%20LIMITED%20-%20285015%2012-Sep-2014_files/image009.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAKATA INX ( |
|
|
|
|
Formerly Known
As : |
MONTARI INKS LIMITED |
|
|
|
|
Registered
Office : |
B-1245-46, RIICO Industrial Area, Ghatal, Bhiwadi – 301019, Rajasthan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.05.1994 |
|
|
|
|
Com. Reg. No.: |
17-008294 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 583.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24117RJ1994PLC008294 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRS04836G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS4797D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of packaging and printing inks
and polyurethane resins. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5670000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects company’s healthy financial risk profile marked by
decent liquidity position and fair profitability levels of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the
political and economic development in the dragon economy and has figured out
something that is quite worrying. He is of the view that the Chinese economy
could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes that many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed
that asset classes like real estate and equities were the biggest beneficiaries
of the liberalization policies. A firm called Ciane
Analytics studied returns from assets including equities, gold, fixed deposits,
G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17
crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-124-4803300)
LOCATIONS
|
Registered Office/ Factory 1: |
B – 1245-46, RIICO Industrial Area, Bhilwadi
– 301019, |
|
Tel. No.: |
91-1493-222908/ 222909/ 2224899 / 515900/ 222309 |
|
Fax No.: |
91-1493-223308/ 301019 / 515909 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
20 acre |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
U-2, Panoli Industrial Estate District Bharuch Panoli - 394116,
Gujarat |
|
Tel No.: |
91-2646-272970-73, |
|
Fax: |
91-2646-272115 |
|
E-mail: |
|
|
|
|
|
Corporate Office: |
D-17, Infocity II, Sector – 33, Gurgaon – 122001, |
|
Tel No.: |
91-124-4803300/ 2372008/ 4803315 |
|
Fax: |
91-124-2372009/ 4803355 |
|
E-mail: |
|
|
|
|
|
Mumbai Office : |
Dani Corporate Park, 158, |
|
Tel No.: |
91-22-26525170/ 26526772/ 26528013 |
|
Fax: |
91-22-26542044 |
|
Email : |
|
|
|
|
|
|
608, Ashoka Bhoopal
Chambers, Sardar Patel Road, Secunderabad
– 500003, India |
|
Tel No.: |
91-40-27846016/ 27846017 |
|
Fax: |
91-40-27846017 |
|
Email : |
DIRECTORS
As on 22.04.2014
|
Name : |
Mr. Vijay Kumar Seth |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
E-46, South City -1, Gurgaon – 122001, Haryana, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.10.1953 |
||||||||||||||||||||||||||||||||||||
|
Qualification: |
BSC, Graduate and Engineer |
||||||||||||||||||||||||||||||||||||
|
Experience: |
35 Years |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2012 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAAPS1202Q |
||||||||||||||||||||||||||||||||||||
|
Voter ID No: |
DL-02-006-198387 |
||||||||||||||||||||||||||||||||||||
|
DIN No: |
00685877 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Amrit Lal Garg |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
House No. 417, Sector 28, Faridabad -
121008, Haryana, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.14.1952 |
||||||||||||||||||||||||||||||||||||
|
Qualification: |
BSC, Chemical Engineer |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.11.2011 |
||||||||||||||||||||||||||||||||||||
|
DIN No: |
00152990 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kotaro Morita |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
324, Vinigs Drive, Bloomingdale, United
States of America |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.10.1955 |
||||||||||||||||||||||||||||||||||||
|
Qualification: |
PHD |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.08.2009 |
||||||||||||||||||||||||||||||||||||
|
DIN No: |
02719110 |
||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Swati Jindal |
|
Designation : |
Secretary |
|
Address : |
H. No. 566-23, Sulekh Ram Street, Samrala Road, Khanna, Ludhiana – 141401, Punjab, India |
|
Date of Birth/Age : |
02.07.1988 |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
ALRPJ9464H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.04.2014
