MIRA
INFORM REPORT
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Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
KRISHNA COOK-WARES PRIVATE LIMITED |
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Registered Office : |
305/6, Bhoomi Tower ‘A’ Kalikund Jain Mandir, Nehru Road, Santacruz,
Mumbai-400055, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.09.1993 |
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Com. Reg. No.: |
11-73992 |
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CIN No.: [Company
Identification No.] |
U239300MH1993PTC073992 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM20477C |
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PAN No.: [Permanent
Account No.] |
AAACK1839L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Kitchen
Appliances like non-stick cookware, metallic cookware etc. |
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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Maximum Credit Limit : |
USD 29000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Trade relations
are fair. Scale of activity is limited. No complaints have been heard from
market sources. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Avinash Jha |
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Designation : |
Account Manger |
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Contact No.: |
91-9967799474 |
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Date : |
02.12.2008 |
LOCATIONS
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Registered Office : |
305/6, Bhoomi Tower ‘A’ Kalikund Jain Mandir, Nehru Road, Santacruz,
Mumbai-400055, Maharashtra, India |
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Tel. No.: |
91-22-26115511/ 26123321 |
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Mobile No.: |
91-9967799474 |
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Fax No.: |
91-22-26123320 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. 39/40, Vitthal Industrial Complex, Sanjan Ambgan Raod, Village
Dongari, Taluka Talasari, Thane-401606, Maharashtra, India |
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Tel. No.: |
91-2638-0266504/ 266604 |
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E-Mail : |
DIRECTORS
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Name : |
Mrs. Rashi Uttamchand Haria |
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Designation : |
Director |
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Address : |
C-32, Vivek Apartment, Podar Road, Santacruz, Mumbai-400014,
Maharashtra, India |
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Date of Birth/Age : |
26.01.1942 |
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Date of Appointment : |
16.09.1993 |
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Name : |
Mr. Kiran Uttamchand Haria |
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Designation : |
Director |
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Address : |
C-32, Vivek Apartment, Podar Road, Santacruz, Mumbai-400014,
Maharashtra, India |
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Date of Birth/Age : |
26.02.1969 |
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Date of Appointment : |
16.09.1993 |
KEY EXECUTIVES
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Name : |
Mr. Avinash Jha |
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Designation : |
Account Manger |
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Mobile No.: |
91-9967799474 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2007
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Names of Shareholders |
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No. of Shares |
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Rashi Uttamchand Haria |
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40100 |
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Kiran Uttamchand Haria |
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53600 |
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Sarla Hasmukha Nagda |
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20100 |
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Asha Kiran Haria |
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35100 |
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Dungershi Tokershi |
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1100 |
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Ranhsi Uttamchand Haria (HUF) |
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11800 |
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Kiran Uttamchand Haria (HUF) |
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10000 |
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Sushila U. Haria |
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16000 |
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Punjan Kiran Haria |
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5000 |
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Total |
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192800 |
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 |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Kitchen Appliances
like non-stick cookware, metallic cookware etc. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Suppliers : |
·
Aavkar Industries ·
Aarti Metal Works ·
Amrapali Industries ·
Aryan Cookware Private Limited ·
Bhagwati Enterprises ·
Carton Print ·
Chetan Packaging ·
Dharendra Industries ·
Dinesh Metal Works ·
Economics Enterprises ·
Mech Pack ·
Metal Man ·
Om Enterprises ·
Rose Steel Cover ·
S.P. Sinha and Company ·
S.K. Engineering Works ·
Sainath Packs ·
Sanjay Chemical Industries ·
Shree Balaji Traders ·
Shree Vallabh industries ·
Shivam Industries ·
Shiv-Shahi Industries ·
Sidhivinayak Industries ·
Soham Industries ·
Sonal Corporation ·
Suji Fastners ·
Sunil Metal Industries Private Limited ·
Super Tag ·
Tejas Plastics |
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Customers : |
Wholesalers and End Users ·
Cello Plastotech ·
Vyshakh Distributors ·
Nakoda Life Style Private Limited ·
Ambani Marketing ·
Aryan Non Stick Cookware Private Limited ·
Deepak Traders ·
DICOM – Maldives ·
Delma General Trading Exhibition ·
Gujaramal and Sons ·
Jayjiya Kitchen Centre ·
Kalpana Kraft ·
Kitchenex Private Limited ·
Lawerebce and Mayo India Private Limited ·
Meghdoot Appliances Limited ·
Oswal Trading Company ·
Purvi Trading Company ·
S.R. Trading ·
Sankalp Agencies ·
Shreeji Distributors |
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No. of Employees : |
2 |
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Bankers : |
·
Dena Bank, “Qureshi House”, Plot No.
