MIRA
INFORM REPORT
|
Report Date : |
05.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ASIAN REPROGRAPHICS PRIVATE LIMITED |
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Registered
Office : |
115 and 116, SIDCO Industrial Estate, Ambattur, Chennai – 600 098,
Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.02.1977 |
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Com. Reg. No.: |
18-007268 |
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Capital Investment
/ Paid-up Capital : |
Rs.8.825
millions |
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CIN No.: [Company Identification
No.] |
U33209TN1977PTC007268 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA02171B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Reprographic Media, Photo
Lamination Media and Equipment etc. |
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No. of Employees
: |
Approximately 80 (In Office – 10, In factory – 70) |
RATING & COMMENTS
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MIRA’s Rating : |
B (34) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 72000 |
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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 an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. 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 |
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Risk Category |
ECGC
Classification |
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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 PARTED BY
|
Name : |
Mr. Abhay Gautam Jain |
|
Contact No.: |
91-9600013802 |
|
Date : |
04.08.2011 |
LOCATIONS
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Registered Office/ Factory : |
115 and 116, SIDCO Industrial Estate, Ambattur, Chennai – 600 098, |
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Tel. No.: |
91-44-45048101/ 45048102/
45048103/ 43401900-918 (19 Lines) |
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Mobile No.: |
91-9382849085/ 9600013802 (Mr. Abhay Gautam Jain) |
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Fax No.: |
91-44-45048104/ 43401919 |
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E-Mail : |
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Website : |
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Area : |
2550 sq ft |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Gouthamchand Deoraj Jain |
|
Designation : |
Executive Director |
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Address : |
No.153, Vaibhav Apartments, 62, |
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Date of Birth/Age : |
05.06.1960 |
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Date of Appointment : |
22.05.2000 |
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DIN No.: |
00902961 |
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Name : |
Mrs. Kumari Indira Goutham Chand |
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Designation : |
Director |
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Address : |
No.153, Vaibhav Apartments, 62, |
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Date of Birth/Age : |
10.04.1963 |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
01387690 |
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Name : |
Mr. Abhay Goutham Jain |
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Designation : |
Director |
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Address : |
A-Block, D.No.153, Fifth Floor, Vaibhav Apartments, |
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Date of Birth/Age : |
20.09.1981 |
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Date of Appointment : |
30.01.2003 |
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Date of Ceasing : |
02.09.2010 |
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DIN No.: |
00923609 |
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Name : |
Sheetal Champalal Jain |
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Designation : |
Director |
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Address : |
No.153, Vaibhav Apartments, 62, |
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Date of Birth/Age : |
22.04.1982 |
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Date of Appointment : |
29.09.2007 |
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Date of Ceasing : |
02.09.2010 |
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DIN No.: |
01846555 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Gouthamchand D. Jain |
|
47969 |
|
Gouthamchand D. Jain (HUF) |
|
6140 |
|
Abhay G. Kumar |
|
11060 |
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Indira Kumari G. Jain |
|
22577 |
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Sheetal A Jain |
|
500 |
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Total |
|
88246 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Reprographic Media, Photo
Lamination Media and Equipment etc. |
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Products : |
v
Office Equipments and
Supplies v
Digital Inkjet Media v
Cyber Print Media for Digital
Colour Laser, Xerox v
Quick Offset Print
Media v
Pre Press Positive
Films v
Pre Press Equipments v
Reprographic Media v
Plotter Paper |
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Exports : |
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Products : |
v
Laminated Film v
Laminated Materials |
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Countries : |
v
v
v
European Countries |
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Imports : |
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Products : |
v
Raw Materials |
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Countries : |
v
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GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
Approximately 80 (In Office – 10, In factory – 70) |
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Bankers : |
v
State Bank of v
Standard Chartered Bank, SME Banking, NO. 19, 2nd
Floor, Rajaji Salai, Chennai – 600 001, v
Axis bank v
Citi Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Sundaram Finance
Limited |
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Auditors : |
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Name : |
K.R. Bhansali and Associates Chartered Accountants |
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Address : |
