MIRA
INFORM REPORT
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Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAMTRESS AUTOMATION SYSTEMS PRIVATE LIMITED |
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Formerly Known As : |
KAMTRESS AGENCIES PRIVATE LIMITED |
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Registered Office : |
# 7, Konankunte Industrial Area, Anjana Pura Main
Road, Bangalore - 560 062, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
21.08.1989 |
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Com. Reg. No.: |
08-10324 |
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CIN No.: [Company
Identification No.] |
U74140KA1989PTC010324 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK00689D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture
and Exporter of All Types of Electroplating Plants and Equipment. |
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 15000 |
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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 businessmen.
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 : |
Mrs. Lakshmi Chandrashekar |
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Designation : |
Director |
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Contact No.: |
91-9342164976 |
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Date : |
02.12.2008 |
LOCATIONS
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Registered Office/ Factory : |
# 7, Konankunte Industrial Area, Anjana Pura Main
Road, Bangalore - 560 062, Karnataka, India |
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Tel. No.: |
91-80-28436608/ 28436708 /
57721216/ 26320810 |
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Mobile No.: |
91-9342164976/ 9845016033 |
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Fax No.: |
91-80-28436608/ 28436708 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. ft. |
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Locations : |
Owned |
DIRECTORS
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Name : |
Mr. S. R. Chandrashekar |
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Designation : |
Managing Director/ Chief
Executive Officer |
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Address : |
C 302 Samrat Apartment, 39th Cross East and D MN. 9th
Block Jayanagar, Bangalore – 560069, Karnataka, India |
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Date of Birth/Age : |
19.12.1961 |
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Qualification : |
BE |
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Date of Appointment : |
21.10.1990 |
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Name : |
Mrs. Lakshmi Chandrashekar |
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Designation : |
Director |
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Address : |
C 302 Samrat Apartment, 39th Cross East and D MN. 9th
Block Jayanagar, Bangalore – 560069, Karnataka, India |
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Date of Birth/Age : |
10.01.1965 |
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Qualification : |
BE |
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Date of Appointment : |
25.09.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2008)
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Names of Shareholders |
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No. of Shares |
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S.
R. Chandrashekar |
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59500 |
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Lakshmi Chandrashekar |
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25500 |
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Total |
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85000 |
(As on 30.09.2008)
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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 : |
Manufacture
and Exporter of All Types of Electroplating Plants and Equipment. |
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Products : |
·
Tri Nickel Chrome Plating Process ·
Plating On Plastic Process ·
Phosphating Process ·
Anodising Process ·
Precious Metal Plating Process ·
Electro Polishing Process ·
Plating on PCBs for -
Through Hole metalization
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Copper Tin Lead Pattern Plate -
Horizontal Panel Plate (From PAL Hong Kong) -
Desmear / Blackoxide / Gold Plate |
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Export : |
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Products: |
Electroplating Plants and Equipment |
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Countries : |
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Imports : |
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Products: |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Credit (60 days), Advance |
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Purchases : |
Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
Manufacturer
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No of Employees : |
20 (Office – 10 and Factory –
10) |
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Bankers : |
SSI Branch, Bangalore South, J. C. Industrial Area, 11th K
M Off , Karnataka Road, Bangalore – 560062
Bangalore City
Branch, Hudson Circle, Bangalore – 560002 |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R Murli Chartered Accountants |
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Address : |
No. 6, Alcazar, 11/1 Infantary Road, Bangalore – 560001, Karnataka,
India |
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Name : |
Venkates Babu P. Chartered Accountants |
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Address : |
93/1, 2nd Floor, 7th Cross, 3rd Main,
Chnarajapet, Bangalore – 560018, Karnataka, India |
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Tel No.: |
91-80-26603521 |
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Mobile No.: |
91-9341249624 |
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Email : |
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Memberships : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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85000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.850 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.850 |
0.850 |
0.850 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.200 |
1.729 |
1.566 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.050 |
2.579 |
2.416 |
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LOAN FUNDS |
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1] Secured Loans |
0.737 |
3.156 |
2.401 |
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2] Unsecured Loans |
1.561 |
2.073 |
2.276 |
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TOTAL BORROWING |
2.298 |
5.229 |
4.677 |
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DEFERRED TAX LIABILITIES |
0.499 |
0.457 |
0.116 |
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TOTAL |
5.847 |
8.265 |
7.209 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.073 |
4.075 |
4.053 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.003 |
0.005 |
0.003 |
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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 |
9.530
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7.755 |
7.565 |
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Sundry Debtors |
19.201
