1. Summary Information
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|
|
Country |
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Company Name |
KUMAR
ELASTICS |
Principal Name 1 |
Mrs. Poonam Kumar |
|
Status |
Moderate |
Principal Name 2 |
Mr. B N. Kumar |
|
|
|
Registration # |
-- |
|
Street Address |
2nd Floor,, Khaleal Building, Chickpet,
Bangalore – 560053, Karnataka,
India |
||
|
Year of Establishment : |
1990 |
SIC Code |
-- |
|
Telephone# |
91-80-22208105 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-22381386 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Power Loom Elastic |
|
|
# of employees |
15 (Approximately) |
Product Name 2 |
Woven Tapes |
|
Paid up capital |
Not
Divulged |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
The Karnataka
Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
22 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
Not Divulged |
Net Profit |
-- |
|
Sales(Previous yr) |
Not Divulged |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
23.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
KUMAR ELASTICS |
|
|
|
|
Registered
Office : |
2nd Floor,, Khaleal Building, Chickpet,
Bangalore – 560053, Karnataka |
|
|
|
|
Country : |
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Year of
Establishment : |
1990 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer of Power Loom Elastic and Woven Tapes. |
|
|
|
|
No. of Employees
: |
15 (Approximately) (In Office + In Factory) |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. Mrs. Poonam,
Partner Provided to us few general information and denied to disclose the
financial details of the company. However, Trade relations are reported as
fair. Business is active. Payments are unknown. The company can be considered for business dealings with some
cautions. |
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 |
INFORMATION PARTED BY (GENERAL INFORMATION)
|
Name : |
Mrs. Poonam Kumar |
|
Designation : |
Partner |
|
Contact No.: |
91-80-41283910 |
|
Date : |
21.05.2012 |
LOCATIONS
|
Registered Office : |
2nd Floor,, Khaleal Building, Chickpet,
Bangalore – 560053, Karnataka,
India |
|
Tel. No.: |
91-80-22208105 |
|
Fax No.: |
91-80-22381386 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
94, Industrial Suburb, Yeshwantpur, Bangalore – 560022, Karnataka,
India |
|
Tel. No.: |
91-80-41283910 / 20 / 30 / 40 |
|
Fax No.: |
91-80-23513900 |
|
Area : |
750 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Overseas Representative Office |
2434, E Medicine Lake Road, Plymouth, MN 55441 |
|
Tel. No.: |
1-763-350-4818 / 546-1685 |
|
Fax No.: |
1-463-546-9796 |
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E-Mail : |
|
|
Location : |
|
PARTNERS
|
Name : |
Mr. B N. Kumar |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Poonam Kumar |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Ronak Kumar |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Power Loom Elastic and Woven Tapes. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Malaysia |
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Terms : |
|
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Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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|
|
|
No. of Employees : |
15 (Approximately) (In Office + In Factory) |
|
|
|
|
Bankers : |
The Karnataka Bank Limited, Bangalore, Karnataka, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kincha and Company Chartered Accountants |
|
Address : |
Bangalore, Karnataka, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
-- |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
The above information has been declined by Mrs. Poonam Kumar.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
No |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
No |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
No |
Website Details:
History
Started way back in the seventies is now into third generation of
manufacturers of Narrow Woven Fabrics. Their facility located in Bangalore is
equipped with state of art equipment with warping, rubber covering, weaving and
finishing all under single roof. Having been in business for over 30 years now,
they have developed a wide range of woven products for a multitude of different
end application.
Most of their products are made of Polyester, Cotton and Nylon. They
carry a large inventory of dyed yarns in polyester and cotton, which gives us
the flexibility to delivery sampling requirements in shortest span of time. All
their dyed yarns procured from reputed mills, hence meet all international
standards parameters of AZO free dyes and color fastness levels.
They provide quality elastic and rigid tapes at most reasonable and
competitive prices with timely delivery.
Profile
Kumar elastics, based in Bangalore, is a leading manufacturer of Narrow
Woven Fabrics - Elastics and Rigid Tapes. From widths as narrow as 3mm to as
wide as 300mm are manufactured catering to vast industrial and fashion
applications
They are committed to supply quality products engineered to their
customer’s requirement
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.54.88 |
|
|
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
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.