MIRA
INFORM REPORT
|
Report Date : |
20.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
K.M. ELECTRONIC CABLES PRIVATE LIMITED [w.e.f 14.05.2008] |
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|
Formerly Known
As : |
K.M. DTH AND BROADBAND SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
704/A, Second Floor, Ramnivas Building, Opposite Calico Dom, Relief
Road, Ahmedabad-380001, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.12.2005 |
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Com. Reg. No.: |
04-047365 |
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Capital
Investment / Paid-up Capital : |
Rs.0.300
Million |
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|
|
CIN No.: [Company Identification
No.] |
U32100GJ2005PTC047365 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of all type of CCTV Camera. |
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No. of Employees
: |
30 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 15000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
has improved its performance in the year 2009-10. The company has successful in
wiping off the accumulated losses of previous years. Trade relations are
reported fair. Business is active. Payments are reported be slow but correct.
The company can be considered for small to mediocre 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.
INFORMATION PARTED BY
|
Name : |
Mr. Pandya |
|
Designation : |
Admin Manager |
|
Contact No.: |
91-79-22132596 91-9898023630 |
|
Date : |
19.10.2011 |
LOCATIONS
|
Registered Office : |
704/A, Second Floor, Ramnivas Building, Opposite Calico Dom, Relief
Road, Ahmedabad-380001, Gujarat, India |
|
Tel. No.: |
91-79-22132596 / 22132061 / 22175418 |
|
Mobile No.: |
91-9898023630 (Mr. Pandya) |
|
Fax No.: |
91-79-22132061 / 22132596 |
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E-Mail : |
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Location : |
Owned |
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|
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|
Corporate Office : |
K.M. House, 4 Near C.U. Shah College, Ashram Road, Ahmedabad-380014,
Gujarat, India |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Daksham Khushiram Ratanchandani |
|
Designation : |
Director |
|
Address : |
26, Tulip Bungalows-1, Near Surdhara Circle, Drive in Road, Thaltej
Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age : |
25.07.1989 |
|
Date of Appointment : |
01.12.2007 |
|
Din No.: |
01938561 |
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|
|
|
Name : |
Mr. Khushiram Mahavirmal Ratanchandani |
|
Designation : |
Managing Director |
|
Address : |
26, Tulip Bungalows-1, Near Surdhara Circle, Drive in Road, Thaltej
Ahmedabad-380054, Gujarat, India |
|
Date of Appointment : |
26.12.2005 |
|
Din No.: |
01938615 |
KEY EXECUTIVES
|
Name : |
Mr. Pandya |
|
Designation : |
Admin Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Khushiram Mahavirmal Ratanchandani |
|
9900 |
|
Daksham Khushiram Ratanchandani |
|
100 |
|
Marrot Stock Holding Private Limited, India |
|
5000 |
|
Saharshi Securities Private Limited, India |
|
5000 |
|
Prabhavi Investment Private Limited, India |
|
10000 |
|
|
|
|
|
Total |
|
30000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
66.67 |
|
Other
top fifty shareholders |
|
33.33 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of all type of CCTV Camera. |
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Imports : |
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Products : |
Raw Material and Finished Goods |
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Countries : |
China |
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Terms : |
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Purchasing : |
Depend |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users and OEM’s ·
Balaji Vision World ·
Blaze Net World ·
Cable Vision Systems Private Limited ·
Daya Creation ·
Deepak Electronics ·
Gandhi Electronics ·
J.B. Enterprises ·
K.M. Electronics ·
N.A. Corporation ·
N.A. Exports ·
New Sindhu Electronics ·
Pooja Electronics ·
Roxy Electronics |
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No. of Employees : |
30 [Approximately] |
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Bankers : |
Centurion Bank of Punjab Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Chhabria and Associates Chartered Accountants |
|
Address : |
218 Ashirwad Market, Station Road, Kalupur, Ahmedabad-380001, Gujarat,
India |
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Tel. No.: |
91-79-22148602 / 32508602 |
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E-Mail : |
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Pan No.: |
AALPC4641E |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Shares |
Rs.10/- each |
Rs.0.300
Million |
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 |
0.300 |
0.300 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.698 |
0.800 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(0.120) |
(0.232) |
|
|
NETWORTH |
3.998 |
0.980 |
(0.132) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.007 |
0.022 |
|
|
2] Unsecured Loans |
1.946 |
2.115 |
0.743 |
|
|
TOTAL BORROWING |
1.946 |
2.122 |
0.765 |
|
|
DEFERRED TAX LIABILITIES |
0.001 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.945 |
3.102 |
0.633 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
0.065 |
0.042 |
0.061 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.027 |
0.027 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.478
|
2.344 |
0.525 |
|
|
Sundry Debtors |
2.890
|
1.067 |
0.000 |
|
|
Cash & Bank Balances |
(0.028)
|
0.969 |
0.111 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.001
