MIRA INFORM REPORT

 

 

Report Date :

05.02.2008

 

IDENTIFICATION DETAILS

 

Name :

KEJRIWAL PAPER USA LIMITED

 

 

Registered Office :

10th West, 46th Street, 7th Floor, New York, NY-10036

 

 

Country :

United States

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

2004

 

 

EMP ID No. :

20-0091745

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Trader, Importer and Exporter of Note Books, Exercise Books, Paper and Paper Allied Stationery Products.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

LOCATIONS

 

Registered Office :

10th West, 46th Street, 7th Floor, New York, NY-10036, United States

Tel. No.:

1-1-212 869 9407

Mobile No.:

1-908 874 8227

Fax No.:

1-212 382 3309

E-Mail :

kpusa@kejriwalgroup.net

Website :

http://www.kejriwalgroup.net

Location :

Owned

 

 

DIRECTORS

 

Name :

Mr. Rahul Kejriwal

Designation :

Director

Address :

36, Prabhat Building, 28 B Road Churchgate, Mumbai

Date of Birth/Age :

45 years

Qualification :

Graduate

Experience :

23 years

 

 

Name :

Mrs. Rachna Kejriwal

Designation :

Director

Address :

36, Prabhat Building, 28 B Road, Churchgate, Mumbai

Date of Birth/Age :

40 years

Qualification :

Graduate

Experience :

20 years

 

 

Name :

Mr. Ramanan Raghuvendran

Designation :

Director

Address :

16th West, 29th Street, # 6 New York, NY 10001

Date of Birth/Age :

40 years

Qualification :

Graduate

Experience :

20 years

 

 

MAJOR SHAREHOLDERS

 

Names of Shareholders

 

No. of Shares

Kejriwal Stationery Holdings Limited

 

5000

 

 

BUSINESS DETAILS

 

Line of Business :

Trader, Importer and Exporter of Note Books, Exercise Books, Paper and Paper Allied Stationery Products.

 

 

Exports :

 

Products :

Waste Paper and Other Paper

Countries :

India

 

 

Imports :

 

Products :

Note Books, Exercise Books and Paper Allied Products

Countries :

v      India

v      Vietnam

 

 

Terms :

 

Selling :

L/C, Credit (30 days), Cash(60-90 days)

 

 

Purchasing :

L/C, Credit (30 days), Cash(30-90 days)

 

 

GENERAL INFORMATION

 

Customers :

v      Wholesalers

v      OEM’s

v      Retailers

 

 

No. of Employees :

2 (In Office)

 

 

Bankers :

City Bank NA, New York

 

 

Facilities :

Nil

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Mrs. Susan Biegelman CPA and Ass.

Chartered Accountants

Address :

PC

Tel. No.:

21-227 5114

Fax No.:

212-406 7265

E-Mail :

sbiegelman@yahoo.com

 

 

Associates/Subsidiaries :

Kejriwal Stationery Holdings Limited

101, Cecil Stationery #23-05 Tong Eng Building, Singapore-069533

Line Business : Holding Company

 

 

CAPITAL STRUCTURE

 

Issued, Subscribed & Paid-up Capital :

 

 

 

Amount

 

 

 

$ 5000

 

 

FINANCIAL DATA

[Amount in USD Thousand]

 

 

AS AT :

31-Dec-07

 

31-May-07

 

AS AT :

31-Dec-07

 

31-May-07

SOURCES OF FUNDS :

 

 

 

APPLICATION OF FUNDS :

 

 

Proprietors/Partners/ Share Capital :

1005

 

0.2

 

 

Fixed Assets :

 

 

 

Reserves :

(152)

 

(0.01)

 

Capital (WIP) :

 

 

 

 

 

 

 

 

 

 

 

 

LOAN FUNDS :

 

 

 

Investments :

 

 

 

Secured Loans :

 

 

 

 

 

 

 

 

Unsecured Loans

 

 

 

 

Inventories :

1591

 

 

 

 

 

 

 

Sundry Debtors:

229

 

8

CURRENT LIABILITIES & PROVISIONS :

 

Cash & Bank Bal

820

 

601

Current Liab.:

2095

 

882

 

Other Cur. Ass.:

308

 

273

Provisions :

 

 

 

 

Loans & Adv.:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MISC. EXP.:

 

 

 

DEFERRED TAX :

 

 

 

 

P&L A/C.

