|
Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
STIC ON PAPERS PRIVATE LIMITED |
|
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Registered Office : |
Plot No.178C and 178D, IDA Mallapur, Nacharam, |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
30.08.1999 |
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Com. Reg. No.: |
01-032393 |
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Capital
Investment / Paid-up Capital : |
Rs.12.618
millions |
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CIN No.: [Company
Identification No.] |
U21020AP1999PTC032393 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
HYDS05976F |
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PAN No.: [Permanent
Account No.] |
AAFCS1039P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Self Adhesive Label Stock,
Silicon Coated Release Liners etc. |
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No. of Employees
: |
30 (Approximately) (In Office + In Factory) |
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 123000 |
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|
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Status : |
Satisfactory |
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Payment Behavior : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Profitability of the company appears to be fair. Trade relations are reported as fair. Business is active. Payment
terms are usually correct The company can be considered 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very
High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from January
1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a
119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
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 PARTED BY
|
Name : |
Mr. Satish Babu |
|
Designation : |
Accounts Department |
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Contact No.: |
91-40-27178987 |
|
Date : |
29.11.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.178C and 178D, IDA Mallapur, Nacharam, Hyderabad – 500 076,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-27178987/ 27151778 |
|
Mobile No.: |
91-9849018113 (Mr. K Karan Reddy) |
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Fax No.: |
91-40-27175420 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
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Regional Office : |
12-13-707, Keemti Colony, Taranaka, Secunderabad – 500 017, Andhra
Pradesh, India |
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Tel. No.: |
91-40-27151776/ 27151778 |
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Fax No.: |
91-40-27173349 |
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Area : |
40000 sq. ft. – Constructed Area (12000 sq. ft. Factory and 2000 sq.
ft. Office) |
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Location : |
Owned |
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|
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Representative Office : |
Located at ·
Delhi ·
Mumbai ·
Chennai |
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Branch Office : |
81, Phase 3, Sri Venkateswara Co-operative Industrial Estate,
Hyderabad -500 037, Andhra Pradesh, India |
DIRECTORS
AS ON 20.09.2013
|
Name : |
Mr. Kotha Karan Reddy |
|
Designation : |
Managing Director |
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Address : |
12-13-707, Keemthi Colony, Taranaka, Hyderabad – 500 017, Andhra
Pradesh, India |
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Date of Birth/Age : |
04.04.1969 |
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Qualification : |
Engineer |
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Date of Appointment : |
30.08.1999 |
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DIN No.: |
01232560 |
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|
Name : |
Mrs. Kotha Hima Shaila |
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Designation : |
Director |
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Address : |
12-13-707, Keemthi Colony, Taranaka, Hyderabad – 500 017, Andhra
Pradesh, India |
|
Date of Birth/Age : |
03.12.1975 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
28.08.2001 |
|
DIN No.: |
00679329 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Babu |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2013
|
Name of Shareholders |
No of shares |
|
K Karan Reddy |
447700 |
|
K Hima Shaila |
693600 |
|
B Hima Bindu |
105500 |
|
B Sridhar |
15000 |
|
Total |
1261800 |
AS ON 20.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Self Adhesive Label Stock,
Silicon Coated Release Liners etc. |
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Products : |
·
Paper Convertors ·
Label Stock |
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Exports : |
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Products: |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
USA ·
Singapore ·
China |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
30 (Approximately) (In Office + In Factory) |
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Bankers : |
·
Corporation Bank, Tarnaka Branch, Secunderabad,
Andhra Pradesh, India (Tel. No.: 91-40-27155275) ·
State Bank of Hyderabad, Kushaiguda Branch, E C I
L Post, Hyderabad – 500 062, Andhra Pradesh, India ·
HSBC Bank, Banjara Hills ·
Vijaya Bank ·
State Bank of India |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Brij Gopal Gilada and Company Chartered Accountants |
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Address : |
5-9-191, 302, 3rd Floor, Brindavan Complex, Chirag Ali
Lane, ABIDS, Hyderabad – 500 001, Andhra Pradesh, India |
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Tel. No.: |
91-40-66666450/ 40177776 |
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Mobile No.: |
91-9866666529 |
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E mail: |
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PAN No.: |
AADFR0763L |
CAPITAL STRUCTURE
AS ON 20.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1350000 |
Equity Shares |
Rs.10/- each |
Rs.13.500 millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1261800 |
Equity Shares |
Rs.10/- each |
Rs.12.618
millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note:
Financial Details File Attached.
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 |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
No |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if
applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
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31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
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33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10037829 |
21/07/2011 * |
69,600,000.00 |
STATE BANK OF
HYDERABAD |
KUSHAIGUDA
BRANCH, KUSHAIGUDA, HYDERABAD, ANDHRA |
B19102086 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loan from
Directors |
3.365 |
0.000 |
|
Loan from Others |
1.200 |
1.200 |
|
Total |
4.565 |
1.200 |
Note:
The registered office of the company has been shifted from
12-13-707, Keemti Colony, Tarnaka, Hyderabad – 500 037, Andhra Pradesh to the
present address w.e.f. 01.12.2007.
OPERATING RESULTS:
The Company during
the financial year ended 31st March 2013 has achieved a turnover of
Rs.197.608 millions as against a turnover of Rs.180.230 millions achieved
during the previous financial year and earned a Net Profit after tax of Rs.4.701
millions as against a Net Profit of 3.846 millions earned in the previous
corresponding period. The directors are confident of achieving higher turnover
and profits in the current fiscal year, as there was good demand for the
products of the Company and were trying their best to reduce the cost of
production
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
EDP Equipments
·
Vehicles
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.61.33 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.83.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.