MIRA
INFORM REPORT
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Report Date : |
07.07.2007 |
IDENTIFICATION DETAILS
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Name : |
KUBER KHADYANN PRIVATE LIMITED |
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Registered Office : |
1 / 9, West Patel Nagar, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.05.1998 |
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Com. Reg. No.: |
55-93548 |
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CIN No.: [Company
Identification No.] |
U15419DL1998PTC093548 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK05314B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Indian Traditional Snacks and Food Items
such as Bhujia, Chana Dal, Namkeen, Sweets and Rasgulla. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track records.
Company’s profitability is under severe pressure. It has some accumulated
losses. Payments are reported as slow but correct. The company can be considered normal for small business dealings at
usual trade terms and conditions, with slight caution initially. |
LOCATIONS
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Registered Office / Factory : |
1 / 9, West Patel Nagar, |
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Tel. No.: |
91-11-41426157 / 68 |
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Mobile No.: |
91-9811872288 |
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Fax No.: |
91-11-41426167 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Vikas Malu |
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Designation : |
Director |
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Address : |
3909, Gali Barna, |
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Date of Birth/Age : |
15.04.1974 |
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Date of Appointment : |
01.05.1998 |
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Name : |
Mr. Subh Karan Bothra |
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Designation : |
Director |
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Address : |
365-366, Double Storey, New Rajinder Nagar, |
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Date of Birth/Age : |
24.10.1959 |
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Date of Appointment : |
29.05.2001 |
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Name : |
Mr. Rakesh Kumar Bothra |
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Designation : |
Director |
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Address : |
House No. 12, J & K Block, Laxmi Nagar Shakar Pur, |
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Date of Birth/Age : |
20.11.1967 |
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Date of Appointment : |
23.09.2006 |
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Other Directorship : |
Kuber Khanpan Udyog Private Limited U01122DL1999PTC102556 |
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Name : |
Mr. Ratan Lal Sain |
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Designation : |
Director |
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Address : |
3909, Gali Barna, Pahari Dhiraj, |
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Date of Birth/Age : |
04.01.1957 |
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Date of Appointment : |
25.03.2006 |
KEY EXECUTIVES
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Name : |
M/s. H P Joshi and Company |
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Designation : |
Company Secretaries |
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Address : |
S-280 / B, School Block, Shakarpur, |
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Date of Birth/Age : |
91-11-22481319 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mulchand Malu |
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80000 |
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Vikas Malu |
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20000 |
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Vijaya Devi Malu |
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10000 |
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Sarika Malu |
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25000 |
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Desert Agricultural and Irrigation Development Limited |
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30000 |
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Hansraj Bothra |
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30000 |
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Kani Surana |
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50000 |
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Vikas Malu |
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15000 |
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Mulchand Malu |
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60000 |
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R. K. Investments Private Limited |
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85000 |
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Rajani Investments Private Limited |
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35000 |
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Madonis Vyapar Private Limited |
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60000 |
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Total |
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500000 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Bodies corporate |
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36.00 |
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Other top fifty shareholders |
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64.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Indian Traditional Snacks and Food Items
such as Bhujia, Chana Dal, Namkeen, Sweets and Rasgulla. |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bhawani Sharma and Company Chartered Accountants |
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Address : |
6202/1 Block -1, Dev Nagar, Karol Bagh, |
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Memberships : |
SFA |
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Associates/Subsidiaries : |
Kuber Khanpan Udyog Private Limited U01122DL1999PTC102556 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2250000 |
Equity Shares |
Rs. 10/- each |
Rs. 22.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1853500 |
Equity Shares |
Rs. 10/- each |
Rs. 18.535
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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18.535 |
9.235 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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[15.200] |
[13.282] |
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NETWORTH |
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3.335 |
[4.047] |
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LOAN FUNDS |
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1] Secured Loans |
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8.240 |
6.719 |
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2] Unsecured Loans |
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19.047 |
19.787 |
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TOTAL BORROWING |
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27.287 |
26.506 |
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DEFERRED TAX LIABILITIES |
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0.572 |
0.000 |
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TOTAL |
