MIRA
INFORM REPORT
|
Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
MICRO LINKS LIMITED |
|
|
|
|
Formerly Known
As : |
HINDUSTAN INKS LIMITED |
|
|
|
|
Registered
Office : |
Bilakhia House, Muktanand Marg, Chala, Vapi – 396191, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
13.11.1991 |
|
|
|
|
Com. Reg. No.: |
04-016598 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.248.730 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24220GJ1991PLC016598 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7063F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Printing Inks |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 36410000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company havinf fine track record. Overall financial position of the company appears to be strong and
healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
tarde 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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities AA+ |
|
Rating Explanation |
High credit quality and low credit risk. |
|
Date |
September 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term debt A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
September 2013 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Rajesh |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-260-3052100 |
|
Date : |
12.12.2013 |
LOCATIONS
|
Registered Office : |
Bilakhia House, Muktanand Marg, Chala, Vapi – 396191, Gujarat, India |
|
Tel. No. : |
91-260-3052109 |
|
Fax No. : |
91-260-3052125 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Located at: ·
Silvasa ·
Vapi ·
Daman |
|
|
|
|
Sales Office : |
Located at: Western Region ·
Andheri ·
Ahmedabad ·
Baroda ·
Pune · Nagpur ·
Indore Northern
Region ·
Noida ·
Ludhiana ·
Kanpur Southern Region ·
Chennai ·
Bangalore ·
Hyderabad ·
Sivakasi Eastern
Region ·
Kolkata |
|
|
|
|
Marketing Office : |
907, Windfall, Sahar Plaza, J B Nagar, Andheri (East), Mumbai-400059,
India |
|
Tel. No. : |
91-22-28360201 / 28364313 |
|
Fax No. : |
91-22-28379660 / 28222222 |
DIRECTORS
As on 30.04.2013
|
Name : |
Ms. Ashwani Kumar Bhardwaj |
|
Designation : |
Managing director |
|
Address : |
Flat No. 1001, Emerald, Royal Gems, Vapi Daman Road, Vapi – 396191,
Gujarat, India |
|
Date of Birth/Age : |
18.03.1958 |
|
Date of Appointment : |
31.01.2007 |
|
DIN No. : |
01515689 |
|
|
|
|
Name : |
Ursula Borgmann |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
The Village, Near Collectorate, Damanwada, Moti Daman - 396220, U.T.,
India |
|
Date of Birth/Age : |
07.09.1955 |
|
Date of Appointment : |
03.02.2006 |
|
DIN No. : |
01541193 |
|
|
|
|
Name : |
Mr. Hasmukh Shantilal Shah |
|
Designation : |
Director |
|
Address : |
15, Dhanusya Society, Sama Road, Vadodara – 390008, Gujarat, India |
|
Date of Birth/Age : |
04.10.1934 |
|
Date of Appointment : |
27.06.2000 |
|
Voter ID No. : |
HDG5241344 |
|
DIN No. : |
00152195 |
|
|
|
|
Name : |
Mansingh Laxmidas Bhakta |
|
Designation : |
Director |
|
Address : |
4, Sagar Villa, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
03.12.1931 |
|
Date of Appointment : |
27.06.2000 |
|
Voter ID No. : |
MT/04/024/198444 |
|
DIN No. : |
00001963 |
|
|
|
|
Name : |
Mr. Pradip Navin Khandwalla |
|
Designation : |
Director |
|
Address : |
B/101, Jupiter Tower, Opposite Samkit Bungalows, Bodakdev, Ahmedabad –
380054, Gujarat, India |
|
Date of Birth/Age : |
18.02.1940 |
|
Date of Appointment : |
13.01.2005 |
|
DIN No. : |
00064643 |
|
|
|
|
Name : |
Heinrich Ringer |
|
Designation : |
Director |
|
Address : |
The Village, Near Collectorate, Damanwada, Moti Daman - 396220, U.T.,
India |
|
Date of Birth/Age : |
21.12.1944 |
|
Date of Appointment : |
01.05.2010 |
|
DIN No. : |
01540491 |
|
|
|
|
Name : |
Kadankote Kannan Unni |
|
Designation : |
Director |
|
Address : |
207, Mari Gold, 236, Raheja Enclave, Race Course Road, Coimbatore –
641018, Tamilnadu, India |
|
Date of Birth/Age : |
15.07.1941 |
|
Date of Appointment : |
01.05.2010 |
|
Voter ID No. : |
MT/208/03/06/210501 |
|
DIN No. : |
00227858 |
|
|
|
|
Name : |
Thomas Otto Lothar Hensel |
|
Designation : |
Additional director |
|
Address : |
Mozarting 4, 85598 Baldham, Germany |
|
Date of Birth/Age : |
22.09.1958 |
|
Date of Appointment : |
30.04.2013 |
|
DIN No. : |
06605620 |
KEY EXECUTIVES
|
Name : |
Mr. Alpesh Mansukhlal Chaniyara |
|
Designation : |
Secretary |
