MIRA
INFORM REPORT
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Report Date : |
18.09.2007 |
IDENTIFICATION DETAILS
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Name : |
KIMAYA ENGINEERING WORKS PRIVATE LIMITED |
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Registered Office : |
Gat No. 627/1/1B, Plot No. 11, Kurli, Taluka Khed,
Pune-410501, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.03.1999 |
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Com. Reg. No.: |
25 - 013376 |
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CIN No.: [Company
Identification No.] |
U29299PN1999PTC013376 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK061490 |
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PAN No.: [Permanent
Account No.] |
AABCK1900B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Company is in engaged in trading Axel Arms, Auto spares parts
and Engineering goods |
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 22760 |
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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 having satisfactory track. 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 business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
Gat No. 627/1/1B, Plot No. 11, Kurli, Taluka Khed,
Pune-410501, Maharashtra, India |
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Tel. No.: |
91-20-4272013 / 4101694 |
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Fax No.: |
91-20-4101694 / 5817211 |
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E-Mail : |
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Location : |
Owned |
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DIRECTORS
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Name : |
Mr. Jagdish D. Agarwal |
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Designation : |
Director |
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Address : |
75, New Bazar, Kirkee Pune-411003 |
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Date of Birth/Age : |
03.05.1954 |
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Date of Appointment : |
02.04.1999 |
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Name : |
Mrs. Usha Jagdish Agarwal |
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Designation : |
Director |
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Address : |
75, New Bazar, Kirkee Pune-411003 |
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Date of Birth/Age : |
20.10.1959 |
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Date of Appointment : |
02.04.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Jagdish D. Agarwal |
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70000 |
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Mrs. Usha Jagdish Agarwal |
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30000 |
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TOTAL |
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100000 |
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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 : |
Company is in engaged in trading Axel Arms, Auto spares parts and Engineering goods. |
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Products : |
Axel Arms, Auto spares parts and Engineering goods. |
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GENERAL INFORMATION
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No. of Employees : |
40 |
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Bankers : |
˛ Shree Sadguru Jangli Maharaj Sahakari Bank Limited, Khadkee Branch ˛
The
Saraswat Co-Operative Bank Private Limited Pimpri Branch, Pune – 411018, E-Mail: incharge_pimpri@saraswatbank.comHDFC Bank ˛ ICICI Bank |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name: |
Vipin Gujrathi and Associates Chartered Accountants |
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Address : |
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Tel. No.: |
91-20-24275398 / 24275399 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
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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5.690 |
2.017 |
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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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4.690 |
1.017 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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5.690 |
2.017 |
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LOAN FUNDS |
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1] Secured Loans |
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10.674 |
8.709 |
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2] Unsecured Loans |
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7.974 |
6.932 |
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TOTAL BORROWING |
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18.648 |
15.641 |
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DEFERRED TAX LIABILITIES |
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0.536 |
0.000 |
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TOTAL |
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24.874 |
17.658 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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21.801 |
12.423 |
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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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0.100 |
0.100 |
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DEFERREX TAX ASSETS |
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0.000 |
1.336 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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6.942 |
2.856 |
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Sundry Debtors |
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5.455 |
2.400 |
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Cash & Bank Balances |
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0.052 |
0.012 |
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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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2.323 |
0.985 |
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Total
Current Assets |
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14.772 |
6.253 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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9.831 |
1.260 |
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Provisions |
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1.980 |
1.209 |
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Total
Current Liabilities |
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11.811 |
2.469 |
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Net Current Assets |
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2.961 |
3.784 |
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MISCELLANEOUS EXPENSES |
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0.012 |
0.015 |
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TOTAL |
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24.874 |
17.658 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Opening Balance B/f |
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1.017 |
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Add: Profit for the year |
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6.079 |
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Appropriation of Profit |
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(2.406) |
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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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2.07 |
1.22 |
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Current Ratio (Current Asset/Current Liability) |
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1.25 |
1.65 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
KIMAYA ENGINEERING PRIVATE LIMITED |
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Presented By |
Shree Sadguru Jangli Maharaj Sahakari Bank Limited |
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1) Date and description of instrument creating the change |
24.01.2000 Rs.0.500 million |
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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 and Sundry
Debtors ay the firm is hypothecation |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Cash Credit of
Rs.0.500 million with interest quarterly charged period of 3 years carrying
the interest @18%p.a.a |
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5) Name and Address and description of the person entitled to the charge. |
Shree Sadguru Jangli Maharaj Sahakari Bank Limited |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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Corporate
identity number (CIN) Foreign company registration number |
U29299PN1999PTC013376 |
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Name of the
Company |
KIMAYA ENGINEERING PRIVATE LIMITED |
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Address |
Gat No.627 / 1 / 1B, Plot No. 11, Kurli, Tal. Khed. Dist. Pune –
410501, |
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This form is for |
Creation of Charges |
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Type of Charge |
Movable property |
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Particulars of
the charge holder |
The Saraswat
Co-Operative Bank Private Limited Pimpri Branch,
Pune – 411018, E-Mail: incharge_pimpri@saraswatbank.com |
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Amount secured by
the charge |
Rs.2.200 millions |
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Brief of the
principal terms and conditions |
Rate of Interest @12%p.a. Terms of Payments From the date of
Disbursement as: 12EMI of Rs.0.195 million Margin: 30% Extent and
operation of the charge: Charge on the existing
machinery lying with the borrower at his place of business |
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Date of
Instrument creating or modifying the charge |
13.10.2006 |
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.40.47 |
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1 |
Rs.81.07 |
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Euro |
1 |
Rs.56.17 |
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. |
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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