MIRA
INFORM REPORT
|
Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHAH PAPER MILLS LIMITED |
|
|
|
|
Registered
Office : |
Angiline Apartment, B/202, 2nd Floor, Vile Parle (West),
Mumbai – 400 056, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
27.07.1990 |
|
|
|
|
Com. Reg. No.: |
057464 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.162.500 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21010MH1990PLC057464 |
|
|
|
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMS01365A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS6438F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Craft Paper. |
|
|
|
|
No. of Employees
: |
300 (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 3700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track records. 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 (GENERAL DETAILS)
|
Name : |
Mrs. Heena |
|
Designation : |
Accountant |
|
Contact No.: |
91-260-2432388 |
|
Date : |
02.02.2012 |
LOCATIONS
|
Registered Office : |
Angiline Apartment, B/202, 2nd Floor, Vile Parle (West),
Mumbai – 400 056, |
|
Tel. No.: |
91-22-26161932 |
|
Fax No.: |
91-22-26173673 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 5202, Phase – 3, G.I.D.C., Vapi – 396 195, |
|
Tel. No.: |
91-260-2432388 |
|
Fax No.: |
91-260-2400995 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mahendra Hirji Shah |
|
Designation : |
Managing Director |
|
Address : |
202, Ashwamedh, |
|
Date of Birth/Age : |
16.05.1959 |
|
Date of Appointment : |
27.07.1990 |
|
DIN No.: |
00190008 |
|
Election Commission Identity Card No.:
|
GJ/26/182/096311 |
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 |
U21010MH1990PLC057464 |
Shah Paper Mills
Limited |
Managing
director |
01-01-10 |
27-07-90 |
- |
Active |
NO |
|
2 |
U21010MH1993PLC074945 |
Shah Pulp and
Paper Mills Limited |
Managing
director |
01-01-10 |
05-11-93 |
- |
Active |
NO |
|
3 |
U67120MH1996PLC101623 |
Shah Financial
Services Limited |
Director |
05-08-96 |
05-08-96 |
- |
Active |
NO |
|
4 |
U45200MH1996PTC095845 |
Natvar
Properties Private Limited |
Director |
30-09-96 |
30-09-96 |
- |
Active |
NO |
|
5 |
U21020MH2004PTC145176 |
Shah Containers
Private Limited |
Director |
15-06-04 |
15-06-04 |
- |
Active |
NO |
|
6 |
U45202MH2008PTC183338 |
Your Home
Developers Private Limited |
Director |
12-06-08 |
10-06-08 |
- |
Active |
NO |
|
7 |
U17299MH2006PTC163638 |
Venkateshvara Texfab
Private Limited |
Director |
25-09-10 |
25-09-10 |
10-10-10 |
Active |
NO |
|
8 |
U51109MH2008PTC188417 |
Avion Paper
Impex Private Limited |
Director |
02-09-11 |
02-09-11 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Amritlal Khimji Shah |
|
Designation : |
Director |
|
Address : |
Haria, 207, Housing Sector GIDC, Vapi, Valsad – 396 195, |
|
Date of Birth/Age : |
22.11.1944 |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00140411 |
|
Election Commission Identity Card No.:
|
GJ/26/182/030286 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U21010MH1990PLC057464 |
Shah Paper Mills
Limited |
Director |
30-09-06 |
08-08-90 |
Active |
NO |
|
2 |
U21010MH1993PLC074945 |
Shah Pulp and
Paper Mills Limited |
Director |
01-09-06 |
05-11-93 |
Active |
NO |
|
3 |
U67120MH1996PLC101623 |
Shah Financial Services
Limited |
Director |
05-08-96 |
05-08-96 |
Active |
NO |
|
4 |
U45200MH1996PTC095845 |
Natvar
Properties Private Limited |
Director |
30-09-96 |
30-09-96 |
Active |
NO |
|
5 |
U74210GJ1997GAP031525 |
Vapi Waste And Effluent
Management Company Limited |
Director |
17-01-97 |
17-01-97 |
Active |
NO |
|
6 |
U21020MH2004PTC145176 |
Shah Containers
Private Limited |
Director |
15-06-04 |
15-06-04 |
Active |
NO |
|
|
|
|
Name : |
Mr. Ashok Zaverchand Shah |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No. 313, Residential Area, Opposite Vikas Textorium, GIDC, Vapi,
Valsad – 396 195, |
|
