MIRA
INFORM REPORT
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Report Date : |
03.01.2012 |
IDENTIFICATION DETAILS
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Name : |
KAMAL TIMBERS PRIVATE LIMITED |
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Registered
Office : |
Khasra No. 73/6, Gali No. 1, Assam Timber Market, Swarn Park, Mundka
Nangloi, Delhi – 110041 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.03.2005 |
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Com. Reg. No.: |
134421 |
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Paid up Capital
: |
Rs. 0.600 Million |
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CIN No.: [Company Identification
No.] |
U15431DL2005PTC134421 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELK0574A |
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PAN No.: [Permanent Account No.] |
AACCK5697E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of wood and wooden Products |
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No. of Employees
: |
50 (approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 46340 |
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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 concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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
|
Name : |
Mr. Vikas |
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Designation : |
Accounts Manager |
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Contact No.: |
91-129-4059030 |
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Date : |
26.12.2011 |
LOCATIONS
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Registered Office : |
Khasra No. 73/6, Gali No. 1, Assam Timber Market, Swarn Park, Mundka
Nangloi, Delhi – 110041, India |
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E-Mail : |
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Area : |
500sq.fts |
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Location : |
Rented |
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Head Office : |
2K/46 C BP, NIT, Opp. FCI Godown, |
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Tel. No.: |
91-129-4059030 |
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Fax No.: |
91-129-2419030 |
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Area : |
2000sq.fts |
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Location : |
Owned |
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Factory 1 : |
Kandala Gandhidam, |
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Area : |
2000sq.mtrs |
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Location : |
Owned |
DIRECTORS
As on 30.06.2011
|
Name : |
Mr. Kamal Chawla |
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Designation : |
Director |
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Address : |
5A-2, B P NIT, |
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Qualification : |
Electrical Engineering |
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Date of Appointment : |
28.03.2005 |
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Name : |
Mrs. Alka Chawla |
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Designation : |
Director |
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Address : |
5A-2, B P NIT, |
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Date of Birth/Age : |
B.com |
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Date of Appointment : |
28.03.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
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Names of Shareholders |
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No. of Shares |
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Kamal Chawla Address : 5A-2, B P NIT, |
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45000 |
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Alka Chawla Address : 5A-2, B P NIT, |
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5000 |
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Naveen Guglani |
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10000 |
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Total |
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60000 |
As on 30.09.2011
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of wood and wooden Products |
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Imports : |
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Products : |
·
Wooden Products |
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Countries : |
·
South America ·
New Zealand |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
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Customers : |
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Suppliers |
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No. of Employees : |
50 (approximately) |
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Bankers : |
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Facilities : |
Note : 1. the said loans are secured by mortgage on personal
properties of directors and their personal Guarantee and fixed assets of the
company 2. vehicle loans are secured by hypothecation of the assets financed.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Prakash K Prakash Chartered Accountant |
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Address : |
B-1, Sagar Apartments, 6, Tilak Marg, |
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Tel No.: |
91-11-23382207/23388753 |
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Fax No.: |
91-11-43590843 |
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Email : |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
60000 |
Equity Shares |
Rs.10/- each |
Rs. 0.600
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
Expected Sales (2011-2012) : Rs. 220.000 Millions
The above information has been parted by (Mr. Vikas - Accounts Manager)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.600 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.400 |
0.000 |
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3] Reserves & Surplus |
10.985 |
2.994 |
1.780 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.585 |
3.494 |
1.880 |
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LOAN FUNDS |
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1] Secured Loans |
18.765 |
19.486 |
8.682 |
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2] Unsecured Loans |
11.818 |
2.523 |
5.218 |
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TOTAL BORROWING |
30.583 |
22.009 |
13.900 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
42.168 |
25.503 |
15.780 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.640 |
3.009 |
0.749 |
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Capital work-in-progress |
7.435 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
1.740 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
35.219
|
17.074 |
12.972 |
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Sundry Debtors |
46.527
|
19.403 |
17.549 |
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Cash & Bank Balances |
11.702
|
0.798 |
0.223 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.837
|
1.166 |
2.345 |
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Total
Current Assets |
96.285
|
38.441 |
33.089 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
63.719
|
17.100 |
16.464 |
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Other Current Liabilities |
0.000
|
0.000 |
1.160 |
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Provisions |
1.473
|
0.587 |
0.438 |
