MIRA
INFORM REPORT
|
Report Date : |
10.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEHTA PRINT ARTS PRIVATE LIMITED |
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|
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Registered Office : |
E-27, (Basement
), Naraiana Vihar, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
07.04.1988 |
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Com. Reg. No.: |
55-31243 |
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Paid up capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1988PTC031243 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELM10657D |
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|
PAN No.: [Permanent
Account No.] |
AAACM2065J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter,
Printing and Distribution of Public
Issue Stationery, Stationery, etc. |
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No. of Employees : |
120
(approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 389460 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office: |
E-27, (Basement
), Naraiana Vihar, |
|
Mobile No. : |
91-9810152974
(Mr. Subhash Mehta) |
|
E-Mail : |
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|
Website : |
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|
Area |
200 Sq. ft |
|
Location |
Leased |
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Corporate
Office / Factory : |
15/1, Milestone, |
|
Tel. No.: |
91-124-4106973
/4106976/2346477/2346489/2345619 |
|
Fax No.: |
91-124-2345618 /
4106977 |
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E-Mail : |
|
|
Area |
8000 Sq. yard |
DIRECTORS
As on: 29.09.2011
|
Name : |
Mr. Subhash Mehta
|
|
Designation : |
Managing Director
|
|
Address : |
6/13J, |
|
Date of
Birth/Age : |
27.10.1945 |
|
Qualification
: |
B. Com |
|
Experience : |
38 Years |
|
Date of
Appointment : |
07.04.1988 |
|
|
|
|
Name : |
Mr. Sudhir Mehta |
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Designation : |
Director |
|
Address : |
6/13J, |
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Date of
Birth/Age : |
04.04.1951 |
|
Qualification
: |
Diploma in
Mechanical Engineer |
|
Experience : |
35 Years |
|
Date of
Appointment : |
07.04.1988 |
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|
|
|
Name : |
Mr. Sudesh Mehta |
|
Designation : |
Director |
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Address : |
6/13J, |
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Date of
Birth/Age : |
10.09.1954 |
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Qualification
: |
Graduate |
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Experience : |
33 Yeas |
|
Date of
Appointment : |
07.04.1988 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sudhir Mehta |
|
8000 |
|
Sudesh Mehta |
|
4000 |
|
Veena Mehta |
|
4000 |
|
Subhash Mehta |
|
6500 |
|
|
|
2000 |
|
Anju Mehta |
|
4000 |
|
Sudhir Mehta
(HUF) |
|
2500 |
|
Sudesh Mehta
(HUF) |
|
2500 |
|
Neha Mehta |
|
2000 |
|
Sumant Mehta |
|
4250 |
|
Suchi Mehta |
|
4000 |
|
Surbhi Mehta |
|
2000 |
|
Sameer Mehta |
|
4250 |
|
Total |
|
50000 |
As on 29.09.2011
|
Category |
Percentage |
|
Directors or
relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturer,
Exporter, Printing and Distribution of
Public Issue Stationery, Stationery,
etc. |
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|
|
|
Products : |
v Machine Made Envelopes (C4, A4, C5, C6, DL, Wage Envelope, Dinner Money Envelope, Board Envelopes, Duke Envelopes, CD Envelopes) v Duplicate Books v Invoice Books v Order Books v Raffle/ Cloakroom Ticket Books v Bingo Tickets v Pads/Envelopes/Pen/Pencil sets v Packing Wrap Sets v Colouring Books for Children v Multi Coloured Activity Paper Sets v Reporters Note Books v Artists Sketch Pad – Multi coloured v Bingo Ticket Boards v Note Books v Writing Pads v Drawing Sheet Pads v Fluorescent Sheet Pads v Packing Rolls v Cheque Books v AGM Notices v Computer Stationery |
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Exports : |
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Countries : |
·
UK |
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Imports : |
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Products |
·
Raw
Materials |
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Countries : |
·
UK ·
China |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
120
(approximately) |
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Bankers : |
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Facilities : |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
S K Mehta and
Company Chartered
Accountants |
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Address: |
2682, Gali No.2, Beadonpura, |
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Tel. No.: |
91-11-2572 5156, 2574 3879 |
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Resi. No.: |
91-11-25446990 / 25446986 |
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Fax No.: |
91-11-2576 1279 |
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E-Mail : |
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Associates/Subsidiaries/
Joint Ventures: |
Vandana Printing Works Private Limited Address: 15/1,
Milestone, Date of Incorporation : 04.05.1993 Legal Form :Private
Limited Company Line of Business
:Printing of Public Issues, Posters, Calendars, Magazines, Security Printers,
Envelope Manufacturing |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 100/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 100/- each |
Rs.5.000 Millions |
|
|
|
|
|
Note :
Issued subscribed and paid up capital includes
