MIRA
INFORM REPORT
|
Report Date : |
07.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
KAY HI-TECH ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
BXXIX-2345/2-C/7, UCO Bank Street, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
25.09.2007 |
|
|
|
|
Com. Reg. No.: |
16-31387 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.964 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51103PB2007PTC031387 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDK02134G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK2449M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Nut, Bolt and Fasteners, etc. |
|
|
|
|
No. of Employees
: |
80 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 64000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as
fair. Business is active. Payments are reported to be slow. 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
|
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. Kuldeep Singh |
|
Designation : |
Director |
|
Contact No.: |
91-9814002157 |
|
Date : |
17.09.2011 |
LOCATIONS
|
Registered Office/Factory : |
BXXIX-2345/2-C/7, UCO Bank Street, |
|
Tel. No.: |
91-161-2512476 / 3295003 |
|
Mobile No.: |
91-9814002157 (Mr. Kuldeep Singh) |
|
Fax No.: |
91-161-2512657 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
72000 sq. fts. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Kuldeep Singh |
|
Designation : |
Director |
|
Address : |
H. No. 298-L , |
|
Date of Birth/Age : |
07.03.1966 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.09.2007 |
|
DIN No.: |
01489000 |
|
|
|
|
Name : |
Jagjit Kaur |
|
Designation : |
Director |
|
Address : |
H. No. 298-L , |
|
Date of Birth/Age : |
29.11.1973 |
|
Date of Appointment : |
25.09.2007 |
|
DIN No.: |
01735273 |
|
|
|
|
Name : |
Saran Kaur |
|
Designation : |
Director |
|
Address : |
H. No. 298-L , |
|
Date of Birth/Age : |
25.08.1930 |
|
Date of Appointment : |
25.09.2007 |
|
DIN No.: |
01489026 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kuldeep Singh |
|
55200 |
|
Jagjeet Kaur |
|
8000 |
|
Saran Kaur |
|
3000 |
|
Punya Stock Brokers (Private) Limited, |
|
20000 |
|
Vibhuti Shares and Stocks (Private) Limited, |
|
21500 |
|
Big Bull Commodities (Private) Limited, |
|
8000 |
|
Best Buy Commodities (Private) Limited, |
|
5000 |
|
Best Trader Commodities (Private) Limited, |
|
2000 |
|
City Commodities and Trading Services (Private) Limited, |
|
3000 |
|
Vision Commodities and Derivatives (Private) Limited, |
|
12000 |
|
Shivani Gupta |
|
3000 |
|
Sandeep Gupta |
|
5500 |
|
Sushul Kumar Gupta |
|
5400 |
|
Kamlesh Devi |
|
2800 |
|
Ashok Makkar |
|
5000 |
|
Seema Makkar |
|
5000 |
|
Ashok Makkra |
|
3000 |
|
Tanvi |
|
4000 |
|
Suman |
|
5000 |
|
Chok Raj |
|
5000 |
|
Paramvir Singh |
|
3000 |
|
Mauank Financial Services (Private) Limited, |
|
5000 |
|
Pankaj Goyal |
|
3500 |
|
Nisha Goyal |
|
3500 |
|
Total |
|
196400 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
49.00 |
|
Other
top fifty shareholders |
|
51.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Nut, Bolt and Fasteners, etc. |
|
|
|
|
Products : |
·
Nuts ·
Bolts ·
Washers ·
Special Fasteners |
|
|
|
|
Exports : |
|
|
Products : |
Nuts and Bolts |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 days / 60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days / 60 days) |
GENERAL INFORMATION
|
Suppliers : |
·
Aggarwal Iron Industries ·
Allied Recycling Limited ·
Anuj Chemicals ·
Associated Road Carriers Limited ·
Bansal Steel Udyog ·
D. K. Alloys (Private) Limited ·
Fair Telecom Company ·
First Flight Couriers Limited ·
H R Chemicals ·
Joshi Electric Trading Company ·
M D Enterprises |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers End Users OEM’s Manufacturer ·
APS Associates (Private) Limited ·
Abhijeet Iron and Steel Company ·
Bharat Sanchar Nigam Limited ·
Bhushan Steel Limited ·
BRG Energy Limited ·
BRK Industries ·
GEI Industrial Systems Limited ·
Godrej and Boyce Manufacturing Limited ·
G. R. Power Switchgear Limited ·
Harjit Steel Traders |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
80 Approximately |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Union Bank of ·
HDFC Bank ·
ICICI Bank ·
Indusind Bank Limited |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajesh K Garg and Associates Chartered Accountants |
|
Address : |
Ist Floor, Panesar Market, |
CAPITAL STRUCTURE
As on 30.09.2010
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 |
|
196400 |
Equity Shares |
Rs.10/- each |
Rs.1.964
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 |
1.964 |
1.200 |
0.100 |
|
|
2] Share Application Money |
1.400 |
3.440 |
6.500 |
|
|
3] Reserves & Surplus |
12.516 |
5.507 |
0.034 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.880 |
10.147 |
6.634 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.527 |
0.812 |
0.000 |
|
|
2] Unsecured Loans |
10.982 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
