MIRA
INFORM REPORT
|
Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
K.S. COMMODITIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
719, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.07.1998 |
|
|
|
|
Com. Reg. No.: |
55-095261 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.17.625 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999DL1998PTC095261 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELK04959D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in Commodities and Metals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 61424 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
Profit and Loss account for year 2011-2010 are not available. |
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 : |
719, Indra Prakash Building, 21, Barakhamba Road, New Delhi – 110001,
India |
|
Tel. No.: |
91-11-23352070/ 71/ 72/ 43795555 |
|
Fax No.: |
91-11-23352072 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 05.09.2011
|
Name : |
Mr. Aatish Narang |
|
Designation : |
Director |
|
Address : |
E-219, II Floor, Greater Kailash, New Delhi – 110048, India |
|
Date of Birth/Age : |
29.11.11985 |
|
Date of Appointment : |
20.10.2009 |
|
DIN No.: |
00767025 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U74899DL1994PTC062246 |
TRUST
COMMODITIES PRIVATE LIMITED |
Director |
14/12/2006 |
14/12/2006 |
8/6/2009 |
Active |
NO |
|
2 |
U99999DL1998PTC095261 |
K.S.
COMMODITIES PRIVATE LIMITED |
Director |
20/10/2009 |
20/10/2009 |
- |
Active |
NO |
|
Name : |
Mr. Narain Mohan Narang |
|
Designation : |
Director |
|
Address : |
E-219, II Floor, Greater Kailash – I, Nerw Delhi – 110048, India |
|
Date of Birth/Age : |
08.11.1956 |
|
Date of Appointment : |
29.07.1998 |
|
DIN No.: |
00289988 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the
director |
Date of appointment at
current designation |
Original date of
appointment |
Company Status |
Defaulting status |
|
1 |
U99999DL1998PTC095261 |
K.S. COMMODITIES PRIVATE
LIMITED |
Director |
29/07/1998 |
29/07/1998 |
Active |
NO |
|
2 |
U74899DL1994PTC062246 |
TRUST COMMODITIES PRIVATE
LIMITED |
Director |
9/3/2004 |
9/3/2004 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Narain Mohan Narang |
|
787500 |
|
Rita Narang |
|
237500 |
|
Trust Commodities Private Limited, India |
|
250000 |
|
Aatish Narang |
|
125000 |
|
Seema Verma |
|
362500 |
|
Total |
|
1762500 |
AS ON 05.09.2011
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Commodities and Metals. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· Bank of Baroda International Business Branch, Parliament Street, New Delhi - 110001,
India · HDFC Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gopal Mittal and Associates Chartered Accountant |
|
Address : |
301 and 302, IIIrd Floor, 79, Shyam Lal Marg, Daryaganj, New Delhi –
110002, India |
|
Tel No.: |
91-11-23282206 |
|
Telefax No.: |
91-11-23285390 |
|
PAN No.: |
AAAFG9401F |
CAPITAL STRUCTURE
AS ON 24.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Share |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1762500 |
Equity Share |
Rs.10/- each |
Rs.17.625 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 |
17.625 |
17.625 |
12.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.218 |
0.218 |
3.343 |
|
|
4] (Accumulated Losses) |
(2.487) |
(3.339) |
0.000 |
|
|
NETWORTH |
15.356 |
14.504 |
15.843 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
81.628 |
85.808 |
64.338 |
|
|
2] Unsecured Loans |
0.874 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
82.502 |
85.808 |
64.338 |
|
|
DEFERRED TAX LIABILITIES |
0.046 |
0.046 |
0.028 |
|
|
|
|
|
|
|
|
TOTAL |
97.904 |
100.358 |
80.209 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.473 |
1.215 |
1.329 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.016 |
0.005 |
0.005 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
73.985
|
0.000 |
|
|
Sundry Debtors |
47.964
|
1.391
|
61.570 |
|
|
Cash & Bank Balances |
0.302
|
10.405
|
14.314 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
54.793
|
19.804
|
7.583 |
|
Total
Current Assets |
103.059
|
105.585
|
83.467 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
2.800 |
|
|
Other Current Liabilities |
6.644
|
|
0.601 |
|
|
Provisions |
|
3.156
|
1.191 |
|
Total
Current Liabilities |
6.644
|
6.447
|
4.592 |
|
|
Net Current Assets |
96.415
|
99.138
|
78.875 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
97.904 |
100.358 |
80.209 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
REVENUE |
|
989.400 |
956.200 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
|
3.321 |
2.042 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
1.63 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.80
|
6.36
|
4.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
15.51
|
16.38
|
18.18 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate identity number of the company |
U99999DL1998PTC095261 |
|
Name of the company |
K.S. COMMODITIES
PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
719, Indra
Prakash Building, 21, Barakhamba Road, New Delhi –
110001, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of charge holder |
Bank of Baroda |
|
Nature of instrument creating charge |
Composite Hypothecation Agreement dated
06.02.2012 |
|
Date of instrument Creating the charge |
06.02.2012 |
|
Amount secured by the charge |
Rs.30.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest At such rate(s) as are applicable to PC
limit from time to time. Terms of Repayment Payable on demand Margin 25% Extent and Operation of the charge 100% Others To secure all amounts payable under Adhoc Packing
Credit limit of Rs. 30.000 Millions granted to the Company together with all
interests, costs, charges, expenses etc. |
|
Short particulars of the property charged |
Hypothecation of the following: a)The whole of the Borrower's stocks -
both present and future and including but without prejudice to the generality
of the foregoing words, all stocks of raw-materials, work-in-process,
semi-finished goods and finished goods, packing materials, stores etc. such
as stocks of raw-materials, stock-in-progress, semi-finished goods and
finished goods whatsoever and where- soever situate at and/or in transit
whether now belonging to or that may at any time during the continuance of
this security belong to the Borrower or that may be held by any party
anywhere to the order and disposition of the Borrower. b)All the present and future book-debts,
outstandings, monies receivables, claims, bills, contracts, engagements and
securities which are now due and owing or which may at any time hereafter
during the continuance of this security become due and owing to the borrower
in the course of its business by any person, firm, company or body corporate
or by the Govt of India or any State Govt. or Indian Railways or/and Govt.
