MIRA INFORM REPORT
|
Report Date : |
21.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
CLASSIC STRIPES PRIVATE LIMITED |
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Formerly Known As : |
CLASSIC STRIPES LIMITED |
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Registered Office : |
164, Senapti Bapat Marg, Matunga (West), Mumbai – 400 016, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
30.09.1987 |
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Com. Reg. No.: |
11-044849 |
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Capital Investment
/ Paid-up Capital : |
Rs.119.625 Millions |
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CIN No.: [Company
Identification No.] |
U74999MH1987PLC044849 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC1057G |
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PAN No.: [Permanent
Account No.] |
AAACC5076F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Automotive Graphic worldwide. |
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No. of Employees : |
1600 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 2750000 |
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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 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.
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 |
LOCATIONS
|
Registered Office : |
164, Senapti Bapat Marg, Matunga (West), Mumbai – 400 016, |
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Tel. No.: |
91-22-24303826/ 24303853/ 8688/ 24328463/ 64 / 24211708/ 24365303/
24389550/ 66793500 |
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Fax No.: |
91-22-24308688/ 24303826/ 66793600 |
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E-Mail : |
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Website : |
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Corporate Office : |
Astarc House, 76/79 Makwana Lane, Takpada Off Andheri Kurla Road,
Marol, Andheri (East), Mumbai - 400 059, Maharashtra, India |
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Tel. No.: |
91-22-66793500 |
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Fax No.: |
91-22-66793600 |
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Factory : |
Located at: Vasai, District Thane, |
DIRECTORS
As on 17.05.2010
|
Name : |
Mr. Kishore Manohar Musale |
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Designation : |
Managing Director |
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Address : |
601, 6th Floor, Kubelisque, |
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Date of Birth/Age : |
15.02.1954 |
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Date of Appointment : |
30.09.1987 |
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DIN No.: |
00144029 |
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Name : |
Mrs. Chhaya Kishore Musale |
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Designation : |
Director |
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Address : |
601, 6th Floor, Kubelisque, |
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Date of Birth/Age : |
09.09.1955 |
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Date of Appointment : |
30.09.1987 |
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DIN No.: |
00640296 |
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Name : |
Mr. Govind Guno Desai |
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Designation : |
Director |
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Address : |
202 Kedar Apartments, Jamshedji Marg, Mahim, Mumbai – 400 016, |
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Date of Birth/Age : |
04.06.1933 |
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Date of Appointment : |
01.01.1997 |
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DIN No.: |
00140853 |
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Name : |
Mr. Vishwanath M. Arekar |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
23.08.1922 |
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Date of Appointment : |
30.07.1999 |
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Date of Ceasing : |
01.07.2008 |
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Name : |
Mr. Vivek Rai Gupta |
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Designation : |
Additional Director |
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Address : |
Taj |
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Date of Birth/Age : |
27.04.1956 |
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Date of Appointment : |
09.06.2008 |
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Date of Ceasing : |
30.09.2008 |
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Name : |
Mr. Ramaswamy P. Subramaniam |
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Designation : |
Additional Director |
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Address : |
131 East, |
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Date of Birth/Age : |
30.09.1966 |
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Date of Appointment : |
09.06.2008 |
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Date of Ceasing : |
05.07.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Bhagat |
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Designation : |
Chief Operating Officer |
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Date of Birth/Age : |
45 Years |
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Qualification : |
MBA |
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Experience : |
15 Years |
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Date of Appointment : |
13.04.2009 |
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Last Employment: |
Caparo |
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Name : |
Mr. Brij Anand |
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Designation : |
Associates |
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Date of Birth/Age : |
27 Years |
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Qualification : |
Masters in Business Economics |
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Experience : |
4 Years |
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Date of Appointment : |
15.09.2008 |
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Last Employment: |
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Name : |
Mr. Ujwal Julka |
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Designation : |
Vice President- Sales |
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Date of Birth/Age : |
50 Years |
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Qualification : |
MBA |
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Experience : |
20 Years |
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Date of Appointment : |
16.07.2003 |
