MIRA
INFORM REPORT
|
Report Date : |
06.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
KAMTRESS AUTOMATION SYSTEMS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
KAMTRES AGENCIES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
7, Konankunte Industrial Area, Anjanapuram Main Road, Near Harinagar
Cross, Bangalore – 560062, Karnataka |
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.08.1989 |
|
|
|
|
Com. Reg. No.: |
08-10324 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140KA1989PTC010324 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRK00689D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture
and Exporter of All Types of Electroplating Plants and Equipment. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 28000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track.
Profitability of the company appears to be low. 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 dealing 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) |
|
|
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
|
Name : |
Mrs. Lakshmi Chandrashekar |
|
Designation : |
Director |
|
Contact No.: |
91-9342164976 |
|
Date : |
04.07.2012 |
LOCATIONS
|
Registered Office : |
7, Konankunte Industrial Area, Anjanapuram Main Road, Near Harinagar
Cross, Bangalore – 560062, Karnataka,
India |
|
Tel. No.: |
91-80-26320810/ 28436608/ 28436708 |
|
Mobile No.: |
91-9342164976 (Mrs. Lakshmi) |
|
Fax No.: |
91-80-28436608/ 28436708 |
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E-Mail : |
|
|
Website : |
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|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
(AS ON 09.09.2011)
|
Name : |
Mr. Saligram Rajaram Rao Chandrashekar |
|
Designation : |
Managing
Director |
|
Address : |
C 302 Samrat Apartments, 39th Cross East and D MN. 9th
Block Jayanagar, |
|
Date of Birth/Age : |
19.12.1961 |
|
Date of Appointment : |
21.10.1990 |
|
DIN No.: |
01390616 |
|
|
|
|
Name : |
Mrs. Lakshmi Chandrashekar Saligram |
|
Designation : |
Director |
|
Address : |
C 302 Samrat Apartments, 39th Cross East and D MN. 9th
Block Jayanagar, |
|
Date of Birth/Age : |
10.01.1965 |
|
Date of Appointment : |
25.09.1998 |
|
DIN No.: |
01109231 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 09.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Saligram
Rajaram Rao Chandrashekar |
|
90000 |
|
Lakshmi Chandrashekar Saligram |
|
60000 |
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|
|
|
|
Total |
|
150000 |
(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 : |
Manufacture
and Exporter of All Types of Electroplating Plants and Equipment. |
|
|
|
|
Exports : |
|
|
Products : |
Electroplating Plant and Equipments |
|
Countries : |
Hong Kong |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Hong Kong · USA |
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Terms : |
|
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Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Process Technology - USA |
|
|
|
|
Customers : |
Wholesaler and Retailers · ITI Limited |
|
|
|
|
No. of Employees : |
40 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of SSI Branch, Bangalore South, J. C. Industrial Area, 11th K M Off , Karnataka Road, Bangalore – 560062, West Bengal, India ·
Punjab National Bank, Vokkaligara Sangha Building, 1st Floor, Hudson Circle, Bangalore – 560002, Karnataka, India · HDFC Bank |
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Venkates Babu P and Company Chartered Accountants |
|
Address : |
93/1, 2nd Floor, 7th Cross, 3rd Main,
Chnarajapet, |
|
Tel No.: |
91-80-26603521 |
|
Mobile No.: |
91-9341249624 |
|
Email : |
|
|
PAN No.: |
ADRPB8053E |
|
|
|
|
Name : |
R Murli Chartered Accountants |
|
Address : |
No. 6, Alcazar, |
CAPITAL STRUCTURE
(AS ON 09.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 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 |
1.500 |
1.500 |
1.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.426 |
3.864 |
2.822 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.926 |
5.364 |
4.322 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.089 |
1.824 |
0.000 |
|
|
2] Unsecured Loans |
2.078 |
2.974 |
2.603 |
|
|
TOTAL BORROWING |
8.167 |
4.798 |
2.603 |
|
|
DEFERRED TAX LIABILITIES |
0.542 |
0.496 |
0.510 |
|
|
|
|
|
|
|
|
TOTAL |
15.635 |
10.658 |
7.435 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.219 |
5.175 |
4.012 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.002 |
0.002 |
0.002 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14.684
|
5.274 |
10.607 |
|
|
Sundry Debtors |
50.376
|
31.054 |
32.397 |
|
|
Cash & Bank Balances |
