MIRA
INFORM REPORT
|
Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
KAYNES TECHNOLOGY INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
23-25, Belagola, Food Industrial Estate, Metalgalli P O, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
28.03.2008 |
|
|
|
|
Com. Reg. No.: |
08-45825 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.25.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
u29128ka2008ptc045825 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK08538F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCK3295K |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Importer of Electrical Components, Testing
Equipments, etc. |
|
|
|
|
No. of Employees : |
750 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 930000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The
company is doing well. Trade relations are 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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.
LOCATIONS
|
Registered Office / Corporate Office /
Factory 1 : |
23-25, Belagola, Food Industrial Estate, Metalgalli P O, |
|
Tel. No.: |
91-821-4280259 / 4280270 / 2582595 |
|
Fax No.: |
91-821-2282701 / 2582595 |
|
E-Mail : |
commercial@kaynestechnology.net ramesh-kannan@kaynestyechnology.net |
|
Website : |
www.kaynestechnology.net |
|
Area : |
3 Acres |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No 4, Near Govt Middle Primary School, Sector 5, Parwanoo
PO, Solan District – 173 220, Himachal Pradesh, India |
|
Tel. No.: |
91-1792-233045 |
|
|
|
|
Factory 3 : |
Khasra Hope Town, Camp Road, Industrail Area, Selaqui PO, Vikas Nagar, |
|
|
|
|
Factory 4 : |
# A-53, 2nd Main, 2nd Phase, Peenya Industrial Area, |
|
Tel. No.: |
91-80-40902613 / 40902614 |
|
|
|
|
Overseas Office 1 : |
|
|
Tel. No.: |
414-339-8866 |
|
E-Mail : |
|
|
|
|
|
Overseas Office 2 : |
|
|
Tel. No.: |
856-649-9320 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Ramesh Kunhikannan |
|
Designation : |
Managing Director |
|
Address : |
Rukrani Emerald Enclave, Belavadi Post, |
|
Date of Birth/Age : |
28.02.1964 |
|
Date of Appointment : |
24.09.2012 |
|
DIN No.: |
02063167 |
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 |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U00360KA1995PTC018340 |
MARITRONICS
INDIA PRIVATE LIMITED |
Director |
17/12/1999 |
17/12/1999 |
- |
Active |
NO |
|
2 |
U29128KA2008PTC045825 |
KAYNES
TECHNOLOGY INDIA PRIVATE LIMITED |
Managing
director |
24/09/2012 |
28/03/2008 |
- |
Active |
NO |
|
3 |
U72900TN2009PTC073280 |
KEMSYS
TECHNOLOGIES PRIVATE LIMITED |
Director |
20/10/2009 |
20/10/2009 |
- |
Active |
NO |
|
4 |
U72200KA2009PTC051856 |
KAYNES
EMBEDDED SYSTEMS PRIVATE LIMITED |
Director |
16/12/2009 |
16/12/2009 |
- |
Active |
NO |
|
Name : |
Mrs. Savitha Ramesh |
|
Designation : |
Director |
|
Address : |
Rukrani Emerald Enclave, Belavadi Post, |
|
Date of Birth/Age : |
04.03.1972 |
|
Date of Appointment : |
28.03.2008 |
|
DIN No.: |
01756684 |
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 |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51507TN2005PTC058428 |
EMINENCE
ELECTRONIC TECHNOLOGY (INDIA ) PRIVATE LIMITED |
Managing
director |
01/12/2006 |
26/12/2005 |
- |
Active |
NO |
|
2 |
U29128KA2008PTC045825 |
KAYNES
TECHNOLOGY INDIA PRIVATE LIMITED |
Director |
28/03/2008 |
28/03/2008 |
- |
Active |
NO |
|
3 |
U70200TN2012PTC087948 |
NAMBI
REALITY PRIVATE LIMITED |
Director |
05/10/2012 |
05/10/2012 |
- |
Active |
NO |
|
4 |
U70109TN2012PTC087947 |
CHEYYUR
PROPERTIES PRIVATE LIMITED |
Director |
05/10/2012 |
05/10/2012 |
- |
Active |
NO |
|
5 |
U70109TN2012PTC087941 |
CHEYYUR
REAL ESTATES PRIVATE LIMITED |
Director |
05/10/2012 |
05/10/2012 |
- |
Active |
NO |
|
Name : |
Podila Pandu Ranga Rao |
|
Designation : |
Additional director |
|
Address : |
25, Flat No.B1, Ashok Ganapathim, 4th Main Road, Raja
Annamalaipuram, Chennai – 600028, Tamilnadu, India |
|
Date of Birth/Age : |
25.06.1947 |
|
Date of Appointment : |
10.03.2012 |
|
DIN No.: |
02356232 |
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 |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L31900TN1985PLC012343 |
UCAL
FUEL SYSTEMS LIMITED |
Director |
29/09/2009 |
26/09/2008 |
25/09/2011 |
Active |
NO |
|
2 |
U29128KA2008PTC045825 |
KAYNES
TECHNOLOGY INDIA PRIVATE LIMITED |
Director |
29/09/2012 |
10/03/2012 |
- |
Active |
NO |
|
Name : |
Antose Antoney |
|
Designation : |
Additional director |
|
Address : |
No.48, AGA, Abbas Ali Road, 3rd Cross Ulsoor, Bangalore –
560042, Karnataka, India |
|
Date of Birth/Age : |
30.05.1971 |
|
Date of Appointment : |
10.03.2012 |
|
DIN No.: |
01448985 |
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 |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U80301KL1997PTC011967 |
ORBIT
EDUCATIONAL AND RESEARCH FOUNDATION PRIVATE LIMITED. |
Director |
17/12/1997 |
17/12/1997 |
- |
Strike
off |
NO |
|
2 |
U70200KA2011PLC057452 |
APPLE
PROPERTIES LIMITED |
Managing
director |
07/05/2011 |
07/03/2011 |
- |
Active |
NO |
|
3 |
U40107KA2008PLC046311 |
YUKTHI
ENERGY AND STEEL LIMITED |
Director |
25/07/2011 |
24/06/2011 |
23/05/2012 |
Active |
NO |
|
4 |
U15500KA2008PLC048451 |
I
BRANDS BEVERAGES LIMITED |
Additional
director |
09/02/2012 |
09/02/2012 |
- |
Active |
NO |
|
5 |
U29128KA2008PTC045825 |
KAYNES
TECHNOLOGY INDIA PRIVATE LIMITED |
Director |
29/09/2012 |
10/03/2012 |
- |
Active |
NO |
|
6 |
U10300MH2012PLC236557 |
