MIRA
INFORM REPORT
|
Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
K. D. JOSHI
RUBBER INDUSTRIES PRIVATE LIMITED (w.e.f. 23.01.2008) |
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|
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Formerly Known As : |
K. D. JOSHI
RUBBER INDUSTRIES AND TRADING PRIVATE
LIMITED |
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Registered Office : |
Ramanbag Society,
353, Shaniwar Peth, Pune-411030, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
31.12.1981 |
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Com. Reg. No.: |
11-25955 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.430
Million |
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CIN No.: [Company
Identification No.] |
U25199PN1981PTC025955 |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Manufacturers and
Exporter of Rubber and Polyurethane components for Industrial Application |
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No. of Employees : |
60 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 53000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Financially company is performing well. Trade relations are reported to be fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for business dealing 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Milind Joshi |
|
Designation : |
Director |
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Contact No.: |
91-9822655071 |
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Date : |
28.07.2012 |
LOCATIONS
|
Registered Office : |
Ramanbag Society,
353, Shaniwar Peth, Pune-411030, |
|
Tel. No.: |
91-20-445254 /
4457699 / 27474181 / / 27472170 |
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Mobile No.: |
91-9822655071 (Mr. Milind Joshi) |
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Fax No.: |
91-20-24492284 |
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E-Mail : |
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Area : |
600 Sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Plot No. A 83-85,
H Block, MIDC, Pimpri, Pune-411018, Maharashtra, India |
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Tel. No.: |
91-20-27474181 /
27472170 / 7474181 / 7472170 |
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Fax No.: |
91-20-66112066 |
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Area : |
Plot Area –
20000sq.fts Built up –
10000sq.fts |
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Location : |
Owned |
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|
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Factory 2 : |
Gala No. 64, Parmar Industrial Complex, Chinchwad, Pune, |
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Area: |
600 Sq.fts. |
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Location : |
Owned |
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Branches : |
Shop No. 7 and 8,
606/ A-2, Varun Complex, GIDC, Sachin, Surat, Gujarat, India |
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E-Mail : |
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Area : |
450 Sq. ft. |
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Location : |
Leased |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Milind Kamalakar Joshi |
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Designation : |
Director |
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Address : |
353, Shaniwar Peth, Pune-411030, |
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Date of Birth/Age : |
02.04.1960 |
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Date of Appointment : |
31.12.1981 |
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DIN No.: |
01856867 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U25199PN1981PTC025955 |
K.D.JOSHI
RUBBER INDUSTRIES PRIVATE LIMITED |
Director |
31/12/1981 |
31/12/1981 |
Active |
NO |
|
2 |
U65993PN1981PTC025956 |
K D
JOSHI FINANCE AND INVESTMENT PRIVATE LIMITED |
Director |
31/12/1981 |
31/12/1981 |
Active |
NO |
|
3 |
U65993PN1983PTC029705 |
MAKARAND
HOLDING PRIVATE LIMITED |
Director |
31/03/1983 |
31/03/1983 |
Active |
NO |
|
4 |
U29299MH1987PTC044139 |
METALIKA
PRODUCTS PRIVATE LIMITED |
Director |
22/07/1987 |
22/07/1987 |
Active |
NO |
|
Name : |
Mr. Kamalakar Damodar Joshi |
|
Designation : |
Director |
|
Address : |
353, Shaniwar Peth, Pune-411030, |
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Date of Appointment : |
31.12.1981 |
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DIN No.: |
01856855 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U65993PN1981PTC025956 |
K D
JOSHI FINANCE AND INVESTMENT PRIVATE LIMITED |
Director |
31/12/1981 |
31/12/1981 |
Active |
NO |
|
2 |
U25199PN1981PTC025955 |
K.D.JOSHI
RUBBER INDUSTRIES PRIVATE LIMITED |
Director |
31/12/1981 |
31/12/1981 |
Active |
NO |
|
3 |
U65993PN1983PTC029705 |
MAKARAND
HOLDING PRIVATE LIMITED |
Director |
31/03/1983 |
31/03/1983 |
Active |
NO |
|
4 |
U29299MH1987PTC044139 |
METALIKA
PRODUCTS PRIVATE LIMITED |
Director |
26/07/1994 |
26/07/1994 |
Active
|
|
|
Name : |
Mr. Makrand Kamalakar Joshi |
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Designation : |
Director |
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Address : |
353, Shaniwar Peth, Pune-411030, |
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Date of Appointment : |
31.12.1981 |
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DIN No.: |
01856885 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U65993PN1981PTC025956 |
K D
JOSHI FINANCE AND INVESTMENT PRIVATE LIMITED |
Director |
31/12/1981 |
31/12/1981 |
Active |
NO |
|
2 |
U25199PN1981PTC025955 |
K.D.JOSHI
RUBBER INDUSTRIES PRIVATE LIMITED |
Director |
31/12/1981 |
31/12/1981 |
Active |
NO |
|
3 |
U65993PN1983PTC029705 |
MAKARAND
HOLDING PRIVATE LIMITED |
Director |
31/03/1983 |
31/03/1983 |
Active |
NO |
|
4 |
U29299MH1987PTC044139 |
METALIKA
PRODUCTS PRIVATE LIMITED |
Director |
26/07/1994 |
26/07/1994 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Kamalakar Damodar Joshi |
23650 |
|
Milind Kamalakar Joshi |
4300 |
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Makrand Kamalakar Joshi |
12900 |
|
Milind Joshi |
2150 |
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TOTAL
|
43000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
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TOTAL |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and
Exporter of Rubber and Polyurethane components for Industrial Application |
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Products : |
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Exports : |
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Products : |
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Countries : |
·
Dubai ·
Bangladesh ·
Canada ·
Germany ·
Australia ·
Uman |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Suppliers : |
·
P. P. Chemicals |
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Customers : |
End Users ·
Aquarius Engineering Private Limited |
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No. of Employees : |
