1. Summary Information
|
Country |
India |
||
|
Company Name |
K.A.S INDUSTRIES
INDIA LIMITED (PARKT IX) |
Principal Name 1 |
Mr. Allaudin Shameem |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Abdul Jalal Shahiba Begam |
|
Registration # |
18-012317 |
||
|
Street Address |
No. 24, (Old
No.36) |
||
|
Established Date |
25.11.2005 |
SIC Code |
-- |
|
Telephone# |
91-424-2292431 |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
Importers |
|
Homepage |
Not Available |
Product Name 1 |
Upper Leather |
|
# of employees |
Not Available |
Product Name 2 |
Lining Leather |
|
Paid up capital |
Rs.14,089,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
State Bank of
India |
|
Public Limited Corp. |
No |
Business Period |
8 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(47) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related Parties |
- |
Excel Shoes |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
142,742,000 |
Current Liabilities |
108,524,000 |
|
Inventories |
63,486,000 |
Long-term Liabilities |
386,004,000 |
|
Fixed Assets |
609,809,000 |
Other Liabilities |
35,654,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
530,182,000 |
|
Invest& other Assets |
5,450,000 |
Retained Earnings |
277,216,000 |
|
|
|
Net Worth |
291,305,000 |
|
Total Assets |
821,487,000 |
Total Liab. & Equity |
821,487,000 |
|
Total Assets (Previous Year) |
867,951,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
851,931,000 |
Net Profit |
37,600,000 |
|
Sales(Previous yr) |
825,289,000 |
Net Profit(Prev.yr) |
60,213,000 |
MIRA INFORM REPORT
|
Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
K.A.S INDUSTRIES INDIA LIMITED (PARKT IX) |
|
|
|
|
Registered
Office : |
No. 24, (Old No.36) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.11.2005 |
|
|
|
|
Com. Reg. No.: |
18-012317 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.14.089 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111TZ2005PLC012317 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importers and Exporters Of Upper Leather and
Lining Leather |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1165000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a satisfactory track
record. There appears dip in its profitability during 2012. However, general financial strength seems to be strong. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in existence.
Kodak, the inventor of the digital camera had to wind up its operations, HMV,
the British entertainment retailing company and Borders, once the second
largest bookstore have shut down due to their inability to evolve their
business models with the changing time. Readers’ Digest, Thomson Register are
no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 : |
No. 24, (Old No.36) |
|
Tel. No.: |
91-424-2292431 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
7, Muthu Street, Periampet, Chennai-600003, Tamilnadu, India |
|
|
|
|
Factory 1 : |
Gnanipalayam Post, Thanneerpandal, Vellode Via Perundurai-638112,
Erode District, Tamilnadu, India |
|
|
|
|
Factory 2 : |
118-C, MBT Road, I Cross, Ranipet, India |
|
|
|
|
Factory 3 : |
437/2B C Adbul Hanjeem Road, KAthiyavadi Village, Melvisharam-632509,
Vellore, India |
|
|
|
|
Factory 4 : |
736/2, 4B, 5A, Poondi Road, Vanniyachatrram, Poodi Post, Valaja-632508,
India |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Allaudin Shameem |
|
Designation : |
Managing Director |
|
Address : |
192, |
|
Date of Birth/Age : |
15.05.1956 |
|
Date of Appointment : |
25.11.2005 |
|
DIN No.: |
00148409 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U01911TZ2002PTC010166 |
PERUNDURAI
LEATHER INDUSTRIES ECO SECURITY PRIVATE LIMITED |
Director |
23-04-02 |
23-04-02 |
27-06-11 |
Active |
NO |
|
2 |
U19201TN2004PTC052699 |
K.A.S.
SHOES PRIVATE LIMITED |
Director |
09-03-04 |
09-03-04 |
- |
Active |
NO |
|
3 |
U19113TZ2004PLC011121 |
K A
S TANNING COMPANY LIMITED |
Director |
28-04-04 |
28-04-04 |
- |
Active |
NO |
|
4 |
U17111TZ2005PLC012317 |
K.A.S
INDUSTRIES INDIA LIMITED (PARKT IX) |
Managing
director |
25-11-05 |
25-11-05 |
- |
Active |
NO |
|
Name : |
Mrs. Abdul Jalal Shahiba Begam |
|
Designation : |
Director |
|
Address : |
192, |
|
Date of Birth/Age : |
07.06.1967 |
|
Date of Appointment : |
25.11.2005 |
|
DIN No.: |
00179384 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U19201TN2004PTC052699 |
K.A.S.
