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Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
KIRAN ALUMINIUM ( |
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Registered
Office : |
229-A, 2nd Floor, Kewal Industrial Estate, Next to Big
Bazar, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.07.1995 |
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Com. Reg. No.: |
11-090682 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.500 Millions |
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CIN No.: [Company Identification
No.] |
U51900MH1995PTC090682 |
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IEC No.: |
0395037140 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMK05823G |
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PAN No.: [Permanent Account No.] |
AAACK2073L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Aluminium Ingots, Sheets, and Coils. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 280000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Girish |
|
Designation : |
Accountant |
|
Contact No.: |
91-9869021174 |
|
Date : |
13.02.2012 |
LOCATIONS
|
Registered Office : |
229-A, 2nd Floor, Kewal Industrial Estate, Next to Big Bazar,
Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India
|
|
Tel. No.: |
91-22-30406700/ 01/ 02/ 04/ 05/ 06/ 07/ 08/ 09 91-22-66120594 |
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Mobile No.: |
91-9869021174 (Mr.Girish) |
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Fax No.: |
91-22-30406703 |
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E-Mail : |
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Area : |
1500 Sq. Ft. |
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Location : |
Owned |
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Warehouse : |
Bhiwandi, |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Ramesh Amritlal Vakharia |
|
Designation : |
Director |
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Address : |
B-706, Chandanbala Apartments, |
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Date of Birth/Age : |
01.11.1948 |
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Qualification : |
Bachelor of Commerce |
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Date of Appointment : |
17.07.1995 |
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DIN No.: |
01291614 |
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PAN No.: |
AACPV8059-J |
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|
Name : |
Mr. Jatin Ramesh Vakharia |
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Designation : |
Director |
|
Address : |
B-706, Chandanbala Apartments, |
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Date of Birth/Age : |
31.08.1974 |
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Qualification : |
Bachelor of Commerce |
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Date of Appointment : |
28.07.1995 |
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DIN No.: |
00840600 |
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PAN No.: |
AABPV3642C |
KEY EXECUTIVES
|
Name : |
Mr. Girish |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Jatin R. Vakharia |
20000 |
|
Ramesh A. Vakharia |
30000 |
|
Virbala R. Vakharia |
115000 |
|
R.A. Vakharia HUF |
85000 |
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Total |
250000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Aluminium Ingots, Sheets, and Coils. |
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Products : |
Aluminium Extursions like : ·
Flat Bars ·
Round Rods ·
Square Rods ·
Hexagonal Rods ·
Angles ·
Channels ·
Round Tubes and many
more Customised Profiles |
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Agencies Held : |
·
Hindalco Industries Limited ·
ASMP GmbH |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
|
Suppliers : |
·
Sam Metal ·
Hindalgo Industries Limited ·
Shilpa Metal ·
Dev Alloys ·
Manaksia Limited ·
Shree Krishna Metal Corporation ·
Sha Tarachand Fojmal and Company ·
Shital Rumde ·
Sevantilal and Company ·
Kirtikumar Shah and Company ·
PMC Corporation ·
Rattan Impex ·
S. R. Trading Company |
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Customers : |
Wholesalers, Retailers and Manufacturer ·
Anchar Electricals Private Limited ·
Allied Industries ·
Adler Products ·
Abhay Products ·
R-Kad Consultants ·
Shri Sai Engineers ·
Vamshi Labs Limited ·
Matcon ·
M and M Industries ·
Pioneer Industries |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
Bank of ·
ICICI Bank Limited ·
The Greater Bombay Co-Operative Bank Limited,
Bhuleshwar Branch, 89, G.B.C.B. House, Mumbai – 400 002, ·
Citi Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
