MIRA
INFORM REPORT
|
Report Date : |
02.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
KARYTRON ELECTRICALS PRIVATE LIMITED |
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Registered
Office : |
206, Pankaj Tower-I, G-5,Commercial Complex, Vikaspuri, New Delhi – 110018 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.02.2008 |
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Com. Reg. No.: |
55-174713 |
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Capital Investment
/ Paid-up Capital : |
Rs. 5.998 Millions |
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CIN No.: [Company Identification
No.] |
U31401DL2008PTC174713 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Electrical Control Panel. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 46000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record.
There appear huge external borrowing recorded by the company. Profits earned
are also minimal. However, trade relations are reported as fair. Business is active.
Payment terms are slow. The company can be considered for business dealings at 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 3C |
|
Rating Explanation |
Moderate performance capability and low financial strength |
|
Date |
February 2010 |
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. Ajay Kohli |
|
Designation : |
Director |
|
Contact No.: |
91- 9811902010 |
|
Date : |
21.01.2013 |
LOCATIONS
|
Registered Office : |
206, Pankaj Tower-I, G-5,Commercial Complex, Vikaspuri,
New Delhi – 110018, India |
|
Tel. No.: |
91-11-45620856 / 45620857 / 65454780 |
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Mobile No.: |
91- 9811902010 (Mr. Ajay Kohli) |
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Fax No.: |
91-11-45620858 |
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E-Mail : |
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Factory : |
O-18, Old Industrial Area, Bahadurgarh - 124507, Haryana,
India |
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Tel. No.: |
91-1276-244018 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sanjana Kohli |
|
Designation : |
Director |
|
Address : |
D-63, Ajay Enclav, Tilak Nagar, New Delhi – 110018, India |
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Date of Birth/Age : |
12.02.1975 |
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Date of Appointment : |
28.02.2008 |
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DIN No.: |
02064224 |
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Name : |
Mr. Ajay Kohli |
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Designation : |
Director |
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Address : |
D-63, Ajay Enclav, Tilak Nagar, New Delhi – 110018, India |
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Date of Birth/Age : |
15.11.1973 |
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Date of Appointment : |
28.02.2008 |
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DIN No.: |
02064200 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Kohli |
|
177800 |
|
Sanjana Kohli |
|
79500 |
|
Ramesh Chand Kohli |
|
90000 |
|
Anil Kohli |
|
20000 |
|
Manish Kumar |
|
12000 |
|
Yogender Singh |
|
8000 |
|
Kapil Lamba |
|
60000 |
|
Sudesh Lamba |
|
10000 |
|
Ram Murti Malhotra |
|
62500 |
|
Anuj Chawla |
|
50000 |
|
Alok Gupta |
|
10000 |
|
Vikram Malhotra |
|
20000 |
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Total |
|
599800 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Electrical Control Panel. |
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Products : |
· Distribution Boards · Relay Panels · Motor Control Centre · Power Control Center · Bus Ducts and Rising Mains · Control and Relay Panels · Control Desks and Mimic Panels · Automatic Power Factor Correction Panels · AMF and Other Generator Panel ·
11 KV H.7 AMPRL |
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Terms : |
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Selling : |
Cash / Credit (30 Days) |
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Purchasing : |
Cash / Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
Retailers and Others |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
Punjab National Bank, Railway Road, Bahadurgarh –
124507, Haryana, India Tel.
