MIRA
INFORM REPORT
|
Report Date : |
11.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
CORE APPLIANCES PRIVATE LIMITED |
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Registered
Office : |
905, Plot No.D-9, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
12.03.2010 |
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Com. Reg. No.: |
55-200019 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U29308DL2010PTC200019 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELC11570G |
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PAN No.: [Permanent Account No.] |
AADCC8960F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Home Appliances, Cooker, Toaster. |
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No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 200 |
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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company establishing itself gradually.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings with some caution.
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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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sulabh |
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Designation : |
Deputy General Manager |
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Contact No.: |
91-8800694949 |
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Date : |
06.02.2012 |
LOCATIONS
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Registered/ Head Office : |
905, Plot No.D-9, |
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Tel. No.: |
91-11-45305555/ 23696909 |
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Mobile No.: |
91-8800694949 (Mr. Sulabh) |
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Fax No.: |
91-11-45305566 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Located at: v
Parwanoo, Himachal Pradesh v
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DIRECTORS
As on 30.09.2011
|
Name : |
Mrs. Poonam Gambhir |
|
Designation : |
Director |
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Address : |
BH – 90 (East), Shalimar Bagh, |
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Date of Birth/Age : |
21.07.1978 |
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Date of Appointment : |
12.03.2010 |
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DIN No.: |
02955558 |
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Name : |
Mr. Narayan Dass Bansal |
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Designation : |
Director |
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Address : |
1A/1B, Ashok Vihar, |
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Date of Birth/Age : |
07.07.1942 |
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Date of Appointment : |
12.03.2010 |
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DIN No.: |
02955555 |
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Name : |
Mr. Vijay Kumar Sharma |
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Designation : |
Director |
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Address : |
99, BL-Block (West), Shalimar Bagh, |
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Date of Birth/Age : |
18.06.1946 |
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Date of Appointment : |
12.03.2010 |
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DIN No.: |
02955539 |
KEY EXECUTIVES
|
Name : |
Mr. Sulabh |
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Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
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No. of Shares |
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Poonam Gambhir |
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3300 |
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Narayan Dass Bansal |
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3400 |
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Vijay Kumar Sharma |
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3300 |
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Total |
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10000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Home Appliances, Cooker, Toaster. |
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Products : |
v
Cooktops v
Cooker Hoods v
Hobs v
Coking Range v
MG v
JMG v
Induction Cooker v
Rice Cooker v
Pressure Cooker v
Muffins Makers v
Pop Up Toaster v
v
Irons v
Utensils |
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Brand Names : |
KAPLI |
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Exports : |
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Products : |
Home Appliances Products |
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Countries : |
v
v
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
31.03.2011 |
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Licensed Capacity |
N.A. |
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Installed Capacity |
1800 M.T. |
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Actual Production |
717 |
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GENERAL INFORMATION
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Suppliers : |
v Jindal v Century
Enterprises v Deepak
Enterprises v Hi-Tech
Appliances v Mamta Steels v v Shiv Shakti
Packaging v Sita Devi Home
Appliances v True Line
Appliances (Private) Limited v Deo Marketing
and Agencies ,Kerala v Kitchen Aid v Apex Appliances v Shanti Hardware v T.S Computers, v Sunfly Appliances v Balaji Die
Casting , v Parteek Print
and |
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Customers : |
Wholesalers and Retailers v Central Police Canteen v
Dawar International
Electronics Private Limited v
Green Line Appliances v
Prabhat Trade Link v
Shukla LPG Appliances v
S.K Enterprises v
3d International v
Entire Clothing v
Mahavir Enterprises ( v
Shrl Mahavir Associates v
GSC Glass Limited v
Annpoorna Industries v
Diamond Electronics |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
v
State Bank of v
ICICI Bank v
HDFC
Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
T.K. Agarwalla and Company Chartered Accountants |
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Address : |
E-207, |
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PAN No.: |
AAEFT4578N |
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Associates/Subsidiaries : |
Sunfly Appliances |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2011 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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(0.050) |
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NETWORTH |
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0.050 |
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LOAN FUNDS |
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1] Secured Loans |
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0.637 |
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2] Unsecured Loans |
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13.030 |
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TOTAL BORROWING |
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13.667 |
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DEFERRED TAX LIABILITIES |
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0.038 |
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TOTAL |
