MIRA
INFORM REPORT
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Report Date : |
02.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
K B INDUSTRIES |
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Registered Office : |
Gat No. 145/1, Plot No. 16, 17, Saraswadi, Pune-Nagar Road, (Behind Rajendra
Hotel), Pune Nagar Road, Sanswadi, Shirur – 412208, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2006 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturing of Colour Cartons, Corrugated Boxes, Sheets and Rolls |
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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Status : |
New Concern |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern and proposes to commence manufacturing of
Corrugated Boxes. The proprietor has another concern by the name Adimaya Road
Carriers, which undertakes local transportation activities. Trade relations
are fair. Payments are reported as fair. Payments are reported as slow at
times but correct. It would be advisable to take adequate securities while dealing with
the subject. |
INFORMATION PARTED
BY
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Name : |
Mr. Kanhu Tukaram Kardile |
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Designation : |
Proprietor |
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Contact No.: |
91-9822275293 |
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Date : |
02.08.2008 |
LOCATIONS
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Registered Office : |
Gat No. 145/1, Plot No. 16, 17, Saraswadi, Pune-Nagar Road, (Behind
Rajendra Hotel), Pune Nagar Road, Sanswadi, Shirur – 412208, Maharashtra, India
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Mobile No.: |
91-9822275293 / 9850211045 / 996076212 |
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Area : |
10000 sq. ft. [Owned] |
SOLE PROPRIETOR
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Name : |
Mr. Kanhu Tukaram Kardile |
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Designation : |
Proprietor |
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Address : |
At Post Shikrapur, Bajrangwadi, Pune Nagar Road, Shirur Pune |
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Date of Birth/Age : |
01.06.1968 |
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Qualification : |
HSC |
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Experience : |
15 Years |
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PAN No. : |
AJGPK2899G |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Colour Cartons, Corrugated Boxes, Sheets and Rolls |
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Terms : |
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Selling : |
Credit / Cash |
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Purchasing : |
Credit / Cash |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sunil Shanoy and Associates Chartered Accountants |
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Address : |
681 B, Gajalaxmi Nivas DG Pune |
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Tel. No.: |
91-22-25533466 |
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Mobile No.: |
91-9890946372 |
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Associates/Subsidiaries : |
Adimaya Road Carriers Activities : Transportation |
CAPITAL STRUCTURE
AS ON 31.03.2008
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Capital Investment : |
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Owned : |
Rs. 0.328 Million |
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Borrowed : |
-- |
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Total : |
Rs. 0.328 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.328 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.328 |
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LOAN FUNDS |
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1] Secured Loans |
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0.065 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.065 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.393 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.027 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.626 |
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Cash & Bank Balances |
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0.100 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.726 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.360 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.360 |
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Net Current Assets |
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0.366 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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0.393 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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1.179 |
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Total Income |
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1.179 |
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Net Profit |
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0.074 |
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Expenditures : |
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Purchase |
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0.943 |
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Transport |
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0.057 |
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Labour Charges |
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0.029 |
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Advertisement |
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0.005 |
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Bank Charges |
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0.001 |
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ISO Consultation |
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0.020 |
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Legal Fees |
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0.008 |
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Printing and Stationery |
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0.001 |
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Professional Fees |
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0.025 |
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Salary |
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0.005 |
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Sales Tax |
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0.010 |
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Telephone |
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0.001 |
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Total Expenditure |
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1.105 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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6.28 |
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Net Profit Margin (PBT/Sales) |
(%) |
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6.28 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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9.83 |
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Return on Investment (ROI) (PBT/Networth) |
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0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.30 |
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Current Ratio (Current Asset/Current Liability) |
