MIRA
INFORM REPORT
|
Report Date : |
28.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
KARYTRON ELECTRICALS PRIVATE LIMITED |
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|
|
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Registered Office
: |
206, Pankaj Tower-I, G-5, Commercial Complex, Vikaspuri, New
Delhi-110018 |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.02.2008 |
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Com. Reg. No.: |
174713 |
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Capital
Investment / Paid-up Capital : |
Rs.5.998
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U31401DL2008PTC174713 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELK09930E |
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PAN No.: [Permanent Account No.] |
AADCK2915J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Electrical Control Panel. |
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No. of Employees
: |
50 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 46000 |
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|
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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 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. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Ajay Kohli |
|
Designation : |
Director |
|
Contact No.: |
91-9811147688 |
|
Date : |
20.12.2011 |
LOCATIONS
|
Registered Office/ Factory : |
206, Pankaj Tower-I, G-5, Commercial Complex, Vikaspuri, New
Delhi-110018, India |
|
Tel. No.: |
91-11-45620856/45620857/65454780 |
|
Mobile No.: |
91-9811147688 [Mr. Ajay Kohli] |
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Fax No.: |
91-11-45620858 |
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E-Mail : |
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|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ajay Kohli |
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|
Designation : |
Director |
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Address : |
House No. D-63, Ajay Enclave, Tilak Nagar, New Delhi-110018, India |
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Date of Birth/Age : |
15.11.1973 |
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Date of Appointment : |
28.02.2008 |
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Din No.: |
02064200 |
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Other Directorship:
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Name : |
Mrs. Sanjana Ajay Kohli |
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Designation : |
Director |
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|
Address : |
House No. D-63, Ajay Enclave, Tilak Nagar, New Delhi-110018, India |
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Date of Birth/Age : |
12.02.1975 |
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Date of Appointment : |
28.02.2008 |
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Din No.: |
02064224 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Kohli |
|
177800 |
|
Sanjana Ajay Kohli |
|
79500 |
|
Ramesh Chand Kohli |
|
90000 |
|
Anil Kohli |
|
20000 |
|
Manish Kumar |
|
12000 |
|
Yogender Singh |
|
8000 |
|
Kapil Lamba |
|
60000 |
|
Sudesh Lamba |
|
10000 |
|
Ram Murti Malhotra |
|
62500 |
|
Anuj Chawla |
|
50000 |
|
Alok Gupta |
|
10000 |
|
Vikram Malhotra |
|
20000 |
|
|
|
|
|
Total |
|
599800 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electrical Control Panel. |
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|
Products : |
·
L.T Panels For Mains and Distributions ·
Relay Control and RTC Panel ·
MCC (Motor Control Centre) Panels ·
APFC Panels ·
Changeover Cum Power Control Center ·
AMF Cum Synchronizing Panels ·
PLC and Drives Panels ·
Feeder Piller |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
50 [Approximately] |
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Bankers : |
Punjab National Bank, Railway Road, Bahadurgarh-124507, Haryana, India
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Facilities : |
Note: 1.
Term loan referred to above to the extent of Rs.6.879
millions is primary secured by way of first charge of entire fixed assets
including equitable mortgage of land and building situated at O-18, Old
Industrial Area, Bahadurgarh, Haryana and personal guarantee of all the
directors. 2.
Cash credit loan referred to above to the extent
of Rs.5.919 millions is secured by hypothecation of all present and future
stock, raw material, packing materials, work in progress, finished goods
lying in the factory premises as well as in transit, stores and spares parts
relating to the plant and machinery, present and future book debts,
receivable and personal guarantee of all the directors. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
GSK and Associates Chartered Accountants |
|
Address : |
8, First Floor, Rani Jhansi Road, Motia Khan, Industrial Area, New
Delhi-110055, India |
|
Pan No.: |
AADFG5824B |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
599800 |
Equity Shares |
Rs.10/- each |
Rs.5.998
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.998 |
5.998 |
2.500 |
|
|
2] Share Application Money |
4.500 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.203 |
0.797 |
0.009 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
11.701 |
6.795 |
2.509 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.938 |
15.759 |
7.704 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.348 |
