MIRA
INFORM REPORT
|
Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
KAPILANSH DHATU UDYOG PRIVATE LIMITED |
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|
|
|
Registered
Office : |
112, Handloom Market, Gandhi Bag, Nagpur-440002, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.01.1988 |
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Com. Reg. No.: |
11-045813 |
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Capital Investment
/ Paid-up Capital : |
Rs.9.950
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U28910MH1988PTC045813 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPK00204B |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Cast Iron Centrifugal Pipes. |
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|
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 350000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations re 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 – 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 : |
112, Handloom Market, Gandhi Bag, Nagpur-440002, |
|
Tel. No.: |
91-712-3259021 / 2765282 / 2648421 |
|
Fax No.: |
91-712-2765282 / 2641308 |
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E-Mail : |
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Factory : |
KH. No. 63, Village Khairy, |
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Tel. No.: |
91-712-2648421/2631868/2641308 |
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Fax No.: |
91-712-2641308 |
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|
|
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Branch : |
105, Sunheri Premises, |
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Tel. No.: |
91-265-2281566 |
DIRECTORS
As on 09.09.2010
|
Name : |
Mr. Ramesh Baldeodas Dujari |
|
Designation : |
Whole Time Director |
|
Address : |
H No. 60, Ward No. 60, New Altar Oli, Amrut Complex, Mahal
Nagpur-440002, |
|
Date of Birth/Age : |
02.11.1994 |
|
Date of Appointment : |
03.11.1961 |
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|
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|
Name : |
Mr. Mukundkumar Sunderlal Mohta |
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Designation : |
Managing Director |
|
Address : |
Kanha, 13, |
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Date of Birth/Age : |
01.02.2001 |
|
Date of Appointment : |
10.07.1957 |
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|
|
|
Name : |
Mr. Milind Parshuram Brahmankar |
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Designation : |
Whole Time Director |
|
Address : |
P. No. 14-A, Hingna Road, Mahasaraswati Vinayak Nagar, Near Saint
Gadge Nagar, Nagpur-440022, Maharashtra, India |
|
Date of Birth/Age : |
01.09.2008 |
|
Date of Appointment : |
08.03.1970 |
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|
|
|
Name : |
Mr. Rajendra Ramswaroop Goyal |
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Designation : |
Director |
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Address : |
Flat No. 5, Tajshreelaxman Apartment, Near |
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Date of Birth/Age : |
01.01.1960 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 09.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mukundkumar Sunderlal Mohta |
10000 |
|
Bhagwatiprasad Daga N |
10 |
|
Sunderlal V. Mohta |
10250 |
|
Sunderlal Mohta HUF |
3500 |
|
Ashok S. Mohta |
10250 |
|
Srikuwarbai S. Mohta |
475 |
|
Renudevi A. Mohta |
220 |
|
Ashok Mohta HUF |
3500 |
|
Mukund Mohta |
22000 |
|
Singhi R. Savitridevi |
1500 |
|
Sunil R. Singhi |
1500 |
|
Saroj S. Singhi |
1500 |
|
Pannalal D. Ojha |
800 |
|
Saroj G. Desai |
275 |
|
Babulal Sawal |
250 |
|
S.K. Rathi |
150 |
|
Ramesh Dujari |
2920 |
|
Milind Brahmankar |
2350 |
|
Vijay Patankar |
2050 |
|
Alka Dalia |
100 |
|
Pooja Narayan Loya |
400 |
|
Enkay Trafin Private Limited, |
25500 |
|
|
|
|
Total |
99500 |
As on 09.09.2010
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
25.63 |
|
Directors
or relatives of directors |
65.79 |
|
Other
top fifty shareholders |
8.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cast Iron Centrifugal Pipes. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2010)
|
Installed
Capacity |
52000 M.T |
Actual Production:
|
Particular |
Unit |
Actual
Production |
|
Pipes |
In Mtrs |
1613505.258 |
|
Fittings |
In Nos |
86101.000 |
|
Castings and Others |
In Nos/Kg |
1252.000 |
GENERAL INFORMATION
|
Bankers : |
The Saraswat Co-Operative Bank Limited, Gandhi Bag Branch, Central Avenue
Road, Agrasen Road, Nagpur-440002, Maharashtra, India. |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Gupta Sarda and Bagdia Chartered Accountant |
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Address : |
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CAPITAL STRUCTURE
AS ON 09.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
99500 |
Equity Shares |
Rs.100/- each |
Rs.9.950
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 |
9.950 |
9.950 |
9.950 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
78.315 |
48.564 |
25.339 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
88.265 |
58.514 |
35.289 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
90.495 |
78.280 |
60.199 |
|
|
2] Unsecured Loans |
1.780 |
1.750 |
4.700 |
|
|
TOTAL BORROWING |
92.275 |
80.030 |
64.899 |
|
|
DEFERRED TAX LIABILITIES |
4.379 |
3.951 |
2.243 |
|
|
|
|
|
|
|
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TOTAL |
184.919 |
142.495 |
102.431 |
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APPLICATION OF FUNDS |
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|
|
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|
|
|
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|
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FIXED ASSETS [Net Block] |
91.082 |
59.612 |
42.328 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
12.894 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.025 |
0.025 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
52.981
|
46.423 |
90.250 |
|
|
Sundry Debtors |
192.179
|
183.660 |
99.057 |
|
|
Cash & Bank Balances |
