MIRA
INFORM REPORT
|
Report Date : |
16.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SMM PAPER MARKETING PRIVATE LIMITED |
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Registered
Office : |
No. A-28/1/5, IDA Nacharamranga Reddy, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.04.2005 |
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Com. Reg. No.: |
01-045987 |
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Capital
Investment / Paid-up Capital : |
Rs.21.454 Millions |
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CIN No.: [Company Identification
No.] |
U21020AP2005PTC045987 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS16632A |
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PAN No.: [Permanent Account No.] |
AAICS9428H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider and Trader of Packers and Movers and Paper Products |
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|
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B [32] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 small to mediocre 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) |
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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 : |
No. A-28/1/5, IDA Nacharamranga Reddy, |
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Tel. No.: |
91-40-27155973 / 65195973 |
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Fax No.: |
91-40-27155905 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Vaddiraj Satishbabu |
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Designation : |
Managing Director |
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Address : |
Plot No.33A, 27-10-4/3/1, Near krupa Complex, Safilguda, |
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Date of Birth/Age : |
16.01.1964 |
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Date of Appointment : |
26.04.2005 |
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DIN : |
02037232 |
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Name : |
Mr. Akshaya Babu Vaddiraj |
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Designation : |
Director |
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Address : |
Flat No 404, 3-2-844, Rajeswari Gayathri Sadan, |
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Date of Birth/Age : |
11.06.1961 |
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Date of Appointment : |
02.03.2007 |
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DIN : |
02751985 |
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Name : |
Mr. Vaddiraj Sambasiva Rao |
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Designation : |
Director |
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Address : |
15-1-29, Swamy Vivekananda Block, |
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Date of Birth/Age : |
09.09.1934 |
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Date of Appointment : |
26.04.2005 |
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DIN : |
02491492 |
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Name : |
Mr. Purshottam Gumudaveli |
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Designation : |
Director |
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Address : |
2-6-971, A2/B2, Gayathri Apartments, KLNR Colony, Hanamkonda, |
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Date of Birth/Age : |
22.06.1946 |
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Date of Appointment : |
02.03.2007 |
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DIN : |
02714761 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
V. Satish Babu |
|
1449000 |
|
Vaddiraj Sambasiva Rao |
|
16000 |
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V. Purna Kumari |
|
15000 |
|
V Nirmala |
|
20000 |
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Total |
|
1500000 |
As on 10.01.2011
|
Names of Allottees |
|
No. of Shares
Allotted |
|
V Nirmala |
|
2833 |
|
R. Rajendra Prasad |
|
35000 |
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V. Sidha |
|
1863 |
|
Usha Sri |
|
3333 |
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M. Radha |
|
62000 |
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V. Akshaya Babu |
|
73333 |
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V. Purna Kumari |
|
11000 |
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T. Ramachandra Rao |
|
5000 |
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V. Satish Babu |
|
20763 |
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Total |
|
215125 |
As on 30.09.2010
|
Equity Share
Break Up Category |
Percentage |
|
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Directors or relatives of Directors |
100.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Service Provider and Trader of Packers and Movers and Paper Products |
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Brand Names : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. Ramakrishna and Associates Chartered Accountants |
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Address : |
6012, Emerald |
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Tel. No.: |
91-40-30723210 |
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E-Mail : |
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PAN : |
ACIPM5578P |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs.30.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,715,125 |
Equity Shares |
Rs.10/- each |
Rs.17.151
millions |
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|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs.30.000
millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs.10/- each |
Rs.15.000
millions |
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|
Share Application Money |
|
Rs. 6.454 millions |
|
|
Total |
|
Rs.21.454
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
21.454 |
21.454 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
6.124 |
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|
3] Reserves & Surplus |
9.047 |
7.138 |
5.337 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
30.501 |
28.592 |
26.461 |
|
|
LOAN FUNDS |