Date of Birth/Age : |
25.09.1963 |
|
Date of Appointment : |
13.02.1991 |
|
DIN No.: |
00146132 |
|
Election Commission Identity Card No.:
|
GJ/26/182/024599 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U21010MH1990PLC057464 |
Shah Paper Mills
Limited |
Whole-time
director |
01-01-10 |
13-02-91 |
Active |
NO |
|
2 |
U67120MH1996PLC101623 |
Shah Financial
Services Limited |
Managing
director |
30-08-08 |
05-08-96 |
Active |
NO |
|
3 |
U21010MH1993PLC074945 |
Shah Pulp and
Paper Mills Limited |
Director |
17-09-04 |
17-09-04 |
Active |
NO |
|
|
|
|
Name : |
Mr. Hirji Tejshi Shah |
|
Designation : |
Director |
|
Address : |
Plot No. 279, Residential Area, |
|
Date of Birth/Age : |
23.08.1938 |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00140063 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U21010MH1990PLC057464 |
Shah Paper Mills
Limited |
Director |
30-09-06 |
16-09-99 |
Active |
NO |
|
2 |
U21010MH1993PLC074945 |
Shah Pulp and
Paper Mills Limited |
Director |
30-09-06 |
30-09-06 |
Active |
NO |
|
|
|
|
Name : |
Mr. Shailendra Raichad Shah |
|
Designation : |
Director |
|
Address : |
14, Swaminarayan Darshan, |
|
Date of Birth/Age : |
06.07.1957 |
|
Date of Appointment : |
30.08.2007 |
|
DIN No.: |
00145201 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U67120MH1996PLC101623 |
Shah Financial
Services Limited |
Director |
01-04-07 |
01-04-07 |
Active |
NO |
|
2 |
U21010MH1990PLC057464 |
Shah Paper Mills
Limited |
Director |
30-08-07 |
01-04-07 |
Active |
NO |
|
3 |
U21020MH2009PTC191388 |
Pushpam
Containers Private Limited |
Director |
01-04-09 |
01-04-09 |
Active |
NO |
|
|
|
|
Name : |
Mr. Mahesh Khetsi Maru |
|
Designation : |
Director |
|
Address : |
A/204, Suyog Mandir Co-Operative, |
|
Date of Birth/Age : |
24.06.1966 |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00145681 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U67120MH1996PLC101623 |
Shah Financial
Services Limited |
Director |
05-08-96 |
05-08-96 |
Active |
NO |
|
2 |
U21010MH1993PLC074945 |
Shah Pulp and
Paper Mills Limited |
Whole-time
director |
30-09-10 |
12-06-99 |
Active |
NO |
|
3 |
U21010MH1990PLC057464 |
Shah Paper Mills
Limited |
Director |
30-09-06 |
16-08-99 |
Active |
NO |
|
4 |
U51109MH2008PTC188417 |
Avion Paper
Impex Private Limited |
Director |
02-09-11 |
08-10-10 |
Active |
NO |
|
5 |
U45202MH2008PTC183338 |
Your Home
Developers Private Limited |
Director |
19-09-11 |
19-09-11 |
Active |
NO |
|
|
|
|
Name : |
Mr. Hemant G. Modi |
|
Designation : |
Director |
|
Address : |
B-103, Amardham Apartment, Tithal, Valsad – 396 001, |
|
Date of Birth/Age : |
15.09.1963 |
|
Date of Appointment : |
07.10.2002 |
|
DIN No.: |
00145130 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U21010MH1990PLC057464 |
Shah Paper Mills
Limited |
Director |
07-10-02 |
07-10-02 |
Active |
NO |
|
2 |
U21010MH1993PLC074945 |
Shah Pulp and
Paper Mills Limited |
Whole-time
director |
30-09-10 |
01-04-05 |
Active |
NO |
|
3 |
U45202MH2008PTC183338 |
Your Home
Developers Private Limited |
Director |
15-09-09 |
20-09-08 |
Active |
NO |
|
|
|
|
Name : |
Mr. Purshottam Mohanbhai Gadhesria |
|
Designation : |
Director |
|
Address : |
RCF 14/160, Chanod Colony, GIDC, Vapi, Valsad – 396 195, |
|
Date of Birth/Age : |
03.02.1954 |
|
Date of Appointment : |
27.09.2008 |
|
DIN No.: |
01885419 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U21010MH1990PLC057464 |
SHAH PAPER MILLS
LIMITED |
Director |
27-09-08 |
29-11-07 |
Active |
NO |
|
|
|
|
Name : |
Mr. Girish Sarvotham Shetty |
|
Designation : |
Whole Time Director |
|
Address : |
306, Rajlaxmi Co-Operative Housing Society, Near Gunjan Cinema, GIDC,
Vapi, Valsad – 396 195, |
|
Date of Birth/Age : |
28.12.1973 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00144740 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U21010MH1993PLC074945 |
