|
Report Date : |
15.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
KUSABA ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
26, Amar Society, Gulmohar Path, Erandawane, Pune – 411004,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.10.2001 |
|
|
|
|
Com. Reg. No.: |
25-16482 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.935
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2001PTC016482 |
|
|
|
|
IEC No.: |
3101006601 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK05037E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCK6395C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Various Motors Control Instruments. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7500 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field. It scale of activity is limited.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered business dealings with some caution. |
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 : |
Ms. Shilpa |
|
Designation : |
Office Executive |
|
Contact No.: |
91-20-25464818 |
|
Date : |
14.03.2012 |
LOCATIONS
|
Registered Office : |
26, Amar Society, Gulmohar Path, Erandawane, Pune – 411 004, |
|
Tel. No.: |
91-20-25433879/ 25464818 |
|
Fax No.: |
91-20-25446759/ 25446750 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
(AS ON 26.09.2011)
|
Name : |
Mr. Vishwakumar Vishwanath Badawe |
|
Designation : |
Director |
|
Address : |
Adwait, 72/24, Erandawane, Gulmohar Path, Off |
|
Date of Birth/Age : |
22.05.1936 |
|
Date of Appointment : |
20.03.2010 |
|
DIN No.: |
00213345 |
|
|
|
|
Name : |
Mr. Satyajit Vishwakumar Badawe
|
|
Designation : |
Managing Director |
|
Address : |
Adwait, 72/24, Erandawane, Gulmohar Path, Off |
|
Date of Birth/Age : |
12.11.1967 |
|
Date of Appointment : |
20.03.2010 |
|
DIN No.: |
00213469 |
|
|
|
|
Name : |
Mrs. Manjiri Satyajit Badawe |
|
Designation : |
Director |
|
Address : |
Adwait, 72/24, Erandawane, Gulmohar Path, Off |
|
Date of Birth/Age : |
11.11.1971 |
|
Date of Appointment : |
08.09.2004 |
|
DIN No.: |
00213510 |
|
|
|
|
Name : |
Mr. Ramkumar Chandrasekaran Kuppanoor |
|
Designation : |
Director |
|
Address : |
5/6, |
|
Date of Birth/Age : |
27.11.1968 |
|
Date of Appointment : |
15.02.2005 |
|
DIN No.: |
00213704 |
KEY EXECUTIVES
|
Name : |
Ms. Shilpa |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 26.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Satyajit Vishwakumar Badawe |
|
5284 |
|
Vishwakumar Vishwanath Badawe |
|
661 |
|
Satyajit Vishwakumar Badawe (HUF)
|
|
250 |
|
Vineeta Badawe |
|
67 |
|
Manjiri Satyajit Badawe |
|
2505 |
|
Vrinda V Badawe |
|
583 |
|
|
|
|
|
Total |
|
9350 |
(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 : |
Trader and Importer of Various Motors Control Instruments. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
|
Actual Production |
|
|
|
|
|
Manufacture Shielding Assembly |
|
60 |
|
|
|
|
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers · Bharat Electronics Limited · Manjira Machine Tools · ISGEC · ITW · ARDE/R and DEE · Kirloskar Oil Engine Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
20 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
The Cosmos Co-Operative Bank Limited (Deccan Gymkhana
Branch) 269/270, Shaniwar Peth, Pune – 411 030, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
U B Gujar and Company Chartered Accountant |
|
Address : |
Swojas Gulmohar, 3 Shantisheela Society, Film Institute Road, Pune –
411004, Maharashtra, India |
|
Tel. No.: |
91-20-25440006/ 25449400 |
|
PAN No.: |
ABMPG3737F |
|
|
|
|
Associates Company : |
· Badawe Engineers Private Limited, Pune Activity: Manufacturer of Various Control Engineering Instrumentation
Position Control Systems. |
CAPITAL STRUCTURE
(AS ON 26.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9350 |
Equity Shares |
Rs.100/- each |
Rs.0.935
Million |
|
|
|
|
|
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 |
0.935 |
0.635 |
0.635 |
|
|
2] Share Application Money |
0.000 |
0.300 |
0.000 |
|
|
3] Reserves & Surplus |
0.940 |
0.861 |
0.997 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.875 |
1.796 |
1.632 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.846 |
0.284 |
0.272 |
|
|
2] Unsecured Loans |
2.613 |
1.960 |
0.600 |
|
|
TOTAL BORROWING |
3.459 |
2.243 |
0.872 |
|
|
DEFERRED TAX LIABILITIES |
0.027 |
0.023 |
0.027 |
|
|
|
|
|
|
|
|
TOTAL |
5.361 |
4.062 |
2.531 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.612 |
0.371 |
0.427 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.053 |
0.051 |
0.043 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.797
|
1.983
|
1.383 |
|
|
Sundry Debtors |
4.359
|
1.971
|
0.963 |
|
|
Cash & Bank Balances |
