|
Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
KREDENCE MULTI TRADING LIMITED [w.e.f.02.03.2009] |
|
|
|
|
Formerly Known
As : |
SANJUG TRADING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
530, Nav Vyapar Bhavan, 49 P.D. Mello Road, Carnac Bunder, Mumbai –
400009, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.02.1984 |
|
|
|
|
Com. Reg. No.: |
11-031992 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 12.655 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1984PLC031992 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS38900B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS0778A/ AACCG1082F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in Iron and Steel, Shares and Property. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2210000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is promoted by Miglani Family. It is an established company having
satisfactory track record. Trade relations are reported as decent. Business
is active. Payments terms are usually correct and as per commitment. The company can be considered normal 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund Based Limit : A3 |
|
Rating Explanation |
Moderate credit quality it carry higher
credit risk. |
|
Date |
May 2012 |
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 DECLINED
UNABLE TO CONTACT [91-22-66361316]
LOCATIONS
|
Registered Office : |
530, Nav Vyapar Bhavan, 49 P.D. Mello Road, Carnac Bunder, Mumbai –
400009, Maharashtra, India |
|
Tel. No.: |
91-22-66361316 |
|
Fax No.: |
91-22-66361317 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Anuj Rajinder Miglani |
|
Designation : |
Director |
|
Address : |
21-B Embassy
Apartments, 46 Nepean Sea Road, Mumbai-400036, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1974 |
|
Qualification : |
Mechanical
Engineer from Imperial College, London |
|
Date of Appointment : |
06.07.2010 |
|
PAN No.: |
AABPM6332L |
|
DIN No.: |
00287097 |
|
|
|
|
Name : |
Mr. Ankit Rajinderkumar Miglani |
|
Designation : |
Director |
|
Address : |
21-B Embassy
Apartments, 46 Nepean Sea Road, Mumbai-400036, Maharashtra, India |
|
Date of Birth/Age : |
23.02.1979 |
|
Qualification : |
Graduate in
Economics from Wharton School, U.S.A. |
|
Date of Appointment : |
06.07.2010 |
|
PAN No.: |
AACPM1902P |
|
DIN No.: |
00444956 |
|
|
|
|
Name : |
Mr. Rolph Sequeira |
|
Designation : |
Director |
|
Address : |
B/4, 704,High
Land Park, Jai Shastri Nagar, Mulund (West), Mumbai-400082, Maharashtra,
India |
|
Date of Birth/Age : |
21.03.1960 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
04.04.2005 |
|
DIN No.: |
00367084 |
|
|
|
|
Name : |
Mrs. Divya Dhawan |
|
Designation : |
Director |
|
Address : |
B-9, 6491, Vasant Kunj, New Delhi - 110070,
India |
|
Date of Birth/Age : |
04.09.1983 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
11.05.2009 |
|
PAN No.: |
AKWPD7689L |
|
DIN No.: |
02202030 |
|
|
|
|
Name : |
Mr. Debkumar Krishnapada Goswami |
|
Designation : |
Director |
|
Address : |
A/501, Vigyanshila,
7 Bunglow, New Juhu Versova Link Road, Andheri (West), Mumbai - 400061,
Maharashtra, India |
|
Date of Birth/Age : |
10.02.1946 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
11.05.2009 |
|
DIN No.: |
02390068 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
39.02 |
|
Others
|
|
60.98 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Iron and Steel, Shares and Property. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Ø Dena Bank, Dena Corporate
Centre, Bandra Kurla Complex, Bandra (East), Mumbai – 400021, Maharashtra,
India Ø Canara Bank Ø ICICI Bank
Limited Ø Kotak Mahindra
Bank Limited Ø Punjab and Maha.