No.21, Pathasarathi Puram, 2nd Floor, T. Nagar, Chennai –
600 017, |
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Tel. No.: |
91-44-28144088 |
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PAN No.: |
AACPC4829P |
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Associates/Subsidiaries : |
Indira System (Private) Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
88246 |
Equity Shares |
Rs.100/- each |
Rs.8.825
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.825 |
7.325 |
6.115 |
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2] Share Application Money |
0.000 |
1.500 |
1.210 |
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3] Reserves & Surplus |
9.225 |
7.431 |
6.548 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
18.050 |
16.256 |
13.873 |
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LOAN FUNDS |
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1] Secured Loans |
16.399 |
9.160 |
11.262 |
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2] Unsecured Loans |
7.295 |
11.765 |
7.847 |
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TOTAL BORROWING |
23.694 |
20.925 |
19.109 |
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DEFERRED TAX LIABILITIES |
0.639 |
0.552 |
0.686 |
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TOTAL |
42.383 |
37.733 |
33.668 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
18.087 |
17.254 |
19.430 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
23.586
|
18.592 |
17.502 |
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Sundry Debtors |
13.641
|
9.722 |
11.730 |
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Cash & Bank Balances |
4.667
|
1.450 |
1.441 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
17.485
|
10.361 |
2.554 |
|
Total
Current Assets |
59.379
|
40.125 |
33.227 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
33.814
|
18.471 |
17.688 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
1.269
|
1.175 |
1.301 |
|
Total
Current Liabilities |
35.083
|
19.646 |
18.989 |
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Net Current Assets |
24.296
|
20.479 |
14.238 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
42.383 |
37.733 |
33.668 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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TURNOVER |
139.076 |
113.223 |
85.669 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.172 |
3.977 |
4.540 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
2.487 |
2.579 |
2.843 |
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PROFIT BEFORE
TAX |
2.685 |
1.398 |
1.697 |
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Less |
TAX |
0.891 |
0.515 |
0.600 |
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PROFIT AFTER TAX
|
1.794 |
0.883 |
1.097 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.431 |
0.848 |
0.000 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
0.300 |
0.300 |
0.249 |
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BALANCE CARRIED
TO THE B/S |
2.925 |
1.431 |
0.848 |
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Earnings Per
Share (Rs.) |
20.33 |
NA |
NA |
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Particulars |
|
|
31.03.2011 (Approximately) |
|
Sales Turnover |
|
|
145.400 |
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The above information has been parted by Mr.
Abhay Gautam Jain.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.47
|
2.44 |
3.22 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.09 |
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.26
|
2.50 |
2.75 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
2.04 |
1.75 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from No.116, SIDCO Industrial Estate, Ambattur, Chennai – 600 098, Tamilnadu to the present address w.e.f. 02.05.2005.
OPERATIONS:
The performance of the company for the year has been satisfactory in
comparison to market situations. The Company achieved a turnover Rs.139.076
millions (previous year Rs.113.223 millions).
FORM 8:
|
Corporate
identity number of the company |
U33209TN1977PTC007268 |
|
Name of the
company |
ASIAN REPROGRAPHICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
115 and 116, SIDCO Industrial Estate, Ambattur, Chennai – 600 098, E-Mail: mundhara_co@yahoo.co.in |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90288282 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Standard Chartered Bank, SME Banking, NO. 19, 2nd Floor, Rajaji Salai,
Chennai – 600 001, E-Mail: leena.gangadharan@sc.com |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement - Supplemental |
|
Date of
instrument Creating the charge |
21.12.2010 |
|
Amount secured by
the charge |
Rs.26.425
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Credit Facility. Interest / Commission
- As agreed by and with the Bank from time to time. Terms of
Repayment: As agreed by and
with the Bank from time to time. Margin: As applicable, if
any. Extent and
Operation of the charge: The Bank is
having first and exclusive charge on security given by the Companies. |
|
Short particulars
of the property charged |
Hypothecation by
way of first and exclusive charge on: a) All the stock in trade both present
and future consisting of raw materials, finished goods, goods in process of manufacturing
and other merchandise b) All the present and future book debts, outstanding
moneys receivable, claims and bills. c) All the movable fixed assets. |
|
Date of latest
modification prior to the present modification |
22.12.2009 |
|
Particulars of
the present modification |
By present
modification, the existing charge amount of Rs.21.425 millions enhanced to
Rs.26.425 millions against the security of hypothecation by way of first
& exclusive charge on: a) all the stock in trade both present and future
consisting of raw materials, finished goods, goods in process of
manufacturing and other merchandise b) all the present and future book debts,
outstanding moneys receivable, claims and bills c) all the movable fixed
assets. |
TRADE REFERENCES:
v
G.G. Enterprises
TRADE REFERENCES:
v Land
v Building Account
v Furniture and Fittings
v Plant and Machinery
v Vehicle
v Computer
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.44.42 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.63.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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.