MIRA INFORM REPORT

 

 

Report Date :

05.02.2008

 

IDENTIFICATION DETAILS

 

Name :

KEJRIWAL STATIONERY HOLDINGS LIMITED

 

 

Registered Office :

101, Ceceil Street, # 23-05 Tong Eng Building 069533

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

March 2007

 

 

Com. Reg. No.:

ACRA NO 200704130C

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Holding Company of the Kejriwal Group.

 

 

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

 

Status :

New Company

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

LOCATIONS

 

Registered Office :

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

Tel. No.:

91-65 6226 6151

Mobile No.:

91-65 6223 2529

Fax No.:

91-65 6223 8087

E-Mail :

skmittal@kejriwalgroup.net

Website :

http://www.kejriwalgroup.net

Location :

Rented

 

 

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

 

 

Name :

Mr. Manish Kejriwal

Designation :

Director

Address :

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

Date of Birth/Age :

42 years

Qualification :

MBA

Experience :

20 years

 

 

Name :

Mr. Sri Murli

Designation :

Director

Address :

Singaporian Professional Director

Qualification :

CPA

 

 

Name :

Mr. Nithya Kalyani

Designation :

Director

Address :

Singaporian Professional Director

Qualification :

Graduate

 

 

MAJOR SHAREHOLDERS

 

Names of Shareholders

 

No. of Shares

Kejriwal Family

 

1200000

Kubera Cross Borders (Maurititus) Funds Limited

 

455172

 

 

BUSINESS DETAILS

 

Line of Business :

Holding Company of the Kejriwal Group.

 

 

GENERAL INFORMATION

 

No. of Employees :

1 (In Office)

 

 

Bankers :

Indian Bank, 3 Bharat Building, Raffles House, Singapore

 

 

Facilities :

Nil

 

 

 

Banking Relations :

--

 

 

Associates/Subsidiaries :

v      Kejriwal Paper Limited

             1403, Maker Chambers V, 221 Nariman Point, Mumbai -400 021

             Manufacturer and Exporter of paper allied products.

 

v      Kejriwal Paper USA Limited

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

             Importer and Distributors of Stationery Products.

 

 

CAPITAL STRUCTURE

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

1200000

Equity Shares

$ 1

$ 1200000

455172

Preference Shares

$ 1

$ 455172

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

                                                                       

BALANCE SHEET (Amount in

USD Thousand)

 

AS AT :

31-Dec-07

 

 

 

AS AT :

31-Dec-07

 

31-May-07

SOURCES OF FUNDS :

 

 

 

APPLICATION OF FUNDS :

 

 

Share Capital :

21200

 

 

 

 

Fixed Assets :

 

 

 

Reserves :

209

 

 

 

Capital (WIP) :

 

 

 

 

 

 

 

 

 

 

 

 

LOAN FUNDS :

 

 

 

Investments :

10213

 

 

Secured Loans :

 

 

 

 

 

 

 

 

Unsecured Loans

 

 

 

 

Inventories :

 

 

 

 

 

 

 

 

Sundry Debtors:

 

 

 

CURRENT LIABILITIES & PROVISIONS :

 

Cash & Bank Bal

9418

 

 

Current Liab.:

18

 

 

 

Other Cur. Ass.:

 

 

 

Provisions :

 

 

 

 

Loans & Adv.:

1500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MISC. EXP.:

293

 

 

DEFERRED TAX :

 

 

 

 

P&L A/C.

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL :

21427

 

 

 

TOTAL :

21427

 

 

 

 

 

IMPORTANT FINANCIAL INFORMATION (Amount in

USD thousand)

 

AS AT :

31-Dec-07

 

 

 

AS AT :

31-Dec-07

 

 

 

 

 

 

 

 

 

Sales Turnover :

 

 

 

 

IMPORTS :

 

 

 

Other Income :

243

 

 

 

Raw Materials :

 

 

 

 

 

 

 

 

Spares :

 

 

 

Profit before Tax:

209

 

 

 

Capital Goods :

 

 

 

Provision :

 

 

 

 

 

 

 

 

Profit after Tax :

209

 

 

 

EXPENDITURE :

 

 

 

 

 

 

 

 

Cost of Goods :

 

 

 

Dividend :

 

 

 

 

Admn. Exp. :

34

 

 

 

 

Mfg. Exp. :

 

 

 

EARNINGS IN FOREIGN CURRENCY :

 

Depreciation :

 

 

 

Export Earnings :

 

 

 

 

Interest :

 

 

 

Other Earnings :

209

 

 

 

Other Exp.:

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade Reference:

 

v      Mr. Sri Murli-65 6224 6151

 

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.

 

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 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.

 

 

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