MIRA
INFORM REPORT
|
Report Date : |
02.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
KAPRISA INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered Office : |
GJ – 15, SDF – VII, Seepz, Andheri [East], Mumbai – 400096,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
28.07.1999 |
|
|
|
|
Com. Reg. No.: |
11-121021 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U36911MH1999PTC121021 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK08289B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To carry on business as manufacturers of and / or dealers in, and importers
/ exporters, distributors of all kinds of Gold, Platinum and Silver
Jewellery, Diamonds, Semi-precious / precious Stones and other Nobel metals
of whatever description, Plain Gold / Platinum Mountings and all kinds of
similar precious stones and jewellery items. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory
track. Directors are reported as
experienced and respectable businessmen.
Trade relations are 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
|
Registered Office/ Factory : |
GJ – 15, SDF – VII, Seepz, Andheri [East], Mumbai – 400096,
Maharashtra, India |
|
Tel. No.: |
91-22-28292581-3 |
|
Fax No.: |
91-22-28292585 |
|
E-Mail : |
|
|
Website : |
http://www.kaprisa.com |
DIRECTORS
|
Name : |
Mr. Arunkumar Thapar |
|
Designation : |
Director |
|
Address : |
51, Panchsheel Apartment, 64 Pali Hill, Bandra, Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
26.09.1960 |
|
Date of Appointment : |
28.07.1999 |
|
DIN No. : |
00971649 |
|
|
|
|
Name : |
Ms. Sonica Thapar |
|
Designation : |
Director |
|
Address : |
51, Panchsheel Apartment, 64 Pali Hill, Bandra, Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
06.10.1965 |
|
Date of Appointment : |
28.07.1999 |
|
|
|
|
Name : |
Mr. Kuljas Rai Vohra |
|
Designation : |
Director |
|
Address : |
51, Panchsheel Apartment, 64 Pali Hill, Bandra, Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
03.11.1930 |
|
Date of Appointment : |
28.07.1999 |
|
DIN / PAN No. : |
99999999 |
|
Income – Tax Pan No. : |
AACPV7740C |
|
Passport No. : |
A2681499 |
|
|
|
|
Name : |
Ms. K. Lajya Vohra |
|
Designation : |
Director |
|
Address : |
51, Panchsheel Apartment, 64 Pali Hill, Bandra, Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
23.08.1942 |
|
Date of Appointment : |
15.09.2003 |
|
DIN No. : |
00805949 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Arunkumar Thapar |
|
1949990 |
|
Ms. Sonica Thapar |
|
10 |
BUSINESS DETAILS
|
Line of Business : |
To carry on business as manufacturers of and / or dealers in, and
importers / exporters, distributors of all kinds of Gold, Platinum and Silver
Jewellery, Diamonds, Semi-precious / precious Stones and other Nobel metals
of whatever description, Plain Gold / Platinum Mountings and all kinds of
similar precious stones and jewellery items. |
|
|
|
|
Products : |
Rings Pendants Earrings Necklace Bridals |
GENERAL
INFORMATION
|
Bankers : |
State Bank of
India Seepz Branch, Andheri, Mumbai - 400096 |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Narkar & Associates Chartered Accountants, |
|
Address : |
216, T. V. Industrial Estate, Off Annie Besant Road, Worli, Mumbai – 400025,
Maharashtra, India |
|
PAN No.: |
AAAPN4054B |
|
|
|
|
Associates : |
Gems Clasique & Trading Company Kita Shinsaibashi Building 4F 3-4-21, Minami Senba, Chuo-ku, Osaka,
542-0081 Japan Tel. No. : 81-6-6282-0178.0081 Fax No. : 81-6-6282-0179 Email : gems@ma.neweb.ne.jp
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1950000 |
Equity Shares |
Rs. 10/- each |
Rs. 19.500
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
19.500 |
19.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
6.803 |
5.034 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
26.303 |
24.534 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
16.947 |
15.794 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
16.947 |
15.794 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
43.250 |
40.328 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
21.063 |
21.952 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
26.271 |
30.976 |
|
|
Sundry Debtors |
|
32.481 |
44.274 |
|
|
Cash & Bank Balances |
|
0.695 |
0.386 |
|
|
Other Current Assets |
