1. Summary Information
|
Country |
|
||
|
Company Name |
QUENBY TRANSFERS
INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. David Christopher Hunt |
|
Status |
Moderate |
Principal Name 2 |
Mr. Rhys James Tillry |
|
Registration # |
08-037576 |
||
|
Street Address |
No. 542, IV
Phase, Peenya Industrial Area, Bangalore-560058, |
||
|
Established Date |
31.10.2005 |
SIC Code |
-- |
|
Telephone# |
91-80-22896078/79 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-22896021 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Cold Peel Transfer Stickers |
|
|
# of employees |
-- |
Product Name 2 |
Lithographic Transfer Stickers |
|
Paid up capital |
Rs.44,100,100/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 99.99% Director and Relatives of Directors-0.01% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
5 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B
(27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company : |
|
Quenby Transfers Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
33,952,000 |
Current Liabilities |
25,654,000 |
|
Inventories |
18,622,000 |
Long-term Liabilities |
25,969,000 |
|
Fixed Assets |
45,244,000 |
Other Liabilities |
1,223,000 |
|
Deferred Assets |
363,000 |
Total Liabilities |
52,846,000 |
|
Invest& other Assets |
2,012,000 |
Retained Earnings |
3,247,000 |
|
|
|
Net Worth |
47,347,000 |
|
Total Assets |
100,193,000 |
Total Liab. & Equity |
100,193,000 |
|
Total Assets (Previous Year) |
109,160,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
107,156,000 |
Net Profit |
(292,000) |
|
Sales(Previous yr) |
112,958,000 |
Net Profit(Prev.yr) |
3,653,000 |
MIRA INFORM REPORT
|
Report Date : |
15.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
QUENBY TRANSFERS INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
No. 542, IV Phase, Peenya Industrial Area, Bangalore-560058, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
31.10.2005 |
|
|
|
|
Com. Reg. No.: |
08-037576 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U22219KA2005PTC037576 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Cold Peel Transfer Stickers and Lithographic Transfer
Stickers |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 180000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some losses being incurred by the company in current year i.e. 2009-10.
However, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
No. 542, IV Phase, Peenya Industrial Area, Bangalore-560058, |
|
Tel. No.: |
91-80-22896078/79 |
|
Fax No.: |
91-80-22896021 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. David Christopher Hunt |
|
Designation : |
Director |
|
Address : |
Prestige Clark Wood, 11 Clark Road, Bangalore-560005, |
|
Date of Birth/Age : |
14.01.1958 |
|
Date of Appointment : |
31.10.2005 |
|
Din No.: |
01642724 |
|
|
|
|
Name : |
Mr. Rhys James Tilley |
|
Designation : |
Director |
|
Address : |
19, |
|
Date of Birth/Age : |
14.10.1965 |
|
Date of Cessation : |
02.02.2009 |
|
Din No.: |
01393686 |
|
|
|
|
Name : |
Mr. Walter Thomas Charles Seabrook |
|
Designation : |
Director |
|
Address : |
Doverbeck Barn Wood, Woodborougrough, Nottingham-NG146DH, United
Kingdom |
|
Date of Birth/Age : |
14.05.1944 |
|
Date of Appointment : |
31.10.2005 |
|
Din No.: |
01393565 |
|
|
|
|
Name : |
Mr. Sachindranath Udupa Kuppar |
|
Designation : |
Director |
|
Address : |
187, Giridarshan, 4th Block, 3rd Stage
Basaveshwara Nagar, BANGALORE-560079, |
|
Date of Birth/Age : |
14.01.1965 |
|
Date of Appointment : |
05.02.209 |
|
Din No.: |
02569557 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
David Christopher Hunt |
|
1 |
|
Quenby Transfers Limited |
|
441000 |
|
Total |
|
441001 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.99 |
|
Directors or relatives of directors |
|
0.01 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cold Peel Transfer Stickers and Lithographic Transfer
Stickers |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Paper / Ink |
KVA/ Nos. |
750 |
750 |
25943160 |
GENERAL INFORMATION
|
Bankers : |
State Bank of India, Bangalore City Branch, No.22, J.C. Road,
Bangalore-560002, Karnataka, India |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raghavan Chaudhuri And Narayanan |
|
Address : |
27, Sri Venkateshwara Krupa, 1st |
|
Tel. No.: |
91-80-23361121/23361030/23361120 |
|
E-Mail : |
|
|
|
|
|
Holding Company : |
v
Quenby Transfers Limited, UK |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
457731 |
Equity Shares |
Rs. 100/- each |
Rs. 45.773 millions |
|
|
|
|
|
Note : of the above 320000 Equity Shares of Rs. 100/-
each and Preference Share of Rs. 13773100 is converted in to Equity Shares as
per Altered Articles of Association during the year.
