MIRA
INFORM REPORT
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Report Date : |
26.02.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Madani Hall 1, Bahadur Shah Zafar Marg, New Delhi-110002, |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
25.09.1969 |
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Com. Reg. No.: |
55-5126 |
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CIN No.: [Company
Identification No.] |
L74950DL1969PLC005126 |
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IEC No.: |
0588110256 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA11910D |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter, Importer and Service Provider of Comprehensive
design, Typestting prepress, Multimedia, Printing and bindery services. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2000000 |
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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.
ECGC Country Risk Classification List – April 1, 2010
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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
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Name : |
Mr. K K Agarwal |
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Designation : |
Director |
LOCATIONS
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Registered / Corporate / Domestic Sales
Office : |
Madani Hall 1, Bahadur Shah Zafar Marg, New Delhi-110002, |
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Tel. No.: |
91-11-23715871 /
23320772 / 23320789 |
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Fax No.: |
91-11-23712692 |
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E-Mail : |
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Website : |
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Factory1 /
Branch : |
Plot No. 61, Sector 27 C, |
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Tel. No.: |
91-129-2275524, 2275589 |
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Fax No.: |
91-011-2277036 |
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Factory 2 : |
M-1, Thiruvika Industrial Estate, Chennai - 600 032, Tamilnadu |
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Branches : |
Ř Tel. No. 91-33-22362878 / 22376369 / 22375415 Fax No. 91-33-22258901 / 22362079
Ř A-220,
Okhla Industrial Area, Phase - 1, Tel. No. : 91-11-26815122 / 26819238 Fax No. : 91-11-26815122 E-mail : aptc@ajantaoffset.com
Ř Madani
Hall 1, Bahadurshah Zafar Marg, |
DIRECTORS
As on 28.09.2007
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Name : |
Mr. Govind Prasad
Todi |
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Designation : |
Chairman and
Managing Director |
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Address : |
C-757, New Friends Colony, |
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Date of Birth/Age : |
25.09.1949 |
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Date of Appointment : |
25.09.1969 |
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Name : |
Mr. Jagdish Narain Pathak |
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Designation : |
Director |
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Address : |
A-4A, Mahavir Vidyan Path, Bajaj Nagar, Jaipur, Rajasthan |
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Date of Birth/Age : |
17.02.1923 |
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Date of Appointment : |
19.12.1986 |
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Name : |
Mr. Deepak Mohan |
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Designation : |
Director |
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Address : |
B – 1238, Palam Vihar, Gurgaon – 122217, |
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Date of Birth/Age : |
22.06.1941 |
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Date of Appointment : |
27.11.1997 |
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Name : |
Mr. Radhakrishnan Vallavan |
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Designation : |
Whole Time
Director |
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Address : |
AP 292, Sector 8, K. K. Nagar, Chennai, |
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Date of Birth/Age : |
26.09.1957 |
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Date of Appointment : |
06.06.1996 |
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Name : |
Mr. Sunil Agarwal |
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Designation : |
Director |
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Address: |
D-1070, New Friends Colony, New Delhi-110065, |
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Date of Birth/ Age: |
15.08.1959 |
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Date of Appointment: |
21.09.2001 |
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Name : |
Mr. |
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Designation : |
Director |
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Address: |
D-52, 2nd Floor, Mahendru Enclave, New Delhi-110033, |
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Date of Birth/ Age: |
17.06.1950 |
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Date of Appointment: |
30.07.2004 |
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Name : |
Mr. Siddhartha Todi |
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Designation : |
Whole Time Director |
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Address : |
C-757, New Friend Colony, New Delhi-110065, |
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Date of Birth/Age : |
20.01.1975 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Sunil Agarwal |
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21092001 |
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Krishnan Kumar Agarwal |
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72004 |
Equity Share
Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage of
Holding |
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Public Financial Companies |
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5.84 |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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10.62 |
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Bodies corporate |
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60.63 |
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Directors or relatives of directors |
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19.66 |
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Other top fifty shareholders |
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3.22 |
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Others |
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0.03 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter, Importer and Service Provider of
Comprehensive design, Typestting prepress, Multimedia, Printing and bindery
services. |
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Products : |
Generic Names of the Principal Products / Services of the Company are:-
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Exports : |
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Products : |
Generic Names of the Principal Products / Services of the Company are:-
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Countries : |
Ř
Ř
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Imports : |
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Countries : |
Ř
Ř
Ř
Ř
Ř
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Terms : |
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Selling : |
L/C, Cash and Credit ( 30-60 Days) |
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Purchasing : |
L/C, Cash and Credit ( 30-60 Days) |
GENERAL INFORMATION
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Customers : |
