MIRA
INFORM REPORT
|
Report Date : |
26.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KAYAVLON IMPEX PRIVATE LIMITED |
|
|
|
|
Registered Office : |
2nd Floor, Vishwkarma Chambers, Majura Gate,
Ring Road, Surat – 395002 Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
25.07.2005 |
|
|
|
|
Com. Reg. No.: |
04-46490 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51100GJ2005PTC046490 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
SRTK01845E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCK6284D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Importers and exporter of polyesterchips and yarns, nylon threads
and viscose yarns, embroidery thread PET & PVC Resins. |
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 13000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject has takenover the running business of erstwhile proprietory
concern Kayavlon Impex. 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
|
Registered Office
/ Corporate Office : |
2nd Floor, Vishwkarma Chambers, Majura Gate, Ring Road, Surat – 395002 Gujarat, India |
|
Tel. No.: |
91-261-2477052/58/59 |
|
|
91-9924106996 |
|
Fax No.: |
91-261-2477053/2479108 |
|
E-Mail : |
subhash@kayalon.com / msn_subhash_@hotmail.com /subhash@hotmail.com / manojogoel@kayavlon.com / sales@kayavlon.com / hoganer@kayavlon.com / hoganer@hotmail.com / k_dalal@rediffmail.com |
|
Website : |
|
|
Area : |
Owned – 3000 sq. fts. |
|
|
|
|
Overseas Office : |
Room No 508, 5TH Floor Zhong Xing Business Center
Building, 39 # Sheng Li East Road, ShaoXing, ZheJiang China |
|
Tel. No.: |
86-575-5084560 /86-13957591392 |
|
Fax No.: |
86-575-5084561 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Balakrisha Lalchand Runwal |
|
Designation : |
Managing Director |
|
Address : |
16-A, P4ramharsh, Trikam Nagar, L. H. Road, Varachha, Surat |
|
PAN No. : |
AAVPR8043G |
|
Date of Birth/Age : |
07/04/1996 |
|
Date of Appointment : |
25/07/2005 |
|
|
|
|
Name : |
Mrs. Deepika Manoj Goel |
|
Designation : |
Director |
|
Address : |
22, Nand Niwas, Near Ashok Nagar, Athwa Line, Surat – 395 001 |
|
PAN No. : |
ACOPG1052 |
|
Phone : |
91-261-2668740 |
|
Date of Birth/Age : |
16/06/1973 |
|
Date of Appointment : |
25/07/2005 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Omprakash Agarwal |
|
Designation : |
Director |
|
Address : |
22 Nand Niwas Ashok Nagar Society, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
15.08.1967 |
|
Pan No. : |
AAWPG3682J |
|
Director w.e.f: |
11.04.2006 |
|
|
|
|
Name : |
Mr. Subhash S. Hullur |
|
Designation : |
Business Analyst |
|
Mobile : |
91-9924106996 |
|
Tel No. : |
91-261-2477052/58/59. |
|
Fax No: |
91-261-2477053/2479108 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Arpan Agrawal |
|
Designation : |
Business Analyst (Export Department) |
|
Tel No. : |
91-982412159 |
|
|
|
|
Name : |
Mr. Manoj O. Goel |
|
Designation : |
Director – India Operations |
|
Tel No. : |
91-261-2477052/2477059/ 2668740 |
|
Fax No. : |
91-261-2477053 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Hoganer Liu |
|
Designation : |
General Manager – China Operations |
|
Address : |
508, 5th Floor Zhoug Xing Business Center Building, 39 # Sheng Li East Road, Shao Xing, Zhe Jiang, China |
|
Tel No. : |
86-575-5084560/13957591392 |
|
Fax No. : |
86-575-5084561 |
|
|
|
|
Name : |
Mr. Sadeghi |
|
Designation : |
Partner for Iran Market Only |
|
Address : |
Zarpood Company Vali-ASR Ave. Negar, Street No. 45, 19698, Tehran, Iran |
|
Tel No. : |
9821/8777465-8794239 |
|
Fax No. : |
9821/8882781 |
|
|
|
|
Name : |
Mr. Jaimon Joseph |
|
Designation : |
Business Analyst (Foreign Trade) |
|
Tel No. : |
91-261-2477052/2477058 |
|
Mobile : |
91-9824167060 |
|
Fax No. : |
91-261-2477053 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 02.07.2005
|
Names of Shareholders |
|
No. of Shares |
|
Mrs. Deepika Manoj Goel |
|
6000 |
|
Mr. Balakrishna Lalchand Runwal |
|
4000 |
|
Total |
|
10000 |
AS ON 30.09.2007
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies Corporate |
|
45.71 |
|
Directors or relatives of directors |
|
17.43 |
|
Other top fifty shareholders |
|
36.86 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importers and exporter of polyesterchips and yarns, nylon
threads and viscose yarns, embroidery thread PET & PVC Resins. |
|
|
|
|
Products : |
|
|
|
|