SHOES PRIVATE LIMITED |
Director |
09-03-04 |
09-03-04 |
Active |
NO |
|
2 |
U19113TZ2004PLC011121 |
K A
S TANNING COMPANY LIMITED |
Director |
28-04-04 |
28-04-04 |
Active |
NO |
|
3 |
U17111TZ2005PLC012317 |
K.A.S
INDUSTRIES INDIA LIMITED (PARKT IX) |
Director |
25-11-05 |
25-11-05 |
Active |
NO |
|
Name : |
Kurichi Marappa Mudaliar Varadharaj |
|
Designation : |
Director |
|
Address : |
Kaspappettai, Erode, |
|
Date of Birth/Age : |
22.07.1975 |
|
Date of Appointment : |
31.03.2006 |
|
Date of Cessation : |
23.11.2012 |
|
DIN No.: |
00140479 |
|
|
|
|
Name : |
Mr. Abdul Jalal Mohamed Asick |
|
Designation : |
Director |
|
Address : |
16, Aok Nagar B P Agraharam, Erode-638005, |
|
Date of Birth/Age : |
01.02.1969 |
|
Date of Appointment : |
31.03.2006 |
|
Date of Cessation : |
23.11.2012 |
|
DIN No.: |
01249945 |
|
|
|
|
Name : |
Mr. P I Ashraf Ali Khan |
|
Designation : |
Director |
|
Address : |
C-11, Saibaba Colony, K.K Pudur, Coimbatore-38, |
|
Date of Birth/Age : |
20.07.1975 |
|
Date of Appointment : |
31.03.2006 |
|
Date of Cessation : |
23.11.2012 |
|
DIN No.: |
00144413 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
No. of Shares |
|
Allaudin Shameem |
1019050 |
|
Abdul Jalal Shahiba Begam |
327350 |
|
Sirajudden A |
100 |
|
Abdul Jalal Mohamed Asick |
100 |
|
Rashila Begum S |
100 |
|
K A Abdul Wahid |
100 |
|
Mohammed Farook A |
100 |
|
KAS Tanning Company Limited, India |
32250 |
|
S Mohamed Arshath |
29750 |
|
TOTAL
|
1408900 |
AS ON 30.09.2012
|
Equity Shares Break
Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importers and Exporters Of Upper Leather and
Lining Leather |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of ·
The Indian Overseas Bank, 56,57,58, Teppakulam Street,
Sankari Main Road, Tiruchengode, Namakkal -634211, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
NOTES
LONG TERM
BORROWINGS
- There is no default in repayment of
principal loan or interest thereon
- Repayment Schedule
(Rs.