Ř Pepsi Ř Sony Ř Caltex Ř Citibank Ř The World Bank Ř BIT AS- Estonia Ř
Vista Stationery and Private Limited, Wholesalers, Retailers and End Users |
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No. of Employees : |
500 + Job Workers
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. Prasad and
Company Chartered
Accountants |
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Address : |
C-31, South Extension Part I, |
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Associates : |
Ř
Viesta Stationery and Print Limited, Ř Continental Packaging Limited Activity: Manufacturer, Exporter, Importer and Service Provider of Comprehensive design, Typestting prepress, Multimedia, Printing and bindery services. |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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6,849,700 |
Equity Shares |
Rs. 10/- each |
Rs. 68.497 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
68.497 |
68.497 |
68.497 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
438.627 |
478.646 |
484.454 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
507.124 |
547.143 |
552.951 |
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LOAN FUNDS |
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1] Secured Loans |
1126.479 |
1054.702 |
1036.018 |
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2] Unsecured Loans |
54.542 |
31.623 |
24.121 |
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TOTAL BORROWING |
1181.021 |
1086.325 |
1060.139 |
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DEFERRED TAX LIABILITIES |
113.284 |
115.123 |
104.899 |
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TOTAL |
1801.429 |
1748.591 |
1717.989 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
984.218 |
1059.182 |
1137.831 |
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Capital work-in-progress |
3.150 |
3.165 |
12.348 |
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INVESTMENT |
0.792 |
0.792 |
0.256 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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Foreign Currency Monetary Item Translation Difference |
4.640 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
449.765 |
426.193 |
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Sundry Debtors |
0.0000 |
247.385 |
207.210 |
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Cash & Bank Balances |
0.000 |
17.133 |
25.475 |
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Other Current Assets |
905.601 |
87.497 |
45.199 |
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Loans & Advances |
96.893 |
92.853 |
57.011 |
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Total
Current Assets |
1002.494 |
894.633 |
761.088 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Current Liabilities |
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Provisions |
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8.816 |
8.615 |
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Total
Current Liabilities |
193.865 |
209.181 |
193.534 |
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Net Current Assets |
808.629 |
685.452 |
567.554 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1801.429 |
1748.591 |
1717.989 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Total Income from operations |
977.681 |
1061.799 |
984.588 |
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Other Income |
19.876 |
13.240 |
26.234 |
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TOTAL (A) |
997.557 |
1075.039 |
1010.822 |
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Less |
EXPENSES |
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Raw Material Consumed |
447.826 |
496.308 |
501.302 |
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Personnel Expenses |
61.577 |
54.733 |
51.190 |
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Manufacturing and Other Expenses |
274.023 |
281.538 |
258.030 |
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Exchange Difference |
23.578 |
8.469 |
0.000 |
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Increase/ Decrease in Stock |
[22.405] |
[17.701] |
[15.323] |
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TOTAL (B) |
784.599 |
823.347 |
795.199 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
212.958 |
251.692 |
215.623 |
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Less |
INTEREST (D) |
136.185 |
125.005 |
88.252 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
76.773 |
126.687 |
127.371 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
101.946 |
97.264 |
95.998 |
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PROFIT BEFORE
TAX (E-F) (G) |
[25.173] |
29.423 |
31.373 |
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Less |
TAX (H) |
[0.375] |
17.398 |
17.609 |
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PROFIT AFTER TAX
(G-H) (I) |
[24.798] |
12.025 |
13.764 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
257.156 |
245.132 |
NA |
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BALANCE CARRIED
TO THE B/S |
232.358 |
257.157 |
NA |
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Earnings Per
Share (Rs.) |
[3.62] |
-- |
-- |
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KEY RATIOS
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PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
[2.49] |
1.12 |
1.36 |
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Net Profit Margin (PBT/Sales) |
(%) |
[2.57] |
2.77 |
3.19 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
[1.27] |
1.51 |
1.65 |
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Return on Investment (ROI) (PBT/Networth) |
|
[0.04] |
0.05 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.71 |
2.37 |
2.27 |
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Current Ratio (Current Asset/Current Liability) |
|
5.17 |
4.28 |
3.93 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Register office of the company has been shifted from B-95,
Wazirpur Industrial Area,
History
Subject is an outfit of the Shrachi Group being one of the
three largest integrated print houses in
Trade Reference :
Ř Escorts
Limited,
Ř Eicher
Tractors Limited,
Bankers Charges
Report as per Registry
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Name of the company |
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Presented By |
ING VYSYA BANK
LIMITED AND |
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1) Date and description of instrument creating the changers. |
Letter of Deposit
of title deeds dated 03.12.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 793.000
Millions to USD 2.000 Millions |
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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 |
Joint Equitable
mortgage by deposit of title deeds of property at Plot No. 56, Sector 27C, and
admeasuring 6993 sq. yds. Situated in the Urban Estate, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The following
credit facilities are secured by the above property ING Vysya Bank
Limited Term Loan Rs.
42.500 Millions ING Vysya Bank
Limited Working Capital
facilities : Rs. 104.500 Millions Corporation Bank Term Loan Rs.
223.000 Millions Bank of Rs. 423.000
Millions Exim Bank : FCTL
of USD 2 Million Mr. G. P. Todi,
Managing Director of the company called on the Bank on 02.12.2004 and
accorded and gave oral consent on behalf of the company to ING Vysya Bank Limited
acting as an agent of Bank of Baroda, Export Import Bank of India and
Corporation Bank to hold and retain the title deeds as and by way of Joint
Equitable mortgage by deposit of title deeds by constructive mentioned in Col
No. 3 above more particularly described in the Second Schedule to the
Declaration for deposit of title deeds dated 02.12.2004 attached, to secure
the above mentioned credit facilities.
