1. Summary Information
|
|
|
Country |
|
|
Company Name |
KOTHARI BROTHERS
TECH PRIVATE LIMITED |
Principal Name 1 |
Mr. Laxmimal Kothari |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Goutamchand Kothari |
|
|
|
Registration # |
18-69256 |
|
Street Address |
No. 20, |
||
|
Established Date |
12.09.2008 |
SIC Code |
-- |
|
Telephone# |
91-44-25359187/
25359189 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-25342504 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Telephone Cables |
|
# of employees |
-- |
Product Name 2 |
Networking Telecommunication cables |
|
Paid up capital |
Rs. 4,500,000/- |
Product Name 3 |
Media converters |
|
Shareholders |
Bodies corporate - 37.78% Directors or relatives of directors -
62.22% |
Banking |
Indian Overseas
Bank |
|
Public Limited Corp. |
NO |
Business Period |
3 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associate |
|
Goutam Chand and Sons |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
55,916,000 |
Current Liabilities |
47,567,000 |
|
Inventories |
26,936,000 |
Long-term Liabilities |
26,272,000 |
|
Fixed Assets |
9,554,000 |
Other Liabilities |
191,000 |
|
Deferred Assets |
0 |
Total Liabilities |
74,030,000 |
|
Invest& other Assets |
67,000 |
Retained Earnings |
13,943,000 |
|
|
|
Net Worth |
18,443,000 |
|
Total Assets |
92,473,000 |
Total Liab. & Equity |
92,473,000 |
|
Total Assets (Previous Year) |
74,228,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
244,516,000 |
Net Profit |
4,414,000 |
|
Sales(Previous yr) |
44,955,000 |
Net Profit(Prev.yr) |
1,530,000 |
MIRA
INFORM REPORT
|
Report Date : |
16.05.2011 |
Note :- Correct name of the company is “KOTHARI BROTHERS
TECH PRIVATE LIMITED”
IDENTIFICATION DETAILS
|
Name : |
KOTHARI BROTHERS TECH PRIVATE LIMITED (w.e.f. 12.08.2010) |
|
|
|
|
Formerly Known As : |
KOTHARI ELECTRICALS AND ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
No. 20, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
12.09.2008 |
|
|
|
|
Com. Reg. No.: |
18-69256 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs. 4.500 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31200TN2008PTC069256 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEK09773B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCK4992M |
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|
|
|
Legal Form : |
Private Limited Liability company |
|
|
|
|
Line of Business : |
Manufacturer of Telephone Cables, Networking Telecommunication cables,
Networking telecommunication equipments, Media converters, |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 74000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. General financial position is satisfactory. Payments are 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 : |
No. 20, |
|
Tel. No.: |
91-44-25359187/ 25359189 |
|
Fax No.: |
91-44-25342504 |
|
E-Mail : |
|
|
|
|
|
Branch : |
207, Mint Street, 1st Floor, Chennai-600003, Tamilnadu,
India |
DIRECTORS
|
Name : |
Mr. Laxmimal Kothari |
|
Designation : |
Chairman and Managing Director |
|
Address : |
No. 13, |
|
Date of Birth/Age : |
10.08.1947 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No. : |
022736692 |
|
|
|
|
Name : |
Mr. Goutamchand Kothari |
|
Designation : |
Director |
|
Address : |
No. 13, |
|
Date of Birth/Age : |
09.01.1959 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No. : |
02273684 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Laxmimal Kothari |
|
125000 |
|
Goutam Chand Kothari |
|
125000 |
|
Atherton Glass Works Limited ( |
|
170000 |
|
Sanjay Kumar |
|
10000 |
|
Rajkumari Chordia |
|
10000 |
|
Sanjay Kumar Chordia HUF |
|
10000 |
|
Total |
|
450000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2009
|
Category |
|
Percentage of
Holding |
|
Bodies corporate (not mentioned above) |
|
37.78 |
|
Directors or relatives of directors |
|
62.22 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Telephone Cables, Networking Telecommunication cables,
Networking telecommunication equipments, Media converters, |
|
|
|
|
Products : |
Electrical and Electrical Items |
GENERAL INFORMATION
|
Bankers : |
Indian Overseas Bank, Sowcarpet Branch, 143, |
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Facilities : |
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|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Betalal and Associates Chartered Accountant |
|
Address : |
|
|
|
|
|
Associates: |
·
Goutam Chand and Sons ·
Bharti Kothari ·
Kothari Brothers, Chennai ·
Kothari Brothers, ·
Kothari Brothers, ·
Kothari Cabletronics ·
Kothari Electrical and Electronics ·
Industrial Enterprises |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs. 10/-
each |
Rs. 4.500
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
4.500 |
4.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
13.943 |
9.530 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
18.443 |
14.030 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
