MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
K D SAREES PRIVATE LIMITED |
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Registered Office : |
54, Sar Hari Ram, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporations : |
19.12.1994 |
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Com. Reg. No.: |
21- 66741 |
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CIN No.: [Company
Identification No.] |
U51311WB1994PTC066741 |
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PAN No.: |
AABCK2105N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Wholesaler and Supplier of embroidery Sarees, Lehnga
Choli, Fancy Saree Indian Sarees, Gridal Sarees. |
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 25175 |
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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. Profit margin is under severe procure. Payments are reported as 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 : |
MrSumit Kumar Jain |
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Designation : |
Director |
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Contact No.: |
91-9331021001 |
LOCATIONS
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Registered Office : |
54, Sar Hari Ram, |
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Tel. No.: |
91-33-22744573 / 22740904 |
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Mobile No.: |
91-9331021001 |
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E-Mail : |
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Website : |
www.kdsarees.com |
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Area : |
3000 sq ft |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Pawan Kumar Modi |
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Designation : |
Director |
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Address : |
1, |
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Date of Birth : |
04.08.1958 |
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Qualification : |
Graduate |
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Experience : |
30 years |
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Date of Appointment : |
01.12.1997 |
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Name : |
Mr. Sumit Jain |
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Designation : |
Director |
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Address : |
1, |
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Date of Birth : |
24.08.1980 |
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Qualification : |
B.Com |
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Experience : |
7 years |
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Date of Appointment : |
10.04.2008 |
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Name : |
Mr. Sunny Jain |
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Designation : |
Director |
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Address : |
1, |
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Date of Birth : |
13.09.1983 |
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Qualification : |
B.B.A. |
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Experience : |
4 years |
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Date of Appointment : |
10.04.2008 |
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Name : |
Mr. Pankaj Kumar Jain |
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Designation : |
Director |
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Address : |
9/1, |
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Date of Birth : |
01.11.1970 |
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Date of Appointment : |
19.12.1994 |
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Name : |
Mrs. Sulochana Devi Jain |
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Designation : |
Director |
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Address : |
9/1, |
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Date of Birth : |
15.02.1950 |
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Date of Appointment : |
07.04.1997 |
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Name : |
Mr. Dharam Chand Jain |
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Designation : |
Director |
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Address : |
9/1, |
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Date of Birth : |
28.08.1946 |
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Date of Appointment : |
01.12.1997 |
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Name : |
Mr. Pravin Kumar Jain |
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Designation : |
Director |
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Address : |
9/1, |
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Date of Birth : |
17.01.1975 |
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Date of Appointment : |
01.12.1997 |
KEY EXECUTIVES
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Name : |
M/s. M Jain and Company |
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Designation : |
Company Secretary |
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Address : |
2, |
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Tel No.: |
91-33-22484777 / 22484455 / 22483386 / 22430755 |
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Fax No.: |
91-33-22483500 |
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Email : |
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Name : |
Mr. Ashish Sharma |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 28.09.2007
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Names of Shareholders |
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No. of Shares |
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Pankaj Kumar Jain |
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71100 |
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Premlata Jain |
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1000 |
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Dharam Chand Jain |
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1000 |
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Pawan Kumar modi |
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61000 |
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Pravin Kumar jain |
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13200 |
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Sulochana Devi Jain |
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1000 |
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K.D. fabrics Private Limited |
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70000 |
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Sumit Kumar Jain |
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10000 |
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Tristar Agencies Private Limited |
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150000 |
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Dharam Chand Saraogi |
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1700 |
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Sushama jain |
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10000 |
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Sanni Jain |
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10000 |
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Sweta Jain |
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10000 |
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Nawaab Vyapar Private Limited |
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100000 |
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Koel Vyapar Private Limited |
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100000 |