Bank Limited Ø State Bank of
India Ø Union Bank of
India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sonal V Desai Chartered Accountant |
|
Address : |
104, Tuscon,
Trikal CHS, Plot No. 310, 90 Feet Road, Ghatkopar (East), Mumbai - 400075,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAMPD9246M |
|
|
|
|
Other Related
Parties : |
Ø Archisha
Investments Private Limited [U67120MH1981PTC025930] Ø Barclay Exports
Private Limited Ø Grow well
Mercantile Limited [U51900HR1997PLC047058] Ø Heli Properties
Private Limited [U70101MH1994PTC081366] Ø Karishma Trading
Company Private Limited [U51900MH1989PTC051001] Ø Siddharth
Holding Private Limited Ø Opasa Steels
Private Limited Ø Paritosha
Properties Private Limited Ø Heli Properties
Private Limited Ø Uttam Galva
Steels Limited [L27104MH1985PLC035806] Ø Uttam Galva
Metallics Limited [U27200HR2007PLC037927] Ø Uttam Exports
Private Limited [U51900MH1982PTC028710] Ø Vaikunth
Townships Private Limited [U45201MH2006PTC165166] Ø Sainath Trading
Company Private Limited [U51311MH1971PTC015460] Ø Golden Greens
Golf And Resorts Limited [U55101HR1988PLC030288] Ø Bakura
Properties Private Limited [U45202MH1994PTC081324] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
5,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
940,500 |
Equity Shares |
Rs. 10/- each |
Rs. 9.405
Millions |
|
325,000 |
Preference Shares |
Rs. 10/- each |
Rs. 3.250
Millions |
|
|
Total |
|
Rs. 12.655 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 |
12.655 |
9.405 |
6.905 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
541.063 |
259.532 |
44.821 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
553.718 |
268.937 |
51.726 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
259.600 |
712.182 |
658.070 |
|
|
TOTAL BORROWING |
259.600 |
712.182 |
658.070 |
|
|
DEFERRED TAX LIABILITIES |
3.112 |
1.675 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
816.430 |
982.794 |
709.796 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
39.760 |
40.115 |
35.449 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
675.763 |
723.103 |
492.060 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
80.266
|
86.954 |
5.376 |
|
|
Sundry Debtors |
794.335
|
646.562 |
0.000 |
|
|
Cash & Bank Balances |
197.483
|
81.943 |
5.121 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
437.853
|
146.962 |
201.429 |
|
Total
Current Assets |
1509.937
|
962.421 |
211.926 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1382.778
|
702.482 |
0.000 |
|
|
Other Current Liabilities |
23.147
|
40.266 |
29.639 |
|
|
Provisions |
3.105
|
0.097 |
0.000 |
|
Total
Current Liabilities |
1409.030
|
742.845 |
29.639 |
|
|
Net Current Assets |
100.907
|
219.576 |
182.287 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
816.430 |
982.794 |
709.796 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3833.486 |
1076.527 |
259.333 |
|
|
|
Other Income |
8.977 |
5.472 |
31.316 |
|
|
|
TOTAL (A) |
3842.463 |
1081.999 |
290.649 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
3726.826 |
1031.088 |
234.960 |
|
|
|
Employee benefit expense |
1.814 |
1.161 |
0.000 |
|
|
|
Other expenses |
6.196 |
18.319 |
7.304 |
|
|
|
Prior period items |
0.000 |
0.000 |
(0.149) |
|
|
|
TOTAL (B) |
3734.836 |
1050.568 |
242.115 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
107.627 |
31.431 |
48.534 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.736 |
8.985 |
0.195 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.891 |
22.446 |
48.339 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.919 |
0.772 |
0.253 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
37.972 |
21.674 |
48.086 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.937 |
5.108 |
7.347 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
25.035 |
16.566 |
38.739 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.214 |
0.000 |
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
0.000 |
448.961 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.78 |
17.61 |
56.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.65
|
1.53 |
13.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.99
|
2.01 |
18.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.45
|
2.16 |
19.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.08 |
0.93 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.47
|
2.65 |
12.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.30 |
7.15 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Trade payable |
1382.778
|
702.482 |
0.000 |
|
|
|
|
|
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Deposits from others |
259.600 |
504.600 |
|
Other loans and advances |
0.000 |
207.582 |
|
Total |
259.600 |
712.182 |
BACKGROUND
Kredence Multi
Trading Private Limited is a company incorporated under the Companies Act, 1956
and is engaged in the business of Trading in Iron and Steel, Shares and
Property.
FINANCIAL
RESULTS
During the year the company has earned a
Profit of Rs. 25.035 Millions (Rs. 16.566 Millions).
FIXED ASSETS:
Ø Air Conditioner
Ø Computer
Ø Fax Machine
Ø Flat at Delhi
Ø Motor Car
Ø Office at Mumbai
Ø Office at Mumbai
Ø Furniture and Fixture
Ø Refrigerator
Ø Television
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. 54.44 |
|
|
1 |
Rs. 81.33 |
|
Euro |
1 |
Rs. 70.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.