10.064 |
6.937 |
|
|
2] Unsecured Loans |
|
16.208 |
15.078 |
|
|
TOTAL BORROWING |
|
26.272 |
22.015 |
|
|
DEFERRED TAX LIABILITIES |
|
0.191 |
0.117 |
|
|
|
|
|
|
|
|
TOTAL |
|
44.906 |
36.162 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
9.554 |
7.270 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
26.936 |
33.975 |
|
|
Sundry Debtors |
|
51.387 |
30.581 |
|
|
Cash & Bank Balances |
|
0.702 |
0.326 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
3.827 |
1.988 |
|
Total
Current Assets |
|
82.852 |
66.870 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
45.167 |
37.263 |
|
|
Other Current Liabilities |
|
0.349 |
0.145 |
|
|
Provisions |
|
2.051 |
0.658 |
|
Total
Current Liabilities |
|
47.567 |
38.066 |
|
|
Net Current Assets |
|
35.285 |
28.804 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.067 |
0.088 |
|
|
|
|
|
|
|
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TOTAL |
|
44.906 |
36.162 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
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|
|
|
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|
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Income |
|
|
|
|
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|
Other Income |
|
|
|
|
|
|
TOTAL |
|
244.516 |
44.955 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
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Administrative Expenses |
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Advertising Expenses |
|
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TOTAL |
|
237.978 |
42.649 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
6.538 |
2.306 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
2.124 |
0.776 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX |
|
4.414 |
1.530 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
9.81 |
3.40 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
1.80 |
3.40 |
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
7.07 |
3.11 |
|
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|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.35 |
0.16 |
|
|
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|
|
|
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Debt Equity Ratio (Total Liability/Networth) |
|
|
4.00 |
4.28 |
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.74 |
1.76 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE :
During the year the performance of the company has remained
satisfactory.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U31200TN2008PTC069256 |
||||||||||||
|
Name of the
company |
KOTHARI ELECTRICALS AND ELECTRONICS PRIVATE LIMITED |
||||||||||||
|
Address of the
registered office or of the principal place of business in |
No. 20, |
||||||||||||
|
This form is for |
Modification of
Charge |
||||||||||||
|
Charge
identification number of the modified |
10151840 |
||||||||||||
|
Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Indian Overseas Bank, Sowcarpet Branch, 143, |
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|
Nature of
instrument creating charge |
Letter of
Hypothecation (For Securing Machineries/ Vehicles Goods/ Book Debts) |
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Date of
instrument Creating the charge |
02.11.2009 |
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|
Amount secured by
the charge |
Rs. 9.500
Millions |
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|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit
against Hypothecation of Stocks and Book Debts of age not exceeding 90 days:
BPLR + 1.25% (Presently 13.25% per annum) Terms of Repayment
Cash Credit
against hypothecation of stocks and book debts of age not exceeding 90 days:
Repayable on demand Margin Cash Credit
against hypothecation of stocks and book debts of age not exceeding 90 days :
25% on stocks and 50% on book debts. Letter of
guarantee (Inland) : -25% Others (Rs. In Millions)
All other terms
and conditions as per the sanction letter and instruments executed on
02.11.2009 |
||||||||||||
|
Short particulars
of the property charged |
Hypothecation of First
Charge on all stocks of Electrical cables such as power and control cables
(Copper and aluminium cables), switch boards etc. belonging to the company. Hypothecation of
First Charge on all book debts, receivables of the company both present and
future. |
||||||||||||
|
Particulars of
the present modification |
(Rs. In Millions)
All other terms
and conditions as per the sanction letter and instruments executed on
02.11.2009 |
Fixed Assets:
·
Property at
·
Property at
·
Furniture and Fixtures
·
Water Cooler
·
Air Cooler
·
Refrigerator
·
Invertor
·
Mobiles
·
Fax
·
Cycle
·
Plant
·
EPABX
·
Air Conditioner
·
Stabilizer
·
Two Wheeler
·
Motor Car
·
Computer and Accessories
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.44.91 |
|
|
1 |
Rs.73.05 |
|
Euro |
1 |
Rs.64.03 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.