1. Summary Information
|
|
|
Country |
|
|
Company Name |
KARUNA MANAGEMENT SERVICES PRIVATE LIMITED |
Principal Name 1 |
Mr. Sanjoy Tekriwal |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Sandeep Tekriwal |
|
|
|
Registration # |
21-072875 |
|
Street Address |
|
||
|
Established Date |
14.07.1995 |
SIC Code |
-- |
|
Telephone# |
91-33-22693289 |
Business Style 1 |
Distributors |
|
Fax # |
91-33-22693288 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Samsung Mobile |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.9,038,650/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate – 0.31% Directors
or relatives of directors – 99.59% Others – 0.10% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
17 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (45) |
|
|
|||
|
Relation
|
Country |
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
|
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
308,060,000 |
Current Liabilities |
302,462,000 |
|
Inventories |
262,966,000 |
Long-term Liabilities |
148,403,000 |
|
Fixed Assets |
9,486,000 |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
450,865,000 |
|
Invest& other Assets |
4,894,000 |
Retained Earnings |
125,502,000 |
|
|
|
Net Worth |
134,541,000 |
|
Total Assets |
585,406,000 |
Total Liab. & Equity |
585,406,000 |
|
Total Assets (Previous Year) |
320,115,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
21,912,000 |
|
Sales(Previous yr) |
NA |
Net Profit(Prev.yr) |
6,321,000 |
MIRA
INFORM REPORT
|
Report Date : |
29.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
KARUNA MANAGEMENT SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.07.1995 |
|
|
|
|
Com. Reg. No.: |
21-072875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.039 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120WB1995PTC072875 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALK02922D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK1666L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributors of Samsung Mobile. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 530000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. 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 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.
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 |
LOCATIONS
|
Registered Office / Corporate Office : |
|
|
Tel. No.: |
91-33-22693289/90 |
|
Fax No.: |
91-33-22693288 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located At:
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sanjoy Tekriwal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
BG-14, Sector II, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.10.1960 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.08.1996 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00495631 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sandeep Tekriwal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
BG-14, Sector II, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.05.1969 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.08.1996 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00495666 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Madhu Tekriwal |
|
19800 |
|
Sanjoy Tekriwal |
|
80950 |
|
Siddharth Tekriwal |
|
8100 |
|
Gouri Shankar Biswanath (HUF) |
|
21900 |
|
Sashikant Chiripal |
|
2700 |
|
Gouri Shankar Tekriwal |
|
148240 |
|
Gouri Shankar Tekriwal (HUF) |
|
14500 |
|
Karuna Financial Services Private Limited, |
|
168700 |
|
Meghna Tekriwal |
|
26500 |
|
Sandeep Tekriwal |
|
5100 |
|
Sanjoy Tekriwal (HUF) |
|
16550 |
|
Comfort Business Private Limited, |
|
101000 |
|
SHS Merchants Private Limited, |
|
73100 |
|
Samrat Vyapaar Private Limited, |
|
81600 |
|
Karuna Retails Private Limited, |
|
124725 |
|
Sandeep Tekriwal -HUF |
|
10400 |
|
Total |
|
903865 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
0.31 |
|
Directors or relatives of Directors |
99.59 |
|
Others |
0.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributors of Samsung Mobile. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
State Bank of |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shruti Dokania and Associates Chartered Accountants |
|
Address : |
12, Mangoe Lane, 1st Floor, Kolkata – 700001,
West |
|
Tel. No.: |
91-33-38225661 |
|
PAN.: |
ADLPD5543K |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
903865 |
Equity Shares |
Rs.10/- each |
Rs.9.039
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 |
9.039 |
8.339 |
6.639 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
125.502 |
69.290 |
47.668 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
134.541 |
77.629 |
54.307 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
148.195 |
138.419 |
112.289 |
|
|
2] Unsecured Loans |
0.208 |
0.957 |
3.426 |
|
|
TOTAL BORROWING |
148.403 |
139.376 |