Deptt. or office or any municipal or local or public or semi govt body or
authority whatsoever including those relating to the assets leased out and/or
given on hire purchased basis. c)All tangible moveable machinery and
plant and cranes, boats and craft and the vehicles of the Borrower together
with spares, tools and accessories and other moveables - both present and
future and the furniture, fixtures and fittings and office equipment whether
installed or not and whether lying loose or in case which are now lying or
stored in or about or shall be brought into or be stored or be in or upon or
about the borrower's premises and godowns or wherever else the same may be or
be held by any party to the order and disposition of the Borrower (including
those on lease or hire purchase) relating or pertaining to the Borrower M/s
K.S. Commodities Pvt. Ltd. having a regd. Office at 719-720, Indraprakash
Building, 21 Barakhamba Road, New Delhi |
|
Corporate
identity number of the company |
U99999DL1998PTC095261 |
|
Name of the
company |
K.S. COMMODITIES PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
719, Indra
Prakash Building, 21, Barakhamba Road, New Delhi –
110001, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
Bank of Baroda International Business
Branch, Parliament Street, New Delhi – 110001, India |
|
Nature of
instrument creating charge |
Composite
Hypothecation Agreement dated 23.07.2011 |
|
Date of
instrument Creating the charge |
23.07.2011 |
|
Amount secured by
the charge |
Rs.35.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: At such rate(s)
as are applicable to PC/CC limits from time to time. Terms of
Repayments: Payable on demand Margin: PC -25%, CC - 30% Extend and
Operation of the charge: 100% Others: To secure all
amounts payable under Adhoc Packing Credit/CC limit of Rs. 35.000 Millions
granted to the Company together with all interests, costs, charges, expenses
etc. |
|
Particulars of
the property charged |
Hypothecation of
the following: a) The whole of
the Borrower's stocks - both present and future and including but without prejudice
to the generality of the foregoing words, all stocks of raw-materials,
work-in-process, semi-finished goods and finished goods, packing materials,
stores etc. such as stocks of raw-materials, stock-in-progress, semi-finished
goods and finished goods whatsoever and wheresoever’s situate at and/or in
transit whether now belonging to or that may at any time during the
continuance of this security belong to the Borrower or that may be held by
any party anywhere to the order and disposition of the Borrower. b) All the
present and future book-debts, outstanding, monies receivables, claims,
bills, contracts, engagements and securities which are now due and owing or
which may at any time hereafter during the continuance of this security
become due and owing to the borrower in the course of its business by any
person, firm, company or body corporate or by the Govt. of India or any State
Govt. or Indian Railways or and Government Department or office or any
municipal or local or public or semi government body or authority whatsoever
including those relating to the assets leased out and/or given on hire
purchased basis. c) All tangible
moveable machinery and plant and cranes, boats and craft and the vehicles of
the Borrower together with spares, tools and accessories and other moveable -
both present and future and the furniture, fixtures and fittings and office
equipment whether installed or not and whether lying loose or in case which
are now lying or stored in or about or shall be brought into or be stored or
be in or upon or about the borrower's premises and godowns or wherever else
the same may be or be held by any party to the order and disposition of the
Borrower (including those on lease or hire purchase) relating or pertaining
to the Borrower M/s K.S. Commodities Private Limited having a regd. office at
719-720, Indraprakash Building, 21 Barakhamba Road, New Delhi, India |
FIXED ASSETS:
· Air Conditioner
· Furniture and Fixture
· Television
· Mobile
· Fax
· Computers
· Car
· Inverter
CMT REPORT (Corruption, Money Laundering and 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.54.29 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.60.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
27 |
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 and 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.