|
Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
KRISLUR CASTOMECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.184, Chitra Industrial Estate, |
|
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.03.2006 |
|
|
|
|
Com. Reg. No.: |
04-047984 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.880
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100GJ2006PTC047984 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHMK05297F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK1995Q |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of C.I. Casting. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 152000 |
|
|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. The company
has achieved sizeable turnover in its first year of operation. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small 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 DECLINED BY
|
Name : |
Mr. Nilin Rameshbhai Mehta |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9825205843 |
|
Date : |
06.03.2012 |
LOCATIONS
|
Registered Office : |
Plot No.184, Chitra Industrial Estate, |
|
Tel. No.: |
91-278-2446472 |
|
Mobile No.: |
91-9825205843 (Mr. Nilin Mehta) |
|
Fax No.: |
91-278-2445843 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 01.08.2011
|
Name : |
Mr. Nilin Rameshbhai Mehta |
|
Designation : |
Managing Director |
|
Address : |
Block No.601, |
|
Date of Birth/Age : |
07.07.1961 |
|
Date of Appointment : |
22.03.2006 |
|
DIN No.: |
00009358 |
|
|
|
|
Name : |
Ms. Bhavna Nalinbhai Mehta |
|
Designation : |
Director |
|
Address : |
Block No.601, |
|
Date of Birth/Age : |
14.01.1964 |
|
Date of Appointment : |
22.03.2006 |
|
DIN No.: |
00009315 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Nalin R. Mehta |
|
1683000 |
|
Bhavna N. Mehta |
|
5000 |
|
Total |
|
1688000 |
As on 18.02.2012
|
Names of Allottees |
|
No. of Shares |
|
Bhavna Nalin Mehta |
|
150000 |
|
Total |
|
150000 |
As on 01.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of C.I. Casting. |
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|
|
|
Products : |
Cast Iron |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Actual
Production Qty.
(MT) |
|
Cast Iron and Castings |
3688.519 |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||
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Bankers : |
v Axis Bank
Limited, 4/B, Vasundhara Complex, v HDFC Bank
Limited v State Bank of |
|||||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
M.K. Makati and Company Chartered Accountants |
|
Address : |
Above MICO, Danapith, |
|
Tel. No.: |
91-278-2427676/ 2511050 |
|
Income-tax
PAN of auditor or auditor's firm : |
ACDPM3426B |
CAPITAL STRUCTURE
After 01.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1838000 |
Equity Shares |
Rs.10/- each |
Rs.18.380
millions |
|
|
|
|
|
As on 01.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1688000 |
Equity Shares |
Rs.10/- each |
Rs.16.880
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 |
16.880 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
21.225 |
0.025 |
0.025 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
38.105 |
0.125 |
0.125 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
49.614 |
4.710 |
5.384 |
|
|
2] Unsecured Loans |
16.923 |
4.916 |
2.560 |
|
|
TOTAL BORROWING |
66.537 |
9.626 |
7.944 |
|
|
DEFERRED TAX LIABILITIES |
0.294 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
104.936 |
9.751 |
8.069 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
55.705 |
8.005 |
7.939 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.020 |
0.020 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
21.893
|
0.000 |
0.000 |
|
|
Sundry Debtors |
36.935
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
3.397
|
0.096 |
0.109 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans, Advances & Deposits |
8.354
|
0.599 |
0.000 |
|
Total
Current Assets |
70.579
|
0.695 |
0.109 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.165 |
0.015 |
0.005 |
|
|
Other Current Liabilities |
2.266
|
0.000 |
0.000 |
|
|
Provisions |
1.775
|
0.000 |
0.012 |
|
Total
Current Liabilities |
22.206
|
0.015 |
0.017 |
|
|
Net Current Assets |
48.373
|
0.680 |
0.092 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.838 |
1.046 |
0.038 |
|
|
|
|
|
|
|
|
TOTAL |
104.936 |
9.751 |
8.069 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
207.291 |
0.000 |
0.000 |
|
|
|
Other Income |
0.158 |
0.000 |
0.061 |
|
|
|
TOTAL (A) |
207.449 |
0.000 |
0.061 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing Expenses |
197.877 |
0.000 |
