MIRA INFORM REPORT

 

 

Report Date :           

24.04.2012

 

IDENTIFICATION DETAILS

 

Name :

INTERMART PRINTERS (PVT) LTD

 

 

Registered Office :

#20,Hyde Park Corners, Colombo -2

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

19.07.1999

 

 

Com. Reg. No.:

PV 12389

 

 

Legal Form :

Private Limited Liability Company  

 

 

Line of Business :

Printing and packaging

 

 

No. of Employees :

200

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

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 – March 31st, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

Sri Lanka

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GENERAL- Basic information at a glance

     

a.

Name of Subject of Inquiry

:

 

INTERMART PRINTERS (PVT) LTD

 

 b.

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

c.

Managing Director

:

W. A. Athula Silva

d.

Primary Line of Business

:

Printing and packaging

e.

Head Office

&

Place of Business

 

:

 

# 20,

Hyde Park Corners,

Colombo -2

Sri Lanka.

 

Tel. No: (00 94 11) 233 2188

               (00 94 11) 244 6415

 

Fax No: (00 94 11) 230 4596

 

E mail : info@intermart.lk

Web: www.intermart.lk

Location : Owned

Factory

:

 

No.112,

Pattiwila Road,

Kelaniya,

Sri Lanka.

 

Tel. No: (00 94 11)  488 7234 /35 /36

               (00 94 11)  433 3000

 

Fax No: (00 94 11)  474 1684

 

f.

No. of Employees

:

200

 

COMPANY DETAILS-Registration and Shareholder Details

 

Registration No

:

N (PVS) 24105

 

Date of Registration

 

19th July 1999

Re-registration No

:

PV 12389

 

Date of Re-registration

 

19th  March 2009

 

Registered Office

:

# 20, Hyde Park Corner, Colombo – 2, Sri Lanka.

 

Board Of Directors

As At

14th  January  2011

:

W. A. Athula Silva

Managing Director

 

S. A. Gunawardena

Director

 

C. P. Gunawardena

Director

 

A. Giritharan

Director

 

N. R. Kalupahana

Director

 

Issued Share Capital

:

Rs.         28,000,000.00

 

Nominal Value of Share

:

Rs.                       10.00

 

Major Share Holders

As At

14th January 2011

:

 Share Holders

No of Shears

 

W. A. Athula Silva

500,000

 

S. A. Gunawardena

500,000

 

C. P. Gunawardena

500,000

 

A. Giritharan

500,000

 

N. R. Kalupahana

100,000

 

A. Sukumaran

200,000

 

Intermart Consolidate (Pvt) Ltd

500,000

 

Secretaries

:

C. P. Gunawardena

 

Auditors

:

Jayasinghe & Company

 

Bankers

:

Hatton National Bank

Kalariya Branch

 

Trading Terms:

:

Purchasing Terms  : L/C Cash

Selling Terms      : L/C Cash

 

Types of Customers

:

Wholesalers

 

 

 

Information Parted By:

 

Name               : Mr. Prasad

Designation     : Finance Manager

Mobile No.       : 0094776418063

Date                 : 23.04.2012

 

 

FINANCIAL DETAILS - Most recent available Financial Information

 

Income Statement as at 31st March

 

 

Year ended

31st March 2010

Rs’000

Year ended

31st March 2009

Rs’000

A

Revenue

:

643,214,874.33

591,159,158.76

B

 Cost of Sales

:

(460,548,795.04)

(441,266,262.16)

C

Gross Profit

:

182,666,079.29

149,892,896.60

D

Other Income

 

2,518,280.27

3,194,057.33

E

Profit Before Operating Expenses

 

185,184,359.56

153,086,953.93

E

Administration Expenses

:

(25,103,914.77)

(22,232,628.12)

F

Distribution Expenses

:

(7,226,762.48)

(5,577,273.86)

G

Other Operating Expenses

 

(6,574,463.42)

(2,814,263.06)

H

Profit Operation

:

146,279,218.89

122,462,788.89

I

Financing Expenses

:

(17,837,017.75)

(28,026,853..29)

J

Net Profit / (Loss) before Tax

:

128,442,201.14

94,435,935.60

K

Income Tax (expenses)/  

Release                                                                                                                    

:

(204,217.57)

(26,882,584.85)

L

Net Profit / (Loss) After Tax:

:

128,237,983.57

67,553,350.76

 

Balance Sheet as at 31st march                                                             

 

Year ended

31st March 2010

Rs’000

Year ended

31st March 2009

Rs’000

a)

Non-current Assets

:

15,000,000.00

15,000,000.00

b)

Current Assets

:

18,737,973.57

19,147,795

c)

Current Liability

:

4,559,660.96

1,236,150

d)

Non-current liability

:

2,577,240.00

1,956,798

e)

Total Liabilities

:

7,136,900.00

3,192,948

f)

Total Assets

:

404,311,700.19

293,956,030

g)

 

Net Worth

 

:

397,174,800

290,763,082

                                                               

Financial Data

                                                                                                                                                                                                                                                                        (Amt. In LKR Millions)

Particulars

 

 

31.03.2012

Sales Turnover

 

500.000

                                                                                           

Expected Sales (2012-13):- 5500.000 LKR Millions

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

The Subject Company INTERMART PRINTERS (PVT) LTD is a Private Limited   liability Company incorporated on 19th July 1999 under registration number N (PVS) 24105 and then the company was re-registered on 19th March 2009 under registration number PV 12389.

 

The subject company initially registered as MILLENIUM PRINTERS (PVT) LTD then name of the company was changed to INTERMART PRINTERS (PVT) LTD on 01st April 2003.

 

·         Location.

 

The Subject Company is located at the client given address is head Office address # 20, Hyde Park Corner, Colombo – 2, Sri Lanka. Factory address is 112, Pattiwela Road, Kelaniya.

 

·         Operations Details.

 

General

The subject company primary line of business is printing and packaging

 

Products

Printing of cartons, books, leaflets, calendars, posters, Brochures, Company annual reports, Magazines and catalogues

 

      

 

 

Country

India, China

 

Employees

                  200

 

·         Directors Details

01)

Name

W. A. Athula Silva

ID Number

451441850 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

23rd May 1945

Age

67 Years

 

 

02)

Name

S. A. Gunawardena

ID Number

481663539 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

14th June 1948

Age

64 Years

 

03)

Name

C. P. Gunawardena

ID Number

566081089 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

17th April 1956

Age

56 Years

 

04)

Name

A. Giritharan

ID Number

660081089 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

08th January 1966

Age

46 Years

 

05)

Name

N. R. Kalupahana

ID Number

430710435 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

11th March 1943

Age

69 Years

 

·         Financial Data

The subject company refused to provide its financial information.

                   Financial details of Private Limited/Proprietorship/Partnership companies are not

                    Made available for the public to view

 

·         Trade references

Akbar Brothers Limited

 

·         Credit Recommendations

                    Since no financial information has been forthcoming from the company, it is not possible to comment on the merits or otherwise of the company.

 

No computerised data bases exist to make checks whether the partners or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.23

UK Pound

1

Rs.84.16

Euro

1

Rs.68.84

 

 

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 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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.