MIRA
INFORM REPORT
|
Report Date : |
25th
May, 2006. |
IDENTIFICATION
DETAILS
|
Name : |
KAPILA
KNIT FABRICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
R. No.
I ,Manhar Building 66/172 Dadysheth Agiary Lane, Mumbai – 400 002,
Maharashtra, India. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
04.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-146748 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U5149MH2004PTC146748 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK13936G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCK3881C |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing
and Trading of All types of Clothes |
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
50000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established and reputed company having satisfactory track. Trade
relations are fair. Financial Position is good. Payments are correct and as
per commitments. The
company can be considered good for normal business dealings at usual trade
terms and conditions. It can
be regarded as a promising business partner in a medium to long run. |
LOCATIONS
|
Registered Office : |
R. No.
I ,Manhar Building 66/172 Dadysheth Agiary Lane, Mumbai – 400 002,
Maharashtra, India. |
|
Tel. No.: |
91-22-56332615 |
|
|
|
|
Factory
: |
B
XXXII, E / 10/ 10699,Nehru Vihar, Karawara Site, G .T. Road, Ludhiana, India. |
|
Tel.
No.: |
91-0161-2781748 |
|
E-Mail
: |
|
|
Area : |
36000
sq. ft. |
DIRECTORS
|
Name : |
Mr.
Ashish Rajendra Kapila |
|
Designation : |
Director |
|
Address : |
Flat
No. 1,5-Vijay Niwas, Above Grant Road Post Office,Sleater Road, Grant Road,
Mumbai – 400 007, Maharashtra. |
|
Date of Birth/Age : |
23.02.1969 |
|
Date of Appointment : |
04.06.2004 |
|
|
|
|
Name : |
Mr.
Rajender Kumar Kapila |
|
Designation : |
Director |
|
Address : |
Flat
No. 1,5-Vijay Niwas, Above Grant Road Post Office,Sleater Road, Grant Road,
Mumbai – 400 007, Maharashtra. |
|
Date of Birth/Age : |
15.09.1945 |
|
Date of Appointment : |
04.06.2004 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Ashish
Kapila |
53290 |
|
Rajender
Kumar Kapila |
2410 |
|
Smt.
Kanta Kapila |
1700 |
|
Gagan
Kapila (HUF) |
1400 |
|
Rajender
Kapila (HUF) |
1500 |
|
Ashish
Kapila (HUF) |
1400 |
|
Ashish
Kapila |
38300 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
and Trading of All types of Clothes |
GENERAL
INFORMATION
|
No. of Employees : |
150 |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
State
Bank of Indore |
||||||||||||||
|
|
|
||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
A. J.
Saboo Associates |
|
Qualification: |
Charted
accountant |
|
Address: |
27,Steely
House, Sant Tukoam Road, Masjid (East), Mumbai – 400 009 |
|
Tel. No.: |
91-23437386 |
|
E-Mail : |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 100/- each |
Rs.10.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 100/- each |
Rs.10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.872 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
12.872 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
16.506 |
|
|
2] Unsecured Loans |
|
|
17.820 |
|
|
TOTAL BORROWING |
|
|
34.326 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.392 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
47.590 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
10.954 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
24.245 |
|
|
Sundry Debtors |
|
|
38.020 |
|
|
Cash & Bank Balances |
|
|
2.193 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1.812 |
|
Total Current Assets |
|
|
66.270 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
28.284 |
|
|
Provisions |
|
|
1.350 |
|
Total Current Liabilities |
|
|
29.634 |
|
|
Net Current Assets |
|
|
36.636 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
47.590 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2005 |
|
Sales Turnover [including other income] |
|
|
226.943 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
|
4.615 |
|
Provision
for Taxation |
|
|
1.350 |
|
Profit/(Loss)
After Tax |
|
|
3.265 |
|
|
|
|
|
|
Total
Expenditure |
|
|
222.327 |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2005 |
|
PAT / Total Income |
(%) |
|
|
1.44 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
|
2.03 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
|
5.98 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
|
0.36 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
|
4.97 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
|
2.24 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
The
company had taken over the business of Kapila Knit Fabrics – Proprietary
Concern of director Shri Ashish Kapila during the year under review.