|
Address : |
Block No. 2, Shree Chala Co-operative Housing Society, Vapi Daman
Road, Chala, Vapi – 396191, Gujarat, India |
|
Date of Birth/Age : |
13.06.1977 |
|
Date of Appointment : |
01.06.2011 |
|
PAN No.: |
AEHPC5783R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.04.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.04.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
99.26 |
|
Bodies corporate |
0.46 |
|
Directors or relatives of Directors |
0.01 |
|
Other top fifty shareholders |
0.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Printing Inks |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Terms : |
|
||||||||||||
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Selling : |
L/C and Credit |
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|
||||||||||||
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users ·
Times of India ·
Divys Bhaskar |
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|
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No. of Employees : |
800 (Approximately) |
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|
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|
Bankers : |
·
DBS Bank Limited, Upper Ground Floor, Birla Road,
25 Barakhamba Road, New Delhi - 110001, India Tel No. : 91-22-66388888 ·
DBS Bank Limited, Credit Control Unit 3rd
Floor, Fort House, Dr. D.N. Road, Fort, Mumbia – 400001, Maharashtra, India |
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
DELOITTE
HASKINS and SELLS Chartered Accountants |
|
Address : |
Tower 3, 31st
Floor, India Bulls Finance Centre, Elphinston Mill Compound, Senapati Bapat,
Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India |
|
PAN
No. : |
AACFD4815A |
|
|
|
|
Associates/Subsidiaries : |
·
Hostmann Steinberg INC, United States ·
Hostmann Steinberg Australia Pty Limited,
Australia ·
Hostmann Steinberg New Zealand Limited, New Zealand ·
PT Huber Inks Indonesia, Indonesia |
CAPITAL STRUCTURE
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.10000/- each |
Rs. 300.000 Millions |
|
5500000 |
Preference shares |
Rs.100/- each |
Rs. 550.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.850.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24873 |
Equity Shares |
Rs.10000/- each |
Rs.248.730 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
248.730 |
248.721 |
|
(b) Reserves & Surplus |
|
8855.053 |
7767.099 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
9103.783 |
8015.820 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
916.300 |
885.167 |
|
(b) Deferred tax liabilities (Net) |
|
364.308 |
334.630 |
|
(c) Other long term liabilities |
|
231.433 |
197.276 |
|
(d) long-term provisions |
|
115.474 |
169.841 |
|
Total Non-current Liabilities (3) |
|
1627.515 |
1586.914 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1030.544 |
1726.075 |
|
(b) Trade payables |
|
3028.034 |
2317.893 |
|
(c) Other current
liabilities |
|
638.850 |
823.924 |
|
(d) Short-term provisions |
|
262.835 |
210.572 |
|
Total Current Liabilities (4) |
|
4960.263 |
5078.464 |
|
|
|
|
|
|
TOTAL |
|
15691.561 |
14681.198 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4038.986 |
3139.590 |
|
(ii) Intangible Assets |
|
14.967 |
17.347 |
|
(iii) Capital
work-in-progress |
|
50.994 |
447.760 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2037.780 |
1807.085 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
444.657 |
287.403 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
6587.384 |
5699.185 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
150.146 |
|
(b) Inventories |
|
2643.124 |
2675.963 |
|
(c) Trade receivables |
|
5858.133 |
5162.170 |
|
(d) Cash and cash
equivalents |
|
77.835 |
434.320 |
|
(e) Short-term loans and
advances |
|
391.461 |
393.013 |
|
(f) Other current assets |
|
133.624 |
166.401 |
|
Total Current Assets |
|
9104.177 |
8982.013 |
|
|
|
|
|
|
TOTAL |
|
15691.561 |
14681.198 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
248.719 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
6572.706 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
6821.425 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2037.611 |
|
|
2] Unsecured Loans |
|
|
357.680 |
|
|
TOTAL BORROWING |
|
|
2395.291 |
|
|
DEFERRED TAX LIABILITIES |
|
|
348.857 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9565.573 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3215.803 |
