1. Summary Information
|
|
|
Country |
India |
|
Company Name |
KARUNA MANAGEMENT SERVICES PRIVATE LIMITED |
Principal Name 1 |
Mr. Sanjoy Tekriwal |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Sandeep Tekriwal |
|
|
|
Registration # |
21-072875 |
|
Street Address |
Meridian Plaza, 207, C.R. Avenue, 4th Floor, Kolkata –
700006, West Bengal |
||
|
Established Date |
14.07.1995 |
SIC Code |
|
|
Telephone# |
91-33-22693289 |
Business Style 1 |
Distributors |
|
Fax # |
91-33-22693288 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Samsung Mobile |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 8,338,650 |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 62.54% |
Banking |
State Bank of India |
|
Public Limited Corp. |
No |
Business Period |
17 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (45) |
|
|
|||
|
Relation
|
-- |
Company
Name |
CEO |
|
Note |
|
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
133,433,000 |
Current Liabilities |
103,109,000 |
|
Inventories |
170,778,000 |
Long-term Liabilities |
139,376,000 |
|
Fixed Assets |
7,019,000 |
Other Liabilities |
000 |
|
Deferred Assets |
000 |
Total Liabilities |
242,485,000 |
|
Invest& other Assets |
8,882,000 |
Retained Earnings |
69,289,000 |
|
|
|
Net Worth |
77,627,000 |
|
Total Assets |
320,112,000 |
Total Liab. & Equity |
320,112,000 |
|
Total Assets (Previous Year) |
190,734,000 |
|
|
|
P/L Statement as of |
31.03.2010 (Approximately) |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
6,331,000 |
|
Sales(Previous yr) |
1,686,000,000 |
Net Profit(Prev.yr) |
4,425,000 |
MIRA
INFORM REPORT
|
Report Date : |
11.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
KARUNA MANAGEMENT SERVICES
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Meridian Plaza, 207, C.R. Avenue, 4th Floor,
Kolkata-700006, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
14.07.1995 |
|
|
|
|
Com. Reg. No.: |
21-072875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.338
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120WB1995PTC072875 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CALK02922D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK1666L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributors of Samsung Mobile. |
|
|
|
|
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 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
|
|
Tel. No.: |
91-33-22693289/90 |
|
Fax No.: |
91-33-22693288 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located At:
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sanjoy Tekriwal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
BG-14, Sector II, |
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|
Date of Birth/Age : |
16.10.1960 |
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|
Date of Appointment : |
12.08.1996 |
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|
Din No.: |
00495631 |
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|
Other Directorship:
|
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sandeep Tekriwal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
BG-14, Sector II, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.05.1969 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.08.1996 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
00495666 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Madhu Tekriwal |
|
19800 |
|
Sanjoy Tekriwal |
|
80950 |
|
Siddharth Tekriwal |
|
8100 |
|
Gouri Shankar Bishwanath (HUF) |
|
13900 |
|
Sashikant Chiripal |
|
2700 |
|
Gouri S. Tekriwal |
|
148240 |
|
G S Tekriwal (HUF) |
|
2500 |
|
Karuna Finacial Services Private Limited, India |
|
168700 |
|
Meghna Tekriwal |
|
26500 |
|
Sandeep Tekriwal |
|
5100 |
|
Sanjoy Tekriwal (HUF) |
|
10550 |
|
Karuna Retails Private Limited, India |
|
118725 |
|
Comfort Business Private Limited, India |
|
101000 |
|
SHS Marchant Private Limited, India |
|
73100 |
|
Samrat Vyaapar Private Limited, India |
|
54000 |
|
|
|
|
|
Total |
|
833865 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
62.54 |
|
Directors
or relatives of directors |
|
37.14 |
|
Other
|
|
0.32 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributors of Samsung Mobile. |
GENERAL INFORMATION
|
Bankers : |
|
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|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shruti Dokania and Associates Chartered Accountants |
|
Address : |
12, Mangoe Lane, 1st Floor, Kolkata-700001, West Bengal,
India |
|
Pan No.: |
ADLPD5543K |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
833865 |
Equity Shares |
Rs.10/- each |
Rs.8.338
Millions |
As on 30.09.2011
Authorised Capital : Rs.12.500 Millions
Issued, Subscribed & Paid-up Capital : Rs.9.039
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 |
8.338 |
6.639 |
6.639 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
69.289 |
47.668 |
43.242 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
77.627 |
54.307 |
49.881 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
138.419 |
112.289 |
77.268 |
|
|
2] Unsecured Loans |
0.957 |