|
Imports : |
|
|
Countries : |
South East Asia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (60 days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (45 days) |
GENERAL
INFORMATION
|
Suppliers : |
Malaysia : - Hualon Corporation Taiwan : China Man Made Fibres, Tinan Spinning, Chung Shing Textile Company Korea : Hankook Synthetic Inc. Hyosung Corporation, Tongkook Corporation China : Yebin Grace, Bailu |
|
|
|
|
Bankers : |
Bank of Baroda Ring Road Branch, Surat – 395 002 Indian Overseas bank M – 1 Empire State Building Ring Road, Surat |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Rakesh Shah and Company Chartered Accountants |
|
Address : |
117, Jeevan Deep, Opposite J K Tower, Ring Road, Gujarat–
395 002, Surat, India |
|
|
|
|
Associates/Subsidiaries : |
Avlon Syntex Private Limited Inc. 06/05/1985 Cmpany No. 04-14260 Avlon Syntex (P) Ltd. is a leading indentor of yarn, based at Surat, Gujarat,
India. The company has a strong rapport with valued multinationals and
leaders in yarn industry and a strong network in China, Taiwan, Korea,
Malaysia, Thailand, Indonesia, Mexico, USA, Spain, Italy, and various other
countries The company was launched by enterprising
personalities, Mr. Omprakash Agarwal and Mr. Manoj Goel with a primary aim of
becoming a major name in indenting area. We have established a name of
credentials owing to the project commitments, working speed, quality
practices and the overall approach of the company. Subjects have established
extensive contacts and rapport in India and other international markets. And
have started our sales office in Iran. Its network encompasses markets such
as China Malaysia, Taiwan, Korea, China and others which are major supplier
countries of yarn. Subject have established its
sales network in India, Eastern Europe, Iran, Bangladesh, Pakistan, Canada,
USA, Mexico and various other countries. Subject cater to the needs of
extensive range of clientele such as Texturizers, Weavers, Traders and
related textiles players. Subject have established strong relationship
with major and reliable manufacturing companies in various countries |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.700
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.700 |
0.620 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2.591 |
2.142 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
3.291 |
2.762 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.291 |
2.762 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1.635 |
0.000 |
|
|
Sundry Debtors |
|
12.323 |
1.524 |
|
|
Cash & Bank Balances |
|
2.899 |
2.016 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
9.944 |
1.724 |
|
Total
Current Assets |
|
26.801 |
5.264 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
22.756 |
2.420 |
|
|
Provisions |
|
0.754 |
0.082 |
|
Total
Current Liabilities |
|
23.510 |
2.502 |
|
|
Net Current Assets |
|
3.291 |
2.762 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.291 |
2.762 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
7.14 |
0.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.14 |
2.10 |
LOCAL AGENCY
FURTHER INFORMATION
Inc. as a private limited company on 25/07/2005 at the above address, in Surat, of Gujarat State, India by taking over a going a partnership firm, M/s Kayavlon Impex established in 1990 at the above address as a going concern, along with its entire assets and liabilities.
Subject imports polyester chips and yarns, nylon threads and viscose yarns, embroidery thread PET & PVC Resins and exports of polyester staple fiber, nylon threads, viscose filament yarn, draw textured yarn, viscose filament nylon yarn, viscose embroidery thread, air textured yarn and nylon textured yarns
Subject supply the following materials:
- PVC Resin (Prime Grade)
- PET Resin (Prime Grade)
- Polyester Chips A Grade SD or SB
Subject mainly deals in Pet Chips and have one of the biggest and best Suppliers in the world with a production capacity of 1200000 tons/ per year & 3288 tons / per day.
Subject offer the following PET CHIPS on regular basis.
- PET Bottle Grade IV. 0.80 + /- 0.02 (Water Bottle Grade)
- PET Bottle Grade IV. 0.83 + /- 0.02 (Oil Bottle Grade)
- PET Bottle Grade IV. 0.85 + /- 0.02 (CSB Bottle Grade)
- PET Film Grade IV> 064/0.02
- PET Fiber Grade IV. 064 + /- 0.02 Semi Dull and Super Bright.
