BUSINESS INFORMATION REPORT
1. Summary Information
|
Company Name |
IDEAS MODULAR KITCHENS – DIVISION OF RANJAN KHOSLA AND SONS PRIVATE
LIMITED |
Principal Name 1 |
RANJAN KHOSLA |
|
Status |
SMALL COMPANY |
Principal Name 2 |
SEEMA KHOSLA |
|
Street Address |
A – 11, Rajouri Garden, New Delhi – 110 027 |
||
|
Established Date |
30.04.1996 |
SIC Code |
-- |
|
Telephone# |
91-11-25100176/25101663 |
Business Style 1 |
IMPORTER |
|
Fax # |
91-11-25101663 |
Business Style 2 |
DEALER |
|
Homepage |
Product Name 1 |
MODULAR KITCHENS AND ACCESSORIES |
|
|
# of employees |
20 |
Product Name 2 |
WARDROBE ACCESSORIES |
|
Paid up capital |
Rs.3,000,000 |
Product Name 3 |
- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS-100% |
Banking |
INDIAN OVERSEAS BANK |
|
Public Limited Corp. |
No |
Business Period |
12 YEARS |
|
IPO |
- |
International Ins. |
-- |
|
Public Enterprise |
No |
Rating |
B |
|
Related Company |
|||
|
Relation |
Country |
Company Name |
CEO |
|
ASSOCIATES/SUBSIDIARIES |
INDIA |
NAMITA ESTATES PRIVATE LIMITED |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2006 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
421,000 |
Current Liabilities |
456,000 |
|
Inventories |
4,454,000 |
Long-term Liabilities |
7,313,000 |
|
Fixed Assets |
5,861,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
7,769,000 |
|
Invest& other Assets |
394,000 |
Retained Earnings |
361,000 |
|
|
|
Net Worth |
3,361,000 |
|
Total Assets |
11,130,000 |
Total Liab. & Equity |
11,130,000 |
|
Total Assets (Previous Year) |
7,854,000 |
|
|
|
P/L Statement as of |
31.03.2006 |
(Unit: Indian Rs.) |
|
|
Sales |
3,231,000 |
Net Profit |
123,000 |
|
Sales(Previous yr) |
2,193,000 |
Net Profit(Prev.yr) |
83,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
IDEAS MODULAR KITCHENS – DIVISION OF RANJAN KHOSLA AND SONS PRIVATE
LIMITED |
|
|
|
|
Registered Office : |
A – 11, Rajouri Garden, New Delhi – 110 027 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
30.04.1996 |
|
|
|
|
Com. Reg. No.: |
55-78577 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U70101DL1996PTC078577 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Importer, Dealer and Distributor of Modular Kitchens and Accessories
and Wardrobe Accessories. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 17000 |
|
|
|
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small company in its field. Trade relations
are fair. Scale of activity is limited. No complaints have been heard. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Ranjan Khosla |
|
Designation : |
Director |
|
Contact No.: |
Mobile no. 91-9810157462 |
|
Date : |
06.12.2008 |
LOCATIONS
|
Registered Office : |
A – 11, Rajouri Garden, New Delhi – 110 027, India |
|
Tel. No.: |
91-11-25100176/25101663 |
|
Mobile No.: |
91-9810157462 (Mr. Ranjan Khosla) |
|
Fax No.: |
91-11-25101663 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq ft |
|
Location : |
Rented |
|
|
|
|
Branch Office : |
M.G. Road, Adjoining Sahara Mall, Gurgaon, Haryana, India |
|
Area : |
2000 sq ft |
|
Location : |
Rented |
|
|
|
|
Warehouse 1 : |
SF – 97, 1st Floor, Galeria Market, DLF Phase IV, Gurgaon, Haryana,
India |
|
Area : |
1000 sq ft |
|
Location : |
Owned |
|
|
|
|
Warehouse 2 : |
A – 15, Rajouri Garden, New Delhi – 110 027, India |
|
Area : |
4000 sq ft |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Ranjan Khosla |
|
Designation : |
Director |
|
Address : |
J-145, Rajouri Garden, New Delhi – 110 027, India |
|
Date of Birth/Age : |
16.04.1965 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
30.04.1996 |
|
|
|
|
Name : |
Mrs. Seema Khosla |
|
Designation : |
Director |
|
Address : |
J-145, Rajouri Garden, New Delhi – 110 027, India |
|
Date of Birth/Age : |
10.01.1969 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
30.04.1996 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2006
|
Names of Shareholders |
No. of Shares |
|
Ranjan Khosla |
123100 |
|
Seema Khosla |
69100 |
|
Arjun Khosla |
40000 |
|
Ranjan Khosla and Sons HUF |
67800 |
|
Total |
300000 |
As on 30.09.2006
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer, Dealer and Distributor of Modular Kitchens and Accessories
and Wardrobe Accessories. |
|
|
|
|
Imports : |
|
|
Products : |
Modular Kitchen Products |
|
|
|
|
Terms : |
|
|
Purchasing : |
L/C and D/P |
GENERAL
INFORMATION
|
Customers : |
Retailers |
|
|
|
|
No. of Employees : |
20 |
|
|
|
|
Bankers : |
