MIRA
INFORM REPORT
|
Report Date : |
23.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAX FLEX AND IMAGING SYSTEMS LIMITED (w.e.f. 06.06.2008) |
|
|
|
|
Formerly Known
As : |
SILVER DIGIGRAPH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
102 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
25.10.2002 |
|
|
|
|
Com. Reg. No.: |
11-137690 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs 80.998 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92112MH2002PLC137690 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS40093E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS5086Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Importer and Exporter of Digital and Offset Printing
Consumables. |
|
|
|
|
No. of Employees
: |
291 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. The
company is doing well. Trade relations are reported as fair. Business is
active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Rahul Desai |
|
Designation : |
Accountant |
|
Contact No.: |
91-9920228377 |
|
Date : |
22.11.2011 |
LOCATIONS
|
Registered Office/Head Office : |
102 |
|
Tel. No.: |
91-22-24380160 / 42122828 |
|
Mobile No.: |
91-9920228377 (Mr. Rahul Desai) |
|
Fax No.: |
91-22-24380152 / 24370707 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
A – 11 MIDC, Badlapur Industrial Area, Badlapur (East), Thane – 421
503, |
|
|
|
|
Branch Office : |
Located at ·
Khokhra Ahmedabad ·
Usmanpura, Ahmedabad ·
Domalguda, Andhra Pradesh ·
·
·
·
·
Bengaluru, Karnataka ·
·
Jalgaon, ·
Fort, Mumbai, ·
Jogeshwari, Mumbai, ·
·
·
Pune, ·
Bhiwandi, Thane, ·
Mohali, ·
Chennai, Tamilnadu ·
Kolkata, |
DIRECTORS
As on 27.08.2011
|
Name : |
Mr. Anup Banerji |
|
Designation : |
Chairman |
|
Address : |
C-9, Kinellan Tower, 100-A, Nepean Sea Road, Malabar Hill, Mumbai –
400 006, Maharashtra, India |
|
Date of Birth/Age : |
26.04.1950 |
|
Date of Appointment : |
24.11.2010 |
|
DIN No.: |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U51909MH2002PLC135594 |
Multi Commodity Exchange
of India Limited |
Nominee director |
22-09-07 |
22-09-07 |
22-04-10 |
Active |
NO |
|
2 |
U65999DL1998PTC093849 |
SBI Cards And
Payment Services Private Limited |
Director |
24-09-09 |
08-04-09 |
23-04-10 |
Active |
NO |
|
3 |
U74140DL1998PTC094577 |
GE Capital
Business Process Management Services Private Limited |
Director |
24-09-09 |
08-04-09 |
23-04-10 |
Active |
NO |
|
4 |
U99999MH2000GOI129113 |
SBI Life
Insurance Company Limited |
Nominee director |
27-04-09 |
27-04-09 |
30-04-10 |
Active |
NO |
|
5 |
U74990MH2008NPL189067 |
National
Payments Corporation of |
Director |
26-11-09 |
07-05-09 |
30-04-10 |
Active |
NO |
|
6 |
U92112MH2002PLC137690 |
Max Flex and
Imaging Systems Limited |
Director |
27-08-11 |
24-11-10 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Hitesh Rajnikant Jobalia |
|
Designation : |
Managing Director |
|
Address : |
Flat No. A/101, Simla House, |
|
Date of Birth/Age : |
12.12.1965 |
|
Date of Appointment : |
25.10.2002 |
|
DIN No.: |
01545443 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U92110MH1992PLC066742 |
Max Film
Convertors ( |
Director |
13-05-92 |
13-05-92 |
- |
Amalgamated |
NO |
|
2 |
U92112MH2002PLC137690 |
Max Flex and
Imaging Systems Limited |
Managing
director |
24-11-10 |
25-10-02 |
- |
Active |
NO |
|
3 |
U74300MH2004PTC144504 |
Sterling Media
Private Limited |
Director |
12-02-04 |
12-02-04 |
- |
Amalgamated |
NO |
|
4 |
U74940MH2005PTC154788 |
Max Convertors
Private Limited |
Director |
14-07-05 |
14-07-05 |
- |
Amalgamated |
NO |
|
5 |
U65990MH1994PTC081912 |
First Stock and
Bond Trading Company Private Limited |
Director |
21-11-05 |
21-11-05 |
01-03-07 |
Dormant |
NO |
|
6 |
U99999MH1990PTC055272 |
Amprochem
Private Limited |
Director |
01-04-10 |
12-12-07 |
- |
Active |
NO |
|
7 |
U74120MH2010PLC207491 |
Max Apollo Flex
Digital Limited |
Director |
07-09-10 |
07-09-10 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Nimesh Navin Shah |
|
Designation : |
Whole Time Director |
|
Address : |
105/1, Simla House, 51/B, |
|
Date of Birth/Age : |
02.04.1964 |
|
Date of Appointment : |
25.10.2002 |
|
DIN No.: |
00153366 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U92110MH1992PLC066742 |
Max Film
Convertors ( |
Director |
14-08-00 |
14-08-00 |
- |
Amalgamated |
NO |
|
2 |
U92112MH2002PLC137690 |
Max Flex and
Imaging Systems Limited |
Whole-time
director |
01-10-10 |
25-10-02 |
- |
Active |
NO |
|
3 |
U74300MH2004PTC144504 |
Sterling Media
Private Limited |
Director |
12-02-04 |
12-02-04 |
- |
Amalgamated |
NO |
|
4 |
U65990MH1994PTC081912 |
First Stock And
Bond Trading Company Private Limited |
Director |
21-11-05 |
21-11-05 |
01-03-07 |
Dormant |
NO |
|
5 |
U74940MH2005PTC154788 |
Max Convertors
Private Limited |
Director |
01-06-06 |
01-06-06 |
- |
Amalgamated |
NO |
|
6 |
U99999MH1990PTC055272 |
Amprochem
Private Limited |
Director |
01-04-10 |
12-12-07 |
- |
Active |
NO |
|
7 |
U74120MH2010PLC207491 |
Max Apollo Flex
Digital Limited |
Director |
07-09-10 |
07-09-10 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Mitil Chokshi Rajnikant |
|
Designation : |
Independent Director |
|
Address : |
21, Sagar Darshan, |
|
Date of Birth/Age : |
27.09.1970 |
|
Date of Appointment : |
20.09.2010 |
|
DIN No.: |
01209404 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U31300MH1982PLC028700 |
Ravin Cables
Limited |
Director |
10-04-07 |
10-04-07 |
19-01-10 |
Active |
NO |
|
2 |
U74300MH2007PTC170696 |
Steve Cragg
Advertising Private Limited |
Director |
09-05-07 |
09-05-07 |
- |
Active |
NO |
|
3 |
U74140MH2007PTC174579 |
Citco India
Services Private Limited |
Director |
28-09-07 |
28-09-07 |
- |
Active |
NO |
|
4 |
L26100MH1998PLC117437 |
Sezal Glass
Limited |
Director |
27-09-08 |
31-10-07 |
30-09-10 |
Active |
NO |
|
5 |
U74900MH2009FTC191326 |
Victaulic Piping
Products India Private Limited |
Director |
30-03-09 |
30-03-09 |
01-04-09 |
Active |
NO |
|
6 |
U34300MH1947GAP005941 |
Malabar Hill
Club Limited |
Director |
10-09-09 |
10-09-09 |
- |
Active |
NO |
|
7 |
U92112MH2002PLC137690 |
Max Flex and Imaging
Systems Limited |
Director |
20-09-10 |
20-09-10 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Ramakant Madhav Nayak |
|
Designation : |
Independent Director |
|
Address : |
A/11, Anand Dham, 9th Prabhat Colony, Near Hotel Yatri, Santacruz
(East), Mumbai – 400 055, |
|
Date of Birth/Age : |
30.06.1945 |
|
Date of Appointment : |
20.09.2010 |
|
DIN No.: |
00129854 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
L65110TN1926PLC001377 |
Lakshmi Vilas
Bank Limited |
Whole-time
director |
20-06-05 |
20-06-05 |
20-06-07 |
Active |
NO |
|
2 |
U67190MH2006PTC159258 |
Sun Capital
Advisory Services Private Limited |
Director |
30-09-08 |
14-03-08 |
- |
Active |
NO |
|
3 |
U65993MH2007PTC175592 |
Nine Rivers
Capital Holdings Private Limited |
Additional
director |
19-03-08 |
19-03-08 |
23-05-11 |
Active |
NO |
|
4 |
L24110AP1993PLC016112 |
Avon Organics
Limited |
Director |
25-09-10 |
31-10-09 |
22-01-11 |
Active |
NO |
|
5 |
L32100MH1981PLC025346 |
Sunteck Realty
Limited |
Director |
27-09-10 |
30-01-10 |
- |
Active |
NO |
|
6 |
L29193MH1995PLC092323 |
Nitin Fire
Protection Industries Limited |
Director |
21-09-10 |
12-04-10 |
- |
Active |
NO |
|
7 |
U67190MH1997PLC112262 |
Blend Financial
Services Limited |
Director |
08-09-10 |
26-05-10 |
19-08-11 |
Active |
NO |
|
