MIRA
INFORM REPORT
|
Report Date : |
06.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
FUJIFILM INDIA PRIVATE LIMITED |
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Registered
Office : |
Plot No. B-16, Second Floor, Community Centre, Janakpuri, Delhi-110058 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
04.12.2007 |
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Com. Reg. No.: |
55-171054 |
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CIN No.: [Company Identification
No.] |
U24233DL2007PTC171054 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer and Trader of Photo imaging products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 480000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of fujfilm Corporation, The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Raj |
|
Designation : |
Account Executive |
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Contact No.: |
91-124-4325500 |
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Date : |
05.04.2011 |
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Name : |
Mr. Pankaj |
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Designation : |
Company Secretary |
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Contact No.: |
91-124-4325500 |
|
Date : |
05.04.2011 |
LOCATIONS
|
Registered Office : |
Plot No. B-16, Second Floor, Community Centre, Janakpuri,
Delhi-110058, |
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Tel. No.: |
91-11-45509780 |
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E-Mail : |
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Website : |
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Head/ Corporate. Correspondence Office : |
6th Floor, |
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Tel. No.: |
91-124-4325500 |
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Fax No.: |
91-124-4325555 |
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E-Mail : |
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Area : |
Owned |
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Factory : |
Plot No. 64/69, CWC Premises, |
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Branches : |
Located at: ·
Mumbai ·
Chennai ·
Kolkata |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Kenichi Tanka |
|
Designation : |
Director |
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Address : |
38 Poorvi Marg, |
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Date of Birth/Age : |
30.09.1963 |
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Date of Appointment : |
27.01.2008 |
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DIN No.: |
02055661 |
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Name : |
Mr. Yasuhiro Egami |
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Designation : |
Director |
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Address : |
10 New Industrial Road, Singapore-536201, |
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Date of Birth/Age : |
05.02.1949 |
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Date of Appointment : |
27.01.2008 |
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DIN No.: |
02081363 |
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Name : |
Mr. Koji Wada |
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Designation : |
Director |
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Address : |
1002 Tower B-3, 10th Floor, |
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Date of Birth/Age : |
10.11.1978 |
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Date of Appointment : |
26.09.2008 |
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Name : |
Mr. Hiroki Moriyama |
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Designation : |
Alternate Director |
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Address : |
A-1-1403, 14 Floor, |
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Date of Birth/Age : |
05.03.1968 |
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Date of Appointment : |
27.09.2010 |
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DIN No.: |
03290152 |
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Name : |
Mr. Shigehiro Nakajima |
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Designation : |
Additional Director |
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Address : |
Iwahara 377-1, Ninami Ashigara Shi Kangawa, |
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Date of Birth/Age : |
02.10.1948 |
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Date of Appointment : |
27.09.2010 |
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DIN No.: |
03291933 |
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Name : |
Mr. Seiji Ota |
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Designation : |
Director |
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Address : |
D-60, 2nd Floor, Anand Niketan, New Delhi-110021, |
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Date of Birth/Age : |
23.08.1972 |
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DIN No.: |
00396752 |
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Name : |
Mr. Amit Jain |
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Designation : |
Director |
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Address : |
F-516, Sarita Vihar, New Delhi-110076, |
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Date of Birth/Age : |
26.02.1973 |
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Date of Appointment : |
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DIN No.: |
01380992 |
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Name : |
Mr. Kazuo Nakamura |
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Designation : |
Director |
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Address : |
2-15—210, Azamino 3 Chome Aoba K U Yuokahma-2550012, |
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Date of Birth/Age : |
08.09.1951 |
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Date of Appointment : |
27.10.2009 |
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Date of Ceasing: |
27.09.2010 |
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DIN No.: |
02780025 |
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Name : |
Mr. Nobuo Matsunobe |
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Designation : |
Director |
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Address : |
1702 Tower A3, |
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Date of Birth/Age : |
10.12.1974 |
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Date of Appointment : |
18.01.2010 |
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Date of Ceasing: |
27.09.2010 |
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DIN No.: |
02941809 |
KEY EXECUTIVES
|
Name : |
Mr. Raj |
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Designation : |