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
441001 |
Equity Shares |
Rs. 100/- each |
Rs. 44.100
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 |
44.100 |
30.327 |
30.327 |
|
|
2] Share Application Money |
0.000 |
13.773 |
13.773 |
|
|
3] Reserves & Surplus |
3.247 |
3.539 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
47.347 |
47.639 |
44.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.874 |
11.894 |
13.747 |
|
|
2] Unsecured Loans |
19.095 |
19.095 |
19.095 |
|
|
TOTAL BORROWING |
25.969 |
30.989 |
32.842 |
|
|
DEFERRED TAX LIABILITIES |
1.223 |
1.123 |
1.203 |
|
|
|
|
|
|
|
|
TOTAL |
74.539 |
79.751 |
78.145 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.244 |
47.259 |
54.034 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.363 |
0.383 |
2.665 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18.622
|
15.882
|
14.342
|
|
|
Sundry Debtors |
13.375
|
13.054
|
12.889
|
|
|
Cash & Bank Balances |
0.709
|
0.299
|
0.067
|
|
|
Other Current Assets |
8.656
|
6.779
|
6.779
|
|
|
Loans & Advances |
11.212
|
8.545
|
7.794
|
|
Total
Current Assets |
52.574
|
44.559 |
41.871 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.734
|
13.431 |
24.201 |
|
|
Other Current Liabilities |
7.437
|
0.000
|
0.000
|
|
|
Provisions |
3.483
|
2.303
|
0.894
|
|
Total
Current Liabilities |
25.654
|
15.734 |
25.095 |
|
|
Net Current Assets |
26.920
|
28.825
|
16.776
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2.012 |
3.284 |
4.670 |
|
|
|
|
|
|
|
|
TOTAL |
74.539 |
79.751 |
78.145 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
107.156 |
112.958 |
113.422 |
|
|
|
Other Income |
4.108 |
0.908 |
0.766 |
|
|
|
TOTAL (A) |
111.264 |
113.866 |
114.188 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
|
|
|
|
|
Manufacturing Expenses |
69.394 |
63.221 |
69.891 |
|
|
|
Deferred Revenue w/o |
0.739 |
0.739 |
0.739 |
|
|
|
Increase/(Decrease) in Finished Goods |
0.844 |
(0.242) |
(1.763) |
|
|
|
Selling and Distribution Expenses |
13.087 |
16.656 |
19.875 |
|
|
|
Preliminary Expenses W/Off |
0.533 |
0.533 |
0.533 |
|
|
|
Administrative Expenses |
17.219 |
15.216 |
10.530 |
|
|
|
TOTAL (B) |
101.816 |
96.123 |
99.805 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.448 |
17.743 |
14.383 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.907 |
2.846 |
3.967 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.541 |
14.897 |
10.416 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.518 |
8.440 |
10.069 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
0.023 |
6.457 |
0.347 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.315 |
2.804 |
(0.749) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(0.292) |
3.653 |
1.096 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.539 |
(0.114) |
(1.210) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.247 |
3.539 |
(0.114) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
80.300 |
50.300 |
70.000 |
|
|
TOTAL EARNINGS |
80.300 |
50.300 |
70.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.66) |
12.04 |
3.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(0.26)
|
3.21
|
0.96
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.02
|
5.72
|
0.30
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.02
|
7.00
|
0.35
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.14
|
0.01
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.12
|
1.00
|
1.34
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05
|
2.83
|
1.67
|
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office of the company has been shifted from No. 23, KIADB
Industrial Area, Bidadi, Ramanagara Taluk and District Bidadi-560008,
BACKGROUD :
Quenby Transfers (
FORM 8 :
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80039009 |
|
Corporate
identity number of the company |
U2219KA2005PTC037576 |
|
Name of the company
|
QUENBY TRANSFERS
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Book Debts Movable
Property (not being pledge) |
|
Particular of
charge holder |
State Bank of Address : E-mail : prasannakpk@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
(Both documents
relate to single modification of charge) |
|
Date of
instrument Creating the charge |
26.09.2007 |
|
Amount secured by
the charge |
Rs.25.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Interest at 1.50%
above/below state bank advance rate (SBAR) (SBAR=12.75%p.a.) with a minimum
of 14.25% p.a. Terms of
Repayment : On Demand Margin : Margin 25% Extent and
Operation of the charge : Hypothecation
charge over entire stocks book debts other current assets plant and machinery
and other movable assets to secure the entire credit facilities of Rs.25.500
millions. (CC Stocks
Rs.3.500 millions, CC REC Rs.4.000 millions and TL Rs.18.000 Millions) |
|
Short particulars
of the property charged |
Hypothecation of
present future entire stocks of raw materials semi finished goods book debts
receivables and other current assets of the company. Hypothecation of all
plant and machinery and other movables assets of the company belonging to the
company at No. 23, KIADB Industrial Area, Bidadi, Ramanagaram Tq, Bangalore
Rural or wherever else belonging to the company |
|
Particulars of
the present modification |
Total limits
enhanced from Rs. 23.000 Millions to Rs. 25.500 Millions. (CC Stocks
Rs.3.500 millions, CC REC Rs.4.000 millions and TL Rs.18.000 Millions) All other terms
and conditions including all existing securities to continue for the enhanced
limits. |
FIXED ASSETS :
v
Plant and Machinery
v
Motor Vehicles
v
Computers
v
Office Equipments
v
Tools
v
Furniture
WEB SIDE DETAILS
PROFILE
Their Company has 20 years of successful track record of
printing and supplying heat transfer stickers to the global garment industry.
Their company is run with a responsibility for the
environment, where all the transfers supplied are free of Phthalates, Alkyl
Phenol Ethoxylates and will meet the Oeko-Tex Standard 100.
They are equipped
with modern machinery and follow systematic methods to meet customers’
standards. Their professional staffs are highly educated and trained, which ensures
to give good result.
Print Techniques they
offer…
The techniques below
are all supported by ‘Certificate of Compliance to the Toxicity Requirements’
and can either be PVC or PVC free, depending on their customers’ individual
requirements.
COLD PEEL TRANSFER
STICKERS...
These transfers offer
durable, bright opaque shades that can be heat applied to most fabrics types
and any colour garment. These prints can be supplied either as a oil based or
water based system, depending on the garment and customer’s requirements.
LITHOGRAPHIC TRANSFER
STICKERS...
These transfers are created from photographic images that are
re-created by printing on an offset lithographic machine. The clarity of the
motifs is as you would find in a glossy magazine. They can be supplied either
as a oil based or water based print.
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 records 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.44.48 |
|
|
1 |
Rs.72.36 |
|
Euro |
1 |
Rs.64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.