|
Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Formerly Known
As : |
KTMS ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Industrial House, S No 49 Opposite Kalayni Steel Limited
Mundwa, Pune-411 036, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.07.1985 |
|
|
|
|
Com. Reg. No.: |
11-036722 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.004 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH1985PTC036722 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Air Brakes for Commercial Vehicles. (They also engaged in development of industrial projects, infrastructure, they take up turnkey projects.) |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 7800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having good track.
Financial position of the company appears to be sound. Directors are reported
to be experienced and respectable businessmen. Trades relations are reported
as fair. Payments are reported to be regular and as per commitments. 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. Pramod Adke |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9822060350 |
|
Date : |
28.02.2012 |
LOCATIONS
|
Registered Office / Factory 1 : |
Industrial House, S No 49 Opposite Kalayni Steel Limited
Mundwa, Pune-411 036, |
|
Tel. No.: |
91-20-26725000 |
|
Mobile No.: |
91-9822060350 (Mr. Pramod Adke) |
|
Fax No.: |
91-20-26812589 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
No. 34 and 35, Hootagalli Industrial Area, Hootagalli,
Mysore-570018, |
|
Tel. No.: |
91-821-22404685/22404686/22404311 |
|
Fax No.: |
91-821-22404687 |
|
Area : |
Owned |
|
|
|
|
Infrastructure Division |
INDUSTRY HOUSE", Opposite Kalyani Carpenter Special
Steels Limited, Mundhwa, Pune Cantonment, Pune - 411 036, |
|
Tel. No. : |
91-20-26725000 |
|
Fax No. : |
91-20-2681 2580 |
|
|
|
|
Energy
Division |
A-41,
Sector-62, Noida – 201301, |
|
Tel. No. : |
91-120-4638000 |
|
Fax No. : |
91-120-4638099 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Shriniwas B Kanade |
|
Designation : |
Director |
|
Address : |
20, Nityanand Co HOS Society, Pune – |
|
Date of Birth/Age : |
04.03.1953 |
|
Date of Appointment : |
01.06.2005 |
|
DIN No. : |
00089063 |
|
|
|
|
Name : |
Mr. Santanam R Swamy |
|
Designation : |
Director |
|
Address : |
B – 208, Royal Palms LBS Nagar, Annasandra Palya, |
|
Date of Appointment : |
01.11.1996 |
|
DIN No. : |
02424308 |
KEY EXECUTIVES
|
Name : |
Mr. Pramod Adke |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Yokoha Investment Private Limited – |
25101 |
|
Peach Blossom
Investment Private Limited – |
25100 |
|
Rosario Investment Private Limited – |
100 |
|
Hibiscus Investment And Finance Private Limited – |
25101 |
|
Sadguru Invest And Trading Company – |
90000 |
|
Sundaram Trading And Investment Private Limited – |
90000 |
|
Shri Tuljabhavani Investment Private Limited – |
90000 |
|
Vasai Fort Trading Company Private Limited – |
90000 |
|
Janjira Trading Company Private Limited – |
90000 |
|
Blenda Investment Private Limited – |
90000 |
|
Akurdi Trading Company Private Limited – |
90000 |
|
Chakarapushpa Investment And Finance Limited – |
90000 |
|
Acorn Properties Private Limited – |
52500 |
|
Purandhar Trading Company Private Limited – |
47500 |
|
Pratapgad Trading Company Private Limited – |
10000 |
|
Axiom Project Consultants Private Limited – |
95000 |
|
Total |
1000402 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Air Brakes for Commercial Vehicles. (They also engaged in development of industrial projects, infrastructure, they take up turnkey projects.) |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Brakes |
Nos. |
780000 |
353621 |
GENERAL INFORMATION
|
Customers : |
Others |
|
|
|
|
No. of Employees : |
150 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Prashant V Deo Chartered Accountant |
|
Address : |
Flat No. 11, Building No. 8-B, Laxminarayannagar, No. 4 Co-op hsg.,
Society, Erandawana, Pune 411036, |
|
Tel. No. : |
91-20-25465542 |
|
Pan No. : |
ABAPD7786M |
|
|
|
|
Sister Concern : |
Kalyani Thermal Systems Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1002000 |
Equity Shares |
Rs.10/- each |
Rs. 10.020 Millions |
|
8000 |
Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 0.080 Million |
|
|
Total |
|
Rs. 10.100
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000402 |
Equity Shares |
Rs.10/- each |
Rs. 10.004
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 |
10.004 |
10.004 |
10.004 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1956.797 |
1713.050 |
3726.563 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1966.801 |
1723.054 |
3736.567 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
38.301 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
38.301 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1966.801 |
1723.054 |
3774.868 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
23.195 |
44.833 |
100.645 |
|
|
Capital work-in-progress |
0.245 |
0.332 |
75.819 |
|
|
|
|
|
|
|
|
INVESTMENT |
501.664 |
80.060 |
1878.894 |
|
|
DEFERREX TAX ASSETS |
2.677 |
2.076 |