3i Infotech Trusteeship Services Limited, 3rd to 6th Floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai – 400 703, Maharashtra, India |
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Auditors : |
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Name : |
Kirit Kumar Shah and Company Chartered Accountants |
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Address : |
207, 2nd Floor, Majestic Shopping Centre, |
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Tel. No.: |
91-22-23814305 |
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Pan No.: |
AAHPS6009A |
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Associates/Subsidiaries : |
Kiran Metal
Corporation Legal Form: Partnership Firm Year of Establishment: 1969 Address: 229-A, 2nd Floor, Kewal Industrial Estate, Next to
Big Bazar, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013,
Maharashtra, India Line of Business: Trader and Importer of Aluminium Ingots, Sheets,
Coils, etc. |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
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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 |
|
|
|
|
|
1] Share Capital |
2.500 |
2.500 |
2.500 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
69.136 |
55.685 |
42.214 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
71.636 |
58.185 |
44.714 |
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|
LOAN FUNDS |
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|
|
1] Secured Loans |
0.000 |
6.400 |
0.000 |
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2] Unsecured Loans |
0.000 |
5.000 |
7.600 |
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TOTAL BORROWING |
0.000 |
11.400 |
7.600 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
71.636 |
69.585 |
52.314 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.192 |
9.868 |
9.955 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.100 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.465 |
0.339 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
21.942
|
18.579
|
15.549
|
|
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Sundry Debtors |
24.705
|
28.628
|
23.222
|
|
|
Cash & Bank Balances |
3.496
|
7.585
|
3.962
|
|
|
Other Current Assets |
3.552
|
1.009
|
1.131
|
|
|
Loans & Advances |
32.646
|
25.264
|
12.891
|
|
Total
Current Assets |
86.341
|
81.065 |
56.755 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.749
|
5.450 |
0.618 |
|
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Other Current Liabilities |
1.638
|
1.770
|
1.951
|
|
|
Provisions |
17.075
|
14.467
|
11.827
|
|
Total
Current Liabilities |
25.462
|
21.687 |
14.396 |
|
|
Net Current Assets |
60.879
|
59.378
|
42.359
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
71.636 |
69.585 |
52.314 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
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Sales |
257.263 |
208.285 |
217.059 |
|
|
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Discount |
1.306 |
0.409 |
2.336 |
|
|
|
Rent Income |
2.900 |
3.788 |
3.609 |
|
|
|
VAT and CST |
0.000 |
0.000 |
0.019 |
|
|
|
Special Additional Custom Duty Receivable |
2.530 |
0.791 |
0.637 |
|
|
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Insurance and Claim |
0.014 |
0.032 |
0.360 |
|
|
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Interest Received |
0.392 |
0.435 |
0.000 |
|
|
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TOTAL (A) |
264.405 |
213.740 |
224.020 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
233.617 |
184.165 |
205.477 |
|
|
|
VAT |
0.002 |
0.003 |
0.000 |
|
|
|
CENTRAL Sales Tax |
0.020 |
0.000 |
0.000 |
|
|
|
Service Tax |
0.034 |
0.000 |
0.007 |
|
|
|
Vatav kasar |
0.001 |
0.042 |
0.006 |
|
|
|
Donation |
0.000 |
1.901 |
0.125 |
|
|
|
Expenses on Soc and Eco Welfare (35AC) |
3.150 |
1.500 |
0.000 |
|
|
|
Administrative and Other Expenses |
7.635 |
5.116 |
4.598 |
|
|
|
Loss on sale of motor car |
0.000 |
0.123 |
0.073 |
|
|
|
TOTAL (B) |
244.459 |
192.850 |
210.286 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.946 |
20.890 |
13.734 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.189 |
0.314 |
1.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.757 |
20.576 |
12.291 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.703 |
0.660 |
0.695 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.054 |
19.916 |
11.596 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.104 |
6.661 |
3.845 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12.950 |
13.255 |
7.751 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
55.685 |
42.214 |
34.899 |
|
|
|
|
|
|
|
|
|
Add |
Excess
Provision for Taxation of Earlier Year |
|
|
|
|
|
|
(A.
Y.2007-2008) |
-- |
0.216 |
-- |
|
|
|
(A.