OCTAMEC
MINING LIMITED |
Director |
08/10/2012 |
08/10/2012 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ramesh Kunhikannan |
|
4947525 |
|
Savitha Ramesh |
|
2475 |
|
Total |
|
4950000 |
As on 29.09.2012
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Electrical Components, Testing
Equipments, etc. |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Licensed /
Installed Capacity |
Actual
Production (Excluding
Captive Consumption) |
|
Populated Printed Circuit Boards |
2500000 |
1156795 |
GENERAL INFORMATION
|
No. of Employees : |
750 (Approximately) |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
· Canara Bank, No. 6, Temple Road, Jayalakshmipuram, Mysore – 570 012, Karnataka, India · ING Vysya Bank Limited, 22, Ground Floor, ING Vysya House, M. G. Road, Bangalore – 560001, Karnataka, India · Export-Import Bank of India, Center One Building, Floor 21, World Trade Centre, Cuffe Parade, Mumbai – 400 005, Maharashtra, India · HDFC Bank Limited |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Banking
Relations : |
--- |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Auditors : |
|
|||||||||||||||||||||||||||
|
Name : |
A K Chartered Accountants |
|||||||||||||||||||||||||||
|
Address : |
“Sree Mahalakshmi Mandiram”, 1105, |
|||||||||||||||||||||||||||
|
PAN No.: |
ACMPK0665P |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Subsidiaries : |
·
Kaynes Embedded Systems Private Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Associates : |
· Kaynes Technology Europe GMBH |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Related Party : |
· Kemsys Technologies Private Limited · Kadd Technologies (Proprietary Concern) ·
Kaynes Energy Systems (Partnership Firm) |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4950000 |
Equity Shares |
Rs.10/- each |
Rs.49.500 Millions |
As on 30.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
25.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
206.425 |
155.898 |
103.208 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
231.425 |
165.898 |
113.208 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
309.482 |
243.494 |
169.349 |
|
|
2] Unsecured Loans |
4.292 |
1.877 |
15.755 |
|
|
TOTAL BORROWING |
313.774 |
245.371 |
185.104 |
|
|
DEFERRED TAX LIABILITIES |
12.353 |
8.361 |
3.327 |
|
|
|
|
|
|
|
|
TOTAL |
557.552 |
419.630 |
301.639 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
156.414 |
104.876 |
76.034 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
17.616 |
12.913 |
0.656 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
232.700
|
118.544 |
93.237 |
|
|
Sundry Debtors |
436.426
|
311.807 |
232.061 |
|
|
Cash & Bank Balances |
30.714
|
16.816 |
20.594 |
|
|
Other Current Assets |
8.780
|
0.000 |
0.000 |
|
|
Loans & Advances |
46.080
|
89.519 |
45.860 |
|
Total
Current Assets |
754.700
|
536.686 |
391.752 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
318.857
|
181.857 |
135.061 |
|
|
Other Current Liabilities |
25.432
|
8.303 |
10.090 |
|
|
Provisions |
26.889
|
44.933 |
21.982 |
|
Total
Current Liabilities |
371.178
|
235.093 |
167.133 |
|
|
Net Current Assets |
383.522
|
301.593 |
224.619 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.248 |
0.330 |
|
|
|
|
|
|
|
|
TOTAL |
557.552 |
419.630 |
301.639 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income /Turnover |
1320.067 |
1003.189 |
|
|
|
|
Other Operating Income (Including exchange fluctuation) |
6.541 |
16.659 |
|
|
|
|
Other Income |
7.197 |
11.812 |
|
|
|
|
TOTAL (A) |
1333.805 |
1031.660 |
791.038 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
118.835 |
910.332 |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1189.835 |
910.332 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
143.970 |
121.328 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
38.882 |
19.715 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
105.088 |
101.613 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.206 |
6.675 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
94.888 |
94.938 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
26.445 |
24.699 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
68.443 |
70.239 |
56.208 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
441.143 |
446.987 |
129.949 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
683.662 |
462.606 |
638.847 |
|
|
TOTAL IMPORTS |
683.662 |
1146.268 |
638.847 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
61.00 |
70.00 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.13 |
6.81 |
7.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.19 |
9.46 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.41 |
14.80 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.57 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.96 |
2.90 |
3.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
2.28 |
2.34 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FINANCIAL RESULTS
The company has achieved a total turnover of Rs 1320.067 Millions during the financial year ended 31st March 2011 as against Rs 1003.189 Millions in the previous financial year. The total turnover grew year on year by 32% in the current year. The company has earned a net profit (after depreciation and tax) of Rs. 68.443 Millions in the current year as against Rs 70.239 Millions in the previous year. A sum of Rs. 13.688 Millions has been transferred to General Reserve.