8 |
U92112MH2002PLC137690 |
Max Flex and
Imaging Systems Limited |
Director |
20-09-10 |
20-09-10 |
- |
Active |
NO |
|
9 |
L74899MH1994PLC216417 |
TRC Financial
Services Limited |
Director |
30-09-11 |
29-11-10 |
- |
Active |
NO |
|
10 |
U24100MH1993PLC071376 |
Shree Pushkar
Petro Products Limited |
Additional
director |
04-12-10 |
04-12-10 |
- |
Active |
NO |
|
11 |
U24231MH1993PLC150891 |
Arch Pharmalabs
Limited |
Additional
director |
24-01-11 |
24-01-11 |
- |
Active |
NO |
|
12 |
L72200MH1995PLC176087 |
Intellvisions
Software Limited |
Director |
27-09-11 |
25-08-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Rahul Desai |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.08.2011
|
Names of Shareholders |
No. of Shares |
|
Hitesh Jobalia |
8099878 |
|
Nimesh Shah |
715920 |
|
Dipti Jobalia |
1261836 |
|
Kirti Doshi |
539026 |
|
Pine Derivatives Marketing Private Limited, |
853590 |
|
Quest Profin Advisor Private Limited, |
141642 |
|
Rajesh Dadia |
75000 |
|
Bhavesh Domadia |
30000 |
|
Pankaj Jobalia |
75000 |
|
Devang Bhansali |
60000 |
|
Neepa Bhansali |
60000 |
|
Murali Attili |
30000 |
|
|
30000 |
|
Jaishankar Stanumurthy |
30000 |
|
Elesh Anubhai Gopani jointly with Ashish Anubhai Gopani |
105000 |
|
Paresh Chandulal Zaveri |
150000 |
|
Sonal Kalpesh Koradia (Jointly with Vasumati Rajkumar Koradia) |
50000 |
|
Abhinav Daga |
27000 |
|
Ajay Sarupria (jointly with Jasmine Sarupria) |
75000 |
As on 27.08.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
9.00 |
|
Directors or relatives of directors |
|
87.00 |
|
Others |
|
4.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Importer and Exporter of Digital and Offset Printing
Consumables. |
|
|
|
|
Product Description : |
Media Films, Inject and Solvent Media
|
|
|
|
|
Exports : |
|
|
Products : |
Digital and Offset Printing Consumables |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Digital and Offset Printing Consumables |
|
Countries : |
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 days / 60 days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30 days / 60 days) |
GENERAL INFORMATION
|
Customers : |
·
Retailers ·
End Users ·
OEM’s |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
291 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
ICICI Bank Limited ·
State Bank of India, MIDC Loan Admin Unit, Shri
HAri Building, RTO Lane, Four Bungalows, Andheri (West), Mumbai – 400 053,
Maharashtra, India ·
State Bank of India, Backbay Reclamation Branch,
Raheja Chamber, Nariman Point, Mumbai – 400 021, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D Kothary and Company Chartered Accountants |
|
Address : |
149, Behram Mahal, 2nd Floor, 534, Dhobi Talao, Mumbai –
400 002, |
|
Tel No.: |
91-22-22093344 / 22036688 |
|
Fax No.: |
91-22-22017174 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Enterprises controlled by Key Management personnel and Individual
having significant Influence: |
·
Amprochem Private Limited ·
Amritlal and Company |
CAPITAL STRUCTURE
After 27.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/ each |
Rs.200.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18063901 |
Equity Shares |
Rs.10/ each |
Rs.180.639 millions |
As on 27.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/ each |
Rs.200.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12526751 |
Equity Shares |
Rs.10/ each |
Rs.125.268 millions |
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 |
|
8099834 |
Equity Shares |
Rs.10/ each |
Rs.80.998 millions |
Of the above 4715201 shares are issued for the
consideration other than cash in the scheme of Amalgamation and Merger
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 |