5.624
|
9.251 |
11.791 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
52.270
|
35.752 |
17.642 |
|
Total
Current Assets |
303.054
|
275.086 |
218.740 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
113.831
|
132.145 |
|
|
|
Other Current Liabilities |
67.134
|
44.501 |
168.069 |
|
|
Provisions |
28.277
|
15.582 |
3.487 |
|
Total
Current Liabilities |
209.242
|
192.228 |
171.556 |
|
|
Net Current Assets |
93.812
|
82.858 |
47.184 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
184.919 |
142.495 |
102.431 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1437.432 |
1337.263 |
769.928 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
1437.432 |
1337.263 |
769.928 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
1368.363 |
1281.761 |
754.189 |
|
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|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1368.363 |
1281.761 |
754.189 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
69.069 |
55.502 |
15.739 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.168 |
11.300 |
9.965 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
60.901 |
44.202 |
5.774 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
14.795 |
7.038 |
5.037 |
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|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
46.106 |
37.164 |
0.737 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
19.457 |
13.939 |
0.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
29.649 |
23.225 |
0.081 |
|
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|
|
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|
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|
IMPORTS |
34.241 |
6.651 |
15.184 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
297.98 |
233.41 |
0.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.06
|
1.74 |
0.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.70
|
11.10 |
0.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.64 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.42
|
4.65 |
6.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.43 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
KAPILANSH DHATU UDYOG PRIVATE LIMITED |
|
Presented By |
The Saraswat
Co-Operative Bank Limited, Gandhi Bag Branch, |
|
1) Date and description of instrument creating the change |
Dated 08th
July, 2005 Agreement of hypothecation
of movable property. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.000 millions
|
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
At the request of
the borrower the bank has sectioned work capital term loan limits of Rs.5.000
millions to secured due repayment of above limits and for interest and other charges
thereon, the borrower company has hypothecated and first charge on all the
fixed assets and tangible movable property (both present and future)
belonging to the borrower/s and lying and being at the borrowers place of
business at Kh. No. 63, Village Khairy, Kamptee Road, Nagpur, Maharashtra,
India. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest at the
rate 12.50% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
The Saraswat Co-Operative Bank Limited, Gandhi Bag Branch, Central
Avenue Road, Agrasen Road, Nagpur-440002, Maharashtra, India. |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U28910MH1988PTC045813 |
|
Name of the
company |
KAPILANSH DHATU
UDYOG PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
112, Handloom Market, Gandhi Bag, Nagpur-440002, |
|
Type of charge |
Movable Property
(not being pledge) Others |
|
Particular of
charge holder |
The Saraswat Co-Operative Bank Limited, Gandhi Bag Branch, Central Avenue
Road, Agrasen Road, Nagpur-440002, Maharashtra, India. |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of Hypothecation
of Vehicle. |
|
Date of
instrument Creating the charge |
31.10.2009 |
|
Amount secured by
the charge |
Rs.3.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
@ PLR % p. a. i. e. 13.00 % p. a. against applicable rate of interest @ PLR +
0.50 % P. A. i.e. 13.50 % on the new
term loan. Terms of
Repayment Repayment within 36 months as under : 35 Monthly
Installments of Rs. 0.0850 Millions each. Last Installments
of Rs. 0.025 Millions with no Moratorium period. Margin Margin 15 %
Hypothecation of Buses to be purchased Extent and
Operation of the charge At the request of
the borrower, the bank has sanctioned the Term Loan Limit of Rs. 3.000 Millions
to secure due repayment the above TL Limit along with all costs, interest and
other charges thereon, first Charge on the movable properties of the Company Others Other terms and
conditions as per sanctioned letter No SCB/ZO-VI/09-10/59 Dated 05th October,
2009 and all loaning documents executed between borrower and Company. |
|
Short particulars
of the property charged |
Hypothecation of
Buses, Motors, Taxi, Truck, Car and Vehicles registered with the Regional
Transport Office at |
Fixed Assets:
- Land
- Land and Site
Development
- Cooling
Ducting
- Furniture and
Fixtures
- Plant and
Machinery
- Electrical
Equipments
- Generator
- Crane
- Laboratory
Equipments
- Computers
- Fax
- Motor
Vehicles
AS PER WEBSITE
DETAILS:
PROFILE:
Subject started manufacturing Cast Iron Centrifugal Pipes in 1989 and since then have supplied all over the country to various prestigious projects, covering water supply schemes as well as Sawage Disposal and Earthing Electrodes.
For long it has been the only plant in central India manufacturing C.I Centrifugally Cast Pressure Pipes with manufacturing facilities in Nagpur (Maharashtra-India) and a well trained and dedicated manpower, producing quality products consistently. The installed capacity is 45000MT per Annum.
Subject enjoys wide Recognition and Approvals from various Government Departments, Third Party inspection agencies and a very wide and diversified Clientele backed with ISO: 9001 Quality Certification from M/s SGS Yashley International Certification Services.
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.48.92 |
|
|
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.64 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.