6.837 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
289.668
|
168.846
|
194.637 |
|
|
Sundry Debtors |
175.457
|
257.921
|
274.441 |
|
|
Cash & Bank Balances |
147.769
|
242.408
|
265.224 |
|
|
Other Current Assets |
24.884
|
20.071
|
51.459 |
|
|
Loans & Advances |
1090.420
|
1247.001
|
1240.084 |
|
Total
Current Assets |
1728.198
|
1936.247 |
2025.845 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
109.807
|
279.004
|
162.199 |
|
|
Other Current Liabilities |
173.193
|
59.802
|
148.291 |
|
|
Provisions |
6.178
|
1.688
|
2.682 |
|
Total
Current Liabilities |
289.178
|
340.494 |
313.172 |
|
|
Net Current Assets |
1439.020
|
1595.753
|
1712.673 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1966.801 |
1723.054 |
3774.868 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2306.373 |
1659.720 |
1708.090 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2306.373 |
1659.720 |
1708.090 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
1956.429 |
1615.510 |
1504.290 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1956.429 |
1615.510 |
1504.290 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
349.944 |
44.210 |
203.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.697 |
0.600 |
33.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
348.247 |
43.610 |
170.200 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
7.170 |
8.980 |
11.060 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
341.077 |
34.630 |
159.140 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(97.320) |
(1.880) |
30.610 |
|
|
|
|
|
|
|
|
|
|
Prior Period
Adjustments |
(0.009) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
243.748 |
36.510 |
128.530 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
243.65 |
36.50 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
10.57
|
2.20
|
7.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.44
|
1.75
|
7.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.02
|
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.15
|
0.20
|
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.98
|
5.69
|
6.47 |
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 |
Yes |
|
13. Reasons for variation <> 20% |
No |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
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 |
------ |
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due others |
109.807
|
279.004
|
162.199 |
COMPANY OVERVIEW:
Subject is engaged
in the business of engineering, construction, infrastructure development and
manufacturing of brake assemblies.
BUSINESS AND OPERATIONS
After meeting all the outgoing, the year’s working resulted in a net
profit of Rs. 243.747 Millions as compared to the net profit year.
During the year the Company transferred all fixed assets, inventory and
intangibles being business and commercial rights Manufacturing Unit at Mysore
with effective from 4th January, 2011.
FORM 8
|
Corporate
identity number of the company |
U74140MH1985PTC036722 |
|
Name of the
company |
KALYANI GLOBAL ENGINEERING PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Industrial House,
S No 49 Opposite Kalayni Steel Limited Mundwa, Pune-411 036, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
HDFC Bank Limited
– HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013 |
|
Nature of
instrument creating charge |
Letter of Hypothecation
of Stocks and Book Debts |
|
Date of
instrument Creating the charge |
25.04.2011 |
|
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 At present 11.5%
p. a. on Cash Credit or such other rate as mutually agreed between the bank
and the company (WCDL - Rate of interest to be mutually agreed upon at the
time of disbursement.) Terms of repayment Bank Guarantee -
Up to 13 months (sublimit of Rs.180.000 Millions for up to 30 months. Cash Credit - On
demand (WCDL - Up to 180 days.) Margin Margin as may be
mutually agreed between the bank and the company Extent and operation of the charge 1 - All the Stock
in trade both present and future consisting of raw material and finished
goods and movable properties relating to arising with respect of project
undertaken by us now at any time here after belonging to us or at our
disposal. 2 - All the book
debts outstanding money receivable, claims and bills which are now due and
owing or which may at any time here after during the continuous of security
becomes due. |
|
Short particulars
of the property charged (Including location of the property) |
Escrow account of
project receivable with HDFC Bank Limited
Bhandarkar Road Branch Pune and charge on project current assets. All stock in
trade both present and future consisting of raw material, finished goods and
movable property relating to arrising with respect to the project at part of
S. No.295/1, Village Siracha and part of revenue S. No.225, Village Navinan,
Dist. Kutch, Gujrat State. |
FIXED ASSETS
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. 49.15 |
|
|
1 |
Rs. 78.24 |
|
Euro |
1 |
Rs. 65.56 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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.