MIRA
INFORM REPORT
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Report Date : |
19.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
KRAYCOL STATIONERY PRIVATE LIMITED |
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Registered Office : |
No.38/7-24, II Floor, Vasavi Chambers, Annex D, LBG Road, Bangalore –
560004, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.04.2002 |
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Com. Reg. No.: |
030382 |
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CIN No.: [Company
Identification No.] |
U24242KA2002PTC030382 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK03750F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Stationery Art Materials Such as Wax Crayons, Oil Pastels,
Poster Colours and Other Stationery Art Materials Used by the Students. |
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 10104 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Scale of activity
is limited. Trade relations are fair. Payments are reported as slow but
correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
No.38/7-24, II Floor, Vasavi Chambers, Annex D, LBG Road, Bangalore –
560004, Karnataka, India |
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Tel. No.: |
91-80-26745617 |
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E-Mail : |
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Website : |
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Factory : |
1, p. p. Industrial Estate, Bangalore – 560026, Karnataka, India |
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Tel. No.: |
91-80-26745617/ 26745742 |
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Fax No.: |
91-80-26745742 |
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Mobile : |
91-9341254991/ 9845022475 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. S. Nandakishore |
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Designation : |
Director |
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Address : |
No.46/41, 12th Main, Padmanabha Nagar, Bangalore – 560070,
Karnataka, India |
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Date of Birth/Age : |
30.12.1959 |
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Date of Appointment : |
18.04.2002 |
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Name : |
Ms. S. N. Lakshmi |
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Designation : |
Director |
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Address : |
No.46/41, 12th Main, Padmanabha Nagar, Bangalore – 560070,
Karnataka, India |
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Date of Birth/Age : |
09.05.1969 |
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Date of Appointment : |
18.04.2002 |
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Name : |
Mr. A. S. Somashekara Reddy |
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Designation : |
Director |
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Address : |
No.46/41, 12th Main, Padmanabha Nagar, Bangalore – 560070,
Karnataka, India |
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Date of Birth/Age : |
04.04.1963 |
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Date of Appointment : |
29.09.2003 |
KEY EXECUTIVES
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Name : |
Mr. K. Narendra |
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Designation : |
Company Secretary (Practising) |
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Address : |
2872, 2B, Main 17th Cross, Banashankari II Stage, Bangalore
– 560070, India |
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Tel No.: |
91-80-26761562 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. S. Nandakishore |
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80000 |
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Ms. S. N. Lakshmi |
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107500 |
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Mr. A. S. Somashekara Reddy |
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12500 |
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Mr. C. M. Narasimha Reddy |
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100 |
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Mr. B. N. Gupta |
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100 |
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Mr. Sudha B. Gupta |
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100 |
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Mr. S. Siddaraju |
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100 |
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Mr. S. Siddaraju HUF |
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100 |
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Mr. Pravin Prabhudas Sanghavi |
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5000 |
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Total |
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205500 |
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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 : |
Manufacturing of Stationery Art Materials Such as Wax Crayons, Oil
Pastels, Poster Colours and Other Stationery Art Materials Used by the
Students. |
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Products : |
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GENERAL
INFORMATION
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Suppliers : |
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Bankers : |
K G Road, Bangalore – 560009, Karnataka, India
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vijay Sreeram and Company Chartered Accountant |
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Address : |
38/7-24, II Floor, Vasavi Chambers, Annex D, LBG Road, Bangalore –
560004, Karnataka, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Share |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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205500 |
Equity Share |
Rs.10/- each |
Rs.2.055 Millions |
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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 |
2.055 |
2.055 |
2.055 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.471 |
0.273 |
0.188 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.526 |
2.328 |
2.243 |
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LOAN FUNDS |
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1] Secured Loans |
2.997 |
2.875 |
2.568 |
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2] Unsecured Loans |
1.707 |
1.295 |
3.120 |
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TOTAL BORROWING |
4.704 |
4.170 |
5.688 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.230 |
6.498 |
7.931 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.387 |
3.408 |
3.037 |
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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 |
6.323 |
4.864 |
5.145 |
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Sundry Debtors |
3.085 |
2.287 |
1.944 |
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Cash & Bank Balances |
0.442 |
0.036 |
0.079 |
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Other Current Assets |
0.494 |
0.574 |
0.050 |
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Loans & Advances |
0.000 |
0.000 |
0.327 |
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Total
Current Assets |
10.344 |
7.761 |
7.545 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.035 |
4.370 |
2.403 |
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Provisions |
0.498 |
0.340 |
0.294 |
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Total
Current Liabilities |
6.533 |
4.710 |
2.697 |
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Net Current Assets |
3.811 |
3.051 |
4.848 |
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MISCELLANEOUS EXPENSES |
0.032 |
0.039 |
0.046 |
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TOTAL |
7.230 |
6.498 |
7.931 |
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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 |
24.515 |
15.867 |
13.960 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
24.515 |
15.867 |
13.960 |
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Profit/(Loss) Before Tax |
0.471 |
0.170 |
0.070 |
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Provision for Taxation |
0.152 |
0.085 |
0.000 |
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Profit/(Loss) After Tax |
0.319 |
0.085 |
0.070 |
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Total Expenditure |
24.044 |
15.697 |
13.890 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.30 |
0.53 |
0.50 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.92 |
1.07 |
0.50 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.43 |
1.52 |
0.66 |
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Return on Investment (ROI) (PBT/Networth) |
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0.19 |
0.07 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.45 |
3.81 |
3.74 |
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Current Ratio (Current Asset/Current Liability) |
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1.58 |
1.65 |
2.80 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Name of the company |
KRAYCOL STATIONERY PRIVATE LIMITED |
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Presented By |
KRAYCOL STATIONERY PRIVATE LIMITED
And Dena Bank, K G Road, Bangalore – 560009, Karnataka, India |
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1) Date and description of instrument creating the change |
29.09.2003 Agreement of
Hypothecation (Goods, Book Debts, and Other Movable Assets to Secure Multiple
Facilities) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.000 Millions Cash Credit
(Hypothecation) Rs.1.400 Millions Terms Loan (Machinery)
Rs.0.600 Millions |
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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 |
All stock of raw
materials, goods in process and finished goods such as crayons, wax and
packing materials, etc., consumable stores and spares, packing materials
etc., both present and future; All the tangible
movable property and assets of the borrower of whatsoever nature including
plant, machinery, tools and accessories, stores spares relating to plant and
machinery, fixture, articles, office equipment, computers, and things
belonging to the borrower and lying and being at theirs belonging to the
borrower and lying and being at their premises at Bangalore, being movable
properties and cable of passing by delivery, both present and future; All the present
and future Book debts, outstanding, moneys, receivables, claims, bills rights
for or in movable properties and movable assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interests
@13% p.a. Margin – 25% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Dena Bank K G Road, Bangalore
– 560009, Karnataka, India |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.66 |
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UK Pound |
1 |
Rs.77.79 |
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Euro |
1 |
Rs.58.22 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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32 |
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
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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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