MIRA
INFORM REPORT
|
Report Date : |
18.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
KAYBEE INDUSTRIAL ALLOYS (PRIVATE) LIMITED |
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Registered
Office : |
8, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.05.1988 |
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Com. Reg. No.: |
21-044318 |
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Capital
Investment/ Paid-up Capital: |
Rs.13.815 Millions |
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CIN No.: [Company Identification
No.] |
U27109WB1988PTC044318 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALK01256D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Sponge Iron and Ferro Alloys. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1674000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
8, |
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Tel. No.: |
91-33-22103032 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
33, |
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Tel. No.: |
91-33-40009400-418 |
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Fax No.: |
91-33-40009419 |
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E-Mail : |
vinodsmahipal@kaybeealloys.com
vijay.mahipal@kaybee-group.co.in
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DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vinod Mahipal |
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Designation : |
Managing Director |
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Address : |
P 198, Block A, |
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Date of Birth/Age : |
26.02.1967 |
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Date of Appointment : |
03.05.1988 |
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Din No.: |
00840580 |
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Other Directorship:
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Name : |
Mr. Manoj Mahipal |
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Designation : |
Director |
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Address : |
P 198, Block A, |
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Date of Birth/Age : |
17.09.1972 |
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Date of Appointment : |
01.08.1997 |
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Din No.: |
00840608 |
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Other Directorship:
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Name : |
Mr. Pawan Mahipal |
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Designation : |
Director |
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Address : |
P 198, Block A, |
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Date of Birth/Age : |
01.07.1975 |
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Date of Appointment : |
01.04.2002 |
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Din No.: |
01291810 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Kishan Lal Mahipal |
43200 |
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Vinod Mahipal |
153100 |
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Harish Agarwal |
23000 |
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Rajendra Kumar Agarwal |
40500 |
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Indramani Devi Agarwal (As Partner of Indsutrial Alloys) |
10000 |
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Indramani Devi Mahipal |
10000 |
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Vijay Mahipal |
48650 |
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Rita Mahipal |
57500 |
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Manoj Mahipal |
38000 |
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Pawan Mahipal |
53000 |
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K. L. Mahipal and Sons(HUF) |
6000 |
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Hari Om Goel |
11500 |
|
Jay Resources Private Limited |
25000 |
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Ajay Kumar Agarwal |
10000 |
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Kazi Aniauz Zaman |
54000 |
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P. T. Investment Private Limited, |
8000 |
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I B M Infrastructure Private Limited |
51945 |
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Kay Bee Alloys Private Limited, |
199000 |
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Industrial Alloys ( |
203900 |
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V P M Infocom Private Limited |
46800 |
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Kay Bee Ferro Alloys Private Limited |
204400 |
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Sweta Holdings Private Limited, |
34000 |
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Rajmahidir Estate Private Limited, |
10000 |
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Jugantar Mercantiles Private Limited, |
10000 |
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Vanraj Merchants Private Limited, |
10000 |
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Maple Merchantile Private Limited, |
10000 |
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Dhanvanti Commodities Private Limited, |
10000 |
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Total |
1381495 |
As on 30.09.2011
|
Category |
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Percentage |
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Bodies corporate |
|
66.34 |
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Directors or relatives of directors |
|
