Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
KIMBERLEY ENGINEERS P LIMITED |
Principal Name 1 |
Mr. Soli Dhabhar |
|
Status |
Moderate |
Principal Name 2 |
Mr. Lila Dhar Sharma |
|
|
|
Registration # |
079302 |
|
Street Address |
402 Konark Shramm M Malaviya Road, Tardeo, Mumbai 400034, Maharashtra |
||
|
Established Date |
29.06.1994 |
SIC Code |
-- |
|
Telephone# |
91-22-23514910 |
Business Style 1 |
Manufacturer of Diamond Impregnated Tools |
|
Fax # |
91-22-23514240 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 1,800,000 |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors 100.00 |
Banking |
Bank of India Limited |
|
Public Limited Corp. |
-- |
Business Period |
17 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
B (29) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
31,795,000 |
Current Liabilities |
3,227,000 |
|
Inventories |
15,167,000 |
Long-term Liabilities |
4,644,000 |
|
Fixed Assets |
29,578,000 |
Other Liabilities |
1,911,000 |
|
Deferred Assets |
0 |
Total Liabilities |
9,782,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
64,958,000 |
|
|
|
Net Worth |
66,758,000 |
|
Total Assets |
76,540,000 |
Total Liab. & Equity |
76,540,000 |
|
Total Assets (Previous Year) |
90,024,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
30,800,000 |
Net Loss |
1,000,000 |
|
Sales(Previous yr) |
38,200,000 |
Net Loss (Prev.yr) |
7,200,000 |
MIRA
INFORM REPORT
|
Report Date : |
25.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
KIMBERLEY ENGINEERS P LIMITED |
|
|
|
|
Registered
Office : |
402 Konark Shramm M Malaviya Road, Tardeo, Mumbai 400034, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
29.06.1994 |
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|
|
|
Com. Reg. No.: |
079302 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.800 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920MH1994PTC079302 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK11523B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK2908F |
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|
|
|
Legal Form : |
Private Limited Liability Company
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|
|
|
Line of Business
: |
Manufacturer of Diamond Impregnated Tools |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 267000 |
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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 is under pressure. 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
402 Konark Shramm M Malaviya Road, Tardeo, Mumbai 400034, Maharashtra,
India |
|
Tel. No.: |
91-22-23514910 |
|
Fax No.: |
91-22-23514240 |
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E-Mail : |
|
|
|
|
|
Factory 1: |
5 Kusum Industrial Estate Hamrapur, Taluka Wada District Thane 421303,
Mahatashtra, India |
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|
|
|
Factory 2 : |
95, N Bahrucha MArg, Mumbai 400007, Maharashtra, India |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Soli Dhabhar |
|
Designation : |
Director |
|
Date of Birth/Age : |
14.11.1935 |
|
Date of Appointment : |
29.06.1994 |
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|
|
|
Name : |
Mr. Lila Dhar Sharma |
|
Designation : |
Director |
|
Date of Birth/Age : |
03.03.1949 |
|
Date of Appointment : |
29.06.1994 |
|
|
|
|
Name : |
Mr. Manoj Katira |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.11.1959 |
|
Date of Appointment : |
29.06.1994 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. Soli Dhabhar |
6000 |
|
Mr. Lila Dhar Sharma |
6000 |
|
Mr. Manoj Katira |
6000 |
|
Total |
18000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diamond Impregnated Tools |
PRODUCTION STATUS
AS ON 31.03.2010
|
Particulars |
Unit |
Installed
Capacity |
|
Diamond Impregnated Tools |
Pieces P.A |
1050000 Double Shift
Basis |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Bank of India Limited,
Tardeo Road, Branch, Hotel Rosewood Building, Tulsiwadi Road, Tardeo, Mumbai
400034, Maharashtra, India |
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Financial Institution: |
Maharashtra States Financial Corporation, New Excelssior Building,
Amrit Keshav Nayak Marg, Bombay 400001, Maharashtra, India |
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Facilities : |
Rs. In Millions
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|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Dayal and Lohia Chartered Accountant |
|
Address : |
Kamanwala Chambers, 1st Floor, Office Nos. 6 and 7, Sir P M
Road, Fort, Mumbai 400001, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs. 10 each |
Rs. 3.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000 |
Equity Shares |
Rs. 10 each |
Rs.1.800 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 |
1.800 |
1.800 |
1.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
64.958 |
65.922 |
73.150 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
66.758 |
67.722 |
74.950 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.244 |
1.522 |
3.532 |
|
|
2] Unsecured Loans |
2.400 |
10.950 |
13.463 |
|
|
TOTAL BORROWING |
4.644 |
12.472 |
16.995 |
|
|
DEFERRED TAX LIABILITIES |
1.911 |
3.103 |
4.127 |
|
|
|
|
|
|
|
|
TOTAL |
73.313 |
83.297 |
96.072 |
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|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
29.578 |
32.775 |