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16.295 |
15.835 |
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Cash & Bank Balances |
1.456
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4.921 |
1.451 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
3.016
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1.057 |
1.420 |
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Total
Current Assets |
33.203
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30.028 |
26.271 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
30.297
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25.142 |
22.441 |
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Provisions |
1.135
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0.701 |
0.677 |
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Total
Current Liabilities |
31.432
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25.843 |
23.118 |
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Net Current Assets |
1.771
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4.185 |
3.153 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.847 |
8.265 |
7.209 |
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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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Sales Turnover |
61.403 |
82.532 |
51.389 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
61.403 |
82.532 |
51.389 |
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Profit/(Loss) Before Tax |
0.949 |
0.896 |
0.577 |
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Provision for Taxation |
0.478 |
0.733 |
0.465 |
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Profit/(Loss) After Tax |
0.471 |
0.163 |
0.112 |
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Expenditures : |
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50.812 |
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Total Expenditure |
60.454 |
81.636 |
50.812 |
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 |
(%) |
0.77
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0.20 |
0.21 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.55
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1.09 |
1.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.55
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2.63 |
1.90 |
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Return on Investment (ROI) (PBT/Networth) |
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0.31
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0.35 |
0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
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11.06
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3.65 |
11.50 |
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Current Ratio (Current Asset/Current Liability) |
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1.06
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1.16 |
1.14 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- BHEL –
Haridware
- ITI -
Bangalore
Form 8:
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Corporate
identity number of the company |
U74140KA1989PTC010324 |
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Name of the
company |
KAMTRESS AUTOMATION SYSTEMS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
# 7, Konankunte Industrial Area, (Near Harinagar Cross),
Anjanapura Main Road, Bangalore - 560062, Karnataka, India |
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This form is for |
Modification of charge |
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Type of charge |
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Particular of
charge holder |
Punjab National
Bank Hudson Circle
Branch, Bangalore – 560027, Karnataka, India |
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Nature of
instrument creating charge |
Hypothecation of
Goods and Book Debts to secure Cash Credit Facility Letter of
Continuity (Both the above
pertain to the same charges) |
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Date of
instrument Creating the charge |
05.02.2008 |
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Amount secured by
the charge |
Rs. 8.050
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: 14.50% p.a. being
1.5% above BPLR or such rate as may be prescribed by the bank from time to
time. Terms of
Repayment: CC – Repayable on
Demand Margin: CC – 25% On
Stock; 40% on Book Debts LG – 20% for
performance guarantee Extent and Operation
of the charge: The charge shall
operate to the extent of Rs.8.050 Millions plus Interests, Commission, Costs,
Expenses and Other Charges thereon Others: The said amount
of Rs.8.050 Millions Comprises of CC – Rs.4.000 Millions, LG – Rs.1.000 Million
Specific Onetime LG Rs.3050 Millions |
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Name of the
company |
KAMTRESS AUTOMATION SYSTEMS PRIVATE LIMITED |
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Presented By |
Ms. Lakshmi S. C., Director |
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1) Date and description of instrument creating the change |
19.10.2002 Agreement of
Hypothecation of goods to secure a demand cash credit dated 19.10.2001 Memorandum of
equitable mortgage of land and building Registered on
07.12.2001 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Limit
: Rs. 0.200 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 |
Hypothecation in
favour of Punjab National Bank, Bangalore City branch, Hudson Circle branch,
Bangalore of all Stock of Raw Materials, Finished goods and Tools Equitable
Mortgage of Land situated at Sy. No.
29/1, B Konanakunte Village, Uttarahalli Hobli, Bangalore and Building
constructed thereon belonging to the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per the terms
of sanction, all the documents executed on 19.10.2001 already filed with R.
O. C. on 16.11.2001 Cash credit limit
is subject to one year repayment. Rate of interest
14.5 % p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank Bangalore City
Branch, Hudson Circle, Bangalore – 560002 |
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6) Date and brief description of instrument modifying the charge |
Date 22.11.2003 Agreement of
Hypothecation of goods to secure a demand cash credit dated 22.11.2003 Agreement of
guarantee and general counter indemnity Letter of
continuity dated 22.11.2003 Extension of equitable
mortgage of land and building Supplemental
agreement. |
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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. |
C. C. limit
enhanced form Rs. 1.200 Millions to Rs. 3.000 Millions and Letter of
guarantee limit Rs. 5.000 Millions Rate of Interest
: 13.00 % p.a. Sanction period
one Year. |
Fixed Assets:
- Land
- Building
- Machinery
- Office Equipment
- Furniture
- Vehicles
- Computers
- Software
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
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Indian Rupees |
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US Dollar |
1 |
Rs.49.90 |
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UK Pound |
1 |
Rs.74.30 |
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Euro |
1 |
Rs.63.42 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
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 |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
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 |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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