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Last of Employment: |
Garware Polyster Limited, Mumbai |
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Name : |
Mr. Krishnan Narayanand |
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Designation : |
General Manager- Marketing |
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Date of Birth/Age : |
44 Years |
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Qualification : |
B.com, DMM |
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Experience : |
18 Years |
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Date of Appointment : |
10.11.2003 |
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Last Employment: |
Blow Plast Ergonomics Limited, Mumbai |
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Name : |
Mrs. Swapna Virkar |
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Designation : |
Project Manager- Fleet Graphics |
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Date of Birth/Age : |
32 Years |
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Qualification : |
LLB, MBA |
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Experience : |
9 Years |
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Date of Appointment : |
02.11.2009 |
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Last Employment: |
Professional Consultant |
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|
Name : |
Mr. Amit Dakshini |
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Designation : |
Vice President |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B.Sc and PGDBM |
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Experience : |
14 Years |
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Date of Appointment : |
01.02.2010 |
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Last Employment: |
Edelweiss Capital Limited, Mumbai |
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Name : |
Mr. Mangesh Mukund Deoka |
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Designation : |
Secretary |
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Address : |
A/24, Anjana C.H.S. Limited, |
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Date of Birth/Age : |
25.12.1972 |
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Date of Appointment : |
27.09.2010 |
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PAN No.: |
AAFPD8492C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.05.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kishore M. Musale |
|
7487371 |
|
Chhaya K. Musale |
|
2475000 |
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Salil K. Musale |
|
750000 |
|
Sameer K. Musale |
|
750000 |
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Astarc Agro and Foods Private Limited, Mumbai, |
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10 |
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Astarc Mining Private Limited, Mumbai, |
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10 |
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Astarc Industries Private Limited , Mumbai, |
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10 |
|
Pro-Tech Sports and Safety Products Private Limited, Mumbai, |
|
22514 |
|
Ulfat Rai Gupta |
|
238800 |
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Ramaswamy Palghast Subrabgmaniam |
|
238800 |
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Total |
|
11962515 |
As on 07.09.2010
|
Category |
|
Percentage of Holding |
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Bodies
corporate |
|
0.19 |
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Directors
or relatives of directors |
|
95.82 |
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Others |
|
3.99 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Graphic worldwide. |
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Products : |
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Brand Name : |
“AUTOGRAPHIX” |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
1600 [Approximately] |
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Bankers : |
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Facilities : |
Note: a) Term loans from banks are secured by charge on respective assets and pari passu charge on all movable and immovable assets of the company. b) Vehicle loans are secured by hypothecation of the vehicles financed. c) Cash Credits are secured by hypothecation of current assets of the company and charge on some of the immovable properties of the company. d) Secured loans aggregating Rs. 1645.164 Millions (Previous year Rs. 738.765 Millions are additionally secured by personal guarantee from of the directors. e) Temporary overdraft form Choundeshwari Sahakari Bank Limited- Ichalkaranji was secured by the mark on FDR’s of Rs. 20.000 Millions during the year.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vilas K. Shah and Company Chartered Accountants |
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Address : |
DolBin-Shir, 4th Floor, 69/71, Janmabhoomi
Marg, Fort, Mumbai – 400 023, |
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Tel. No.: |
91-22-2873033/ 2835338 |
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Fax No.: |
91-22-2835338 |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 17.05.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12,062,515 |
Equity Shares |
Rs.10/- each |
Rs.120.625 Millions |
|
|
|
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As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11962515 |
Equity Shares |
Rs.10/- each |
Rs.119.625 Millions |
|
|
|
|
|
Note:
- Of the above, 8235000 Shares were allotted as fully paid bonus share
by capitalization of General Reserves.
- 22515 Shares are allotted as full paid shares to the shareholders of
forma sports private limited (FSPL) pursuant to the scheme of arrangement entered into between the
company and FSPL of consideration other than cash.
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 |
119.625 |
119.400 |
119.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
569.382 |
391.717 |
286.462 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
689.007 |
511.117 |
405.862 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1581.434 |
769.695 |
736.240 |
|
|
2] Unsecured Loans |
424.780 |
1033.790 |
142.825 |
|
|
TOTAL BORROWING |
2006.214 |
1803.485 |
879.065 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2695.221 |
2314.602 |
1284.927 |
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|
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|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
1036.717 |
546.931 |
587.978 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
Capital Advances |
91.950 |
238.381 |
7.706 |
|
|
|
|
|
|
|
|
INVESTMENT |
552.935 |
551.600 |
0.100 |
|
|
DEFERREX TAX ASSETS |
6.826 |
7.092 |
