MIRA INFORM REPORT
|
Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SRICHAKRA PRINTS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
WAYNE ALLOYS STEELS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Plot No.W-141, T.T.C. Industrial Area, Kherne, M.I.D.C., Thane –
400705, Navi Mumbai, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
26.04.1994 |
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Com. Reg. No.: |
11-077986 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.250 Millions |
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|
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CIN No.: [Company Identification
No.] |
U99999MH1994PTC077986 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Computer Stationery. |
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|
No. of Employees
: |
Information Denied By Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 90000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having a satisfactory track
record. It has recorded better profits during 2012. Trade relations are
decent. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced controls
on foreign trade and investment, began in the early 1990s and has served to
accelerate the country’s growth, which has averaged more than 7% per year since
1997. India’s diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India’s output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis – in large
part because of strong domestic demand – and growth exceeded 8% year-on-year in
real terms. However, India’s economic growth in 2011 slowed because of
persistently high inflation and interest rates and little progress on economic
reforms. High international crude prices have exacerbated the government’s fuel
subsidy expenditures contributing to a higher fiscal deficit, and a worsening
current account deficit. Little economic reform took place in 2011 largely due
to corruption scandals that have slowed legislative work. India’s medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non co-operative (91-22-27628251)
LOCATIONS
|
Registered Office/ Factory : |
Plot No.W-141, T.T.C. Industrial Area, Kherne, M.I.D.C., Thane –
400705, Navi Mumbai, |
|
Tel. No.: |
91-22-27682851 / 27682852 / 27682853 / 27781234 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Location : |
Owned |
DIRECTORS
As on: 17.09.2012
|
Name : |
Ms. Sunita Pravin Lalwani |
|
Designation : |
Director |
|
Address : |
4/193, Vijay Nivas, Station Road, Wadala, Mumbai - 400031,
Maharashtra, India |
|
Date of Birth/Age : |
09.04.1945 |
|
Date of Appointment : |
27.05.2002 |
|
DIN No.: |
00560757 |
|
|
|
|
Name : |
Mr. Sampat Ganesh Jain |
|
Designation : |
Director |
|
Address : |
Suchandra, Sector 20, Plot G-21, Belapur, Navi Mumbai - 400614,
Maharashtra, India |
|
Date of Birth/Age : |
21.05.1941 |
|
Date of Appointment : |
27.05.2002 |
|
DIN No.: |
00348517 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 17.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sunita Pravin Lalwani |
|
21250 |
|
Sampat Ganesh Jain |
|
21250 |
|
|
|
|
|
Total |
|
42500 |
Equity Share Break up (Percentage of Total Equity)
As on: 17.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Computer Stationery |
GENERAL INFORMATION
|
No. of Employees : |
Information Denied By Management. |
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Bankers : |
· Bank of India, Wadala West Branch, Mumbai, Maharashtra, India
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Neerav M. Sanghavi Chartered Accountant |
|
Address : |
Satyam Shopping Centre, “A” Wing Basement – 5, M. G. Road, Ghatkopar
(East), Mumbai – 400077, Maharashtra, India |
|
Tel. No.: |
91-22-25110464/ 21029050 |
|
Fax No.: |
91-22-25166155/ 21029051 |
|
E-Mail : |
neeravsanghavi2yahoo.com |
|
PAN.: |
ABAPS6955K |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42500 |
Equity Shares |
Rs.100/-
each |
Rs. 4.250 Millions
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.250 |
4.250 |
4.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
19.434 |
14.537 |
11.026 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
23.684 |
18.787 |
15.276 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12.484 |
24.604 |
24.982 |
|
|
2] Unsecured Loans |
25.029 |
0.000 |
14.532 |
|
|
TOTAL BORROWING |
37.513 |
24.604 |
39.514 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
61.197 |
43.391 |
54.790 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
47.817 |
44.205 |
45.250 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.589 |
1.480 |
0.808 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
