MIRA
INFORM REPORT
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Report Date : |
27.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
KANIKA METAL PRIVATE LIMITED |
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Registered Office : |
9490/11, Multani Dhanda, Paharganj, New Delhi – 110055 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.04.1994 |
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Com. Reg. No.: |
55 – 58254 |
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CIN No.: [Company
Identification No.] |
U29120DL1994PTC058254 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK02609F |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer & Exporter of Aluminium
PP Caps, Crown Corks and Bottle Caps. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
10000 |
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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 company having satisfactory track. General financial position is
satisfactory. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
9490/11, Multani Dhanda, Paharganj, New
Delhi – 110055 |
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Tel. No.: |
91-11-23553251 |
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Mobile No.: |
91-9811984747 [Mr. Akshay Kapoor]
9811085485 [Mr. Praveen Kapoor] |
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Fax No.: |
91-11-23512201 |
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E-Mail : |
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Website : |
http://www.kanikametal.com |
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Area : |
300 sq. ft. |
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Location : |
Owned |
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Factory
: |
16/22-23, Budhpur, G.T.Karnal Road, Delhi |
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Tel.
No.: |
91-11-27731062 |
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Fax
No.: |
91-11-23512201 |
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E-Mail
: |
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Website : |
http://www.kanikametal.com |
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Area : |
3300 sq. ft. |
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Location : |
Owned - Industrial |
DIRECTORS
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Name : |
Mr
Parveen Kapoor |
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Designation : |
Director |
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Address : |
16/319,
Joshi Road, Karol Bagh, New Delhi 110 005, India |
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Date of Birth/Age : |
49
Years |
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Qualification : |
Graduate |
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Experience : |
30
Years |
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Name : |
Mr Akshay Kapoor |
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Designation : |
Director |
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Address : |
16/319,
Joshi Road, Karol Bagh, New Delhi 110 005, India |
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Date of Birth/Age : |
21
Years |
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Qualification : |
Graduate |
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Experience : |
4
Years |
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Name : |
Ms Veenu Kapoor |
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Designation : |
Director |
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Address : |
16/319,
Joshi Road, Karol Bagh, New Delhi 110 005, India |
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Date of Birth/Age : |
47
Years |
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Qualification : |
Graduate |
KEY EXECUTIVES
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Name
: |
Mr Parveen Kapoor |
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Designation
: |
Chief Executive Officer |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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Percentage of Holding |
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Mr.
Parveen Kapoor |
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40.00 |
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Mr.
Akshay Kapoor |
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40.00 |
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Ms.
Veenu Kapoor |
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20.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer & Exporter of Aluminium PP Caps, Crown Corks and Bottle Caps. |
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Products : |
Aluminium PP Caps Crown Corks Bottle Caps |
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Exports to : |
Bottle Caps to South Africa, Central
Africa and Crown Corks & ROPP Caps to European Countries. The subject is also supplying their
products to Pharmaceutical and other consumable industries. |
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Imports from : |
Moulded Furniture from China and Wooden
Furniture from Taiwan |
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Terms : |
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Selling : |
Irrevocable Letter of Credit and TT Advance |
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Purchasing : |
Letter of Credit and Document against Payment |
PRODUCTION
STATUS
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Particulars |
Installed Capacity |
Actual Production |
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Bottle Caps |
30 millions |
25 millions |
GENERAL
INFORMATION
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No. of Employees : |
65 |
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Bankers : |
State Bank of India, Chandni Chowk, Delhi |
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Facilities : |
Cash Credit : Rs. 4.000 millions It is secured against hypothecation of fixed assets, inventories and book debts |
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Banking Relations : |
Satisfactory
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Auditors : |
Mahesh Kumar & Sons Chartered Accountants |
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Associates : |
Akshay Enterprises 9489/11, Multani Dhanda, Paharganj, New Delhi 110055, India Line of Business : Trading of Moulded Furniture Ashoka Ice Cream 9488/11, Multani Dhanda, Paharganj, New Delhi 110055, India Line of Business : Manufacturing of Ice Cream |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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24296 |
Equity Shares |
Rs.100/- each |
Rs. 2.429 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.430 |
0.455 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.171 |
[0.198] |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.601 |
0.257 |
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LOAN FUNDS |
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1] Secured Loans |
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7.409 |
2.490 |
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2] Unsecured Loans |
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0.000 |
1.975 |
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TOTAL BORROWING |
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7.409 |