80.998 |
79.725 |
79.201 |
|
|
2] Share Application Money |
0.000 |
3.500 |
2.000 |
|
|
3] Reserves & Surplus |
333.336 |
134.493 |
48.340 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
414.334 |
217.718 |
129.541 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1110.455 |
824.811 |
479.694 |
|
|
2] Unsecured Loans |
30.929 |
75.053 |
9.949 |
|
|
TOTAL BORROWING |
1141.384 |
899.864 |
489.643 |
|
|
DEFERRED TAX LIABILITIES |
10.128 |
2.526 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1565.846 |
1120.108 |
619.184 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
291.458 |
238.784 |
93.129 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.650 |
1.951 |
0.600 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
1.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
513.389
|
347.474 |
196.704 |
|
|
Sundry Debtors |
1023.991
|
605.320 |
449.592 |
|
|
Cash & Bank Balances |
27.611
|
16.404 |
8.931 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
286.502
|
131.811 |
55.568 |
|
Total
Current Assets |
1851.493
|
1101.009 |
710.795 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
414.066
|
146.124 |
163.758 |
|
|
Other Current Liabilities |
31.058
|
1.682 |
0.135 |
|
|
Provisions |
139.631
|
74.726 |
23.567 |
|
Total
Current Liabilities |
584.755
|
222.532 |
187.460 |
|
|
Net Current Assets |
1266.738
|
878.477 |
523.335 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.896 |
1.120 |
|
|
|
|
|
|
|
|
TOTAL |
1565.846 |
1120.108 |
619.184 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
3107.825 |
2201.723 |
1030.831 |
|
|
|
Other Income |
7.913 |
2.302 |
0.353 |
|
|
|
TOTAL (A) |
3115.738 |
2204.025 |
1031.184 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
2557.332 |
1847.119 |
873.643 |
|
|
|
Administrative Expenses |
62.698 |
48.288 |
28.758 |
|
|
|
Staff Cost |
69.643 |
45.066 |
31.869 |
|
|
|
Selling and Distribution Expenses |
21.673 |
12.137 |
13.918 |
|
|
|
TOTAL (B) |
2711.346 |
1952.610 |
948.188 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
404.392 |
251.415 |
82.996 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
CHARGES (D) |
113.405 |
110.529 |
39.985 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
290.987 |
140.886 |
43.011 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.148 |
9.495 |
2.187 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
273.839 |
131.391 |
40.824 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
96.102 |
45.377 |
14.842 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
177.737 |
86.014 |
25.982 |
|
|
|
|
|
|
|
|
|
Add |
EXCESS /
(SHORTAGE) PROVISION FOR TAXES |
(0.902) |
0.139 |
(0.010) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
123.118 |
36.965 |
10.993 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
EXPENDITURE |
2.186 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
297.767 |
123.118 |
36.965 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.94 |
10.79 |
3.28 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
4200.000 |
Expected Sales (2011-2012) : Rs.5500.000 millions
The above information has been parted by Mr. Rahul Desai
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.70
|
3.90 |
2.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.81
|
5.97 |
3.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.78
|
9.81 |
5.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66
|
0.60 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.17
|
5.16 |
5.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.17
|
4.95 |
3.79 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
|
Particulars |
31.03.2010
Rs.
In Millions |
31.03.2009
Rs.
In Millions |
31.03.2008
Rs.