Gross margin for the current year grew from 24.64% to 28.05%. In absolute value, gross margins are Rs.370.328 Millions as against Rs.247.229 Millions in the previous year.
Operating and other expenses increased from Rs.154.372 Millions in FY 2009-10 to 240,090,070 in FY 2010-11. Cost as a % to sales is at 18.19% in FY 2010-11 as against 15.39% in FY 2009-10. The increase in operating and other expenses is mainly because of increase in write off and provisions in receivables and loans and advances. Receivables and loans and advances write off and provisions increased from Rs.6.590 Millions in FY 2009-10 to Rs.31.899 Millions in FY 2010-11.
Finance Cost increased from Rs.19.715 Millions in FY 2009-10 to Rs.38.882 Millions in FY 2010-11. Finance cost mainly represents interest on borrowing for working capital and interest on Term loan for long term investment in fixed assets. Finance cost increase is mainly because of increase in the interest rate in the current financial year.
Profit after tax for the year 2010-11 is Rs.68.443 Millions as against Rs 70.239 Millions in 2009-10. Basic EPS for the year 2010-11 is Rs.61/- as against Rs.70/- in 2009-10. EPS for the current year is based on the enhanced share capital after issue of bonus shares.
contingent liabilities
|
Particulars |
As on 31.03.2011 Rs. in Millions |
As on 31.03.2010 Rs. in Millions |
|
Bank Guarantee / Letter of Credit for purchase of
materials |
12.164 |
5.750 |
|
Income Tax |
0.506 |
0.000 |
|
Bill Discounting |
82.789 |
0.000 |
form 8
|
Corporate identity number of the company |
U29128KA2008PTC045825 |
|
Name of the company |
Kaynes Technology India Private Limited |
|
Address of the registered office or of the principal place of business in |
23-25, Belagola, Food Industrial Estate, Metalgalli P O, Mysore – 570
016, Karnataka, India E-Mail Id : ramesh-kannan@kaynestechnology.net
|
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10143013 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
Canara Bank, No. 6, Temple Road, Jayalakshmipuram, Mysore – 570 012, Karnataka, India E-mail Id : cb0566@canarabank.com
|
|
Nature of instrument creating charge |
Supplemental Common Hypothecation Agreement |
|
Date of instrument Creating the charge |
10.09.2012 |
|
Amount secured by the charge |
Rs.45.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest As may be prescribed by bank from time to time Terms of repayment As applicable to the respective credit limits Margin As per sanction terms of the bank. Extent and operation of the charge The charge shall operate to the extent of entire loan amount plus
interests costs expenses commissions and other charges thereon. Others The said amount of Rs.350.500 Millions comprises OCC Rs.180.000
Millions, BG Rs.20.000 Millions, PC Rs.60.000 Millions, FDB Rs.40.000
Millions, ILC/FLC Rs.30.000 Millions TL 1 Rs.0.800 Millions TL 2 Rs.0.70
Millions TL 3 Rs.19.000 Millions |
|
Short particulars of the property charged (Including location of the
property) |
First charge by way of hypothecation on the stocks including raw
materials, work in progress, finished goods viz electronic goods and hardware
and book debts and plant, machinery, vehicles and other movables both present
and future stored/ installed at company premises 23-25, Belagola, Food
Industrial Estate, Metagalli P O, Mysore, Karnataka 570016 or at any other
place. |
|
Date of
instrument modifying the charge |
08.09.2012 |
|
Particulars of
the present modification |
By the amount secured by charge on raw materials, Work in Progress,
Semi- Finished goods, Finished goods and Book debts, plant, Machineries,
vehicles and other movables present and future shall cover the present
modified amount of Rs.350.500 Millions
(all other terms and conditions remain unchanged). |
Fixed Assets
· Land
·
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Electrical Fittings
· Computers and Software
· Motor Vehicles
· Air Conditioner
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.54.20 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.