MIRA
INFORM REPORT
|
Report Date : |
7th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
SHREE
KRISHNA INDUSTRIES |
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Registered Office : |
H – 1/
79-80, Gegal Industrial Area, Ajmer – 305023, Rajasthan, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1997 |
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IEC No.: |
1303014238
w.e.f. 25.02.2003 |
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TIN
No. |
08830004073 |
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Legal Form : |
Partnership
Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers
all kinds of Alloys and Non Alloys Bearing Grade Steel Wires for end use to
Automobile related Industry. |
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 |
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Maximum Credit Limit : |
USD
45000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track records. Trade
relations are fair. General financial position is satisfactory. Payments are
usually correct and as per commitments. The concern can be considered normal
for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
H – 1/
79-80, Gegal Industrial Area, Ajmer – 305 023, Rajasthan, India |
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Tel. No.: |
91-145-2791438/
2791538 |
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Mobile No.: |
91-9829070470,
9829072438, 9829074638, 9928171857 |
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Fax No.: |
91-145-2791638 |
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E-Mail : |
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Website : |
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Area : |
1000
sq. meter and covered 5000 sq. ft. |
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Location : |
Leased
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Factory : |
H – 1/
79-80, Gegal Industrial Area, Ajmer – 305 023, Rajasthan, India |
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Tel. No.: |
91-145-2791438/
2791538 |
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Mobile No.: |
91-9829070470,
9829072438, 9829074638, 9928171857 |
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Fax No.: |
91-145-2791638 |
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E-Mail : |
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Area : |
1000
sq. meter and covered 5000 sq. ft. |
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Location : |
Leased
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Branch
: |
75,
Nagina Bagh, Ajmer – 305 001, Rajasthan, India |
PARTNERS
|
Name : |
Mr.
Prem Niwas Taparia |
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Designation : |
Partner
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Address : |
H. No.
75, 2nd Lane Nagina Bagh, Ajmer – 305 001, Rajasthan, India |
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Date of Birth/Age : |
47
Years |
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Qualification : |
B.
Com. |
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Experience : |
16
Years |
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Name : |
Mr.
Satish Rathi |
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Designation : |
Partner
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Address : |
H. No.
K-44, Shiv Road, Krishna Ganj, Ajmer – 305 006, Rajasthan, India |
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Date of Birth/Age : |
42
Years |
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Qualification : |
B.
Com. |
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Experience : |
10
Years |
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Name : |
Mrs.
Sunita Taparia |
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Designation : |
Partner
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Address : |
H. No.
75, 2nd Lane Nagina Bagh, Ajmer – 305 001, Rajasthan, India |
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Date of Birth/Age : |
36
Years |
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Qualification : |
M. A. |
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Experience : |
7
Years |
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KEY EXECUTIVES
|
Name
: |
Mr.
Satish Rathi |
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Designation
: |
Chief
Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
all kinds of Alloys and Non Alloys Bearing Grade Steel Wires for end use to
Automobile related Industry. |
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Products : |
î
Steel
Wire Rods î
Steel
Balls î
Taper
/ Needles Rollers î
Textile
Pins |
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Imports from : |
France
and China |
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Terms : |
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Selling : |
Credit
upto 60 days basis |
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Purchasing : |
Credit
upto 60 days basis |
PRODUCTION
STATUS
|
Particulars |
|
Unit |
Installed Capacity |
Actual Production |
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Steel Wires (size 2.00 mm to 15.00 mm) |
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MT |
1800 |
1500 |
GENERAL
INFORMATION
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Customers : |
î
Manufacturers
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No. of Employees : |
Around
18 |
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Bankers : |
Bank of Baroda P R
Marg, Ajmer – 305 001, Rajasthan, India IDBI Bank Limited Opp.
City Power House, Jaipur Road, Ajmer, Rajasthan, India |
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Facilities : |
C/C :
Rs. 5.000 millions and L/C : Rs. 10.000 millions from Bank of Baroda. |
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Banking Relations : |
Satisfactory
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Auditors : |
Sunil
Porwal and Company Chartered
Accountants |
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Address : |
Opp.
Kaiser Ganj Station Road, Ajmer – 305 001, Rajasthan, India |
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Tel. No.: |
91-145-2620407 |
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Sister Concerns : |
Shree Shyam Industries Address: H – 1 / 78, A, B, C, D, E, F,
Gegal Industrial Area, Ajmer – 305 023, Rajasthan, India Line of Business: manufacturer of bearing
grade steel wire Tirupati Ball Industries Address: F – 18, Prabatpura Industrial
Area, Ajmer – 305 002, Rajasthan, India Line
of Business: manufacturer of steel balls |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
5.792 millions |
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Borrowed : |
Rs.
5.916 millions |
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Total : |
Rs.