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Puja Tie Up Private Limited |
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100000 |
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Puja Dealcom Private Limited |
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100000 |
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Pushpa Dealer Private Limited |
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100000 |
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Variety Dealer Private Limited |
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20000 |
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Snowfall Commercial Private Limited |
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80000 |
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Narrottamka Trade and Vyapar Private Limited |
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20000 |
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Promoter Group Holdings |
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410000 |
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AS ON 28.09.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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37.00 |
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Directors or relatives of directors |
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63.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Wholesaler and Supplier of embroidery Sarees, Lehnga
Choli, Fancy Saree Indian Sarees, Gridal Sarees. |
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Products : |
· Hand Embroidered
Sarees · Fancy
Embroidered Sarees · Fancy Chiffon
Sarees · Ethnic Indian
Sarees · Traditional
sarees · Antique Sarees · Designer Sarees · Party Ware
Sarees · Printed Sarees |
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Brand Names : |
K.D. Sarees |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Credit (30 Days) |
GENERAL
INFORMATION
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Customers : |
Wholesaler, Retailer and Other |
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No. of Employees : |
10 |
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Bankers : |
ICICI Bank Limited Burra Bazar Branch, P-16, |
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Facilities : |
Credit Limit Rs.0.800 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Santosh Jain and Company Chartered Accountant |
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Address : |
2, draper lane, |
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Tel No.: |
91-33-22484455 |
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Fax No.: |
91-33-22483500 |
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Email : |
ambercredit@vsnl.com |
CAPITAL STRUCTURE
AS ON 28.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs. 10/- Each |
Rs.15.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1010000 |
Equity Shares |
Rs. 10/- Each |
Rs.10.100 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.100 |
4.100 |
4.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.197 |
0.935 |
0.834 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
20.297 |
5.035 |
4.934 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.766 |
0.000 |
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2] Unsecured Loans |
14.315 |
25.134 |
19.790 |
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TOTAL BORROWING |
14.315 |
25.900 |
19.790 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
34.612 |
30.935 |
24.724 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.697 |
1.538 |
1.373 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.416 |
0.486 |
1.186 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.279
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6.166 |
4.906 |
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Sundry Debtors |
31.039
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25.876 |
21.606 |
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Cash & Bank Balances |
1.139
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0.038 |
1.152 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.993
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1.692 |
2.396 |
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Total
Current Assets |
39.450
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33.772 |
30.060 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
5.951
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4.862 |
7.878 |
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Provisions |
0.000
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0.000 |
0.016 |
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Total
Current Liabilities |
5.951
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4.862 |
7.894 |
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Net Current Assets |
33.499
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28.910 |
22.165 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
34.612 |
30.935 |
24.724 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
76.826 |
66.759 |
63.806 |
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Other Income |
0.519 |
0.862 |
0.473 |
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Total Income |
77.345 |
67.621 |
64.279 |
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Profit/(Loss) Before Tax |
0.402 |
0.165 |
0.280 |
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Provision for Taxation |
0.140 |
0.065 |
0.093 |
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Profit/(Loss) After Tax |
0.262 |
0.100 |
0.187 |
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Expenditures : |
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Administrative Expenses |
1.737 |
1.876 |
1.085 |
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Cost of goods sold |
73.097 |
0.000 |
0.000 |
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Depreciation & Amortization |
0.210 |
0.225 |
0.226 |
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Interest |
1.899 |
0.000 |
0.000 |
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Other Expenditure |
0.000 |
65.355 |
62.688 |
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Total Expenditure |
76.943 |
67.456 |
63.999 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.33
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00.14 |
00.29 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.52
|
00.24 |
00.43 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.99
|
00.46 |
00.85 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
03.27 |
05.67 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.99
|
6.10 |
5.61 |
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Current Ratio (Current Asset/Current Liability) |
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6.62
|
6.94 |
3.80 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
K.D. SAREES PRIVATE LIMITED |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited |
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Income Tax Registration |
AABCK2105N |
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Name of Bank |
ICICI Bank |
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Current Account Number |
627905003221 |
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Account Since |
5 Years |
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Creditability
Factor |
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Indiamart Client Since |
8 Months |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.48.83 |
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|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.65.86 |
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 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
41 |
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 |
|