3.426 |
0.000 |
|
|
TOTAL BORROWING |
139.376 |
115.716 |
77.268 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
217.003 |
170.023 |
127.149 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.019 |
6.424 |
7.449 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.882 |
5.158 |
4.372 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
170.778
|
65.584
|
33.631 |
|
|
Sundry Debtors |
112.196
|
93.347
|
84.822 |
|
|
Cash & Bank Balances |
8.215
|
10.736
|
10.263 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
13.022
|
9.485
|
9.095 |
|
Total
Current Assets |
304.211
|
179.152
|
137.811 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
13.232
|
14.388 |
|
|
Other Current Liabilities |
94.671
|
2.026
|
0.900 |
|
|
Provisions |
8.438
|
5.453
|
7.195 |
|
Total
Current Liabilities |
103.109
|
20.711
|
22.483 |
|
|
Net Current Assets |
201.102
|
158.441
|
115.328 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
217.003 |
170.023 |
127.149 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 (Approximately) |
31.03.2009 (Approximately) |
31.03.2008 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
NA |
1686.000 |
1247.064 |
|
|
|
|
Other Income |
NA |
0.000 |
2.413 |
|
|
|
|
TOTAL (A) |
NA |
1686.000 |
1249.477 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Purchase |
|
|
1204.562 |
|
|
|
|
Payment to & provision
or employees |
NA |
1678.721 |
10.540 |
|
|
|
|
Administrative, Selling & Other
Expenses |
|
|
25.091 |
|
|
|
|
Increase/(Decrease) in stock |
|
|
(7.163) |
|
|
|
|
TOTAL (B) |
NA |
1678.721 |
1233.030 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
16.447 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
8.305 |
||
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
8.142 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
1.438 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE TAX
(E-F) (G) |
9.344 |
7.279 |
6.704 |
||
|
|
|
|
|
|
||
|
Less |
TAX (I) |
3.013 |
2.854 |
2.533 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
(G-I) (J) |
6.331 |
4.425 |
4.170 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
6.141 |
4.971 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
NA |
3.000 |
3.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
7.566 |
6.141 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
7.59 |
6.66 |
6.28 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
0.26
|
0.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.43
|
0.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
3.92
|
4.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.13
|
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.12
|
2.51
|
1.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.95
|
8.65
|
6.12 |
LOCAL AGENCY FURTHER INFORMATION
Note – The Registered office
address of the company has been shifted from Todi Chambers Room 4062,
Form 8
|
Corporate
identity number of the company |
U67120WB1995PTC072875 |
|
Name of the
company |
KARUNA MANAGEMENT SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property Floating charge |
|
Particular of
charge holder |
State Bank of Industrial Finance Branch, 11, Email - sbi.01936@sbi.co.in |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Hypothecation of Goods and Assets for Increase in the Overall
Limit (C.2-A). Letter Regarding the
Grant of Individual Limits within the Overall Limit (C.5). |
|
Date of
instrument Creating the charge |
26.06.2010 |
|
Amount secured by
the charge |
Rs. 287.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit :
1.00% above SBAR, present effective rate 12.75% p.a. Stand by Line of
Credit : 2.00% above SBAR, present effective rate 13.75% p.a. Bank Guarantee :
Commission - 90% of normal charges. Terms of
Repayment The borrowings
are repayable on demand. There is no Term
Loan in the Credit Facility and as such no terms of repayment are stated. The
loan is for Working Capital only which is repayable on demand according to
Banking norms Margin Finished Goods
(Stocks in Trade) : 25% Book Debts /
Receivables (Cover 90 days) : 30% and Bank Guarantee :
10% Extent and
Operation of the charge First Charge on
the whole of the hypothecated assets as a continuing security. Others Nil |
|
Particulars of
the property charged |
All goods book
debts and all other movable assets of the Borrower including documents of
title to the goods, outstanding moneys, receivables, claims, bills, invoices,
contracts, investments, Plant and
machinery both present and future and all other current assets by way of
first charge. |
|
Date of
instrument modifying the charge |
15.10.2009 |
|
Particulars of
the present modification |
By this
modification, the Overall Limit is enhanced from Rs.167.500 millions to
Rs.287.500 millions. Particulars of Current Assets and all other terms and
conditions continue to remain as before in full force and effect. |
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.49.78 |
|
|
1 |
Rs.80.10 |
|
Euro |
1 |
Rs.68.82 |
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 |
NO |
|
--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.