Shah Pulp and
Paper Mills Limited |
Director |
07-10-02 |
07-10-02 |
Active |
NO |
|
2 |
U21010MH1990PLC057464 |
Shah Paper Mills
Limited |
Whole-time
director |
30-09-10 |
01-04-05 |
Active |
NO |
|
3 |
U67120MH1996PLC101623 |
Shah Financial
Services Limited |
Director |
30-08-08 |
30-08-08 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mrs. Heena |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
Details of Equity Shares
|
Names of Equity Shareholders |
|
No. of Shares |
|
Mahendra Hirji Shah and Nisha Mahendra Shah |
|
2167150 |
|
Amritlal Khimji Shah and Hansaben Amritlal Shah |
|
727000 |
|
Hirji Tejshi Shah and Mahendra Hirji Shah |
|
586100 |
|
Nisha Mahendra Shah and Mahendra Hirji Shah |
|
586900 |
|
Pritesh Mahendra Shah and Mahendra Hirji Shah |
|
219250 |
|
Reena Mahendra Shah |
|
100350 |
|
Jayendra Zavenchand Shah and Hansaben Jayendra Shah |
|
246750 |
|
Ashok Zavenchand Shah and Mita Ashok Shah |
|
425400 |
|
Kasturben Zavenchand Shah |
|
60000 |
|
Mita Ashok Shah and Ashok Zavenchand Shah |
|
46500 |
|
Hansaben Jayendra Shah and Jayendra Zavenchand Shah |
|
84600 |
|
Hansaben Amritlal Shah and Amritlal Khimji Shah |
|
295000 |
|
Rajesh Amritlal Shah |
|
30000 |
|
Divyesh Amritlal Shah |
|
30000 |
|
Shah Financial Services Limited |
|
3604500 |
|
Amritlal Khimji Shah (HUF) |
|
47500 |
|
Hirji Tejshi Shah (HUF) |
|
190000 |
|
Jayendra Zavenchand Shah (HUF) |
|
50000 |
|
Dhanraj S. Shah and Archana D. Shah |
|
25000 |
|
Archana D. Shah and Dhanraj S. Shah |
|
25000 |
|
Kusum Deepak Rathod |
|
10000 |
|
Nitin Makhecha (HUF) |
|
10000 |
|
Jeetendra V.Somaiya(HUF) |
|
10000 |
|
Jeetendra B. Shah |
|
10000 |
|
Nitin S. Gori |
|
10000 |
|
Komal J. Shah |
|
10000 |
|
Saryu C. Shah, Priti V. Shah and Vipul M. Shah |
|
2500 |
|
Priti V. Shah and Vipul M.Shah |
|
6000 |
|
Mulchand Z.Shah, Vipul M. Shah and Priti V. Shah |
|
3500 |
|
Kanchanben M. Shah, Vipul M.Shah and Priti V . Shah |
|
12000 |
|
Chandrakant K. Shah (HUF) |
|
1000 |
|
Vipul M.Shah (HUF) |
|
9000 |
|
Pragna Narendra Joshi and Narendra H. Joshi |
|
10000 |
|
Narendra H. Joshi and Pragna N. Joshi |
|
10000 |
|
Milestone Holdings Limited, |
|
1000000 |
|
Enem Marketing Private Limited, |
|
250000 |
Details of 12% Non Cumulative Redeemable Preference Shares
|
Names of Preference Shareholders |
|
No. of Shares |
|
Shah Financial Services Limited, |
|
372500 |
|
Hemant P. Sampat Usha H. Sampat |
|
12500 |
|
Narayana M. Shetty Nisha N. Shetty |
|
5000 |
|
Amul Mercantile Private Limited, |
|
40000 |
|
Ambuj Mercantile Private Limited, |
|
30000 |
|
Aarika Steels and Metals Private Limited, |
|
30000 |
|
Enem Marketing Private Limited, |
|
10000 |
|
Total |
|
500000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
1.00 |
|
Bodies
corporate |
|
44.00 |
|
Directors
or relatives of directors |
|
52.00 |
|
Other
top fifty shareholders |
|
3.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Craft Paper. |
||||||||
|
|
|
||||||||
|
Products : |
Paper and Paper Products
|
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|
|
|
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|
Terms : |
|
||||||||
|
Selling : |
L/C, Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of ·
HDFC Bank Limited ·
Cosmos Co-Operative Bank Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Financial Institutions : |
Gujarat Industrial Investment Corporation Limited Chunibhai Chambers, |
|
|
|
|
Auditors : |
|
|
Name : |
R. R. Muni and Company Chartered Accountants |
|
Address : |
2543, Gokul, Building No. 55, Gandhi Nagar, Bandra (East), Mumbai -
400 051, |
|
PAN No.: |
AAAFR2711F |
|
|
|
|
Associates : |
·
Shah Pulp and Paper Mills Limited Address
:
Plot No 97, ·
Enem Marketing Private Limited ·
Shah Containers Private Limited ·
Shah Financial Services Limited ·
Pushpam Containers Private Limited ·
Just Pack Private Limited ·
