MIRA
INFORM REPORT
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Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
KOOSEN ENGINEENIRING PRIVATE LIMITED |
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Registered Office : |
1503, Yadav Building, Near Sadguru Bank, Kudalwadi – Chikhali, Pune –
412114, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1988 |
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Com. Reg. No.: |
049170 |
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CIN No.: [Company
Identification No.] |
U28999PN1988PTC049170 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK01132F |
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PAN No.: [Permanent
Account No.] |
AADCK2490A |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer of Plastic Products, Automotive, Electronic Compents. |
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 8485 |
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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 company having satisfactory
track. Directors are reported as experience and respectable businessman.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Paresh Mehta |
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Designation : |
Director |
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Date : |
02.08.2008 |
LOCATIONS
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Registered Office : |
1503, Yadav Building, Near Sadguru Bank, Kudalwadi – Chikhali, Pune –
412114, Maharashtra, India |
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Tel. No.: |
91-20-27491778 |
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Mobile No.: |
91-9822840909 |
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Fax No.: |
91-20-25461622 |
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E-Mail : |
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Location : |
Owned |
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DIRECTORS
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Name : |
Mr. Paresh Chinubhai Mehta |
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Designation : |
Director |
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Address : |
1, Shrinivas Palace, 40/30 Bhonde Colony, Pune – 411004, Maharashtra,
India |
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Date of Birth/Age : |
24.02.1958 |
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Qualification : |
B.Com |
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Date of Appointment : |
12.10.1988 |
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Name : |
Mrs. Aarti Paresh Mehta |
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Designation : |
Director |
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Address : |
1, Shrinivas Palace, 40/30 Bhonde Colony, Pune – 411004, Maharashtra,
India |
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Date of Birth/Age : |
03.01.1962 |
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Qualification : |
B.A. |
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Date of Appointment : |
01.04.1998 |
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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. Paresh Mehta |
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1681 |
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Mrs. Aarti Mehta |
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50 |
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AS ON 29.09.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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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 of Plastic Products, Automotive, Electronic Compents. |
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Products : |
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Terms : |
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Selling : |
Credit (30 days and 60 days) |
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Purchasing : |
100% Cash |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
15 |
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Bankers : |
Rupee Co- Operative Bank,
Chinchwad Branch, Pune - 411019 |
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Facilities : |
CC Limit – 0.100 Million |
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Auditors : |
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Name : |
Mr. Shireesh N. Agte Chartered Accountant |
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Address : |
461/1, Sadashiv Peth, Opp. New English School, Tilak Road, Pune – 411030,
Maharashtra, India |
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Tel. No.: |
91-20-24453592 |
CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 100/- Each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1731 |
Equity Shares |
Rs. 100/- Each |
Rs.0.173 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.173 |
0.173 |
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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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1.524 |
0.910 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.697 |
1.083 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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2.260 |
1.570 |
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TOTAL BORROWING |
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2.260 |
1.570 |
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DEFERRED TAX LIABILITIES |
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0.322 |
0.320 |
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TOTAL |
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4.279 |
2.973 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.518 |
1.600 |
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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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0.090 |
0.090 |
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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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1.578 |
1.146 |
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Cash & Bank Balances |
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0.012 |
0.011 |
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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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0.256 |
0.340 |
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Total
Current Assets |
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1.846 |
1.497 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.287 |
0.116 |
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Provisions |
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0.019 |
0.277 |
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Total
Current Liabilities |
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0.306 |
0.393 |
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Net Current Assets |
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1.541 |
1.103 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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SECURED LOANS – CASH CREDIT A/C |
