|
Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHECKPOINT SYSTEMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303, C-Wing, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2008 |
|
|
|
|
Date of
Incorporation : |
21.09.2005 |
|
|
|
|
Com. Reg. No.: |
11-156375 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.36.516 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH2005PTC156375 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13757C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC6709P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Exporter and Importer of Security Systems and Devices. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management of the company has not filed its financials with the
government department after the year 2009. Mr. Mahesh Singhal finance manager provided us all the information and
also provided the turnover figure for the year 2011, 2012 and 2013. However,
the financials are not verified. Business is active. Payment terms are
unknown. The company can be considered for business dealings on a secured 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) |
|
|
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
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic product.
High imports of gold and oil led to a worsening of the trade deficit, resulting
in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in
the corresponding quarter of the previous financial year. The government aims
to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2
billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in April-August
this year to 2.3 % compared with 6.3 % in the corresponding period next
financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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. Mahesh Singhal |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-42559700 |
|
Date : |
28.10.2013 |
LOCATIONS
|
Registered Office : |
303, C-Wing, Pramukh Plaza, Cardinnal Garcious Road, Chakala, Andheri
(East), Mumbai – 400 093, Maharashtra |
|
Tel. No.: |
91-22-42559700 |
|
Fax No.: |
91-22-42559797 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
Located At : ·
Gurgaon ·
|
DIRECTORS
AS ON 30.09.2009
|
Name : |
Mr. Dharmesh Jagdish Lamba |
|
Designation : |
Director |
|
Address : |
193/5, Nishi Niwas, Saeed Bhagat Singh Colony, J. B. Nagar, Andheri
(East), Mumbai – 400 059, Maharashtra, India |
|
Date of Birth/Age : |
05.08.1968 |
|
Date of Appointment : |
27.09.2005 |
|
DIN No.: |
00764431 |
|
|
|
|
Name : |
Mr. Riccardo Giuseppe Maria Muttoni |
|
Designation : |
Director |
|
Address : |
37 C, Tavistock II, 10A, Tregunter Path, Midlevels, Hongkong, Sar,
India |
|
Date of Birth/Age : |
28.04.1956 |
|
Date of Appointment : |
10.05.2006 |
|
DIN No.: |
01670240 |
|
|
|
|
Name : |
Mr. Che Lop Paul Chu |
|
Designation : |
Director |
|
Address : |
FT B 12/F, Sky Scaper, 134 Tin Hau Temple Road, North Point, Hong Kong |
|
Date of Birth/Age : |
19.04.1953 |
|
Date of Appointment : |
11.02.2010 |
|
DIN No.: |
02995118 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh Singhal |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Checkpoint Holland Holding, Nieuwegein |
|
3615084 |
|
Checkpoint Meto Benelux, Nieuwegein |
|
36516 |
|
|
|
|
|
Total |
|
3651600 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2009
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Security Systems and Devices. |
|
|
|
|
Products and Services : |
·
Hand Labeling Guns ·
Price Cassettes ·
Shelf Strips ·
Rolling Shopping Basket |
|
|
|
|
Exports : |
|
|
Products : |
Security System |
|
Countries : |
·
Spain ·
Japan |
|
|
|
|
Imports : |
|
|
Products : |
Security System |
|
Countries : |
·
China ·
Hongkong |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users ·
Aditya Birla Nuvo Limited ·
Ample Technologies (P) Limited ·
Amram Trading Private Limited ·
Aroma Associates ·
Arvind Fashions Limited ·
Arvind Mills Limited ·
The Arvind Mills Limited ·
Club Clothing Company ·
Banswara Garments |
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
HSBC Bank Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
R. G. Jain and Company Chartered Accountants |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Bhoppendar Maheshwari and Company Chartered Accountants |
|
Address : |
A/402, Deepkiran Apartment, Thanekar Wadi, Thane – 400 0603,
Maharashtra, India |
|
PAN No : |
ABVPM8065H |
CAPITAL STRUCTURE
AS ON 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3651600 |
Equity Shares |
Rs. 10/- each |
Rs.36.516 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
36.520 |
20.143 |
11.219 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.280 |
2.536 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
43.800 |
22.679 |
11.219 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
0TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.016 |
|
|
|
|
|
|
|
|
TOTAL |
43.800 |
22.679 |
11.235 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.590 |
0.431 |
0.383 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
32.529
|
16.709 |
3.929 |
|
|
Cash & Bank Balances |
16.314
|
8.219 |
5.444 |
|
|
Other Current Assets |
23.489
|
16.753 |
2.358 |
|
|
Loans & Advances |
2.412
|
1.867 |
0.757 |
|
Total
Current Assets |
74.744
|
43.548 |
12.488 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
32.452
|
22.532 |
0.158 |
|
|
Other Current Liabilities |
0.501
|
0.453 |
0.495 |
|
|
Provisions |
2.700
|
0.000 |
3.975 |
|
Total
Current Liabilities |
35.653
|
22.985 |
4.628 |
|
|
Net Current Assets |
39.091
|
20.563 |
7.860 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.119 |
1.685 |
2.992 |
|
|
|
|
|
|
|
|
TOTAL |
43.800 |
22.679 |
11.235 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
92.150 |
68.264 |
|
|
|
|
Other Income (Foreign Exchange Difference) |
(0.711) |
0.316 |
|
|
|
|
TOTAL |
91.439 |
68.580 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
47.915 |
40.010 |
|
|
|
|
Direct Expenses |
3.357 |
0.000 |
|
|
|
|
Administrative Expenses |
30.895 |
22.744 |
|
|
|
|
Deferred Revenue Expenditure W/off |
0.560 |
0.560 |
|
|
|
|
TOTAL |
82.727 |
63.314 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
8.712 |
5.266 |
|
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.930 |
0.103 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
7.782 |
5.163 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.038 |
1.875 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
4.744 |
3.228 |
NA |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.536 |
(0.783) |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.280 |
2.445 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.30 |
NA |
NA |
|
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
230.000 |
200.000 |
180.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs. 260.000 Millions
The above information has been parted by Mr. Mahesh Singhal (Finance
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
5.19
|
4.71 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.44
|
7.56 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.93
|
11.74 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.23 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10
|
1.89 |
2.70 |
LOCAL AGENCY FURTHER INFORMATION
|
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
five years |
Yes |
|
12] |
Profitability for last
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
No |
|
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: Registered office
address of the company has been shifted from 201-A Wing, Polaris, Off Marol
Maroshi Road, Marol, Andheri (East), Mumbai – 400 059, Maharashtra, India to
the present address w.e.f. 24.05.2010
NOTE: No Charges Exist
for Company.
FIXED ASSETS:
·
Computers
·
Furniture and Fixtures
·
Office Equipments
·
Telephone
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.61.46 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
2 |
|
--BUSINESS SCALE |
1~10 |
|
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
18 |
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.