1(A), 45, Jawaharlal Nehru Road, 6th Road, Santacruz East,
Mumbai-400055, Maharashtra, India ·
ICICI Bank Limited |
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Facilities : |
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Banking Relations
: |
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Financial Institute: |
Maharashtra State Financial Corporation, New Excelsior Building,
Keshav Nayak, Mumbai, Maharashtra, India |
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Auditors : |
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Name : |
B.M. Parekh Chartered Accountant |
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Address : |
3/211, Navjivan Society, Lamington Road, Mumbai-400008, Maharashtra,
India |
CAPITAL STRUCTURE
As on 30.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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192800 |
Equity Shares |
Rs. 10/-
each |
Rs. 1.928
Mullions |
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Total : |
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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 |
1.928 |
1.928 |
1.928 |
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2] Share Application Money |
0.100 |
0.100 |
0.100 |
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3] Reserves & Surplus |
3.967 |
3.958 |
3.856 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.995 |
5.986 |
5.884 |
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LOAN FUNDS |
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1] Secured Loans |
3.160 |
1.688 |
2.203 |
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2] Unsecured Loans |
2.769 |
4.049 |
4.004 |
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TOTAL BORROWING |
5.929 |
5.737 |
6.207 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
11.924 |
11.723 |
12.091 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.089 |
3.542 |
4.037 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
6.581 |
6.098 |
4.990 |
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Sundry Debtors |
3.257 |
2.539 |
3.518 |
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Cash & Bank Balances |
0.197 |
0.028 |
0.218 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
0.390
|
0.641 |
0.236 |
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Total
Current Assets |
10.425
|
9.306 |
8.962 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1.590
|
1.126 |
0.911 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
1.590
|
1.126 |
0.911 |
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Net Current Assets |
8.835
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8.180 |
8.051 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.003 |
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TOTAL |
11.924 |
11.723 |
12.091 |
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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 |
12.573 |
15.263 |
13.788 |
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Other Income |
0.156 |
0.112 |
0.173 |
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Total Income |
12.729 |
15.375 |
13.961 |
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Profit/(Loss) Before Tax |
0.009 |
0.141 |
0.178 |
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Provision for Taxation |
0.000 |
0.039 |
0.000 |
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Profit/(Loss) After Tax |
0.009 |
0.102 |
0.178 |
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Expenditures : |
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Direct Expenses |
2.271 |
2.350 |
2.249 |
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Administrative Expenses |
2.015 |
2.300 |
1.955 |
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Purchases made for re-sale |
8.449 |
11.133 |
7.429 |
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Increase/(Decrease) in Finished Goods |
[0.483] |
[1.108] |
1.522 |
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Depreciation & Amortization |
0.468 |
0.559 |
0.628 |
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Total Expenditure |
12.720 |
15.234 |
13.783 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.07
|
0.66 |
1.27 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.07
|
0.92 |
1.29 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.06
|
1.09 |
1.37 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00
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0.02 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.25
|
1.15 |
1.21 |
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Current Ratio (Current Asset/Current Liability) |
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6.56
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8.26 |
9.84 |
LOCAL AGENCY
FURTHER INFORMATION
Financial Results:
The company has earned a Net Profit of Rs. 0.008 Million during the
year. The Directors anticipated that the operations of the company shall
further improve for the year.
Fixed Assets:
·
Plot No. 39- Dongari
·
Plot No. 40- Dongari
·
Factory Building
·
Air Condition
·
Electrical Installation
·
Plant And Machinery
·
Dies and Tools
·
Fax Machine
·
Furniture and Fixtures
·
Computer
·
Motor Car
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified
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90153616 |
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Corporate
identity number of the company |
U239300MH1993PTC073992 |
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Name of the
company |
KRISHNA COOK-WARES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
305/6, Bhoomi Tower ‘A’ Kalikund Jain Mandir, Nehru Road, Santacruz,
Mumbai-400055, Maharashtra, India |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Dena Bank, “Qureshi House”, Plot No.
1(A), 45, Jawaharlal Nehru Road, 6th Road, Santacruz East,
Mumbai-400055, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation |
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Date of
instrument Creating the charge |
23.11.2007 |
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Amount secured by
the charge |
Rs. 5.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 14.5% p.a.
subject to change form time to time depending on the Bank’s / RBI policy on
monthly/ quarterly rests. Terms of
Repayment On Demand Margin 25% on raw
material and finished goods Extent and
Operation of the charge Security created
by way of first charge and to cover the principal amount together with
interest, costs, charges, expenses etc. Others Security created
in respect of Cash Credit limit |
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Short particulars
of the property charged |
All present and
future (i)
Stock in trade
consisting of raw materials, goods in process, semi finished and finished
goods, stores spares, packing materials etc. (ii)
Book debts,
outstanding receivables, moneys, bills, claims, cotracts, engagements and
rights to and in movable securities and assets (iii)
Plant and
Machinery, tools, stores, spares, accessories, equipments etc relating to
plant and machinery and other movable fixed assets, more particularly
described in the Annexure hereto |
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Date of latest
modification prior to the present modification |
20.03.2002 |
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.50.52 |
|
UK Pound |
1 |
Rs.75.08 |
|
Euro |
1 |
Rs.63.72 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
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|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
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--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 |
|
37 |
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 |
|