33.66 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Sponge Iron and Ferro Alloys. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Corporation Bank, Dharmatalla
Branch, 8, Lenin Sarani, Kolkata – 700 013, West |
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Facilities : |
Rs.in
Millions
Note:
·
Corporation Bank CC A/c Rs.23.719 Millions SDL
From Corporation Bank Rs.0 PCL from Corporation Bank Rs.0 Corporation Bank
against L/C Rs.37.105 Millions ·
Corporation Bank CC A/c Rs.16.701Millions SDL
From Corporation Bank Rs.7.500 Millions PCL from Corporation Bank Rs.59.992
Millions Corporation Bank against L/C Rs.0
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Keshri and Associates Chartered Accountant |
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Address : |
50, |
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Pan No. : |
AETPK7715F |
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Associates/Subsidiaries : |
·
CIN No.:
U27109WB1995PLC074000 ·
Industrial Alloys (I) Private. Limited. CIN No.:
U27106WB1988PTC045060 ·
Kay Bee Ferro- Alloys Private Limited CIN No.:
U27100WB2008PTC129320 ·
Kaybee Alloys Private Limited CIN No.:
U27100WB2007PTC115096 ·
Vpm Infocom Private Limited CIN No.:
U72200WB2010PTC143527 ·
Ibm Infrastructure Private Limited CIN
No.:U45400WB2010PTC145135 ·
Kay Bee Marketing and Consultant ·
Kishan Lal Mahipal And Sons |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
2000000 |
Equity Share |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1381495 |
Equity Share |
Rs.10/- each |
Rs.13.815
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.303.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
13.815 |
13.815 |
12.895 |
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2] Share Application Money |
0.000 |
0.000 |
4.790 |
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3] Reserves & Surplus |
404.590 |
317.528 |
234.404 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
418.405 |
331.343 |
252.089 |
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LOAN FUNDS |
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1] Secured Loans |
60.824 |
84.193 |
3.112 |
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2] Unsecured Loans |
61.398 |
52.481 |
49.169 |
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TOTAL BORROWING |
122.222 |
136.674 |
52.281 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
540.627 |
468.017 |
304.370 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23.678 |
6.398 |
5.017 |
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Capital work-in-progress |
0.069 |
0.069 |
0.069 |
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INVESTMENT |
12.820 |
7.253 |
8.554 |
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DEFERREX TAX ASSETS |
0.239 |
0.135 |
0.091 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
100.874
|
126.537
|
82.773
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Sundry Debtors |
276.325
|
170.745
|
241.981
|
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Cash & Bank Balances |
72.995
|
43.160
|
63.325
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Other Current Assets |
0.000
|
0.000
|
0.000
|
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Loans & Advances |
179.269
|
248.616
|
115.502
|
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Total
Current Assets |
629.463
|
589.058 |
503.581 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
41.155
|
54.770
|
104.522 |
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Other Current Liabilities |
40.723
|
38.301
|
36.782 |
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Provisions |
43.788
|
41.852
|
71.667 |
|
Total
Current Liabilities |
125.666
|
134.923 |
212.971 |
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Net Current Assets |
503.797
|
454.135 |
290.610 |
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MISCELLANEOUS EXPENSES |
0.024 |
0.027 |
0.030 |
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TOTAL |
540.627 |
468.017 |
343.370 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
NA |
|
NA |
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Other Income |
NA |
|
NA |
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TOTAL (A) |
NA |
1761.88 |
NA |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
NA |
1640.286 |
NA |
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Advertising Expenses |
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TOTAL (B) |
NA |
1640.286 |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
130.746 |
121.402 |
204.257 |
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Less |
TAX (H) |
43.685 |
41.959 |
72.415 |
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PROFIT AFTER TAX
(G-H) (I) |
87.061 |
79.443 |
131.842 |
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BALANCE CARRIED
TO THE B/S |
39.329 |
52.268 |
72.825 |
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Earnings Per
Share (Rs.) |
63.02 |
57.50 |
102.24 |
|
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%20LIMITED%20%20-180585%2018-May-2012_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
4.51
|
NA |
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
20.02
|
20.39
|
40.16 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.37
|
0.81
|
|
|
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Debt Equity Ratio (Total Liability/Networth) |
|
0.59
|
0.81
|
1.05
|
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|
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|
|
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Current Ratio (Current Asset/Current Liability) |
|
1.25
|
4.36
|
2.36
|
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
