MIRA
INFORM REPORT
|
Report Date : |
27.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
INTERLABELS INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
12, Ravi Industrial Estate, Off |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
16.10.1995 |
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Com. Reg. No.: |
11-93706 |
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Capital Investment
/ Paid-up Capital : |
Rs.34.750 millions |
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CIN No.: [Company
Identification No.] |
U51900MH1995PTC093706 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI05172G |
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PAN No.: [Permanent
Account No.] |
AAACI5684H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Premium Quality Labels, Labelling Machines, Hand Labellers and Barcode Solutions. |
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No. of Employees : |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 507000 |
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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 a well 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Bhavya Joshi |
|
Designation : |
Marketing Manager |
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Tel No: |
91-9769711957 |
|
Date : |
24.06.2011 |
LOCATIONS
|
Registered Office : |
12, Ravi Industrial Estate, Off |
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Tel. No.: |
91-22-32428522 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq ft |
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Location : |
Owned |
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Factory : |
Nandan Estate, Survey No. 59, Majipada, |
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Tel. No.: |
91-250-32428522 / 24, 2230091 |
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Fax No.: |
91-250-26876495 |
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Corporate Office: |
110, |
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Tel No: |
91-22-65814330/31/32 |
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Fax No: |
91-22-26876495 |
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Branch Office: |
38 DLF Industrial Area,Kirti Nagar, Tel: 91-11-23324014/39 Fax:91-11-23324106 CHENNAI OFFICE New No.51,Anna Slai,Nagalkeni,Chorompet,Chennai – 600044 Tel: 91-44-43162009 Fax: 91-44-43162008 KOLKATA OFFICE 3A, Tel: 91-33-22285955 / 5258 / 5312 Fax:91-33-22286523 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Chandrakant Nandlal Kothari |
|
Designation : |
Director |
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Address : |
101, Landmark, |
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Date of Birth/Age : |
08.11.1932 |
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Qualification : |
Graduate |
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Date of Appointment : |
16.10.1995 |
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DIN No. : |
00946197 |
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Name : |
Mr. Gautam Chandrakant Kothari |
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Designation : |
Director |
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Address : |
101, Landmark, |
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Date of Birth/Age : |
28.06.1967 |
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Qualification : |
Graduate |
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Date of Appointment : |
16.10.1995 |
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|
|
|
Name : |
Mr. Bhavin Chandrakant Kothari |
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Designation : |
Director |
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Address : |
101, Landmark, |
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Date of Birth/Age : |
22.08.1961 |
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Qualification : |
Graduate |
|
Date of Appointment : |
16.10.1995 |
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DIN No. : |
00946108 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Chandrakant Kothari |
463000 |
|
Bhavin C Kothari |
647000 |
|
Gautam C Kothari |
1384000 |
|
Bela B Kothari |
654000 |
|
Kumud C Kothari |
20000 |
|
Chandrakant Kothari (HUF) |
120000 |
|
Bhavin C Kothari (HUF) |
28000 |
|
Jay Bhavin Kothari |
100000 |
|
Mansi Bhavin Kothari |
50000 |
|
Everest Packaging Private Limited ( |
9000 |
|
Total |
3475000 |
Equity share breakup AS ON 30.09.2010
|
Category |
Percentage
|
|
Directors or relatives of directors |
90.96 |
|
Others |
9.04 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Premium Quality Labels, Labelling Machines, Hand Labellers and Barcode Solutions. |
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|
|
|
Products : |
· Labelling machine · Hand labellers · Self-adhesive labels ·
Barcode Solutions |
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Exports : |
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Countries : |
·
African Countries ·
Arab Countries |
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Terms : |
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Selling : |
Cash, Credit (30 days / 60 days / 90 days) |
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Purchasing : |
L/C,Cash, Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
|
Customers : |
·
OEM’s ·
End Users |
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|
|
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No. of Employees : |
200 (Approximately) |
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|