OTHER NON CURRENT ASSETS |
0.241 |
0.090 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
42.778
|
14.086
|
10.304
|
|
|
Sundry Debtors |
55.095
|
23.408
|
17.973
|
|
|
Cash & Bank Balances |
0.532
|
2.363
|
2.803
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
16.417
|
10.896
|
17.593
|
|
Total
Current Assets |
114.822
|
50.753
|
48.673
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
96.545
|
40.522
|
29.398
|
|
|
Other Current Liabilities |
5.727
|
12.615
|
0.000
|
|
|
Provisions |
0.000
|
0.000
|
10.723
|
|
Total
Current Liabilities |
102.272
|
53.137
|
40.121
|
|
|
Net Current Assets |
12.550
|
(2.384)
|
8.552
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.180 |
|
|
|
|
|
|
|
|
TOTAL |
61.197 |
43.391 |
54.790 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.087 |
5.111 |
6.337 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
166.75 |
120.26 |
149.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.58
|
1.31 |
2.58
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
0.96 |
1.21
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Sundry Creditors
For Goods |
|
|
18.350 |
|
Sundry Creditors
For Expenses |
|
|
11.048 |
|
Total |
96.545 |
40.522 |
29.398 |
|
Sr. No. |
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 |
No |
|
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 |
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The registered office of the company has been shifted from C 399, MIDC, T. T. C., Industrial Area Turbhe,
Thane – 400024, Maharashtra, India to present address w.e.f. 01.10.2008
FINANCIAL RESULTS,
OPERATION AND OUTLOOK:
The Company has made a Net Profit of Rs. 7.087 Millions for the Current Year as compared against the previous year, the Directors are confident that the sales and profit of the Company will show further improvement in the coming year. The directors expect encouraging results in the next year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U99999MH1994PTC077986 |
|
Name of the
company |
SRICHAKRA PRINTS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.W-141, T.T.C. Industrial Area, Kherne, M.I.D.C., Thane –
400705, Navi Mumbai, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10111482 |
|
Type of charge |
|
|
Particular of
charge holder |
The Greater Bombay Co-operative Bank Limited, GBCB House, Mumbai – 400002, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Agreement. |
|
Date of
instrument Creating the charge |
06.02.2012 |
|
Amount secured by
the charge |
Rs. 19.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ PLR
+1.50% i.e.15% p.a. at monthly rests. Terms of Repayment Cash Credit facility
of Rs. 12.000 Millions shall be repayable On Demand. Term Loan of Rs.
7.500 Millions shall be repayable in suitable installments. Margin As may be
stipulated by the bank from time to time.. Extent and Operation of the charge At the request of
Company the Bank has agreed to Convert the Letter of Credit facility of Rs.
3.500 Millions in to Cash Credit facility.
However charge created on Stocks, Book Debts, Plant and Machinery and
immovable properties situated at Ranga Reddy District A. P. of the Company,
as specified in item No.15, shall continue to secure the limit of Rs. 19.500
Millions. Others Consequent to
conversion of LC facility into CC, the realignment of facilities are as under
: a) CC limit
stands increased from Rs. 8.500 Millions to Rs. 12.000 Millions (i.e.
conversion LC Rs 3.500 Millions into CC) b) Term Loan of
Rs. 7.500 Millions shall continue |
|
Short particulars
of the property charged |
|
|
Date of
instrument modifying the charge |
06.05.2010 |
|
Particulars of
the present modification |
At the request of
Company the Bank has agreed to convert the Letter of Credit facility of Rs.
3.500 Millions in to Cash Credit facility.
However charge created on
Stocks, Book Debts, Plant and Machinery and immovable properties situated at
Renga Reddy District A. P. of the Company shall continue to secure the limit
of Rs.19.500 Millions [comprising therein : Rs. CC : 12.000 Millions and TL :
Rs. 7.500 Millions]. |
UNSECURED LOAN
(Rs in Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Loans Banks and financial institutions |
9.193 |
0.000 |
|
Term Loan from banks |
10.361 |
0.000 |
|
Loans from Directors and Relatives |
5.475 |
0.000 |
|
Total |
25.029 |
0.000 |
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 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 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. 54.46 |
|
|
1 |
Rs. 83.13 |
|
Euro |
1 |
Rs. 70.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.