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|
|
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|
1] Secured Loans |
32.957 |
33.887 |
17.203 |
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2] Unsecured Loans |
0.820 |
0.820 |
0.820 |
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TOTAL BORROWING |
33.777 |
34.707 |
18.023 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
64.278 |
63.299 |
44.484 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.621 |
21.857 |
21.616 |
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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 |
49.051
|
32.898 |
24.661 |
|
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Sundry Debtors and Advances |
32.091
|
17.614 |
17.525 |
|
|
Cash & Bank Balances |
0.048
|
0.090 |
0.119 |
|
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Deposits |
1.760
|
1.803 |
1.350 |
|
Total
Current Assets |
82.950
|
52.405 |
43.655 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
36.868
|
7.614 |
18.415 |
|
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Other Current Liabilities |
0.000
|
0.000 |
0.225 |
|
|
Provisions |
2.523
|
3.459 |
2.271 |
|
Total
Current Liabilities |
39.391
|
11.073 |
20.911 |
|
|
Net Current Assets |
43.559
|
41.332 |
22.744 |
|
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MISCELLANEOUS EXPENSES |
0.098 |
0.110 |
0.124 |
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TOTAL |
64.278 |
63.299 |
44.484 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
|
|
|
|
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Income |
110.163 |
95.545 |
81.975 |
|
|
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Other Income |
0.142 |
0.500 |
0.007 |
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TOTAL (A) |
110.305 |
96.045 |
81.982 |
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Less |
EXPENSES |
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|
|
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|
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|
Material Purchase |
105.318 |
84.186 |
73.961 |
|
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Personnel Expenditure |
4.235 |
3.831 |
2.898 |
|
|
|
Administrative Expenses |
8.465 |
7.602 |
3.320 |
|
|
|
Preliminary Expenses written off |
0.014 |
0.014 |
0.014 |
|
|
|
Increase decrease in stock |
[16.153] |
[8.237] |
[5.854] |
|
|
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TOTAL (B) |
101.879 |
87.396 |
74.339 |
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PROFIT/[LOSS]
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.426 |
8.649 |
7.643 |
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|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
4.307 |
4.288 |
2.572 |
|
|
|
|
|
|
|
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|
PROFIT/[LOSS]
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.119 |
4.361 |
5.071 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.236 |
1.236 |
0.929 |
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PROFIT / [LOSS]
BEFORE TAX (E-F) (G) |
2.883 |
3.125 |
4.142 |
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|
Less |
TAX (H) |
0.973 |
1.325 |
1.457 |
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PROFIT / [LOSS]
AFTER TAX (G-H) (I) |
1.910 |
1.800 |
2.685 |
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Earnings/[Loss]
Per Share (Rs.) |
1.27 |
1.20 |
1.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.73
|
1.87 |
3.27 |
|
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|
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|
|
|
(PBT/Sales) |
(%) |
2.62
|
3.27 |
5.05 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.78
|
4.21 |
6.34 |
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|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.11 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.40
|
1.60 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10
|
4.73 |
2.09 |
LOCAL AGENCY FURTHER INFORMATION
Operations of the
Company
During the year the company has made a turnover of Rs.110.163 millions compared
to previous year turnover of Rs.95.545 millions and registered a net profit of
Rs.2.883 millions for the financial year. The company expects good future in
the coming years.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U21020AP2005PTC045987 |
|
Name of the
company |
SMM PAPER
MARKETING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No.A-28/1/5, Ida Nacharamranga Reddy, |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10171588 |
|
Type of charge |
|
|
Particular of
charge holder |
Citi Bank N.A., Email : mahesh.patha@citi.com |
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Nature of
instrument creating charge |
|
|
Date of instrument
Creating the charge |
29.07.2010 |
|
Amount secured by
the charge |
Rs.41.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
– On DLOD interest
is to be payable @ 13% p.a. On AROD interest
is to be payable @ 13% p.a. On WCDL interest
is to be payable @ 10.60% p.a. Terms of
Repayment – DLOD facility of
Rs. 8.50 millions to be repayable in 36 months AROD facility of
Rs. 8.00 millions to be repayable in 12 months WCDL facility of
Rs. 25.00 millions to be repayable in 3 months Margin - As
stated in the agreement Extent and
Operation of the charge - As stated in the agreement |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
stocks and book debts EM of the
industrial property at Plot No A-28/1/5, Survey No 124, IDA Nacharam, RR Dist
standing in the name of the company EM of property
situated at 27-10/4/3/1 Plot No 33-A, Sy No 86, Krupa Complex, Malkajgiri
Mandal, RR Dist standing in name of B. Purna Kumar EM of property
situated at Flat No L-52, 05th Floor, Ved Vihar , Awho Colony, Subhash Nagar,
Secunderabad standing in the name of B.V.Ram Kumar and B.V. Naga Hema |
|
Particulars of
the present modification |
Enhancement of
limits to Rs. 41.500 millions |
FIXED ASSETS :
§
Building
§
Plant and Machinery
§
Furniture and Fixtures
§
Computer
§
Office Equipments
§
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.50.56 |
|
|
1 |
Rs.80.29 |
|
Euro |
1 |
Rs.68.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.