MIRA
INFORM REPORT
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Report Date : |
22.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SHROFF PUBLISHERS AND DISTRIBUTORS PRIVATE LIMITED |
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Registered
Office : |
Patel Building #9, 1st Flolor, 8, M K Amin Marg, Mumbai
400001, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
17.07.1992 |
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Com. Reg. No.: |
11-067760 |
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Paid up Capital
: |
Rs.0.930 million |
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CIN No.: [Company Identification
No.] |
U22200MH1992PTC067760 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Publishers and Distributors of Books |
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No. of Employees
: |
103 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 228980 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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 : |
Mr. Lilani |
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Designation : |
General Manager |
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Contact No. : |
91-22-41584158 |
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Date : |
21.06.2011 |
LOCATIONS
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Registered Office : |
Patel Building #9, 1st Flolor, 8, M K Amin Marg, Mumbai
400001, Maharashtra, India |
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Tel. No. : |
91-22-41584158 |
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Fax No. : |
91-22-41584141 |
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E-Mail : |
mehmood@shroffpublishers.com |
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Website : |
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Head Office : |
C-103, TTC Industrial Area, MIDC, Pawane, Navi Mumbai 400705, |
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Tel. No.: |
91-22-41584158 |
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Fax No.: |
91-22-41584141 |
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Location : |
Owned |
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Branches: |
Basement, Phone: 91-11-23243337, 23243338 Fax: 91-11-23243339 Kolkata 7B Kolkata - 700014 West Phone: 91-33-22849329, 22847954 Fax: 91-33-22406109 Chennai 23, Chennai - 600017 Tamil Phone: 91-44-24315343,24315340 Fax: 91-44-24315342 7, Sharada Colony, Basaveshwar Nagar, 8th Phone: 91-80-41287393, 41287394 Fax: 91-80-41287392 36, M.A. Sarang Marg ( Mumbai - 400009 Phone: 91-22-66107594, 66107595 Fax: 91-22-66107596 |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Aziz A Shorff |
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Designation : |
Director |
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Address : |
Flat No. 31, Aashiyana, Plot No. 925, 1st Road, Almeida Park, Bandra
(West) Mumbai 400 050, Maharashtra, India |
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Date of Birth/Age : |
05.10.1961 |
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Qualification : |
HSC |
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Date of Appointment : |
17.04.1998 |
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Name : |
Mrs. Samira A Shroff |
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Designation : |
Director |
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Address : |
Flat No. 31, Aashiyana, Plot No. 925, 1st Road, Almeida Park, Bandra (West)
Mumbai 400 050, Maharashtra, India |
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Date of Birth/Age : |
21.01.1964 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.1997 |
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Name : |
Mrs. Shirin A Shroff |
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Designation : |
Director |
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Address : |
23, Colaba Chambers, 150, Colaba Road, Colaba, Mumbai – 400 001,
Maharashtra, India |
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Date of Birth/Age : |
17.05.1974 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.2007 |
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Name : |
Mrs. Zeenat A Shroff |
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Designation : |
Director |
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Address : |
62, Purnima Society, Dominic Road, Bandra (West), Mumbai – 400 050, Maharashtra, India. |
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Date of Birth/Age : |
31.08.1970 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.1997 |
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Name : |
Mrs. Nadia A Shroff |
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Designation : |
Director |
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Address : |
23, Colaba Chambers, 150, Colaba Road, Colaba, Mumbai – 400 001,
Maharashtra, India |
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Date of Birth/Age : |
13.05.1975 |
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Qualification : |
Graduate |
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Date of Appointment : |
29.09.2001 |
KEY EXECUTIVES
|
Name : |
Mr. Lilani |
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Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. Amin A. Shroff |
9000 |
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Mr. Aziz Abdulsultan Shroff |
35000 |
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Mr. Azim Shroff |
9000 |
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Mr. Akbar Shroff |
5000 |
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Mrs. Zeenat Amin Shroff |
5000 |
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Mrs. Samira Aziz Shroff |
20000 |
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Mrs. Shirin Aziz Shroff |
5000 |
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Mrs. Nadia Akbar Shroff |
5000 |
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Total |
93000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
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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 : |
Publishers and Distributors of Books |
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Products : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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No. of Employees : |
103 (Approximately) |
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Bankers : |
The Saraswat Co Operative Bank Address: SME Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli,
Mumbai 400079, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Karia and Karachiwal Chartered Accountant |
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Address : |
34, |
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Name : |
S. V. Shanbhag and Co. Chartered Accountant |
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Address : |
124/125, Vardhaman Market, Sector 17, Vashi, Navi Mumbai – 400703,
