MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
KNND ASSOCIATES PRIVATE LIMITED |
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Registered Office : |
153 – 166 / 1, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
14.05.1999 |
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Com. Reg. No.: |
08-25205 |
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CIN No.: [Company
Identification No.] |
U05150KA1999PTC025205 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealers of entire range of Carrier Products, sales and
services of Air conditioning Equipments & related product. |
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 128352 |
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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 record. Directors are reported as experience 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 : |
153 – 166 / 1, |
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Tel. No.: |
91-80-6588870-75 |
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Fax No.: |
91-80-26490068 |
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E-Mail : |
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Website: |
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Area : |
4,000 sq. mtrs (owned) |
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Branches : |
#102, |
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Tel. No.: |
0824-454752 / 457410 |
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Service Centre: |
KNND House, |
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Tel. No.: |
91-80-26588870 to 26588875 (6 lines) |
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Fax No.: |
91-80-26490068 |
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E-Mail : |
DIRECTORS
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Name : |
Mr.Dinesh R. |
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Designation : |
Director |
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Address : |
No. 190/4, 15th Main, Hanumanth Nagar, |
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Date of Birth/Age : |
17.03.01964 |
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Name : |
Mr. Narayanappa V. |
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Designation : |
Director |
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Address : |
No. 197, 1st Cross, 6th Stage, |
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Date of Birth/Age : |
25.05.1963 |
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Name : |
Mr. Nagaraj U. |
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Designation : |
Director |
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Address : |
No. 720/A, 10th Main, 8th Cross, MICO Layout,
BTM Layout 2nd Stage, |
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Date of Birth/Age : |
08.05.1966 |
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Name : |
Mr. Pradeep S. |
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Designation : |
Director |
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Address : |
No. 46, 4th Cross, 2nd Main, Hanumanth Nagar,
Banglore – 560 019, |
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Date of Birth/Age : |
01.10.1970 |
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Name : |
Mr. Basavaraj K. T. |
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Designation : |
Director |
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Address : |
No. 2482, 7th ‘A’ Main, RPC Layout, Vijaynagar, Banglore –
560 040, |
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Date of Birth/Age : |
03.05.1967 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Narayanappa V. |
60,000 |
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Mr. Dinesh R. |
55,000 |
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Mr. Nagaraj U. |
55,000 |
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Mr. Pradeep S. |
55,000 |
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Mr Basavaraj K. T. |
55,000 |
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Meera N. |
45,000 |
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Praveena |
40,000 |
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Vani N. D. |
45,000 |
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Vanishree |
45,000 |
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Rupa |
45,000 |
Equity share breakup (percentage of total euity)
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S. No. |
Category |
Percentage |
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1 |
Directors or relatives of director |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealers of entire range of Carrier Products, sales and
services of Air conditioning Equipments & related product. |
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Products : |
Window ACs, Splits, Water cooled Packaged Unit, Chillers, Fan Coil
Units, Compressors, Air Handling Units. |
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Terms : |
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Selling : |
Credit (30-60 days) |
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Purchasing : |
Credit (40 days) |
GENERAL INFORMATION
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Suppliers : |
Carrier Aircon Limited, Banaglore Orient Traders, |
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Customers : |
IFLEX Solutions Limited, |
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No. of Employees : |
150 |
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Bankers : |
©Canara Bank 197 / 7, Cunnigham Road, © ABN Amro Bank © Corporation Bank © Indian Overseas Bank © Manipal Co-Operative Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chinnappa and Associates Chartered Accountant |
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Address : |
210, Commerce House, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15,00,000 |
Equity |
Rs 10/- Each |
Rs. 15.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,00,000 |
Equity |
Rs 10/- Each |
Rs. 10.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
7.324 |
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3] Reserves & Surplus |
22.088 |
13.011 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
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NETWORTH |
32.088 |
18.011 |
12.324 |
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LOAN FUNDS |
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1] Secured Loans |
4.324 |
4.229 |
2.748 |
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2] Unsecured Loans |
0.000 |
0.000 |
-- |
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TOTAL BORROWING |
4.324 |
4.229 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.193 |
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TOTAL |
36.412 |
22.240 |
15.265 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.724 |
11.010 |
10.392 |
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Capital work-in-progress |
0.000 |
0.000 |
-- |
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INVESTMENT |
2.495 |
0.035 |
0.035 |
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DEFERREX TAX ASSETS |
0.205 |
0.150 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
7.426
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7.309 |
26.192 |
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Sundry Debtors |
34.836
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56.647 |
18.894 |
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Cash & Bank Balances |
3.053
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3.163 |
5.161 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
14.509
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11.705 |
6.513 |
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Total
Current Assets |
59.824
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78.824 |
56.760 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
38.982
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0.243 |
52.199 |
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Provisions |
7.854
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52.199 |
0.000 |
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Total
Current Liabilities |
46.836
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67.779 |
52.199 |
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Net Current Assets |
12.988
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11.045 |
4.561 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.034 |
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TOTAL |
36.412 |
22.240 |
15.265 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
209.256 |
219.189 |
109.932 |
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Total Income |
209.256 |
219.189 |
109.932 |
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Profit/(Loss) Before Tax |
10.192 |
9.364 |
3.733 |
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Provision for Taxation |
4.863 |
3.677 |
2.110 |
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Profit/(Loss) After Tax |
5.329 |
5.687 |
1.623 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
2.54
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2.59 |
1.47 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.87
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4.27 |
1.47 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
12.65
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10.42 |
5.60 |
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Return on Investment (ROI) (PBT/Networth) |
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0.31
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0.51 |
0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.59
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4.00 |
4.23 |
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Current Ratio (Current Asset/Current Liability) |
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1.27
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1.16 |
1.08 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
Subject was incorporated
on 14th May, 1999 at
Subject took over the Partnership Firm of ‘KNND Associates’ which was established by same owners in 1997, as a going concern.
