|
Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
MITSU INKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shop 12, Gurudev Commercial Complex, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.04.2009 |
|
|
|
|
Com. Reg. No.: |
04-056532 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24223GJ2009PTC056532 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Mitsu-DX Digital Ink Series and Inkjet
Ink Series. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 21000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
appears to be low. Trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with some
cautions. Profit and loss account of the company is not available. |
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 |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Manoj |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-9825139892 |
|
Date : |
10.05.2012 |
LOCATIONS
|
Registered Office : |
Shop 12, Gurudev Commercial Complex, |
|
Tel. No.: |
91-260-26533757/ 2258987 |
|
Mobile No.: |
91-9825139892 (Mr. Manoj) |
|
Fax No.: |
91-260-22410492 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.19, Laghu Udyog Sahkari Mandli, Bhilad, |
|
Tel. No.: |
91-260-6533758 |
|
Fax No.: |
91-260-2410492 |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: v
v
|
|
Location : |
Rented |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Hanif Abdula Mohmed Belim |
|
Designation : |
Director |
|
Address : |
12, Gurudev Complex, Imran Nagar, Vapi – 396 102, |
|
Date of Birth/Age : |
14.09.1966 |
|
Qualification : |
Chemical Engineer |
|
Experience : |
21 Years |
|
Date of Appointment : |
03.04.2009 |
|
DIN No.: |
02525011 |
|
|
|
|
Name : |
Mrs. Bilkisbanu Hanif Belim |
|
Designation : |
Director |
|
Address : |
306, Titupati Apartments, At Bhilad, Valsad – 396 195, |
|
Date of Birth/Age : |
06.02.1970 |
|
Date of Appointment : |
03.04.2009 |
|
DIN No.: |
02524673 |
|
|
|
|
Name : |
Ms. Poonam P. Gungliya |
|
Designation : |
Director |
|
Address : |
12, Gurudev Complex, Imran Nagar, Vapi – 396 102, |
|
Date of Birth/Age : |
06.02.1970 |
|
Date of Appointment : |
04.04.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Hanif A. Belim |
|
250000 |
|
Bilkisbanu Belim |
|
250000 |
|
Total |
|
500000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Mitsu-DX Digital Ink Series and Inkjet
Ink Series. |
|
|
|
|
Products : |
v Industrial Ink v Printing Ink v Flexographic Ink (Flexo Ink) v PVC Film Printing Inks v Gravure Inks v Water based Ink v Transparent Inks v Screen Printing Ink v High Gloss Inks v Lamination Inks v Printing Ink and Paint Raw Material v UV Resistant Tape Testing Inks v PCB Inks v Solvent Based (Pigment Based) Digital Inks v Fabric Inks v Heat Resistant Inks v Digital Inks |
|
|
|
|
Exports : |
|
|
Products : |
v
Printing Inks |
|
Countries : |
v
UAE v
v
US |
|
|
|
|
Imports : |
|
|
Products : |
v Raw material |
|
Countries : |
v
v
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30/ 60 days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30/ 60 days)
|
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
25 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
v
IDBI Bank Limited, v
IDBI Bank Limited, Vapi, v
Bank of |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Iyer and Company Chartered Accountants |
|
Address : |
C-5-21, |
|
Income-tax
PAN of auditor or auditor's firm : |
AACPR2834H |
|
|
|
|
Sister Concerns : |
Metrochem
Industries Address: Vapi, Line of Business: Manufacturer of Liquid soap and other house keeping
items. Mitsu Marketing Address: Vapi, Line of Business: Trading in Safety Items. |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
5.000 |
5.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.182 |
0.054 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
5.182 |
5.054 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
4.650 |
12.762 |
|
|
2] Unsecured Loans |
|
16.660 |
0.024 |
|
|
TOTAL BORROWING |
|
21.310 |
12.786 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
26.492 |
17.840 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
6.251 |
4.742 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
13.257 |
8.093 |
|
|
Sundry Debtors |
|
4.536 |
5.531 |
|
|
Cash & Bank Balances |
|
2.608 |
0.077 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.607 |
1.332 |
|
Total
Current Assets |
|
22.008 |
15.033 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
2.595 |
1.779 |
|
|
Other Current Liabilities |
|
0.000 |
0.006 |
|
|
Provisions |
|
0.138 |
0.150 |
|
Total
Current Liabilities |
|
2.733 |
1.935 |
|
|
Net Current Assets |
|
19.275 |
13.098 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.966 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
26.492 |
17.840 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
4.64 |
2.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
8.05 |
7.77 |
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 |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last two years |
No |
|
12) Profitability
for last two years |
No |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
Yes |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
Yes |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
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 |
Note:
The registered office of the company has been shifted form B-306,
Tirupathi Co-Operative Society, Near Bank of
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24223GJ2009PTC056532 |
|
Name of the
company |
MITSU INKS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shop 12, Gurudev Commercial Complex, E-Mail: subuji@gmail.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge |
|
Particular of
charge holder |
CIN No.: L65190MH2004GOI148838 IDBI Bank Limited, E-Mail: rakesh.sinha@idbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
1. Hypothecation
Agreement 2. Instrument
relating to deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
08.12.2011 |
|
Amount secured by
the charge |
Rs.5.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: BBR + 4.50% p.a. BBR presently at
10.75% p.a. Terms of
Repayment: Working capital Rs.4.000
millions: Repayable on demand. LC of Rs.1.000
million: Tenure not to exceed 90 days
/ 3 months line Margin: 25% on Stock and
40% on Book debts Extent and
Operation of the charge: The Bank has
sanctioned the credit facility from Rs.4.000 millions cash credit and
Rs.1.000 million LC and the entire credit limit of Rs.5.000 millions is
secured by way of charge on all the movable current assets of the Company
both present and future and the same is additionally secured by way of
registered equitable mortgage of immovable property of M/s. Metrochem
Industries Proprietor Hanif Abdullah Belim situated at Plot No.19, Laghu
Udyog Sahakari Mandali Limited, Sarigam, Bhilad, Gujarat. |
|
Short particulars
of the property charged |
The whole of the movable
properties of the borrower including its movable plant and machinery,
machinery spares, tools and accessories and raw material, goods, book debts,
vehicles and all other movable including receivables, documents of title to
goods, outstanding monies, bills, invoice, documents, contracts, insurance
policies, guarantees, investments and rights both present and future whether
installed or not and whether now lying loose or in cases which are now lying
or stored in or about or shall hereafter from time to time during the
continuance of security of these presents be brought into or upon or be
stored or be in or about all the Borrowers offices, premises, factories and
godowns or wherever else the same may be or be held by any party to the order
or disposition of the Borrower or in the course of transit or on high seas or
on order or delivery, howsoever ad wheresoever in the possession of the
Borrower and either by way of substitution or addition. All that pieces and
parcels of Plot No.19 admeasuring 2400 sq mtrs located at Laghu Udyog
Sahakari Mandali Limited, Sarigam, Bhilad, |
|
Whether any of the property or interest therein under reference is not
registered in the name of the company |
Yes |
|
If yes, in whose name it is registered |
Metrochem Industries Proprietor Mr. Hanif Abdulla Belim |
FIXED ASSETS:
v
Building
v
Blackberry
v
Electrification
v
Computer
v
Furniture
v
Machinery
v
Vehicle (TATA-207 DI-RX)
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.56.42 |
|
|
1 |
Rs.87.38 |
|
Euro |
1 |
Rs.69.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.