|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIGITRON PRINTS AND PACKAGE |
|
|
|
|
Registered
Office : |
Bala Prabha Villa, 182 Strahans Road, Pattalam, Chennai – 600012, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of
Establishment : |
2000 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
TIN No.: |
33351062340 |
|
|
|
|
PAN No.: [Permanent Account No.] |
ADHPJ4322Q |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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|
|
|
Line of Business
: |
Service Provider for Pre Press and Printing Works. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track record. Trade relations are reported as fair. Business is active. Payment terms
are reported to be usually correct and as per commitment. The concern can be considered normal 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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. Balaji |
|
Designation : |
Office Executive |
|
Contact No.: |
91-44-43599484 |
|
Date : |
16.04.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Bala Prabha Villa, 182 Strahans Road, Pattalam, Chennai –
600012, Tamilnadu, India |
|
Tel. No.: |
91-44-43599484/ 26620720 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
PARTNERS
|
Name : |
Mr. P B Jayendran |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. S Sathya Narayanan |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Balaji |
|
Designation : |
Office Executive |
BUSINESS DETAILS
|
Line of Business : |
Service Provider for Pre Press and Printing Works. |
|
|
|
|
Exports : |
|
|
Products : |
Printing Machinery |
|
|
|
|
Imports : |
|
|
Products : |
Printing Machinery |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users · GRT Grand · India Post · Axis Bank · Reebonn · Forever · BSNL · Noni · Jamaai · Oliver Pens · Care · RMP |
|
|
|
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
· ICICI Bank Limited, Chennai - 600012, Tamilnadu, India ·
State Bank of India, Chennai 600012, ,
Tamilnadu, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
|
|
|
|
|
The above information has been parted by Mr. Balaji
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
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 |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one year |
Yes |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
No |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
Status of the
industry
The Indian Printing Industry now comprises of 1,37,280 small, medium and large printing presses spread all over the country, involving a gross investment of about RS 80,000 million. This industry provides direct employment to over 0.6 million people and indirect employment to another 0.3 million. It is natural that alongside the growth of literacy, there is a commensurate rise in demand for various inputs for the printing industry.
On the technological front, much development has taken place in printing industry in post independence India. Entire pre press industry has transformed from conventional pre press to computerized digital pre press along with advertisements in digital printing. Now post press and packaging is entering into hi-tech. All this development has brought multinational corporations offering their services and products to the Indian subcontinent. Today with Indian printers embracing high technology, printing industry is at par with international quality. This in turn has opened an immense potential for export of print products. Though India is the second most populated country in the world and literacy rate is constantly going up, there is tremendous demand for printing material. However, the printing output still stands at US$ 4 per capita compared with US$ 440 in Japan, US$ 290 in USA, US$ 290 in Germany, US$ 215 in Hong Kong, US$ 215 in Singapore etc. The per capita paper consumption in India is about 4 kg only as compared to other Asian countries covering 18 kg. and USA covers 318 kg.
Exports out of India
About three decades back India was mainly depending upon the import of not only printing machinery and equipment but also the basic raw materials like good quality of paper and other consumables. Today the scenario has altogether changed. India is participating in a very large scale in the export of printing machines from South East Asian countries in addition to its own domestic consumption. Starting from the exports of processed text material for the production of textbooks to the export of multi color printing material, commercial and security items. The main reason for this export has been the availability of skilled manpower available in the country. In some of the cases, India are still using the imported equipments and consumables but their own indigenous production is also sharing in the production of export print materials. They are exporting single color, double color, four color sheet fed, offset printing machines and newspaper rotaries to the developing as well as developed countries across the globe. Some of the leaders are Hindustan Machine Tools, Manugraphics, J. Mhabir and Company, Auto print etc. They are also exporting the basic raw material like printing in offset plates, consumables and other inputs required on the printing machine. They have trained manpower in a limited scale in the field of printing technology and printing machine manufacturing, but there is lot of scope and potential for exports provided they manage this in a planned manner. The export of print material is being done a large scale by printers like Thomson Press, Tata Press and other big publishers in the country. Export of printing machines, pre press equipment and published items are being made to USA, CIS, African and Asian countries like Sri Lanka, Bangladesh, and Nepal etc. Indian exports of printing material in 1999-2000 were RS 2600 million as compared to RS 2234.20 million in 1998-99.
As far as printing machines are concerned, manugraphics machines are being manufactured in collaboration with Germany and dominant sheet offset machines are in collaboration with Czechoslovakia. Market size of printing machinery segment of the industry is around RS 2800 million. Printing machinery exports were higher at Rs.917.0 million in year 1999-2000 as compared to RS 837.0 million in 1998-99 while imports declined to RS 1723 million in 1999-2000 as compared to Rs.2602 million in 1998-99.
India is working hard for the manufacturing of good quality art and quoted papers required for high quality multi color printing. For all their export works of multi color printing, they are almost depending upon the imported papers and to some extend on good quality printing inks. Ink and paper are being imported from Japan, Singapore, U.K. and Scandinavian countries. They hope to manufacture these basic raw materials to the international standards in due course of time by having collaboration with foreign manufactures.
Re-export of
machinery imported
There is a big market for machinery that has been imported from Malaysia, Korea and China which is being re-exported to many countries. The market for this is growing by the day and Chennai being a port of entry for such machinery has any number of firms dealing in this business.
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 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.58.57 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
NO |
|
--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 |
|
45 |
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.