In Millions |
|
Creditors for Expenses |
43.976
|
46.984 |
31.610 |
|
Creditors for Goods |
370.090
|
99.140 |
132.148 |
|
Total |
414.066
|
146.124 |
163.758 |
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
YES |
|
3. |
Constitutions of the firm |
YES |
|
4. |
Premises details |
YES |
|
5. |
Type of Business |
YES |
|
6. |
Line of Business |
YES |
|
7. |
Promoter’s background |
-- |
|
8. |
No. of employees |
YES |
|
9. |
Name of person contacted |
YES |
|
10. |
Designation of contact person |
YES |
|
11. |
Turnover of firm for last three years |
YES |
|
12. |
Profitability for last three years |
NO |
|
13. |
Reasons for variations <> 20% |
-- |
|
14. |
Estimation for coming financial year |
YES |
|
15. |
Capital in the business |
NO |
|
16. |
Details of sister concerns |
-- |
|
17. |
Major Suppliers |
NO |
|
18. |
Major Customers |
NO |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
YES |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
23. |
Banking Details |
YES |
|
24. |
Banking facility details |
-- |
|
25. |
Conduct of the banking account |
-- |
|
26. |
Buyer visit details |
-- |
|
27. |
Financials, if provided |
NO |
|
28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
CHANGE IN SHARE
CAPITAL
During the year, the Authorised Capital of the Company was increased from Rs.100.000 millions to Rs.150.000 millions on 1st December, 2009 and the company has allotted 127334 shares of Rs.10 each and the paid up capital of the company at the end of year stood at Rs.80.998 millions.
CONTINGENT LIABILITY
|
Particulars |
As on 31.03.2010 Rs. in millions |
|
Commissioner Appellate Proceedings in
respect of A.Y. 2006-07 |
2.330 |
|
Tribunal Appellate Proceedings in respect of
A.Y. 2003-04 |
1.371 |
FORM 8
|
Corporate identity number of the company |
U92112MH2002PLC137690 |
|
Name of the company |
MAX FLEX AND IMAGING SYSTEMS
LIMITED |
|
Address of the registered office or of the principal place of business in |
102 |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others o
Stock of RM, WIP, FG etc |
|
Particular of charge holder |
ICICI Bank Limited CIN No. : L65190GJ1994PLC021012 E-Mail : shanthi.venkatesan@icicibank.com
|
|
Nature of instrument creating charge |
Deed of Hypothecation dated 17
October 2011 for Stocks and Book Debts both present and future |
|
Date of instrument Creating the charge |
17.10.2011 |
|
Amount secured by the charge |
Rs.500.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest As per Credit Arrangement letter no. CBG/2011-12/CMOG No.
12/CBGMUM/36864 dated September 28, 2011
and all amendments thereto or as stipulated by Bank from time to time Terms of repayment As per Credit Arrangement letter no. CBG/2011-12/CMOG No. 12/CBGMUM/36864
dated September 28, 2011 and all
amendments thereto or as stipulated by Bank from time to time Margin As per Credit Arrangement letter no. CBG/2011-12/CMOG No.
12/CBGMUM/36864 dated September 28, 2011
and all amendments thereto or as stipulated by Bank from time to time Extent and operation of the charge Bank granted Credit facility in the form of Working Capital limits
aggregating to Rs.500.000 millions against hypothecation on pari passu first
charge basis of all present and future stocks of RM, SIP, FG, other Current
assets etc. situate or lying or stored in Company's factory or premises or
elsewhere or in transit and o/s monies, receivables, claims, bills etc., due
and owing to Company in course of its business. |
|
Short particulars of the property charged (Including location of the
property) |
·
Hypothecation on First pari passu charge on
Stocks both present and future ·
Hypothecation on First Pari passu charge on book
debts both present and future |
FIXED ASSETS
·
Air Condition
·
Computer
·
Furniture and Fixture
·
Goodwill
·
Brand – ‘MAX’
·
Land and Building
·
Motor Car
·
Office Equipments
·
Office Premises / Gala
·
Plant and Machinery
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.52.70 |
|
|
1 |
Rs.82.44 |
|
Euro |
1 |
Rs.71.07 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.