|
Report Date : |
07.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
KANWAL
ENTERPRISES |
|
|
|
|
Registered Office : |
Gali No. 3-4, Sheetla
Colony, Sector – 5 Road, Gurgaon – 122001, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Year of Establishment : |
1995 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.937 Million |
|
|
|
|
Legal Form : |
Sole Proprietory
Concern |
|
|
|
|
Line of Business : |
Manufacturer of
all Plant, Machinery and Testing Equipments required for the Manufacturing of
Air, Oil, Fuel Filters, HEPA Filters, Industrial Filters and Special Purpose
Machines. |
|
|
|
|
No. of Employees
: |
23
(approximately) |
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 3748 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established
Proprietory concern having satisfactory track. Trade relations are reported
as fair. Business is active. Payments are reported to be usually correct and
as per commitments. The concern 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) |
|
India |
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. Tajnter Singh |
|
Designation : |
Operation Head |
|
Contact No.: |
91-9810271423 |
|
Date : |
17.03.2012 |
LOCATIONS
|
Registered Office/Factory : |
Gali No. 3-4,
Sheetla Colony, Sector – 5 Road, Gurgaon – 122001, Haryana, India |
|
Tel. No.: |
91-124-2222090 |
|
Mobile No. : |
91-9810271423 (Mr. Tajnter
Singh) |
|
Fax No.: |
91-124-2222090 |
|
E-Mail : |
kanwalenterprises@gmail.com, kanwalenterprises2003@yahoo.com |
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Website : |
|
|
Area : |
5000 sq.ft. |
|
Location : |
Owned |
SOLE
PROPRIETOR
|
Name : |
Mr. Kanwaljit
Kaur |
|
Designation : |
Sole Proprietor |
|
Address : |
H. No. 333,
Sector 7, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
15.04.1961 |
|
Qualification : |
M.Com |
|
Experience : |
17 years |
BUSINESS
DETAILS
|
Line of Business : |
Manufacturer of
all Plant, Machinery and Testing Equipments required for the Manufacturing of
Air, Oil, Fuel Filters, HEPA Filters, Industrial Filters and Special Purpose
Machines. |
|
|
|
|
Products : |
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|
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Exports: |
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|
Products : |
Filter Making
Machinery |
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Countries : |
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GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
23 (5 In Office
and 18 In Factory) |
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Bankers : |
Gurgaon, |
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Facilities : |
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Banking Relations : |
-- |
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|
|
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Auditors : |
|
|
Name: |
Harpal and
Associates Chartered
Accountant |
CAPITAL STRUCTURE
Proprietor
Capital Account as on 31.03.2011
|
Particulars |
31.03.2011 (Rs. In Millions) |
|
Proprietor Capital |
0.937 |
|
|
|
|
Total |
0.937 |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor Capital |
|
0.937 |
0.627 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.937 |
0.627 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.044 |
0.164 |
|
|
2] Unsecured Loans |
|
0.095 |
0.417 |
|
|
TOTAL BORROWING |
|
0.139 |
0.581 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1.076 |
1.208 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4.009 |
4.270 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
8.198 |
4.483 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2.306 |
1.976 |
|
|
Sundry Debtors |
|
1.589 |
0.747 |
|
|
Cash & Bank Balances |
|
1.773 |
1.324 |
|
|
Other Current Assets |
|
0.154 |
0.512 |
|
|
Loans & Advances |
|
0.385 |
0.758 |
|
Total
Current Assets |
|
6.207 |
5.317 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
13.491 |
12.691 |
|
|
Other Current Liabilities |
|
3.847 |
0.171 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
17.338 |
12.862 |
|
|
Net Current Assets |
|
(11.131) |
(7.545) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1.076 |
1.208 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
17.620 |
11.862 |
|
|
|
Other Income |
|
0.000 |
0.176 |
|
|
|
TOTAL |
|
17.620 |
12.038 |
|
|
|
|
|
|
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|
|
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
12.033 |
7.748 |
|
|
|
Direct Expenses |
|
1.580 |
1.499 |
|
|
|
Indirect Expenses |
|
2.481 |
1.544 |
|
|
|
Depreciation |
|
0.641 |
0.737 |
|
|
|
TOTAL |
|
16.735 |
11.528 |
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.883 |
0.508 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
18.65 |
21.44 |
|
|
|
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.35 |
0.41 |
LOCAL AGENCY FURTHER INFORMATION
|
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
(2 years) |
|
12) Profitability for last
three years |
Yes
(2 years) |
|
13) Reasons for variation
<> 20% |
No |
|
14) Estimation for coming
financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
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 |
Yes |
|
28) Incorporation details, if applicable |
---------------------- |
|
29) Last accounts filed at ROC |
---------------------- |
|
30) Major Shareholders, if
available |
---------------------- |
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.51.04 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.67.39 |
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 |
NO |
|
--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 |
|
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.