MIRA
INFORM REPORT
|
Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KHEMKA PLYLAND |
|
|
|
|
Registered Office : |
207, 60 Feet Road, Shivanagar, West of Chord Road, Bangalore 560 010,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Dealers, Distributors and Importers of Plywood, Commercial / Decorative/
Water Proof Doors, MDF, Particle Boards, Hard Boards, Veneer and Timbers,
etc. |
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 |
|
Maximum Credit Limit : |
USD 3120 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and reputed concern having satisfactory track. Proprietor is
reported as experienced and respectable businessman. His trade relations are
fair. Business is active. Payments are usually correct and as per commitments.
The concern can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
207, 60 Feet Road, Shivanagar, West of Chord Road, Bangalore 560 010,
Karnataka |
|
Tel. No.: |
91-80-23383929/ 23307084, 23482532/ 5842 (Residential) |
|
Mobile No.: |
91-9341217158 |
|
Fax No.: |
91-80-23485842/ 23307084(Telefax) |
|
E-Mail : |
|
|
Area : |
1200 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Godown 1 : |
No. 34, 4th Stage, NOC Road, Basaveshwar Nagar, Bangalore
560 079, Karnataka, India |
|
Area : |
2000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Godown 2 : |
No. 329/ 77, 5th Main, 2nd Phase, Manjunath
Nagarm Bangalore 560 010, Karnataka, India |
|
Area : |
1000 sq. ft. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Kailash Chand Agarwal |
|
Designation : |
Sole Proprietor |
|
Date of Birth/Age : |
48 Years |
|
Qualification : |
Under Graduate |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Dealers, Distributors and Importers of Plywood, Commercial / Decorative/
Water Proof Doors, MDF, Particle Boards, Hard Boards, Veneer and Timbers,
etc. |
|
|
|
|
Products : |
* Plywood * Commercial /
Decorative/ Water Proof Doors * MDF * Particle Boards * Hard Boards * Veneer and
Timbers |
|
|
|
|
Imports : |
|
|
Products : |
All Products |
|
Countries : |
Malaysia and Thailand |
|
|
|
|
Terms : |
|
|
Selling : |
On Cash and Credit upto 60-90 days basis |
|
|
|
|
Purchasing : |
On L/C and Credit upto 30 days basis |
GENERAL
INFORMATION
|
Suppliers : |
* City Panel * Jai Hanuman
Plywood * Try Wood Private
Limited * Lotus Ventures
Private Limited |
|
|
|
|
Customers : |
* Talin Interiors
and Decorators, Bangalore, Karnataka, India * 21st
Century Offices, Bangalore, Karnataka, India * Office Line Systems,
Bangalore, Karnataka, India * K. R.
Industries, Bangalore, Karnataka, India * Rinac India
Limited, Bangalore, Karnataka, India |
|
|
|
|
No. of Employees : |
About 6 + Part Time or Temporary |
|
|
|
|
Bankers : |
* Bank of Baroda, Rajaji
Nagar, Bangalore 560 010, Karnataka, India |
|
|
|
|
Facilities : |
C/C Limit: Rs. 2.000 millions and L/C Limit: Rs. 3.000 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
N. J. Raiakhia and Company Chartered Accountants |
|
Address : |
Banglore, Karnataka, India |
|
|
|
|
Sister Concerns : |
* Khemka Timber
and Plywood, Chennai, Tamilnadu, India * Sri Venkateswara
Wood Industries, Chennai, Tamilnadu, India * Khemka Glass and
Plywood, Vizag, Andhra Pradesh, India * Konark Plywood,
Raipur, Madhya Pradesh, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 0.780 million |
|
Borrowed : |
Nil |
|
Total : |
Rs. 0.780 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
20.000 |
19.000 |
|
|
|
|
|
Expected Sales (2007-08) : Around Rs. 30.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Nil
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.39.91 |
|
UK Pound |
1 |
Rs.78.44 |
|
Euro |
1 |
Rs.59.13 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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 |
|