|
Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KALABHAI KARSON
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
256, S.V.P.
Road, Mumbai – 400 004, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.02.1983 |
|
|
|
|
Com. Reg. No.: |
11-029249 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.500
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1983PTC029249 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of high quality dental plaster and dental laboratory materials. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 30000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having a satisfactory track record. 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. Profit & Loss
A/c for the year 2012 is not available. |
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 |
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 : |
256, S.V.P.
Road, Mumbai – 400 004, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
43/44, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai – 400 079,
Maharashtra, India |
|
Tel. No.: |
91-22-25774058/ 59, 25781823/ 3739 |
|
Fax No.: |
91-22-25799121 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rajendra Govindji Nandwana |
|
Designation : |
Director |
|
Address : |
26, Valentina, N. Gamadia Road, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
17.06.1948 |
|
Date of Appointment : |
04.02.1983 |
|
DIN No.: |
00003147 |
|
|
|
|
Name : |
Mr. Aditya Rajendra Nandwana |
|
Designation : |
Director |
|
Address : |
26, Valentina, N. Gamadia Road, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
28.06.1981 |
|
Date of Appointment : |
13.06.2008 |
|
DIN No.: |
00003150 |
|
|
|
|
Name : |
Mrs. Shanti Rajendra Nandwana |
|
Designation : |
Director |
|
Address : |
26, Valentina, N. Gamadia Road, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
22.06.1950 |
|
Date of Appointment : |
04.02.1983 |
|
DIN No.: |
00003282 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Govindji Kalabhai Nandwana |
|
2500 |
|
Rajendra Govindji Nandwana |
|
9500 |
|
Shanti Rajendra Nandwana |
|
9500 |
|
Rajendra Govindji Nandwana HUF |
|
28500 |
|
Total |
|
50000 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of high quality dental plaster and dental laboratory materials. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Union Bank of India Limited, Mahajan Mills
Compound, LBS MARG, Vikhroli (West), Mumbai – 400 079, Maharashtra, India ·
HDFC
Bank Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
* The Term Loan is repayable in monthly installments of Rs.0.050
million. Interest is payable @ BPLR plus 3.75% on monthly basis. The Term
Loan is repayable in 60 monthly installments from July 2009 to June 2014. The
Term Loan is secured by hypothecation of Plant and Machinery and personal
guarantee of two Directors. During the year the Company has made prepayment
of Rs.1.000 million in addition to the regular monthly installments. ** The Vehicle Loan amounting to Rs.0.460 million is repayable in 36
monthly installments starting from November 2011 and carries interest @ of
11.25%. The Loans is secured against hypothecation of specific Motor Car and
personal guarantee of the Director) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.P. Asher and Company Chartered Accountants |
|
Address : |
Vela Kutir, Plot No.25, V.M. Road, JVPD Scheme, Vile Parle (West),
Mumbai – 400 056, Maharashtra, India |
|
Tel. No.: |
91-22-26192153 |
|
Fax No.: |
91-22-26192153 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AACPA5266E |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
|
5000 |
Unclassified Shares |
Rs.10/- each |
Rs.0.050 million |
|
|
Total
|
|
Rs.1.050
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
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 |
0.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.122 |
5.432 |
4.343 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.622 |
5.932 |
4.843 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.259 |
1.500 |
3.592 |
|
|
2] Unsecured Loans |
6.421 |
4.226 |
3.146 |
|
|
TOTAL BORROWING |
6.680 |
5.726 |
6.738 |
|
|
DEFERRED TAX LIABILITIES |
0.301 |
0.228 |
0.225 |
|
|
|
|
|
|
|
|
TOTAL |
14.603 |
11.886 |
11.806 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.645 |
8.635 |
6.826 |
|
|
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 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.379
|
6.382 |
6.590 |
|
|
Sundry Debtors |
0.832
|
0.806 |
0.250 |
|
|
Cash & Bank Balances |
7.082
|
4.828 |
5.366 |
|
|
Other Current Assets |
0.269
|
0.284 |
0.000 |
|
|
Loans & Advances |
0.240
|
0.627 |
2.156 |
|
Total
Current Assets |
15.802
|
12.927 |
14.362 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.614
|
3.723 |
3.039 |
|
|
Other Current Liabilities |
5.617
|
4.428 |
4.246 |
|
|
Provisions |
1.613
|
1.525 |
2.097 |
|
Total
Current Liabilities |
10.844
|
9.676 |
9.382 |
|
|
Net Current Assets |
4.958
|
3.251 |
4.980 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.603 |
11.886 |
11.806 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
32.576 |
32.259 |
|
|
|
Other Income |
|
NA |
0.087 |
|
|
|
TOTAL |
|
NA |
32.346 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/(Decrease) in Stock |
|
NA |
0.261 |
|
|
|
Manufacturing Expenses |
|
NA |
16.464 |
|
|
|
Purchases of Trading Goods |
|
NA |
1.395 |
|
|
|
Administrative Expenses |
|
NA |
9.945 |
|
|
|
Selling Expenses |
|
NA |
1.716 |
|
|
|
TOTAL |
|
NA |
29.781 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3.215 |
2.565 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.498 |
0.879 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
1.717 |
1.686 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.543 |
0.527 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
1.174 |
1.159 |
|
|
|
|
|
|
|
|
|
Add/ Less |
Excess/ (Short)
Provision for Taxation Written Back |
|
(0.085) |
0.024 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
2.453 |
1.270 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
3.542 |
2.453 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
|
NA |
11.204 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
23.48 |
23.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
3.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.27 |
5.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
7.96 |
7.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.29 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.88
|
0.97 |
1.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.34 |
1.53 |
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 |
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 two years |
Yes |
|
12) Profitability for last two 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 |
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)
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) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and
Advances from related parties |
|
|
|
R.G. Nandwana |
3.296 |
2.015 |
|
S.R. Nandwana |
1.225 |
0.457 |
|
A.R. Nandwana |
0.254 |
0.269 |
|
Rajendra Govindji (HUF) |
1.402 |
1.265 |
|
Loans and
Advances from Others |
|
|
|
Estate of G.K. Nandwana |
0.244 |
0.220 |
|
Total
|
6.421 |
4.226 |
Note: There are no terms fixed for repayment of the above mentioned unsecured
loans. Interest is payable yearly on 31st March of every year at
12%.
FIXED ASSETS:
·
Freehold Land
·
Buildings
·
Plant and Machinery
·
Electrical Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computers
·
Pollution Control Equipments
·
Office Equipment
·
Air Conditioners
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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.