MIRA
INFORM REPORT
|
Report Date : |
17.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
KRISHNA SHEET PROCESSORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
801, Business Classic, Chincholi Bunder Road, Off S. V. Road, Malad
(West), Mumbai-400064, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
10.04.1995 |
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|
|
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Com. Reg. No.: |
11-087327 |
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Capital
Investment / Paid-up Capital : |
Rs. 31.220 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1995PTC087327 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK13053F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK9040M |
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|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Dealer and Importer of Esser Steel and all
M. S. steels Products |
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|
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|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1800000 |
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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 a well 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. Rohit Gupta |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9322220809 |
|
Date : |
14.02.2012 |
LOCATIONS
|
Registered Office : |
801, Business Classic, Chincholi Bunder Road, Off S. V. Road, Malad
(West), Mumbai-400064, Maharashtra, India |
|
Tel. No.: |
91-22-23453411 / 23453412 / 23411729 / 28774746 |
|
Mobile No.: |
91-9322220809 (Mr. Rohit Gupta) |
|
Fax No.: |
91-22-23411739 |
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E-Mail : |
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|
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Warehouse : |
C-26, MIDC, Taloja, Navi
Mumbai, India |
DIRECTORS
AS ON 22.09.2011
|
Name : |
Mr. Kapilkumar Rupchand
Agarwal |
|
Designation : |
Director |
|
Address : |
E-403, Pleasant Park, Plot No.60, Link Road, Opposite Movie Time Theater,
Malad (West), Mumbai-400084, Maharashtra,
India |
|
Date of Birth/Age : |
20.09.1964 |
|
Date of Appointment : |
10.04.1995 |
|
DIN No.: |
00216944 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27100MH1995PTC087327 |
KRISHNA
SHEET PROCESSORS PRIVATE LIMITED |
Director |
10-04-95 |
10-04-95 |
Active |
NO |
|
2 |
U27106GJ2007PTC050197 |
KRISHNA
COIL CUTTERS PRIVATE LIMITED |
Director |
13-03-07 |
13-03-07 |
Active |
NO |
|
Name : |
Mr. Dharampal Rameshwar
Dass Gupta |
|
Designation : |
Director |
|
Address : |
Row House No.13, Village Naupada Junction Of
LBS Marg, Eastern Highway, Thane-400602, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1948 |
|
Date of Appointment : |
10.04.1995 |
|
DIN No.: |
00216983 |
|
|
|
|
Name : |
Mr. Biharisaran Babulal
Khandelwa |
|
Designation : |
Director |
|
Address : |
A 602, Millenium Garden, Upper Govind Nagar, Malad (East), Mumbai-400097, Maharashtra,
India |
|
Date of Birth/Age : |
20.10.1947 |
|
Date of Appointment : |
10.04.1995 |
|
DIN No.: |
00217021 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27100MH1995PTC087327 |
KRISHNA
SHEET PROCESSORS PRIVATE LIMITED |
Director |
10-04-95 |
10-04-95 |
Active |
NO |
|
2 |
U92199MP1998PTC012615 |
ROYAL
AMUSEMENT PRIVATE LIMITED |
Director |
19-02-01 |
19-02-01 |
Dormant |
NO |
|
3 |
U27106GJ2007PTC050197 |
KRISHNA
COIL CUTTERS PRIVATE LIMITED |
Director |
13-03-07 |
13-03-07 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Rohit Gupta |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2011
|
Names of Shareholders |
No. of Shares |
|
Biharisaran Khandelwal |
19300 |
|
Biharisaran Khandelwal
(HUF) |
7000 |
|
Shashikala B Khandelwal |
35250 |
|
Sheenu Khandelwal |
31500 |
|
Vikram Khandelwal |
11000 |
|
Kapil Kumar Agarwal |
27000 |
|
Bindu K Agarwal |
47550 |
|
Dharampal R Gupta |
3800 |
|
Rajendrakumar Singhal |
100 |
|
Rohit D. Gupta |
23000 |
|
Premier Soya Limited, India |
23495 |
|
Indo Con Core Private Limited, India |
11830 |
|
Smita R Gupta |
4100 |
|
Sudha D Gupta |
300 |
|
Krishna Coil Cutter Private Limited |
66975 |
|
Total |
312200 |
AS ON 22.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
32.77 |
|
Directors or relatives of Directors |
67.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Importer of Esser Steel and all
M. S. steels Products |
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Imports : |
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Countries : |
·
China ·
UK ·
Crane |
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Terms : |
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Selling : |
L/C and Advance |
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Purchasing : |
L/C and Advance |
GENERAL INFORMATION
|
Customers : |
Auto Mobiles |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
·
Bank of Baroda, Malad
West Branch, Shantinath Shopping Centre, 1st
Floor, S. V. Road, Malad (West), Mumbai-400064, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Thakkar and Somaiya Chartered Accountant |
|
Address : |
101-A/102-B, Giriraj 1st Floor, Sant Tukaram Road,
Mumbai-400009, Maharashtra, India |
|
Pan No.: |
AAAFT1285G |
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|
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Sister Concern : |
Krishna Coil Cutter, Ahmedabad |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
312200 |
Equity Shares |
Rs.100/-
each |
Rs. 31.220
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 |
31.220 |
31.220 |
29.520 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
436.892 |
380.013 |
321.774 |
|
|
4] (Accumulated Losses) |
0.000 |
0.0000 |
0.000 |
|
|
NETWORTH |
468.112 |
411.233 |
351.294 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
111.279 |
128.428 |
45.038 |
|
|
2] Unsecured Loans |
15.088 |
15.394 |
0.000 |
|
|
TOTAL BORROWING |
126.367 |
143.822 |
45.038 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
594.479 |
555.055 |
396.332 |
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|
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|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
48.466 |
40.576 |
37.109 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
22.630 |
12.460 |
13.156 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
234.639
|
476.038 |
134.036 |
|
|
Sundry Debtors |
405.783
|
202.415 |
201.652 |
|
|
Cash & Bank Balances |
112.710
