MIRA INFORM REPORT
|
Report Date : |
2nd May, 2006 |
IDENTIFICATION DETAILS
|
Name : |
K G K INDUSTRIES |
|
|
|
|
Registered Office : |
80
A, SIDCO Industrial Estate, Coimbature-641021, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31-03-2005 |
|
|
|
|
Date of Incorporation : |
1981 |
|
|
|
|
TAN No.: (Tax Deduction &
Collection Account No.) |
CMSK03093G |
|
|
|
|
PAN No.: (Permanent Account No.) |
AACFK3998F |
|
|
|
|
Legal Form : |
A
Sole Proprietorship Concern |
|
|
|
|
Line of Business : |
Manufacturer,
Importer & Exporter of Brake Master Cylinders, Brass Connectors for Brake
Systems of Two Wheelers, Three Wheelers and cars, for OEM applications &
replacement market. Supply of repair kits and loose components are ensured
for effective after sales service |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are
fair. Payments are regular and as per commitments. The concern can be
considered normal for business dealings at usual trade terms and conditions |
LOCATIONS
|
Registered Office/ Head
Office/ Factory : |
80
A, SIDCO Industrial Estate, Coimbature-641021, Tamilnadu |
|
Tel. No.: |
91-422-2675512 |
|
Fax No.: |
91-422-2673754 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
SOLE PROPRIETOR
|
Name : |
Mr.
R Krishnamoorthy |
|
Designation : |
Proprietor
|
KEY EXECUTIVES
|
Name : |
Mr.
Ramesh |
|
Designation : |
Office
Assistant |
|
Mobile No.: |
91-422-267244 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Importer & Exporter of Brake Master Cylinders, Brass Connectors for Brake
Systems of Two Wheelers, Three Wheelers and cars, for OEM applications &
replacement market. Supply of repair kits and loose components are ensured
for effective after sales service |
|
|
|
|
Products : |
Brake
Master Cylinders, Brass Connectors for Brake Systems of Two Wheelers, Three
Wheelers and cars, Repair kits and Loose components |
|
|
|
|
Exports of : |
Brake
Master Cylinders, Brass Connectors for Brake Systems of Two Wheelers, Three
Wheelers and cars, Repair kits and Loose components |
|
|
|
|
Imports of : |
Raw
material Machinery |
|
|
|
GENERAL INFORMATION
|
|
|
|
Customers : |
|
|
No. of Employees : |
Office
– 5, Factory – 30. Total – 35 |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
N.A. |
|
|
|
|
Sister concern : |
|
|
Name : |
United
Enterprise |
|
Address : |
86,
Sidco Industrial Estate, Coimbatore, Tamilnadu-641021, India |
|
Line of business : |
Vale
Assembly and parts and Ferrous / Non-Ferrous Forged components |
|
|
|
|
Name : |
Kinetic
Forge (P) Limited |
|
Address : |
85
B, Sidco Industrial Estate, Coimbatore, Tamilnadu-641021, India |
|
Line of business : |
Non-Ferrous
Forged components |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.
5.000 million |
|
Borrowed : |
- |
|
Total : |
Rs.
5.000 million |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2005 |
|
Sales Turnover |
|
|
150.000 |
|
|
|
|
|
LOCAL AGENCY FURTHER INFORMATION
Founded in 1981, with the aim of providing quality components for a wide
array of industrial needs, the KGK Industries has today become to be
recognised as one of the leaders in manufacturing precision components for the
automotive industries, apart from others.
At the helm of affairs is Mr.R.Krishnamoorthy, a Mechanical engineer
holding BE (Hons) with over 2 decades of rich experience in Product
development. He is ably supported by a highly skilled Engineers and work force
that constantly strives to surpass existing quality standards and deliver
beyond custmer expectations.
At KGK Industries, quality norms compare to international standards. It
is an ISO 9002 certified company and endorses the quality management system as
specified by BVQI.
With excellent manufacturing facilities available both in machining and
forging,the unit could get the registration with the Director General Of Quality Assurance (Vehicles), Ministry of
Defence,
New Delhi. The unit has successfully executed Defence orders worth over 3
crores, most of which are import substitutes in nature
Founded in 1981, with the aim of providing quality components for a wide
array of industrial needs, the KGK Industries has today become to be
recognised as one of the leaders in manufacturing precision components for the
automotive industries, apart from others.
At the helm of affairs is Mr.R.Krishnamoorthy, a Mechanical engineer
holding BE (Hons) with over 2 decades of rich experience in Product development.
He is ably supported by a highly skilled Engineers and work force that
constantly strives to surpass existing quality standards and deliver beyond
custmer expectations.
At KGK Industries, quality norms compare to
international standards. It is an ISO 9002 certified company and endorses the
quality management system as specified by BVQI.
With excellent manufacturing facilities
available both in machining and forging, the unit could get the registration
with the Director General Of Quality Assurance (Vehicles), Ministry of Defence,
New Delhi. The unit has successfully executed Defence orders worth over 3
crores, most of which are import substitutes in nature.
Brake
Parts
The
company manufactures Brake Master Cylinders, Wheel Cylinders, Brass Connectors
for Brake Systems of Two Wheelers, Three Wheelers and Cars, for OEM
applications & replacement market. Supply of Repair kits and loose
components are ensured for effective after sales service.
Valves And Critical
components of Defence Vehicles
The unit supplies High Pressure Valve Assemblies and critical components to various Defence Vehicles including Jeeps, Trucks & Tanks. Most of them have critical functions and import substitutes in nature.
Syncronizer Rings / Cones
The
unit is OEM supplier of this item for Jeeps and Cars. Manufacturing of these
are very critical which involves high Precision forgings of special materials
such as Manganese Bronze, Bohn Alloy and accurate CNC Machining.
Forged and Machined
Components
The
unit manufactures Precision Machined components using CNC machines for various
applications such as Automotive, Pumps, Valve,Textile Machinery. The material
of construction includes, Brass, Bronze, Aluminium, Carbon steel, Alloy Steel
and Stainless Steel to IS, BS,DIN,JIS and ASTM standards.
Cabin Lifting Pump &
Ram
These
are used to lift Commercial Vehicle Cabin during Servicing and Maintenance of
Engine. These will become standard accessories in vehicles with sleeper cabin.
The
unit manufactures Precision Close die forged components made out of Brass,
Copper, Aluminium and its Alloys for various applications such as Automotive,
Pumps, Valves, Switch Gear and Textile Machinery etc. These are preferred over
cast components due to its high strength, smooth surface finish and minimum
machining Range 25 gm to 3 Kgs.
Non-Ferrous Forged
Components
Ferrous Forged Components
The
unit manufactures Precision Ferrous Forging weighing upto 1 KG using Presses.
Unlike hammer forging, these are with better surface finish, minimum-machining
allowance. The material of construction includes Carbon steel, Alloy Steel
& Stainless Steel to IS, BS, DIN, JIS and ASTM standards.
Parts of Valves
The
unit also manufactures forged and machined valve parts made out of Brass,
Bronze, Carbon steel, Alloy steel & Stainless steel & supply to leading
valve manufactures in India and abroad.
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records 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.45.30 |
|
UK
Pound |
1 |
Rs.78.45 |
|
Euro |
1 |
Rs.54.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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
|
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |