MIRA
INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
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Name : |
KAMAL ENVIROTECH PRIVATE LIMITED |
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Registered Office : |
834/1 Block Kmahipalur, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.02.1992 |
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Com. Reg. No.: |
55-47529 |
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CIN No.: [Company
Identification No.] |
U74899DL1992PTC047529 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK05454B |
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PAN No.: [Permanent
Account No.] |
AAACK0711H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Industrial Machinery and Parts. |
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 40000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Santosh Singh |
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Designation : |
Sales Manager |
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Date : |
15.11.2008 |
LOCATIONS
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Registered/ Corporate Office : |
834/1 Block Kmahipalur, |
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Mobile No.: |
91-9310308905/ 9810308905 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Plot No.254, Sector 6, IMT Manesar, Gurgaon – 122050, |
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Tel. No.: |
91-124-4367305 |
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Fax No.: |
91-124-4367308 |
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E-Mail : |
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Area : |
2200 |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Raghubir S. Punia |
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Designation : |
Managing Director |
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Address : |
2036, Sector 4, Urbon Estate, Gurgaon – 122001, |
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Date of Birth/Age : |
24.11.1959 |
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Qualification : |
BA |
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Date of Appointment : |
07.02.1992 |
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Name : |
Mrs. Kamaljeet Punia |
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Designation : |
Director |
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Address : |
2036, Sector 4, Urbon Estate, Gurgaon – 122001, |
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Date of Birth/Age : |
17.06.1968 |
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Date of Appointment : |
25.05.2007 |
KEY EXECUTIVES
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Name : |
Mr. Santosh Singh |
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Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 29.09.2007)
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Names of Shareholders |
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No. of Shares |
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Raghubir S. Punia |
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360400 |
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Kamaljeet Punia |
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136000 |
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S. M. Sharma |
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3600 |
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Total |
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500000 |
(As on 29.09.2007)
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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 : |
Manufacturer and Exporter of Industrial Machinery and Parts. |
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Products : |
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Exports : |
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Products : |
Industrial Machinery and Parts. |
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Countries : |
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Imports : |
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Products : |
Electronic Items |
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Countries : |
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GENERAL INFORMATION
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No. of Employees : |
135 (Office – 35 and Factory – 100) |
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Bankers : |
Sector – 4, |
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Facilities : |
Mortgage Charge of Rs.5.000 Millions, From Allahabad Bank
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Subrat Sharma and Company Chartered Accountant |
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Address : |
211, |
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Associates/Subsidiaries : |
GIAA Tech, Manesar Gurgaon (Manufacturer and Exporter of Industrial Machinery and Parts.) |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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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5.000 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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3.469 |
2.662 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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8.469 |
2.762 |
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LOAN FUNDS |
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1] Secured Loans |
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11.209 |
3.082 |
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2] Unsecured Loans |
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2.730 |
5.772 |
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TOTAL BORROWING |
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13.939 |
8.854 |
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DEFERRED TAX LIABILITIES |
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0.192 |
0.219 |
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TOTAL |
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22.600 |
11.835 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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9.274 |
9.158 |
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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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1.291 |
1.281 |
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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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2.615 |
0.902 |
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Sundry Debtors |
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24.178 |
22.897 |
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Cash & Bank Balances |
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0.008 |
1.381 |
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Other Current Assets |
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0.039 |
0.000 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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26.840 |
25.180 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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13.946 |
23.508 |
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Provisions |
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0.909 |
0.331 |
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Total
Current Liabilities |
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14.855 |
23.839 |
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Net Current Assets |
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11.985 |
1.341 |
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MISCELLANEOUS EXPENSES |
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0.050 |
0.055 |
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TOTAL |
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22.600 |
11.835 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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53.837 |
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Other Income |
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0.000 |
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Total Income |
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53.837 |
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Profit/(Loss) Before Tax |
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1.312 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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1.312 |
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Total Expenditure |
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52.525 |
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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2.44 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.44 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.63 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.15 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.40 |
11.84 |
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Current Ratio (Current Asset/Current Liability) |
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1.81 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
- Maruti
Limited – Gurgaon
- Mark Echaust
- Gurgaon
Achievements
1992 :
KEPL Starts its operation from AMC of Indian Airlines For
ETP and Plating Plant. ETP Plant of Hero Honda Gurgaon- supplied by KEPL
1996 :
KEPL Makes First Automatic Plant with two Transporters.
Plating Process : Zinc Plating Plant
2000 :
Multiple Surface Coating Plant for various industries like
Automobile, Defense, among others. More than 100 transporters were supplied
2002 :
First Manual ED Coating Plant
2004 :
First Automatic CED Plant supplied
2004 :
Inception of GIAA TECH, A group company which deals in
Industrial Automation, SPM Machines, Electrical Panels, AC Drives, PLC, etc.
2006 :
Automatic CED Plant supplied to Caparo Halaol for GM and
Volvo Components
2008 :
ED Painting Plant in KEPL.
FORM 8:
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Corporate identity
number of the company |
U74899DL1992PTC047529 |
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Name of the
company |
KAMAL ENVIROTECH PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
834/1 Block Kmahipalur, New Delhi, India |
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This form is for |
Creation of charge |
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Type of charge |
Immovable
Property Movable Property |
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Particular of
charge holder |
Allahabad Bank, Sector – 4, Railway Road, Gurgaon – 122001, Haryana, India |
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Nature of
instrument creating charge |
Agreement of Loan
dated 22nd December, 2006 along with confirmed of mortgage along
with the copy of undertaking against collateral security of immovable
property and power of attorney. |
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Date of
instrument Creating the charge |
22.12.2006 |
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Amount secured by
the charge |
Rs.5.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: PLR + 0.50% p.a.
with monthly rests subject to vary from time to time. Present PLR is 11.50% Terms of
Repayment: Overdraft
repayable on demand but interests will be services from time to time. Period one year.
To Be reviewed on annualized basis Margin: 50% (Minimum) Extent and
Operation of the charge: Rs.5.000 Millions
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Particulars of
the property charged |
Equitable
Mortgage of factory and land at Industrial Plot No.254, Sector – 6, IMT, Gurgaon
Measuring 1800 sq. mtrs in the name of Kamal Envirotech Private Limited |
Fixed Assets:
- Building
- Plant and Machinery
- Office Equipment
- Mobile Instrument
- Scooter
- Furniture and Fixture
- Cars A/c
- Computers
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.68 |
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UK Pound |
1 |
Rs.74.64 |
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Euro |
1 |
Rs.62.58 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
YES |
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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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46 |
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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