|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KATTI-MA EXPORTS
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office-A, 9th
Floor, “The Rain Tree Place”, No.9, Mc. Nichols Road, Chetpet, Chennai – 600031,
Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.03.1999 |
|
|
|
|
Com. Reg. No.: |
18-42081 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51399TN1999PTC042081 |
|
|
|
|
TIN No.: |
33230541031 |
|
|
|
|
PAN No.: [Permanent Account No.] |
CHEK00778B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter
of Granite Monuments and also Merchant Exporter of Granite Rough Blocks,
Landscaping Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1960000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
- established and reputed company having a fine track record. It is a part of
Katti-Ma Group. Trade relations are decent. General financial position is
sound and healthy. Business is active. Payments are reported as regular and
as per commitments. The company can
be considered good for normal 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced controls
on foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of
persistently high inflation and interest rates and little progress on economic
reforms. High international crude prices have exacerbated the government's fuel
subsidy expenditures contributing to a higher fiscal deficit, and a worsening
current account deficit. Little economic reform took place in 2011 largely due
to corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
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/ Head Office : |
Office-A, 9th
Floor, “The Rain Tree Place”, No.9, Mc. Nichols Road, Chetpet, Chennai –
600031, Tamilnadu, India |
|
Tel. No.: |
91-44-28363545 (4 Lines) |
|
Fax No.: |
91-44-28363553/ 28363554 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate
Office : |
9 MC Nicholas Road,
Chetpet, Chennai – 600031, Tamilnadu, India |
|
Tel. No.: |
91-44-28237505/
2822206 |
|
|
|
|
Factory : |
803/5, DIC,
Kuthambakkam, Thiruvalluvar District – 602107, Tamilnadu, India |
|
Tel. No.: |
91-44-26811313 |
|
Fax No.: |
91-44-26811690 |
|
Email : |
|
|
|
|
|
Branches: |
Katti Ma Centre,
2001 Indra Nagar, 100 Feet Road, HAL, 2nd Stage, Bangalore – 560
038, Karnataka, India |
|
Tel No.: |
91-80-41469912/25279382 |
|
|
|
|
Overseas
Offices: |
1309, 2-3-6 Tate
, |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Kanaparambil
Sadasivadas Gokuldas |
|
Designation : |
Managing Director
|
|
Address : |
Kalyan No.18 Sulaiman
Zackhria Avenye, Casa Major Road, Egmore – 600008, Tamilnadu, India |
|
Date of
Birth/Age : |
20.10.1936 |
|
Date of
Appointment : |
18.03.1999 |
|
DIN No.: |
00001306 |
|
|
|
|
Name : |
Mr. Gokuldas
Kalyan Kumar |
|
Designation : |
Director |
|
Address : |
Kalyan No.18
Sulaiman Zackhria Avenye, Casa Major Road, Egmore – 600008, Tamilnadu, India |
|
Date of
Birth/Age : |
23.01.1967 |
|
Date of
Appointment : |
18.03.1999 |
|
DIN No.: |
00001309 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Kanaparambil
Sadasivadas Gokuldas |
|
510000 |
|
Gokuldas Kalyan
Kumar |
|
490000 |
|
|
|
|
|
Total |
|
1000000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter
of Granite Monuments and also Merchant Exporter of Granite Rough Blocks, Landscaping
Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
State Bank of India Overseas Branch, No.89 Rajaji Salai, Chennai – 600001, Tamilnadu,
India · The Karur Vysya Bank Limited 46, Armenian Street, Chennai Main Branch, Chennai – 600001, Tamilnadu, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Khemka and
Company Chartered
Accountants |
|
Address : |
No. 873, Poonamallee
High Road, Opposite Nehru Park, 2nd Floor, Kilpauk, Chennai –
600084, Tamilnadu, India0020 |
|
Tel No.: |
91-44-42174148 |
|
Mobile No.: |
91-9840154800 |
|
PAN No.: |
AAGFK4485M |
|
Email : |
|
|
|
|
|
Associates-Group Company : |
· KJ Quarries Private Limited |
|
|
|
|
Associates/Subsidiaries : |
·
Katti-Ma
Private Limited (CIN No. U14102TN2000PTC046201) · Katti-Ma Viswhwakarma Developers Private Limited Address: Office-A, 9th Floor, “The Rain Tree Place”, No.9, Mc. Nichols Road, Chetpet, Chennai – 600031, Tamilnadu (CIN No. U45209TN2005PTC058389) |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
|
|
|
|
|
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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
481.126 |
234.068 |
217.240 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
491.126 |
244.068 |
