MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
KAMBOJ POLYMERS PRIVATE LIMITED |
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Registered Office : |
2-A/3, Ramesh Nagar, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.03.1995 |
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Com. Reg. No.: |
55-66527 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC066527 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK05863E |
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PAN No.: [Permanent
Account No.] |
AAACK3775H |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer and exporter of Plastic Components for Automobiles, Consumer Goods
Plastic Components and Other types of Plastic Components. |
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 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Directors are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
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 : |
2-A/3, Ramesh Nagar, |
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E-Mail : |
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Factory : |
149,
Sector-7, IMT Manesar, Gurgaon - 122050, |
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Tel. No.: |
91-124-4368149
/ 2570118 |
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Mobile No.: |
91-9313501821
/ 9891072977 |
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Fax No.: |
91-124-4368246
/ 2570119 |
DIRECTORS
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Name : |
Mr. Satya Pal Kamboj |
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Designation : |
Director |
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Address : |
2-A/3, Ramesh Nagar, |
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Date of Birth/Age : |
21.03.1960 |
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Date of Appointment : |
23.03.1995 |
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Name : |
Mr. Kamlesh Kamboj |
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Designation : |
Director |
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Address : |
2-A/3, Ramesh Nagar, |
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Date of Appointment : |
25.03.1995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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S P Kamboj |
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112973 |
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Kamlesh Kamboj |
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17100 |
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Sukh Devi Kamboj |
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7100 |
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Jogindar Pal Kamboj |
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12100 |
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Bharat Bhushan |
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10100 |
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Sundar Lal Kamboj |
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10100 |
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Nathi Ram |
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5100 |
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Gala Ram |
|
100 |
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R B Kamboj |
|
100 |
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Ramesh Chand |
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10900 |
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Prem Chand |
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47100 |
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15100 |
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Ram Kumar |
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10900 |
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Sohan Lal |
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5900 |
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Ashok Kumar |
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5000 |
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Ashok Jain |
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10000 |
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Dharam Pal |
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10100 |
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Jogindar Pal |
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10100 |
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Janak Kamboj |
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5000 |
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Karuna Kamboj |
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10000 |
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10000 |
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Sanjay Kamboj |
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10000 |
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Naresh Kamboj |
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5000 |
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Pala Ram |
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5000 |
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Pawan Kumar Kamboj |
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5000 |
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Pradeep Kaura |
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10000 |
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Rakesh Kumar |
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5000 |
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Satbir Vashisht |
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10000 |
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Som Prakash Kamboj |
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10000 |
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Surjit Singh |
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4000 |
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Vadwati |
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2000 |
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Ram Pal Kamboj |
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5000 |
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Raj Kumar |
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4000 |
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Total |
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399873 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Directors of relatives of directors |
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98.00 |
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Other top fifty shareholders |
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2.00 |
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Total |
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100.00 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of Plastic Components for Automobiles, Consumer Goods
Plastic Components and Other types of Plastic Components. |
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Products : |
·
Plastic Components for Automobiles ·
Consumer Goods Plastic Components ·
Other types of Plastic Components |
GENERAL INFORMATION
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Customers : |
·
UCAL Fuel Systems
Limited ·
International Car
and Motor Limited ·
Frigoglass India
Private Limited ·
Lumax Industries
Limited ·
Sun Vaccuum Formers
Limited ·
M.M. Aqua
Technologies Limited ·
Mayor International
Limited ·
Tata Tele-Services
Limited ·
Reliance Infocom
Limited |
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No. of Employees : |
About 55 |
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Bankers : |
Canara Bank - Old Railway Road, Gurgaon –
122001, ICICI Bank Citi Bank Kotak Mahindra Bank |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vinod Arora and Company Chartered Accountants |
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Address : |
211-12, Apna Bazar, Gurgaon – 122001, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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399873 |
Equity Shares |
Rs. 10/- each |
Rs. 3.999
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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3.999 |
3.999 |
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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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0.941 |
0.573 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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4.940 |
4.572 |
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LOAN FUNDS |
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1] Secured Loans |
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11.738 |
8.178 |
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2] Unsecured Loans |
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7.078 |
6.616 |
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TOTAL BORROWING |
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18.816 |
