MIRA
INFORM REPORT
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Report Date : |
15.01.2011 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL BOOK HOUSE PRIVATE LIMITED |
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Registered Office : |
Indian Mercantile Mansion (Extension), |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
10.05.1941 |
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Com. Reg. No.: |
11-3330 |
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CIN No.: [Company
Identification No.] |
U51900MH1941PTC003330 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI05462C |
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PAN No.: [Permanent
Account No.] |
AAACI1028F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributor, Agents and Publishers of Books, Magazines, Worldbook,
Chemical info. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 65000 |
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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. Sanjeev Kumar Gupta |
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Designation : |
Director |
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Date : |
15.01.2011 |
LOCATIONS
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Registered Office : |
Indian Mercantile Mansion (Extension), |
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Tel. No.: |
91-22-66242222 (100 lines) / 22021634 / 1795 / 9302 / 0765 / 22044859
/ 22874872 / 22835203 / 22871830 |
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Mobile No.: |
91-9820173787 (Mr. Sajay Gupta) |
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Fax No.: |
91-22-22851109 |
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E-Mail : |
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Website : |
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Area : |
10000 sq. ft. |
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Location : |
Rented |
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Warehouse : |
TEJ Kiran Building, Near Babulnath Temple, Dady Seth Agiary Lane, Chow
Patty, Mumbai-400007, Maharashtra, India
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Tel. No.: |
91-22-23673393 |
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Area : |
4000 sq ft |
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Location : |
Rented |
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Branch Office : |
Located at:
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Distribution
Depots : |
Located at:
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Subscription
Office : |
Located at:
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Regional Office
: |
Located at:
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DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Surinder Kumar Gupta |
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Designation : |
Director |
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Address : |
34, Dewan Villa, King’s Circle, Mumbai – 400019, |
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Qualification : |
Graduate |
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Date of Appointment : |
30.12.1975 |
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Name : |
Mr. Sanjeev Kumar Gupta |
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Designation : |
Director |
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Address : |
34, Dewan Villa, King’s Circle, Mumbai – 400019, |
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Qualification : |
Graduate |
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Date of Appointment : |
14.04.1994 |
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Name : |
Mr. Rohit Gupta |
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Designation : |
Director |
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Address : |
34, Dewan Villa, King’s Circle, Mumbai – 400019, |
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Qualification : |
Graduate |
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Date of Appointment : |
14.04.1994 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Surinder Kumar Gupta |
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500 |
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Usha Rani Gupta |
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2519 |
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Sanjeev Kumar Gupta |
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5265 |
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Rohit Gupta |
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265 |
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Rahkee Shah |
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150 |
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Kamal Aggarwal and Bankey Aggarwal |
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1 |
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Laxmidevi Rajgarhia |
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100 |
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Omprakash Ragarhia |
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40 |
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Kaushalya Ragarhia |
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40 |
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Maya Rajgarhia |
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40 |
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Kailash Rajgarhia |
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40 |
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Asaram Ragarhia |
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40 |
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I.B.D. Books and Periodicals Private Limited , |
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620 |
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Surinder Gupta HUF |
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514 |
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Mamta Gupta |
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2433 |
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Parvinder Gupta |
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2433 |
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Rohit Gupta Jointly with Parvinder Gupta |
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5000 |
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Total |
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20000 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Bodies corporate |
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23.00 |
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Directors or relatives of directors |
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77.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor, Agents and Publishers of Books, Magazines, Worldbook,
Chemical info. |
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Agencies Held : |
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Imports : |
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Products : |
English Language Books and Magazines |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 / 60 / 90 days) |
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Purchasing : |
Cash and Credit (30 / 60 / 90 days) |
GENERAL INFORMATION
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Customers : |
Retailers, End Users, OEM’s, Corporate Houses and Educational
Institutes |
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No. of Employees : |
300 Approximately |
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Bankers : |
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Facilities : |
Cash Credit: Rs.30.000 millions (from Indian Overseas Bank)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mahesh C. Mathur and Company Chartered Accountants |
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Address : |
Kakad House, 1st Floor, |
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Tel. No.: |
91-22-22002697 |
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Fax No.: |
91-22-22005618 |
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Associates/Subsidiaries : |
Line of Business: Distributor of Books and Magazines.
