x
|
Report Date : |
16.02.2012 |
|
|
|
|
Tel. No.: |
91-22-24445809 |
|
Fax No.: |
91-22-24445609 |
IDENTIFICATION DETAILS
|
Name : |
KGB ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Madhuban, 1st Floor, P D Hinduja Marg, Khar West, Mumbai
– 400052, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-152949 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.590
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28900MH2005PTC152949 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Petroleum and Specialty Oils, Cutting Tools, and Industrial
Compounds. |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5500 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. However trade relations are reported as fair. Business is active.
Payments are reported to be 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Ghanshyam |
|
Designation : |
Managing Director |
|
Contact No.: |
91-22-24445809 |
|
Date : |
14.02.2012 |
LOCATIONS
|
Registered Office : |
2, Madhuban, 1st Floor, P D Hinduja Marg, Khar West, Mumbai
– 400052, Maharashtra, India |
|
Tel. No.: |
91-22-26485752 |
|
Fax No.: |
91-22-26485752 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
No.126, Hammersmith Industrial Estate, Premises, Co-operative Society
Limited, Off Sitladevi Temple Road, Mahim West, Mumbai – 400016, Maharashtra.
India |
|
Tel. No.: |
91-22-24445809 |
|
Fax No.: |
91-22-24445609 |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Ghanshyam Menghraj Bhambhvani |
|
Designation : |
Director |
|
Address : |
302, Morumal Mansion, 10th Road, Khar, Mumbai – 400052,
Maharashtra, India |
|
Date of Birth/Age : |
20.08.1941 |
|
Date of Appointment : |
02.05.2005 |
|
DIN No.: |
01004463 |
|
|
|
|
Name : |
Mr. Kishore Ghanshyam Bhambhvani |
|
Designation : |
Director |
|
Address : |
302, Morumal Mansion, 3rd Floor, Plot No.213, 10th
Road, Khar (West), Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
30.03.1974 |
|
Date of Appointment : |
02.05.2005 |
|
DIN No.: |
01083534 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ghanshyam Menghraj Bhambhvani |
|
29500 |
|
Kishore Ghanshyam Bhambhvani |
|
29500 |
|
|
|
|
|
Total |
|
59000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Petroleum and Specialty Oils, Cutting Tools, and Industrial
Compounds. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Bharat Asbestos and Rubber Company · Kansai Nerolac · D. N. Enterprises · Noble Gasket and Engg · Moludual Gmbh · Pooja Enterprises · Savita Chemicals Limited (Savita Oil Tech Limited) · Seco Tools (India) Private Limited · Valency Compunds Services · S.K. Agency |
|
|
|
|
Customers : |
End Users · Ajanta Paper and General Products · Asiatic Enterprises · Bhushan Steel · Deflon International Traders[Advance Received] · Electromatic Industries · Formac Engineers Limited · Gala Precision Technologies Limited · Hilton Metal Forging Private Limited · Hindalco Inds Limited · Hydril Jindal Intl Private Limited · Indryani Construction Company · Hindustan Construction Company · Indage Develpoment Const Private Limited · Jsw Steel Limited · Lakshya Enterprises · Liberty Oil Mills · K. G. Engg Company · K.K. Borthers · Krupa Chaton Manufacturing Company Private Limited · Maharashtra Seamless Limited · Microtech Products Private Limited · Maruti Petro Chem · Mukund Limited · Mural Buldozing Private Limited · Ochharlal Chotalal and Company · Omprakash Engg · Oricon Enterprises · Orinetal Containers Limited · Palanpur Engg and Fab Limited · Piramal Healthcare Limited · Pretech Corporation · Plus Paper Food Prods Limited · Prithipal Enterprises · R.K. Sales Corporation · Rahul Agencies · Reliable Industrial Services · Selram Earth Movers · Shree Bhagwati Enterprises · Shree Ganesh Enterprises |
|
|
|
|
No. of Employees : |
35 (Approximately) |
|
|
|
|
Bankers : |
· Karnataka Bank Rose Manor Garden School, Central Avenue, Santacruz (West), Mumbai –
400054, Maharashtra, India · Canara Bank · ICICI Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Kothari and Associates Chartered Accountant |
|
Address : |
D-9/ 206, Yogi Nagar, Borivali (West), Mumbai – 400091, Maharashtra, India
|
|
Tel No.: |
91-22-28984933/ 28984955 |
|
Mobile No.: |
91-9869040341 |
|
PAN No.: |
AAAFJ6276H |
|
Email : |
|
|
|
|
|
Membership : |
Federation of Indian Export Organizations. |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
59000 |
Equity Share |
Rs.10/- each |
Rs.0.590
Million |
|
|
|
|
|
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 |
0.590 |
0.590 |