0.000 |
|
|
|
Administrative and Other Expenses |
3.763 |
0.000 |
0.016 |
|
|
|
Amortization of Preliminary Expenses |
0.209 |
0.000 |
0.000 |
|
|
|
Increase/ Decrease in Finished/ Semi Finished Stock |
(9.835) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
192.014 |
0.000 |
0.016 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.435 |
0.000 |
0.045 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
6.074 |
0.000 |
0.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.361 |
0.000 |
0.038 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.872 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.489 |
0.000 |
0.038 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.069 |
0.000 |
0.013 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.420 |
0.000 |
0.025 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.025 |
0.025 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4.445 |
0.025 |
0.025 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.367 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.62 |
0.00 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.13
|
0.00 |
40.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.13
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.14
|
0.00 |
0.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.00 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.33
|
77.13 |
63.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.18
|
46.33 |
6.41 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- Creditors for
Goods |
10.588 |
0.000 |
0.000 |
|
- Creditors for
Expenses |
3.565 |
0.015 |
0.005 |
|
- Creditors for
Capital Goods |
4.012 |
0.000 |
0.000 |
|
Total |
18.165 |
0.015 |
0.005 |
Note:
The registered office of the company has been shifted from Block No.601,
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27100GJ2006PTC047984 |
|
Name of the
company |
KRISLUR CASTOMECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.184, Chitra Industrial Estate, E-Mail: |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10233101 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Axis Bank
Limited, 4/B, Vasundhara Complex, E-Mail: shesh.gummuluri@axisbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry (Extension of Equitable Mortgage) |
|
Date of
instrument Creating the charge |
21.06.2011 |
|
Amount secured by
the charge |
Rs.66.394
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: ABR + 3.25% i.e.
12.25% p.a. payable monthly. Terms of
Repayment: Term Loan - IV:
Tenure 60 months, Moratorium 6 months, 53 Installments of Rs.0.148 million each
and 54th installment of Rs.0.156 million. Margin: 27.27% Extent and
Operation of the charge: Mortgagor has
re-deposited title deeds to continue to hold and retain the title deeds as
and by way of equitable mortgage by deposit of title deeds of immovable
property situated at GIDC, Chitra, |
|
Short particulars
of the property charged |
Plot No.54 adm.
273 Sq. Mtrs. situated at Chitra Industrial Area and Revenue Survey No.86
paiki of village Chitra, Ta. and
District Plot No.183/A
adm. 730.05 Sq. Mtrs. situated at Chitra Industrial Estate and Revenue Survey
No.70 paiki of Village Chitra, Ta. and District Plot No.183/B
adm. 1106.85 Sq. Mtrs. situated at Chitra Industrial Estate and Revenue
Survey No.70/1 paiki of Village Chitra, Ta. and District Plot No.184/A adm.
1117.94 Sq. Mtrs situated at Chita Industrial Estate and Revenue Survey
No.70/1 paiki of Village Chitra,
Ta. and District Plot No.184/1 and
2 adm. 356 Sq. Mtrs situated at Chitra Industrial Estate and Revenue Survey
No.70/1 paiki of Village Chitra, Ta. and District Plot No.51 adm.
273 Sq. Mtrs situated at Chitra Industrial Estate and Revenue Survey No.70/1
paiki of Village Chitra, Ta. and District |
|
Particulars of
the present modification |
Mortgagor has deposited
title deeds of immovable property situated at GIDC, Chitra, Bhavnagar as
described in second schedule of agreement the additional term loan of
Rs.8.000 millions granted over the existing credit facility of Rs.58.394
millions making total credit facility of Rs.66.394 millions. |
FIXED ASSETS:
v Land
v Shed
v Foundry Shed
v New Foundry Shed II
v Dead Stock
v Furniture
v Machineries
v Electrical Fitting
v Air Conditioner
v Die Tools
v Tele. “EPABX” Equipment
v Mobile Instrument
v Water Cooler Machine
v Xerox Machine
v Fax Machine
v Generator
v Wimax CPE Internet Hub
v Scooter
v Honda City Car
v Computer Equipment
v 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.50.02 |
|
|
1 |
Rs.79.00 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.