MIRA
INFORM REPORT
|
Report Date : |
11.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
SESHAASAI BUSINESS FORMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9, Lalwani Industrial Estate, 14, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
17.09.1993 |
|
|
|
|
Com. Reg. No.: |
074023 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.15.350 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21017MH1993PTC074023 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Services of Offset Printing Solutions and Security Printing
Solutions. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 295744 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. Gautam Jain |
|
Designation : |
Director |
|
Contact No. : |
91-9819863653 |
|
Date : |
09.05.2011 |
LOCATIONS
|
Registered Office : |
9, Lalwani Industrial Estate, 14, |
|
Tel. No.: |
91-22-66624394/24128128 |
|
Mobile No. : |
91-9819863653 (Mr. Gautam Jain) |
|
Fax No.: |
91-22-66624396 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branches : |
B-204, Okhla Industrial Area, Phase-I, Tel.: 91-11-42092900 / 02 Fax : 91-11-42092901 Chennai: Tel.: 91-44-22448386 / 2244 0911 Bangalore: Tel.: 91-80-41171677 / 78 |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Pragnyat P. Lalwani |
|
Designation : |
Director |
|
Address : |
4/93, Vijay Niwas, |
|
Date of Birth/Age : |
13.11.1970 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.09.1993 |
|
|
|
|
Name : |
Mr. Gautam S. Jain |
|
Designation : |
Director |
|
Address : |
234/235, |
|
Date of Birth/Age : |
04.09.1971 |
|
Qualificatio : |
Graduate |
|
Date of Appointment : |
17.09.1993 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Pragnyat P. Lalwani |
|
58000 |
|
Mr. Gautam S. Jain |
|
58000 |
|
Seshasai E-Forms Private Limited, Mumbai |
|
37500 |
|
|
|
|
|
Total |
|
153500 |
AS ON 30.09.2009
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
24.00 |
|
Directors or relatives of directors |
|
76.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Services of Offset Printing Solutions and Security Printing
Solutions. |
|
|
|
|
Import : |
|
|
Products : |
Thermal Paper |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 / 60 / 90 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 / 60 / 90 days) |
GENERAL INFORMATION
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
End users, OEM’s and Corporate’s |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
20 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
J C Shah And Associates Chartered Accountant |
|
Address : |
B-10, Super Shopping Complex, DR. Dalvi Road, Kandiwali (West), Mumbai
– 400067, Maharashtra, India |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,50,000 |
Equity Shares |
Rs.100/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
153,500 |
Equity Shares |
Rs.100/- each |
Rs. 15.350 Millions |
|
|
|
|
|
Note – of the above 70700 equity shares of Rs. 100/-
is issued by way of Bonus Shares
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
15.350 |
4.060 |
4.060 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
58.586 |
20.629 |
19.323 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
73.936 |
24.689 |
23.383 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
126.210 |
69.909 |
52.809 |
|
|
2] Unsecured Loans |
55.948 |
29.342 |
17.843 |
|
|
TOTAL BORROWING |
182.158 |
99.251 |
70.652 |
|
|
DEFERRED TAX LIABILITIES |
15.690 |
15.724 |
7.602 |
|
|
|
|
|
|
|
|
TOTAL |
271.784 |
139.664 |
101.637 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
238.920 |
162.806 |
107.013 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.338 |
1.338 |
1.337 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
49.684
|
21.305 |
8.603 |
|
|
Sundry Debtors |
62.419
|
59.134 |
60.626 |
|
|
Cash & Bank Balances |
4.779
|
8.787 |
1.487 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
61.758
|
41.424 |
26.774 |
|
Total
Current Assets |
178.640
|
130.650 |
97.490 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
138.081
|
145.056 |
94.401 |
|
|
Other Current Liabilities |
6.812
|
(3.271) |
1.034 |
|
|
Provisions |
8.753
|
13.345 |
8.768 |
|
Total
Current Liabilities |
153.646
|
155.130 |
104.203 |
|
|
Net Current Assets |
24.994
|
(24.480) |
(6.713) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
6.532 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
271.784 |
139.664 |
101.637 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
624.787 |
509.267 |
356.004 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
590.737 |
493.714 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
34.050 |
15.552 |
18.256 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.600 |
11.872 |
6.546 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
27.450 |
3.680 |
11.710 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
253 |
91 |
- |
|
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover |
|
850.000 (Approximately) |
700.000 (Approximately) |
|
|
|
|
|
Expected Sales ( 2011-2012 ) : Rs.1000.000 Millions
The above information has been parted by Mr. Gautam Jain
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Net Profit Margin (PBT/Sales) |
(%) |
5.44
|
3.05 |
5.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.15
|
5.29 |
8.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46
|
0.62 |
0.78 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.54
|
10.30 |
7.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
0.84 |
0.93 |
LOCAL AGENCY FURTHER INFORMATION
Sundry
Creditors
(Rs.