No.: 91-1276-280216 / 231962 232199 ·
ICICI Bank Limited |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
GSK and Associates Chartered Accountants |
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Address : |
8,First Floor, Rani Jhansi Road, Motia Khan, Industrial Area, New Delhi –
110055, India |
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PAN.: |
AADFG5824B |
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Enterprises over
which key management and their relatives are able to exercise significant
Influence: |
· New Delhi Laboratories · Anil Precision Instrument Works · S.K. Electricals · Karytron Electrical Industries ·
Karytron Electricals Company |
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Sister Concern : |
Bijlee Constructions Private Limited
Line of Business
:
Manufacturer and Trader of Electrical Control Panel. CIN No.:
U70101DL1991PTC042709 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs,10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
599800 |
Equity Shares |
Rs.10/- each |
Rs.5.998
Millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.998 |
5.998 |
2.500 |
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2] Share Application Money |
4.500 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.203 |
0.797 |
0.009 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.701 |
6.795 |
2.509 |
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LOAN FUNDS |
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1] Secured Loans |
13.938 |
15.758 |
7.704 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.348 |
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TOTAL BORROWING |
13.938 |
15.758 |
8.052 |
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DEFERRED TAX LIABILITIES |
0.678 |
0.317 |
0.074 |
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TOTAL |
26.317 |
22.870 |
10.635 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
16.018 |
14.666 |
6.914 |
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Capital work-in-progress |
2.346 |
1.113 |
1.588 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
15.433
|
9.526 |
1.546 |
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Sundry Debtors |
5.881
|
4.154 |
3.603 |
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Cash & Bank Balances |
0.651
|
0.432 |
0.493 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.734
|
0.839 |
0.663 |
|
Total
Current Assets |
22.699
|
14.951 |
6.305 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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|
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Sundry Creditors |
10.502
|
3.595 |
3.303 |
|
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Other Current Liabilities |
3.645
|
4.038 |
0.834 |
|
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Provisions |
0.695
|
0.359 |
0.093 |
|
Total
Current Liabilities |
14.842
|
7.992 |
4.230 |
|
|
Net Current Assets |
7.857
|
6.959 |
2.075 |
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MISCELLANEOUS EXPENSES |
0.096 |
0.132 |
0.058 |
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TOTAL |
26.317 |
22.870 |
10.635 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
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Income |
26.420 |
13.723 |
8.836 |
|
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Other Income |
0.003 |
0.000 |
0.015 |
|
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TOTAL (A) |
26.423 |
13.723 |
8.851 |
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Increase / ( Decrease ) in Stock |
(5.907) |
(7.979) |
|
|
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|
Raw Material Consumed |
21.967 |
15.817 |
|
|
|
|
Manufacturing Expenses |
1.098 |
0.655 |
|
|
|
|
Excise duty on sales |
0.840 |
0.000 |
8.634 |
|
|
|
Sales Tax on Sales |
1.020 |
0.357 |
|
|
|
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Payment to and for employees |
2.012 |
2.047 |
|
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|
Administrative & Other Exp. |
1.785 |
1.610 |
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|
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TOTAL (B) |
22.815 |
12.507 |
8.634 |
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|
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|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.608 |
1.216 |
0.217 |
|
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|
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|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
2.159 |
0.758 |
0.059 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.449 |
0.458 |
0.158 |
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.522 |
0.298 |
0.054 |
|
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|
|
|
|
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|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.927 |
0.160 |
0.104 |
|
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|
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|
|
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|
Less |
TAX (H) |
0.521 |
0.271 |
0.095 |
|
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|
|
|
|
|
|
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|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.406 |
(0.111) |
0.009 |
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|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.55 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.54
|
(0.81) |
0.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.51
|
1.17 |
1.18 |
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.39
|
0.54 |
0.79 |
|
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.02 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.19
|
2.32 |
3.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.87 |
1.49 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
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 |
No |
|
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 |
Yes |
CONTINGENT
LIABILITIES NOT PROVIDED FOR: (As on 31.03.2011)
(a) Claims against the company not acknowledged as debts Rs. Nil (Previous Year Rs. Nil).
(b) Estimated amount contract remaining to be executed on capital accounts and not provided for Rs. 250.100 Millions (Previous Year Nil).
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31401DL2008PTC174713 |
|
Name of the
company |
KARYTRON
ELECTRICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
206, Pankaj Tower-I, G-5,Commercial Complex, Vikaspuri, New Delhi – 110018, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10156248 |
|
Type of charge |
· Immovable property · Movable property (not being pledge) ·
Others (Plant & Machinery) |
|
Particular of
charge holder |
Punjab National Bank, Railway Road, Bahadurgarh – 124507, Haryana,
India |
|
Nature of
instrument creating charge |
hypothecation of
assets to secure term loan dated 16.06.2012 term loan
agreement dated 16.06.2012 |
|
Date of
instrument Creating the charge |
16.06.2012 |
|
Amount secured by
the charge |
Rs.5.127 Millions
|
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Margin Plant and
machinery= 25% Building= 25% Extent and Operation of the charge personal
guarantee of the directors |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Primary Security: Plant and machinery financed Collateral security: 1. industrial prorperty bearing No. O-18, Old Industrial Area, Delhi-Rohtak Road, Bahadurgarh, Haryana-124507 2. Flat no. D-64, First floor, right side, measuring 100 sq.yds out of total 200 sq.yds situated at Ajay Enclave, Village Tihar, New Delhi-110018 Personal Guarantee: Mr. Ajay Kohli, Smt. Sanjana Kohli, Mr. Ramesh Chander Kohli |
|
Date of
instrument modifying the charge |
12.03.2009 |
|
Particulars of
the present modification |
Term Loan has
been reviewed with its present outstanding of Rs. 5.127 Millions |
FIXED ASSETS
· Land
· Building
· Tools and Dies
· Plant and Machinery
· Generator
· Furniture and Fixtures
· Computer
· Office Equipment
· 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 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.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.