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0.130 |
0.080 |
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TOTAL |
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4.279 |
2.973 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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5.553 |
4.017 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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5.553 |
4.017 |
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Profit/(Loss) Before Tax |
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1.320 |
1.049 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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1.320 |
1.049 |
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Expenditures : |
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Interest |
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0.227 |
0.189 |
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Depreciation & Amortization |
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0.189 |
0.123 |
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Other Expenditure |
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3.817 |
2.656 |
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Total Expenditure |
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4.233 |
2.968 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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23.77 |
26.11 |
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Net Profit Margin (PBT/Sales) |
(%) |
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23.77 |
26.11 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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29.63 |
32.91 |
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Return on Investment (ROI) (PBT/Networth) |
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77.78 |
96.86 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.51 |
1.50 |
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Current Ratio (Current Asset/Current Liability) |
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6.03 |
3.80 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
Lomax Industries Limited – Chinchor, Pune
Lomax Auto Technology – Bh., Pune
Amthenolintrcl India Private Limited - Pune
Form No. 8
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Name of the company |
KOOSEN ENGINEERING PRIVATE LIMITED |
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Presented By |
Rupee
Co- Operative Bank, Chinchwad Branch, Pune - 411019 |
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1) Date and description of instrument creating the change |
Hypothecation of
tangible goods/ movable property of secured term- loan A/c. Date – 24.04.1998 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.300 Million
Only |
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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
plastic injection modeling machine situated at 1503, Yadav Building,
Kudalewadi Chikhali Road, Chikhali, Pune |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Term loan limit
rate @ 18% p.a. margine of machinery 25% repayment 60 monthly installment of
Rs.7800/-+ interest. |
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5) Name and Address and description of the person entitled to the charge. |
Rupee
co-operative Bank Limited, Chinchwad Branch, Pune - 411019 |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
Trustseal Acceptance
Chart
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Existence Verification |
KOOSEN ENGINEERING PRIVATE LIMITED |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited |
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Income Tax Registration |
AADCK2490A |
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Central Sales Tax Registration |
27840034115C |
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VAT/ TIN Registration |
27840034115V |
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Name of Bank |
Rupee Co-operative Bank |
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Current Account Number |
201904-88 |
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Account Since |
1988 |
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Credibility Factors |
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IndiaMART Client Since |
3 Year |
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Years of Establishment |
1988 |
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Standards & Certifications |
ISO – 9001-2000 |
Web Details Attached
PROFILE
They Subject are the
distinguished manufacturer, exporter and supplier of high quality Ups Covers, Electronic
Connectors, Plastic Injection Molded Components, Injection Moldings, Plastic
Molding, Mud Flaps for automotive and other speciality industries. With a
distinguished belief to provide quality products, they continually adopt
innovative techniques in their unit. They use injection moulding process for
producing their plastic injection moulded components. Being one of the most
advanced processes, this is used to produce large number of identical items.
Strengthened with the continued support of their experts and technical
engineers, they have established a name to be reckon with in the industry. They
adhere to firm business ethics in their unit and resolutely develop standard
and custom designed products in compliance with the client's needs. They have
garnered huge clientele due to the flexible approach adopted in their unit.
PRODUCTS
Automotive Plastic Injection Molded Components
Their Automotive Plastic Injection Moulded Components have a wide spectrum of
applications due to the flexibility in size and shape possible. They have a
team of committed & dedicated personnel who design components in compliance
with the client's specifications. They produce components out of different
types of Raw material like Polycarbonate, Nylon, Polypropelene, PBT, Delrin
etc. They have Injection moulding machines ranging from 80 Tons to 180 Tons to
carry out the customers orders.
STRENGTHS
Quality Assurance
They are ISO 9001 : 2000 TUV Certified Company. All their Automotive
Plastic Injection Moulded Components cohering to the quality norms adopted
globally. They have an in-house facility to test the raw material and other
inputs. The finished products are duly checked and tested by the quality
management team in order to deliver high quality products to their valued
clients
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.42.37 |
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UK Pound |
1 |
Rs.84.01 |
|
Euro |
1 |
Rs.65.96 |
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 |
NO |
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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 |
|
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
|
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 |
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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 |
|
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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