14.794 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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23.756 |
19.366 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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17.096 |
14.545 |
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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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1.805 |
0.129 |
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Sundry Debtors |
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9.510 |
6.217 |
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Cash & Bank Balances |
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0.185 |
0.095 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.763 |
3.033 |
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Total
Current Assets |
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13.263 |
9.474 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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6.491 |
4.585 |
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Provisions |
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0.112 |
0.069 |
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Total
Current Liabilities |
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6.603 |
4.654 |
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Net Current Assets |
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6.660 |
4.820 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.001 |
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TOTAL |
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23.756 |
19.366 |
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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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24.916 |
18.404 |
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Profit/(Loss) Before Tax |
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0.412 |
0.363 |
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Provision for Taxation |
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0.043 |
0.030 |
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Profit/(Loss) After Tax |
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0.369 |
0.333 |
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Total Expenditure |
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24.504 |
18.041 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.48 |
1.81 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.65 |
1.97 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.36 |
1.51 |
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Return on Investment (ROI) (PBT/Networth) |
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0.08 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.15 |
4.25 |
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Current Ratio (Current Asset/Current Liability) |
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2.01 |
2.04 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
KAMBOJ POLYMERS
PRIVATE LIMITED |
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Presented By |
CANARA BANK, |
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1) Date and description of instrument creating the change |
17.01.1997 –
Registered on 07.04.1998 agreement |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.300 Million |
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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 |
Hypothecation of
Book debts, Stocks and machinery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest to be
charged at the rate of 4.5 % p.a. above RBI rate subject to a minimum of 16.5
% p.a. Margin : 40 % |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Old Gurgaon, |
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6) Date and brief description of instrument modifying the charge |
01.11.2004 Supplemental
Agreement Previously
modified on 04.05.2002 and finally again modified on 04.05.2002 for change in
terms and conditions for the enhanced limit of Es. 0.500 Million and
modification registered on 24.05.2002 |
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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. |
The ODBD Limit
stands enhanced from Rs. 0.500 Million to Rs. 2.500 Million The rate of
interest shall now be charged at the rate of 2 % above ongoing PLR subject to
a minimum of 12.60 % p.a. with monthly rests. Other terms and
conditions remained the same. |
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
90033975 |
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Corporate
identity number of the company |
U74899DL1995PTC066527 |
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Name of the company
|
KAMBOJ POLYMERS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
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Type of charge |
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Particular of
charge holder |
Canara Bank, Old Gurgaon – 122001, |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement |
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Date of
instrument Creating the charge |
17.01.2007 |
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Amount secured by
the charge |
Rs. 7.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall
now be charged as may be prescribed by the bank from time to time. Terms of
repayment : Payable on demand
Margin : as may
be prescribed by the bank from time to time Extent and
operation of the charge : 100 % |
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Short particulars
of the property charged |
Hypothecation of
Book – debts, Stock and Machinery |
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Date of latest modification
prior to the present modification |
26.06.2006 |
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Particulars of
the present modification |
The OCC / ODBD
limit stands enhanced from Rs. 5.000 Millions to Rs. 7.500 Millions to secure
as Adhoc OCC limit of Rs. 2.500 Millions granted by Bank to the company Other terms and
conditions remained the same. [Original Charge
Created on 17.01.1997 and registered on 07.04.1998, Amount secured Rs. 0.300
Million] |
Profile
Subject was started in the year 1994 with
a vision to satisfy the customers with premium quality Plastic products and
services at industry leading prices. Today, they are the reputed manufacturer
and exporter of Plastic
Components for Automobiles, Consumer Goods Plastic Components and Other types
of Plastic Components. They follow a customer centric
approach and their name has become synonymous to quality and reliability. Their
focus on delivering impeccable quality products along with proactive client services
have positioned them way ahead of their competitors in the industry. All their
products go through stringent quality control process and confirm to the
international quality standards. Their integrated work approach and complete
coordination at all levels enable them to process orders within the least lead
time thus helping them to achieve maximum degree of customer satisfaction.
Quality
System
·
An ISO 9001: 2000 certified company.
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Stringent quality checks at every manufacturing stage, from the procurement
of the raw material to dispatch of the finished products.
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They comprise of a fully-equipped laboratory for testing all kinds
of raw materials.
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The production process is manned by qualified quality control
engineers.
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Use of the most sophisticated machines and technology.
Strengths
·
Pool of expert engineers and workshop technicians
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Dedicated and experienced quality control department
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Faster product development facilities
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Wide range of plastic components manufacturing facility
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Product design, mould development, manufacturing, assembly
facilities
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Latest technology to produce world class products
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Rich and resourceful R& D for continual improvement
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Most modern plants equipped with latest machines
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Strong market goodwill and wide client base
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 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.40.66 |
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|
1 |
Rs.81.70 |
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Euro |
1 |
Rs.55.05 |
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 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
|