Adarsh Packaging ·
Amar Packaging ·
Global Packers ·
Mahavir Packaging ·
S. G. Industries ·
Shah Packaging ·
Shah Paper Distributors ·
Shreenath Paper Agency ·
Jalaram Land Development Corporation ·
Shreenath Traders |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
500000 |
Preference Shares |
Rs.100/- each |
Rs.50.000 millions |
|
|
Total |
|
Rs.200.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11250000 |
Equity Shares |
Rs.10/- each |
Rs.112.500
millions |
|
500000 |
Preference Shares |
Rs.100/- each |
Rs.50.000 millions |
|
|
Total |
|
Rs.162.500 millions |
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 |
162.500 |
162.500 |
162.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
766.907 |
637.364 |
518.546 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
929.407 |
799.864 |
681.046 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
777.045 |
922.234 |
796.147 |
|
|
2] Unsecured Loans |
155.058 |
228.598 |
121.500 |
|
|
TOTAL BORROWING |
932.103 |
1150.832 |
917.647 |
|
|
DEFERRED TAX LIABILITIES |
123.166 |
115.662 |
104.621 |
|
|
|
|
|
|
|
|
TOTAL |
1984.676 |
2066.358 |
1703.314 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
977.205 |
1009.003 |
1043.195 |
|
|
Capital work-in-progress |
2.345 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.019 |
3.041 |
3.041 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
758.641
|
607.033 |
536.828 |
|
|
Sundry Debtors |
575.113
|
459.142 |
390.751 |
|
|
Cash & Bank Balances |
117.899
|
216.544 |
49.788 |
|
|
Other Current Assets |
95.395
|
106.942 |
0.000 |
|
|
Loans & Advances |
219.755
|
221.126 |
181.728 |
|
Total
Current Assets |
1766.803
|
1610.787 |
1159.095 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
646.485 |
478.524 |
443.263 |
|
|
Other Current Liabilities |
38.952
|
25.953 |
26.498 |
|
|
Provisions |
79.292
|
52.062 |
32.502 |
|
Total
Current Liabilities |
764.729
|
556.539 |
502.263 |
|
|
Net Current Assets |
1002.074
|
1054.248 |
656.832 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.033 |
0.066 |
0.246 |
|
|
|
|
|
|
|
|
TOTAL |
1984.676 |
2066.358 |
1703.314 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue |
3308.674 |
2886.344 |
2444.742 |
|
|
|
Other Income |
30.573 |
21.998 |
25.097 |
|
|
|
TOTAL (A) |
3339.247 |
2908.342 |
2469.839 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
2244.932 |
1841.304 |
|
|
|
|
Manufacturing service costs |
440.367 |
455.792 |
|
|
|
|
Employee related expenses |
62.137 |
60.721 |
|
|
|
|
Administrative selling other expenses
|
167.356 |
175.510 |
|
|
|
|
Prior period items |
0.049 |
0.046 |
|
|
|
|
TOTAL (B) |
2914.841 |
2533.373 |
2132.689 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
424.406 |
374.969 |
337.150 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL CHARGES (D) |
170.003 |
151.153 |
151.633 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
254.403 |
223.816 |
185.517 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
64.520 |
64.058 |
60.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
189.883 |
159.758 |
125.074 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
58.631 |
39.625 |
31.744 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
131.252 |
120.133 |
93.330 |
|
|
|
|
|
|
|
|
|
|
AMOUNT
TRANSFERRED RESERVES |
4.947 |
4.947 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
0.000 |
1.238 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Waste Paper |
NA |
126.523 |
102.093 |
|
|
|
Spares |
NA |
7.719 |
0.379 |
|
|
|
Machinery Purchase |
NA |
0.000 |
13.409 |
|
|
TOTAL IMPORTS |
NA |
134.242 |
115.881 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.17 |
10.22 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.93
|
4.13 |
3.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.74
|
5.53 |
5.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.92
|
6.10 |