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5) Name and Address and description of the person entitled to the charge. |
ING Vysya Bank
Limited 23, State Bank of Industrial
Finance Branch 1, Tolstoy Marg, Corporation Bank Industrial
Finance Branch K. G. Marg, Exim Bank WTC, Cuffe
Parade, Mumbai |
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6) Date and brief description of instrument modifying the charge |
Letter of
continuity dated 14.10.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The amount
secured by this charge in increased to Rs. 1046.000 Millions + USD 2.000
millions to secure the following credit facilities sanctioned to the company
:
Exim Bank FCTL
USD 2.000 Millions The charge is
secured by extension of equitable mortage of property at plot No. 56, Sector
27 C and admeasuring 6993 sq. yds. situated in the Urban Estate, |
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Corporate
identity number of the company |
L74950DL1969PLC005126 |
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Name of the
company |
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Address of the
registered office or of the principal place of business in |
B-95, Wazirpur Industrial Area, |
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
80023343 |
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Type of charge |
Ř Immovable Property Ř Any interest in immovable property |
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Particular of
charge holder |
State Bank of India, Lead Bank, Industrial Finance Branch, 14th Floor, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi-110001, India |
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Nature of
instrument creating charge |
Confirmation
Letter for creation of EM of property on 31.10.2009. By deposit of title
deeds with state bank of India Industrial Finance Branch |
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Date of
instrument Creating the charge |
03.11.2009 |
|
Amount secured by
the charge |
Rs. 1287.700
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Agreement Terms of
Repayment As per Agreement Margin As per Agreement Extent and
Operation of the charge First pari passu
charge for Rs. 667.700 Millions for the term lending by State Bank of India
Rs. 165.000 Millions Corporation Bank Rs. 201.100 Millions, Canara Bank Rs.
112.500 Millions and Exim Bank Rs. 179.100 Millions Second pari passu
charge for Rs. 630.000 Millions for the working capital lending by State Bank
of India Rs. 370.000 Millions, Canara Bank Rs. 156.000 Millions and
Corporation Bank Rs. 104.000 Millions |
|
Short particulars
of the property charged |
Property bearing
Plot No. 56, Admeasuring 6993 sq. yards situated in Sector-27-C Faridabad,
Haryana Property bearing
Plot No. 61, Admeasuring 5490 sq. yards situated in Sector 27-C, Property Bearing
Plot No. 95, Block No. B, Admeasuring 2300 sq. yards situated in Wazirpur
Industrial Area, |
|
Particulars of
the present modification |
The Equitable
Mortgage by the company on 31.10.2009 by deposit of Title Deeds with state
Bank of India, acting for itself and also on behalf of corporation Bank,
Canara Bank and Exim Bank limit remains the Same at Rs. 1287.700 Millions.
Date wrongly mentioned as 30.09.2009 in modification which is already
registered, now rectified. |
Fixed Assets
- Land
- Office Flat
- Tubewell and Water Pump
- Plant and Machinery
- Computer
- Electric Fitting
- Furniture and Fixture
- Office Equipment
- Process Equipment
- Air-conditioning and Cooler
- Vehicles
WEBSITE DETAILS
Subject is amongst the largest integrated print houses in
Subject
was established in 1969 as the flagship company of the Todi/Shrachi Group.
Today, the Group's combined turnover exceeds US $ 100 million and it has
offices in several cities in
Subject
is recognized as one of the biggest exporters of quality printed materials from
the country. And to live up to this recognition, they are constantly upgrading
their technologies to give their clients total value for their money …and much
more. Reducing the process time, consolidating the production facilities are
the key areas they are focusing on in the near future. To this end, they are
setting up one large comprehensive unit to include all print solutions under
one roof.
Cloning is a process by which an exact replica of a particular organism is generated, and they have been in the business of cloning for decades - not organisms or physical objects but the images and ideas present in the minds of their clients. Their dedicated and technically strong personnel take every problem as a challenge and ensure that the practical difficulties in giving physical shape to a nebulous idea are ironed out - with innovative ideas and lateral thinking. And their high-quality finishing, binding and packaging services complete the job.
The
key services include:
- Typesetting
- Prepress
- Printing
- Binding and
Finishing
APTC
is a Communication Technology service and design solutions provider, originally
setup by Apple Computer Inc., the
Areas of Operation
Digital Photo Studio (under planning)
Pre-Press Labs
Typesetting
Multimedia
Web Designing
Concept Visualization & Designing
Facilities
High speed Apple and IBM compatible workstations supporting Macintosh OS, Windows 95/98/NT.
Specialized equipment for Pre-Press include image setter from Scitex with PS RIP, Scitex and UMAX scanners, connected over a high speed AT&T network.
A well stocked library of a wide variety of licensed software, to cater to the specific requirements of every assignment.
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.45.37 |
|
|
1 |
Rs.73.24 |
|
Euro |
1 |
Rs.62.68 |
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 |
YES |
|
--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.