1. Summary Information
|
|
|
Country |
|
|
Company Name |
CANBARA INDUSTRIES PRIVATE LIMITED |
Principal Name 1 |
Mr. Karunakar Menka Shetty |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Vasanthi Karunakar Shetty |
|
|
|
Registration # |
11-192247 |
|
Street Address |
147, Shivshakti Industrial Estate, Opposite Mittal Industrial Estate,
Andheri-Kurla Road, Marol, Andheri (East), Mumbai-400059, Maharashtra |
||
|
Established Date |
07.05.2009 |
SIC Code |
-- |
|
Telephone# |
91-22-28502235 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-28505701 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Mixers Grinders |
|
|
# of employees |
More than 350 (Approximately) |
Product Name 2 |
Food Processors |
|
Paid up capital |
Rs.6,000,000/- |
Product Name 3 |
Air Cooler |
|
Shareholders |
Directors or relatives of directors 100.00% |
Banking |
HDFC Bank
Limited |
|
Public Limited Corp. |
No |
Business Period |
1 Year |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
-- |
Aditya Industries |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
95,439,000 |
Current Liabilities |
131,378,000 |
|
Inventories |
97,981,000 |
Long-term Liabilities |
175,542,000 |
|
Fixed Assets |
136,169,000 |
Other Liabilities |
2,726,000 |
|
Deferred Assets |
150,000 |
Total Liabilities |
309,646,000 |
|
Invest& other Assets |
174,000 |
Retained Earnings |
14,267,000 |
|
|
|
Net Worth |
20,267,000 |
|
Total Assets |
329,913,000 |
Total Liab. & Equity |
329,913,000 |
|
Total Assets (Previous Year) |
NA |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
327,976,000 |
Net Profit |
6,267,000 |
|
Sales(Previous yr) |
NA |
Net Profit(Prev.yr) |
NA |
MIRA
INFORM REPORT
|
Report Date : |
30.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
CANBARA INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
147, Shivshakti Industrial Estate, Opposite Mittal Industrial Estate, Andheri-Kurla
Road, Marol, Andheri (East), Mumbai-400059, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.05.2009 |
|
|
|
|
Com. Reg. No.: |
11-192247 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.6.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31900MH2009PTC192247 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC16808B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Home Appliances like Mixers
Grinders, Food Processors, Air Cooler
etc. |
|
|
|
|
No. of Employees
: |
More than 350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 81000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of Canbara Industries, a partnership concern
started in the year 1997. It is an 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. R.K. Bhvin |
|
Designation : |
Sales and Purchase Manager |
|
Contact No.: |
91-9322932002 |
|
Date : |
26.07.2011 |
LOCATIONS
|
Registered Office : |
147, Shivshakti Industrial Estate, Opposite Mittal Industrial Estate,
Andheri-Kurla Road, Marol, Andheri (East), Mumbai-400059, Maharashtra, India |
|
Tel. No.: |
91-22-28502235 |
|
Mobile No.: |
91-9322932002 (Mr. R.K. Bhvin) |
|
Fax No.: |
91-22-28505701 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
|
|
|
Factory 1 : |
Survey No. 3331/2, Plot No.1, Khadi Pada, Masat, Silvasa-396230, Dadra
Nagar Haveli, |
|
Area : |
2638 40200 Sq. Ft. (Owned) |
|
|
|
|
Factory 2 : |
Plot 83/107 Industrial Estate, Village Satpati, Palghar, Thane, |
|
Area : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Karunakar Menka Shetty |
|
Designation : |
Managing Director |
|
Address : |
B-103, Anmol, |
|
Date of Birth/Age : |
23.09.1952 |
|
Date of Appointment : |
07.05.2009 |
|
|
|
|
Name : |
Mrs. Vasanthi Karunakar Shetty |
|
Designation : |
Director |
|
Address : |
Anmol, Building No. 2, R No. 103, |
|
Date of Birth/Age : |
05.03.1960 |
|
Date of Appointment : |
07.05.2009 |
|
|
|
|
Name : |
Mr. Ankit Karunakar Shetty |
|
Designation : |
Director |
|
Address : |
Anmol, Building No. 2, R No. 103 A.K. Road, Marol, Andheri (East),
Mumbai-400059, Maharashtra, India |
|
Date of Appointment : |
07.05.2009 |
|
|
|
|
Name : |
Mr. Aditya Karunakar Shetty |
|
Designation : |
Director |
|
Address : |
Anmol, Building No. 2, R No. 103 A.K. Road, Marol, Andheri (East),
Mumbai-400059, Maharashtra, India |
|
Date of Birth/Age : |
08.04.1984 |
|
Date of Appointment : |
07.05.2009 |
|
|
|
|
Name : |
Mr. Akhil Karunakar Shetty |
|
Designation : |
Director |
|
Address : |
Anmol, Building No. 2, R No. 103 A.K. Road, Marol, Andheri (East),
Mumbai-400059, Maharashtra, India |
|
Date of Birth/Age : |
24.11.1985 |
|
Date of Appointment : |
07.07.2009 |
KEY EXECUTIVES
|
Name : |
Mr. R.K. Bhvin |
|
Designation : |
Sales and Purchase Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Karunakar Menka Shetty |
|
300000 |
|
Aditya Karunakar Shetty |
|
60000 |
|
Vasanthi Karunakar Shetty |
|
60000 |
|
Akhil Karunakar Shetty |
|
60000 |
|
Ankit Karunakar Shetty |
|
60000 |
|
Manoj Bhujanga Shetty |
|
30000 |
|
Dilip Prabhakar Shetty |
|
30000 |
|
|
|
|
|
Total |
|
600000 |
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, Exporter and Importer of Home Appliances like Mixers
Grinders, Food Processors, Air Cooler
etc. |
|
|
|
|
Exports : |
|
|
Products : |
Home Appliance |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material, Spare Parts |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Cash / Credit (30 days) |
|
|
|
|
Purchasing : |
L/C Cash / Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
OEM’s |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
More than 350 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
West, Mumbai-400013, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.S. Shetty and Associates Chartered Accountant |
|
Address : |
6/33, Versova View, Four Bungalows, Andheri (West), Mumbai-400053, |
|
Tel. No.: |
91-22-26372044 |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As on 30.09.2010
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 |
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
6.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
14.267 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
20.267 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
83.183 |
|
|
2] Unsecured Loans |
|
|
92.359 |
|
|
TOTAL BORROWING |
|
|
175.542 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.881 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
196.690 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
136.169 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.150 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
97.981 |
|
|
Sundry Debtors |
|
|
65.084 |
|
|
Cash & Bank Balances |
|
|
7.744 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
22.611 |
|
Total
Current Assets |
|
|
193.420 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
123.293 |
|
|
Other Current Liabilities |
|
|
8.085 |
|
|
Provisions |
|
|
1.845 |
|
Total
Current Liabilities |
|
|
133.223 |
|
|
Net Current Assets |
|
|
60.197 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.174 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
196.690 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
327.976 |
|
|
|
Other Income |
|
|
0.574 |
|
|
|
TOTAL (A) |
|
|
328.550 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
300.637 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
300.637 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
27.913 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
5.306 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
22.607 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
13.614 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
8.993 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
2.726 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
6.267 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
6.267 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
5.018 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
31.865 |
|
|
|
Capital Goods |
|
|
7.176 |
|
|
TOTAL IMPORTS |
|
|
39.041 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
10.44 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
650.000 |
Expected Sales (2011-12) : Rs.850.000 Millions
The above information has been parted by Mr. R.K. Bhvin.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
PAT / Total Income |
(%) |
|
|
1.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
2.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
2.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
15.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.45 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS / WORKING
RESULTS:
In the first year, the Company has recorded the sales of Rs.327.976 Millions. The above financial results show that the Company has earned profit to the tune of Rs.6.267 Millions after deducting interest, depreciation and provision for taxations.
Barring unforeseen circumstances, further improvement in
sale and profitability is expected in the current year in view of continued
efforts being made. Further the company is taking effective steps for expansion
and diversification to strengthen the profitability and financial soundness of
the Company.
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.44.15 |
|
|
1 |
Rs.72.10 |
|
Euro |
1 |
Rs.63.10 |
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 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.