MIRA
INFORM REPORT
|
Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KALPATARU ISPAT
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
508, Gupta Bhavan,
Ahmedabad Street, Carnac Bunder, Mumbai – 400 009, Maharashtra |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.07.1996 |
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|
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Com. Reg. No.: |
11-100718 |
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Capital Investment
/ Paid-up Capital : |
Rs.1.115
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104MH1996PTC100718 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Trader of Iron and Steel. |
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|
|
|
No. of Employees
: |
6 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 62000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. There
appears slight dip in sales turnover and the company has incurred some loss
during 2011-2012. The external borrowing seems to be increasing over years. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Bharat P. Mehta |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-23487633 |
|
Date : |
20.04.2013 |
LOCATIONS
|
Registered Office : |
508, Gupta
Bhavan, Ahmedabad Street, Carnac Bunder, Mumbai – 400 009, Maharashtra, India
|
|
Tel. No.: |
91-22-23487633/ 30297608 |
|
Fax No.: |
91-22-23483433 |
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E-Mail : |
|
|
Location : |
Rented |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Vijay Purushottam Gaggar |
|
Designation : |
Director |
|
Address : |
126/3523, Pant Nagar, Ghatkopar (East), Mumbai – 400 075, Maharashtra,
India |
|
Date of Birth/Age : |
16.01.1962 |
|
Date of Appointment : |
01.07.1996 |
|
DIN No.: |
00252600 |
|
|
|
|
Name : |
Mr. Vinay Purushottam Gaggar |
|
Designation : |
Director |
|
Address : |
292/1, Shival Nagar Co-Operative Housing Society, Pant Nagar,
Ghatkopar (East), Mumbai – 400 075, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1966 |
|
Date of Appointment : |
01.01.1998 |
|
DIN No.: |
00231375 |
KEY EXECUTIVES
|
Name : |
Mr. Bharat P. Mehta |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Purushottam N. Gaggar HUF |
|
11000 |
|
Purushottam N. Gaggar |
|
20100 |
|
Gopal Krishna N. Gaggar |
|
1000 |
|
Vijay P. Gaggar |
|
32600 |
|
Vinay P. Gaggar |
|
32500 |
|
Snehalata P. Gaggar |
|
10000 |
|
Premlata V. Gaggar |
|
1000 |
|
Sunita V. Gaggar |
|
2500 |
|
Vijay Kumar Gaggar HUF |
|
200 |
|
Vinay Kumar Gaggar HUF |
|
200 |
|
P.N. Gaggar and G.K. Gaggar HUF |
|
400 |
|
Total |
|
111500 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Iron and Steel. |
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|
|
|
|
·
Steel ·
Shaft Collar ·
Structure ·
Billet ·
Blooms ·
Angle ·
Channel ·
Wire Rods ·
Pig Irons ·
Alloy Steel Rounds ·
MS Round ·
Special Steel Rounds |
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|
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
6 (Approximately) |
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Bankers : |
·
The Bank of Rajasthan Limited, Fort Branch;
Cawasji Patel Street, Fort, Mumbai – 400 001, Maharashtra, India ·
The Dhanlakshmi Bank Limited, Janmabhoomi Bhavan,
Janmabhoomi Marg, Fort, Mumbai – 400 001, Maharashtra, India |
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Facilities : |
|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B.R. Bhandari and Company Chartered Accountants |
|
Address : |
293/26, Sopariwala House, 2nd Floor, Princess Street,
Mumbai – 400 002, Maharashtra, India |
|
Tel. No.: |
91-22-22063020/ 66343852 |
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sE-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFB1264B |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each
|
Rs.2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
111500 |
Equity Shares |
Rs.10/- each
|
Rs.1.115
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 |
1.115 |
1.115 |
1.115 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.400 |
14.650 |
11.159 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.515 |
15.765 |
12.274 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.819 |
6.545 |
4.596 |
|
|
2] Unsecured Loans |
41.949 |
27.168 |
29.900 |
|
|
TOTAL BORROWING |
47.768 |
33.713 |
34.496 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
63.283 |
49.478 |
46.770 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
0.887 |
0.535 |
0.681 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.362
|
13.864 |
34.458 |
|
|
Sundry Debtors |
57.490
|
79.931 |
46.337 |
|
|
Cash & Bank Balances |
0.539
|
0.911 |
2.287 |
|
|
Other Current Assets |
1.771
|
5.144 |
0.000 |
|
|
Loans & Advances |
0.159
|
5.141 |
4.283 |
|
Total
Current Assets |
87.321
|
104.991 |
87.365 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
24.260
|
47.888 |
34.246 |
|
|
Other Current Liabilities |
0.665
|
3.979 |
4.649 |
|
|
Provisions |
0.000
|
4.181 |
2.381 |
|
Total
Current Liabilities |
24.925
|
56.048 |
41.276 |
|
|
Net Current Assets |
62.396
|
48.943 |
46.089 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
63.283 |
49.478 |
46.770 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
211.311 |
371.701 |
209.108 |
|
|
|
Other Income |
3.369 |
1.548 |
1.833 |
|
|
|
Increase/ Decrease in Stock |
13.498 |
(20.594) |
24.987 |
|
|
|
TOTAL (A) |
228.178 |
352.655 |
235.928 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
341.597 |
228.812 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
221.968 |
341.597 |
228.812 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.210 |
11.058 |
7.116 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
6.396 |
5.539 |
3.474 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(0.186) |
5.519 |
3.642 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.124 |
0.161 |
0.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(0.310) |
5.358 |
3.436 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.060) |
1.867 |
1.121 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(0.250) |
3.491 |
2.315 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.24) |
31.31 |
20.76 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
340.000 |
|
|
|
|
|
The above information has been parted by Mr. Bharat P. Mehta (Accounts
Department).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.11)
|
0.99 |
0.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.15)
|
1.44 |
1.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.35)
|
5.08 |
3.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02)
|
0.34 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.08
|
2.14 |
2.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.50
|
1.87 |
2.12 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- For Goods |
18.790 |
|
34.246 |
|
- For Expenses |
0.152 |
8.142 |
|
|
- Others |
5.318 |
0.000 |
|
|
Total |
24.260 |
47.888 |
34.246 |
|
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last four 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 |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
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)
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 |
|
Unsecured Loans |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
From Directors
and Shareholders |
41.949 |
27.168 |
|
Total |
41.949 |
27.168 |
OPERATIONS:
During the financial
year the Company was going through recessionary period due to which the
Company's total income has been declined by 35.30% i.e. to Rs.228.178 millions
as compared to total income of Rs.352.655
millions in previous financial year. Due to such decline in sales the Company
has incurred loss after tax of Rs.0.250 million as compared to profit after tax
of Rs.3.491 millions during the previous year. The Directors are taking
necessary steps to come out from recessionary effect and to make Company profitable.
FIXED ASSETS:
·
Air Conditioner
·
Computer
·
Fridge
·
Furniture and Fixtures
·
Motor Car
·
Fax Machine
·
Printer
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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.