Maharashtra, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
250,000 |
Equity Shares |
Rs. 10 each |
Rs. 2.500 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
93000 |
Equity Shares |
Rs. 10 each |
Rs.0.930
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 |
0.930 |
0.930 |
0.930 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
56.315 |
56.312 |
55.732 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
57.245 |
57.242 |
56.662 |
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LOAN FUNDS |
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1] Secured Loans |
13.899 |
16.797 |
17.079 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
13.899 |
16.797 |
17.079 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
71.144 |
74.039 |
73.741 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.190 |
18.920 |
19.996 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.025 |
0.026 |
0.026 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
27.998
|
26.612 |
35.917 |
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Cash & Bank Balances |
2.521
|
10.524 |
9.148 |
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Other Current Assets |
57.486
|
60.429 |
52.635 |
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Loans & Advances |
14.852
|
18.559 |
14.543 |
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Total
Current Assets |
102.857
|
116.124 |
112.243 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
32.400
|
41.677 |
44.279 |
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Other Current Liabilities |
6.460
|
4.353 |
5.333 |
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Provisions |
10.068
|
15.001 |
8.912 |
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Total
Current Liabilities |
48.928
|
61.031 |
58.524 |
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Net Current Assets |
53.929
|
55.093 |
53.719 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
71.144 |
74.039 |
73.741 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
102.859 |
127.851 |
141.692 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL |
102.859 |
127.851 |
141.692 |
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PROFIT BEFORE
TAX (E-F) |
0.550 |
1.281 |
12.373 |
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Less |
TAX |
0.548 |
0.702 |
4.580 |
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PROFIT AFTER TAX
(G-H) |
0.002 |
0.580 |
7.793 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.00
|
0.45 |
5.49 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.53
|
1.00 |
8.73 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.45
|
0.95 |
9.36 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.02 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.09
|
1.36 |
1.33 |
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Current Ratio (Current Asset/Current Liability) |
|
2.10
|
1.90 |
1.92 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2010 Rs.
In Millions |
31.03.2009 Rs.
In Millions |
31.03.2008 Rs. In Millions |
|
Sundry Creditors for Imports |
4.441 |
7.339 |
-- |
|
Sundry Creditors for Local Purchase |
18.573 |
24.884 |
42.703 |
|
Sundry Creditors for Publications |
8.414 |
7.944 |
--- |
|
Sundry Creditors for Expenses |
0.972 |
1.510 |
1.576 |
Fixed Assets:
- Land building
- Office
Premises
- Furniture and
Fixture
- Computer
- Office
Equipments
- Air
Conditioner
- Motor Car
- Packing
Equipment
- Generator Set
Form 8
|
Corporate identity
number of the company |
U22200MH1992PTC067760 |
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Name of the
company |
SHROFF PUBLISHERS AND DISTRIBUTORS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Patel Building #9, 1st Flolor, 8, M K Amin Marg, Mumbai
400001, |
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This form is for |
Modification of
charge |
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Type of charge |
Immovable
property |
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Particular of
charge holder |
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Nature of
instrument creating charge |
Supplementary Recording
Letter Evidencing deposit of Title deeds |
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Date of
instrument Creating the charge |
19.01.2011 |
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Amount secured by
the charge |
Rs. 20.600
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 14%p .a or at
such rate as maybe determined by the bank from time to time Terms of
Repayment On demand Margin 40% Extent and
Operation of the charge This is overdraft
facility. The immovable property is
main cum collateral security Others Nil |
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Particulars of
the property charged |
Mortgage by
deposit of title deed Commercial Premises No B102 & B103 in the Building
no San-SBC-ND situated at Sanpada, Station Navi Mumbai solely belonging to
the company and more particularly
described in Schedule II attached herewith.. |
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Date of
instrument modifying the charge |
10.10.2009 |
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Particulars of
the present modification |
Additional
facility of Rs 5.000 millions granted. Overall limit secured by immovable
property at B102 &B103 in Bldg no SAN-SBC-ND Sanpada Navi Mumbai is
enhanced to Rs 20.600 millions |
|
Corporate
identity number of the company |
U22200MH1992PTC067760 |
|
Name of the
company |
SHROFF PUBLISHERS AND DISTRIBUTORS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Patel Building #9, 1st Flolor, 8, M K Amin Marg, Mumbai
400001, |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
The Saraswat Co Operative Bank Address: SME Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli,
Mumbai 400079, Email: njbhatia@rediffmail.com |
|
Nature of
instrument creating charge |
Supplementary Recording Letter Evidencing deposit of Title deeds |
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Date of
instrument Creating the charge |
10.10.2009 |
|
Amount secured by
the charge |
Rs. 15.600 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 13.50% p.a. or at such rate as may be determined by the bank from time
to time Terms of
repayment On demand Margin 40% Extent and
operation of the charge This is overdraft facility. The immovable property is main cum collateral security |
|
Short particulars
of the property charged (Including location of the property) |
Mortgage by deposit of title deed Commercial Premises No B102 and B103
in the Building no San-SBC-ND situated at Sanpada, Station Navi Mumbai solely
belonging to the company. |
|
Particulars of
the present modification |
Additional facility of Rs 10 millions granted. Overall limit secured
by immovable property at B102 and B103 in Bldg no SAN-SBC-ND Sanpada Navi
Mumbai is enhanced to Rs 15.600 millions |
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 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.44.91 |
|
|
1 |
Rs.72.89 |
|
Euro |
1 |
Rs.64.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.