227.240 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
41.350 |
41.491 |
32.463 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
41.350 |
41.491 |
32.463 |
|
|
DEFERRED TAX LIABILITIES |
0.294 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
532.770 |
285.559 |
259.703 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
97.307 |
75.183 |
20.131 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
185.317 |
128.790 |
132.095 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.965
|
30.939 |
32.991 |
|
|
Sundry Debtors |
39.050
|
34.722 |
40.813 |
|
|
Cash & Bank Balances |
15.582
|
13.540 |
15.997 |
|
|
Other Current Assets |
247.881
|
0.074 |
0.655 |
|
|
Loans & Advances |
54.337
|
61.446 |
41.339 |
|
Total
Current Assets |
388.815
|
140.721 |
131.795 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
66.035
|
56.643 |
12.193 |
|
|
Other Current Liabilities |
8.833
|
0.000 |
0.000 |
|
|
Provisions |
63.801
|
2.492 |
12.125 |
|
Total
Current Liabilities |
138.669
|
59.135 |
24.318 |
|
|
Net Current Assets |
250.146
|
81.586 |
107.477 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
532.770 |
285.559 |
259.703 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
146.693 |
121.830 |
120.656 |
|
|
|
Other Income |
337.156 |
11.977 |
NA |
|
|
|
TOTAL |
483.849 |
133.807 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
171.956 |
123.665 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
311.893 |
10.142 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.836 |
2.249 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
310.057 |
7.893 |
7.156 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
62.100 |
1.050 |
0.725 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
247.957 |
6.843 |
6.431 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
33.769 |
26.415 |
30.134 |
|
|
|
|
|
|
|
|
|
Add |
MAT CREDIT |
NA |
0.511 |
0.095 |
|
|
|
|
|
|
|
|
|
|
PROVISION OF BAD
DEBT |
NA |
-- |
(10.245) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
33.769 |
26.415 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
247.957 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
51.25
|
5.11 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
211.36
|
6.48 |
5.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
63.78
|
3.66 |
4.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.63
|
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.08
|
0.17 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.80
|
2.38 |
5.42 |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
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] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL HIGHLIGHT
The group’s activity is Granite business companies
of (1) Exports of Granite Mouments (2) Merchant exporter of Granite Rough
Block, Landscaping products and (3) Quarrying of rough block. Of these.
Katti-ma Exporter Private Limited handles first two activities while the third
activity is handles by its subsidiary K J Quarries Private Limited. Besides,
the company is activity is property development directly and also through its
Subsidiary Katt-ma Vishwakarma Developers Private Limited
OPERATIONS
OF THE COMPANY:
The
Company produces Granite Monuments from both its units located at Sennerkuppam
and Kuthambakkam of which vacant debonded land at Kuthambakkam unit is being
developed into Logistics Park with an Investment capital of Rs.200.000
Millions. Besides the company is also venturing into commercial and Residential
property development on its own and also as SPV.s with other developers.
During
the financial year 2011-2012, the company has earned a net revenue of
Rs.483.849 Millions of which Rs.146.693 Millions is by way of export business
(compared to Rs.121.830 Millions during the previous year) and Rs.337.156
Millions is other Income by way of Tax Free Dividends, Long Term Capital Gains,
Interest on Fixed Deposits and sales of land comprising net of Rs.404.175
Millions (compared to the previous financial year of Rs.11.977 Millions). The
profit after tax for the financial year is Rs.247.957 Millions compared to
Rs.6.843 Millions for the previous year.
FIXED ASSETS:
· Land – Freehold
·
·
· Plant and Machinery
· Computers
· Office Equipments
· Furniture and Fixtures
· Vehicles
· Electrical Fittings
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 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.54.65 |
|
UK Pound |
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.