42.509 |
0.812 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
58.389 |
10.959 |
6.634 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.492 |
5.230 |
0.000 |
|
|
Capital work-in-progress |
1.027 |
0.851 |
1.043 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
28.780
|
11.941 |
0.000 |
|
|
Sundry Debtors |
34.859
|
3.287 |
0.000 |
|
|
Cash & Bank Balances |
0.593
|
0.035 |
0.059 |
|
|
Other Current Assets |
0.000
|
0.000 |
1.415 |
|
|
Loans & Advances |
7.056
|
5.832 |
5.558 |
|
Total
Current Assets |
71.288
|
21.095 |
7.032 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
25.470
|
16.261 |
0.139 |
|
|
Other Current Liabilities |
1.953
|
0.034 |
1.412 |
|
|
Provisions |
0.095
|
0.035 |
0.015 |
|
Total
Current Liabilities |
27.518
|
16.330 |
1.566 |
|
|
Net Current Assets |
43.770
|
4.765 |
5.466 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.100 |
0.113 |
0.125 |
|
|
|
|
|
|
|
|
TOTAL |
58.389 |
10.959 |
6.634 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
88.270 |
3.709 |
0.000 |
|
|
|
Other Income |
|
0.203 |
0.074 |
|
|
|
TOTAL (A) |
88.270 |
3.912 |
0.074 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
3.333 |
0.000 |
|
|
|
Personal Overheads |
|
0.007 |
0.000 |
|
|
|
Administrative Overheads |
|
0.079 |
0.024 |
|
|
|
TOTAL (B) |
86.186 |
3.419 |
0.024 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.084 |
0.493 |
0.050 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.000 |
0.007 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.084 |
0.486 |
0.050 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.851 |
0.378 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.233 |
0.108 |
0.050 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.095 |
0.001 |
0.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.138 |
0.107 |
0.035 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
0.70 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.16
|
2.74 |
47.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.91 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.27
|
0.41 |
0.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.41
|
1.69 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.59
|
1.29 |
4.49 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
YES |
|
3. |
Constitutions of the firm |
YES |
|
4. |
Premises details |
YES |
|
5. |
Type of Business |
YES |
|
6. |
Line of Business |
YES |
|
7. |
Promoter’s background |
-- |
|
8. |
No. of employees |
YES |
|
9. |
Name of person contacted |
YES |
|
10. |
Designation of contact person |
YES |
|
11. |
Turnover of firm for last three years |
YES |
|
12. |
Profitability for last three years |
NO |
|
13. |
Reasons for variations <> 20% |
YES |
|
14. |
Estimation for coming financial year |
YES |
|
15. |
Capital in the business |
-- |
|
16. |
Details of sister concerns |
-- |
|
17. |
Major Suppliers |
YES |
|
18. |
Major Customers |
YES |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
YES |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
23. |
Banking Details |
YES |
|
24. |
Banking facility details |
YES |
|
25. |
Conduct of the banking account |
-- |
|
26. |
Buyer visit details |
-- |
|
27. |
Financials, if provided |
NO |
|
28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
FORM 8
|
Corporate identity number of the company |
U51103PB2007PTC031387 |
|
Name of the company |
KAY HI-TECH ENGINEERS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
|
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book debts ·
Others o
Hypothecation Stock and book debts |
|
Particular of charge holder |
Union Bank of |
|
Nature of instrument creating charge |
Hypothecation Agreement of goods and debts (sd-06) dated. 31.12.2009
to secure the cash credit limit of Rs.20.000 millions Bank guarantee limit of Rs.5.000 millions vide letter Reference No.
ADV:OPS:CC:183:2009 |
|
Date of instrument Creating the charge |
31.12.2009 |
|
Amount secured by the charge |
Rs.25.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 0.25% over Union Bank of India BPLR
with monthly rests or at such rates as revised by the bank from time
to time with a minimum of 12% p. a. Terms of Repayment On Demand Margin 25% Extent and Operation of the charge 100% |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of stock of all kinds of raw material, semi finished and
finished goods of nuts, bolts, studs, washers and screws etc. and sundry
debtors. |
FIXED ASSETS
·
·
Electric Fitting
·
Fans
·
Furniture and Fixtures
·
Car
·
Cooling Tower
·
Cycle
·
Electric Transformers
·
Fire Extinguisher
·
Generator
·
·
Machinery
·
Office Equipments
·
Scooter
·
Tools and Dies
·
Water Tank
·
Water Treatment Plant
·
Weighing Scale
·
Xerox Machine
·
Computer and Printer
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.49.19 |
|
|
1 |
Rs.75.92 |
|
Euro |
1 |
Rs.65.44 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.