|
0.007 |
0.001 |
|
Total
Current Assets |
7.341
|
4.387 |
0.637 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.973
|
1.184 |
0.094 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.494
|
0.183 |
0.018 |
|
Total
Current Liabilities |
1.467
|
1.367 |
0.112 |
|
|
Net Current Assets |
5.874
|
3.020 |
0.525 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.006 |
0.013 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
5.945 |
3.102 |
0.633 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
17.291 |
7.252 |
1.291 |
|
|
|
Installation Charges Income |
0.045 |
0.012 |
0.026 |
|
|
|
Miscellaneous Income and Discount |
0.007 |
0.005 |
0.012 |
|
|
|
TOTAL (A) |
17.343 |
7.269 |
1.329 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase Accounts |
16.434 |
7.613 |
1.116 |
|
|
|
Custom Duty and Other Expenses |
0.994 |
0.653 |
0.333 |
|
|
|
Freight and Octroi Expenses |
0.144 |
0.106 |
0.127 |
|
|
|
Agency Charges |
0.095 |
0.000 |
0.000 |
|
|
|
Import Expenses |
0.010 |
0.000 |
0.000 |
|
|
|
Administrative Expenses |
0.568 |
0.286 |
0.038 |
|
|
|
Selling and Distribution Expenses |
0.038 |
0.000 |
0.030 |
|
|
|
Audit Fees |
0.012 |
0.008 |
0.004 |
|
|
|
Directors Remunerations |
0.096 |
0.096 |
0.000 |
|
|
|
Preliminary Expenses Written Off |
0.006 |
0.006 |
0.007 |
|
|
|
Increase / Decrease in Stock |
(2.135) |
(1.818) |
(0.169) |
|
|
|
TOTAL (B) |
16.262 |
6.950 |
1.486 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.081 |
0.319 |
(0.157) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.300 |
0.187 |
0.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.781 |
0.132 |
(0.168) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.013 |
0.018 |
0.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX (E-F) (G) |
0.768 |
0.114 |
(0.188) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.250 |
0.002 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX (G-H) (I) |
0.518 |
0.112 |
(0.188) |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.120) |
(0.232) |
(0.044) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Short Provision Tax |
0.001 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
0.397 |
(0.120) |
(0.232) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.28 |
3.74 |
-- |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover [Approximately] |
|
|
25.000 |
Expected Sales (2011-12) : Rs.40.000 Millions
The above information has been parted by Mr. Pandya.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.99
|
1.54 |
(14.14) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.44
|
1.57 |
(14.56) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.31
|
2.57 |
(26.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.12 |
1.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.86
|
3.56 |
(6.64) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.89
|
3.21 |
5.69 |
LOCAL AGENCY FURTHER INFORMATION
NOTE: The registered office of the company has been shifted from 25, Kohinoor Complex, Below Khyber Palace Hotel, Sanad Chokdi Char Rasta, Sarkhej, Ahmedabad-380055, Gujarat, India to the present address w.e.f. 01.12.2007.
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors For Goods |
|
|
|
|
A.V. Systems |
0.000 |
0.072 |
0.072 |
|
Gandhi
Corporation |
(0.001) |
0.000 |
0.022 |
|
Saidutta Clearing
Agency Private Limited |
(0.014) |
0.000 |
0.000 |
|
MCBS Private Limited
|
0.000 |
0.022 |
0.000 |
|
Shenzhen Supersun
Technology Limited, China |
0.000 |
0.295 |
0.000 |
|
Uniflex Cables
Limited |
0.988 |
0.966 |
0.000 |
|
Hideal Industrial
Limited, China |
0.000 |
(0.106) |
0.000 |
|
Shenzhen Avideo Technology
Company Limited, China |
0.000 |
(0.065) |
0.000 |
|
Total |
0.973 |
1.184 |
0.094 |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
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 |
-- |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
-- |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations 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, if available |
-- |
OPERATIONS:
Despite global recessionary trend in IT industry particularly broadband and networking solution services, the company has achieved the sales volume of Rs. 17.291 Millions during the year as compared to Rs. 7.252 Millions previous showing the growth of 238%. The company has earned gross margin of Rs. 1.061 Millions as against the loss of Rs. 0.311 Million and Net profit of Rs. 0.518 Million as against the loss of Rs. 0.112 Million. Thus the company has shown very good improved results during the year and expect to grow substantially in coming years.
FUTURE PROSPECTS
The business prospects of the company during the financial year 2010-11 would be determined by the emerging demand for internet and broadband services. There are indications that the demand of their services and particularly internet is expected to pick up very fast during the current year. The softening of the interest rate aided by the comfortable liquidity position would be a positive factor influencing the consumer demand for networking services. With the developing awareness in computer and electronic age and development of ecommerce and e-business, there is going to be the age of internet and broadband services.
With the boost to the infrastructure, core and software
sector in the budget proposals, it is expected to have very good networking
opportunities and youngsters are entering into electronic age which will boost
the potential of company’s services.
FIXED ASSETS:
·
Computer and Printer
·
Motor Cycle
·
Office Equipments
·
Laptop
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.49.17 |
|
|
1 |
Rs.77.49 |
|
Euro |
1 |
Rs.67.96 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.