MIRA
INFORM REPORT
|
Report Date : |
08.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
KUMARAM RUBBER GOODS MANUFACTURING COMPANY PRIVATE LIMITED |
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Registered Office : |
32, Nityanand Nagar, No. 3, 25-27, S. N. Road, Andheri (East),
Mumbai-400069, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.02.1983 |
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Com. Reg. No.: |
11-29324 |
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CIN No.: [Company
Identification No.] |
U25100MH1983PTC029324 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK16332B |
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PAN No.: [Permanent
Account No.] |
AAACK5782A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Sports Products, Foot ball, Table Tennis,
Cricket Stumps, Bat, Ball, Racquet etc. |
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 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Financial position is satisfactory. 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. Sunil Maheshwari |
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Designation : |
Account and Finance Manager |
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Contact No.: |
91-9320696965 |
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Date : |
07.08.2008 |
LOCATIONS
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Registered Office : |
32, Nityanand Nagar, No. 3, 25-27, S. N. Road, Andheri (East),
Mumbai-400069, Maharashtra, India |
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Tel. No.: |
91-22-26835877/ 66778880 |
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Mobile No.: |
91-9320696964/ 9320696965 |
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E-Mail : |
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Website : |
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Area : |
450 sq. ft (Owned) |
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Factory : |
Plot No. C-4/2/1, MIDC Area, Tarapur, Maharashtra, India |
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Tel. No.: |
91-9525-25272114 |
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Area : |
14000 sq ft (Owned) |
DIRECTORS
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Name : |
Mr. Chandraprakash Maheshwari |
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Designation : |
Director |
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Address : |
32, Nityanand Nagar, III, 25-27, Swami Nityanand Road, Andheri (East),
Mumbai-400069, Maharashtra, India |
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Date of Birth/Age : |
08.07.1960 |
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Qualification : |
B.Com, C.A |
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Date of Appointment : |
15.10.1992 |
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Name : |
Mr. Shashi Chandraprakash Maheshwari |
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Designation : |
Director |
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Address : |
32, Nityanand Nagar III, 25-27, Swami Nityanand Road, Andheri (East),
Mumbai-400069, Maharashtra, India |
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Date of Birth/Age : |
29.11.1965 |
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Qualification : |
B.A |
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Date of Appointment : |
25.03.2003 |
KEY EXECUTIVES
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Name : |
Mr. Sunil Maheshwari |
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Designation : |
Account and Finance Manager |
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Mobile No.: |
91-9320696965 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 15.06.2006
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Names of Shareholders |
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No. of Shares |
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Gopal K Maheshwari |
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60000 |
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Govind P Maheshwari |
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20000 |
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Shashi Maheshwari |
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120000 |
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Chandra P Maheshwari |
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159800 |
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Swati Maheshwari |
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20000 |
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Aditi Maheshwari |
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20000 |
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Total |
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399800 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Sports Products, Foot ball, Table Tennis,
Cricket Stumps, Bat, Ball, Racquet etc. |
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Products : |
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Imports : |
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Products : |
Sports Goods Products |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit ( 30 Days) |
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Purchasing : |
Cash and Credit ( 30-60 Days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
53 (Office 3, Factory 50) |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N.I. Anand and Company Chartered Accountant |
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Address : |
13, Silk House, 630, J. Shankar Shet Road, Mumbai-400002, Maharashtra,
India |
CAPITAL STRUCTURE
As on 28.06.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
399800 |
Equity Shares |
Rs. 10/-
each |
Rs. 3.998
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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 |
3.998 |
3.998 |
3.998 |
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2] Share Application Money |
0.500 |
0.500 |
0.000 |
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3] Reserves & Surplus |
1.804 |
1.849 |
1.895 |
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4] (Accumulated Losses) |
[1.110] |
[1.213] |
[1.277] |
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NETWORTH |
5.192 |
5.134 |
4.606 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.250 |
0.471 |
0.321 |
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TOTAL BORROWING |
0.250 |
0.471 |
0.321 |
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DEFERRED TAX LIABILITIES |
0.247 |
0.241 |
0.000 |
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TOTAL |
5.689 |
5.846 |
4.927 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.877 |
4.008 |
3.550 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.010 |
0.010 |
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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 |
0.930 |
1.682 |
1.173 |
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Sundry Debtors |
1.647 |
1.115 |
0.772 |
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Cash & Bank Balances |
0.105 |
0.047 |
0.028 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
0.166 |
0.123 |
0.084 |
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Total
Current Assets |
2.848 |
2.967 |
2.057 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.970 |
1.122 |
0.675 |
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Provisions |
0.066 |
0.017 |
0.005 |
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Total
Current Liabilities |
1.036 |
1.139 |
0.680 |
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Net Current Assets |
1.812 |
1.828 |
1.377 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.689 |
5.846 |
4.927 |
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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 |
8.434 |
4.649 |
4.330 |
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Other Income |
0.000 |
0.002 |
0.017 |
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Total Income |