Y.2008-09) |
0.501 |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
Short Provision
for Taxation of Earlier Year |
|
|
|
|
|
|
IT Tax Asst Due (F.Y. 2004-05) |
-- |
-- |
0.416 |
|
|
|
IT Tax Asst Due (F.Y. 2005-06) |
-- |
-- |
0.020 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
69.136 |
55.685 |
42.214 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
51.80 |
53.02 |
31.00 |
|
Expected Sales (2011-2012) : Rs. 360.000 Millions
The above information has been parted by Mr. Girish.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.90
|
6.20 |
3.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.41
|
9.56 |
5.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.85
|
21.90 |
17.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.34 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.36
|
0.57 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.39
|
3.74 |
3.94 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
------ |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
No |
|
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 |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Sundry Creditors
for Goods |
6.527 |
5.235 |
0.491 |
|
Sundry Creditors
for Expenses |
0.222 |
0.215 |
0.127 |
|
Total |
6.749 |
5.450 |
0.618 |
DETAILS OF SUNDRY CREDITORS: (PARTIAL
DETAILS)
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors for Goods |
|
|
|
|
- Alco Metal Extrusions
Limited |
-- |
0.043 |
-- |
|
- Alco Metal and
Traders |
-- |
0.050 |
-- |
|
- Bhagyodaya
Aluminium Private Limited |
-- |
-- |
0.336 |
|
- Kiran Metal
Corporation |
5.213 |
3.105 |
-- |
|
- Manaksia
Limited (Nashik) |
-- |
1.158 |
-- |
|
- Manaksia
Limited (EOU-R.Mill. Haldi) |
-- |
0.501 |
-- |
|
- PMC Corporation
|
0.029 |
0.105 |
-- |
|
- Shilpa Metals |
-- |
-- |
0.155 |
|
Sundry Creditors for Expenses |
|
|
|
|
- Kiritkumar Shah
and Company (Audit and Legal Fees) |
0.083 |
0.098 |
0.063 |
|
- Shah and
Company |
-- |
-- |
0.003 |
|
- Sevantilal and
Company |
0.020 |
0.017 |
0.017 |
|
- Ashok Ghokhale |
0.007 |
0.006 |
0.010 |
|
- ICICI Credit
Card |
0.011 |
0.008 |
0.002 |
CHANGE OF ADDRESS:
The registered office address was changed from
FORM 8
|
Corporate
identity number of the company |
U51900MH1995PTC090682 |
|
Name of the
company |
KIRAN ALUMINIUM ( |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
CITIBANK N. A.,
Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra
(East), Mumbai-400051, |
|
Nature of
instrument creating charge |
Goods Security
Agreement Cum Loan Agreement for Hypothecation of Stocks, Book Debts and for
property mortgage. |
|
Date of
instrument Creating the charge |
07.03.2011 |
|
Amount secured by
the charge |
Rs. 30.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at may
be stipulated by the bank from time to time. Terms of repayment On demand Margin 20% against
Stocks and Book Debts and Property Extent and operation of the charge The hypothecated
Assets by way of first charge shall remain as security to the Bank for the
due repayment by Borrower to the Bank of the credit facilities together with
interest, costs, charges and expenses and other monies payable by the
Borrowers and also for due payment and discharge of all
indebtedness/liability of the Borrowers to the Bank. The Company
further agree to create first charge on Immovable Properties of the Company
situated at Thane. Other The Company expressly recognizes and accepts that the
Bank shall be absolutely entitled and have full power/authority to sell,
assign or transfer in any manner and on such terms as the Bank may decide any
or all outstanding dues of the Company to any third party of the Bank’s
choice without any further reference or intimation to the Company. |
|
Short particulars
of the property charged (Including location of the property) |
The whole of the
Company's present and future, stocks of raw materials, goods in process of manufacture,
semi-finished goods and all finished and manufactured goods and All of the
Company's present and future book debts, outstanding Monies, receivables,
claims, bills, investments, rights to or on moveable properties and moveable
assets |
TRADE REFERENCES:
·
Hindalgo Industries
Limited
·
Anchor Electricals
Private Limited
FIXED ASSETS:
·
Property at Bhiwandi
·
Furniture and Fixture
·
Optra Car
·
Maruti Omni
·
Mobile Phone
·
Fax Machine and
·
Electric Weight Scale
·
Scooter
·
Laptop
·
Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 49.33 |
|
|
1 |
Rs. 77.41 |
|
Euro |
1 |
Rs. 64.83 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
|
49 |
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.