MIRA
INFORM REPORT
|
Report Date : |
14.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
NOVA GREAFIK PRIVATE LIMITED |
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Registered
Office : |
228/231 Kaliandas Udyogbhavan Century |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.04.1986 |
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Com. Reg. No.: |
11-039490 |
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Paid-up Capital
: |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U51900MH1986PTC039490 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN10632G |
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PAN No.: [Permanent Account No.] |
AAACH2774K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Importer and Dealer of Printing Industries from over the world and
some indigenous companies. |
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No. of Employees
: |
26 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
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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 well established and reputed 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
|
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 DECLINED BY
Management Non Co Operative (Name not Disclosed)
LOCATIONS
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Registered Office : |
228/231 Kaliandas Udyogbhavan Century |
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Tel. No.: |
91-22-56627541/ 5742/ 24880384/ 66235100/ 22061952 |
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Mobile No.: |
91-9820085282 (Mr. Anil Shroff) |
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Fax No.: |
91-22-24380426/ 22061953 |
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E-Mail : |
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Website : |
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Area : |
2400 sq.ft |
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Location : |
Owned |
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Factory : |
C-269, MIDC, TTC Area, Navi Mumbai, |
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Location : |
Owned |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Premnath Shroff |
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Designation : |
Director |
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Address : |
48/65, Venus Apartment, Worli Seaface, Mumbai-400018, |
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Date of Birth/Age : |
85 Years |
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Date of Appointment : |
06.05.1986 |
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Name : |
Mr. Suresh Shroff |
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Designation : |
Director |
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Address : |
48/65, Venus Apartment, Worli Seaface, Mumbai-400018, |
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Date of Appointment : |
06.05.1986 |
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Name : |
Mr. Anil Shroff |
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Designation : |
Director |
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Address : |
48/65, Venus Apartment, Worli Seaface, Mumbai-400018, |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
06.05.1986 |
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Name : |
Mr. Anish Shroff |
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Designation : |
Director |
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Address : |
48/65, Venus Apartment, Worli Seaface, Mumbai-400018, |
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Date of Birth/Age : |
25 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
19.11.2004 |
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Name : |
Mrs. Nilima Shroff |
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Designation : |
Director |
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Address : |
48/65, Venus Apartment, Worli Seaface, Mumbai-400018, |
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Date of Birth/Age : |
25.07.1962 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
No. of Shares |
|
Nilima Shorff Jointly with Anil Shroff |
200 |
|
Premnath Shroff Joint with Anish Shroff |
90 |
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Anil Shroff Jointly with Nilima Shroff |
510 |
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Anish Shroff |
200 |
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Total |
1000 |
AS ON 29.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and Dealer of Printing Industries from over the world and
some indigenous companies. |
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Products : |
1. Rollin Compressible Blanket
2. Self Adhesive Blankets for Business
Firm
3. Flex - Light Photo Polymer Plates
4. Noting Cutting Creasing Rules
5. Plates (Pre - Senstised Plates )
6. Grapfic Art Firms |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
26 (Approximately) |
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Bankers : |
·
Citi Bank, Citi Tower, Dr. S S Rao Road, Parel,
Mumbai 400012, Maharashtra, India ·
Bank of ·
Oriental Bank of Commerce |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Bhatt and Mathur Chartered Accountant |
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Address : |
402, Star Manor Appartment, |
CAPITAL STRUCTURE
AS ON 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1000 |
Equity Shares |
Rs. 100 each |
Rs.0.100 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000 |
Equity Shares |
Rs. 100 each |
Rs.0.100 million |
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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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
16.111 |
11.032 |
7.811 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.211 |
11.132 |
7.911 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.125 |
0.826 |