|
0.171 |
0.169 |
|
|
Loans & Advances |
|
1.459 |
0.730 |
|
Total
Current Assets |
|
61.077 |
76.535 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
36.989 |
56.652 |
|
|
Provisions |
|
1.942 |
1.562 |
|
Total
Current Liabilities |
|
38.931 |
58.214 |
|
|
Net Current Assets |
|
22.146 |
18.321 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.041 |
0.055 |
|
|
|
|
|
|
|
|
TOTAL |
|
43.250 |
40.328 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.12 |
3.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.56 |
1.31 |
LOCAL AGENCY
FURTHER INFORMATION
|
Name of the company |
KAPRISA
INTERNATIONAL PRIVATE LIMITED |
|
Presented By |
State Bank of
India, Seepz Branch, Andheri, Mumbai – 96 |
|
1) Date and description of instrument creating the change |
General Agmt. For the grant of Small Industrial Advances and Hypo. Of
Movables, Book debts, and other assets [W.C.F.] Ancillary Agmt. No. 1 Ancillary Agmt. No. 3 Ancillary Agmt. No. 6 All the above agmt’s are dt. 07.12.99 and executed for the creation of
a single charge |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 23.000 millions Raw material, semi finished good, finished goods : Rs. 5.000 millions Postshipment Credit : Rs. 5.500 millions Letter of Credit : Rs. 12.500 millions Total : Rs. 23.000 millions |
|
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 |
All present & future goods, bookdebts, movables, and other assets of
the borrower including documents of title to goods and assets such as,
outstanding moneys, receivables, claims, bills, invoices, documents,
contracts, engagements securities, investments, and rights and the present
and all future machinery. Raw materials,
semi finished goods, finished goods, bills, letter of credit & guarantees |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
R.O.I. : 2%
below SBAR. With a min. of 10% p.a. extent and operate – Margin : Raw
material, semi finished goods & Finished goods : 25% Letter of Credit
& Guarantees : 15% Bills : 25% |
|
5) Name and Address and description of the person entitled to the
charge. |
State Bank of
India Seepz Branch,
Andheri, Mumbai - 400096 |
|
6) Date and brief description
of instrument modifying the charge |
Suppl. General Agmt. For the grant of small industrial advances and
hypothecation of goods, bookdebts, and other assets [W.C.F.] Ancillary Agmt. No. 1 Ancillary Agmt. No. 3 Ancillary Agmt. No. 6 All the above agmt’s are dt. 05.02.2002 and executed for the creation
of a single charge |
|
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 original charge was created on 7.12.99 for Rs. 23.000
millions. Now by the present modfn.
Dt. 5.2.2002 the limit has been increased by Rs. 3.000 millions making total
to Rs. 26.000 millions. The limits are as follows : Export Packing Credit : Rs. 12.000 millions Post shipment Credit : Rs. 13.000 millions Guarantees : Rs. 1.000 million Total : Rs. 26.000 millions R.O.I. : 2.25% over SBAR with a min. of 13.75% p.a. Margin : Entire Stock of Raw materials i.e. Gold, Platinum, Diamonds and
Stock in process & Finished goods : 25% Export bills sent for collection & discounted : 25% Guarantees : 15% |
WEBSITE DETAILS
Kaprisa has a Japanese
connection. Its promoter, a Gemologist from Germany, has a well-established Gems
and Jewelry business in Japan, under the name and style of Gems Clasique and Trading Company.
Kaprisa was set up to
manufacture premium -quality diamond studded Platinum and Gold
Jewelry to cater to the sophisticated Japanese,
American and European markets.
The manufacturing unit is located in the Export Processing Zone, Mumbai
(India). The product range includes Bridal sets, Rings, Pendants, Bracelets,
Necklaces, Earrings etc.
Platinum Jewelry
Kaprisa specializes in the
manufacture of diamond studded Platinum jewelry (PT900, PT950) and meets
stringent quality control requirements of several satisfied Japanese, American
& European customers.
Gold Jewelry
Kaprisa also specializes in the
production of Diamond studded Gold fashion jewelry from higher to lower end.
The entire range is being manufactured in 18kt, 14kt, 10kt & 9kt.
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.44.56 |
|
UK Pound |
1 |
Rs.85.79 |
|
Euro |
1 |
Rs.58.40 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|