4.465 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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10.010 |
4.722 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.137 |
0.457 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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7.040 |
1.107 |
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Sundry Debtors |
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6.250 |
4.232 |
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Cash & Bank Balances |
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0.284 |
0.194 |
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Other Current Assets |
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0.313 |
0.081 |
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Loans & Advances |
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0.013 |
0.907 |
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Total Current Assets |
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13.900 |
6.521 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.027 |
2.206 |
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Provisions |
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0.000 |
0.050 |
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Total Current Liabilities |
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5.027 |
2.256 |
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Net Current Assets |
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8.873 |
4.265 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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10.010 |
4.722 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover [including other income] |
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18.633 |
6.852 |
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Profit/(Loss)
Before Tax |
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0.369 |
0.391 |
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Provision
for Taxation |
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0.000 |
0.050 |
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Profit/(Loss)
After Tax |
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0.369 |
0.341 |
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Total
Expenditure |
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17.797 |
6.329 |
KEY
RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.98 |
4.98 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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3.02 |
6.38 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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2.45 |
4.89 |
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Return
on Investment (ROI) (PBT/Networth) |
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14.19 |
132.68 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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2.85 |
17.37 |
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Current
Ratio (Current
Asset/Current Liability) |
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2.77 |
2.89 |
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Quick
Ratio |
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1.36 |
2.40 |
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Current
Liabilities / Net worth |
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1.93 |
8.78 |
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Fixed
Assets / Net worth |
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0.44 |
1.78 |
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Average
Collection Days |
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186.77 |
251.86 |
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Account
Receivables Turnover |
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1.95 |
1.45 |
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Inventory
Turnover |
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1.73 |
5.54 |
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Asset
Turnover |
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10.74 |
13.42 |
LOCAL AGENCY
FURTHER INFORMATION
Trade
Reference :
Diamonds
Swiss
Jain Soda Water Factory
McDowell
Verka
WEBSITE DETAILS
About Us
They, at Kanika
Metals, have carved a niche for ourselves as a manufacturer and exporter of a
diversified range of Aluminum PP Caps, Crown Corks and Bottle Caps. Established
in 1994, they have the potential to meet bulk orders in short time period due
to the availability of abundant raw material, manufacturing resources,
qualified team members and well-organized management. They follow the path of
steady progress and continuous development in order to provide their customers
with the world class services. The competitive pricing of their products has
resulted in repeated orders from esteemed clients.
Quality Standards
Quality is given the
highest priority during the manufacturing process. Right from the development
of designs to the final delivery, every product and service undergoes several
quality tests and repeated analysis. Their sincere approach to stringent
quality control system ensures that their customers receive the authentic range
of products at affordable prices coupled with timely delivery.
Their Team
They have a strong
support of their efficient team comprising of highly skilled engineers, quality
control experts, analysts, product managers and promoters. They are highly
experienced to ensure flawless development of the products in the available
resources. Their marketing team continuously research the market in order to keep
themselves upgraded with latest products.
Infrastructure
Their fully equipped and comprehensive infrastructure comprises of
state-of-the-art machinery for efficient and flawless production. They have the
facilities to print any number of caps as they posse world class printing unit.
They specialize in making customized caps and corks according to the specific
demand of the clients. With their unrelenting efforts, they have succeeded in
winning the hearts of their clients spread all over the country and abroad.
COMPANY PROFILE
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Business Type |
Exporter,
Manufacturer |
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Export Percentage |
50% |
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Primary Competitive Advantages |
Timely Delivery & Service according to client needs, Low cost or
production due to highly technically advanced machinery high quality continuous
quality check evaluation. |
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Sales Volume |
65 millions |
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Export Markets |
Worldwide |
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OEM Service Provided |
Yes |
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Production Type |
Both manual and
automatic |
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Monthly Production Capacity |
20 millions Ropp
Caps |
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.44.64 |
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UK
Pound |
1 |
Rs.86.51 |
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Euro |
1 |
Rs.58.62 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
43 |
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 |
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