MIRA
INFORM REPORT
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Report Date : |
29.10.2007 |
IDENTIFICATION DETAILS
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Name : |
KRISHNA CAP BOX PRIVATE LIMITED |
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Formerly Known as : |
KRISHNA FIBRES PRIVATE LIMITED |
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Registered Office : |
A – 10, Industrial Estate, Pratapur, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.06.1990 |
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Com. Reg. No.: |
012008 |
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CIN No.: [Company
Identification No.] |
U51109UP1990PTC012008 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTK00320F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Suppliers of Roll On Pilfer Proof Caps to
the Packing Industry. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
USD 24760 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by average 30 days |
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Litigation : |
Clear |
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Comments : |
Subject is an old established company having moderate track. The
company has accumulated losses of Rs.2.800 millions (31.03.2006). Profit making
is under severe pressure. The company’s payments are reported as slow by
average 30 days The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A – 10, Industrial Estate, Pratapur, |
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Tel. No.: |
91-121-2440578 |
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Mobile No.: |
91-9319309922 |
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Fax No.: |
91-121-2440555 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mrs. Daya Gupta |
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Designation : |
Director |
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Address : |
331, |
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Date of Appointment : |
17.06.2002 |
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Name : |
Mrs. Adrish Kumar Rastogi |
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Designation : |
Director |
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Address : |
B – 7, Jawahar Quarters, |
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Date of Appointment : |
17.06.2002 |
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Name : |
Mr. Merwin Prem Kumar David |
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Designation : |
Director |
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Address : |
E / 17, Tej Pal Singh Enclave, |
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Date of Birth/Age : |
27.02.1933 |
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Date of Appointment : |
31.08.2007 |
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Name : |
Mr. Akhila Nand Parikh |
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Designation : |
Director |
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Address : |
50, Chaitanya Puram, |
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Date of Birth/Age : |
04.12.1930 |
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Date of Appointment : |
31.08.2007 |
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Name : |
Mr. Manu Rastogi |
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Designation : |
Director |
KEY EXECUTIVE
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Name : |
Mr. B Singh |
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Designation : |
Company Secretary |
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C.P. No.: |
3559 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mrs. Krishna Rastogi |
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5063 |
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Mr. Adrish Rastogi |
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5000 |
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Mrs. Rashmi Rastogi |
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17181 |
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Mr. A.K. Rastogi HUF |
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9299 |
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Mrs. Kiran Rastogi |
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2500 |
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Mrs. Saroj Bala |
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8220 |
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Mrs. Vibha Rastogi |
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5000 |
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Mrs. Sushm Rastogi |
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2986 |
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Aggarwal Alloyas Private Limited |
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15000 |
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Mr. Sumnesh Rastogi |
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400 |
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Mr. A.K. Rastogi |
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500 |
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Mrs. Daya Gupta |
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1250 |
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Mr. A.N. Parikh |
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600 |
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O.P. Rastogi HUF |
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2001 |
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Category |
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Percentage of
Holding |
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Directors or Relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Suppliers of Roll On Pilfer Proof Caps to
the Packing Industry. |
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Products : |
˛
ROPP Caps ˛
Side Chamferred Caps ˛
R/O Caps ˛
Top embossed Caps |
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Exports : |
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Countries : |
North America, South America, Western Europe, Eastern Europe, Eastern
Asia, Southeast Asia, Mid East, Africa, Oceania |
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GENERAL INFORMATION
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No. of Employees : |
30 |
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Bankers : |
Syndicate Bank Main Branch, Medi
Centre, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S K Kumar and Company Chartered Accountants |
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Address : |
28, Harnam Das Raod, Civil Lines, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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75000 |
Equity Shares |
Rs.100/-
each |
Rs.7.500
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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7.500 |
7.500 |
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2] Share Application Money |
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1.500 |
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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(2.810) |
(4.122) |
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NETWORTH |
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6.190 |
3.378 |
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LOAN FUNDS |
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1] Secured Loans |
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7.257 |
7.299 |
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2] Unsecured Loans |
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1.073 |
0.380 |
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TOTAL BORROWING |
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8.330 |
7.679 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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14.520 |
11.057 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.762 |
5.050 |
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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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11.062 |
6.800 |
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Sundry Debtors |
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24.742 |
21.037 |
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Cash & Bank Balances |
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1.767 |
0.677 |
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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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0.953 |
1.719 |
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Total
Current Assets |
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38.524 |
30.233 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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28.632 |
24.196 |
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Provisions |
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0.134 |
0.030 |
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Total
Current Liabilities |
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28.766 |
24.226 |
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Net Current Assets |
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9.758 |
6.007 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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14.520 |
11.057 |
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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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65.746 |
41.506 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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65.746 |
41.506 |
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Profit/(Loss) Before Tax |
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1.446 |
0.385 |
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Provision for Taxation |
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0.134 |
0.000 |
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Profit/(Loss) After Tax |
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1.312 |
0.385 |
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Expenditures : |
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0.336 |
0.368 |
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Total Expenditure |
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KEY RATIOS
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PARTICULARS |
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31.03.2006
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31.03.2005 |
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PAT / Total Income |
(%) |
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1.99 |
0.92 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.19 |
0.92 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.34 |
0.01 |
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Return on Investment (ROI) (PBT/Networth) |
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0.23 |
0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.64 |
7.17 |
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Current Ratio (Current Asset/Current Liability) |
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1.33 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
Form 8:
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Name of the company |
KRISHNA CAP BOX PRIVATE
LIMITED |
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Presented
By |
Syndicate Bank,
Main Branch, |
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1) Date and description of instrument creating the change |
Composite
Hypothecation agreement dated – 28.11.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.500 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 |
Stock of raw materials,
Stock in process and finished goods consisting to be stored at the borrowers
premises at A- 10, Industrial Estate, Partapur, All Present
future books debts, outstanding, monies receivable, claim, bills etc Hypothecation of
all existing machineries as detailed in part schedule 3 of the composite
hypothecation agreement |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin: 25%.
Payable on demand |
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5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank Main Branch, Medi
Centre, |
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6) Date and brief description of instrument modifying the charge |
Composite
hypothecation agreement dated 03.03.2005 |
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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. |
Limit has been
increased to Rs.6.000 millions |
As Web Details
Company profile:
Subject
is a unit of Om Metal Group. It has been in existence for the last 30 years
Subject is the manufacturer, Supplier and Exporter of Roll On Pilfer Proof (
ROPP ) Caps to the packaging Industry. The Group has Multiple Production Units
having a huge Production Capacity.
They
are committed to provide their customers to the best Quality Products at the
lowest possible Prices. Subject is a one stop solution to all its customers
need on time with consistent standards. This is especially important to many
customers who have international supply Obligations.
Subject
in conjunction with other Om Metal Group Companies is rapidly achieving its
goal to become the leader in the industry. Their main Clients are the
Distillers and Pharmaceutical giants.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.39.51 |
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1 |
Rs.81.16 |
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Euro |
1 |
Rs.56.76 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
YES |
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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 |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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29 |
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. |
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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