MIRA
INFORM REPORT
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Report Date : |
23.06.2012 |
IDENTIFICATION DETAILS
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Name : |
KJR POLY FILMS PRIVATE LIMITED |
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Registered
Office : |
Plot No. D 162 and 164, Phase – III, IDA Jeedimetla, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.11.1998 |
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Com. Reg. No.: |
01-030523 |
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Capital
Investment / Paid-up Capital : |
Rs. 16.200 Millions |
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CIN No.: [Company Identification
No.] |
U24134AP1998PTC030523 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDK00888G |
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PAN No.: [Permanent Account No.] |
AABCK3886E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Co – Extruded Polyethylene Film, Sheets, and
Bags. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 210000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The appear
some loss in the current year. However, trade relations are reported to be fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
LOCATIONS
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Registered Office : |
Plot No. D 162 and 164, Phase – III, IDA Jeedimetla, Hyderabad 500055,
Andhra Pradesh, India |
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Tel. No.: |
91-40-23092345 / 23730709 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
Plot No. 12/B, Phase-III, IDA, Jeedimetla, R.R. Dist. Hyderabad, |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Kesireddy Narender Reddy |
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Designation : |
Director |
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Address : |
7-1-2/ E, Shanti Bagh, Begumpet, |
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Date of Birth/Age : |
03.05.1955 |
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Date of Appointment : |
18.11.1998 |
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DIN No.: |
00446940 |
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Other Directorship : |
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Name : |
Ms. Kesireddy Jayasri |
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Designation : |
Director |
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Address : |
7-1-2/ E, Shanti Bagh, Begumpet, |
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Date of Birth/Age : |
13.07.1961 |
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Date of Appointment : |
18.11.1998 |
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DIN No.: |
00447232 |
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Other Directorship : |
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Name : |
Mr. Sandeep Reddy Kesireddy |
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Designation : |
Director |
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Address : |
7-1-2/ E, Shanti Bagh, Begumpet, |
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Date of Birth/Age : |
20.04.1963 |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
01839246 |
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KEY EXECUTIVES
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Name : |
Mr. Keshar Reddy |
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Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Jayasri Kesireddy w/o Kesireddy Narender Reddy |
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50000 |
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Kesireddy Narender Reddy s/o Late K Mohan Reddy Jayasri Kesireddy w/o Kesireddy Narender Reddy |
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32250 7000 |
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Sandeep Reddy Kesireddy S/O Kesireddy Narender Reddy |
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52500 |
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Kesireddy Narender Reddy S/o Late K Mohan Reddy |
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20250 |
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Total |
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162000 |
AS ON 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Co – Extruded Polyethylene Film, Sheets, and
Bags. |
PRODUCTION STATUS AS ON
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Particulars |
Unit |
Installed
Capacity |
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Co – Extruded Polyethylene Film, Sheets, and Bags |
MT |
5520 |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Andhra Bank, Balanagar Branch, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A.G.S Reddy and Company Chartered Accountants |
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Address : |
8, I Floor, 'Topaz', Amrutha Hills, Panjagutta, |
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Income-tax
PAN of auditor or auditor's firm : |
ABLPA5069M |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
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Issued, Subscribed :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
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Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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162000 |
Equity Shares |
Rs. 100/- each |
Rs. 16.200
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
16.200 |
11.600 |
8.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
37.704 |
26.262 |
13.117 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
53.904 |
37.862 |
21.117 |
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LOAN FUNDS |
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1] Secured Loans |
54.810 |
15.471 |
13.153 |
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2] Unsecured Loans |
24.686 |
12.886 |
12.886 |
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TOTAL BORROWING |
79.496 |
28.357 |
26.039 |
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DEFERRED TAX LIABILITIES |
0.699 |
0.539 |
0.571 |
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TOTAL |
134.099 |
66.758 |
47.727 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
83.001 |
13.839 |
12.495 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
13.107 |
20.153 |
20.017 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
17.060
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7.629 |
5.990 |
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Sundry Debtors |
17.230
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10.597 |
9.748 |
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Cash & Bank Balances |
0.416
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0.149 |
0.026 |
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Other Current Assets |
0.852
|
2.273 |
0.988 |
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Loans & Advances |
9.031
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15.291 |
4.338 |
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Total
Current Assets |
44.589
|
35.939 |
21.090 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.313
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0.504 |
1.455 |
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Other Current Liabilities |
0.507
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0.227 |
0.357 |
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Provisions |
0.839
|
2.476 |
4.063 |
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Total
Current Liabilities |
6.659
|
3.207 |
5.875 |
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Net Current Assets |
37.930
|
32.732 |