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Total
Current Liabilities |
65.192
|
17.687 |
18.062 |
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Net Current Assets |
31.093
|
20.754 |
15.027 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.004 |
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TOTAL |
42.168 |
25.503 |
15.780 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
133.204 |
71.051 |
63.841 |
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Other Income |
1.979 |
1.326 |
0.882 |
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TOTAL (A) |
135.183 |
72.377 |
64.723 |
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Less |
EXPENSES |
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TOTAL (B) |
|
67.757 |
59.444 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.166 |
4.620 |
5.279 |
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Less |
FINANCIAL EXPENSES (D) |
3.086 |
2.523 |
1.625 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.080 |
2.097 |
3.654 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.397 |
0.285 |
2.411 |
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PROFIT BEFORE
TAX (E-F) (G) |
4.683 |
1.812 |
1.243 |
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Less |
TAX (I) |
1.592 |
0.599 |
0.439 |
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PROFIT AFTER TAX
(G-I) (J) |
3.091 |
1.213 |
0.804 |
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IMPORTS |
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CIF value of Import |
50.389 |
14.062 |
2.894 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.28
|
1.67 |
1.24 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.51
|
2.55 |
1.94 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.68
|
4.37 |
3.67 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.51 |
0.66 |
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Debt Equity Ratio (Total Liability/Networth) |
|
8.26
|
11.36 |
17.00 |
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Current Ratio (Current Asset/Current Liability) |
|
1.47
|
2.17 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
Note – the registered office
address of the company has been shifted from Khasara 73/15, Plot No. 16, Swarn
Park, Nangloi, Delhi – 110041, India to present address w.e.f. 27.08.2011
TRADE REFERNCES:
- New Faridabad
Timber Company
- Rishab Timber
Store
Fixed Assets:
- Land
- Building
- Plant and Machinery
- Car
- Printer
- Computer
- Inverter
- Water Cooler
Form
: 8
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Corporate
identity number of the company |
U15431DL2005PTC134421 |
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Name of the
company |
KAMAL TIMBERS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
RZ – 11/7, 1 and 6, Kirari Road, Kavita Colony, Near Railway Crossing,
Nangloi, New Delhi – 110041, India |
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This form is for |
Creation of
charge |
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Type of charge |
Movable property |
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Particular of
charge holder |
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Nature of
instrument creating charge |
6 New Saw Mills
at the
Existing Plant Situated At Survey No. 48, Village Versamedi,
Taluka:Anjar, Dist-Kutch, Gujarat |
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Date of
instrument Creating the charge |
22.07.2011 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest PLR+1% Terms of
Repayment 43 Monthly
Installments After Moratorium of 5 Months From The Date of First
Disbursement. Margin 26.66% Extent and
Operation of the charge Primary:First
Charge By Way of Hypothecation on All Moveable Assets Acquired/To Be Acquired
Out of The Proposed Loan From Sidbi. Collateral:
Extension of First Charge By Way of Hypothecation on All The Moveable Assets
of The Borrower Acuired/To Be Acquired From The Previous Loan From Sidbi Others Nil |
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Particulars of
the property charged |
Hypothecation on
All Moveable Assets Acquired/To Be Acquired Out of The Proposed Loan From
Sidbi. Extension of
First Charge By Way of Hypothecation On All The Moveable Assets of The
Borrower Acuired/To Be Acquired From The Previous Loan From Sidbi |
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Corporate
identity number of the company |
U15431DL2005PTC134421 |
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Name of the
company |
KAMAL TIMBERS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
RZ – 11/7, 1 and 6, Kirari Road, Kavita Colony, Near Railway Crossing,
Nangloi, New Delhi – 110041, Delhi |
|
This form is for |
Creation of
charge |
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Type of charge |
Immovable Property Book debts Movable property Floating charges |
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Particular of
charge holder |
State Bank of |
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Nature of
instrument creating charge |
Letter of
Agreement, Agreement of loan cum hypothecation |
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Date of
instrument Creating the charge |
07.07.2010 |
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Amount secured by
the charge |
Rs. 25.900
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest : Working Capital :
interest at the rate of 4.00% margin above the base rate which is presently
7.50% p.a. present effective rate 11.50% Terms of Repayment : Repayable on
Demand. Margin : NIL Extent and operation of the charge : EM of house no.
2H-83, BP, NIT Faridabad in the name of Sh. Kamal Chawla and SMT. Alka
Chawla. EM of house No.
2K-46C (Left side portion), BP, NIT Faridabad in the name of SH. Kamal
Chawla. EM of house
No.2K-46C (Right side Portion), BP, NIT Faridabad in the name of Sh. Kamal
Chawala. Others : Hypothecation on
all current assets both present and future including hypothecation of
finished goods, semi finished goods, raw materials and stores lying in the
company / factory premises or elsewhere and all receivables and documentary
bills etc. first charge of all current and fixed assets (present and future)
in the name of the company. Limit sanctioned is RS. 25.900 millions (cash
Credit (Hypothecation of Stocks and book debts) Rs. 12.500 millions and
letter of the credit Rs. 13.400 millions) |
|
Short Particulars
of the property charged |
1. EM of house
no. 2H-83, BP, NIT Faridabad in the name of Sh. Kamal Chawla and SMT. Alka
Chawla. 2. EM of house
No. 2K-46C (Left side portion), BP, NIT Faridabad in the name of SH. Kamal
Chawla. 3. EM of house
No.2K-46C (Right side Portion), BP, NIT Faridabad in the name of Sh. Kamal
Chawala. 4. EM of House
no.2K-46D, BP, Nit Faridabad in the name of SH. Kamal Chawla. |
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Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
|
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 |
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 |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
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 |
Yes |
|
25) Conduct of the banking
account |
---------------------- |
|
26) Buyer visit details |
---------------------- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
---------------------- |
|
29) Last accounts filed at ROC |
---------------------- |
|
30) Major Shareholders, if
available |
---------------------- |
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. 53.29 |
|
|
1 |
Rs. 82.66 |
|
Euro |
1 |
Rs. 68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.