70 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chandorkar and Limaye Chartered Accountant |
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Address : |
914, Sadashiv Peth, Laxminarayan Society, Pune – 411030, |
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PAN No.: |
AABFC9951D |
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Sister Concern : |
Metalika
Products India Private Limited Address : Block F, Plot No.3, MIDC, Pimpari, Pune, Maharashtra, India Line of Business :- Manufacturers
and Exporter of Rubber and Polyurethane components for Industrial Application |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
150000 |
Equity Shares |
Rs.10/- each |
Rs. 1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
43000 |
Equity Shares |
Rs.10/- each |
Rs. 0.430
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.430 |
0.430 |
0.205 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
12.912 |
7.796 |
1.777 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.342 |
8.226 |
1.982 |
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LOAN FUNDS |
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1] Secured Loans |
5.749 |
6.243 |
0.000 |
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2] Unsecured Loans |
14.746 |
17.951 |
0.000 |
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TOTAL BORROWING |
20.495 |
24.194 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.014 |
0.000 |
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TOTAL |
33.837 |
32.434 |
1.982 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.007 |
8.435 |
0.115 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
5.761 |
5.468 |
1.653 |
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DEFERREX TAX ASSETS |
0.001 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
8.179
|
6.145
|
0.000
|
|
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Sundry Debtors |
19.397
|
16.464
|
0.000
|
|
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Cash & Bank Balances |
0.772
|
2.415
|
0.223
|
|
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Other Current Assets |
2.454
|
0.193
|
0.076
|
|
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Loans & Advances |
1.972
|
1.962
|
0.000
|
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Total
Current Assets |
32.774
|
27.179 |
0.299 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.221
|
4.785
|
0.000
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.015
|
|
|
Provisions |
5.485
|
3.863
|
0.070
|
|
Total
Current Liabilities |
12.706
|
8.648 |
0.085 |
|
|
Net Current Assets |
20.068
|
18.531
|
0.214
|
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
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|
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TOTAL |
33.837 |
32.434 |
1.982 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
70.139 |
60.839 |
0.250 |
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Less |
EXPENSES |
|
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|
Office Expenses |
|
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|
Administrative Expenses |
62.552 |
53.036 |
0.033 |
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Advertising Expenses |
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TOTAL |
62.552 |
53.036 |
0.033 |
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PROFIT BEFORE
TAX |
7.587 |
7.803 |
0.217 |
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Less |
TAX |
2.472 |
2.440 |
0.070 |
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PROFIT AFTER TAX
|
5.115 |
5.363 |
0.147 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
0.035 |
0.516 |
NA |
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TOTAL EARNINGS |
0.035 |
0.516 |
NA |
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Earnings Per
Share (Rs.) |
118.97 |
124.73 |
7.19 |
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Particulars |
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|
31.03.2012 |
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Sales Turnover (Approximately) |
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|
71.000 |
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Expected Sales (2012-2013) : Rs.72.500 Millions
The above information has been parted by Mr. Milind Joshi .
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.29
|
8.81 |
58.80 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.60
|
21.90 |
52.42 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.57
|
0.94 |
0.11 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.49
|
3.99 |
0.04 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.58
|
3.14 |
3.52 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
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 |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
BUSINESS
OPERATIONS
During the year total revenue was Rs. 70.139 millions (Previous year Rs.
60.839 millions), total expenditure was Rs. 62.552 millions (previous year Rs.
53.036 millions) and resultant net profit was Rs. 7.587 millions (previous year
Rs. 7.803 millions) before provision of income tax. Provision for income tax
was Rs. 2.472 millions (previous year Rs. 2.439 millions) with the resultant
net profit after tax of Rs. 5.115 millions (previous year Rs. 5.363 millions).
The Directors are hopeful of further improved performance during the
current year.
FORM 8
|
Corporate
identity number of the company |
U25199PN1981PTC025955 |
|
Name of the
company |
K. D. JOSHI
RUBBER INDUSTRIES PRIVATE LIMITED (w.e.f. 23.01.2008) |
|
Address of the
registered office or of the principal place of business in |
Ramanbag Society,
353, Shaniwar Peth, Pune-411030, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Others |
|
Particular of
charge holder |
Bank of Baroda, Shivaji Nagar, 1303, Jangli Maharaj Road, Pune 411005,
Maharashtra, India Email: shipoo@bankofbaroda.com |
|
Nature of
instrument creating charge |
Instrument of
Hypothecation of Vehicle |
|
Date of
instrument Creating the charge |
05.07.2011 |
|
Amount secured by
the charge |
Rs.0.374 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 2.25% Above Base
Rate. 12.25 P.A. With Monthly Rests. (Present Base Rate IS 10%) Terms of repayment 60 Equated
Monthly Installments Of Rupees 0.008 million P.M. Starting From August 2011 Margin 20% Extent and operation of the charge To register
bank's lien with RTO and submit copy of RC book to bank. Bank reserves
right to inspect the vehicle at any time. Penal interest @
2% p.a. Will be charged in case of delay/ default in payment of interest/
installments. In case of default/non compliance, bank has a right to recall
the facility. |
|
Short particulars
of the property charged (Including location of the property) |
Chevrolet Make
Spark Car |
TRADE REFERENCES
- Aquarius
Engineering Private Limited
- P. P.
Chemicals
FIXED ASSETS
·
Lease Hold Land
·
Factory Building
·
Office Building
·
Furniture And Fixture
·
Electrical Fitting
·
Computer System
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 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. 55.80 |
|
|
1 |
Rs. 87.66 |
|
Euro |
1 |
Rs. 68.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.