36.872 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.416 |
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|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.167
|
17.511 |
14.656 |
|
|
Sundry Debtors |
28.861
|
36.899 |
45.411 |
|
|
Cash & Bank Balances |
1.006
|
0.988 |
1.315 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1.928
|
1.851 |
2.857 |
|
Total
Current Assets |
46.962
|
57.249 |
64.239 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.376
|
3.340 |
3.131 |
|
|
Other Current Liabilities |
1.851
|
3.387 |
2.324 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
3.227
|
6.727 |
5.455 |
|
|
Net Current Assets |
43.735
|
50.522 |
58.784 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
73.313 |
83.297 |
96.072 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
30.800 |
38.200 |
52.800 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
30.800 |
38.200 |
52.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
27.500 |
39.700 |
58.800 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
27.500 |
39.700 |
58.800 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.300 |
(1.500) |
(6.000) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.100 |
1.800 |
2.100 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.200 |
(3.300) |
(8.100) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4.400 |
4.700 |
4.800 |
|
|
|
|
|
|
|
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|
|
PROFIT BEFORE
TAX (E-F) (G) |
(2.200) |
(8.000) |
(12.900) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.200) |
(0.800) |
(0.600) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(1.000) |
(7.200) |
(12.300) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(54.00) |
(402.00) |
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(3.24) |
(18.84) |
(23.29) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(7.14) |
(20.94) |
(24.43) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.87) |
(8.88) |
(12.75) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03)
|
(0.11) |
(0.17) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.14
|
0.32 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.55
|
8.51 |
11.77 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The Total Income
during the year was lower at Rs. 30.800 millions as against Rs. 38.200 millions
of the previous year. During the year the Board completely overhauled the sales
and service set up. The Board realigned the sales responsibility amongst the
Board members and downsized set up at Rajasthan. A conscious decision was taken
by the Board of partially withdrawing from the Rajasthan market which was not
only un-remunerative but also highly perilous as the Company had to expend
large amounts of claims and bad debts. The Company developed new markets in
Gujarat where realizations are better and money safe. A new performance based
incentive scheme was introduced for the sales staff which yielded good results.
The emphasis is now on full recovery of sales proceeds rather than on volume
sales.
All these measures
coupled with strict cost control resulted in the Company positing operating
profits after a gap of 3 years. It is hearting to note that the new strategy
adopted by the Board has yielded in operating profit of Rs. 3.300 millions as
against operating loss of Rs. 1.500 millions of the previous year.
The directors are
now confident that with the new initiatives being effective, the Company will
regain its financial strength and market position in a foreseeable future.
FIXED ASSETS:
·
Land
·
Factory Building
·
Office Premises
·
Plant and Machinery
·
Moulds
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Vehicles
FORM 8
|
Corporate identity number of the company |
U28920MH1994PTC079302 |
|
Name of the company |
KIMBERLEY ENGINEERS P LIMITED |
|
Address of the registered office or of the principal place of business in |
402 Konark Shramm M Malaviya Road, Tardeo,
Mumbai 400034, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Equitable mortgage or mortgage of property
by depositing the title deeds |
|
Particular of charge holder |
Bank of India Limited, Tardeo Road, Branch, Hotel Rosewood Building,
Tulsiwadi Road, Tardeo, Mumbai 400034, Maharashtra, India Email: boitardeo@mtnl.net |
|
Amount secured by the charge |
Rs. 4.000 millions |
|
Description of the property charged
indicating whether it is a charge on |
Immovable propert |
|
Particulars of the property charged
(including location of the property) |
Gala
nos. 3, 4 and 5 on ground floor, admeasuring 1656 sq. Ft. Out of sub divided
plot nos.9 & 10 forming part of land gat no.18 corresponding survey
nos.12 and 15/1, kusum industrial estate, situated within the village limits
of hamrapur, taluka wada, district thane. |
|
Brief description of the instrument
modifying the charge under section 135 |
Noting of Equitable Mortgage |
|
Date of instrument modifying the charge |
20.06.2006 |
|
Particulars of the present modification |
The Title Deeds of The Company's Immovable
Properties Has Been Handed Over By Msfc To Bank Of India, Tardeo Branch To
Secure The Total Credit Limits Of Rs.6.000 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.44.37 |
|
|
1 |
Rs.72.34 |
|
Euro |
1 |
Rs.63.87 |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--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 |
|
29 |
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.