8.434 |
4.651 |
4.347 |
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Profit/(Loss) Before Tax |
0.165 |
0.106 |
0.086 |
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Provision for Taxation |
0.000 |
0.042 |
0.069 |
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Profit/(Loss) After Tax |
0.165 |
0.064 |
0.017 |
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Expenditures : |
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Raw Material Consumed |
0.000 |
2.467 |
2.227 |
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Consumption of stores and spares parts |
0.000 |
0.770 |
0.734 |
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Payment to Auditors |
0.000 |
0.011 |
0.010 |
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Insurance Expenses |
0.000 |
0.009 |
0.008 |
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Power & Fuel |
0.000 |
1.028 |
0.927 |
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Depreciation & Amortization |
0.163 |
0.000 |
0.000 |
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Other Expenditure |
8.106 |
0.260 |
0.355 |
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Total Expenditure |
8.269 |
4.545 |
4.261 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.96
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1.38 |
0.39 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.96
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2.28 |
1.99 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.45
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1.52 |
1.53 |
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Return on Investment (ROI) (PBT/Networth) |
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0.03
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0.02 |
0.02 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.25
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0.31 |
0.22 |
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Current Ratio (Current Asset/Current Liability) |
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2.75
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2.60 |
3.02 |
LOCAL AGENCY FURTHER
INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence Verification |
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Name |
KUMARAM RUBBER GOODS MANUFACTURING COMPANY PRIVATE LIMITED |
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Statutory Approvals |
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Income Tax Registration |
AAACK5782A |
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Central Sales Tax Registration |
27580397329C |
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VAT/ TIN Registration |
27580397329V |
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Name of Bank |
Saraswat Co-operative Bank |
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Current Account Number |
103761 |
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Credibility Factors |
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IndiaMART Client Since |
New Member |
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Turn Over |
07-08 Rs. 10.000 Millions |
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Turn Over Year |
08-09 Rs. 20.000 Millions |
Trade References:
- Kisan
Moulding Limited, Tarapur
- Uma Gayatri
Traders, Surat
- Sanclow Sales
Corporation, Madurai
Bankers Charges
Report as per Registry
|
Name of the company |
KUMARAM RUBBER GOODS MANUFACTURING COMPANY PRIVATE LIMITED |
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Presented By |
State Bank of
India, Parel Branch, Mumbai-400013, Maharashtra, India |
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1) Date and description of instrument creating the change |
A) General Agreement
for the grant of Medium Term Advances to Small Scale Industries and
Hypothecation of movables book debts and other assets dated 08.02.1993 B) Ancillary
agreement ‘A’ dated 08.02.1993 C) Ancillary
Agreement ‘B’ dated 08.02.1993 All the above Agreements
creates a single modification. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.695 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 |
All present and
future goods book debts movables and other assets including documents of
title to goods such as outstanding moneys, receivables, claims, bills,
invoices, contract engagements, securities, investments, rights and assets
and present and future machinery. Factory premises situated on Plot No.
)C-4/2/1 MIDC Carapur District, Thana, Maharashtra) |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest: SBAR Minimum of
18.5% p.a. Repayment: 1st
quarterly installments of Rs. 0.141 Millions on every 7th of the
month. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India, Lower Parel Branch, Mumbai-400013, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
AS PER WEBSITE
Profile:
Subject was established in 1983 as manufacturer, exporter and supplier
of sports goods and rubber products. They have climbed the success ladder
steadily under the able guidance of the chairman Mr. Chandra Prakash Maheshwari and CEO- Mr. Gopal Krishna Maheshwari.
Empowered with modern infrastructure and skilled personnel's they
manufacture the products in sync with international standards. Besides, they
also are engaged in the import of various sports goods to meet with the demands
of the customers. They have an efficient network to deal with their varied
customers.
They endeavor to maintain standard of excellence in the sports industry and
provide complete satisfaction to their esteemed customers. To meet the
increasing demands of their valued clientele, they are manufacturing and
importing new products every year.
Awards and Achievements
The vision of the mentors and sincere efforts of their workforce have
made us to receive highest awards in sports goods by government continuously.
They are one of the recipients of meritorious certificates from A.I.T.A. They
also participate every year in rubber expo where the gamut of products are highly
appreciated .
Quality Assurance
They strictly follow the quality standards in the products. They have
in- house testing facility in the testing lab. The rubber technologists ensures
qualitative sports goods . Regular testing is done on random basis for all
products to enhance the credibility of the products. The quality compliance can
be seen in the performance of the established players. The sports goods have
following a quality that makes the company well recognized in the sports goods
industry:
- Shape
retention quality
- Durable
- Fine finish
Infrastructure and Team
They possess a modernized and comprehensive infrastructure, which is
well equipped to design and manufacture variety of sports goods. The machines
are highly efficient to deliver bulk products in short time. Utilizing latest
software and techniques they provide customized designs to the products. The
technology used in manufacturing these products is regularly upgraded with
changing trends and technology that boosts the market share. They have in-house
design unit and production unit in Tarapur that are Well Equipped With
following latest Machines:
- Dispersion
Kneaders.
- Mixing Mills.
- Hydraulic
Presses.
- Electrical
Dryer.
- Extruders.
- Power
Presses.
- Punching and
Stamping Machine.
- Grinders.
Warehousing and Packaging
They store the sports goods in warehouse which are specifically
constructed to store variety of the products. The storage facility is spacious
enough to store manufactured products for the prompt delivery. Fire safety arrangements
and congenial atmosphere of warehouse ensures protective storage of the
products.
They ensure safe delivery of the products by using high quality
packaging materials. To satisfy the clients’ needs they provide customized
packaging and prompt delivery of bulk order in short period of notice.
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.41.89 |
|
UK Pound |
1 |
Rs.81.73 |
|
Euro |
1 |
Rs.64.81 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|
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 |
|