|
Report Date : |
25.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
D.M.M. PRINTING INKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 40/3, JC Industrial Layout, Yelachenahalli, Kanakapura Road,
Bangalore-560062, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.05.1979 |
|
|
|
|
Com. Reg. No.: |
08-003529 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.750 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22211KA1979PTC003529 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturing and Exporting of Off Set, and Flexo, Gravure Printing
Inks. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a safe and
secured 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
No. 40/3, JC Industrial Layout, Yelachenahalli, Kanakapura Road, Bangalore-560062,
Karnataka, India |
|
Tel. No.: |
91-80-26860061/26860087 |
|
Fax No.: |
91-80-26595135 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mukesh Jayadev |
|
Designation : |
Director |
|
Address : |
No. 2 and 3, UKR Layout, Behind J.C. Industrial Estate,
Yelachenahalli, Bangalore-560062, Karnataka, India |
|
Date of Birth/Age : |
24.05.1974 |
|
Date of Appointment : |
20.04.1993 |
|
Din No.: |
01023324 |
|
|
|
|
Name : |
Mrs. Geetha Jayadev |
|
Designation : |
Director |
|
Address : |
No. 2 and 3, UKR Layout, Behind J.C. Industrial Estate,
Yelachenahalli, Bangalore-560062, Karnataka, India |
|
Date of Birth/Age : |
18.03.1953 |
|
Date of Appointment : |
07.11.1989 |
|
Din No.: |
01023208 |
|
|
|
|
Name : |
Bhavanishankar Mariyappa Dommasandra |
|
Designation : |
Director |
|
Address : |
No. 1523, 11th Cross, 7th Main, 2nd Stage,
I Phase, BTM Layout, Bangalore-560076, Karnataka, India |
|
Date of Birth/Age : |
22.04.1965 |
|
Date of Appointment : |
21.02.1991 |
|
Din No.: |
01023387 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Jayadev |
|
110 |
|
Geetha Jayadev |
|
204 |
|
D M Jayadev |
|
147 |
|
Jayadev Enterprises Jointly With Gowrishankar, Prakash D M, Radhakrishnadas
Kalro, Bharathi Jayadev, Hymavathi Jagadish and Talreja L G |
|
10 |
|
Bhavanishankar Mariyappa Dommasandra |
|
5 |
|
Puttanna M S |
|
1 |
|
Manjula M C |
|
1 |
|
Yashodamma M C |
|
1 |
|
Neelakant R Telreja |
|
1 |
|
Amit K Chabria |
|
1 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporting of Off Set, and Flexo, Gravure Printing
Inks. |
PRODUCTION STATUS AS ON
|
Particulars |
Unit |
Actual
Production |
|
Inks |
Kgs. |
27245.700 |
|
Thinner |
Ltrs. |
27875.000 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
J K Lakshmi Narayana and Company Chartered Accountants |
|
Address : |
No. 19, Ranoji Rao Road, Basavanagudi, Bangalore-560004, Karnataka,
India |
|
Tel. No.: |
91-80-65974805 |
|
Mobile No.: |
91-9880592172 |
|
E-Mail : |
|
|
Pan No.: |
AFNPJ5577K |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750 |
Equity Shares |
Rs.1000/- each |
Rs.0.750 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750 |
Equity Shares |
Rs.1000/- each |
Rs.0.750 Million |
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 |
0.750 |
0.750 |
0.750 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(6.355) |
(6.645) |
(6.793) |
|
|
NETWORTH |
(5.605) |
(5.895) |
(6.043) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
11.755 |
10.259 |
10.451 |
|
|
TOTAL BORROWING |
11.755 |
10.259 |
10.451 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.150 |
4.364 |
4.408 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.418 |
0.586 |
0.660 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.490
|
5.493 |
5.555 |
|
|
Sundry Debtors |
1.606
|
1.085 |
0.925 |
|
|
Cash & Bank Balances |
0.028
|
0.005 |
0.049 |
|
|
Other Current Assets |
0.623
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.504
|
1.037 |
0.986 |
|
Total
Current Assets |
8.251
|
7.620 |
7.515 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.973
|
3.370 |
3.392 |
|
|
Other Current Liabilities |
0.121
|
0.271 |
0.209 |
|
|
Provisions |
0.426
|
0.202 |
0.167 |
|
Total
Current Liabilities |
2.520
|
3.843 |
3.768 |
|
|
Net Current Assets |
5.731
|
3.777 |
3.747 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.150 |
4.364 |
4.408 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
INCOME FROM
OPERATION |
7.500 |
8.083 |
5.383 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.350 |
0.221 |
0.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.060 |
0.074 |
0.074 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
0.290 |
0.147 |
0.026 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.001 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
0.290 |
0.147 |
0.025 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(6.645) |
(6.792) |
(6.817) |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(6.355) |
(6.645) |
(6.792) |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
386.67 |
196.00 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
3.87
|
1.82 |
0.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.35
|
1.79 |
0.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05)
|
(0.02) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(2.55)
|
(2.39) |
(2.35) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.27
|
1.98 |
1.99 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
No |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
RESULTS OF
OPERATION:
Revenue income from operation for the year ended 31.03.2011 amounted to
Rs.7.500 millions as against Rs.8.083 millions for the year ended 31.03.2010.
The profit before taxes for the year ended 31.03.2011 amounted to Rs.0.290
million as against profit of Rs.0.147 million for the year ended 31.03.2010.
MARKETING AND
BUSINESS DEVELOPMENT:
Even though the company sales has decreased this year. The net profit
has increased this year. They are confident that they will grow in the same
speed and earn good profits in the coming years and write off the losses
incurred in the previous year.
FIXED ASSETS:
·
Plant and Machinery
·
Electrical Installation
·
Cycle
·
Lab Equipments
·
Fire Fighting Equipments
·
Steel Water Tank
·
Water Cooling Tower
·
Generator
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.52.79 |
|
|
1 |
Rs.85.17 |
|
Euro |
1 |
Rs.69.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
16 |
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.