MIRA
INFORM REPORT
|
Report Date : |
06.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
KRYSTAL INTEGRATED SERVICES PRIVATE LIMITED (w.e.f.19.05.2009) |
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Formerly Known
As : |
KRYSTAL TRADECOM PRIVATE LIMITED |
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Registered Office
: |
Krystal House 15 A 17, Shivaji Fort Cooperative Housing Society,
Duncans Causeway Road, Mumbai-400022, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.12.2000 |
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Com. Reg. No.: |
11-129827 |
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Capital
Investment / Paid-up Capital : |
Rs. 57.622 millions |
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CIN No.: [Company Identification
No.] |
U74920MH2000PTC129827 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK08215E |
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PAN No.: [Permanent Account No.] |
AABCK5816C |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Service Provider of Hospitality Recruitment Firms
and Repair Maintenance Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 440000 |
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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 reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Registered Office : |
Krystal House 15 A 17, Shivaji Fort Cooperative Housing Society,
Duncans Causeway Road, Mumbai-400022, Maharashtra, India |
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Tel. No.: |
91-22-24030220 |
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Fax No.: |
91-22-24030564 |
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E-Mail : |
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Website : |
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Branches : |
Located At ·
Dubai ·
Mumbai ·
Delhi ·
Pune ·
Bangalore ·
Indore ·
Nagpur ·
Nashik ·
Kolkata ·
Secunderabad ·
Goa |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Prasad Minesh Lad |
|
Designation : |
Director |
|
Address : |
16/c, Flat No.404, Kalpak Estate, S. M. Road, Antop Hill,
Mumbai-400037, Maharashtra, India |
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Date of Birth/Age : |
28.04.1971 |
|
Date of Appointment : |
01.12.2000 |
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DIN No : |
00221708 |
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Name : |
Mrs. Neeta Prasad Lad |
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Designation : |
Director |
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Address : |
16/c, Flat No.404, Kalpak Estate, S. M. Road, Antop Hill,
Mumbai-400037, Maharashtra, India |
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Date of Birth/Age : |
25.11.1966 |
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Date of Appointment : |
01.04.2006 |
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DIN No : |
01122234 |
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Name : |
Mr. Ravin Ramesh Lad |
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Designation : |
Director |
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Address : |
10/22, Rakhangi Mahal, Acharya Donge Marg, Parel, Mumbai-400012, Maharashtra,
India |
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Date of Birth/Age : |
09.01.1976 |
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Date of Appointment : |
15.10.2009 |
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DIN No : |
01710743 |
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Name : |
Mr. Satish Dinkar Salian |
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Designation : |
Director |
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Address : |
4B/34, Satya Apartment, Druga Employees cooperative Society, Samata
Nagar, Thane (West), Thane-400606, Maharashtra, India |
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Date of Birth/Age : |
26.08.1967 |
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Date of Appointment : |
15.10.2009 |
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DIN No : |
01710855 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. Prasad Minesh Lad Jt. Mrs. Neeta Prasad Lad, 16/c, Flat No.404,
Kalpak Estate, S. M. Road, Antop Hill, Mumbai-400037, Maharashtra, India |
3293600 |
|
Mrs. Neeta Prasad Lad Jt. Mr. Prasad Minesh Lad, 16/c, Flat No.404,
Kalpak Estate, S. M. Road, Antop Hill, Mumbai-400037, Maharashtra, India |
2268600 |
|
Shubham cinevision Private Limited, 15A/17, Krystal House, Shivaji
Fort Cooperative Housing Society, Duncans Causeway Road, Near Sion Talao,
Sion (East), Mumbai-400022, Maharashtra, India |
200000 |
|
|
|
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Total |
5762200 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
3.47 |
|
Directors or relatives of Directors |
96.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of Hospitality Recruitment Firms
and Repair Maintenance Services. |
GENERAL INFORMATION
|
Bankers : |
·
The Saraswat Co-operative Bank Limited, Kalpak Estate,
Shikh Mistry Marg, Antophill, Mumbai-400037, Maharashtra, India ·
ICICI Bank Limited, Land Markerce Course Circle,
Alkapuri, Baroda-390015, Gujarat, India |
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Facilities : |
Note: a.
Term loan is secured against sundry debtors. b.
