MIRA
INFORM REPORT
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Report Date : |
05.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAVERI INFRASTRUCTURE PRIVATE LIMITED |
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Formerly Known As : |
KAVERI BOREWELLS PRIVATE LIMITED |
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Registered Office : |
B-5, Kaveri House, Geetanjali Enclave, New Delhi – 110017 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.01.1994 |
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Com. Reg. No.: |
55-56916 |
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CIN No.: [Company
Identification No.] |
U74899DL1994PTC056916 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK06501F |
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PAN No.: [Permanent
Account No.] |
AABCK7148K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business of consultancy or to act as contractors,
engineers, collaborators, licences for drilling, boring of deep tubewells and
deep hand pumps and installation of various kinds of pumps and hand pumps. |
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 437932 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established infrastructure company having satisfactory
track. Their trade relations are fair. It’s payments are slow but correct. The company can be considered for normal business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
B-5, Kaveri House, Geetanjali Enclave, New Delhi – 110017, India |
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Tel. No.: |
91-11-26693154/ 55/ 56/ 57 |
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Fax No.: |
91-11-26693254 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Sushil Mehta |
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Designation : |
Managing Director |
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Address : |
A-29, Shivalik Malviya Nagar, New Delhi – 110017, India |
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Date of Birth/Age : |
05.04.1967 |
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Date of Appointment : |
12.03.2004 |
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Name : |
Mr. Vijay Kumar Kataria |
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Designation : |
Chairman |
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Date of Birth/Age : |
23.08.1957 |
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Date of Appointment : |
04.06.2002 |
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Name : |
Mrs. Asha Kataria |
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Designation : |
Director |
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Name : |
Mr. Ram Kumar Dudeja |
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Designation : |
Director |
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Address : |
26, DDA Flat, Sarvpriya Vihar, New Delhi – 110017, India |
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Name : |
Mr. Anurag Grover |
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Designation : |
Director |
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Address : |
E-192, Kalkaji, New Delhi – 110019, India |
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Date of Birth/Age : |
19.07.1972 |
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Date of Appointment : |
06.07.2006 |
KEY EXECUTIVES
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Name : |
K. K. Malhotra and Company |
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Designation : |
Company Secretary |
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Address : |
C-24, Pragati Market, Ashok Vihar, Phase – II, Delhi – 110052, India |
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Tel No.: |
91-11-2741889 |
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Fax No.: |
91-11-27211409 |
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Mobile : |
91-9810153573 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
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No. of Shares |
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Mr. Sushil Mehta |
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77010 |
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Mr. Vijay Kumar Kataria |
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642520 |
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Mrs. Asha Kataria |
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10 |
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Mr. Tarun Kumar |
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150050 |
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Mr. Madan Mohan Vadev |
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50 |
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Total |
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869640 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business of consultancy or to act as contractors,
engineers, collaborators, licences for drilling, boring of deep tubewells and
deep hand pumps and installation of various kinds of pumps and hand pumps. |
GENERAL
INFORMATION
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No of Employees : |
200 |
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Bankers : |
Chiragh Delhi,
New Delhi – 110030, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Arora Gupta and Goel Chartered Accountant |
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Address : |
1 Laxmi Chambers, 370-371, Hospital Road, New Delhi – 110014, India |
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Name : |
Ravinder Goel Chartered Accountant |
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Address : |
1 Laxmi Chambers, 370-371, Hospital Road, New Delhi – 110014, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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869640 |
Equity Shares |
Rs.10/- each |
Rs.8.696
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.696 |
8.696 |
8.696 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
100.787 |
102.244 |
83.080 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
109.483 |
110.940 |
91.776 |
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LOAN FUNDS |
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1] Secured Loans |
55.051 |
53.273 |
16.248 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
55.051 |
53.273 |
16.248 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
164.534 |
164.213 |
108.024 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
57.306 |
64.258 |
44.147 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
5.000 |
0.053 |
0.052 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
25.566
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52.325 |
