%20PRIVATE%20LIMITED%20-%20134536%2002-Mar-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
02.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
SNAB GRAPHIX INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.12, 1st Main 1st Cross, Kalidasa Layout, |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
30.08.2005 |
|
|
|
|
Com. Reg. No.: |
11-037093 |
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|
|
|
CIN No.: [Company Identification
No.] |
U51909KA2005PTC037093 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRS20922G |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
Trading in screen printing materials. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 41000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a company having satisfactory track. The company is
progressing well. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and condtions. |
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DENITED BY
|
Name : |
Ms. Sunanda |
|
Designation : |
Front Office Executive |
|
Date : |
01.03.2011 |
LOCATIONS
|
Registered Office : |
No.12, 1st Main 1st Cross, Kalidasa Layout,
Srinagar, Bangalore-560050, Karnataka, India |
|
Tel. No.: |
91-80-26755398/26759040/26759042/26755398 |
|
Fax No.: |
91-80-26759050/26755398 |
|
E-Mail : |
DIRECTORS
As On : 17.09.2010
|
Name : |
Mr. Shivakumar Marulasiddapa Hosadurga |
|
Designation : |
Director |
|
Address : |
No.12, 1st Main 1st Cross, Kalidasa Layout, Srinagar,
Bangalore-560050, Karnataka, India |
|
Date of Birth/Age : |
10.07.1970 |
|
Date of Appointment : |
30.08.2005 |
|
DIN No : |
00795872 |
|
|
|
|
Name : |
Mr. Basavaraja Hosadurga Marulusiddappa |
|
Designation : |
Director |
|
Address : |
No.77/127, United Building, J.D. Road, Bangalore-560002, Karnataka,
India |
|
Date of Birth/Age : |
12.07.1971 |
|
Date of Appointment : |
30.08.2005 |
|
DIN No : |
02495337 |
|
|
|
|
Name : |
Ms. Kavitha Shivakumar |
|
Designation : |
Director |
|
Address : |
No.12, 1st Main 1st Cross, Kalidasa Layout,
Srinagar, Bangalore-560050, Karnataka, India |
|
Date of Birth/Age : |
16.02.1978 |
|
Date of Appointment : |
04.03.2009 |
|
DIN No : |
02561618 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Shivakumar Marulasiddapa Hosadurga |
|
150000 |
|
Mr. Basavaraja Hosadurga Marulusiddappa |
|
150000 |
|
Ms. Kavitha Shivakumar |
|
150000 |
|
Total |
|
450000 |
AS ON 17.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in screen printing materials. |
GENERAL INFORMATION
|
Suppliers : |
ü 3 M India
Limited ü Adithya Screens ü Acme Tech ü Chennai Dome ü Dot Keys ü Electronics
India ü Global C ü Gurushiv
Printers ü DMS-
Technologies Private Limited ü Esak Graphics ü Crystal Screen
Prints ü Avery Dennison
India Private Limited |
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No. of Employees : |
Not Divulged to the Management. |
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Bankers : |
v Citi Bank N A,
506/507, Level 5, Prestige Meridian 2, #30, M. G. Road, Bangalore-560001,
Karnataka, India v State Bank of
India v ABN AMRO Bank |
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Facilities : |
|
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|
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Sheshachala and Company Chartered Accountant |
|
Address : |
360, 1st Floor, Opposite Jain Temple, Sampige Road, 7th
Cross, Malleshwaram, Bangalore-560003, Karnataka, India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.500
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 |
4.500 |
4.500 |
3.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.791 |
2.634 |
1.233 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10.291 |
7.134 |
4.233 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
15.542 |
9.645 |
0.000 |
|
|
2] Unsecured Loans |
0.900 |
2.831 |
8.869 |
|
|
TOTAL BORROWING |
16.442 |
12.476 |
8.869 |
|
|
DEFERRED TAX LIABILITIES |
0.024 |
0.020 |
0.012 |
|
|
|
|
|
|
|
|
TOTAL |
26.757 |
19.630 |
13.114 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.306 |
0.184 |
0.177 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.938
|
14.411 |
11.832 |
|
|
Sundry Debtors |
34.137
|
18.999 |
6.589 |
|
|
Cash & Bank Balances |
0.614
|
0.419 |
0.489 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.387
|
1.545 |
1.119 |
|
Total
Current Assets |
56.076
|
35.374 |
20.029 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.878
|
14.524 |