0.980 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.795 |
0.719 |
0.227 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.385 |
1.309 |
1.207 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2.036 |
1.916 |
1.924 |
|
|
TOTAL BORROWING |
2.036 |
1.916 |
1.924 |
|
|
DEFERRED TAX LIABILITIES |
0.001 |
0.018 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
3.422 |
3.243 |
3.136 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.451 |
0.593 |
0.658 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.926
|
1.411 |
1.259 |
|
|
Sundry Debtors |
1.811
|
1.972 |
3.139 |
|
|
Cash & Bank Balances |
0.072
|
0.186 |
0.079 |
|
|
Other Current Assets |
0.101
|
0.143 |
0.163 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
3.910
|
3.712 |
4.640 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.664
|
0.782 |
1.620 |
|
|
Other Current Liabilities |
0.065
|
0.065 |
0.065 |
|
|
Provisions |
0.223
|
0.230 |
0.495 |
|
Total
Current Liabilities |
0.952
|
1.077 |
2.180 |
|
|
Net Current Assets |
2.958
|
2.635 |
2.460 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.013 |
0.015 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
3.422 |
3.243 |
3.136 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover/ Other Income |
6.831 |
9.141 |
12.606 |
|
|
|
TOTAL (A) |
6.831 |
9.141 |
12.606 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
6.275 |
8.657 |
12.164 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.556 |
0.484 |
0.442 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.331 |
0.257 |
0.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.225 |
0.227 |
0.216 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.165 |
0.107 |
0.082 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.060 |
0.120 |
0.134 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.015) |
0.019 |
0.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.075 |
0.101 |
0.078 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.28 |
1.72 |
3.95 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
1.10
|
1.10 |
0.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.38
|
2.79 |
2.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.09 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.16
|
2.29 |
3.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.11
|
3.45 |
2.13 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
----- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
No |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
No |
|
Estimation for coming financial year |
No |
|
Capital in the business |
No |
|
Details of sister concerns |
----- |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
----- |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
No |
|
Incorporation details is applicable |
----- |
|
Last Accounts filed at ROC |
----- |
|
Major Shareholders, if available |
----- |
REVIEW OF OPERATIONS
The turnover of the company has decreased by
24.36% as compared to previous year, due to overall sluggishness in the
industry. The company has earned profit before tax of Rs.0.060 Million as
compared to Rs.0.121 Million earned during the previous year. The management of
the company is hopeful to do better in the future.
FORM 8:
|
Corporate
identity number of the company |
U28900MH2005PTC152949 |
|
Name of the
company |
KGB ENGINEERING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
2, Madhuban, 1st floor, P d Hinduja Marg, Khar West, Mumbai
– 400052, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property Others: Surgical
Items and Health Care Products. |
|
Particular of
charge holder |
· Karnataka Bank Rose Manor Garden School, Central Avenue, Santacruz (West), Mumbai –
400054, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
16.07.2011 |
|
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 Not Applicable Terms of
Repayment Import LC (DP/DA)
L On Presentation, Usance – on Maturity date. Margin Margin to be
maintained @ 20% (Cash Margin) or at such other rate as may be stipulated by
the Bank from time to time Extent and
Operation of the charge Security Created
in respect of Import LC (DP/DA) Others Commission for
Import LC (DP/DA) As per HO circular. |
|
Short particulars
of the property charged |
Surgical Items
and Other Health Care Products. |
FIXED ASSETS:
· Computer
· Furniture and Fixture
· Car
· LCD TV
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.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.84 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.