No |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last One year |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
No |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
FINANCIAL RESULTS:
Year ended Year ended 31.03.2011 31.03.2010 (Rs.) (Rs.) Profit/(Loss)Before Tax : 130.746 Millions 121.402 Millons Profit/(Loss)After Tax : 87.061Millions 79.443 Millions Balance Carried To : 39.329 52.267
Balance Sheet
Contingent Liability:
Contingent liabilities not provided in respect of Call due on shares Rs.0.050 Million previous year Rs.0.050 Million - Bill discounted Rs.65.499 MIllions- Previous year Rs.114.973 Millions Provision for gratuity payable has not been made. It would be accounted for in the year in which liability arises Provision for DEPB has not been made, it would be accounted for when it will be received
FORM 8
|
Corporate
identity number of the company |
U27109WB1988PTC044318 |
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|
Name of the
company |
KAYBEE INDUSTRIAL ALLOYS (PRIVATE) LIMITED |
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Address of the
registered office or of the principal place of business in |
8, Email: kaybeeca@vsnl.com |
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|
This form is for |
Modification of
Charge |
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|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge Others |
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|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
Common deed of
hypothecation of movable/assets/debts Guarantee
agreement Continuity letter |
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Date of
instrument Creating the charge |
24.09.2009 |
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|
Amount secured by
the charge |
Rs.538.000
Millions |
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|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit: COBAR+0.25%
i.e., 12.25% p.a. at present subject to revision from time to time. Rate of
interest applicable to other limits are specified in credit sanction
intimation Terms of Repayment Working capital
limits is repayable on demand Margin As stipulated by
the bank for the respective assets from time to time Cash Credit Stock 25% Book debts- 40% PCL/PCFC: 10% on
FOB Value Bank Guarantee
(Cash Margin) : 25% (Existing) Inland/Import LC
(Cash Margin): Inland/Import LC 10% (Reduction from 20%) SBLC : 20% Extent and Operation of the charge The charge
operates as first charge basis on the whole of the hypothecated current
assets and movable fixed assets of the company both present and future and
mortgage properties of the company to
secure the maximum amount under the said charge fixed at Rs. 538.000 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. The overall limit
is also secured by corporate guarantee of Industrial Alloys ( |
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|
Short particulars
of the property charged (Including location of the property) |
·
Land
admeasuring about 33 cottah 14 ch sft. 900 sq. ft. situated at Holding No. 7,
T N Mukherjee Road, Mouza Uttarpara, P.S. Uttarpara, Word No. 07 District
Hooghly in the state of west |
||||||
|
Date of
instrument modifying the charge |
25.04.2008 |
||||||
|
Particulars of
the present modification |
By this
modification, the overall limit is enhanced from Rs. 388.000 millions to Rs. 538.000
Millions as stated under Cash Credit- Rs.
20.000 Millions PCL/PCFC- Rs.
40.000 Millions FDBN/FDBP – Rs.
55.000 Millions BE under LC- Rs.
25.000 Millions Bank
Guarantee Rs. 3.000 Millions Inland/Import LC-
Rs. 150.000 Millions Forward Forward Purchase
Contract – Rs. 95.000 Millions Overall Limite –
Rs. 538.000 Millions |
FIXED ASSETS :
- Land
- Plant and Machinery
- Electrical Installation
- Furnace
- Factory Shed
- Furniture and Fixture
- Typewriter
- Office Equipment
- Magnetic Seperator
- Computer
- Fax Machine
- Motor Car
- Air Conditioners
- Generator
- H P Motor
- Coffee Machine
- Refrigerator
AS PER WEB SITE DETAILS:
PROFILE
Subject is a private owned Limited company dealing in Ferro alloys for last more then 30 years. It is a family business started by Late Shri Kishan Lal Mahipal and since then has been constantly progressing. The Promoters are committed to provide best of services to their customers and also for constant improvement in technology and services. THAT’S how it has created high reputation among the people in its Industry. The management also has commitment and obligation towards society and Environment which is never ignored. The promoters are associated with various organization for betterment of society.
The company was formed in the Year 1982 initially for small trading in few ferro alloys. It has been adding various other products as per the customer’s demand and has also diversified its business in other lucrative areas. The main customers are the Steel Plants, Foundries, and Welding Electrode Industry. The company is having wide experience in International trade however in such short time has created a very good name for itself. This has been possible because of Timely shipment, Quality material and Competitive prices.
They are committed to meet customer’s requirement complying with not only the needs of their customer but exceeding their Expectation and at right time, every time and at competitive price through involvement and innovations.
They are also committed for continual improvement through
reviewing and updating of all processes to take care of technological
improvements and changing needs of Business.
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.54.39 |
|
|
1 |
Rs.86.56 |
|
Euro |
1 |
Rs.69.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
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.