MIRA
INFORM REPORT
|
Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
KAPISH EXPORTS PRIVATE LIMITED |
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Registered
Office : |
B-21 Manoj Vihar Indirapuram, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.11.2005 |
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Com. Reg. No.: |
20-30942 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U17118UP2005PTC030942 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MRTK01104F |
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PAN No.: [Permanent Account No.] |
AACCK6887C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Readymade Garments |
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No. of Employees
: |
55 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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 1300 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings with some
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
INFORMATION PARTED BY
|
Name : |
Mr. Anand Sharma |
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Designation : |
Director |
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Contact No.: |
91-9810024562 |
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Date : |
16.08.2011 |
LOCATIONS
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Registered Office : |
B-21 Manoj Vihar Indirapuram, |
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Tel. No.: |
91-120-4323224 / 4355217 |
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Mobile No.: |
91-9810024562 (Mr. Anand Sharma) / 91-9810307545 (Ms. Sujata Sharma) |
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Fax No.: |
91-120-4323224 |
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E-Mail : |
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Location : |
Owned |
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Factory : |
D-171, Sector-10, District Gautam Budha
Nagar, Noida – 201301, |
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Tel. No.: |
91-120-4323224 / 4355217 |
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Fax No.: |
91-120-4323224 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Anand Sharma |
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Designation : |
Director |
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Address : |
D-171, Sector-10, District Gautam Budh Nagar, Noida – 201301, |
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Date of Birth/Age : |
24.10.1966 |
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Date of Appointment : |
09.11.2005 |
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DIN No.: |
00768807 |
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Name : |
Ms. Sujata Sharma |
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Designation : |
Director |
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Address : |
B-21 Manoj Vihar Indirapuram, |
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Date of Birth/Age : |
02.04.1957 |
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Date of Appointment : |
09.11.2005 |
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DIN No.: |
00768855 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. Anand Sharma |
5000 |
50% |
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Ms. Sujata Sharma |
5000 |
50% |
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Total |
10000 |
100% |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
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 Readymade Garments |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (30 Days and 60 Days) |
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Purchasing : |
Cash and Credit (30 Days and 60 Days) |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Units |
Actual
Production |
|
Kaftans |
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Sets |
26721 Sets |
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GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
55 (Approximately) |
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Bankers : |
Axis Bank, Noida Main Branch, Noida, |
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Financial Institution : |
Kotak Mahindra Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Y. Singh and Associates Chartered Accountant |
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Address : |
D-85, Sector-6, Noida – 201301, |
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Tel. No.: |
91-120-4321897 |
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Mobile No.: |
91-9811526936 |
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Fax No.: |
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E-Mail : |
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PAN.: |
AIQPS1524D |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.242 |
0.114 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.032) |
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NETWORTH |
0.342 |
0.214 |
0.068 |
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LOAN FUNDS |
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1] Secured Loans |
0.176 |
0.298 |
0.407 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.237 |
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TOTAL BORROWING |
0.176 |
0.298 |
0.644 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.518 |
0.512 |
0.712 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.731 |
0.989 |
1.201 |
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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 |
0.060 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.025
|
1.606 |
2.169 |
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Sundry Debtors |
1.631
|
2.631 |
0.382 |
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Cash & Bank Balances |
2.057
|
0.705 |
0.607 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.999
|
0.184 |
0.178 |
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Total
Current Assets |
5.712
|
5.126 |
3.336 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
4.020
|
4.357 |
2.199 |
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Other Current Liabilities |
1.791
|
1.171 |
1.536 |
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Provisions |
0.114
|
0.138 |
0.097 |
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Total
Current Liabilities |
5.925
|
5.666 |
3.832 |
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Net Current Assets |
(0.213)
|
(0.540) |
(0.496) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.003 |
0.007 |
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TOTAL |
0.518 |
0.512 |
0.712 |
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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 |
18.241 |
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Other Income |
0.169 |
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TOTAL |
18.410 |
16.617 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
NA |
NA |
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Advertising Expenses |
NA |
NA |
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Depreciation |
NA |
NA |
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Financial Charges |
NA |
NA |
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TOTAL |
18.107 |
16.545 |
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NA |
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PROFIT BEFORE
TAX |
0.302 |
0.224 |
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Less |
TAX |
0.174 |
0.078 |
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PROFIT AFTER TAX
|
0.128 |
0.146 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
15.035 |
11.554 |
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TOTAL EARNINGS |
15.035 |
11.554 |
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Earnings Per
Share (Rs.) |
12.8 |
14.6 |
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Particulars |
|
|
2010-2011 |
|
Sales Turnover (Approximately) |
|
|
18.800 |
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Profit for the year (Approximately) |
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|
1.316 |
The above information has been parted by Mr. Anand Sharma.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.70
|
0.88 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.66
|
1.35 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.69
|
3.66 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.88
|
1.05 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
17.84
|
27.87 |
66.12 |
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Current Ratio (Current Asset/Current Liability) |
|
0.96
|
0.90 |
0.87 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE :
During the year, the company made sale of
Rs.18.241 Millions as compared to Rs.16.617 Millions in previous year. However,
looking to the general scenario in the industry, the directors are satisfied
with the performance of the company. The directors are of the view that the
working of the company will improve considerably during the next year.
FIXED ASSETS :
- Air Conditioner
- Car
- Computer Software
- Computers and Printers
- Cycle
- Fan, Coolers, Air Conditioner
- Furniture
- Generator
- Machines
- Office 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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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.