MIRA
INFORM REPORT
|
Report Date : |
04.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
KADKOMP SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
Sai Niketan, 101/102, Erandawana, Off Mahatre Bridge, Pune-411004,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
07.07.1989 |
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Com. Reg. No.: |
11-052499 |
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Capital
Investment / Paid-up Capital : |
Rs.0.400
Million |
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CIN No.: [Company Identification
No.] |
U72200PN1989PTC052499 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider of Autotech Software. |
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No. of Employees
: |
25 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 10000 |
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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
profitability of the company appears to be low. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 2B |
|
Rating Explanation |
High performance capability and moderate financial strength |
|
Date |
January 2009 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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 : |
Ms. Pradnya Deshmukh |
|
Designation : |
Accounts Head |
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Contact No.: |
91-20-25469870 |
|
Date : |
03.12.2012 |
LOCATIONS
|
Registered Office : |
Sai Niketan, 101/102, Erandawana, Off |
|
Tel. No.: |
91-20-25469870/25435754 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Ravindra Ganesh Kulkarni |
|
Designation : |
Director |
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Address : |
9-C, Vedant Nagar, Surabhi S No. 9, Karve Nagar, Pune-411052, |
|
Date of Birth/Age : |
06.01.1963 |
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Date of Appointment : |
07.07.1989 |
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Din No.: |
00190830 |
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Name : |
Mr. Vinod Govind Kulkarni |
|
Designation : |
Director |
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Address : |
403, Building No. 2, Rahul Towers, Paud Road, Pune-411004,
Maharashtra, India |
|
Date of Birth/Age : |
22.12.1963 |
|
Date of Appointment : |
07.07.1989 |
|
Din No.: |
00190869 |
KEY EXECUTIVES
|
Name : |
Ms. Pradnya Deshmukh |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ravindra Ganesh Kulkarni |
|
12500 |
|
Vinod Govind Kulkarni |
|
12500 |
|
Sujata Ravindra Kulkarni |
|
7500 |
|
Nayna Vinod Kulkarni |
|
7500 |
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TOTAL
|
|
40000 |
AS ON 25.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of Autotech Software. |
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Terms : |
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Selling : |
LC / Cash and Credit |
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Purchasing : |
LC / Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
·
Ingram Micro |
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Customers : |
End Users ·
Sandvik Asia Limited |
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No. of Employees : |
25 [Approximately] |
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Bankers : |
·
Indian Overseas Bank, Aundh Branch, B-161/162,
Supriya Towers, New D.P. Road, Aundh, Pune-411007, Maharashtra, India ·
The Shree Suvarna Sahakari Bank Limited, 272,
Bhaniwar Peth, Pune-411030, ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Parag Patwa and Associates Chartered Accountants |
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Address : |
313 A, |
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PAN No: |
AANFP3201B |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000 |
Equity Shares |
Rs.10/- each
|
Rs.0.400
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.400 |
0.400 |
0.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.334 |
1.854 |
1.622 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
2.734 |
2.254 |
2.022 |
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|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
12.924 |
12.578 |
13.157 |
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2] Unsecured Loans |
0.258 |
0.674 |
2.398 |
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TOTAL BORROWING |
13.182 |
13.252 |
15.555 |
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DEFERRED TAX LIABILITIES |
0.554 |
0.081 |
0.000 |
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TOTAL |
16.470 |
15.587 |
17.577 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.628 |
5.165 |
6.585 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.020 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
5.424
|
9.582 |
5.779 |
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Sundry Debtors |
6.780
|
7.290 |
4.664 |
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Cash & Bank Balances |
1.683
|
2.549 |
1.077 |
|
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Other Current Assets |
0.424
|
0.313 |
9.386 |
|
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Loans & Advances |
10.284
|
10.342 |
0.225 |
|
Total
Current Assets |
24.595
|
30.076 |
21.131 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
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Sundry Creditors |
4.560
|
9.333 |
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Other Current Liabilities |
7.533
|
9.698 |
8.058 |
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Provisions |
0.660
|
0.623 |
2.123 |
|
Total
Current Liabilities |
12.753