6.277 |
|
|
Other Current Liabilities |
1.164
|
0.429 |
0.330 |
|
|
Provisions |
1.604
|
1.000 |
0.513 |
|
Total
Current Liabilities |
29.646
|
15.953 |
7.120 |
|
|
Net Current Assets |
26.430
|
19.421 |
12.909 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.021 |
0.025 |
0.028 |
|
|
|
|
|
|
|
|
TOTAL |
26.757 |
19.630 |
13.114 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
TURNOVER |
128.241 |
68.542 |
40.192 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
123.476 |
66.223 |
38.860 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
123.476 |
66.223 |
38.860 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.765 |
2.319 |
1.332 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.608 |
0.918 |
0.473 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.157 |
1.401 |
0.859 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.02 |
3.11 |
2.86 |
|
%20PRIVATE%20LIMITED%20-%20134536%2002-Mar-2011_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20134536%2002-Mar-2011_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20134536%2002-Mar-2011_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.46
|
2.04 |
2.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.45
|
6.52 |
6.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46
|
0.33 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.48
|
3.99 |
3.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.89
|
2.22 |
2.81 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
For Purchases and Services |
23.719 |
13.445 |
6.220 |
|
For Expenses |
3.159 |
1.079 |
0.057 |
|
Total |
26.878 |
14.524 |
6.277 |
SUNDRY CREDITORS
PARTIAL DETAILS
(Rs.
In millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
For Purchases and Services |
|
|
6.220 |
|
Bayers Material Science Private Limited (Imports) |
3.012 |
0.000 |
|
|
Shin Hastu Bai |
4.616 |
2.739 |
|
|
3 M India Limited |
1.297 |
0.063 |
|
|
Knowel Corporation |
3.481 |
1.811 |
|
|
Ninth Avenue Industries Private Limited |
1.970 |
0.565 |
|
|
Polyglass Acrylic Manufacturing Company Private Limited |
1.498 |
0.000 |
|
|
Shahani (India) Company |
1.653 |
0.830 |
|
|
For Expenses |
|
|
56.500 |
|
Satish and Company |
0.020 |
0.045 |
|
|
Commission Payable |
2.217 |
0.852 |
|
|
Directors Remuneration Payable |
0.573 |
0.110 |
|
FINANCIAL RESULTS :
During the year
the Company achieved a turnover of Rs. 128.241 millions (Rs. 68.542 millions) . A sum of Rs. 0.060 million (Rs. 0.060 million) has been provided towards
depreciation. The net profit for the year is Rs. 4.765 millions (Rs. 2.319 millions). The Company has made
provision for income tax for Rs. 1.608 millions. The Directors do not propose
to recommend any dividend in order to conserve financial resources of the
Company. The Directors do not propose to transfer any sums to the general
reserves for the year under reference.
FORM 8
|
Corporate
identity number of the company |
U51909KA2005PTC037093 |
|
Name of the
company |
SNAB
GRAPHIX (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No.12, 1st Main 1st Cross, Kalidasa Layout,
Srinagar, Bangalore-560050, Karnataka, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
Citi Bank N A, 506/507, Level 5, Prestige Meridian 2, #30, M. G. Road,
Bangalore-560001, Karnataka, India |
|
Nature of
instrument creating charge |
Goods
Security Agreement |
|
Date of
instrument Creating the charge |
28.09.2010 |
|
Amount secured by
the charge |
Rs.34.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As
agreed from time to time Terms of
repayment Repayable
On Demand Margin As
agreed from time to time Extent and operation
of the charge First
Charge on all of the Borrowers movable assets forming part of current assets
both present and future |
|
Short particulars
of the property charged (Including location of the property) |
The whole
of movable assets, including stocks of raw materials, goods in process semi
finished and finished goods together with stores, components and spares at
the borrowers premises in India Present
& future book debts, outstanding monies, receivables, claims, bills,
investments, rights to or on moveable properties and moveable assets forming
part of current assets |
FIXED ASSETS
v
Office Equipments
v
Vehicles
v
Computers
v
Furniture and Fixtures
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.45.12 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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.