MIRA
INFORM REPORT
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Report Date : |
09.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
KAPILA ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
Shop No. 1 B/ 6, Commercial Centre, Janak Puri, New Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
12.09.1990 |
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Com. Reg. No.: |
55-41473 |
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CIN No.: [Company
Identification No.] |
U74899DL1990PTC041473 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK05568D |
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PAN No.: [Permanent
Account No.] |
AAACK1030F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealers and Traders of Household Electronics |
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 15000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established dealer of electronic goods. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Payments are correct and as per commitments. The company can be considered good for any normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Shop No. 1 B/ 6, Commercial Centre, Janak Puri, New Delhi, India |
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Tel. No.: |
91-11-25502838/ 25557559/ 25557560 |
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Fax No.: |
91-11-25512312 |
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E-Mail : |
kapilaelectronics@yahoo.co.in |
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Area : |
3000 sq. ft. |
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Location : |
Owned (commercial) |
DIRECTORS
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Name : |
Mr. Subhash Chander Kheterpal |
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Designation : |
Managing Director |
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Address : |
B – 1A/ 70A, Janak Puri, New Delhi – 110058, India |
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Date of Birth/Age : |
21/01/1947 |
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Date of Appointment : |
12/09/1990 |
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DIN No. : |
01016155 |
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Name : |
Mr. Kamal Kheterpal |
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Designation : |
Director |
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Address : |
B – 1A/ 70A, Janak Puri, New Delhi – 110058, India |
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Date of Birth/Age : |
05/09/1969 |
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Date of Appointment : |
12/09/1990 |
KEY EXECUTIVES
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Name : |
Mr. Subhash Kheterpal |
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Designation : |
Chief Executive |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Subhash Kheterpal |
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400 |
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Mr. Kamal Kheterpal |
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400 |
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Ms. Sheela Wanti |
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400 |
BUSINESS DETAILS
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Line of Business : |
Dealers and Traders of Household Electronics |
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Products : |
v Colour Television v Refrigerators v Air Conditioners v Electrical Appliances v Audio Systems v VCD and DVD Players v Washing Machine |
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Terms : |
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Selling : |
CAD |
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Purchasing : |
On Post dated Cheques, Open Credit, CAD (selling terms are
depends upon company) |
GENERAL
INFORMATION
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No. of Employees : |
Around 25 |
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Bankers : |
Indian Overseas Bank Centurion Bank of Punjab Limited Citi Bank Standard Chartered Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K R Madhra and Associates Chartered Accountants |
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Address : |
71/127, Prem Nagar, Janak Puri, New Delhi 110 058, India |
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PAN No.: |
AALPM8374J |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1200 |
Equity Shares |
Rs. 100/- each |
Rs. 0.120 million |
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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0.120 |
0.120 |
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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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3.504 |
1.889 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.624 |
2.009 |
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LOAN FUNDS |
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1] Secured Loans |
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19.865 |
18.107 |
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2] Unsecured Loans |
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2.131 |
1.342 |
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TOTAL BORROWING |
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21.996 |
19.449 |
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DEFERRED TAX LIABILITIES |
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0.019 |
0.044 |
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TOTAL |
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25.639 |
21.502 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.709 |
3.178 |
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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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22.220 |
19.868 |
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Sundry Debtors |
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1.035 |
3.823 |
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Cash & Bank Balances |
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0.482 |
2.257 |
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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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6.326 |
2.276 |
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Total
Current Assets |
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30.063 |
28.224 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.589 |
9.130 |
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Provisions |
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1.549 |
0.776 |
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Total
Current Liabilities |
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7.138 |
9.906 |
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Net Current Assets |
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22.925 |
18.318 |
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MISCELLANEOUS EXPENSES |
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0.005 |
0.006 |
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TOTAL |
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25.639 |
21.502 |
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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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Debt Equity Ratio (Total Liability/Networth) |
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8.03 |
14.61 |
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Current Ratio (Current Asset/Current Liability) |
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4.21 |
2.84 |
LOCAL AGENCY
FURTHER INFORMATION
Subject is an Authorized dealer for the following companies:
v AIWA
v Sharp
v Daewoo
v Onida
v LG Electronics
v Godrej
v Electrolux
v Panasonic
v BPL
v Sony
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Name of the company |
KAPILA
ELECTRONICS PRIATE LIMITED |
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Presented By |
HDFC BANK
LIMITED |
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1) Date and description of instrument creating the change |
Letter of Hypothecation of Receivables dt. 10.02.2006 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 1.500 millions |
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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 |
All the present and future receivables, which receivables may now or
hereafter arise from transactions of the borrower which transactions are paid
for through the use of debit or credit cards, whether Visa, Mastercard,
Diners’, Club, American Express or otherwise [and whether arising from the
use of point of sale terminals provided by the Bank or any other person or
through any other mechanism, including traditional swipe machines or
otherwise], including without limitation receivables and other receivables
that may arise in favour of the borrower from time to time |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
1. The facility
granted to the borrower is in the extent and operation nature of an overdraft
/ term loan facility 2. Bank is
entitled to charge interest at such rate as may be determined by the bank 3. The charge
and hypothecation shall continue to subsist till such time all the borrower’s
dues have been paid in full. The
borrower will at all times maintain a sufficient value of the receivables to
provide the margins of security required by the bank from time to time |
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5) Name and Address and description of the person entitled to the
charge. |
HDFC Bank
Limited HDFC Bank House,
Senapati Bapat Marg, Lower Parel, Mumbai – 400013 |
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6) Date and brief description
of instrument modifying the charge |
N.A. |
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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. |
N.A. |
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 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.44.22 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.58.03 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
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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46 |
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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