|
Report Date : |
20.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHELL GRAPHICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
475, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.12.1991 |
|
|
|
|
Com. Reg. No.: |
10-006817 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21015MP1991PTC006817 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLS03573D |
|
|
|
|
Legal Form : |
Private Limited Liability
Company |
|
|
|
|
Line of Business
: |
Manufacturer of Flexible Packaging Materials. |
|
|
|
|
No. of Employees
: |
30 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 12000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some dip in the profitability of the company. However, trade relations are
reported to be fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings in some
cautions. |
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. Sapan Neema [Son of Director] |
|
Contact No.: |
91-731-4059933 |
|
Date : |
16.06.2012 |
LOCATIONS
|
Registered Office/ Factory : |
475, A.B. Road, Opposite Royal Park Hotel, Rajendra Nagar,
Indore-452012, Madhya Pradesh, India |
|
Tel. No.: |
91-731-4059933/4059944/2856868 |
|
Fax No.: |
91-731-4059944 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Girish Neema |
|
Designation : |
Director |
|
Address : |
475, A.B. Road, Opposite Royal Park Hotel, Rajendra Nagar,
Indore-452012, Madhya Pradesh, India |
|
Date of Birth/Age : |
22.09.1955 |
|
Date of Appointment : |
06.12.1991 |
|
Din No.: |
00293481 |
|
|
|
|
Name : |
Mrs. Sheetal Neema |
|
Designation : |
Director |
|
Address : |
475, A.B. Road, Opposite Royal Park Hotel, Rajendra Nagar,
Indore-452012, Madhya Pradesh, India |
|
Date of Birth/Age : |
13.09.1956 |
|
Date of Appointment : |
20.12.1993 |
|
Din No.: |
00778432 |
|
|
|
|
Name : |
Mrs. Subhadra Neema |
|
Designation : |
Director |
|
Address : |
476, A.B. Road, Opposite Royal Park Hotel, Rajendra Nagar,
Indore-452012, Madhya Pradesh, India |
|
Date of Birth/Age : |
07.07.1947 |
|
Date of Appointment : |
20.12.1993 |
|
Din No.: |
00444327 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Girish Neema |
|
2950 |
|
Rishi Kumar Neema |
|
2950 |
|
Sheetal Neema |
|
560 |
|
Subhadra Neema |
|
610 |
|
Akash Neema |
|
310 |
|
Megha Neema |
|
10 |
|
Dharti Shah |
|
205 |
|
Sapan Neema |
|
340 |
|
Vaibhav Neema |
|
340 |
|
Payal Neema |
|
300 |
|
Girish Kumar Neema HUF |
|
20 |
|
Hraday Shah |
|
180 |
|
Hardik Neema |
|
195 |
|
Biren Shah |
|
190 |
|
Suhani Neema |
|
90 |
|
Neha Neema |
|
750 |
|
|
|
|
|
Total |
|
10000 |
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 of Flexible Packaging Materials. |
|
|
|
|
Imports : |
|
|
Products : |
Machinery |
|
Countries : |
·
US ·
Europe |
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|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
Others [Manufacturer] |
|||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
30 [Approximately] |
|||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Central Bank of India, 1, Bargal Colony,
Indore-452004, Madhya Pradesh, India ·
Bank of Maharashtra, Lokmanya Nagar Branch,
Indore, Madhya Pradesh, India |
|||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mahendra Badjatya and Company Chartered Accountants |
|
Address : |
208, Morya Center, 16, Race Course Road, Indore-452003, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-2532783/2535934 [Office] 91-731-2430542 [Residential] |
|
Mobile No.: |
91-9827023923 |
|
Fax No.: |
91-731-2532783 |
|
E-Mail : |
|
|
Pan No.: |
ACFPB4495F |
|
|
|
|
Associates : |
Shell Prinpack Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.275 |
0.275 |
|
|
3] Reserves & Surplus |
2.021 |
1.901 |
1.350 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.021 |
3.176 |
2.625 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
15.017 |
4.043 |
2.600 |
|
|
2] Unsecured Loans |
9.245 |
5.354 |
4.062 |
|
|
TOTAL BORROWING |
24.262 |
9.397 |
6.662 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.283 |
12.573 |
9.287 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.607 |
7.592 |
6.272 |
|
|
Capital work-in-progress |
0.457 |
0.435 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.114
|
3.315 |
2.450 |
|
|
Sundry Debtors |
4.914
|
3.288 |
2.544 |
|
|
Cash & Bank Balances |
0.252
|
0.140 |
0.102 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
9.621
|
0.376 |
0.613 |
|
Total
Current Assets |
22.901
|
7.119 |
5.709 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.208
|
2.098 |
2.215 |
|
|
Other Current Liabilities |
0.442
|
0.370 |
0.324 |
|
|
Provisions |
0.032
|
0.105 |
0.155 |