Account Executive |
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Name : |
Ms. Sonam Sarin |
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Designation : |
Secretary |
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Address : |
833 Sector 15, Part II, Gurgaon-122001, |
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Date of Birth/Age : |
30.03.1980 |
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Date of Appointment : |
03.03.2010 |
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PAN No.: |
BAFPS8490C |
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c |
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Name : |
Mr. Pankaj Kumar |
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Designation : |
Company Secretary |
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Address : |
1876 Outram Line, Kingsway Camp, Delhi-110009, |
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Date of Birth/Age : |
04.03.1974 |
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Date of Appointment : |
01.03.2008 |
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Date of Ceasing: |
03.03.2010 |
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PAN No.: |
AMLPK2263N |
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Date of Appointment : |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Fujifilm Corporation |
|
9000000 |
|
Fujifilm Regional Services Private Limited, |
|
1000000 |
|
Total |
|
10000000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Photo imaging products. |
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Products : |
·
Consumer Products ·
Photo Imaging Products ·
Graphic Arts Products ·
Medical Products and Solutions ·
Life Science Systems ·
Industrial Products ·
Motion Picture Films ·
Recording Media
|
GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the management |
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Bankers : |
Standard Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S Vaidyanath Aiyar and Company Chartered Accountant |
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Address : |
221-223, Deen Dayal Upadyaya Marg, New Delhi-110002, |
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Tel. No.: |
91-11-23236011 |
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E-Mail : |
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Holding Company : |
Fujifilm Corporation |
CAPITAL STRUCTURE
As on 27.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46000000 |
Equity Shares |
Rs. 10/- each |
Rs. 460.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000
Millions |
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/-
each |
Rs. 100.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
100.000 |
100.000 |
100.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
19.634 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
[49.315] |
[5.189] |
|
|
NETWORTH |
119.634 |
50.685 |
94.811 |
|
|
LOAN FUNDS |
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|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
140.000 |
35.000 |
0.000 |
|
|
TOTAL BORROWING |
140.000 |
35.000 |
0.000 |
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|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
259.634 |
85.685 |
94.811 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.467 |
14.870 |
13.257 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.097 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
293.173
|
70.797 |
28.864 |
|
|
Sundry Debtors |
322.336
|
142.887 |
8.722 |
|
|
Cash & Bank Balances |
23.234
|
5.968 |
69.620 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.173 |
|
|
Loans & Advances |
65.979
|
24.583 |
8.205 |
|
Total
Current Assets |
704.722
|
244.235 |
115.584 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
412.427
|
155.629 |
27.820 |
|
|
Other Current Liabilities |
40.045
|
16.550 |
3.709 |
|
|
Provisions |
7.180
|
1.241 |
2.502 |
|
Total
Current Liabilities |
459.652
|
173.420 |
34.031 |
|
|
Net Current Assets |
245.070
|
70.815 |
81.553 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
259.634 |
85.685 |
94.811 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
1501.471 |
(Turnover/
Income) |
11.270 (Turnover/
Income) |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1501.471 |
472.313 |
11.270 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
511.418 |
15.872 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1417.903 |
511.418 |
15.872 |
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(Including
Depreciation) |
[39.105] |
[4.602] |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
3.456 |
0.489 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
83.568 |
[42.561] |
[5.091] |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.622 |
1.564 |
0.098 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
68.946 |
[44.125] |
[5.189] |
|
|
|
|
|
|
|
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|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.035 |
0.720 |
0.000 |
|
|
|
Commission Earnings |
49.299 |
69.515 |
4.944 |
|
|
TOTAL EARNINGS |
49.334 |
70.235 |
4.944 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
1101.866 |
295.355 |
20.878 |
|
|
|
Goods in Transit |
96.789 |
12.079 |
12.079 |
|
|
TOTAL IMPORTS |
1198.655 |
307.434 |
32.957 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.89 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.59
|
[9.34] |
[46.04] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.66
|
[16.43] |
[3.95] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.70
|
[0.84] |
[0.05] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.01
|
4.11 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.41 |
3.40 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
- Due to Small Scale Industrial Undertakings |
-- |
-- |
-- |
|
- Others (Including Rs. 343.438 Millions payable to holding company (Previous
year Rs. 139.827 Millions)) |
412.427 |
155.629 |
27.820 |
|
TOTAL |
412.427 |
155.629 |
27.820 |
Note:
The Registered office of the company has been
shifted from 5th Floor, Le Merdien Commercial Tower, Janpath,
Operations:
Despite the recessionary after effects in
economy, the company registered substantial growth in terms of turnover and
profits. The products introduced during last year were well received in the
market and the company developed its edge in the market. The company has been
able to achieve substantial market share, steady price for its products by
taking up newer challages and was able to post more than 3 times increase in
its turnover as compared to last year.
Fixed Assets:
·
Computer
·
Furniture and Fixture
·
Vehicles
·
Plant and Machinery
·
Office Equipments
·
Lease Improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
|
|
1 |
Rs.71.59 |
|
Euro |
1 |
Rs.63.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.