MIRA
INFORM REPORT
|
Report Date : |
30.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHARDIKALA PUBLICATIONS PRIVATE LIMITED |
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Registered
Office : |
Guru Harkrishnan Public School Building Press Road, Patiala – 147001,
Punjab |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
14.07.1987 |
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Com. Reg. No.: |
007549 |
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Capital
Investment / Paid-up Capital : |
Rs.18.500 Millions |
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CIN No.: [Company Identification
No.] |
U74300PB1987PTC007549 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTLC0769D |
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PAN No.: [Permanent Account No.] |
AAACC73111F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Printing and Publishing of Newspapers, Magazines, etc. |
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No. of Employees
: |
Not divulged by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 131876 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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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 but correct. The company can be considered for business dealings at usual trade
terms an 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 |
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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 : |
Guru Harkrishnan Public School Building Press Road, Patiala – 147001,
Punjab, India |
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E-Mail : |
Note: Telephone Numbers are not available
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Jagjit Singh Dardi |
|
Designation : |
Director |
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Address : |
#844, SST Nagar, Patiala – 147001, Punjab |
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Date of Birth/Age : |
19.01.1949 |
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Date of Appointment : |
14.07.1987 |
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Name : |
Ms. Harbans Kaur |
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Designation : |
Director |
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Address : |
Old Press Road, Patiala – 147001, Punjab |
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Date of Appointment : |
14.07.1987 |
|
|
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|
Name : |
Ms. Jaswinder kaur Dardi |
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Designation : |
Director |
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Address : |
#844, SST Nagar, Patiala – 147001, Punjab |
|
Date of Appointment : |
14.07.1987 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
EQUITY SHARES AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Jagjeet Singh |
|
75660 |
|
Jaswinder Kaur |
|
37600 |
|
Harbans Kaur |
|
3300 |
|
Harpreet Singh Dardi |
|
6530 |
|
Chardikala Printing Press Private Limited, Punjab |
|
45000 |
|
Chardikala Printing Press, Punjab |
|
5000 |
|
Satbeer Singh Dardi |
|
3410 |
|
Gurleen Kaur |
|
3000 |
|
Ashmeet Kaur |
|
2000 |
|
Total |
|
181500 |
PREFERENCE SHARES AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Seema Khurana |
|
50 |
|
Pritam Kaur |
|
50 |
|
Nirmal Singh |
|
150 |
|
Indrajeet Kaur |
|
100 |
|
Gurpreet Kaur |
|
100 |
|
Ramaandeep Kaur |
|
100 |
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Swaranjeet Singh |
|
50 |
|
Harbanjan Kaur |
|
150 |
|
Arvinder Kaur |
|
100 |
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Sudeep Kaur |
|
100 |
|
Jagjeet Singh Dardi |
|
200 |
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Satbeer Singh Dardi |
|
250 |
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Manjeet Singh |
|
100 |
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Amarjeet Singh |
|
50 |
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Charanjeet Kaur |
|
100 |
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Kutwant Singh |
|
50 |
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Jaspal Singh |
|
100 |
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Gurucharan Singh |
|
200 |
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Manjeet Kaur |
|
200 |
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Surinder Singh |
|
200 |
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Lakhabir Singh |
|
100 |
|
Hira Auto Mobiles, Punjab |
|
50 |
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Harpreet Singh Dardi |
|
950 |
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Total |
|
3500 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
28.00 |
|
Directors or relatives of Directors |
72.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Printing and Publishing of Newspapers, Magazines, etc. |
GENERAL INFORMATION
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No. of Employees : |
Not divulged by the management |
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Bankers : |
Punjab and Sind Bank, Mall Road, Patiala - 147001, Punjab, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