Indian Overseas Bank, Rajouri Garden Branch, A – 6, Rajouri Garden,
New Delhi – 110 027, India |
|
|
|
|
Facilities : |
CC – Rs.10.000 millions |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
Sushil Gulati and Associates Chartered Accountants Address: New Delhi Pradeep Saluja and Associates Chartered Accountants Address: 2/ 96, Subhash Nagar, New Delhi – 110 027, India |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Sales Turnover |
|
|
12.500 |
|
|
|
|
|
Expected Sales (2008-09): Above Rs.12.500 millions
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
3.000 |
3.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.361 |
0.238 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
3.361 |
3.238 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1.267 |
0.000 |
|
|
2] Unsecured Loans |
|
6.046 |
3.917 |
|
|
TOTAL BORROWING |
|
7.313 |
3.917 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
10.674 |
7.155 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
5.861 |
5.957 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
4.454 |
0.054 |
|
|
Sundry Debtors |
|
0.283 |
0.389 |
|
|
Cash & Bank Balances |
|
0.128 |
0.253 |
|
|
Other Current Assets |
|
0.010 |
0.000 |
|
|
Loans & Advances |
|
0.000 |
0.708 |
|
Total
Current Assets |
|
4.875 |
1.404 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.456 |
0.310 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.456 |
0.310 |
|
|
Net Current Assets |
|
4.419 |
1.094 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.394 |
0.104 |
|
|
|
|
|
|
|
|
TOTAL |
|
10.674 |
7.155 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
3.231 |
2.193 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
3.231 |
2.193 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.142 |
0.094 |
|
|
Provision for Taxation |
|
0.019 |
0.011 |
|
|
Profit/(Loss) After Tax |
|
0.123 |
0.083 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
|
0.101 |
0.125 |
|
|
Other Expenditure |
|
2.988 |
1.974 |
|
Total Expenditure |
|
3.089 |
2.099 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
3.81 |
3.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.39 |
4.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.32 |
1.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.04 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.31 |
1.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
10.69 |
4.53 |
LOCAL AGENCY
FURTHER INFORMATION
|
Name of the company |
RANJAN KHOSLA AND SONS PRIVATE LIMITED |
|
Presented By |
Indian Overseas Bank and Ranjan Khosla and Sons Private Limited |
|
1) Date and description of instrument creating the change |
DPN, F110A Letter
of Hypothecation, F110E Letter of Hypothecation all dated 08.11.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.500 millions |
|
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
stocks of kitchen accessories and equipments, furniture and fixtures, book
debts and all other current assets and fixed assets both present and future. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
First charge on
above assets is to secure the OCC limit of Rs.1.500 millions sanctioned to
the company. Interest is chargeable at 11.50% p.a. or at such other rates as
may be fixed by the bank from time to time with monthly rest |
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank, Rajouri Garden Branch, New Delhi – 110 027,
India |
|
6) Date and brief description of instrument modifying the charge |
NIL |
|
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. |
NIL |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
80036380 |
|
Corporate
identity number of the company |
U70101DL1996PTC078577 |
|
Name of the
company |
RANJAN KHOSLA AND SONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
A – 11, Rajouri Garden, New Delhi – 110 027, India |
|
Type of charge |
Immovable
Property Book Debts Movable Property Others (Stocks,
BD, CA and FA, Immovable Property) |
|
Particular of
charge holder |
Indian Overseas Bank, Rajouri Garden Branch, A – 6, Rajouri Garden,
New Delhi – 110 027, India E-Mail: selvamkalai@sify.com |
|
Nature of
description of the instrument creating or modifying the charge |
Letter for
confirmation (applicable for limited companies) |
|
Date of
instrument Creating the charge |
14.08.2007 |
|
Amount secured by
the charge |
Rs.8.700 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Interest at minimum 14.5% p.a. or at such other rates as may be fixed by the