|
Names of Shareholders |
No. of Shares |
|
Sunil Kumar Chhabra |
100 |
|
Sushil Gupta |
100 |
|
Harish Chaunwal |
100 |
|
Mukesh Tarani |
100 |
|
Sakata Inx Corporation, Japan |
58299300 |
|
Vijay Kumar Seth |
100 |
|
Raakesh Datta |
100 |
|
Ranbir Singh Panesar |
100 |
|
Total |
58300000 |
As on 22.04.2014
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 |
100.00 |
|
Total |
100.00 |
%20LIMITED%20-%20285015%2012-Sep-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of packaging and printing inks
and polyurethane resins. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· U.F.C. Bank Limited, Upper Ground Floor, Mercantile House; 15; K.G. Marg, New Delhi, India Bank of Tokyo – Mitsubishi, 3; Parliament Street, New
Delhi, India Standard Chartered Bank, Sansad Marg, New Delhi, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company L.L.P. Chartered Accountants |
|
Address : |
Golf View, Corporate Tower B, Sector 42, Sector Road, Gurgaon, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Holding company : |
Sakata Inx Corporation, Japan |
|
|
|
|
Fellow Subsidiary
Company : |
· CDI Sakata Inx Corp. Inx International Company Inx International Company Maoming Sakata
Inx Pt. Sakata Inx Indonesia Sakata Inx Malaysia Sakata Inx Shangai Sakata Inx Vietnam |
CAPITAL STRUCTURE
As on 22.04.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Share |
Rs.10/- each |
Rs.600.000 Millions |
|
100000 |
Preference Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 610.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58300000 |
Equity Share |
Rs.10/- each |
Rs. 583.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
583.000 |
583.000 |
583.000 |
|
(b) Reserves & Surplus |
834.564 |
659.490 |
542.559 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1417.564 |
1242.490 |
1125.559 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
300.500 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
300.500 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
136.932 |
203.023 |
308.947 |
|
(b) Trade payables |
376.494 |
286.876 |
201.447 |
|
(c) Other current
liabilities |
144.591 |
100.475 |
64.880 |
|
(d) Short-term provisions |
42.646 |
27.350 |
27.718 |
|
Total Current Liabilities (4) |
700.663 |
617.724 |
602.992 |
|
|
|
|
|
|
TOTAL |
2418.727 |
1860.214 |
1728.551 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
695.245 |
467.647 |
470.917 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
27.432 |
40.901 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
10.099 |
11.981 |
5.418 |
|
(d) Long-term Loan and Advances |
32.250 |
27.687 |
12.961 |
|
(e) Other Non-current assets |
7.943 |
0.000 |
0.000 |
|
Total Non-Current Assets |
745.537 |
534.747 |
530.197 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
536.538 |
385.232 |
327.557 |
|
(c) Trade receivables |
958.844 |
863.476 |
722.269 |
|
(d) Cash and cash
equivalents |
82.491 |
30.924 |
38.091 |
|
(e) Short-term loans and
advances |
91.857 |
43.414 |
100.392 |
|
(f) Other current assets |
3.460 |
2.421 |
10.045 |
|
Total Current Assets |
1673.190 |
1325.467 |
1198.354 |
|
|
|
|
|
|
TOTAL |
2418.727 |
1860.214 |
1728.551 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3958.897 |
3453.565 |
3077.649 |
|
|
|
Other Income |
23.762 |
23.907 |
4.331 |
|
|
|
TOTAL (A) |
3982.659 |
3477.472 |
3081.980 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3041.736 |
2670.388 |
2339.311 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(65.257) |
(41.475) |
(17.017) |
|
|
|
Employees benefits expense |
266.797 |
230.289 |
198.306 |
|
|
|
Other expenses |
408.828 |
357.725 |
298.208 |
|
|
|
TOTAL (B) |
3652.104 |
3216.927 |
2818.808 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
330.555 |
260.545 |
263.172 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
26.612 |
26.019 |
17.317 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
303.943 |
234.526 |
245.855 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
63.680 |
67.420 |
66.799 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
240.263 |
167.106 |
179.056 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
77.590 |
50.176 |
55.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
162.673 |
116.930 |
123.192 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
576.057 |
452.661 |
431.297 |
|
|
TOTAL EARNINGS |
576.057 |
452.661 |
431.297 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw material and packing materials |