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13.755 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.210 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERRED TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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16.360 |
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Sundry Debtors |
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9.566 |
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Cash & Bank Balances |
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|
0.154 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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|
5.270 |
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Total
Current Assets |
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31.350 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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16.556 |
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Other Current Liabilities |
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2.251 |
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Provisions |
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|
0.030 |
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Total
Current Liabilities |
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18.837 |
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Net Current Assets |
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12.513 |
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MISCELLANEOUS EXPENSES |
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0.032 |
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TOTAL |
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13.755 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2011 |
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SALES |
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Income |
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29.299 |
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Other Income |
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|
0.000 |
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TOTAL |
|
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29.299 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
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29.159 |
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PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.140 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
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0.152 |
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PROFIT/ (LOSS)
BEFORE TAX |
|
|
(0.012) |
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Less |
TAX |
|
|
0.038 |
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PROFIT/ (LOSS)
AFTER TAX |
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(0.050) |
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Earnings/ (Loss)
Per Share (Rs.) |
|
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(5.00) |
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KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
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(0.17) |
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Net Profit Margin (PBT/Sales) |
(%) |
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(0.04) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(0.04) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.24) |
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Debt Equity Ratio (Total Liability/Networth) |
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650.08 |
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Current Ratio (Current Asset/Current Liability) |
|
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|
1.66 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of
Establishment |
Yes |
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2) Locality of
the firm |
Yes |
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3) Constitutions
of the firm |
Yes |
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4) Premises
details |
Yes |
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5) Type of
Business |
Yes |
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6) Line of
Business |
Yes |
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7) Promoter’s
background |
-- |
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8) No. of
employees |
Yes |
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9) Name of person
contacted |
Yes |
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10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last three years |
No |
|
12) Profitability
for last three years |
-- |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
No |
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15) Capital in
the business |
No |
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16) Details of
sister concerns |
Yes |
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17) Major
suppliers |
Yes |
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18) Major
customers |
Yes |
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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 |
-- |
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25) Conduct of
the banking account |
-- |
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26) Buyer visit
details |
-- |
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27) Financials,
if provided |
No |
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28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
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30) Major
Shareholders, if available |
-- |
FUTURE OUTLOOK:
Barring unforeseen circumstances the company is looking forward to
expand the business activities, board base the marketing network to increase
the turnover and hence the business of the company.
TRADE REFERENCES:
v Central Police Canteen
v Jindal
FIXED ASSETS:
v Computer
v Electrical Installation
v Plant and Machinery
v Furniture
v Printer
v Air Conditioner
v
v Coffee Machine
v Car (Swift DL8CW 1304)
v Computer H/W and S/W
WEBSITE DETAILS:
PROFILE:
Subject, was founded by a group of professionals who are dedicated
and experienced in the field of Steel Rolling, Plastic Moulding and Gas
Appliances. They believe in people and communication, which multiplies
knowledge, optimises capacity and generates enthusiasm and passion. Obessed by
determined pursuit for perfection and innovation and their quest for quality
and customer satisfaction has resulted in the creation of brand 'Kapli'. They
are a team of energetic and enthusiastic professionals, maintaining high
ethical standards and committed to provide world - class service to trade and
consumers. Their core proficiency and motive is to provide High Quality and
Innovative products at most competitive price.
Since their inception, a strong customer focus has been the guiding force for them. This focus has been the main inspiration behind their reputation as an innovative and quality conscious company. From ordinary two burner gas stoves to more than 30 models of Gas Stoves, Cooking Ranges, Cooker Hoods, Hobs, Mixer Grinders, JMG, Toasters and Electric Irons etc.
They have two manufacturing Plants at
They understand that to maintain a competitive edge in the market, quality must be nurtured with passion and zeal and provide high-class products at the most competitive price. Thus making "Kapli" a much wanted brand.
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.49.64 |
|
|
1 |
Rs.78.35 |
|
Euro |
1 |
Rs.65.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.