15.215 |
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MISCELLANEOUS EXPENSES |
0.061 |
0.034 |
0.000 |
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TOTAL |
134.099 |
66.758 |
47.727 |
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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 |
154.721 |
160.214 |
176.380 |
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Other Income |
4.200 |
0.570 |
0.193 |
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TOTAL (A) |
158.921 |
160.784 |
176.573 |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
147.216 |
152.020 |
164.234 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.705 |
8.764 |
12.339 |
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Less |
FINANCIAL
EXPENSES (D) |
4.475 |
1.392 |
1.889 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.230 |
7.372 |
10.450 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.543 |
1.457 |
1.326 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.687 |
5.915 |
9.124 |
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Less |
TAX (H) |
0.744 |
1.771 |
2.906 |
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PROFIT/ LOSS
AFTER TAX (G-H) (I) |
(0.057) |
4.144 |
6.218 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
15.560 |
11.416 |
5.198 |
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BALANCE CARRIED
TO THE B/S |
15.503 |
15.560 |
11.416 |
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EARNINGS IN
FOREIGN CURRENCY |
Nil |
Nil |
0.244 |
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IMPORTS |
18.341 |
22.535 |
16.170 |
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Earnings Per
Share (Rs.) |
(0.83) |
50.90 |
76.93 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
(0.04)
|
2.58 |
3.52 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.44
|
3.69 |
5.17 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.54
|
11.88 |
27.17 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.16 |
0.43 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.60
|
0.83 |
1.51 |
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Current Ratio (Current Asset/Current Liability) |
|
6.70
|
11.21 |
3.59 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in
Report (Yes / No) |
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1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constitution of the firm |
Yes |
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4. Premises details |
No |
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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 |
Yes |
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8. No. of Employees |
No |
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9. Name of person contacted |
No |
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10. Designation of contact person |
No |
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11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
Yes |
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13. Reasons for variation <> 20% |
-- |
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14. Estimation for coming financial year |
No |
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15. Capital in the business |
Yes |
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16. Details of sister concerns |
No |
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17. Major suppliers |
No |
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18. Major customers |
No |
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19. Payments terms |
No |
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20. Export / Import details |
No |
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21. Market information |
-- |
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22. Litigations that the firm / promoter involved |
-- |
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23. Banking Details |
Yes |
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24. Banking facility details |
Yes |
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25. Conduct of the banking account |
-- |
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26. Buyer visit details |
-- |
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27. Financials, if provided |
Yes |
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28. Incorporation details, if applicable |
Yes |
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29. Last accounts filed at ROC |
Yes |
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30. Major Shareholders, if available |
Yes |
NOTE: The registered address of the company has been
shifted from D-162, Phase-111, IDA Jeeedimetla,
OPERATIONS:
The total turnover for the year, was Rs. 154.721 millions against the
previous years Rs. 160.214 millions. The operations resulted in net profit of
Rs. 0.687 million against previous year Rs. 5.915 millions, after absorbing
interest of Rs. 4.475 millions and depreciation of Rs. 6.543 millions in the
current year. The company has proposal to expand its activities in next year.
The installed capacity has been increased to 5520 MT from 3225 MT by
commissioning additional machinery during the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U24134AP1998PTC030523 |
|
Name of the
company |
KJR POLY FILMS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.D-162 and
164, Phase-III, IDA Jeedimetla,, R. R. District, |
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
90117615 |
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Type of charge |
Immovable
Property Book Debts Movable Property Others
(Machinery) |
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Particular of
charge holder |
Andhra Bank,
Balanagar Branch, Balanagar, Email ID: bmhydm057@andhrabank.co.in
|
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Nature of description
of the instrument creating or modifying the charge |
Composite
Agreement R.F.No.255B |
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Date of
instrument Creating the charge |
30.03.2011 |
|
Amount secured by
the charge |
Rs. 48.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Open Cash Credit
: Base rate + 3.50% Term Loan : Base
rate + 3.75% Terms of Repayment Open Cash Credit
: Repayable on Demand Term Loan : Repayable
in 22 quarterly installments commencing from May 2012 Margin 25% on Stocks 40% on Book Debts
below 90 days 10% Cash margin
on Bank Guarantees 25% on Machinery Extent and Operation of the charge OCC : Stocks,
Book Debts of below 90 days Term Loan :
Machinery to be purchased Collateral
Security : Fixed Assets
Minus APSFC Loan (except Vehicles) Factory Land of
M/s. KJR Poly Films Private Limited at Plot No.D-164, Phase III, IDA,
Jeedimetla, Others Total Limits of
Rs. 48.500 millions divided into :- Open Cash Credit
: Rs. 40.000 Millions Term Loan : Rs.
7.500 Millions Bank Guarantee :
Rs. 1.000 Millions |
|
Short particulars
of the property charged |
OCC : Stocks,
Book Debts of below 90 days Term Loan :
Machinery to be purchased Fixed Assets
Minus APSFC Loan (except Vehicles) |
|
Particulars of
the present modification |
Enhancement of
Limits to Rs. 48.500 millions divided into : Open Cash Credit :
Rs. 40.000 Millions Term Loan : Rs.
7.500 Millions Bank Guarantee :
Rs. 1.000 Millions |
FIXED ASSETS:
- Land
- Buildings
- Plant and
Machinery
- Electrical
Installation
- Generator
- Furniture and
Fixture
- Weighing
Scales
- Cylinders
- Office
Equipment
- Computers
- Packing
Machine
- Vehicles
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. 56.99 |
|
|
1 |
Rs. 88.97 |
|
Euro |
1 |
Rs. 71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
29 |
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.