- PET Bottle Grade IV. 0.78 + /- 0.02 (HOT FILL BOTTLE)
|
Name of the company |
Kayavlon Impex Private Limited |
||||||||||
|
Presented By |
Ms. Dipika Goel, Director |
||||||||||
|
1) Date and description of instrument creating the change |
29.10.2005 Hypothecation of Book Debts Letter of Hypothecation [For securing / Machineries / Vehicles / Goods / Book Debts] Letter of Hypothecation |
||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 10.000 Millions Comparising of Cash Credit against Stores and Book Debts Rs. 1.000 Million Letter of Credit D. A. Rs. 2.000 Millions Letter of Credit D P Rs. 7.000 Millions |
||||||||||
|
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 stock and book debts by way of first charge in favour of Indian Overseas Bank |
||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Margin :
|
||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas bank M – 1 Empire State Building Ring Road, Surat |
||||||||||
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
||||||||||
|
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 |
As per
website
Subject is one
of the foremost and leading Indentors, based at Surat, Gujarat, India. The
company was launched by enterprising personalities, Mr. Omprakash Agarwal and
Mr. Manoj Goel with a primary aim of becoming a major name in indenting area.
They have established a name of
credentials owing to the project commitments, working speed, quality practices
and the overall approach of the company.
The company have handled business worth million of dollars
in the most transparent fashion. The company specialize in sourcing and
marketing of diverse range of products such as staple fibre, chips, polyester
yarn, nylon yarn, viscose yarn, embroidery threads and related products.
Its Operating philosophy is to provide
buyers with product that meets their specification, reliably delivered at a
reasonable price in Domestic and International Markets. The company offer the
customers a global network of opportunities and the best deal possible.
The mission is to
provide the most competitive price to their valued clientele.
They attribute their success to various key
features which have been followed all these years to become a name to reckon
with: The key features are:
·
Established strong relationship with various companies and reputed
houses in India and Abroad.
·
Ensure transparent approach, quality material and best deals as
per customers' specifications.
·
Its acumen in Foreign
Trade, leading to their image of being a consultant rather than only Indentor.
They consider their manpower, the
strongest asset. The professional team draws much needed aspirations from its
promoter Mr. Manoj Goel, who has provided excellent leadership. His dynamism
and acumen in this industry has brought Avlon Syntex Private Limited. to a
status of excellence. Mr. Manoj Goel is well conversant with international
trade and has handled consignments worth million of dollars. His extensive knowledge and brilliant
marketing techniques coupled with extensive contacts give Avlon Syntex Private
Limited., a leading edge.
Polyester
·
Polyester staple fibre
·
Polyester Chips
·
Polyester Spun Yarn
·
Partially Oriented Yarn
·
Draw Textured Yarn
·
Fully Drawn Yarn
·
Air Texture Yarn
·
High Tenacity Yarn.
Nylon :
·
Nylon Chips
·
Nylon partially Oriented Yanr
·
Nylon Fully Drawn Yarn
·
Nylon Texture Yarn
Viscose :
·
Viscose
Filament Yarn
·
Viscose Embroidery Thread
·
Viscose Embroidery Therad
·
Viscoce Spun Yarns
·
PTA
·
MEG
·
PP and PVC Resins
·
LDPE, HDPE
·
Engineering Plastic
Spandex :
·
Bare Spandex
·
Mixed with nylon and polyester.
Cotton :
·
Combed Cotton Yarn
·
Carded Cotton Yarn
They are very much
assured about their accepted globally standard of quality, prompt and customer
related service's, timely execution, and after sales services
Network :
They keep a strict tab on
fluctuations and innovations in Yarn Industry to provide you the best possible
information and deals. It has been due to consistent monitoring of markets and
providing valuable feedback, the customers have benefited by clinching cost
effective deals at the fastest speed. They keep track of the latest happenings
in the market to provide you with in depth statistics and market report of each
product they deal in.
The company heavily
emphasize upon selection of quality buyers and suppliers, channel of
distribution, markets, cost effective dealings, and integration of proper
exchange mechanism with Trade Mechanism. They
always endeavour to provide you the best of services at all times.
The subject have
established extensive contacts and rapport in India and other international
markets. subject have started sales
office in Iran. Its network encompasses markets such as China Malaysia, Taiwan,
Korea, China and others which are major supplier countries of yarn.
subject have established its sales
network in India, Eastern Europe, Iran, Bangladesh, Pakistan, Canada, USA,
Mexico and various other countries. They
cater to the needs of extensive range of clientele such as Texturizers,
Weavers, Traders and related textiles players. They have established strong relationship with major and reliable
manufacturing companies in various countries:
·
Malaysia: Hualon Corporation
·
Taiwan: China Man Made Fibres, Tinan Spinning, Chung Shing Textile
Co.
·
Korea: Hankook Synthetics Inc., Hyosung Corporation, Tongkook
Corporation
·
China: Yebin Grace, Bailu
The
company guarantee quality products, timely execution; prompt feed back and
their services meet global standards.
The Directors
are well experienced and qualified, with Sound
Financial Background and reputation
Suggest subject can be considered good for normal business
engagements and safe for medium trade credits.
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 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.40.12 |
|
UK Pound |
1 |
Rs.79.95 |
|
Euro |
1 |
Rs.62.41 |
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 |
NO |
|
--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 |
|