|
114.029 |
181.365 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
309.275
|
133.913 |
94.410 |
|
Total
Current Assets |
1062.407
|
926.395 |
611.463 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
250.377 |
45.549 |
99.816 |
|
|
Other Current Liabilities |
261.147
|
406.376 |
132.080 |
|
|
Provisions |
27.500
|
18.000 |
33.500 |
|
Total
Current Liabilities |
539.024
|
424.376 |
265.396 |
|
|
Net Current Assets |
523.383
|
502.019 |
346.067 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
594.479 |
555.055 |
396.332 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2683.787 |
2029.960 |
2057.520 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
2597.470 |
|
1956.049 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2597.470 |
1969.001 |
1956.049 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
86.317 |
60.959 |
101.471 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1.957 |
1.809 |
1.706 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
84.360 |
59.150 |
99.765 |
|
|
|
|
|
|
|
|
|
|
TAX |
27.480 |
17.911 |
33.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
56.880 |
41.813 |
66.055 |
|
|
|
|
|
|
|
|
|
|
TRANSFER
TO GENERAL RESERVE |
57.500 |
40.000 |
66.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
37.985 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
182.19 |
133.93 |
223.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.12
|
2.06 |
3.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.59
|
6.12 |
15.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.14 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.42
|
1.38 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.97
|
2.18 |
2.30 |
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 |
No |
|
13. Reasons for variation <> 20% |
------ |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
No |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
no |
|
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 |
------ |
SUNDRY CREDITORS
DETAILS
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
250.377 |
45.549 |
99.816 |
NOTE
Registered office has been shifted from the Village Sapgaon
Post Office Khutghar Taluka
Shahpur, Thane-421601, Maharashtra,
India w.e.f.01.04.2008.
OPERATIONS
During the year,
the company has been able to achieve Sales and Other Income of Rs. 2683.800 Millions and Increased by 32.21% as compared
to the Previous Year to Rs. 84.360 Millions. In
current year representing upward trend by 43% due to the Administrative and
Other Expenses have also been controlled by cost effective measure as compared
to the previous year which has affected to the Current Year’s performance of
the company.
However the
margins have been decreased marginally due to increased in Volume of Turnover
in the Current Year as compared to the previous year. The performance of the
company even though is quiet good. The directors are however confident and
capable as well to maintain the status quo as long as their consistent efforts
to up lift the efficiencies in all the segments of its operation in the
prevailing circumstances of market in India as well as International Market.
FUTURE OUTLOOK
The economy has
been passing through slow down particularly in automobiles, construction and
infrastructures in view of lack of fund with Governmental Authorities. However,
your directors feel that this scenario would not last too long and rays of
hopes cannot be ruled out. As a protective approach, the directors are finding
new avenues and opportunities to strengthen the working of the company.
FORM 8
|
Corporate
identity number of the company |
U27100MH1995PTC087327 |
|
Name of the
company |
KRISHNA SHEET
PROCESSORS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
801, Business Classic, Chincholi Bunder Road, Off S. V. Road, Malad (West), Mumbai-400064, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property (not
being pledge) |
|
Particular of
charge holder |
Bank of Baroda, Malad West Branch, Shantinath Shopping Centre, 1st Floor, S. V. Road, Malad (West), Mumbai-400064, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental Composite
Agreement of Hypothecation of Goods, Book-Debts, Moveable Machinery and
Vehicles. |
|
Date of
instrument Creating the charge |
30.01.2010 |
|
Amount secured by
the charge |
Rs. 600.000 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest on the
Cash Credit limit at the rate of 1% below Prime Lending Rate of the Bank per
annum with monthly rests. Terms of repayment On Demand. Margin 25% on the
Stocks. 40% on the Book
Debts. 20% cash margin
in respect of Letter of Credit facility. Extent and operation of the charge The charge is
modified to secure Cash Credit (Stock and Book Debts) - Rs.200.000 Millions,
Inland/Import LC (DP/DA 120 days) - Rs.400.000 Millions, aggregating to
Rs.600.000 Millions together with interest, additional interest, further
interest by way of liquidated damages, compound interest, commitment charges,
commission, Premia on pre-payment, cost, charges,
expenses and other moneys payable by the Borrower to the Bank. |
|
Short particulars
of the property charged (Including location of the property) |
All the
Borrower's stocks of RMs, SIP, FGs,
consumable spares and packing materials. All the book-debts
in respect of supplies made to various Govt. Departments or limited companies
etc. as evidenced by supply bills, receipted challans
/ receipited invoices deposited with the bank. All the moveable
machinery of the Borrower, including all stores and spare parts, both present
and future belonging to the Borrower and all the vehicles. |
|
Charge
identification number of the charge to be modified |
90152278 |
|
Date of
instrument modifying the charge |
11.09.2008 |
|
Particulars of the
present modification |
The charge is
increased up to Rs.600.000 Millions to cover Cash Credit (Stock and Book
Debts) - Rs.200.000 Millions (Review), Inland/Import LC (DP/DA 120 days) -
Rs.400.000 Millions (increased from Rs.100.000 Millions). The charge is
shifted from Prabhadevi Branch, Mumbai to Malad (West) Branch, Mumbai. |
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Office Equipments
·
Computer
·
Furniture and Fixtures
·
Vehicles
·
Motor Car
·
Computer Software
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. 49.25 |
|
|
1 |
Rs. 77.45 |
|
Euro |
1 |
Rs. 64.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
48 |
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.