In Millions)
|
Particulars |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Sundry Creditors |
125.649 |
141.073 |
92.052 |
|
Creditors for Expenses |
6.325 |
3.983 |
2.349 |
|
Sundry Creditors for Capital Goods |
6.107 |
- |
- |
Note – The Registered
office address of the company has been shifted from 7/8 Ghaswala Bldg., Naigaum
Cross Road, Dadar, Mumbai, Maharashtra, India to present address w.e.f.
05.11.2008.
Form 8
|
Corporate
identity number of the company |
U21017MH1993PTC074023 |
||||||
|
Name of the
company |
SESHAASAI BUSINESS FORMS PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
, Lalwani Industrial Estate, 14, |
||||||
|
This form is for |
Creation of charge |
||||||
|
Type of charge |
Immovable
property |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
No Instrument. Memorandum
of Entry (MOE) - Mortgage by Deposit of Title Deeds for extension of existing
mortgaged property and mortgage on additional (new) property/ies on 08.02.2010 |
||||||
|
Date of
instrument Creating the charge |
08.02.2010 |
||||||
|
Amount secured by
the charge |
Rs. 177.600
Millions |
||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction
letter or as stipulated by Bank from time to time Terms of
Repayment As per Sanction
letter or as stipulated by Bank from time to time Margin As per Sanction
letter or as stipulated by Bank from time to time Extent and
Operation of the charge Various limits
agg. to Rs.177.600 millions. granted by Axis Bank secured by extending Equitable
Mortgage on imm. Properties of Others The title deeds
are deposited with Axis Bank Ltd., acting for itself and as an agent of Karur Vysya Bank Ltd. |
||||||
|
Particulars of
the property charged |
Mortgage by way
of deposit of Title Deeds in resp. of Imm. Properties of the Company situated
at Subhash Nagar, Mortgage by way
of deposit of Title Deeds in respect of immovable Properties of the Company
at C-402, TTC, MIDC, Turbhe, Navi Mumbai – 400705 Mortgage by way
of deposit of Title Deeds in respect of immovable Properties of the Company
at C-452, TTC, MIDC, Turbhe, Navi Mumbai – 400705 Mortgage by way
of deposit of Title Deeds in respect of imm. Prop. of Mortgage by way
of deposit of Title Deeds in respect of immovable Properties of All that piece
& parcel of land adm.540 sq.mtrs (togetherwith Factory Bldg.thereon)
bearing Plot No.C-398 in Trans Thane Creek Industrial Estate Area, Vill. Turbhe, Dist. Thane All that piece
& parcel of land adm.540 sq.mtrs alongwith Factory being Built-up Area
adm.209.91sq.mtrs bearing Plot No.C-399 in "Trans Thane Creek Industrial
Estate Area" Vill. Turbhe, Dist.
Thane |
Fixed Assets
- Plant and Machinery
- Electric Installation
- Computer and Data processing System
- Office Equipment
- Fire Extinguisher
- Furniture and Fixture
- Vehicles
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.44.73 |
|
|
1 |
Rs.73.20 |
|
Euro |
1 |
Rs.63.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
|
|
--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 |
|
45 |
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.