3.651 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
239.004 |
187.076 |
146.786 |
|
|
Sundry Debtors |
505.997 |
501.737 |
562.302 |
|
|
Cash & Bank Balances |
28.536 |
36.630 |
50.737 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
977.470 |
749.002 |
444.206 |
|
Total
Current Assets |
1751.007 |
1474.445 |
1204.031 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
394.960 |
200.810 |
139.938 |
|
|
Other Current Liabilities |
19.541 |
16.536 |
16.082 |
|
|
Provisions |
329.713 |
286.501 |
362.519 |
|
Total
Current Liabilities |
744.214 |
503.847 |
518.539 |
|
|
Net Current Assets |
1006.793 |
970.598 |
685.492 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2695.221 |
2314.602 |
1284.927 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2126.945 |
1606.683 |
1840.157 |
|
|
|
Other Income |
NA |
22.947 |
69.181 |
|
|
|
TOTAL (A) |
NA |
1629.630 |
1909.338 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
698.547 |
630.141 |
|
|
|
(Decrease)/ Increase in Stock |
|
(39.475) |
22.340 |
|
|
|
Purchases Traded Goods |
|
11.059 |
16.225 |
|
|
|
Employee Cost |
|
119.974 |
132.272 |
|
|
|
Operating and Other Expenses |
|
418.781 |
294.706 |
|
|
|
TOTAL (B) |
|
1208.886 |
1095.684 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
420.744 |
813.654 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
165.589 |
100.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
255.155 |
713.418 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
|
93.380 |
111.954 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
215.907 |
161.775 |
601.464 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
38.242 |
56.519 |
197.403 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
177.665 |
105.256 |
404.061 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
266.447 |
171.191 |
17.668 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
41.000 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
179.100 |
|
|
|
Tax on Interim Dividend |
0.000 |
0.000 |
30.438 |
|
|
BALANCE CARRIED
TO THE B/S |
434.112 |
266.447 |
171.191 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
37.820 |
87.996 |
175.755 |
|
|
TOTAL EARNINGS |
37.820 |
87.996 |
175.755 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
496.445 |
450.180 |
|
|
|
Traded goods |
NA |
8.280 |
13.053 |
|
|
|
Capital Goods |
NA |
13.239 |
2.957 |
|
|
TOTAL IMPORTS |
NA |
517.964 |
466.190 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.88 |
8.91 |
33.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA |
6.46 |
21.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.15 |
10.07 |
32.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.74 |
8.00 |
33.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.32 |
1.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.99 |
4.51 |
3.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.35 |
2.93 |
2.32 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
a) Micro And Small Enterprises |
0.000 |
0.000 |
0.000 |
|
b) Others |
394.960 |
200.810 |
139.938 |
|
Total |
394.960 |
200.810 |
139.938 |
Operations:
The net sales turnover of the company has increased form Rs. 1606.683 Millions
to Rs. 2126.945 Millions recording an increase of 32.38% over the previous
year. Net Profit Before Tax was Rs. 161.775 Millions of previous year as
compared Rs. 215.907 Millions of current year, recording an Inrease of 33.46%
in profit before tax of the current financial year.
FORM 8
|
Corporate
identity number of the company |
U74999MH1987PLC044849 |
|
Name of the
company |
CLASSIC STRIPES LIMITED |
|
Address of the
registered office or of the principal place of business in |
164, Senapti Bapat Marg, Matunga (West), Mumbai – 400 016, |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
The Saraswat Co-Operative Bank Limited, SME Vikhroli Branch, Prabhat
Bhavan, LBS Marg, Vikhroli West, Mumbai – 400 079, Maharashtra, India E-Mail: njbhatia@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation of Movable Property |
|
Date of
instrument Creating the charge |
16/10/2009 |
|
Amount secured by
the charge |
Rs.100.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
15% p.a. or at such rate as may be determined by the bank from time to time. Terms of
Repayment: On demand Margin: 30% Extent and Operation
of the charge: This is short term cash credit facility. |
|
Short particulars
of the property charged |
As Per Agreement Hypothecation of
all the book debts, outstanding, monies receivables, claims and bills. |
|
Corporate identity
number of the company |
U74999MH1987PLC044849 |
|
Name of the
company |
CLASSIC STRIPES LIMITED |
|
Address of the
registered office or of the principal place of business in |
164, Senapti Bapat Marg, Matunga (West), Mumbai – 400 016, |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Supplementary
Recording Letter Evidencing Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
30.03.2007 |
|
Amount secured by
the charge |
Rs.340.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Cash Credit : 1.25%
below State Bank Advance Rate (SBAR) minimum 11.50% p.a. at monthly rest. Term Loan: (O/S)
1.50% below (SBMTLR) effective rate 8.75% p.a. at monthly rest. Terms of
Repayment: Term Loan: The
loan is repaid in 60 monthly installments of Rs.5.000 Millions starting from
April 06. Margin: Cash Credit: Raw
Materials 25%, SIP 33%, Finished Goods 33%, Book Debts (90 days) 40% Terms Loan: 33% Letter of Credit
: As per RBI directives on margin on import L/C and margin on holding of imported
Raw Material will be adhered to. Extent and
Operation of the charge: Cash Credit till
the loan is repaid Term Loan 5 years |
|
Particulars of
the property charged |
First Pari Passu
charge created by way of collateral security on the land and Building at plot
bearing survey no.235 situated at Gokhivare, Taluka Bassein, District Thane And Second charge on
land and Building at plot bearing survey no.76, Hissa No.6 (Pt) CTS No. 610
Marol. |
|
Name of the company |
CLASSIC STRIPES LIMITED |
|
Presented
By |
Classic Stripes Limited and The Saraswat Co-Operative Bank Limited, Marol Branch, Marol Maroshi Road, Andheri (East), Mumbai – 400 059, Maharashtra, India |
|
1) Date and description of instrument creating the change |
Agreement of
Hypothecation of movable property for L/C on D/A basis dated 20.06.2005. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.43.000
millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All the stocks,
tangible movable property, raw materials etc. and more particularly as shown
in the above referred Agreement dated 20.06.2005. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Other Terms and
Conditions as per the above referred Agreement dated 20.06.2005. |
|
5) Name and Address and description of the person entitled to the charge. |
The Saraswat Co-Operative Bank Limited, Marol Branch, |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2009 (Rs.
