MIRA
INFORM REPORT
|
Report Date : |
10.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
KAVERI METALLISING AND COATING INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 11, Kamaldeep Industrial Estate, Opposite New Arvind Mill, Village Khatraj, Taluka
Kalol, District Gandhinagar – 382721, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.12.1999 |
|
|
|
|
Com. Reg. No.: |
04-037028 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.863 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ1999PTC037028 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and Trader of BOPP Polyester Film |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 111796 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Dhruv Dani |
|
Designation : |
Director |
|
Contact No.: |
91-9824249919 |
|
Date : |
08.08.2011 |
LOCATIONS
|
Registered Office/Warehouse/Factory : |
Plot No. 11, Kamaldeep Industrial Estate, Opposite New Arvind Mill, Village Khatraj, Taluka
Kalol, District Gandhinagar – 382721, |
|
Tel. No.: |
91-2764-281536/281537/251538/281539 |
|
Mobile No.: |
91-9824249919 (Mr. Dhruv Bharatkumar Dani) |
|
Fax No.: |
91-2764-281501 |
|
E-Mail : |
|
|
Website : |
-- |
|
Area : |
7500 sq. yard |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Bharatkumar Babulal Dani |
|
Designation : |
Director |
|
Address : |
16, Vasupujya Bunglows, Satellite Road, Ahmadabad-380015, Gujarat,
India |
|
Date of Appointment : |
16.12.1999 |
|
DIN No : |
01471507 |
|
|
|
|
Name : |
Mr. Dhruv BharatKumar Dani |
|
Designation : |
Director |
|
Address : |
16, Vasupujya Bunglows, Satellite Road, Ahmadabad-380015, Gujarat,
India |
|
Date of Appointment : |
16.12.1999 |
|
DIN No : |
01537084 |
|
|
|
|
Name : |
Ms. Pragna Bharatkumar Dani |
|
Designation : |
Additional Director |
|
Address : |
16, Vasupujya Bunglows, Satellite Road, Ahmadabad-380015, Gujarat,
India |
|
Date of Appointment : |
01.02.2011 |
|
DIN No : |
03439391 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Bharat Kumar Dani |
433389 |
|
Pragna Dani |
192510 |
|
Dhruv Dani |
153921 |
|
Ajit R. Patel |
596980 |
|
Hitesh Dani |
53800 |
|
Hemal Dani |
38000 |
|
Suryakant Goda |
30000 |
|
Vandana Goda |
23000 |
|
Pushpa Dani |
45000 |
|
Radhika Dani |
30000 |
|
Ajit Dani, HUF |
13300 |
|
Bharat Dani, HUF |
8750 |
|
Crown Trade Link Private Limited, India |
128750 |
|
Bharat Dani, HUF |
8750 |
|
Aarti Mehta |
4030 |
|
Ajit Dani, HUF |
8350 |
|
Ajit R. Patel |
75000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
6.00 |
|
Directors or relatives of Directors |
94.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Trader of BOPP Polyester Film |
|
|
|
|
Exports : |
|
|
Products : |
·
Bopp Films ·
LDPE Films ·
Polyester Films |
|
Countries : |
·
African Countries |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Material ·
Basic Polyester Films |
|
Countries : |
·
Indonesia ·
Canada ·
USA ·
Australia |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days) 70% - advance |
|
|
|
|
Purchasing : |
Imports Advance TT, Local Advance |
GENERAL INFORMATION
|
No. of Employees : |
25 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Saurashtra, Bhadra Branch,
Ahmedabad-380001, Gujarat, India ·
City Union Bank Limited, 149, Big Street,
Kumbakonam, Tanjore District-612001, Tamil Nadu, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dhariwal and Associates Chartered Accountant |
|
Address : |
101, Shivalik 09, opposite BSNL, Near Vasundhara Society, Gulabi
Tekra, Ellsebridge, Ahmadabad-380006, Gujarat, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1986275 |
Equity Shares |
Rs.10/- each |
Rs. 19.863
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.863 |
19.862 |
20.084 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9.115 |
8.087 |
6.976 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
28.978 |
27.949 |
27.06 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
16.228 |
10.161 |
11.911 |
|
|
2] Unsecured Loans |
6.275 |
3.455 |
4.480 |
|
|
TOTAL BORROWING |
22.503 |
13.616 |
16.391 |
|
|
DEFERRED TAX LIABILITIES |
3.626 |
3.760 |
1.675 |
|
|
|
|
|
|
|
|
TOTAL |
55.107 |
45.325 |
45.126 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.775 |
20.431 |
21.917 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
25.503
|
22.747
|
14.986 |
|
|
Sundry Debtors |
11.050
|
9.290
|
10.814 |
|
|
Cash & Bank Balances |
0.162
|
0.160
|
0.013 |
|
|
Other Current Assets |
0.000
|
0.00
|
0.000 |
|
|
Loans & Advances |
2.474
|
2.366
|
1.729 |
|
Total
Current Assets |
39.189
|
34.563 |
27.542 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.877
|
8.745
|
3.814 |
|
|
Other Current Liabilities |
0.531
|
0.543
|
0.176 |
|
|
Provisions |
0.448
|
0.383
|
0.344 |
|
Total
Current Liabilities |
3.856
|
9.671 |
4.334 |
|
|
Net Current Assets |
35.333
|
24.892
|