Line of Business: Distributor of Books and Magazines. |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Share |
Rs.100/- Each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Share |
Rs.100/- Each |
Rs.2.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.000 |
2.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
14.290 |
13.605 |
12.843 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.290 |
15.605 |
13.843 |
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LOAN FUNDS |
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1] Secured Loans |
28.172 |
30.093 |
22.356 |
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2] Unsecured Loans |
2.458 |
4.795 |
4.148 |
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TOTAL BORROWING |
30.630 |
34.888 |
26.504 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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Others |
11.743 |
0.000 |
0.000 |
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TOTAL |
58.663 |
50.493 |
40.347 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.563 |
4.056 |
4.062 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.661 |
0.661 |
0.660 |
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DEFERREX TAX ASSETS |
0.236 |
0.198 |
0.137 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
90.273
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88.218
|
39.566 |
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Sundry Debtors |
155.586
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112.264
|
97.691 |
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Cash & Bank Balances |
9.240
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8.958
|
4.814 |
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Other Current Assets |
0.000
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0.000
|
0.000 |
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Loans & Advances |
4.047
|
5.327
|
9.226 |
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Total
Current Assets |
259.146
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214.767 |
151.297 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
204.160
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24.249
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Other Current Liabilities |
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144.362
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115.416 |
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Provisions |
0.816
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0.611
|
0.426 |
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Total
Current Liabilities |
204.976
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169.222
|
115.842 |
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Net Current Assets |
54.170
|
45.545
|
35.455 |
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MISCELLANEOUS EXPENSES |
0.033 |
0.033 |
0.033 |
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TOTAL |
58.663 |
50.493 |
40.347 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PROFIT BEFORE
TAX |
1.055 |
0.947 |
0.691 |
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Less |
TAX |
0.155 |
0.185 |
0.165 |
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PROFIT AFTER TAX
|
0.850 |
0.762 |
0.526 |
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Earnings Per
Share (Rs.) |
42.51 |
38.12 |
52.69 |
Expected Sales ( 2010-11): Rs.500.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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14.46 |
13.08 |
10.28 |
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Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.27 |
1.31 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAIL
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Particulars |
As on 31.03.2010 (Rs. In Millions ) |
As on 31.03.2009 (Rs. In Millions ) |
As on 31.03.2008 (Rs. In Millions ) |
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Sundry Creditor |
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For Purchases and Expenses |
NA |
5.927 |
NA |
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For Subscription |
NA |
18.322 |
NA |
Bankers Charges
Report as per Registry
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Name of the
company |
INTERNATIONAL BOOK
HOUSE PRIVATE LIMITED |
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Presented By |
INTERNATIONAL
BOOK HOUSE PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Agreement for
cash credit: (hypothecation of goods dated 30th March 1983) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.300 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 |
Hypothecation of stocks
of books, magazines including books/magazines covered by the bills drawn
which shall be brought into stored or be in or about the company’s godown or
premises at |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1. Rate of
Interest: Interest on cash
credit will be charged @2.5% over State Bank advance Rate,
effective/minimum/rate 19% per annum. 2. Margin Margin on stocks
of books and magazines will be kept at 33 1/3% 3. Stocks shall
be fully insured (for 100% of the market value against fire in the joint
names of the bank and the company) |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Not Available |
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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. |
Not Available |
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This form is for |
Modification of charge |
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Charge
identification number of the modified |
10026757 |
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Corporate identity
number of the company |
U51900MH1941PTC003330 |
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Name of the
company |
INTERNATIONAL
BOOK HOUSE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Indian Mercantile Mansion (Extension), |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Indian Overseas Bank, ‘ Harikripa’ 26-A, |
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Nature of
description of the instrument creating or modifying the charge |
Letter of
Hypothecation in F-110E. |
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Date of
instrument Creating the charge |
02.07.2010 |
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Amount secured by
the charge |
Rs.30.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit : BPLR + 2.50% p.a.