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2.02 |
LOCAL AGENCY FURTHER
INFORMATION
FIXED ASSETS
- Transport Vehicles
- Plot
- Motorcycle
ADIMAYA
ROAD CARRIERS
[Proprietor
Mr. Kanhu Tukaram Kardile]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.464 |
0.468 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.464 |
0.468 |
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LOAN FUNDS |
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1] Secured Loans |
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0.535 |
0.319 |
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2] Unsecured Loans |
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0.100 |
0.065 |
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TOTAL BORROWING |
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0.635 |
0.384 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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1.099 |
0.852 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.954 |
0.713 |
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Capital work-in-progress |
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0.000 |
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0.000 |
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INVESTMENT |
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0.010 |
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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0.000 |
0.000 |
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Sundry Debtors |
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0.772 |
0.045 |
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Cash & Bank Balances |
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0.159 |
0.031 |
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Deposits |
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0.014 |
0.065 |
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Other Expenditure |
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0.074 |
0.000 |
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Total
Current Assets |
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1.019 |
0.141 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.884 |
0.002 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.884 |
0.002 |
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Net Current Assets |
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0.135 |
0.139 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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1.099 |
0.852 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Transport Receipts |
4.395 |
2.621 |
1.690 |
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Other Income |
0.006 |
0.000 |
0.000 |
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Total Income |
4.401 |
2.621 |
1.690 |
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Net Profit |
0.335 |
0.305 |
0.250 |
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Expenditures : |
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Bank Interest |
0.002 |
0.011 |
0.024 |
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Printing and Stationery |
0.003 |
0.005 |
0.004 |
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Telephone Charges |
0.037 |
0.026 |
0.010 |
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Petrol and Diesel Expenses |
0.950 |
1.085 |
0.755 |
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Salary |
0.251 |
0.145 |
0.144 |
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Office Expenses |
0.000 |
0.016 |
0.005 |
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Vehicle Maintenance |
1.939 |
0.146 |
0.048 |
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Bank Charges |
0.002 |
0.003 |
0.001 |
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Vehicle Insurance |
0.028 |
0.024 |
0.016 |
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Finance Charges |
0.000 |
0.058 |
0.028 |
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Depreciation |
0.261 |
0.357 |
0.237 |
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Other Expenditure |
0.593 |
0.440 |
0.168 |
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Total Expenditure |
4.066 |
2.316 |
1.440 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
7.61
|
11.64 |
14.79 |
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Net Profit Margin (PBT/Sales) |
(%) |
7.62
|
11.64 |
14.79 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
16.98
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NA |
29.27 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.72
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NA |
0.53 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.27
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NA |
1.12 |
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Current Ratio (Current Asset/Current Liability) |
|
1.15
|
NA |
0.01 |
MR. KANHU
TUKARAM KARDILE
[Proprietor
: Adimaya Road Carriers and K B Industries]
ABRIDGED BALANCE
SHEET
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
Share Capital |
|
0.793 |
0.533 |
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Secured Loans |
|
0.536 |
0.600 |
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Unsecured Loans |
|
0.165 |
0.100 |
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Current Liabilities and Provision |
|
1.246 |
0.086 |
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Gross Turnover and Gross Receipts |
|
5.574 |
2.621 |
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Gross Profit |
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1.164 |
0.999 |
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Interest Received |
|
0.006 |
0.000 |
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Interest Paid |
|
0.019 |
0.011 |
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Depreciation as per books of account |
|
0.261 |
0.357 |
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Net Profit [or Loss] before tax |
|
0.409 |
0.305 |
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Taxes on Income |
|
0.066 |
0.037 |
RATIO
|
Gross Profit Ratio |
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Net Sales and Transport Charges as per
Accounts |
5.574 |
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Gross Profit as per accounts |
1.164 |
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Gross Profit Ratio |
21 % |
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Net Profit Ratio |
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Net Sales and Transport Charges as per
Accounts |
5.574 |
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Gross Profit as per accounts |
0.409 |
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Gross Profit Ratio |
7.33 % |
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Stock in Trade / Turnover |
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Stock as per Accounts |
0.000 |
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Turnover as per Accounts |
5.574 |
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Ratio |
0 % |
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Material Consumed / Finished Goods Produced |
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Material Consumed as per account |
NA |
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Turnover as per Account |
5.574 |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.37 |
|
UK Pound |
1 |
Rs.84.01 |
|
Euro |
1 |
Rs.65.96 |
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 |
|