MIRA
INFORM REPORT
|
Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAMAT CONSTRUCTION PRIVATE LIMITED |
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Registered Office : |
F/1 Indira Apartments, Caetano Albuquerque Road, Panaji – 403001, Goa |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.10.1985 |
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Com. Reg. No.: |
24-00645 |
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CIN No.: [Company
Identification No.] |
U45203GA1985PTC000645 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
45-341-BB- |
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PAN No.: [Permanent
Account No.] |
BLRK03034D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Construction Activities |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 560000 |
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Status : |
Good |
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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 fine.
General financial position is good. Trade relations are fair. Business is
active. Payments are reported as usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
F/1 Indira Apartments, Caetano Albuquerque Road, Panaji – 403001, Goa,
India |
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E-Mail : |
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Corporate
Office: |
31st
Linking Road, Bandra (West), Mumbai – 400 050, Maharashtra, India |
DIRECTORS
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Name : |
Mr. Ramesh Anant
Kamat |
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Designation : |
Director |
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Address : |
H No. 760, St. Mary Colony, Miramar , Panaji – 403 001,
Goa, India |
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Date of Birth/Age : |
11.03.1953 |
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Date of Appointment : |
28.10.1985 |
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Name : |
Mr. Uday Kamat |
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Designation : |
Director |
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Address : |
White House Bungaloow, Opposite Hotel Solmar, Miramar,
Panaji – 403 001, Goa, India |
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Date of Birth/Age : |
22.03.1945 |
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Date of Appointment : |
28.10.1985 |
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Name : |
Mr. Dattaprasad
Kamat |
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Designation : |
Director |
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Address : |
White House Bungaloow, Opposite Hotel Solmar, Miramar,
Panaji – 403 001, Goa, India |
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Date of Birth/Age : |
22.07.1950 |
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Date of Appointment : |
28.10.1985 |
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Name : |
Mrs. Smita Kamat |
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Designation : |
Director |
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Address : |
Opposite Hotel Solmar, Miramar, Panaji – 403 001, Goa, India |
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Date of Birth/Age : |
07.02.1955 |
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Date of Appointment : |
01.12.1995 |
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Name : |
Mrs. Anjali Kamat |
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Designation : |
Director |
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Address : |
Opposite Hotel Solmar, Miramar, Panaji – 403 001, Goa,
India |
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Date of Birth/Age : |
23.08.1950 |
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Date of Appointment : |
26.06.2003 |
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Name : |
Mrs. Sadhana Kamat |
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Designation : |
Director |
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Address : |
Opposite London Hotel, Goa |
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Date of Birth/Age : |
23.10.1953 |
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Date of Appointment : |
11.12.1995 |
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Name : |
Mr. Suresh Kamat |
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Designation : |
Director |
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Address : |
Opposite Hotel Solmar, Miramar, Panaji – 403 001, Goa, India |
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Date of Birth/Age : |
07.08.1935 |
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Date of Appointment : |
01.01.1998 |
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Name : |
Mrs. Usha Kamat |
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Designation : |
Director |
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Address : |
Opposite Hotel Solmar, Miramar, Panaji – 403 001, Goa, India |
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Date of Birth/Age : |
23.01.1945 |
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Date of Appointment : |
01.01.1993 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Uday Kamat |
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46665 |
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Mr. Dattaprasad
Kamat |
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46666 |
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Mr. Rajesh Kamat |
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46666 |
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Mrs. Smita Kamat |
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1 |
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Mrs. Anjali Kamat |
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1 |
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Mrs. Sadhana
Kamat |
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1 |
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Mr. Suresh Kamat |
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19999 |
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Mrs. Usha Kamat |
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1 |
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Total |
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160000 |
(As on 31.03.2007):-
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Category |
Percentage |
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Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Construction Activities |
GENERAL
INFORMATION
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Bankers : |
Minum Residency, 18th June Road, Panaji, Goa, India
“HDFC Bank House”, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Satish Dhume and
Company Chartered
Accountants |
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Address : |
203/206/207,
Mahalaxmi Chambers, 18th June Road, Panaji - 403 001, Goa, India |
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Associates/Subsidiaries : |
Prajakta Investments and Trading Private limited |
CAPITAL STRUCTURE
Authorised Capital:
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No. of Shares |
Type |
Value |
Amount |
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595000 |
Equity Shares |
Rs.100/- each |
Rs.59.500
millions |
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5000 |
Preference Shares
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Rs.100/- each |
Rs.0.500 million |
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Total |
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Rs.60.000 millions |
Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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160001 |
Equity Shares |
Rs.100/- each |
Rs.16.000 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 |
16.000 |
16.000 |
16.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
96.269 |
94.489 |
83.440 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
112.269 |
110.489 |
99.440 |
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LOAN FUNDS |
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1] Secured Loans |
1.371 |
2.505 |
3.174 |
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2] Unsecured Loans |
5.590 |
5.590 |
1.074 |
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TOTAL BORROWING |
6.961 |
8.095 |
4.248 |
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DEFERRED TAX LIABILITIES |
8.542 |
5.349 |
6.459 |
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TOTAL |
127.772 |
123.933 |
110.147 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
35.738 |
26.529 |
29.889 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
125.889 |
80.350 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
69.342 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
156.641 |
56.625 |
28.350 |
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Sundry Debtors |
0.947 |
0.880 |
0.000 |
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Cash & Bank Balances |
0.541 |
0.523 |
1.704 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
31.900 |
26.268 |
13.039 |
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Total
Current Assets |
190.029
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84.296 |
43.093 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
217.337 |
63.880 |
32.177 |
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Provisions |
6.547
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3.362
|
0.000 |
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Total
Current Liabilities |
223.884
|
67.242 |
32.177 |
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Net Current Assets |
(33.855) |
17.054 |
10.916 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
127.772 |
123.933 |
110.147 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.05
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7.68 |
0.37 |
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Current Ratio (Current Asset/Current Liability) |
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0.85
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1.25 |
1.34 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:
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Name of the
company |
KAMAT
CONSTRUCTION PRIVATE LIMITED |
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Presented By |
Mr. Ramesh Kamat, Managing Director |
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1) Date and description
of instrument creating the change |
Agreement for
vehicle Loan. Dated 10th October 2005 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.0.364 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
one no. New Hyundai Motor, Santro XL Reg No.: GA – 01-S-8743 Engine no. MALAA51HR5M708230*H |
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4) Gist of the terms
and conditions and extent and operation of the charge. |
The term Loan of Rs. 0.364 million and shall be repaid in 36 EMI’s of
Rs. 0.011 millions each. |
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5) Name and
Address and description of the person entitled to the charge. |
HDFC Bank Limited, “HDFC Bank House”, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400 013, 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.42.94 |
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UK Pound |
1 |
Rs.84.52 |
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Euro |
1 |
Rs.66.73 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
|
62 |
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 |
|
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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