MIRA
INFORM REPORT
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Report Date : |
26.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
KALPVRAKSH IMPEX PRIVATE LIMITED |
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Registered Office : |
307, Balarama Building, Bandra Kurla Complex, Bandra [East], Mumbai
400051, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.04.2003 |
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Com. Reg. No.: |
139960 |
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CIN No.: [Company
Identification No.] |
U51211MH2003PTC139960 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK12204D |
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PAN No.: [Permanent
Account No.] |
AACCK1102G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporting and Importing of Agricultural Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 160000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as usually correct
and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
307, Balarama Building, Bandra Kurla Complex, Bandra [East], Mumbai
400051, Maharashtra, India |
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Tel. No.: |
91-22-26592333 / 26592444 |
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Fax No.: |
91-22-26591999 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Abhishek Bhura |
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Designation : |
Director |
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Address : |
21/51, Sea Pearl Bandra Reclamation, Mumbai 400050, Maharashtra, India
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Date of Birth/Age : |
26.07.1982 |
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Date of Appointment : |
09.04.2003 |
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Name : |
Mr. Saraladevi Bhura |
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Designation : |
Director |
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Address : |
21/51, Sea Pearl Bandra Reclamation, Mumbai 400050, Maharashtra, India
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Date of Birth/Age : |
05.01.1960 |
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Date of Appointment : |
09.04.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Abhishek Bhura |
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92500 |
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Saraladevi Bhura |
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250000 |
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Jayant Bhura |
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110000 |
|
Aryaman Mecandise Private Limited |
|
85000 |
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Paymaster Securities Private Limited |
|
40000 |
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D. R. Patel Investments Private Limited |
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40000 |
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Radha Chemicals Private Limited |
|
40000 |
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Ganpati Vincom Private Limited |
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40000 |
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Tora Marketing Private Limited |
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40000 |
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Total |
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737500 |
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Equity Share
Break-up |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Exporting and Importing of Agricultural Products |
GENERAL
INFORMATION
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Bankers : |
ING Vysya Bank
Limited Mittal Tower, A
wing, Nariman Point, Mumbai 400021, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gupta Saharia and Company Chartered Accountants |
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Address : |
4, Atlanta CHS, Evershine Nagar, Malad [West], Mumbai 400064,
Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
737500 |
Equity Shares |
Rs. 10/-
each |
Rs. 7.375
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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7.375 |
7.375 |
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2] Share Application Money |
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25.495 |
1.600 |
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3] Reserves & Surplus |
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9.431 |
7.045 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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42.301 |
16.020 |
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LOAN FUNDS |
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1] Secured Loans |
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225.727 |
69.992 |
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2] Unsecured Loans |
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15.462 |
2.864 |
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TOTAL BORROWING |
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241.189 |
72.856 |
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DEFERRED TAX LIABILITIES |
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0.509 |
0.017 |
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TOTAL |
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283.999 |
88.893 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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34.143 |
0.757 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.500 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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83.304 |
2.663 |
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Sundry Debtors |
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152.609 |
69.174 |
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Cash & Bank Balances |
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40.701 |
7.125 |
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Other Current Assets |
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17.216 |
38.592 |
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Loans & Advances |
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10.700 |
6.173 |
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Total
Current Assets |
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304.530 |
123.727 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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54.389 |
35.359 |
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Provisions |
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0.821 |
0.273 |
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Total
Current Liabilities |
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55.210 |
35.632 |
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Net Current Assets |
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249.320 |
88.095 |
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MISCELLANEOUS EXPENSES |
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0.036 |
0.041 |
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TOTAL |
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283.999 |
88.893 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Total Income |
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1221.886 |
329.716 |
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Profit/(Loss) Before Tax |
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3.698 |
0.632 |
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Provision for Taxation |
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-- |
-- |
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Profit/(Loss) After Tax |
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3.698 |
0.632 |
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Export Turnover |
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1207.897 |
328.440 |
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Expenditures : |
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Interest |
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7.510 |
3.078 |
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Depreciation & Amortization |
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0.355 |
0.088 |
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Other Expenditure |
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1210.323 |
325.918 |
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Total Expenditure |
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1218.188 |
329.084 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.30 |
0.19 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.30 |
0.19 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.09 |
0.50 |
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Return on Investment (ROI) (PBT/Networth) |
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0.08 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.00 |
6.77 |
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Current Ratio (Current Asset/Current Liability) |
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5.51 |
3.47 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Bankers Charges Report
as per Registry
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This Form is for |
Modification of charge |
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Charge
identification number of the charge to be modified |
80015160 |
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Corporate
identity number of the company |
U51211MH2003PTC139960 |
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Name of the
company |
KALPVRAKSH IMPEX
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
307, Balarama Building, Bandra Kurla Complex, Bandra [East], Mumbai
400051, Maharashtra, India |
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Type of charge |
Ø Book Debts Ø Floating charge |
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Particular of
charge holder |
ING Vysya Bank
Limited Mittal Towers, A
Wing, Ground Floor, 210, Nariman Point, Mumbai 400021, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental
hypothecation agreement |
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Date of
instrument Creating the charge |
27.10.2006 |
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Amount secured by
the charge |
Rs. 195.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of interest
no change [b] Terms of
repayment on demand [c] Margin no change [d] Extent and
operation of the charge First charge on
current assets and book debts both present and future |
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Short particulars
of the property charged |
Current assets and
book debts both present and future located at storage locations |
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Date of latest
modification prior to the present modification |
16.11.2005 |
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Particulars of
the present modification |
The limit has
been enhanced from Rs. 77.500 Millions to Rs. 195.000 Millions |
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Name of the company |
KALPVRAKSH IMPEX
PRIVATE LIMITED |
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Presented By |
ING VYSYA BANK
LIMITED, MUMBAI |
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1) Date and description of instrument creating the change |
General hypothecation agreement dated 07.04.2005 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 37.500
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 |
Hypothecation of
inventories, stock in process, semi finished and finished goods and documents
covering raw material, finished goods, work in process, goods in transit both
present and future situated or in
transit. |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest for PC @
IVRR less 2.75% for FBE/FBD @ IVRR 40.25% p.a. with monthly rest or such
other rate as may be prescribed by the bank from time to time. Security to
secure Packing credit Rs. 20.000 Millions, FBE/FBD Rs. 15.000 Millions and
standby LC Rs. 2.500 Millions together with interest, cost, expenses,
charges, commission etc. |
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5) Name and Address and description of the person entitled to the
charge. |
ING Vysya Bank
Limited Mittal Tower, A wing,
Nariman Point, Mumbai 400021, Maharashtra, India |
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6) Date and brief description
of instrument modifying the charge |
NA |
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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. |
NA |
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. 40.05 |
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UK Pound |
1 |
Rs. 78.75 |
|
Euro |
1 |
Rs. 59.39 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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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 |
|
49 |
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 |
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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 |
|
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 |
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