972.954 |
881.825 |
827.154 |
|
|
|
Spares and components |
3.838 |
5.814 |
1.580 |
|
|
|
Capital goods |
74.745 |
6.821 |
11.533 |
|
|
TOTAL IMPORTS |
1051.537 |
894.460 |
840.267 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.79 |
2.01 |
2.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
4.08 |
3.36 |
4.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.07 |
4.84 |
5.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.98 |
9.18 |
10.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.13 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.31 |
0.16 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39 |
2.15 |
1.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
583.000 |
583.000 |
583.000 |
|
Reserves & Surplus |
542.559 |
659.490 |
834.564 |
|
Net
worth |
1125.559 |
1242.490 |
1417.564 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
300.500 |
|
Short term borrowings |
308.947 |
203.023 |
136.932 |
|
Total
borrowings |
308.947 |
203.023 |
437.432 |
|
Debt/Equity
ratio |
0.274 |
0.163 |
0.309 |
%20LIMITED%20-%20285015%2012-Sep-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3077.649 |
3453.565 |
3958.897 |
|
|
|
12.214 |
14.632 |
%20LIMITED%20-%20285015%2012-Sep-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3077.649 |
3453.565 |
3958.897 |
|
Profit |
123.192 |
116.930 |
162.673 |
|
|
4.00% |
3.39% |
4.11% |
%20LIMITED%20-%20285015%2012-Sep-2014_files/image008.gif)
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
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 |
10015159 |
25/08/2006 |
100,000,000.00 |
THE BANK OF NOVA SCOTIA |
DR. GOPAL DAS BHAWAN, 28 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
A03483054 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs. In Millions) |
31.03.2013 (Rs. In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
300.500 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
116.932 |
181.469 |
|
Total |
417.432 |
181.469 |
CORPORATE INFORMATION
Sakata Inx (India) Limited is a 100% subsidiary of Sakata Inx Corporation, Japan and is engaged in the business of manufacturing and selling of packaging and printing inks and polyurethane resins.
OPERATIONS FOR THE
YEAR
During the year, the company has posted an impressive growth of 14% in sales value. The company has produced 20535 tons (Last year 18183 tons) and sold 20253 tons (Last year 17931 tons) of printing inks. During the year, companys margin was under pressure due to increase in prices of key raw materials.
EXPORTS
During the year, company has done export of 579 Mn (Last year 457 Mn) and recorded an increase of 26.70%. Company continues to strengthen its presence in various overseas markets.
OUTLOOK FOR THE
CURRENT YEAR
The company is optimistic about the future and it plans to increase its presence geographically both in domestic and overseas markets. Further with the new plant in western India, company expects logistic benefits and synergy to companys growth plan.
CONTINGENT LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs. In Millions) |
31.03.2013 (Rs. In Millions) |
|
(i) Income tax Disallowances and addition to taxable income under Income Tax Act in respect:- |
|
|
|
Assessment year 2005-06 |
2.658 |
2.658 |
|
Assessment year 2006-07 |
4.685 |
4.685 |
|
Assessment year 2007-08 |
13.607 |
13.607 |
|
Assessment year 2008-09 |
8.557 |
8.557 |
|
Assessment year 2009-10 |
8.779 |
8.779 |
|
Assessment year 2010-11 |
8.586 |
0.000 |
|
|
|
|
|
(ii) Excise duty Show cause notices/ demands issued by excise authorities on various matters, against which the Company has filed replies or in process of that or against the demands the Company has gone on appeal. |
0.783 |
5.021 |
|
|
|
|
|
(ii) Custom duty Show cause notices/ demands issued by custom authorities, against which the Company has deposited the duty and in process of filing replies of that. |
0.158 |
0.158 |
|
|
|
|
|
(iii) Entry tax Demand of Entry Tax by the authorities in respect of financial year 2007-08 and 2008-09 for chargeability of entry tax on purchase of various items in the state of Rajasthan, against which the appeal is pending with Supreme Court of India. |
3.032 |
9.310 |
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
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 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.60.83 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.