Vehicle loans are secured against respective
vehicle
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
H. Y. Pancha and Company Chartered Accountant |
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Address : |
313, Janmabhoomi chambers, 29, Walchand Hirachand Marg, Mumbai-400001,
Maharashtra, India |
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Tel. No.: |
91-22-22616228 / 22705659 |
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Subsidiaries : |
Flame Facilities Private Limited CIN No : U74990MH2008 PTC188793 Krystal Techno Engineering and Infrastructure Private Limited CIN No : U45303MH2007PTC171929 Krystal Gourmet Private Limited CIN No : U15400MH2009PTC195359 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5762200 |
Equity Shares |
Rs.10/- each |
Rs. 57.622
Millions |
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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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
57.622 |
50.622 |
0.982 |
|
|
2] Share Application Money |
0.000 |
15.000 |
0.000 |
|
|
3] Reserves & Surplus |
52.633 |
13.695 |
23.974 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
110.255 |
79.317 |
24.956 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
135.725 |
43.456 |
10.849 |
|
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2] Unsecured Loans |
1.606 |
3.816 |
5.629 |
|
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TOTAL BORROWING |
137.331 |
47.272 |
16.478 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
247.586 |
126.589 |
41.434 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
72.562 |
74.821 |
24.691 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
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INVESTMENT |
12.169 |
5.515 |
2.491 |
|
|
DEFERREX TAX ASSETS |
1.149 |
0.005 |
0.095 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.583
|
1.113 |
0.000 |
|
|
Sundry Debtors |
184.468
|
130.307 |
69.844 |
|
|
Cash & Bank Balances |
6.884
|
8.746 |
6.447 |
|
|
Other Current Assets |
15.274
|
6.330 |
4.414 |
|
|
Loans & Advances |
78.544
|
67.036 |
41.171 |
|
Total
Current Assets |
287.753
|
213.532 |
121.876 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.803
|
6.501 |
1.000 |
|
|
Other Current Liabilities |
43.340
|
82.701 |
68.385 |
|
|
Provisions |
81.904
|
78.082 |
38.334 |
|
Total
Current Liabilities |
126.047
|
167.284 |
107.719 |
|
|
Net Current Assets |
161.706
|
46.248 |
14.157 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
247.586 |
126.589 |
41.434 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
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Income |
|
|
|
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|
Other Income |
|
|
|
|
|
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TOTAL |
|
627.644 |
358.685 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Financial |
|
581.383 |
343.735 |
|
|
|
Depreciation |
|
|
|
|
|
|
Advertising Expenses |
|
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|
|
|
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TOTAL |
|
581.383 |
343.735 |
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
|
46.261 |
14.950 |
|
|
|
|
|
|
|
|
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Less |
TAX |
|
14.581 |
5.590 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
31.680 |
9.360 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
33.334 |
23.974 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
65.014 |
33.334 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
5.49 |
1.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.05
|
2.61 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.80
|
5.18 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.19 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.39
|
2.71 |
4.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.28
|
1.28 |
1.13 |
LOCAL AGENCY FURTHER INFORMATION
FUTURE OUTLOOK
The company is deploying it’s resources in the best possible way to
increase business volumes and plans to achieve increased business in the
current year
FORM 8
|
Corporate identity
number of the company |
U74920MH200PTC129827 |
|
Name of the
company |
KRYSTAL INTEGRATED SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Krystal House 15 A 17, Shivaji Fort Cooperative Housing Society,
Duncans Causeway Road, Mumbai-400022, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
ICICI Bank Limited, Land Markerce Course Circle, Alkapuri,
Baroda-390015, Gujarat, India |
|
Nature of
instrument creating charge |
Deed of Hypothecation |
|
Date of
instrument Creating the charge |
03.05.2010 |
|
Amount secured by
the charge |
Rs. 260.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash
credit: IBAR + CC Premia - 3.25% p.a. WCDL:
As stipulated by bank Line
of Credit for Short Term Loans: IBAR + 6M TP + Liquidity premia - 1.05% p.a. BG
Commission: 1.05% and handling fees: 0.95% pa. Terms of
repayment On demand Margin Cash
credit / WCDL: Uniform margin of 25% against all components of inventory and
book debts (cover period for book debts 120 days) Bank
Guarantee: Guarantees covering disputed liabilities - 100% Performance
Guarantee - 15% Financial
Guarantee - 15% Extent and
operation of the charge 1.
First exclusive charge on entire book-debts, bills whether documentary or
clean, outstanding monies, receivables both present and future 2.
First and exclusive charge on machinery / equipments to be purchased out of
the proposed funding from ICICI Bank Limited 3.
Charge by way of hypothecation on the entire present and future moveable and
unencumbered fixed assets of the company Other The
above is to secure the Cash Credit Rs. 180 million, WCDL (As a sublimit of
Cash Credit) Rs. 180 million, Bank Guarantee Rs. 80 million Counter Guarantee
(As a sublimit of Bank Guarantee) Rs. 25 million |
|
Short particulars
of the property charged (Including location of the property) |
First
exclusive charge on entire book-debts, bills whether documentary or clean,
outstanding monies, receivables both present and future First
and exclusive charge on machinery / equipments to be purchased out of the
proposed funding from ICICI Bank Limited Charge by way of hypothecation on
the entire present and future moveable and unencumbered fixed assets of the
company |
FIXED ASSETS
·
Air Conditioners
·
Computer
·
Electrical Equipments
·
Fax Machines
·
Furniture and Fixtures
·
Motor Vehicles
·
Office Equipments
·
Telephone and Mobile
·
Plant and Machinery
WEB SITE DETAILS
HISTORY
It is their pleasure to bring to the fore Krystal Group of Companies. This
business house has been in the business of providing companies with
professional and skilled manpower since 2001.
In the years ahead the consistent quality and effective resources have
not only helped in growth but also bolstered respect in the industry. Moreover,
this is the only business house that does not outsource recruitment of man or
machine.
Krystal Group of Companies is a leading Facility Management company
operating all over India with over 10,000 employees. Today the Group boasts a
strong and lasting association with over 200 satisfied customers.
Their Pan-India network provides security solutions through the length
and breadth of the country. This reach has also helped us cater to a wide
selection of clientele who include Multinationals, Hotels, Corporate, Financial
and Educational Institutes, Malls and BPOs Retails outlets etc.
PROFILE
Why go to ten different vendors when one business house can provide it
all? No more logistical delays and no more worries of coordinating just leave
it to us to take care of it all.
Subject has an excellent infrastructure backup, which can support and
meet the needs of any industry. They are a multidimensional group of
companies with futuristic and innovative solutions in various fields.
They have trained, dedicated, committed, experienced and qualified manpower and
latest technology machines and equipments which fulfills their clients
requirements. They are having their own full-fledged hospitality training
school in Karjat.
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.44.50 |
|
|
1 |
Rs.71.25 |
|
Euro |
1 |
Rs.64.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.