MIRA
INFORM REPORT
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Report Date : |
18.06.2011 |
IDENTIFICATION DETAILS
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Name : |
KAVITA CASTING PRIVATE LIMITED |
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Registered
Office : |
Plot No.2, Bvartej GIDC, Bhavnagar – 364004, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2008 |
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Date of
Incorporation : |
22.03.2006 |
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Com. Reg. No.: |
04-047987 |
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Capital Investment
/ Paid-up Capital : |
Rs.4.000 Millions |
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CIN No.: [Company Identification
No.] |
U27100GJ2006PTC047987 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMK03660G |
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PAN No.: [Permanent Account No.] |
AACCK8407E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Bentonite, Granules (Roasted) etc. |
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No. of Employees
: |
25 (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 9000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The
management of the company has not filed its financial to the government department
of the year 2008. Business is active. Payments are unknown. The company can be considered for business dealings with some
caution. |
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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 (GENERAL DETAILS)
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Name : |
Mr. Dilawarden S. Khdia |
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Designation : |
Director |
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Contact No.: |
91-9825208262 |
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Date : |
17.06.2011 |
LOCATIONS
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Registered Office / Factory: |
Plot No.2, Bvartej GIDC, Bhavnagar – 364004, Gujarat, India |
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Tel. No.: |
91-278-2449804 |
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Mobile No.: |
91-9825208262 (Mr. Dilawarden S. Kudia) |
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Fax No.: |
91-278-2445993 |
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E-Mail : |
Jhgudanjeyahoo.co.in |
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Website : |
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Area : |
300 sq. ft. |
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Location : |
Owned |
DIRECTORS
AS ON 29.09.2007
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Name : |
Mr. Khdia Dilavardan S. |
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Designation : |
Director |
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Address : |
52, Falgun Co. Operative Society, Bhavnagar, Para – 364004, Gujarat,
India |
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Date of Appointment : |
22.03.2006 |
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Name : |
Mrs. Krishnaben D. Khadia |
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Designation : |
Director |
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Address : |
52, Falgun Co. Operative Society, Bhavnagar, Para – 364004, Gujarat,
India |
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Date of Appointment : |
22.03.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2007
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Names of Shareholders |
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No. of Shares |
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Kadia Dilavardan S. |
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395000 |
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Krishnaben D. Khadia |
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5000 |
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Total |
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400000 |
AS ON 29.09.2007
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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 Bentonite, Granules (Roasted) etc. |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
·
Retailers ·
End Users |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
State Bank Of
Saurashtra, Darbargadh, Main Branch, Bhavnagar – Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gaudani Associates Chartered Accountant |
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Address : |
101-Vishal Flats, Garden Road, Mahuva – 364290, Gujarat, India |
CAPITAL STRUCTURE
AS ON 31.03.2008
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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450000 |
Equity Shares |
Rs.10/- each |
Rs.4.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.000 |
4.000 |
0.100 |
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2] Share Application Money |
0.080 |
0.103 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(1.882) |
(0.030) |
0.000 |
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NETWORTH |
2.198 |
4.073 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
8.095 |
6.948 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
8.095 |
6.948 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.293 |
11.021 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.052 |
5.756 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.010 |
0.010 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.515
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8.635 |
0.000 |
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Sundry Debtors |
0.040
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.037
|
0.521 |
0.085 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.376
|
0.503 |
0.000 |
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Total
Current Assets |
5.968
|
9.659 |
0.085 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Other Current Liabilities |
0.854
|
4.561 |
0.000 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
0.854
|
4.561 |
0.000 |
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Net Current Assets |
5.114
|
5.098 |
0.085 |
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MISCELLANEOUS EXPENSES |
0.117 |
0.157 |
0.015 |
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TOTAL |
10.293 |
11.021 |
0.100 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.07
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2.82 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
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6.98
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2.11 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
FORM : 8
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Corporate identity number of the company |
U27100GJ2006PTC047987 |
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Name of the company |
KAVITA CASTING PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
Plot ;No. 2 Bvartej GIDC, Bhavnagar
364004, Gujarat, INDIA |
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This form is for |
Creation of charge |
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Type of charge |
Immovable property Book debts Movable property (not being pledge) |
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Particular of charge holder |
State Bank Of Saurashtra, Darbargadh, Main
Branch, Bhavnagar – Gujarat, India |
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Nature of instrument creating charge |
1. Memorandum of deposit of title deeds
dated. 08/12/2006 2. Instrument of general agreement for the
grant of Small Industrial Advance and hypothecation of of movable book debts
and other assets dated. 08/12/2006. 3. General agreement for the grant of
Medium Term loan to Small Scale Industries and hypothecation of movable book debts and other assets dated.
08/12/2006. |
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Date of instrument Creating the charge |
08/12/2006 |
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Amount secured by the charge |
Rs. 10.000 millions |
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Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest 1. For term loan at PLR plus 1.5 % i.e. 13
% with monthly rest. 2. For working capital at PLR plus 1.25 %
i.e. 12.75 % with monthly rest. Terms
of repayment 1. For term loan 59 monthly installment
each of Rs. 0.067 millions and last i.e. 60th monthly installment of Rs.
0.047 millions. totaling to Rs. 4.000 millions. 2. For working capital Rs. 6.000 millions within
a period of 12 months. Margin For term loan Building 48 % Plant and Machinery 25 % For working capital stock of raw material i.e. M.S. , stock in
process and finished goods i.e. M.S. Mould. Extent
and operation of the charge 1. For term loan Rs. 4.000 millions 2. For working capital Rs. 6.000 millions Other
Nil |
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Short particulars of the property charged
(Including location of the property) |
Land admeasuring 4819 sq. mtr. situated at.
Plot No. 2-B, Vartej, GIDC Bhavnagar. along with building constructed there
on and stock of raw material i.e. M. S. , Stock in process, finished goods
i.e. M. S. Mould and plant and machinery. |
FIXED ASSETS :
·
Plant and Machinery
·
Electrical Installation
·
Building Construction
·
Shed Construction
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. 44.93 |
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|
1 |
Rs. 72.42 |
|
Euro |
1 |
Rs. 63.62 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.