JPS and Associates Chartered Accountant |
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Address : |
379/1, Old Ghas Mandi, Sheran Wala Gate, Patiala – 147001, Punjab,
India |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500 |
Preferences Share |
Rs.100/- each |
Rs.0.350 Million |
|
181500 |
Equity Shares |
Rs.100/- each |
Rs.18.150 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
181500 |
Equity Shares |
Rs.100/-
each |
Rs.18.150
Millions |
|
3500 |
Preferences Share |
Rs.100/- each |
Rs.0.350 Million |
|
|
Share Application Money |
|
Rs.2.461 Millions |
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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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|
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1] Share Capital |
18.500 |
18.500 |
20.961 |
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2] Share Application Money |
2.461 |
2.461 |
0.000 |
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3] Reserves & Surplus |
12.008 |
10.334 |
9.607 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
32.969 |
31.295 |
30.568 |
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LOAN FUNDS |
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1] Secured Loans |
6.925 |
8.063 |
7.768 |
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2] Unsecured Loans |
5.308 |
2.567 |
0.259 |
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TOTAL BORROWING |
12.233 |
10.630 |
8.027 |
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DEFERRED TAX LIABILITIES |
1.713 |
1.324 |
1.014 |
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TOTAL |
46.915 |
43.249 |
39.609 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
22.977 |
23.359 |
17.418 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
1.514
|
3.135 |
0.573 |
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Sundry Debtors |
36.689
|
21.088 |
29.542 |
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Cash & Bank Balances |
5.236
|
1.463 |
3.001 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
5.930
|
6.845 |
1.208 |
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Total
Current Assets |
49.369
|
32.531 |
34.324 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
17.764
|
6.182 |
11.132 |
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Other Current Liabilities |
6.110
|
5.691 |
0.766 |
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Provisions |
1.557
|
0.768 |
0.235 |
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Total
Current Liabilities |
25.431
|
12.641 |
12.133 |
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Net Current Assets |
23.938
|
19.890 |
22.191 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
46.915 |
43.249 |
39.609 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
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SALES |
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TOTAL |
|
58.600 |
44.300 |
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NET PROFIT FOR
THE YEAR |
|
1.037 |
0.871 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.14
|
0.74 |
0.66 |
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Current Ratio (Current Asset/Current Liability) |
|
1.94
|
2.57 |
2.83 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate identity number of the company |
U74300PB1987PTC007549 |
|
Name of the company |
CHARHDIKALA PUBLICATIONS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Guru Harkrishan Public School Building
Press Road, Distt Patiala – 147001, Punjab, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book Debts Movable Property Immovable Property |
|
Particular of charge holder |
PUNJAB AND SIND BANK |
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Nature of instrument creating charge |
Charge Created on Stocks, Book Debts And
Immovable Property Vide Form No. 192 (Rr) |
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Date of instrument Creating the charge |
08/12/2010 |
|
Amount secured by the charge |
Rs.13.500 Millions |
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Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest 13.50 % Terms of Repayment On Demand Margin 25 % Extent and Operation of the charge Full |
|
Short particulars of the property charged |
Title Deed No. 4317 Dated 20.06.2002 At
Sst Nagar, Patiala-300 Sq Yrds Title Deed No. 9422 Dated 21.08.2006 St Shanti
Nagar, Tafazalpura, Patiala-188.33 Sq Yrds Title Deed No. 3571 Dated
29.08.1986 At Press Road, Patiala-180 Sq Yrds Title Deed No. 441 Dated
11.04.1989 At Press Road, Patiala-14.25 Sq Yrds Title Deed No. 2185 Dated
26.05.1998 At Sst Nagar, Patiala-250 Sq Yrds Title Deed No. 442 Dated
11.04.1989 At Press Road, Patiala-28.5 Sq Yrds Title Deed No. 16279 Dated
02.01.2006 At Shanti Nagar, Patiala-383 Sq Yrds |
|
Date of instrument modifying the charge |
20/07/2007 |
|
Particulars of the present modification |
ODP Limit Enhanced From Rs. 6000 Millions
To Rs. 13.500 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.45.21 |
|
|
1 |
Rs.74.30 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
30 |
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.