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL :

2948

 

882

 

TOTAL :

2948

 

882

 

IMPORTANT FINANCIAL INFORMATION (Amount in

USD thousand)

 

AS AT :

31-Dec-07

 

31-May-07

 

AS AT :

31-Dec-07

 

31-May-07

 

 

 

 

 

 

 

Sales Turnover :

333

 

8

 

IMPORTS :

 

 

 

Other Income :

 

 

 

 

Raw Materials :

1921

 

5

 

 

 

 

 

Spares :

 

 

 

Profit before Tax:

(0.01)

 

(0.01)

 

Capital Goods :

 

 

 

Provision :

 

 

 

 

 

 

 

 

Profit after Tax :

(0.01)

 

(0.01)

 

EXPENDITURE :

 

 

 

 

 

 

 

 

Cost of Goods :

330

 

0

Dividend :

 

 

 

 

Admn. Exp. :

151

 

3

 

 

Mfg. Exp. :

 

 

 

EARNINGS IN FOREIGN CURRENCY :

 

Depreciation :

 

 

 

Export Earnings :

 

 

 

 

Interest :

5

 

 

Other Earnings :

(0.01)

 

(0.01)

 

Other Exp.:

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References:

 

v      Mr. Jim Williamsons 908 500 1119

v      Mr. Greg Riley 281-593 2502

v      Kejriwal Paper Limited, India

v      P P Trading Company, Vietnam

 

General Comments on history, commercial activities, any future programmes, foreign collaboration, etc.:

 

The Kejriwal Group has been in business since the last three decades under the chairmanship of Mr. Rahul Kejriwal since 1986. Through innovative solutions, the Group has serviced manufactures and end users of paper. Kejriwal Paper starts from sourcing and supplying pulp, fibre, recycled waste to paper mills; sells paper manufactured by the mills to industrial users (newspapers, publishers and converters); continues to assist publishers with media servicing (buying and selling advertising space); acts as an end user itself (manufacturer of stationary products). In order to facilitate and economize the entire network, Kejriwal Paper has created its allied servicing structure to include warehousing, transport and logistics, financial and technical assistance. It is one of the largest paper network in India. With a global footprint covering USA, Europe, Hong Kong and Singapore; the company is well positioned to capitalize on the rapid globalization of paper sourcing and supply.

 

The Group has penetrated the notebooks and stationery markets of USA with a paper converting plant located in India and enjoyed a turnover of equivalent of USD 20 million during the last calendar year Dec-07.

 

Kejriwal Paper USA Limited (KPUSA) a company incorporated in New York in 2004 to enter into business of notebooks stationery, waste paper, newsprint paper and paper allied stationery products. The company is headed by Mr. Rahul Kejriwal of Kejriwal Group who has global presence through its holding entity Kejriwal Stationery Holdings Limited (KSHL), Singapore. KPUSA is a trading arm of the group to market stationery in US stationery market and source waste paper, newsprint paper all kind of paper from USA and export to India.  

 

Kejriwal Paper USA Limited is a 100% subsidiary company of Kejriwal Stationery Holding Limited, Singapore. Kejriwal Stationery Holdings Limited, Singapore a Singapore based holding company of Kejriwal Group. During Apr-07 based on the Enterprise Valuation of the stationery business equal to USD 75 Million, the group got Private Equity fund worth of USD 20 million invested in KSHL-Singapore from Kubera Cross Borders Funds (Mauritius) Ltd, Mauritius for 27% stake in the business.

 

Aforesaid information is based on an interview with Mr. Shiv Kumar Mittal of the Company.

 

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions