MIRA
INFORM REPORT
|
Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
M K U ARMORS PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
A. R. PLIMSOLLS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
105, Chandralok Complex, 26//72-D, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation : |
13.11.1996 |
|
|
|
|
Com. Reg. No.: |
20-21001 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24131UP1996PTC021001 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
KNPM01628E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCM8195Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers, Producers, Processors, Jobbers, Importers, Exporters,
Distributors, Agents, Dealers, Buyers, Sellers. Stockiest in Synthetics Rubbers.
Raw Rubbers Rubberised Fabrics. Canvas/ Rubber Footwears. Plimsolls. Rubber
Plastics Moldings and other rubber and canvas products. |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Undetermined |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
There are no commercial activities being done in the company after
2007. When confirmed by the finance manager Mr. Virendra Singh, it was
reported that all business activities have been transferred to MKU Private
Limited and that MKU Armours private limited is active only for taxation
purpose. Keeping in view the aforesaid it would be advisable to enter into
business dealings on a safe and secured 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 |
LOCATIONS
|
Registered Office : |
105, Chandralok Complex, 26/72-D, |
|
E-Mail : |
|
|
|
|
|
Administrative/Technical/ Billing Office : |
207, Chandralok complex, 26/72 D, Birhana Road, Kanpur, Uttar Pradesh – 208001, India |
|
Tel. No.: |
91-51-22363491 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Neeraj Gupta |
|
Designation : |
Director |
|
Address : |
13, Gandhi Gram, |
|
Date of Birth/Age : |
08.11.1970 |
|
Date of Appointment : |
12.02.2004 |
|
|
|
|
Name : |
Mr. Manish Khandelwal |
|
Designation : |
Director |
|
Address : |
78, Gandhi Gram, |
|
Date of Birth/Age : |
12.06.1975 |
|
Date of Appointment : |
23.04.2005 |
|
|
|
|
Name : |
Ms. Supriya Gupta |
|
Designation : |
Director |
|
Address : |
13, Gandhi Gram, |
|
Date of Birth/Age : |
28.01.1974 |
|
Date of Appointment : |
13.11.1996 |
|
|
|
|
Name : |
Ms Neelam Gupta |
|
Designation : |
Director |
|
Address : |
127/581, W -1, Saket Nagar, |
|
Date of Appointment : |
22.01.2006 |
MAJOR SHAREHOLDERS
(As on 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
Sumit Khandelwal |
|
37600 |
|
Supriya Gupta |
|
5100 |
|
R. K. Khandelwal |
|
82000 |
|
Anurag Gupta |
|
89000 |
|
Manish Khandelwal |
|
110000 |
|
Manoj Gupta |
|
25000 |
|
Gopal |
|
368000 |
|
Neeraj Gupta |
|
165000 |
|
Kiran Gupta |
|
20000 |
|
Shanti Khnadelwal |
|
19000 |
|
Vandana Gupta |
|
205000 |
|
Mauua Lal Gupta-HUF |
|
20000 |
|
Vishwanath Kahndelwal-HUF |
|
62000 |
|
Total |
|
1207700 |
(As on 30.09.2010)
|
Equity Share Break up |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
88.52 |
|
Others |
|
11.48 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Producers, Processors, Jobbers, Importers, Exporters,
Distributors, Agents, Dealers, Buyers, Sellers. Stockiest in Synthetics
Rubbers. Raw Rubbers, Rubberised Fabrics. Canvas/ Rubber Footwears. Plimsolls.
Rubber Plastics Moldings and other rubber and canvas products. |
|
|
|
GENERAL INFORMATION
|
Bankers : |
·
Bank
of ·
Bank
of |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Birla and Chand Chartered Accountant |
|
Address : |
13/392, Neelkanth, Civil Lines, |
|
Tel No. : |
512-2531307 |
CAPITAL STRUCTURE
(As on 30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs. 10 each/- |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1207700 |
Equity Shares |
Rs. 10 each/- |
Rs.12.077 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.077 |
12.077 |
12.077 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
68.906 |
69.023 |
69.044 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
80.983 |
81.100 |
81.121 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
57.416 |
|
|
2] Unsecured Loans |
0.853 |
0.853 |
55.120 |
|
|
TOTAL BORROWING |
0.853 |
0.853 |
112.536 |
|
|
DEFERRED TAX LIABILITIES |
0.410 |
0.410 |
0.410 |
|
|
|
|
|
|
|
|
TOTAL |
82.246 |
82.363 |
194.067 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.789 |
2.775 |
13.955 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
82.051 |
82.051 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
97.846 |
|
|
Sundry Debtors |
0.000
|
0.000 |
114.815 |
|
|
Cash & Bank Balances |
0.000
|
0.000 |
1.352 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.382
|
0.068 |
20.432 |
|
Total
Current Assets |
1.382
|
0.068 |
234.445 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3.937
|
2.588 |
49.979 |
|
|
Provisions |
0.039
|
0.020 |
4.431 |
|
Total
Current Liabilities |
3.976
|
2.608 |
54.410 |
|
|
Net Current Assets |
(2.594)
|
(2.540) |
180.035 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.077 |
0.077 |
|
|
|
|
|
|
|
|
TOTAL |
82.246 |
82.363 |
194.067 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
306.208 |
|
|
|
Other Income |
0.000 |
0.000 |
0.662 |
|
|
|
TOTAL (A) |
0.000 |
0.000 |
306.870 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Audit Fee |
0.019 |
0.017 |
0.000 |
|
|
|
Legal and Professional Fee |
0.021 |
0.003 |
0.000 |
|
|
|
Insurance |
0.000 |
0.001 |
0.000 |
|
|
|
General Expenses |
0.077 |
0.000 |
0.000 |
|
|
|
Manufacturing Expenses |
0.000 |
0.000 |
213.062 |
|
|
|
Other Expenditure |
0.000 |
0.000 |
51.635 |
|
|
|
TOTAL (B) |
0.117 |
0.021 |
264.697 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(0.117) |
(0.021) |
42.173 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
3.217 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(0.117) |
(0.021) |
38.956 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
1.953 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(0.117) |
(0.021) |
37.003 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
0.000 |
2.228 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(0.117) |
(0.021) |
34.775 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
--
|
-- |
11.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
-- |
12.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.80)
|
(0.70) |
14.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.06
|
0.04 |
2.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
(0.53)
|
(0.03) |
4.31 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges Report
as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
1058744 |
|
Corporate
identity number of the company |
U24131UP1996PTC021001 |
|
Name of the
company |
M K U ARMORS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
105, Chandralok Complex, 26//72-D, |
|
Type of charge |
Immovable
Property Others |
|
Particular of charge
holder |
Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
Corporate
Guarantee and Supplemental Memorandum. |
|
Date of
instrument Creating the charge |
03.07.2010 |
|
Amount secured by
the charge |
Rs. 746.200
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For credit
facility granted to M/s MKU Private Limited :- CC, Bill
Discounting @ 5.50% above Base Rate of the Bank p.a. PC and Foreign
Bill Purchase facility @ 1.75% above Base Rate of the Bank p.a. Terms of Repayment For credit facility
granted to M/s MKU Private Limited:- As per Sanction
Letter of Bank. Margin For credit
facility granted to M/s MKU Private Limited:- 25% against paid
stocks for Cash Credit, Pacing Credit and Foreign Bill Purchase facility and
10% cash margin in case of other Credit facility and NIL in case of Foreign
Bill Purchase facility. Extent and Operation of the charge The Companies
properties are Hypothecated and mortgaged to secure credit facility to
Rs.7462 Lac granted by the Bank to the Company.:- PC cum FBP cum
FBD 1000 Lac (Sub limit PCFC/PSFC 800 Lac)
Gold Card 20.000 Millions PC(Adhoc) 50.000 Millions CC 100.000
Millions Government Bills
Discountings 100.000 Millions FLC 170.000
Millions BG
(Performance) 56.200 Millions FLC 150.000
Millions Total Rs.7462 Millions Others : The Company M/S
MKU Armors Private Limited has executed Corporate Guarantee to secure
repayment of credit facility aggregating to Rs. 746.200 Millions granted by
the Bank to M/s M K U Private Limited. |
|
Short particulars
of the property charged |
All that piece and
parcel of land and buildings situated at C-14, at UPSIDC Industrial Area,
Rooma, East- 18 metre
wide road No.3 West- Open land North- Plot No.
C-13 |
|
Date of latest
modification prior to the present modification |
12.05.2009 |
|
Particulars of
the present modification |
Corporate
Guarantee provided for credit facilities availed by M/s. MKU Private Limited.
Limit enhanced from Rs.396.200 Millions to Rs. 746.200 Millions. Packing
Credit cum FBP cum FBD Rs.100.000 Millions, (Sub limit PCFC/PSFC Rs.80.000
Millions), Gold Card Rs.20.000 Millions, PC(Adhoc) Rs. 50.000
Millions, Cash Credit Rs.100.000 Millions, Government Bills Discountings
Rs.100.000 Millions, FLC Rs.170.000 Millions, BG (Performance) Rs.56.200
Millions FLC Rs.150.000 Millions. Total Limit enhanced from Rs.3962.00
Millions to Rs. 746.200 Millions. |
FIXED ASSETS
·
Land
·
Building
·
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 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.45.03 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs. 62.94 |
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.