FIXED
ASSETS:
Land,Building, Plant & Machinery, Furniture & Fixture, Office
Equipments, Computers, Vehicles
OPERATIONS:
The Company was incorporated on 04.06.2004. The company had taken over
the business of Kapila Knit Fabrics – Proprietary Concern (Proprietor – Ashis
r. Kapila). Turnover achived by the company during the first year of operation
is Rs. 206.702 Millions
|
Name of the company |
KAPILA KNIT FABRICS PRIVATE LIMITED |
||||||||||||||
|
Presented By |
Jointly by the Company & Bank of Indore |
||||||||||||||
|
1) Date and description of instrument creating the change |
Agreement for Cash Credit Hypothecation of goods Agreement for Cash Credit Hypothecation of Debts and Assets Letter of credit / Gurantee/Bills purchase/ Hypothecation of Agreement. All agreement dated 21.06.2004. Collectively Constitute Single Charge |
||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.000 Millions |
||||||||||||||
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The whole of the borrower stock of whet ner raw or in process of manufacturing and all articles manufactured there from which now or hereafter from time/to time during this security shall be brought in to stored or be in or about the borrower godowns or premises and or in transit/ debts etc. or wherever the same may be including on such goods in course of transit or delivery shall be hypothecated to the and its assign by first change as security. For the payment by the borrower to the bank on demandof all moneys at anytime payable by the borrower to the bank in respect of the said Cash Credit account and also as security for the payment and discharge of all indebtness or liabilities of the borrower to the bank in respect of any bills of exchange promissory notes or instruments at any time drawn made accepted or endorsed by the borrower soley or jointly with others which the bank. May discount or become interested in together with all interest discount commission charges costs and expenses payable to or incurred by the Bank in relations there etc. All the borrowers present and future book debts. Outstanding money receivables. Claims bills, contracts, engagemant, securities,investments, rights and assets shall be hypothecated to the Bank and its assignby way of first charge security for the . For the payment by the borrower to the bank on demandof all moneys at anytime payable by the borrower to the bank in respect of the said Cash Credit account and also as security for the payment and discharge of all indebtness or liabilities of the borrower to the bank in respect of any bills of exchange promissory notes or instruments at any time drawn made accepted or endorsed by the borrower soley or jointly with others which the bank. May discount or become interested in together with all interest discount commission charges costs and expenses payable to or incurred by the Bank in relations there to. The whole of the borrower stocks of current assets & other raw materials 7 store whether raw or in process of manufacturing and all articles manufactured there form which now or hereafter from time to time during this security shall be brought in to store or he in or about the borrower godowns or premises or wherever else the same may be . |
||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Details of Credit Facilities:
Interest /commission as per RBI / FEDAI rules Security to cover principal amount together with interest ,costs, charges, expenses etc. |
||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of Indore ,Fort Branch, 214 , D.N. Road, Mumbai – 400 001. |
||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
Hypothecation of Goods Agreement for Cash Credit Hypothecation of Debts and Assets Both agreements dated 15.12.2004. |
||||||||||||||
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
By present modification – overall charge remain at Rs. 11.000 Millions
|
|
Name of the company |
KAPILA KNIT FABRICS PRIVATE LIMITED |
||||||||||||||
|
Presented By |
Jointly by the Company & Bank of Indore |
||||||||||||||
|
1) Date and description of instrument creating the change |
Agreement for Cash Credit Hypothecation of goods Agreement for Cash Credit Hypothecation of Debts and Assets Letter of credit / Gurantee/Bills purchase/ Hypothecation of Agreement. All agreement dated 21.06.2004. Collectively Constitute Single Charge |
||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.000 Millions |
||||||||||||||
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The whole of the borrower stock of whet ner raw or in process of manufacturing and all articles manufactured there from which now or hereafter from time/to time during this security shall be brought in to stored or be in or about the borrower godowns or premises and or in transit/ debts etc. or wherever the same may be including on such goods in course of transit or delivery shall be hypothecated to the and its assign by first change as security. For the payment by the borrower to the bank on demandof all moneys at anytime payable by the borrower to the bank in respect of the said Cash Credit account and also as security for the payment and discharge of all indebtness or liabilities of the borrower to the bank in respect of any bills of exchange promissory notes or instruments at any time drawn made accepted or endorsed by the borrower soley or jointly with others which the bank. May discount or become interested in together with all interest discount commission charges costs and expenses payable to or incurred by the Bank in relations there etc. All the borrowers present and future book debts. Outstanding money receivables. Claims bills, contracts, engagemant, securities,investments, rights and assets shall be hypothecated to the Bank and its assignby way of first charge security for the . For the payment by the borrower to the bank on demandof all moneys at anytime payable by the borrower to the bank in respect of the said Cash Credit account and also as security for the payment and discharge of all indebtness or liabilities of the borrower to the bank in respect of any bills of exchange promissory notes or instruments at any time drawn made accepted or endorsed by the borrower soley or jointly with others which the bank. May discount or become interested in together with all interest discount commission charges costs and expenses payable to or incurred by the Bank in relations there to. The whole of the borrower stocks of current assets & other raw materials 7 store whether raw or in process of manufacturing and all articles manufactured there form which now or hereafter from time to time during this security shall be brought in to store or he in or about the borrower godowns or premises or wherever else the same may be . |
||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Details of Credit Facilities:
Interest /commission as per RBI / FEDAI rules Security to cover principal amount together with interest ,costs, charges, expenses etc. |
||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of Indore ,Fort Branch, 214 , D.N. Road, Mumbai – 400 001. |
||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
||||||||||||||
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
AS PER WEBSITE:
Kapila Knit Fabrics
Pvt. Ltd., India is an Exporter of Knitted fabrics[Velvet] with style
and elegance...