(i.e.) presently 14.50% p.a. LG / LC / Cheque
Purchase : Commission As applicable. Terms of
Repayment Repayable on
Demand. Margin Cash Credit : 25%
on Stocks. : 40% on Book Debts. LG/LC : 15% by way of Deposit. Extent and
Operation of the charge The charge is to operate
as security, by way of first exclusive charge, for the due repayment of the
credit facility of Rs.30.000 millions together with interests, additional
interests, costs, charges, expenses and all other moneys payable by the
Company to the Bank in terms of sanction. Others (Rs. In millions)
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Short particulars
of the property charged |
Hypothecation, by
way of first charge, of : a) Entire stocks of books, magzines, etc.,
lying or stored at the premises of the Company or elsewhere. b) b) All the book debts, receivables and other
claims which are due and owing to the Company from time to time. |
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Date of latest
modification prior to the present modification |
31.12.2009 |
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Particulars of
the present modification |
The Cash Credit
limit has been enhanced from Rs.24.000 Millions to Rs.27.500 Millions, the
Letter of Credit / Letter of Guarantee limit remains unchanged at Rs.2.000
Millions and a Fresh Sanction Cheque Purchase limit of Rs.0.500 millions has
been sanctioned by the Bank to the Company. Thus the total
amount secured by the charge stands enhanced from Rs.26.000 Millions to
Rs.30.000 Millions. |
FIXED ASSETS
- Plant and machinery
- Furniture and
Fixture
- Air Condition
- Motor Car
- Computers
- Fax Machine
- Bicycle
- Typewriter
TRADE REFERENCE
- Laxmi Publications Private Limited
AS PER WEBSITE DETAILS:
PROFILE
Subject, popularly
known as IBH was incorporated in the year 1941.
IBH has spent 67
long years in Pursuit of Knowledge
by supplying books, magazines and journals all over
IBH is definitely
the Pioneer in this industry being the oldest in the organized sector. Although
they are the oldest, they have adapted to the latest innovations, e-Resources
etc... to keep theirselves and the customers abreast with the latest trends in
learning.
They have been
associated with some of the World's most popular brands like Time Life, Readers
Digest etc... in the past and continue to associate theirselves with the best
of Publisher's currently.
It has been the
constant endeavour to invent and improvise business strategies for
distributing, selling and circulating the products through Direct Marketing -
Direct Mail and Door to Door Sales, Internet marketing and Conventional methods
like distribution through book sellers and other retail channels.
Over the decades,
IBH has emerged as a leading importer and distributor of English Language books
and Magazines. They have a broad based clientele of over 3, 00,000 customers
which includes individuals, leading Educational Institutions, Corporate Houses
and emerging Consortias.
Being a pioneer in
the subscription Industry in
Continuing in the
tradition of excellence and to focus on providing the best reference products in
a variety of formats, Indigo Direct Marketing Limited was launched as a
subsidiary of IBH in 2003. Recognizing the global shift from print media to
electronic media, Indigo DM has aggressive plans to be a leading provider of
content in a variety of digital media formats.
Promoters
Successfully run by
the family of Guptas, the group has multifarious interests and operations.
Dr. S.K. Gupta started his
career by setting up one of
Dr Gupta is the
recipient of many National and International Awards and Citation and has
passion for ‘Alternate Systems of Medicine’.
Email: dr.gupta@ibhbookstore.com
Mr. Sanjeev Kumar Gupta, aged
44, is the director of SubjectHe has been involved in travel, infocom, exports
and local marketing of several consumer products. He has more than 24 years of
experience in distribution and marketing.
Upon his
appointment in 1994, he took charge of the Direct Mail department of the
company. He was responsible for creating a database of over one million
customers through Direct Mail. The direct mail operations were one of the most
successful in the country with one of the best response rates of the industry.
He now looks after the finance, distribution and subscription business of the
company.
Email: s.gupta@ibhbookstore.com
Mr. Rohit Gupta, aged 40, is
the director of subject. A graduate from the
Upon his
appointment in 1994, he took charge of the Books Department, Institutional and
Corporate Sales and the Chemical Information Services' departments.
Besides the above
portfolio’s, he also looks after the administration and operations at IBH.
Email: r.gupta@ibhbookstore.com
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.45.30 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
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 |
|
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--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.