|
|
TOTAL BORROWING |
13.938 |
15.759 |
8.052 |
|
|
DEFERRED TAX LIABILITIES |
0.678 |
0.317 |
0.074 |
|
|
|
|
|
|
|
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TOTAL |
26.317 |
22.871 |
10.635 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
16.019 |
14.666 |
6.914 |
|
|
Capital work-in-progress |
2.346 |
1.114 |
1.588 |
|
|
|
|
|
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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 |
|
|
|
|
|
|
Inventories |
15.433
|
9.526 |
1.546 |
|
|
Sundry Debtors |
5.880
|
4.154 |
3.603 |
|
|
Cash & Bank Balances |
0.652
|
0.432 |
0.493 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.734
|
0.839 |
0.663 |
|
Total
Current Assets |
22.699
|
14.951 |
6.305 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.843
|
3.596 |
3.373 |
|
|
Other Current Liabilities |
3.305
|
4.037 |
0.764 |
|
|
Provisions |
0.695
|
0.359 |
0.093 |
|
Total
Current Liabilities |
14.843
|
7.992 |
4.230 |
|
|
Net Current Assets |
7.856
|
6.959 |
2.075 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.096 |
0.132 |
0.058 |
|
|
|
|
|
|
|
|
TOTAL |
26.317 |
22.871 |
10.635 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
26.420 |
13.722 |
8.835 |
|
|
|
Other Income |
0.003 |
0.000 |
0.015 |
|
|
|
TOTAL (A) |
26.423 |
13.722 |
8.850 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
21.967 |
15.817 |
8.283 |
|
|
|
Manufacturing Expenses |
1.098 |
0.655 |
1.280 |
|
|
|
Excise Duty on Sales |
0.840 |
0.000 |
0.000 |
|
|
|
Sale Tax on Sales |
1.020 |
0.357 |
0.000 |
|
|
|
Payments to and for Employees |
2.012 |
2.047 |
0.000 |
|
|
|
Administrative and Other Expenses |
1.785 |
1.610 |
0.619 |
|
|
|
Increase / Decrease in Stock |
(5.907) |
(7.980) |
(1.546) |
|
|
|
TOTAL (B) |
22.815 |
12.506 |
8.636 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.608 |
1.216 |
0.214 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.159 |
0.758 |
0.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.449 |
0.458 |
0.159 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.522 |
0.298 |
0.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.927 |
0.160 |
0.104 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.521 |
0.271 |
0.095 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.406 |
(0.111) |
0.009 |
|
|
|
|
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|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.406 |
(0.111) |
0.009 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.67 |
(0.18) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.54
|
(0.81) |
0.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.51
|
1.17 |
1.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.39
|
0.54 |
0.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.02 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.46
|
3.50 |
4.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.87 |
1.49 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
-- |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
This form is for |
Modification of charge |
|
Charge identification number of the
modified |
10155157 |
|
Corporate identity number of the company |
U31401DL2008PTC174713 |
|
Name of the company |
KARYTRON ELECTRICALS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
206, Pankaj Tower-I, G-5, Commercial Complex, Vikaspuri, New
Delhi-110018, India |
|
Type of charge |
Book Debts Movable Property [not being pledge] Immovable Property Others
|
|
Particular of charge holder |
Punjab National Bank, Railway Road, Bahadurgarh-124507, Haryana, India
|
|
Email |
|
|
Nature of description of the instrument
creating or modifying the charge |
1. Hypothecation of current assets 2. Hypothecation of goods & book debts
to secure cash credit facility 3. Agreement of guarantee 4. General Counter Indemnity |
|
Date of instrument Creating the charge |
08.10.2011 |
|
Amount secured by the charge |
Rs.17.500 Millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest 1. Cash Credit [Rs. 12.500 Millions]
=10.75% p.a. 2. Bank Guarantee [Rs. 5.000 Millions] =
10.75 % p.a. Terms of Repayment Repayable on demand Margin 1. Stock= 25% 2. Book Debts= 25% Extent and Operation of the charge Personal guarantee of: 1.Mr. Ajay Kohli [Director] 2. Mrs. Sanjana Kohli [Director] 3. Mr. Ramesh Chander Kohli |
|
Short particulars of the property charged |
Primary Security: Hypothecation of stock
of indigenous/imported raw material, stock in process, finished goods,
material and stores/spares in the company premises at the places of work,
godowns, depots or Elsewhere and hypothecation of book debts.
Colleral security: 1. Industrial Plot No. O-18, Old Industrial Area, Delhi Rohtak
Road, Bahardurgarh in the name of Karytron Electricals Private Limited. Industrial Plot No. 685, MIE, Bahadurgarh
in the name of Karytron Electricals Industries. Personal guarantee of: Mr. Ajay Kohli,
Mrs. Sanjana Kohli, Mr. Ramesh Chander Kohli. |
|
Date of latest modification prior to the
present modification |
12.03.2009 |
|
Particulars of the present
modification |
1. Renewal-cum- enhancement of FBWC limit
from Rs. 8.700 Millions to Rs. 12.500 Millions. 2. Review of existing Term Loan of Rs. 11.450
Millions (present outstanding is Rs. 6.040 Millions) 3. Enhancement of Bank Guarantee limit
from Rs. 2.500 Millions to Rs. 5.000 Millions |
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.52.89 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.69.15 |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.