|
Total
Current Liabilities |
3.682
|
2.573 |
2.694 |
|
|
Net Current Assets |
19.219
|
4.546 |
3.015 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.283 |
12.573 |
9.287 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14.485 |
14.578 |
14.868 |
|
|
|
Interest Received on Deposits |
0.004 |
0.000 |
0.000 |
|
|
|
Trading Profit |
0.015 |
0.000 |
0.000 |
|
|
|
Labour Charges (Printing) |
2.500 |
1.546 |
1.060 |
|
|
|
Discount Received |
0.053 |
0.007 |
0.020 |
|
|
|
TOTAL (A) |
17.057 |
16.131 |
15.948 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Loss on Sale of Car |
0.000 |
0.088 |
0.000 |
|
|
|
Materials Cost |
11.617 |
10.699 |
11.481 |
|
|
|
Manufacturing Expenses |
0.757 |
1.322 |
0.582 |
|
|
|
Employees Remuneration and Benefits |
0.788 |
0.749 |
0.710 |
|
|
|
Administrative and General Expenses |
1.475 |
1.189 |
1.047 |
|
|
|
Prior Period Expenses |
0.032 |
0.000 |
0.002 |
|
|
|
TOTAL (B) |
14.669 |
14.047 |
13.822 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.388 |
2.084 |
2.126 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.619 |
0.828 |
0.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.769 |
1.256 |
1.456 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.631 |
0.600 |
0.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.138 |
0.656 |
0.928 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.018 |
0.105 |
0.151 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.120 |
0.551 |
0.777 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.901 |
1.350 |
0.573 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.021 |
1.901 |
1.350 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
12.03 |
55.12 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.70
|
3.42 |
4.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.95
|
4.50 |
6.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.45
|
4.46 |
7.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.21 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.25
|
3.77 |
3.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.22
|
2.77 |
2.12 |
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 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 |
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10094118 |
|
Corporate
identity number of the company |
U21015MP1991PTC006817 |
|
Name of the
company |
SHELL GRAPHICS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
475, A.B. Road, Opposite Royal Park Hotel, Rajendra Nagar,
Indore-452012, Madhya Pradesh, India |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
Central Bank of India, 1, Bargal Colony, Indore-452004, Madhya
Pradesh, India Email: bmindo0977@centralbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
1. Articles of
Agreement for hypothecation of Machinery for term loan of Rs. 6.500 Millions. 2. Agreement of
Hypothecation of Machinery. |
|
Date of
instrument Creating the charge |
17.01.2011 |
|
Amount secured by
the charge |
Rs.15.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base rate +
3.5%+0.5 Term premium i.e. @ 13% P.A. at present subject to change with the
change in Base Rate. Terms of
Repayment Term loan will be
repayable in 60 EMI for Rs.0.148 million including moratorium period. Interest as and when charged during the
moratorium period is to be recovered. Repayment to start from April 2011. Margin 25% or Rs.2.300
millions whichever is higher. Extent and
Operation of the charge Till the currency
of the charge. Others Other terms and
conditions as per agreement. |
|
Short particulars
of the property charged |
Primary: -
Hypothecation of current Assets, Plants and Machineries installed/to be installed
at the factory/ work site. Collateral: -
Reaffirmation of EM of the Industrial cum Residential land and building
situated at Land Survey no. -150/1/1 (part) Patwari Halka No. 11, Vill-Rau,
Tehsil/ District-Indore. Collateral: - At
plot no.746 A.B. Road Opposite Royal park Hotel, Rajendra Nagar, Indore. |
|
Date of latest
modification prior to the present modification |
08.11.2010 |
|
Particulars of
the present modification |
-Fresh Term Loan
for purchase of Machinery- Rs.6.500 Millions. -Overall Limit
increased from Rs. 9.000 Millions to Rs. 15.500 Millions. |
FIXED ASSETS:
·
Office Automation
·
Plant and Machinery
·
Computers
·
Car
·
Vehicle-Maruti Swift
·
Furniture and Fixtures
·
Hand Cart and Cycle
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.56.01 |
|
|
1 |
Rs.87.85 |
|
Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
|
Information Gathered
by : |
SBA |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.