45000 equity shares of Rs. 100/- each fully paid up and issues as bonus shares
by capitalizing general reserves and surplus profits.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
92.365 |
78.643 |
73.002 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
97.365 |
83.643 |
78.002 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
26.566 |
52.930 |
52.781 |
|
|
2] Unsecured Loans |
0.399 |
0.715 |
2.588 |
|
|
TOTAL BORROWING |
26.965 |
53.643 |
61.369 |
|
|
DEFERRED TAX LIABILITIES |
3.764 |
3.527 |
4.179 |
|
|
|
|
|
|
|
|
TOTAL |
128.094 |
140.815 |
137.550 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
114.217 |
99.699 |
101.010 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.280 |
0.394 |
0.915 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.952
|
7.749
|
11.812
|
|
|
Sundry Debtors |
37.479
|
42.329
|
21.099
|
|
|
Cash & Bank Balances |
9.777
|
4.450
|
1.134
|
|
|
Other Current Assets |
0.000
|
1.240
|
0.292
|
|
|
Loans & Advances |
23.892
|
60.628
|
55.814
|
|
Total
Current Assets |
80.100
|
116.396 |
90.151
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
7.613
|
4.082
|
2.831
|
|
|
Sundry Creditors |
48.410
|
35.920
|
18.673
|
|
|
Provisions |
10.480
|
35.672
|
33.022
|
|
Total
Current Liabilities |
66.503
|
75.674 |
54.526
|
|
|
Net Current Assets |
13.597
|
40.722 |
35.625
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
128.094 |
140.815 |
137.550 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
260.409 |
216.751 |
142.971 |
|
|
|
Other Income |
0.412 |
0.257 |
1.455 |
|
|
|
TOTAL (A) |
260.821 |
281.354 |
144.426 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
262.367 |
133.691 |
|
|
|
TOTAL (B) |
226.407 |
262.367 |
133.691 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.414 |
18.987 |
10.735 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.414 |
18.987 |
10.735 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.198 |
11.348 |
9.901 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
21.216 |
7.639 |
0.834 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
7.495 |
1.997 |
0.468 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
13.721 |
5.642 |
0.366 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
77.371 |
71.730 |
71.365 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
91.093 |
77.371 |
71.730 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
274.43 |
112.84 |
7.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.26
|
2.00
|
0.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.14
|
3.52
|
0.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.91
|
3.53
|
0.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.09
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.95
|
1.54
|
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.53 |
1.65 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The
registered office address of the company has been shifted from A-39, Ring Road
Market, Rajouri Garden New Delhi – 110
029 Delhi, India to the present address
w.e.f. 20.09.2010
Form : 8
|
Corporate identity
number of the company |
U74899DL1988PTC031243 |
|
Name of the
company |
MEHTA PRINT ARTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A – 39, Ring Road
Market, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Others |
|
Particular of
charge holder |
Standard Chartered Bank, 10, E-Mail: gkjain1234@rediffmail.com |
|
Nature of
instrument creating charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
23.04.2010 |
|
Amount secured by
the charge |
Rs. 100.900
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest : As per Facility
Letter dated 24.03.2010 Term
of repayment : As per facility
letter dated 24.03.2010 Margin : As per facility
letter dated 24.03.2010 Extent and operation of the charge : Extent and
operation – 100% Others : Nil |
|
Short Particulars
of the property charged |
Hypothecation by
way of first and exclusive charge overall present and future current assets of
the company stored or to be stored at the company’s Godowns or premises or
wherever else the same may be. |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1988PTC031243 |
|
Name of the company
|
MEHTA PRINT ARTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A – 39, Ring Road
Market, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Standard Chartered Bank, 10, E-Mail: gkjain1234@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry |
|
Date of
instrument Creating the charge |
11.06.2009 |
|
Amount secured by
the charge |
Rs.102.318
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and Operation
of the charge: Extent and Operation – 100% Others : The above to
secure the flowing : Mehta Print Arts
Private Limited = Rs. 81.900 Millions Vandana Printing
Works Private Limited = Rs. 20.418 Millions |
|
Short particulars
of the property charged |
Equitable Mortgage by way of first and exclusive charge over company’s
immovable property bearing Plot No. 472, Phase – III, Udyog Vihar, Gurgaon
together with all buildings and structures thereon or to be thereon. |
Trade
References
v Jaiprakash Associates Limited
J A House,
Basant Lok, Vasant Vihar,
Mr. Harish Vaid
v Raj Dealers and Distributors
4/14 A,
Mr. Rahesh Banaor
v Forbo Swiff Adlesives Limited
Bridge Street,
Cattenis, Caubridgeshine,
v Ackerman Group PLC,
v Tallon International Limited
177,
FIXED
ASSETS:
- Machinery
- Building
- Generator
- Furniture and Fixtures
- Vehicle
- Tempo
- Air Conditioner
- Office Equipment
- Fire Extinguisher
- Electrical Installations
- Computers
- Three Wheeler
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. 49.78 |
|
|
1 |
Rs. 80.10 |
|
Euro |
1 |
Rs. 68.81 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.