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2] Unsecured Loans |
13.838 |
9.744 |
13.665 |
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TOTAL BORROWING |
13.838 |
9.869 |
14.491 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
30.049 |
21.001 |
22.402 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.342 |
4.187 |
11.315 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
10.595 |
10.595 |
0.000 |
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DEFERREX TAX ASSETS |
0.274 |
0.207 |
0.145 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.696
|
9.193 |
5.836
|
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Sundry Debtors |
15.055
|
10.990 |
15.250
|
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Cash & Bank Balances |
3.531
|
1.796 |
1.607
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Other Current Assets |
1.658
|
1.420 |
0.000
|
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Loans & Advances |
0.359
|
0.741 |
2.993
|
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Total
Current Assets |
26.299
|
24.140 |
25.686 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
9.867
|
8.142 |
7.775 |
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Other Current Liabilities |
0.507
|
9.986 |
5.539
|
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Provisions |
0.087
|
0.000 |
1.430
|
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Total
Current Liabilities |
10.461
|
18.128 |
14.744 |
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Net Current Assets |
15.838
|
6.012 |
10.942 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
30.049 |
21.001 |
22.402 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Sales |
|
72.514 |
62.783 |
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Other Income |
|
1.472 |
1.519 |
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TOTAL (A) |
|
73.986 |
64.302 |
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Less |
EXPENSES |
|
|
|
|
|
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|
Cost of Materials |
|
51.580 |
48.260 |
|
|
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Employees Remuneration |
|
4.458 |
3.495 |
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|
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Selling and Distribution Expenses |
|
1.573 |
0.899 |
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Administrative Expenses |
|
5.303 |
5.232 |
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TOTAL (B) |
|
62.914 |
57.886 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
11.072 |
6.416 |
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Less |
FINANCIAL
EXPENSES (D) |
|
1.944 |
0.816 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
9.128 |
5.600 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.845 |
0.561 |
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PROFIT BEFORE
TAX (E-F) (G) |
|
8.283 |
5.039 |
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Less |
TAX (H) |
|
0.000 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
|
8.283 |
5.039 |
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DEFFERED TAX
(LIABILITY)/ ASSETS |
|
0.067 |
0.061 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
11.032 |
7.811 |
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Less |
APPROPRIATIONS |
|
|
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|
Short Provision for tax for earlier years |
|
0.271 |
0.104 |
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Provision for Fringe Benefit Tax |
|
0.000 |
0.145 |
|
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|
Tax on Provision |
|
3.000 |
1.630 |
|
|
BALANCE CARRIED
TO THE B/S |
|
16.111 |
11.032 |
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Earnings Per
Share (Rs.) |
|
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.19
|
7.83 |
NA |
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
11.42
|
8.02 |
NA |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.94
|
17.78 |
NA |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.45 |
NA |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.49
|
2.51 |
3.69 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.51
|
1.33 |
1.74 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate
identity number of the company |
U51900MH1986PTC039490 |
|
Name of the
company |
NOVA GREAFIK PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
228/231 Kaliandas Udyogbhavan Century |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Citi Bank, Citi Tower, Dr. S S Rao Road, Parel, Mumbai 400012,
Maharashtra, India Email: vlaxman@vsnl.com |
|
Nature of
instrument creating charge |
a) Loan
Agreement; and b) Deed of
Hypothecation. (Collectively constitute
a single charge for Rs.5.000 millions) |
|
Date of
instrument Creating the charge |
13.11.2009 |
|
Amount secured by
the charge |
Rs. 5.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest (1.50% less than
the application Citibank PLR which is currently 14.75%) Applicable Rate :
13.25%. Terms of repayment DLOD facility of
Rs.5.000 millions shall be repayable in 24 months. Margin As may be
stipulated by Bank from time to time. Extent and operation of the charge Hypothecation by
way of first exclusive charge on Stocks & Book Debts of the Company as
described under Item No.15 below as security for repayment of DLOD Facility
of Rs.5.000 millions by the Company, together with interest, liquidated
damages, costs, charges and expenses and all other moneys due and payable by
the Company to the Bank. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Stocks of the Company. Hypothecation of
Book debts of the Company. |
FIXED ASSETS:
·
Land at Lonavala
·
Building at Lonavla
·
Computer and Printers
·
Air Conditioner
·
Electrical Equipments
·
Motor Car
·
Office Equipments
·
Furniture and Fixtures
·
Television
·
Water Purifier
·
Refrigerator
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.44.59 |
|
|
1 |
Rs.71.07 |
|
Euro |
1 |
Rs.62.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.