11.708 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 (Audited) |
31.03.2005 (Audited) |
31.03.2004 (Audited) |
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SHAREHOLDERS FUNDS |
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1] Partners Capital |
5.792 |
5.931 |
5.197 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.792 |
5.931 |
5.197 |
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LOAN FUNDS |
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1] Secured Loans |
1.394 |
0.400 |
0.723 |
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2] Unsecured Loans |
4.522 |
2.327 |
1.043 |
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TOTAL BORROWING |
5.916 |
2.727 |
1.766 |
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TOTAL |
11.708 |
8.658 |
6.963 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.500 |
2.110 |
2.190 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.889 |
0.115 |
0.130 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
6.547
|
2.478 |
2.672 |
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Sundry Debtors |
8.702
|
4.826 |
3.603 |
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Cash & Bank Balances |
0.365
|
0.254 |
0.011 |
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Other Current Assets |
1.476
|
0.543 |
0.296 |
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Loans & Advances |
0.000
|
0.312 |
0.190 |
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Total Current Assets |
17.090
|
8.413 |
6.772 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
9.771
|
1.980 |
2.129 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total Current Liabilities |
9.771
|
1.980 |
2.129 |
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Net Current Assets |
7.319
|
6.433 |
4.643 |
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TOTAL |
11.708 |
8.658 |
6.963 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
57.266 |
47.925 |
33.648 |
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Profit/(Loss)
Before Tax |
0.941 |
0.623 |
0.654 |
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Provision
for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss)
After Tax |
0.941 |
0.623 |
0.654 |
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Total
Expenditure |
5.113 |
4.631 |
4.413 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
1.64
|
1.30 |
1.94 |
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Net
Profit Margin (PBT/Sales) |
(%) |
1.64
|
1.30 |
1.94 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
4.38
|
5.85 |
7.19 |
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Return
on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.10 |
0.12 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
3.71
|
1.79 |
1.75 |
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Current
Ratio (Current
Asset/Current Liability) |
|
1.75
|
4.25 |
3.18 |
LOCAL AGENCY
FURTHER INFORMATION
Profile
Shree Krishna Industries is old integrated
conglomerate of engineering companies in the manufacturing and supply of all
types of alloy & non alloy steel wires.
Shree Krishna Industries was established in feb 1997. The Company is headed by
eminent and efficient Partners Mr. Prem Niwas Taparia & Mr. Satish Rathi,
both Partneres are have well qualified and expertise in this field, since 10
years long experience. One more Partner Mr. Manish Taparia who is a
chartered accountant.
Shree Krishna Industries is a company seeking to
revolutionize the Wire industry by offering its customers the sophisticated
state of art technology at the most competitive prices. A Phenomenon that
aims over the next few years to be amongst one of the top most wire
manufacturing industry.
Shree Krishna Industries is backed by the latest
technology and best equipment, coupled with a team of highly qualified and
well trained personnel, supported by over one decades of experience in wire
industry. This obsession for quality is reinforced by some of the best
facilities for process control, inspection and testing at various levels.
The
concern is Gold Card Winner in all Sales Tax Matters for continues last 2 years
i.e. 2004, 2005 and 2006.
Products
Shree Krishna Industries offers complete customer satisfaction with its premium products Certified to meet IS0 9002:1994 Products Quality Standards over the entire size range.1 mm to 15 mm wire.
Premier products steel wire in the Grades SAE 52100/HCHC(EN-31)/High carbon/50 CRV4/EN-9/ EN-42C/SAE 4140/ SAE 1541/10B21/15B25 etc. in the diameter range from 1 mm to 15 mm . Steel Wire can be supplied in Spherodised Annealed, Simple Annealed and Spring hard Conditions for various applications like Taper Roller, Needle Roller, High Tensile/Low Tensile Fastners, Graded Steel Balls, Grinding Media Balls, Precision Balls, Textile Pins, Springs etc.
Shree Krishna Industries products are manufactured in a new environment
friendly plant, which is a single roof facility for the complete process,
ensuring excellent control and quick customer servicing. Basic steel wire
rods are sourced directly from India's premier manufacturing company like Usha
Martin, Tata Steel, Visakhapatnam Steel Plant. All material is
inspected and processed through various stages of pickling, annealing Raw
Material to Finsihed Goods.
Trade
References:
Needumbra
Industries Limited
Address:
A-156, Main Road, Wagle Industrial Estate, Thane, Maharashtra, India
Contact
Person: Mr. Shailash Tolia
Mobile
Nos.: 91-9820155653
Pratap
Engineering Works
Address:
A-9, Industrial Estate, Jodhpur, Rajasthan, India
Contact
Person: Mr. Manmohan Kansara
Mobile
Nos.: 91-9829025424
The
Company’s Fixed Assets of important value includes:
î
Land
î
Building
î
Plant
and Machinery
î
Computer
î
Furniture
and Fixtures
î
Car
Contact Us
Plot No. H-1 / 79-80 Gegal Industrial Area,
Ajmer-305023, Rajasthan, India
Phone No.: 91-145-2791438
Fax No.: 91-145-2791638
E-mail : support@steel-wires.com , skiwire_jp1@sancharnet.in , skiwire@jp1.dot.net.in
,
Website : http://www.steel-wires.com
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.44.86 |
|
UK
Pound |
1 |
Rs.85.24 |
|
Euro |
1 |
Rs.56.99 |
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 |
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 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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|