23.204 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.002 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
55.108 |
45.325 |
45.126 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
81.045 |
69.554 |
65.205 |
|
|
|
Other Income |
NA |
NA |
0.280 |
|
|
|
TOTAL (A) |
NA |
NA |
65.485 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
|
49.184 |
|
|
|
Manufacturing Expenses |
|
|
8.180 |
|
|
|
Increase/Decrease in Stock |
|
|
0.228 |
|
|
|
Administrative Expenses |
|
|
4.108 |
|
|
|
TOTAL (B) |
79.506 |
70.214 |
61.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[Including Financial |
[Including Financial |
3.785 |
|
|
|
|
And |
And |
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
Depreciation |
Depreciation |
1.382 |
|
|
|
|
Expenses ] |
Expenses ] |
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
2.403 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
1.585 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.062 |
0.927 |
0.818 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.170 |
0.119 |
0.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.892 |
0.808 |
0.712 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.085 |
5.231 |
4.519 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.977 |
6.039 |
5.231 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.53 |
0.41 |
0.35 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
|
|
|
|
|
The above information has been parted by Mr. Dhruv Dani.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA |
1.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.31
|
1.33 |
1.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.80
|
1.68 |
1.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.03
|
0.97 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.16
|
3.57 |
1.18 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors for Goods |
5.927 |
8.445 |
3.589 |
|
Sundry Creditors for Imported Goods |
(3.558) |
0.000 |
0.000 |
|
Sundry Creditors for Expenses |
0.508 |
0.300 |
0.225 |
|
Total |
2.877 |
8.745 |
3.814 |
FORM 8
|
Corporate
identity number of the company |
U25209GJ1999PTC037028 |
|
Name of the
company |
KAVERI METALLISING AND COATING INDUSTRIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No. 11, Kamaldeep Industrial Estate, Opposite New Arvind Mill, Village Khatraj, Taluka
Kalol, District Gandhinagar – 382721, Gujarat, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
City Union Bank Limited, 149, Big Street, Kumbakonam, Tanjore
District-612001, Tamil Nadu, India |
|
Nature of
instrument creating charge |
Agreement of loan cum
hypothecation dated 28.02.2011 |
|
Date of
instrument Creating the charge |
28.02.2011 |
|
Amount secured by
the charge |
Rs. 22.000 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest OLCC : 11% P.A. Terms of
repayment OLCC: Payable On Demand Margin OLCC: 20% Extent and
operation of the charge First and exclusive charge in favour of The City Union Bank Limited by
way of hypothecation of the movable assets such as Plant and Machineries,
stocks, book debts other receivables as described in Item No. 15 as security
for the repayment /payment by the company of the loan granted or to be
granted to the company by the Bank together with all fees, interest, costs
and expenses incurred/to be incurred by the Bank and all other monies payable
or to become payable by the company to the Bank. Other The Bank shall be absolutely entitled and have full power and
authority to sell, assign or transfer in any manner, in whole or in part, and
in such manner and on such terms as the Bank may decide, including reserving
a right to the Bank to retain its power to proceed against the company on
behalf of the purchaser, assignee or transferee, any or all outstanding dues
of the company, to any third party of the Bank's choice without reference to
or without written intimation to the company |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of Stock and Book Debts, all Machineries of the company.
Stocks situated at 11, Kamaldeep Industrial Estate, Village: Khatraj-382721,
Taluka Kalol or in transit or elsewhere Hypothecation of Machineries of the company situated at 11, Kamaldeep
Industrial Estate, Village: Khatraj-382721, Taluka Kalol. |
TRADE REFERENCES
- Parikh Packaging Private Limited, Changoder, Ahmadabad
- Samrat Namkeen Private Limited, Ahmadabad
FIXED ASSETS:
- Land and Development
- Building
- Plant and Machinery
- Office Equipment
- Car
- Computers
- Furniture and Fixtures
- Laboratory Equipments
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. 45.17 |
|
|
1 |
Rs. 73.71 |
|
Euro |
1 |
Rs. 64.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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 |
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 |
|
- |
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.