|
|
Capital work-in-progress |
|
|
78.658 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1812.102 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2958.649 |
|
|
Sundry Debtors |
|
|
3659.162 |
|
|
Cash & Bank Balances |
|
|
366.657 |
|
|
Other Current Assets |
|
|
86.811 |
|
|
Loans & Advances |
|
|
467.517 |
|
Total
Current Assets |
|
|
7538.796 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2257.433 |
|
|
Other Current Liabilities |
|
|
568.093 |
|
|
Provisions |
|
|
254.260 |
|
Total
Current Liabilities |
|
|
3079.786 |
|
|
Net Current Assets |
|
|
4459.010 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9565.573 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21519.622 |
20504.293 |
17296.951 |
|
|
|
Other Income |
27.016 |
502.049 |
44.291 |
|
|
|
TOTAL (A) |
21546.638 |
21006.342 |
17341.242 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
15387.780 |
14535.111 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(120.995) |
132.701 |
|
|
|
|
Employee benefit expense |
612.783 |
548.443 |
|
|
|
|
Other expenses |
3178.688 |
2789.523 |
|
|
|
|
TOTAL (B) |
19058.256 |
18005.778 |
14875.533 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
2488.382 |
3000.564 |
2465.709 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
234.061 |
627.655 |
90.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2254.321 |
2372.909 |
2375.682 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
371.708 |
366.363 |
373.009 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1882.613 |
2006.546 |
2002.673 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
622.379 |
638.162 |
584.278 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1260.234 |
1368.384 |
1418.395 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3804.500 |
2760.130 |
2015.170 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
150.000 |
150.000 |
500.000 |
|
|
|
Dividend |
149.240 |
149.230 |
149.230 |
|
|
|
Tax on Dividend |
24.210 |
24.790 |
24.210 |
|
|
BALANCE CARRIED
TO THE B/S |
4741.860 |
3804.500 |
2760.130 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
50667.43 |
55017.04 |
57.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.012.2010 |
|
PAT / Total Income |
(%) |
5.85
|
6.51 |
8.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.75
|
9.78 |
11.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.84
|
16.15 |
18.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.25 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.21
|
0.33 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83
|
1.77 |
2.45 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.12.2012 (Rs.
In Millions) |
31.12.2011 (Rs.
In Millions) |
31.12.2010 (Rs.
In Millions) |
|
Current maturities of long term debts |
550.183 |
694.639 |
NA |
|
|
|
|
|
|
Total |
550.183
|
694.639 |
NA |
|
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 |
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF
GUJARAT TAX APPEAL No. 2023 of
2010 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Status: PENDING (Converted from :
ST/2336/2010 ) CCIN No: 001092201002023 Last Listing Date: 03.12.2013 ·
Coram: - HONOURABLE MR.JUSTICE M.R. SHAH ·
HONOURABLE MR.JUSTICE R.P.DHOLARIA |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
S.NO. |
Name of the
Petitioner |
Advocate On Record |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1 |
COMMISSIONER OF INCOME TAX |
MR SUDHIR M MEHTA for: Appellant(s) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1 |
MICRO INKS LIMITED |
RULE SERVED for :Opponent(s) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Presented On : 13/08/2010
Registered On : 31/01/2013 Bench Category : DIVISION BENCH District : VALSAD Case Originated From: THROUGH ADVOCATE Listed : 135 times Stage Name : FOR FINAL
HEARING
OFFICE OBJECTION
OFFICE DETAILS |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
S. No |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1 |
15/08/2010 |
DOCUMENT |
RULE SERVED |
-- |
RULE SERVED:1 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2 |
20/09/2012 |
APPEARANCE NOTE |
MR SUDHIR M MEHTA ADVOCATE |
-- |
MR SUDHIR M MEHTA:1 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
LINKED MATTERS
COURT
PROCEEDINGS
AVAILABLE ORDERS
CERTIFIED COPY
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNSECURED LOANS
|
PARTICULAR |
31.12.2012 (Rs.