As
Per Website:
The world is seeing a major revolution, a
revolution that has dramatically changed the life styles of people, redefined
the way businesses operate and has given rise to a whole new world of
opportunities in every sphere. They at KNND Associates Pvt Ltd. believe that
they can be a part of this revolution and also assist businesses in making their
transformation into this new age. As an authorized dealer for Carrier Aircon
Limited which is a subsidiary of Carrier International Corporation, U S A World
leaders in air-conditioning and the leading distributors of Eureka Forbes the
leader in Water Purifiers in India.
They have been authorized to undertake sales, installation, commissioning and
after sales service for the full range of Carrier products in Karnataka. They
undertake execution of time bound turnkey projects in the field of air
conditioning air-cooling, ventilation clean room etc. within a short span of
operation, they have achieved many milestones in the above said field. Their
ever-growing clients are the testimony that speaks for itself.
With the support of extensive infrastructure in designing, projects backed by
technically competent manpower and technologically advanced products supplied
by their principals they are able to cater to any kind of requirement.
Air-conditioning being their core competency, they have access to the latest technological
developments from their various R&D Centers worldwide and the products
being offered to you are from the current table of products available from
CARRIER worldwide.
They have been awarded No .1 Carrier Dealer for the last three consecutive years
for achieving highest sales of Carrier Products in Karnataka. Come to them and
they will give you the best in terms of quality of the product, service and
finish for the aesthetic value to the beautiful living or business space.
AIR
CONDITIONERS
Window ACs
Splilts
i)
Non-ducted Splits
ii)
Ducted Splits
Water-cooled Packaged Unit
Chillers
i)
Reciprocatory
ii)
Scroll
iii)
Screw
iv)
Centrifugal
Fan coil Units
Compressors
i)
Rotatory
ii)
Reciprocatory
Air Handling Units
WATER PURIFIERS
Eureka Forbes, the makers of Aquaguard bring you Pureguard cooler cum
purifier the first of its kind in
Only Pureguard cooler cum purifier has the technology to ensure that the
drinking water is not just cool but also 100% safe. It comes with the ISO 9001
certification and a purification capacity of 40 liters per hour.
Water Cooler Cum Purifier
PRE-FILTER- Purification
stage 1. Unique polypropylene yarn candle, to remove physical impurities.
ACTIVATED CARBON CARTRIDGE- Purification stage 2. Specially treated to effectively
remove organic matter,colour, odour and free chlorine.
ULTRAVIOLET CHAMBER- Purification stage3.To eliminate all known
water-borne disease causing bacteria and viruses.
ELECTRONIC EYE-To monitor the purification process and stop the flow of
water with the solenoid Valve if purification is incomplete.
COMPRESSOR- For regulation of water flow. To ensure optimum and instant
purification.
HEAT EXCHANGER-Specially designed, to ensure instant on-line supply of
cold water.
PRE-FILTER- Purification stage 1. Unique polypropylene yarn candle, to remove
physical impurities.
ACTIVATED CARBON CARTRIDGE- Purification stage 2. Specially treated to
effectively remove organic matter,colour, odour and free chlorine.
ULTRAVIOLET CHAMBER- Purification stage3.To eliminate all known
water-borne disease causing bacteria and viruses.
ELECTRONIC EYE-To monitor the purification process and stop the
flow of water with the solenoid Valve if purification is incompl
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.95 |
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1 |
Rs.81.80 |
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Euro |
1 |
Rs.55.09 |
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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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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
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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 |
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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 |
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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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<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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