|
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Bankers : |
The Saraswat Co-operative bank Limited, SME Ville Parle Branch, Bholanath Co-op Hsg
Soc, |
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Banking
Relations : |
-- |
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Auditors : |
Mahesh P and Company Chartered Accountants |
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Address : |
26/A Shindewadi, Dr. |
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Sister Concern |
Intercode Address: Mumbai |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3475000 |
Equity Shares |
Rs.10/- each |
Rs.34.750
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
34.750 |
34.750 |
34.750 |
|
|
2] Share Application Money |
0.100 |
0.100 |
0.100 |
|
|
3] Reserves & Surplus |
91.823 |
81.154 |
75.715 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
126.673 |
116.004 |
110.565 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
194.226 |
211.696 |
234.923 |
|
|
2] Unsecured Loans |
56.845 |
55.420 |
37.494 |
|
|
TOTAL BORROWING |
251.071 |
267.116 |
272.417 |
|
|
DEFERRED TAX LIABILITIES |
27.551 |
25.914 |
22.939 |
|
|
|
|
|
|
|
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TOTAL |
405.295 |
409.034 |
405.921 |
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
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|
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FIXED ASSETS [Net Block] |
209.662 |
226.508 |
222.100 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
24.812 |
13.713 |
13.473 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
76.700
|
80.843
|
79.309
|
|
|
Sundry Debtors |
144.158
|
134.776
|
180.204
|
|
|
Cash & Bank Balances |
7.310
|
11.152
|
12.749
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
59.396
|
36.215
|
45.383
|
|
Total
Current Assets |
287.564
|
263.586
|
317.645
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000
|
0.000
|
|
|
Other Current Liabilities and Provisions |
118.874
|
98.499
|
152.618
|
|
Total
Current Liabilities |
118.874
|
98.499
|
152.618
|
|
|
Net Current Assets |
168.690
|
165.087
|
165.027
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2.131 |
3.726 |
5.321 |
|
|
|
|
|
|
|
|
TOTAL |
405.296 |
409.034 |
405.921 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
640.329 |
640.490 |
|
|
|
Other Income |
|
3.495 |
2.469 |
|
|
|
TOTAL |
|
643.824 |
642.959 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
464.048 |
453.226 |
|
|
|
Manufacturing and Other Expenditure |
|
31.456 |
32.052 |
|
|
|
Employees Remuneration and Benefits |
|
39.250 |
36.599 |
|
|
|
Managerial Remuneration |
|
1.455 |
1.545 |
|
|
|
Administrative Expenses |
|
48.238 |
60.845 |
|
|
|
Increased / Decreased in Stock |
|
(1.918) |
(1.039) |
|
|
|
TOTAL |
|
582.529 |
583.228 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
61.295 |
59.731 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
34.042 |
25.583 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
27.251 |
34.148 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
14.734 |
13.505 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
12.518 |
20.643 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
7.078 |
5.986 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
5.440 |
14.657 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
68.964 |
54.307 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
74.404 |
68.964 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
3.12 |
5.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
-- |
0.84 |
2.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
-- |
1.95 |
3.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
-- |
2.55 |
3.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
-- |
0.11 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.92 |
3.15 |
3.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.42 |
2.67 |
2.08 |
LOCAL AGENCY FURTHER INFORMATION
Form 8:
|
Corporate
identity number of the company |
U51900MH1995PTC093706 |
|
Name of the
company |
INTERLABELS
INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
12, Ravi Industrial Estate, Off |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
90160353 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
The Saraswat
Cooperative Bank Limited |
|
Nature of
instrument creating charge |
Supplementary
Recording Letter Evidencing Deposit of Title Deeds |
|
Date of instrument
Creating the charge |
24.05.2011 |
|
Amount secured by
the charge |
Rs.188.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of
Repayment : On demand Extent and
Operation of the charge This is
collateral security for various facilities granted to the company and also
facilities granted to Interlabel Industries Partnership firm |
|
Short particulars
of the property charged |
Mortgage by deposit of title deed property lying,
being and situate at survey no 59, village Maljipada W E Highway Vasai Dist
Thane solely belonging to the company. |
|
Date of
instrument modifying the charge |
30.04.2011 |
|
Particulars of
the present modification |
Immovable property
at survey no 59, Maljipada W E Highway Vasai Dist Thane is collateral
security for facility of Rs 30.000 millions granted to Interlabel Industries
Partnership firm. Overall limit
secured is enhanced from Rs 158.200 Millions to Rs 188.200 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 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.44.94 |
|
|
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.64.09 |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.