0.132
|
0.038
|
0.084 |
|
|
Other Current Assets |
0.011
|
0.025
|
0.042 |
|
|
Loans & Advances |
0.661
|
0.777
|
0.688 |
|
Total
Current Assets |
7.960
|
4.794 |
3.160 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1.895
|
0.144
|
0.334 |
|
|
Other Current Liabilities |
1.025
|
0.616
|
0.299 |
|
|
Provisions |
0.344
|
0.394
|
0.466 |
|
Total
Current Liabilities |
3.264
|
1.154
|
1.099 |
|
|
Net Current Assets |
4.696
|
3.640
|
2.061 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.361 |
4.062 |
2.531 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
INCOME AND
AGENCY COMMISSION |
9.127 |
6.562 |
5.508 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.209 |
(0.063) |
0.069 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.094 |
0.076 |
0.069 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.115 |
(0.139) |
0.287 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.036 |
(0.004) |
0.104 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.079 |
(0.136) |
0.183 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Trading Sales |
0.051 |
0.042 |
0.000 |
|
|
|
Agency Commission |
0.012 |
0.310 |
0.543 |
|
|
TOTAL EARNINGS |
0.063 |
0.352 |
0.543 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6.896 |
4.802 |
3.277 |
|
|
TOTAL IMPORTS |
6.896 |
4.802 |
3.277 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.45 |
(21.43) |
-- |
|
Expected Sales (2011-12): Rs.12.500 Millions
The above information has been parted by Ms. Shilpa.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.34
|
(2.69)
|
8.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.08)
|
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.59
|
1.89
|
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.44
|
4.15
|
2.87 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
1.895
|
0.144
|
0.334 |
|
|
|
|
|
|
Total |
1.895 |
0.144
|
0.334 |
|
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 |
----- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last two years |
Yes |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
No |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
----- |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
No |
|
Incorporation details is applicable |
----- |
|
Last Accounts filed at ROC |
----- |
|
Major Shareholders, if available |
----- |
OPERATIONS AND FINANCIAL RESULTS:
The profit for the financial year ended
31.03.2011 is Rs.0.079 Million (Previous year loss Rs.0.136 Million)
FORM NO. 8
|
Corporate
identity number of the company |
U29299PN2001PTC016482 |
|
Name of the
company |
KUSABA ENGINEERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
26, Amar Society, Gulmohar Path, Erandawane, Pune – 411 004, |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be mentioned |
10007085 |
|
Type of charge |
Book Debts Floating Charge |
|
Particular of
charge holder |
The Cosmos Co-Operative Bank Limited (Deccan Gymkhana
Branch) 269/270, Shaniwar Peth, Pune – 411 030, Maharashtra, India |
|
Nature of
instrument creating charge |
First
supplemental Deed of Hypothecation of stock, Book Debts and Machinery dated
21st September, 2011 |
|
Date of
instrument Creating the charge |
21.09.2011 |
|
Amount secured by
the charge |
Rs.2.000 Millions |
|
Brief of the principal
terms and conditions and extent and operation of the charge |
Rate of Interest Cash Credit
(Rs.2.000 Millions) presently 13.00% p.a. Terms of
Repayment Cash Credit
(Rs.2.000 Millions) Repayable On Demand/ Review Within 12 Months Margin Cash Credit
(Rs.2.000 Millions): 40% In Bank's Favour Extent and
Operation of the charge The charge shall
continue to operate untill full repayment of loan by the company Others Facility: Cash Credit
Limit of Rs.2.000 Millions for purpose of working capital finance |
|
Short particulars
of the property charged |
All Stock in
Trade, Raw Material, Manufacturer goods and finished goods at company’s
registered officer or at any other place of business in India. All present and
future book debts, outstanding money, receivable, claims, bills chooses in
action, contracts, engagements and securities of the company. |
|
Particulars of
the present modification |
The existing cash
Credit facility of rs.1.000 Millions is now enhanced by the additional
facility of Rs.1.000 Millions therefore, total cash credit facility stands to
Rs.2.000 millions |
FIXED ASSETS:
·
Computer
·
Mobile Handset
·
Office Furniture
·
Office Equipment
·
Plant and Machinery
·
Texting Equipment
·
Tools Dies and Mould
·
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 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.49.85 |
|
|
1 |
Rs.77.97 |
|
Euro |
1 |
Rs.65.62 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.