MIRA
INFORM REPORT
|
Report Date : |
22.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
NEWS PRINT TRADING AND DISTRIBUTING CORPORATION LIMITED |
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Registered
Office : |
101, 1st Floor, 229/231, Perin Nariman Street,
Mumbai-400001, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
08.09.1958 |
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Com. Reg. No.: |
11-011171 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.982 Millions |
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|
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CIN No.: [Company Identification
No.] |
U51900MH1958PLC011171 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMT09646A MUMT10876F |
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PAN No.: [Permanent Account No.] |
AAACT1786B |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Distributer and Indenting agent of paper (printing Paper) |
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No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for 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.
INFORMATION PARTED BY
|
Name : |
Ms. Preeti Gandhi |
|
Designation : |
Account Manager |
|
Date : |
19.08.2011 |
LOCATIONS
|
Registered Office : |
101, 1st Floor, 229/231, Perin Nariman Street,
Mumbai-400001, Maharashtra, India |
|
Tel. No.: |
91-22-22617272 / 22617878 / 22617299 |
|
Mobile No.: |
91-9820027299 (Mr. Hitesh Shah) |
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Fax No.: |
91-22-22611207 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. |
|
Location : |
Owned |
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|
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|
Warehouse : |
Gala No.5/6, Tantia Industrial Estate, Sitaram Mill Compound, Lower
Parel, Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-23098182 |
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 27.09.2010
|
Name |
Mr. Mulchand Lalji Shah |
|
Designation |
Chairman |
|
Address |
203, Bora Bazar Street, 1/F, Fort, Mumbai – 400 001, |
|
Date of Birth |
05.07.1944 |
|
Date of Appointment |
27.09.1990 |
|
DIN No : |
00134479 |
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|
|
|
Name |
Mr. Jayesh Mulchand Shah |
|
Designation |
Whole-time Director |
|
Address |
203, Bora Bazar Street, 1/F, Fort, Mumbai – 400 001, |
|
Date of Birth |
18.05.1968 |
|
Qualification |
B. Com. |
|
Date of Appointed |
29.09.1989 |
|
DIN No : |
00228868 |
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|
|
|
Name |
Mr. Hitesh Mulchand Shah |
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Designation |
Managing Director |
|
Address |
203, Bora Bazar Street, 1/F, Fort, Mumbai – 400 001, |
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Date of Birth |
08.06.1970 |
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Qualification |
B. Com. |
|
Date of Appointment |
29.09.1989 |
|
DIN No : |
00154753 |
KEY EXECUTIVES
|
Name : |
Ms. Preeti Gandhi |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mulchand L. Shah and Manjula M. Shah |
|
102000 |
|
Manjula M. Shah and Mulchand L. Shah |
|
18000 |
|
Jayesh Mulchand Shah and Mulchand L. Shah |
|
10700 |
|
Jayesh Mulchand Shah |
|
10000 |
|
Bijal J. Shah |
|
200 |
|
Hitesh M. Shah and Mulchand Lalji Shah |
|
34000 |
|
Rajesh M. Shah and Mulchand Lalji Shah |
|
20000 |
|
Vasant S. Savla |
|
50 |
|
Manekchand S. Bengani |
|
100 |
|
Manilal J. Shah and Jayantilal Y. Shah |
|
500 |
|
Anilkumar B. Shah |
|
50 |
|
Swaldas K. Munyal and Vishindas K. Munyal and Asha V. Munyal |
|
100 |
|
Sakina M. Hawa |
|
50 |
|
J.P. Patel (BOM) Private Limited |
|
100 |
|
Kantilal M. Parikh |
|
50 |
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Dhiraj A. Shah and Meena D. Shah |
|
100 |
|
Arzoo H. Shah and Hitesh M. Shah |
|
50 |
|
Shantilal S. Shah |
|
50 |
|
Abdullabhai F. Kagalwala |
|
400 |
|
Girdharilal Damodar Private Limited |
|
100 |
|
Indravadan M. Parikh |
|
50 |
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Krishnakumar L. Ganantra |
|
50 |
|
Mukesh K. Sheth |
|
100 |
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Ramanand Kapoor |
|
100 |
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Ramesh P. Chugani and Gauri R. Chugani |
|
50 |
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Ramesh T. Chiklikar |
|
50 |
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Vinod S. Shah |
|
50 |
|
Arzoo H. Shah |
|
100 |
|
Sheetal R. Shah |
|
200 |
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Total |
|
197350 |
AS ON 27.09.2010
|
Category |
Percentage |
|
Bodies corporate |
0.10 |
|
Directors or relatives of Directors |
99.04 |
|
Other top fifty shareholders |
0.86 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributer and Indenting agent of paper (printing Paper) |
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Products : |
v Newsprint Paper v Mechanical
Printing Paper |
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Agencies Held : |
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Imports : |
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Products : |
·
Printing Paper |
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Countries : |
·
Germany ·
Switzerland ·
Austria ·
Sweden |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
5 (Approximately) |
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Bankers : |
v Union Bank of India, Bombay Samachar Marg, Mumbai – 400 023, Maharashtra, India v
v
Bank of v Citi Co-operative Bank Limited v Dena Bank v Cosmos Co-Operative Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Rajeev Shah and Company Chartered Accountants |
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Address : |