5.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.20 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.83
|
2.13 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
2.89 |
2.31 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
646.485 |
478.524 |
443.263 |
|
Total |
646.485 |
478.524 |
443.263 |
|
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 |
NO |
|
12. |
Profitability for last three years |
NO |
|
13. |
Reasons for variations <> 20% |
NO |
|
14. |
Estimation for coming financial year |
NO |
|
15. |
Capital in the business |
NO |
|
16. |
Details of sister concerns |
YES |
|
17. |
Major Suppliers |
NO |
|
18. |
Major Customers |
NO |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
-- |
|
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 |
-- |
OPERATIONS SALES
The financial year
2010-11 witnessed commendable performance of Sales in terms of value. There has
been an increase of 12% in Value from Rs.2877.400 millions to Rs.3234.800
millions, while there has been a marginal decrease in Quantity from 114,810 MT
to 109,646 MT in the current year.
OPERATIONS : PRODUCTION
The Company
Certificate of Registration as a ISO: 9001 Unit from the
OPERATIONS : PROFITABILITY
There has been a
20% increase in net profit before tax, from Rs.164.600 millions in the previous
year to Rs.196.000 millions in the current year mainly due to increase in sales
and control of sales and distribution expenses.
FORM 8
|
Corporate identity number of the company |
U21010MH1990PLC057464 |
|
Name of the company |
SHAH PAPER MILLS LIMITED |
|
Address of the registered office or of the principal place of business in |
Angiline Apartment, B/202, 2nd Floor, Vile Parle (West),
Mumbai – 400 056, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10285598 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Cosmos Co-Operative Bank Limited E-Mail : info@cosmosbank.in |
|
Nature of instrument creating charge |
Cosmos Co-op. Bank Limited letter No. Cos/VPL/SHAH/246/11-12 dated
04.06.2011 regarding unutilised letter of Credit limit of Rs.150.000 millions
and hence subsequent modification of WCTL to Rs.75.000 millions only |
|
Date of instrument Creating the charge |
04.06.2011 |
|
Amount secured by the charge |
Rs.75.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Working Capital Loan : 12% p.a. Terms of Repayment Working Capital Loan : 60 months, monthly installment Rs.1.668
millions Margin Working Capital Loan : 25% in Banks Favour Extent and Operation of the charge Commercial Premises at No 101 (1st Floor), unit No 102 (mezzanine),
and 2 car spaces in Vitoria on Plot No 28, City Survey NO 759/28, (final
265), Deccan GYm, Shivaji Nagar, Pune Period 60 Months. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Commercial premises No 101 (1st Floor), unit No 102 (mezzanine), and 2
car spaces in Vitoria on Plot No 28, City Survey NO 759/28, (final 265),
Deccan GYm, Shivaji Nagar, Pune |
|
Particulars of the present modification |
For reduction in the credit facility sanctioned due to withdrawal of
the unutilised LC limit of Rs.150.000 millions and subsequent charge modified
to Rs.75.000 millions as per Banks letter dated 4th June 2011 |
FIXED ASSETS
·
·
Office Block
·
Plant and Machinery
·
Godowns
·
Workshop Equipment
·
Laboratory Equipment
·
Water Cooler
·
Fire Fighting Equipment
·
Furniture and Fixture
·
Borewell
·
Jeep / Motor Car
·
Cycles
·
MIC/Scooter
·
Electric Installation
·
Electric Fitting
·
·
Office Equipment
·
Computer
·
Diesel Generating Sets
·
Steam Turbine
·
Air Conditioners
·
E T P Plant
·
Bag Filter Plant
·
Site Development
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] 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.49.13 |
|
|
1 |
Rs.77.85 |
|
Euro |
1 |
Rs.64.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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.