2.195
|
2.983 |
8.870 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
5.289
|
4.221 |
3.777 |
|
Total
Current Assets |
72.544
|
43.532 |
55.651 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
19.020
|
3.295 |
1.942 |
|
Total
Current Liabilities |
63.130
|
38.051 |
52.230 |
|
|
Net Current Assets |
9.414
|
5.481 |
3.421 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15.635 |
10.658 |
7.435 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
107.788 |
76.492 |
99.212 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
105.499 |
74.929 |
97.708 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.289 |
1.563 |
1.504 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.726 |
0.521 |
0.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.563 |
1.042 |
0.622 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.42 |
6.94 |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
110.000 |
|
|
|
|
|
Expected Sales (2012-13): Rs.130.000 Millions
The above information has been parted by Mrs. Lakshmi.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.45
|
1.36 |
0.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.91
|
3.21 |
2.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.29 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.29
|
7.99 |
12.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.14 |
1.07 |
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 |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
Yes |
|
Major Customers |
Yes |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
REVIEW OF OPERATIONS
The company was
able to generate a gross revenue of Rs.107.800 Millions. The company through its
state of the art technical and marketing infrastructure facilities hope for a
better performance in the coming year.
TRADE REFERENCE:
·
Process Technology - USA
· ITI Limited
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90192453 |
|
Corporate
identity number of the company |
U74140KA1989PTC010324 |
|
Name of the
company |
KAMTRESS
AUTOMATION SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
7, Konankunte
Industrial Area, Anjanapuram Main Road, Harinagar Cross, Bangalore – 560062,
Karnataka, India |
|
Type of charge |
Immovable property Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Punjab National
Bank Vokkaligara
Sangha Building, 1st Floor, Hudson Circle, Bangalore – 560002, Karnataka,
India |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
Goods and Book Debts to secure Cash Credit Facility. Hypothecation of
Block Assets. Letter of
Continuity. (All the above
pertain to the same charge) |
|
Date of instrument
Creating the charge |
07.09.2011 |
|
Amount secured by
the charge |
Rs.24.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest CC; 15.25% p.a. i.e.
10.75% p.a.(base rate) + 4.50% p.a., subject to revision from time to time. LG; As per Bank
Norms. Terms of
Repayment CC : Running
account repayable on demand. LG ; As per
sanction terms. Margin CC ; 25% on
Stocks and 40% on Book Debts. LG ; As per Bank
Norms. Extent and
Operation of the charge The charge shall
operate to the extent of entire loan amount plus interest, cost, commission,
expenses, liquidated damages and other charges if any thereon. Others The said amount
of Rs.24.000 Millions comprises of CC Rs.12.000 Millions (enhanced from
Rs.6.000 Millions) (sub limit for CC Book Debts Rs.10.000 Millions) and
Letter of Guarantee Rs.12.000 Millions (enhanced from Rs.7.500 Millions) |
|
Short particulars
of the property charged |
Hypo by way of first
charge on Various Raw Materials, manufacturing materials, Stock in process,
semi finished and finished goods including, PP Sheets, Control panels,
Software driven electroplating equipment, etc., book debts and other current
assets stored at company premises at No.7, Konakunte Ind. area, Anjanapura
Main Road, Bangalore 560062 or at any other place and equitable mortgage of
immovable properties together with land /building. (Existing and to be
constructed) at No.7, V P Khata No.321, Konanakunte, Uttarahalli Hobli,
Bangalore. |
|
Date of latest
modification prior to the present modification |
02/03/2010 |
|
Particulars of
the present modification |
By the above the
charge amount stands enhanced from Rs.13.500 Millions to Rs.24.000 Millions. (All other terms
and conditions remain unchanged) |
FIXED ASSETS:
· Land
· Building
· Machinery
· Office Equipment
· Furniture
· Vehicles
· 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.55.03 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.68.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
41 |
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.