3/4, Behramji Mansion, 1st Floor, 18, Homji Street, Sir P. M. Road, Fort, Mumbai – 400 001, Maharashtra, India |
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Tel. No.: |
91-22-22665425 |
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E-Mail : |
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Sister Concern : |
v Mulchand Lalji and Company 203, Line of Business: Paper Merchants
v Kalpana Properties Private Limit v Newsprint Trading and Sales Corporation
v Shree Gajraj Property Organizers Private Limited 203, Line of Business: Construction v Shree Tej Enterprises Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
197350 |
Equity Shares |
Rs.10/- each |
Rs. 1.974
Millions |
|
Add : 239 |
Equity Shares (Forfeited Shares) |
Rs. 35/-
each |
Rs. 0.008
Millions |
|
|
Total |
|
Rs. 1.982 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 |
1.982 |
1.982 |
1.982 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.609 |
9.345 |
7.728 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12.591 |
11.327 |
9.710 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
4.000 |
7.581 |
14.029 |
|
|
TOTAL BORROWING |
4.000 |
7.581 |
14.029 |
|
|
DEFERRED TAX LIABILITIES |
0.054 |
0.047 |
0.039 |
|
|
|
|
|
|
|
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TOTAL |
16.645 |
18.955 |
23.778 |
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|
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
2.331 |
2.312 |
2.586 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.173 |
0.173 |
0.178 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.930
|
2.396 |
5.308 |
|
|
Sundry Debtors |
6.661
|
9.777 |
11.820 |
|
|
Cash & Bank Balances |
2.461
|
0.845 |
0.941 |
|
|
Other Current Assets |
0.509
|
1.857 |
1.662 |
|
|
Loans & Advances |
4.600
|
4.600 |
4.600 |
|
Total
Current Assets |
15.161
|
19.475 |
24.331 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.667
|
2.112 |
|
|
|
Other Current Liabilities |
0.100
|
0.117 |
3.317 |
|
|
Provisions |
0.253
|
0.776 |
|
|
Total
Current Liabilities |
1.020
|
3.005 |
3.317 |
|
|
Net Current Assets |
14.141
|
16.470 |
21.014 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16.645 |
18.955 |
23.778 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
25.708 |
54.991 |
32.600 |
|
|
|
Other Income |
5.227 |
6.691 |
4.715 |
|
|
|
TOTAL (A) |
30.935 |
61.682 |
37.315 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
24.617 |
52.364 |
30.838 |
|
|
|
Operating and Other Expenses |
2.943 |
4.202 |
3.175 |
|
|
|
TOTAL (B) |
27.560 |
56.566 |
34.013 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.375 |
5.116 |
3.302 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.197 |
2.438 |
2.355 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.178 |
2.678 |
0.947 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.243 |
0.278 |
0.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.935 |
2.400 |
0.570 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.672 |
0.784 |
0.220 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1.263 |
1.616 |
0.350 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.148 |
7.532 |
7.182 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.411 |
9.148 |
7.532 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
2.647 |
5.972 |
2.490 |
|
|
TOTAL EARNINGS |
2.647 |
5.972 |
2.490 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.40 |
8.19 |
1.78 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
20.553 |
|
|
|
|
|
|
Commission |
|
|
4.630 |
The above information has been parted by Ms. Preeti Gandhi.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.08
|
2.62
|
0.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.53
|
4.36
|
1.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.06
|
11.02
|
2.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.21
|
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.40
|
0.93
|
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.86
|
6.48
|
7.34 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS
Rs. In Millions
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
For Trade |
0.000 |
0.843 |
NA |
|
For Expenses |
0.075 |
0.114 |
NA |
|
Other Liabilities |
0.592 |
1.155 |
NA |
|
Total |
0.667 |
2.112 |
NA |
OPERATIONS:
During the year
the Company has earned total income of Rs.30.935 millions as compared to Rs. 61.682
millions in the previous year. After providing for Depreciation, Interest and
Tax, the Net Profit of the Company stood at Rs.1.263 millions as against
Rs.1.616 millions in the previous year. The surplus carried to Balance Sheet,
including brought forward balance from the previous years, during the year was
Rs.9.148 millions
FORM 8
|
Name of the company |
NEWSPRINT TRADING AND DISTRIBUTING CORPORATION LIMITED |
|
Presented By |
Mr. A G A K Solanki, Chief Officer |
|
1) Date and description of instrument creating the change |
Deed of
hypothecation of goods dated 04.11.1993 and copy of resolution passed. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.4.600 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Again stock of
Newsprint paper and Newsglaze paper |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Import letter of
credit limit of Rs. 4.600 Millions and 60/90 D/A basis with 25 % Margin for
which the security details in Column No. 3 is hypothecated to the bank. |
|
5) Name and Address and description of the person entitled to the charge. |
|
TRADE REFERENCES:
· Radine Graphische Paper GMBH
· Jacob Jurgenen Paper
· Zellstoff GMBH
FIXED ASSETS
- Motor Car
- Office Equipment
- Motor Bike
- Fax Machine
- Air Conditioner
- Computer
- Cellular Phone
- Furniture and Fixture
- Printer and Scanner
- Tempo
- Gala Non 25
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. 45.61 |
|
|
1 |
Rs. 75.32 |
|
Euro |
1 |
Rs. 65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.