MIRA
INFORM REPORT
|
Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
KUMAR WORLD TRADE PRIVATE LIMITED |
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Registered
Office : |
A-6, New Narayan Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
17.08.1995 |
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Com. Reg. No.: |
04-027136 |
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Capital
Investment / Paid-up Capital : |
Rs.0.817
Million |
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CIN No.: [Company Identification
No.] |
U45201GJ1995PTC027136 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Exporter of Forging, Pipe, Tube, Elbow, Tee, Socket, Weld,
Screwed, Weld Neck, Reducer, Cap, Stub End, |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 77000 |
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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 record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
A-6, New Narayan Nagar, |
|
Tel. No.: |
91-265-6530608/2251208/5540259 |
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Fax No.: |
91-265-2250583 |
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E-Mail : |
DIRECTORS
AS ON 05.09.2012
|
Name : |
Mr. Navendukum Radheyshyam Shastri |
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Designation : |
Director |
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Address : |
Sukhashray Bunglow, Opposite Tanmay Apartment, |
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Date of Birth/Age : |
11.08.1970 |
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Date of Appointment : |
25.02.1991 |
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Din No.: |
00691859 |
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Other Directorship:
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Name : |
Mr. Viwasvatkum Radheyshyam Shastri |
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Designation : |
Director |
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Address : |
Sukhashray Bunglow, Opposite Tanmay Apartment, |
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Date of Birth/Age : |
08.02.1974 |
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Date of Appointment : |
27.09.2002 |
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Din No.: |
00691785 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Navendukum Radheyshyam Shastri |
|
50010 |
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Viwasvatkum Radheyshyam Shastri |
|
5010 |
|
Munesh Radheyshyam Shastri |
|
50 |
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|
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TOTAL
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|
55070 |
AS ON 05.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Exporter of Forging, Pipe, Tube, Elbow, Tee, Socket, Weld,
Screwed, Weld Neck, Reducer, Cap, Stub End, |
GENERAL INFORMATION
|
Suppliers : |
·
Alif Traders ·
Asian Computers ·
Chain Centre ·
D.C. Parikh and Company ·
Deepak Minerals ·
Dinesh Mehta and Company ·
Interport Impex Private Limited ·
Krishna Barrels Company ·
Mayuri Enterprises ·
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Customers : |
·
Arab Iron and Steel Corporation ·
G K Steel ·
International Quality Steel LLC ·
Oceanic Impex Fze ·
Salman Johar AI-Johar Scrap Melting ·
S R Steel Private Limited ·
Export Incentive R’ble ·
Tema Steel Company Limited ·
Hill Metals Est. ·
Melwire Rolling Private Limited |
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No. of Employees : |
Not Available |
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Bankers : |
·
The Karur Vysya Bank Limited, 13, ·
The Royal Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D.C. Parikh and Company Chartered Accountants |
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Address : |
307, Payal Complex, Tower D, Near Stock Exchange, Vadodara-390005, |
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Tel. No.: |
91-265-2361914 |
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Fax No.: |
91-265-2362389 |
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PAN No: |
ACTPP2402L |
CAPITAL STRUCTURE
AS ON 05.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
55070 |
Equity Shares |
Rs.10/- each
|
Rs.0.550
Million |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
81700 |
Equity Shares |
Rs.10/- each
|
Rs.0.817
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.817 |
0.817 |
0.817 |
|
|
2] Share Application Money |
0.000 |
0.133 |
0.133 |
|
|
3] Reserves & Surplus |
18.443 |
16.472 |
15.128 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
19.260 |
17.422 |
16.078 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.993 |
12.643 |
5.378 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
24.993 |
12.643 |
5.378 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.001 |
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TOTAL |
44.253 |
30.065 |
21.457 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.726 |
2.225 |
0.735 |
|
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Capital work-in-progress |
7.258 |
0.000 |
0.000 |
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INVESTMENT |
0.017 |
0.017 |
0.017 |
|
|
DEFERREX TAX ASSETS |
0.093 |
0.035 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
19.017
|
4.628 |
9.065 |
|
|
Sundry Debtors |
44.179
|
35.644 |
5.152 |
|
|
Cash & Bank Balances |
0.600
|
0.219 |
2.654 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
21.612
|
10.379 |
8.552 |
|
Total
Current Assets |
85.408
|
50.870 |
25.423 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
46.785
|
21.236 |
|
|
|
Other Current Liabilities |
0.126
|
(0.077) |
4.454 |
|
|
Provisions |
3.338
|
1.923 |
0.264 |
|
Total
Current Liabilities |
50.249
|
23.082 |
4.718 |
|
|
Net Current Assets |
35.159
|
27.788 |
20.705 |
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
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|
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TOTAL |
44.253 |
30.065 |
21.457 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
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|
SALES |
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Income |
|
|
|
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Other Income |
|
|
|
|
|
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TOTAL |
217.989 |
146.594 |
75.729 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
215.035 |
144.714 |
74.941 |
|
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|
PROFIT / (LOSS)
BEFORE TAX |
2.954 |
1.880 |
0.788 |
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|
|
Less |
TAX |
0.983 |
0.537 |
0.283 |
|
|
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PROFIT / (LOSS) AFTER
TAX |
1.971 |
1.343 |
0.505 |
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.472 |
15.128 |
14.623 |
|
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|
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|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
18.443 |
16.471 |
15.128 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
24.12 |
16.44 |
6.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.90
|
0.92 |
0.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.39
|
3.54 |
3.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.11 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.91
|
2.05 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
2.20 |
5.39 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The registered office of the company has been shifted from
5, New Narayan Nagar,
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80002538 |
|
Corporate
identity number of the company |
U45201GJ1995PTC027136 |
|
Name of the
company |
KUMAR WORLD TRADE
PVT LTD |
|
Address of the
registered office or of the principal place of business in |
A-6, New Narayan Nagar, |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Others |
|
Particular of
charge holder |
The Karur Vysya Bank Limited, 13, Email: vadodara@kvbmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
credit facilities |
|
Date of instrument
Creating the charge |
23.11.2011 |
|
Amount secured by
the charge |
Rs.55.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per agreement
for credit facilities Terms of Repayment As per agreement
for credit facilities Margin As per agreement
for credit facilities Extent and Operation of the charge Credit facilities
are secured as per documents dated 23-11-2011 |
|
Short particulars
of the property charged |
Stock situated at
factory, godown or other premises at Asoj, Plant and
machinery, articles situated at factory, godown or other premises at Asoj,
Vadodara-Halol Road, District Vadodara or any other premises or in transit or
delivery Present and
future book debts, outstanding monies, receivables, claims, bills, rights to
movable assets |
|
Date of latest
modification prior to the present modification |
30.10.2010 |
|
Particulars of
the present modification |
on execution of
agreement for credit facilities dated 30-10-2010, following credit facilities
are secured: 1. PCFC/PCL:
Rs. 35.000 Millions clean PCL sub limit (Rs.5.000 Millions) 2. FBG : Rs. 3.000 Millions 3. ILC / FLC
: Rs. 10.000 Millions 4. Credit
equivalent limit for booking forward purchase contracts : Rs. 6.250 Millions 5. Credit
equivalent limit for booking forward sale contracts : Rs. 1.250 Millions Total Rs. 55.500
Millions |
FIXED ASSETS:
·
Office Furniture
·
Office Equipments
·
Computer
·
Hero Honda
·
Motor Car
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 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 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.54.96 |
|
|
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.70.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
4 |
|
--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 |
|
44 |
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.