115.715 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
282.944 |
217.005 |
170.023 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.486 |
7.019 |
6.424 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.894 |
8.882 |
5.158 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
262.966
|
170.778
|
65.584
|
|
|
Sundry Debtors |
283.916
|
112.197
|
93.347
|
|
|
Cash & Bank Balances |
8.172
|
8.216
|
10.736
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
15.972
|
13.022
|
9.485
|
|
Total
Current Assets |
571.026
|
304.213 |
179.152 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
275.225
|
84.076 |
|
|
|
Other Current Liabilities |
16.346
|
10.596 |
|
|
|
Provisions |
10.891
|
8.438
|
5.453
|
|
Total
Current Liabilities |
302.462
|
103.110 |
20.711 |
|
|
Net Current Assets |
268.564
|
201.104
|
158.441
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
282.944 |
217.005 |
170.023 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
32.780 |
9.341 |
7.279 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.868 |
3.020 |
2.853 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
21.912 |
6.321 |
4.426 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.888 |
7.567 |
6.141 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.000 |
4.000 |
3.000 |
|
|
BALANCE CARRIED
TO THE B/S |
27.800 |
9.888 |
7.567 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.24s |
7.59 |
6.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.65
|
3.00 |
3.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.03 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.35
|
3.12 |
2.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.89
|
2.95 |
8.65 |
LOCAL AGENCY FURTHER INFORMATION
CONTINGENT
LIABILITIES
Bank Guarantee of Rs.450.000 Millions (Against which Fixed Deposit of Rs.4.500 Millions has been given as lien) given to Samsung India Electronics Limited and Hewlett Packard India Sales Private Limited against credit facilities extended to the Company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U67120WB1995PTC072875 |
|
Name of the
company |
KARUNA MANAGEMENT SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
90245006 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Memorandum of Deposit for Creation of further charge for Term Loan/Overall Limit where the initial Charge is Created by way of Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
28.10.2011 |
|
Amount secured by
the charge |
Rs.357.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC : At 3.75% above Base Rate SLC : At 4.75% above Base Rate, BG : Commission to be recovered at 90% of our standard rates a applicable from time to time. Terms of Repayment Working Capital Limit is repayable on demand. Margin As stipulated by the Bank for the respective assets from time to time. Finished Goods : 25%, Receivables (Cover 90 days) : 30% and Bank Guarantee: 10% *. *However, the Bank may increase the same upto 100% at its discretion. Extent and
Operation of the charge The charge operates as first charge basis on the whole of the mortgaged properties of the Company as mentioned in Column No.15 to secure the maximum amount under the said charge fixed at Rs.357.500 Millions together with interest, costs and charges thereon. Others The Borrower shall not do or allow anything which may prejudice the security and shall comply with the terms and conditions of the Agreements. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All that the shop
room having an area of 522 sq.ft. on the ground floor, Block-A in the
building together with proportionate share of land and other common
facilities available at Premises No.20, Moulana Abul Kalam Azad Road, within
the limits of the Howrah Municipal Corporation, Police Station Golabari,
District Howrah and the said shop is butted and bounded as follows: On the North :
Shop room, On the South :
Shop room in possession of one Ashok Dhagat, On the East :
Godown in possession of one Vikash Agarwal and On the West: under Original
Title Deed No.I-3771 for the year 2002 registered in the office of the
Additional District Sub Registrar at Howrah and recorded in Book-I, Vol
No.85, Pages 210 to 227. |
|
Date of
instrument modifying the charge |
26.06.2010 |
|
Particulars of
the present modification |
By this
modification, charge on above mentioned mortgaged properties of the Company
situated at Premises No.20, Moulana Abul Kalam Azad Road, P.S. Golabari, District
Howrah extended to secure the enhanced overall limit Rs.357.500 Millions
together with interest, costs and charges thereon. All other terms
and conditions continue to remain as before in full force and effect. |
Fixed Assets:
- Building
- Office Equipments
- Computer
- Furniture Fixtures
- Motor 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.50.91 |
|
|
1 |
Rs.81.21 |
|
Euro |
1 |
Rs.67.85 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.