3.723 |
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Sundry Debtors |
50.402
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30.936 |
49.702 |
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Cash & Bank Balances |
33.849
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45.638 |
40.071 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
23.179
|
15.063 |
31.085 |
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Total
Current Assets |
132.996
|
143.962 |
124.581 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
30.840
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44.156 |
53.850 |
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Provisions |
0.000
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0.000 |
7.027 |
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Total
Current Liabilities |
30.840
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44.156 |
60.877 |
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Net Current Assets |
102.156
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99.806 |
63.704 |
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MISCELLANEOUS EXPENSES |
0.072 |
0.096 |
0.121 |
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TOTAL |
164.534 |
164.213 |
108.024 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
206.758 |
224.877 |
415.678 |
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Other Income |
0.902 |
0.837 |
0.586 |
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Total Income |
207.660 |
225.714 |
416.264 |
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Profit/(Loss) Before Tax |
3.312 |
20.329 |
74.121 |
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Provision for Taxation |
4.769 |
1.165 |
8.919 |
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Profit/(Loss) After Tax |
(1.457) |
19.164 |
65.202 |
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Total Expenditure |
204.348 |
205.385 |
342.143 |
KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total
Income |
(%) |
(0.70)
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8.49 |
15.66 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.60
|
9.04 |
17.83 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.74
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9.76 |
43.93 |
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Return on Investment (ROI) (PBT/Networth) |
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0.03
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0.18 |
0.81 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.78
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0.88 |
0.84 |
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Current Ratio (Current Asset/Current Liability) |
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4.31
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3.26 |
2.05 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Name of the company |
KAVERI INFRASTRUCTURE PRIVATE LIMITED |
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Presented By |
Mr. Vijay Kumar Kataria |
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1) Date and description of instrument creating the change |
31.10.2003
Hypothecation of Goods to secure a Demand Cash Credit and Agreement of
Guarantee, Filed and Registered on 13th November, 2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.20.000
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 |
Hypothecation of
Goods and charge on current and fixed assets of the company |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interests @ 14%
p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank Chiragh Delhi,
New Delhi – 110030, India |
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6) Date and brief description of instrument modifying the charge |
22.09.2005
Hypothecation of Goods and Book Debts to Secure Cash Credit Facilities dated. |
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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. |
The fund based
limit has been increased from Rs.20.000 Millions to Rs.80.000 Millions (
Rs.40.000 Millions Fund Based limit and Rs.40.000 Millions Non Fund Based
Limit) with interests @ 2% p.a. over and above BPLR with minimum of 12.75% or
in case of CC ( Book Debts) interests will be payable @ 2% over and above
rates. |
History:
Established in 1989 by Mr. Vijay K. Kataria, Kaveri Group's
development and growth has been quite remarkable. Future plans based on this
strong foundation will propel them to the very pinnacle in their field.
The company's forward thinking and innovative management
team has built a strong and diversified company capable of taking them to the
very top of its specialist fields.
Four divisions from the backbone of the company, each
specializes in its chosen discipline and has a strong management team striving
for greater performance, commercial awareness and believes in providing a
quality service to their clients. These divisions' specialties are
- Contracting
- Consultancy
- Maintenance
- Manufacturing
These divisions are serviced by in-house workshops,
specialist manufacturing installations, HR Departments, SQE Department,
Financial Department and a strong and visionary Board of Directors.
They have successfully been major partners in many large and
important projects in India bringing improvements and relief to over 10 million
people. Also in collaboration with their partners from UK and USA, overseas
projects have benefited from technical input and support in multi-disciplined
works supplied by the Kaveri Group management team.
While striving for continuous improvements and recognizing
the need to learn and adopt international standards in Safety, Quality and
Environmental matters they have adapted the very latest and best system from
Europe and USA and refined them to suit Indian conditions. The various
management tools the company uses make them ideally placed to become one of
India's leading companies.
A strong financial base with an annual group turnover in
excess of Rs.500.000 Millions ($11,111,111) ensures our continued growth. Over
Rs.200.000 Millions ($4,444,444) has been invested to year ending 2003 to bring
the worlds latest and most powerful plant and machinery.
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.39.97 |
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UK Pound |
1 |
Rs.79.78 |
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Euro |
1 |
Rs.62.60 |
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 |
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
|
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. |
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 |
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