in millions) |
|
a) Bank Guarantees for the facilities availed by the Company |
7.452 |
|
b) Excise Demand contested before Commissioner (Appeals) |
3.306 |
|
c) The amount pertains to three High Value cases which are decided in favour
of the company by CESTAT. However Department has preferred appeals against
these orders before honorable Supreme Court in one case and honourable High
Court in two cases. |
39.233 |
|
d) Bombay Sales Tax demand contested before Dy. Commissioner (Appeals)
|
30.361 |
|
e) Central Sales Tax demand contested before Dy. Commissioner
(Appeals) |
5.105 |
|
|
|
FIXED ASSETS:
- Land – Freehold
- Buildings
- Plant and Machinery
- Furniture and Fixtures
- Air conditioner
- Electrical Installation
- Office Equipment
- Computer
- Motor Car
- Motor Cycle
- Cycle
- Computer
Software
WEBSITE DETAILS:
OVERVIEW:
Subject, established
in 1987, is one of the largest manufacturers of automotive graphics in the world,
with a production capacity of over 10 million decal sets per annum. Today,
subject has a market share of 70% in the Indian automotive OEM printing
industry. Subject is a global player with presence in the
Subject is a premium
imaging solutions provider with diversified printing and a strong presence in
the following verticals:
- OEM graphics for the auto industry
- Large/small format graphics, dashboard
trims and other car accessories for the Retail Aftermarket
- Fleet Graphics for wrapping corporate
fleets
- Outdoor/indoor POP products and signage
for retail outlets
- Large/small format graphics and domed
labels for global markets
- Polycarbonate fascia for the domestic
consumer durables industry
Subject has strong
technological capabilities with three world class manufacturing facilities, an
in-house design studio and an advanced quality control (QC) lab:
- Broad production capabilities to serve
various industries/applications and deliver increasingly complex products
- Highest quality and consistency levels –
production at global standards across all product types/complexities even
at high volumes
- Efficient manufacturing processes which
minimize cost
- Unparalleled ability to deliver products
just-in-time (JIT) as required by OEMs
- Advanced equipment for material and
product testing ensures consistent manufacturing of high-quality
long-lasting products
Subject is highly
committed to quality and innovation which is evident from the numerous awards
it has won over the years and the creative designs developed for its customers
in its in-house design studio. With an excellent in-house QC lab and design
studio, subject is widely regarded as a leader in new product development.
For the last 5
consecutive years (2004-2008), subject has been featured in the “Top 25 Best
Places to Work in
AWARDS:
2009: Federation
of European Screenprinters Association’s (FESPA):
Gold and Silver award for "Excellence in Printing"
Gold and Silver award for "Best Printing in Process and Spot colors"
2008: Ranked 13th in the “Top 25 Best Places to
Work in
2007: Ranked 5th in the “Top 25 Best Places to
Work in
2006: Specialty Graphic Imaging Association’s (
First Prize award for Printing Excellence in Automotive Graphics"
FESPA “Excellence in Four Colour Printing” award
Ranked 2nd in the “Top 25 Best Places to Work in
2005: SGIA "Environment Achievement"
award FESPA "Excellence in Four Colour Printing” award
Ranked 16th in the “Top 25 Best Places to Work in
2004: Ranked 19th in the “Top 25 Best Places to
Work in
FESPA First Prize award for "Printing Excellence in Automotive
Graphics"
SGIA "Environment Achievement" and "Safety Recognition"
awards
2003: “Excellence in Screen Printing” award from
The Bombay Master Printers Association
SGIA "Safety Recognition" award One of 5 non-American companies to
receive SGIA’s "Environment Achievement" award
2002: National Award for “Excellence in
Printing” from the All India Federation of Master Printers “Excellence in
Screen Printing” award from Screen Print Media
2001: Received “OM Operation”, a milestone
celebration from Hero Honda. “Achievement Award” from Screen Print Media
2000: “Award of Merit” from The Bombay Master
Printers Association
1999: National Award for “Excellence in
Printing” from All
1990: Recognized for “Outstanding Indigenization
Performance” by Hero Honda
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.44.93 |
|
|
1 |
Rs.72.91 |
|
Euro |
1 |
Rs.64.34 |
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.