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31.194 |
22-459 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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19.777 |
22.048 |
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Capital work-in-progress |
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0.172 |
0.000 |
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INVESTMENT |
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0.015 |
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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16.977 |
22.721 |
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Sundry Debtors |
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10.199 |
2.638 |
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Cash & Bank Balances |
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2.929 |
0.970 |
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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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0.708 |
0.818 |
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Total
Current Assets |
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30.813 |
27.147 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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19.726 |
30.482 |
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Provisions |
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0.043 |
0.000 |
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Total
Current Liabilities |
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19.769 |
30.482 |
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Net Current Assets |
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11.044 |
[3.335] |
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MISCELLANEOUS EXPENSES |
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0.186 |
3.746 |
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TOTAL |
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31.194 |
22.459 |
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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 |
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49.421 |
42.402 |
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Other Income |
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14.190 |
0.000 |
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Total Income |
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63.611 |
42.402 |
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Profit/(Loss) Before Tax |
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(1.303) |
(9.941) |
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Provision for Taxation |
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0.615 |
0.000 |
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Profit/(Loss) After Tax |
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(1.918) |
(9.941) |
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Expenditures : |
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Manufacturing Expenses |
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6.121 |
5.093 |
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Administrative Expenses |
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6.259 |
5.528 |
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Raw Material Consumed |
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37.387 |
37.693 |
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Purchases made for re-sale |
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2.197 |
0.000 |
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Power & Fuel |
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3.027 |
2.422 |
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Depreciation & Amortization |
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2.657 |
2.678 |
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Other Expenditure |
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5.438 |
2.013 |
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Total Expenditure |
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63.086 |
55.427 |
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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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3.01 |
23.44 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.63 |
23.44 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.57 |
20.20 |
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Return on Investment (ROI) (PBT/Networth) |
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0.39 |
2.45 |
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Debt Equity Ratio (Total Liability/Networth) |
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14.11 |
[14.08] |
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Current Ratio (Current Asset/Current Liability) |
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1.56 |
0.89 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from 1/9, West
Patel Nagar,
PROFILE
Established in the year 2001, subject are a renowned name in
the field of Snacks and Food Items. With exquisite taste, impeccable quality and
competitive prices, they have entrenched their selves as one of the most
preferred manufacturers of Indian Traditional Snacks and Food Items such
as Bhujia, Chana Dal, Namkeen, Sweets and Rasgulla. With the combination
of fair business principles, efficient service and solid products, they expect
a successful and growth oriented future. Regarding credibility as the first
priority, they conduct all their operations in a professional way. Due to the
manufacturing of excellent quality products, they have established a strong
reputation in the market. All their food products are made of quality raw
materials.
Their range of products come in an eye catching packaging which signifies the
high quality levels of the company. The complete range of products offered are
fast moving and are highly popular because of their quality and
competitive pricing. Serving all age groups, their confectionery range comes in
various sizes, shapes, designs and tastes. Their wide and sophisticated range of
Snacks and Food Items include:
Bhujia
Chana
Dal
Namkeen
Sweets
Rasgulla.
INFRASTRUCTURE
Their state-of-the-art manufacturing unit coupled with the
most sophisticated infrastructure is the mantra of their success. Their world class
machineries are installed with cutting edge technology taking them far ahead of
their competitors. They are equipped with a team of experts working with utmost
dedication who utilize their skills to give the best quality
products to the customers. The expertise of their workforce are enhanced with
proper training from time to time. The whole processing is done in a hygienic
and clean environment where all the measures are taken to maintain it round the
clock. Packaging and delivery is another aspect where intense care is
taken. Packaging is done keeping international standards in mind and it is
ensured that the finished products don't get contaminated by human touch. Their
advance and spacious warehouse is the backbone of the company and has the capability
to store bulk amount of orders.
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.40.46 |
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1 |
Rs.81.29 |
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Euro |
1 |
Rs.54.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
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23 |
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 |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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