|
19.654 |
10.181 |
|
|
Net Current Assets |
11.842
|
10.422 |
10.950 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.022 |
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TOTAL |
16.470 |
15.587 |
17.577 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Revenue |
61.520 |
47.629 |
NA |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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|
Less |
EXPENSES |
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TOTAL |
NA |
NA |
NA |
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PROFIT / (LOSS)
BEFORE TAX |
0.480 |
0.232 |
0.252 |
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Less |
TAX |
NA |
NA |
NA |
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PROFIT / (LOSS)
AFTER TAX |
NA |
NA |
NA |
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Earnings / (Loss)
Per Share (Rs.) |
NA |
NA |
NA |
|
Expected Sales (2012-13) : Rs.80.000 Millions
The above information has been parted by Ms. Pradnya Deshmukh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.64
|
0.66 |
0.91 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.10 |
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
|
9.49
|
14.60 |
12.73 |
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|
|
Current Ratio (Current Asset/Current Liability) |
|
1.93
|
1.53 |
2.07 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
4.560
|
9.333 |
NA |
|
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 |
No |
|
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 two 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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
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] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL RESULTS:
The audited profit and loss account shows
profit Rs.0.480 Million as compared to last year of Rs.0.232 Million after
providing for depreciation, taxation and deferred tax. During the current year
revenue from operations of the company has increase from Rs.47.629 Millions to
Rs.61.520 Millions, increase of 29%. The working of the company for first five
months of current year has been satisfactory.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10194181 |
|
Corporate
identity number of the company |
U72200PN1989PTC052499 |
|
Name of the
company |
KADKOMP SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Sai Niketan, 101/102, Erandawana, Off Mahatre Bridge, Pune-411004,
Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property Others |
|
Particular of
charge holder |
Indian Overseas Bank, Aundh Branch, B-161/162, Supriya Towers, New
D.P. Road, Aundh, Pune-411007, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Dee of
Hypothecation and submission of the Title Deeds through the execution has
been carried out between the Bank and the Borrower Company to confirm the continuation
of the Securities towards the enhanced limits extended by the Bank to the
Borrower Company. |
|
Date of
instrument Creating the charge |
21.06.2012 |
|
Amount secured by
the charge |
Rs.6.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate+2.25%
p.a. the effective rate would be: 12.75%p.a. Penal interest on default of any
of the Terms and conditions as per RBI's directives time to time. Terms of Repayment DCC: On Demand.
The tenor would be of 12 months. Margin 25% on Stock and
50% on Book Debts. Extent and Operation of the charge IOB Aundh Branch
Pune will have first and exclusive charge against all the present and future
current assets inclusive of Book debts of the Company. The Company has
extended the Collateral Security by way of EM of 450 sq.ft. Office premises
on 1st floor Sai Niketan Erandwane and 376 Sq. ft premises of Apartment No.7
Sai Niketan Erandwane Pune. Personal Guarantee of the Directors to set
against the repayment of entire loan with interest thereon. The Charge will
be in continuous mode. Others The Company, by
virtue of the Board Resolution has given assent to all the Terms and
Conditions, Covenants, as provided in the Bank's Sanction Letter Dated
08/06/2012and have executed the related loan document(s)/Agreement(s) through
the Director(s), who have received and signed the documents in physical form
and have authorized one of the Directors to file eform-8 for the
modifications in the existing limits and in the nature and scope of the
charge on agreed terms. |
|
Short particulars
of the property charged |
All the present
and future current assets inclusive of Book Debts generated through the
commercial transactions and record maintained at the Registered Office and at
the Works of the Company. Collateral
Security: 456 Sq. Ft. premises at Apartment No.7 Commercial Office No.1,1st
Floor, Sai Niketan Erandwane Pune owned by Radek Systems. Collateral
Security: 376 Sq. Ft. premises at Apartment No.7 Residential Flat No-2 in Sai
Niketan Apartment Erandwane Pune owned by Shri Vinod G Kulkarni and Shri
Ravindra Kulkarni. |
|
Particulars of
the present modification |
By this modification,
the existing Cash Credit limit of Rs.4.500 millions has been raised by
Rs.1.500 millions making the total Cash Credit Limit to the tune of Rs.6.000
Millions. |
FIXED ASSETS:
·
Plant and Machinery
·
Furniture and Fixtures
·
Air Conditioners
·
Computer
·
Office Equipments
·
Electrical Installation
·
Mobile Phone
·
Motor Vehicles
·
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 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.54.56 |
|
|
1 |
Rs.87.45 |
|
Euro |
1 |
Rs.71.08 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
|
32 |
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.