Bank from time to time. Terms of
Repayment: Repayment as per Bank norms Margin: Margin as
per Bank norms Extent and
Operation of the charge: First charge by way of hypothecation of stocks of
kitchen accessories and equipments etc., book debts, furniture and fixtures
and other current assets and fixed assets both present and future and E.M. of
property at A-15, (northern side) Rajouri Garden, New Delhi measuring 100 sq
yards is to secure the OCC (stocks, book debts) limit of Rs.8.700 millions
sanctioned to the company. |
|
Short particulars
of the property charged |
First charge by
way of hypothecation of stocks of kitchen accessories and equipments etc.,
book debts, furniture and fixtures and other current assets and fixed assets
both present and future and E.M. of property at A-15, (northern side) Rajouri
Garden, New Delhi measuring 100 sq yards. |
|
Date of latest
modification prior to the present modification |
13.08.2007 |
TRADE REFRENCES:
- FGV, Mumbai
- Hindware
Private Limited, Delhi
WEBSITE DETAILS:
PROFILE:
Kitchen is a haven
for housewives and others but it also can be a dreadful experience if it is not
well managed. Modular kitchens have become a rage in an age of glitz
because of their appearance and comfort. Ideas Modular Kitchens, a subsidiary of M/s. Ranjan Khosla
and Sons Private Limited, was
established in the year 1996, with
a vision to provide beautiful and comfortable modular kitchens with all the
basic and additional facilities. They are a well established manufacturer, exporter/importer and supplier of a comprehensive range of Indian and
imported modular kitchens and accessories and wardrobe accessories. The range includes Pantry and Tall
Units, Cabinet Corners and Pullouts, Baskets and Tray Pullouts, Railings and
Wall Utilities, Clothes Rack, Trouser Holders, Cloth's Hangers, Shoe Racks,
Sterilizers, Designer Inbuilt Hobs, and many more. These products are designed keeping in mind the comfort and safety of
the customers.
They manufacture and supply only highly durable and long lasting products. For them, what matters is the quality of the products and they go to great lengths to make sure that only high quality products are supplied to the customers. They are available in economical prices and they take pride in the fact that they are always delivered on time, thereby providing no problem or loss of precious time to the customers. They export the products throughout the world and the import market includes the regions of Hong Kong, Taiwan, China and Europe.
Product Range
Ideas Modular Kitchens has always been a leading provider of quality range of
modular kitchen, kitchen accessories and wardrobe accessories. They are a
leading and a trusted manufacturer, exporter, importer and supplier of the
following range of products:
|
Kitchen Accessories |
|
|
Pantry and Tall Unit |
Cabinet Corners
and Pullout |
|
Basket and Tray
Pullout |
Railing and Wall
Utility |
|
Kitchen Appliances |
|
|
Chimneys |
Sterilizers |
|
Designer Inbuilt
Hobs |
|
|
Wardrobe Accessories |
|
|
Clothes Rack |
Trouser Holder |
|
Clothes' Hanger |
Shoe Rack |
|
Wardrobe Lift |
Perfume and Talcum
Holder |
|
Tie Rack |
Belt Holder |
|
Hardware Components |
|
|
Tandem Box |
Metal Box |
|
Superlative Sliding Systems and Components |
|
|
Single Extension
Concealed Slides |
Telescopic
Channels |
|
Rubber Matt |
Aluminium Sheet |
|
Plastic Drawer
Organizer |
Cabinet Leg |
|
Aluminium Profiles |
|
|
Glass Shutter
Profile |
Glass Shelf
Profile |
|
Modular Kitchens |
|
Infrastructure
The infrastructural setup at Ideas Modular Kitchens is impeccable with all the
required facilities present in abundance to ensure smooth and uninterrupted
flow of production. The machines run on the most sophisticated and state of the
art technology and aid in faster pace of production. The workforce is a team of
highly skilled and dedicated employees who have a knack to always make great
strides in this field through their extra efforts and initiative. Timely
delivery of these products is ensured with the presence of a capacious
warehouse with the ability to store huge stock of the products and thereby meet
all the requirements of the customers efficiently.
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.48.52 |
|
UK Pound |
1 |
Rs.72.62 |
|
Euro |
1 |
Rs.63.76 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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 |
|