We cater globally to buyers from contrasting
industries such as manufacturers of
Automotive goods, Footwear, Toys, Fashion
Accessories, Sporting goods, Household
& Lifestyle Etc.
We also have a R & D Cell that helps
In-house new developments to cater to the
design needs of Buyers & Buying Houses.
FACTORY PREMISES:
Modern building ,36000 sq ft of built up
area, with complete in-house facilities to
meet the requirement of our buyers. We are
committed to the factory compliance
norms laid by most quality buyers. We take
very serious responsibility to our
customers and affirm our commitment to
ensuring that they have fair and honest
standards which do not compromise either
local labor laws or health and safety of employees.
Infrastructure:
Pailung Circular Knitting machines [5 No.’s]
Sunde Circular Knitting machines [3 No.’s]
Airchina Circular Knitting machines [1 No.]
Factory Address:
BXXXII, E/10/10699, Nehru Vihar, Karawara
Site, G. T. Road, Ludhiana, India.
Tel.: 91-0161-278 1748
Email: factory@kapilaknit.com
PRODUCTS:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Products
Exporters of Knitted
fabrics [Velvet] with style and elegance...
We cater globally to buyers from contrasting
industries such as manufacturers of
Automotive goods, Footwear, Toys, Fashion
Accessories, Sporting goods, Household
& Lifestyle Etc.
We also have a R & D Cell that helps
In-house new developments to cater to the
design needs of Buyers & Buying Houses.
We have been
sub-contracted to develop the top of the line Sportswear / Fashion wear for the
most respected brand names the world over. For the manufacturers of Sportswear
/ Fashion wear, we have cost-effective solutions with custom blends, washes and
colors needed for that competitive edge.
We have several unique
designer fabrics to choose from that will work for any of the interiors of
renowned Automotive brands... We have fabrics with custom blends, washes &
colors to match the high speed & competetive environment of the Automotive
industry.
We are suppliers to
some of the most respected
brand names the world over.
For the manufacturers of Footwear,
We have fabrics with custom blends, washes
&
colors to match the ever changing &
Competitive
fashion environment...
We have several unique
designer fabrics
to choose from that will work for any of
your
popular brands of Toys and Gift Items...
All this, while we continue to maintain
stringent
quality control measures within our
manufacturing process in keeping with the
International quality control standards...
We offer exquisite
fabrics for designer inspired
knockoff handbags and other fashion
accessories to
some of the leading brands the world over...
We also undertake innovative developments to
cater
to the design needs of Buyers & Buying
Houses...
Match Point...
At Kapila Knit we ensure the fabric correctness
in
keeping with the prerequisites of the
leading Brands
/manufacturers of Sporting goods...
Game
Now also showcasing our
diverse range of
breathraking Upholstery like table linen
and bed linen.
Collection of finest materials and creative
designs that would add joy to your
lifestyle...
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.45.85 |
|
UK
Pound |
1 |
Rs.85.82 |
|
Euro |
1 |
Rs.58.62 |
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 |
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 |
NO |
|
--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 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 |
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 |