in Millions) |
31.12.2011 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
73.935 |
0.000 |
|
Loans repayable on demand from banks |
133.219 |
1285.262 |
|
Total |
207.154 |
1285.262 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10402321 |
03/04/2013 * |
550,000,000.00 |
The Bank of Nova Scotia Asia Limited |
One Raffles Quay, #20-01 North Tower, Singapore, |
B73979544 |
|
2 |
10397775 |
03/04/2013 * |
500,000,000.00 |
The Bank of Nova Scotia |
Mittal Tower, "B" Wing,, Nariman Point, Mumbai, Maharashtra
- 400021, INDIA |
B74023763 |
|
3 |
10319236 |
03/04/2013 * |
450,000,000.00 |
DBS Bank Limited |
Upper Ground Floor, Birla Road,, 25 Barakhamba Ro |
B74024357 |
|
4 |
10285710 |
03/04/2013 * |
920,000,000.00 |
Australia and New Zealand Banking Group Limited |
10 Collyer Quay, #18-00 Ocean Financial Centre, Singapore, - 049315,
SINGAPORE |
B73469496 |
|
5 |
10106131 |
03/04/2013 * |
1,000,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limi |
52/60, M. G. Road,, Fort, Mumbai, Maharashtra - 4 |
B73979023 |
|
6 |
80012233 |
03/04/2013 * |
2,150,000,000.00 |
State Bank of India |
3rd Floor, State Bank Bhavan, Madam Kama Road, Nariman Point, Mumbai,
Maharashtra - 400021, INDIA |
B73241507 |
|
7 |
80012217 |
03/04/2013 * |
1,750,000,000.00 |
ICICI Bank Limited |
Landmark, Race Course Circle,, Alkapuri, Baroda, |
B73084725 |
|
8 |
80012219 |
04/06/2011 * |
1,800,000,000.00 |
STANDARD CHARTERED BANK |
90, M. G. ROAD, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B15306137 |
|
9 |
90103243 |
19/05/2011 * |
350,000,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE,
AHMEDABAD, Gujarat - 380006, INDIA |
B13361019 |
* Date of charge modification
OUTLOOK:
During the year,
growth of Indian economy slowed down due to domestic as well as global reasons.
Political uncertainties resulted in lack of clarity on several policy matters
and any new bold economic initiatives. Economic concerns in European Union had
an adverse effect on overall exports. As a result, the GDP came down to nearly
5.5% as against 6.5% during the previous year. Raw material prices continued to
rise, primarily due to exceptionally week rupee. Conventional commercial
printing and the newspaper segments continue to shrink due to emerging digital
technologies and the internet. Under these conditions, the company still
maintained a topline growth both in domestic and export segments, while the
profits were slightly lower against budget and the previous year. The political
uncertainties in India are likely to continue during the current year with
elections expected any time soon. Also, the issues concerning Europe and
digital technologies will continue to remain a challenge. There are signs of
currency rates and commodity prices remaining stable and this may result in
favourable raw material prices.
All the leading
global ink companies see India as a growth market and they are making fresh
investments and creating new capacities. Going forward, we expect competition
to be more intense and this is likely to put further pressure on both top and bottom
line.
However, on the
positive side, Indian economy is still expected to maintain at least its
current growth rate and that should provide growth opportunities to our
business.
FIXED ASSETS
·
Land
·
Factory Building
·
Furniture and Fixtures
·
Motor Vehicles
·
Computer Equipments
·
Other Equipments
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.62.13 |
|
|
1 |
Rs.101.27 |
|
Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.