MIRA INFORM REPORT
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Report Date : |
20.04.2011 |
Note:- Given Address could not be Confirmed
IDENTIFICATION DETAILS
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Name : |
KARAM INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
H.No. 1163, Sector 8, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
16.06.1999 |
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Com. Reg. No.: |
53 - 022692 |
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CIN No.: [Company Identification
No.] |
U00000H1999PTC022692 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTLK10860D/ PTLK10268G |
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PAN No.: [Permanent Account No.] |
AABCK0660J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
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Manufacturer of Reclaim Rubber |
RATING & COMMENTS
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MIRA’s Rating : |
B(28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 28000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. Trade relations are fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some slight
cautions |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
H.No. 1163, Sector 8, |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Vikram Singh Swani |
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Designation : |
Managing Director |
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Date of Birth/Age : |
27.04.1972 |
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Address : |
H No. 316, Sector – 9, |
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Date of Appointment : |
01.12.2009 |
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DIN No.: |
00129503 |
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Name : |
Mr. Devinder Singh Swani |
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Designation : |
Director |
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Address : |
H No. 316, Sector – 9, |
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Date of Appointment : |
22.02.2007 |
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DIN No.: |
00187013 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Vikram Singh Swani |
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45000 |
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Davinder Singh Swani |
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5100 |
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Total |
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50100 |
Note:- Equity Share Break up
As on 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Reclaim Rubber |
PRODUCTION STATUS AS ON 31.03.2010
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Reclaimed Rubber |
Tones |
4000.000 |
4000.000 |
1623.750 |
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Total |
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4000.000 |
4000.000 |
1623.750 |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. Pathania and Associates Chartered Accountant |
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Address : |
H. No. 1665, Phase – 5, Sector 59, Mohali – 160054, |
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Tel. No.: |
0172-2272986 |
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Mobile No.: |
9876172986 |
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Fax No.: |
0172-2272986 |
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E-Mail : |
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PAN No.: |
AASPP5156G |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50100 |
Equity Shares |
Rs.100/- each |
Rs. 5.010
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.010 |
5.010 |
5.010 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.132 |
1.805 |
1.515 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.142 |
6.815 |
6.525 |
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LOAN FUNDS |
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1] Secured Loans |
5.826 |
6.594 |
5.246 |
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2] Unsecured Loans |
12.256 |
9.163 |
6.310 |
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TOTAL BORROWING |
18.082 |
15.757 |
11.556 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
25.224 |
22.572 |
18.081 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.871 |
19.471 |
14.330 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
0.954
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1.322 |
1.500 |
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Sundry Debtors |
6.484
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5.659 |
8.387 |
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Cash & Bank Balances |
0.665
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1.586 |
0.012 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.750
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1.078 |
2.500 |
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Total
Current Assets |
9.853
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9.645 |
12.399 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.488
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5.255 |
5.902 |
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Other Current Liabilities |
1.892
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1.184 |
2.661 |
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Provisions |
0.120
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0.105 |
0.091 |
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Total
Current Liabilities |
5.500
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6.544 |
8.653 |
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Net Current Assets |
4.353
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3.101 |
3.746 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.005 |
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TOTAL |
25.224 |
22.572 |
18.081 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
35.830 |
37.807 |
35.656 |
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Other Income |
0.016 |
0.044 |
0.137 |
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TOTAL (A) |
35.846 |
37.851 |
35.793 |
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Less |
EXPENSES |
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Raw Material consumed |
14.836 |
15.979 |
16.063 |
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Salary, Wages and Other Benefits |
2.027 |
1.790 |
1.740 |
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Manufacturing and Operative Expenses |
14.635 |
15.484 |
14.161 |
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Administrative Expenses |
2.230 |
2.474 |
2.062 |
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TOTAL (B) |
33.728 |
35.727 |
34.026 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.118 |
2.124 |
1.767 |
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Less |
FINANCIAL
EXPENSES (D) |
0.729 |
0.767 |
0.566 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.389 |
1.357 |
1.201 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.891 |
0.974 |
0.739 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.498 |
0.383 |
0.462 |
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Less |
TAX (I) |
0.169 |
0.139 |
0.182 |
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PROFIT AFTER TAX
(G-I) (J) |
0.329 |
0.244 |
0.280 |
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Equity Per Share |
3.29 |
2.44 |
2.80 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.92
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0.64 |
0.78 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.39
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1.01 |
1.29 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.62
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1.31 |
1.73 |
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Return on Investment (ROI) (PBT/Networth) |
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0.07
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0.06 |
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.30
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3.27 |
3.10 |
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Current Ratio (Current Asset/Current Liability) |
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1.79
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1.47 |
1.43 |
LOCAL AGENCY FURTHER INFORMATION
Performance:
During the year the company had a turnover of Rs. 35.846 Millions as
compared to Rs. 37.851 Millions in the previous year. The net profit is to the tune
of Rs. 0.498 Millions as compared to Rs. 0.383 Millions during the previous
year after providing for depreciation of Rs. 0.891 Millions and interest of Rs.
0.729 Millions and provisions for tax Rs. 0.154 Millions.
Change of
Registered Office:
Registered Office of the company has been shifted from- Sco 104/05/ 06, Sector 34C,
Form 8
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Corporate
identity number of the company |
U00000CH1999PTC022692 |
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Name of the
company |
Karam Industries
Private Limited |
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Address of the
registered office or of the principal place of business in |
H No. 1163,
Sector – 8, |
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This form is for |
Modification
of Charge |
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Charge identification
(ID) number of the charge to be modified |
90310530 |
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Type of charge |
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Particular of
charge holder |
HDFC BankLimited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (W),
Mumbai – 400013, Maharasahtra, India |
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Nature of
instrument creating charge |
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Date of
instrument Creating the charge |
08.03.2011 |
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Amount secured by
the charge |
Rs. 7.216 Million |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest at the
rate as may be communicated by the Bank from time to time. Terms of
Repayment: Demand Margin: As may be
stipulated by the Bank from time to time Extent and
operation of the charge:
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
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Date of
instrument modifying the charge |
18.02.2007 |
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Particulars of
the present modification |
The Charge shall
now stand increased from Rs. 5.224 Million to Rs. 7.216 Million in favour the
Bank. |
Fixed Assets:
- Land
- Building
- Building
(Under Installation)
- Plant and
Machinery
- Plant and
Machinery (Under Installation)
- Equipment
- Scooters
- Furniture and
Fixture
- Cars
- Motor Cycle
- Computers
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.68 |
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1 |
Rs.72.56 |
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Euro |
1 |
Rs.63.53 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
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28 |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.