In Millions)
|
|
2011 – 12 |
2012 – 13 |
2013 – 14 |
2014 – 15 |
2015 – 16 |
2016 – 17 |
2017 – 18 |
2018 – 19 |
|
380700005 |
4.908 |
4.908 |
4.908 |
4.908 |
2.200 |
0.000 |
0.000 |
0.000 |
|
380700006 |
24.288 |
24.288 |
24.288 |
24.288 |
12.112 |
0.000 |
0.000 |
0.000 |
|
381000002 |
6.000 |
13.236 |
19.680 |
19.680 |
19.680 |
19.680 |
19.680 |
18.164 |
|
32256271007 |
0.000 |
0.200 |
2.400 |
3.600 |
0.600 |
0.000 |
0.000 |
0.000 |
|
380500006 |
6.222 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
381000001 |
8.700 |
8.700 |
8.700 |
8.700 |
6.525 |
0.000 |
0.000 |
0.000 |
|
381000003 |
3.840 |
3.840 |
3.840 |
3.520 |
0.000 |
0.000 |
0.000 |
0.000 |
|
381000002 |
13.570 |
14.358 |
14.358 |
14.358 |
14.358 |
14.358 |
0.000 |
0.000 |
|
3807000004 |
2.780 |
2.780 |
0.231 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. Kumar Chartered Accountant |
|
Address : |
28/1, |
|
PAN No.: |
AMTPK6524E |
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1408900 |
Equity Shares |
Rs.10/- each |
Rs. 14.089
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
14.089 |
13.469 |
|
(b) Reserves & Surplus |
|
277.216 |
227.836 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.003 |
|
Total
Shareholders’ Funds (1) + (2) |
|
291.305 |
241.308 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
282.098 |
277.374 |
|
(b) Deferred tax liabilities (Net) |
|
28.515 |
13.844 |
|
(c) Other long term
liabilities |
|
24.177 |
63.524 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
334.790 |
354.742 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
103.906 |
126.325 |
|
(b) Trade
payables |
|
11.319 |
70.358 |
|
(c) Other
current liabilities |
|
73.028 |
71.275 |
|
(d) Short-term
provisions |
|
7.139 |
3.943 |
|
Total Current
Liabilities (4) |
|
195.392 |
271.901 |
|
|
|
|
|
|
TOTAL |
|
821.487 |
867.951 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
609.809 |
587.890 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.380 |
|
(b) Non-current Investments |
|
5.450 |
5.450 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
3.533 |
3.540 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
618.792 |
597.260 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
63.486 |
75.998 |
|
(c) Trade
receivables |
|
67.751 |
135.662 |
|
(d) Cash
and cash equivalents |
|
21.877 |
21.944 |
|
(e)
Short-term loans and advances |
|
44.189 |
32.082 |
|
(f) Other
current assets |
|
5.392 |
5.005 |
|
Total
Current Assets |
|
202.695 |
270.691 |
|
|
|
|
|
|
TOTAL |
|
821.487 |
867.951 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
13.469 |
|
|
2] Share Application Money |
|
|
0.003 |
|
|
3] Reserves & Surplus |
|
|
167.623 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
181.095 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
352.020 |
|
|
2] Unsecured Loans |
|
|
21.697 |
|
|
TOTAL BORROWING |
|
|
373.717 |
|
|
DEFERRED TAX LIABILITIES |
|
|
13.844 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
568.656 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
383.832 |
|
|
Capital work-in-progress |
|
|
46.245 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.450 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
61.516 |
|
|
Sundry Debtors |
|
|
59.472 |
|
|
Cash & Bank Balances |
|
|
26.243 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
19.619 |
|
Total
Current Assets |
|
|
166.850 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
25.821 |
|
|
Other Current Liabilities |
|
|
0.188 |
|
|
Provisions |
|
|
7.764 |
|
Total
Current Liabilities |
|
|
33.773 |
|
|
Net Current Assets |
|
|
133.077 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.052 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
568.656 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
851.931 |
825.289 |
477.899 |
|
|
|
Other Income |
19.289 |
42.072 |
29.853 |
|
|
|
TOTAL (A) |
871.220 |
867.361 |
507.752 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
561.454 |
571.564 |
381.633 |
|
|
|
Employees Benefit Expenses |
13.870 |
9.106 |
|
|
|
|
Other Expenses |
111.846 |
125.410 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(15.247) |
(0.671) |
|
|
|
|
TOTAL (B) |
671.923 |
705.409 |
381.633 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
199.297 |
161.952 |
126.119 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
65.928 |
44.746 |
32.306 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
133.369 |
117.206 |
93.813 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
77.188 |
53.257 |
39.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
56.181 |
63.949 |
54.788 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
18.581 |
3.736 |
17.712 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
37.600 |
60.213 |
37.076 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
63.202 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
100.278 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Finished Leather |
242.072 |
183.228 |
NA |
|
|
|
Shoe Upper |
16.812 |
0.000 |
NA |
|
|
TOTAL EARNINGS |
258.884 |
183.228 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Chemical Purchase |
4.387 |
3.461 |
NA |
|
|
|
Capital Goods |
0.449 |
43.105 |
NA |
|
|
TOTAL IMPORTS |
4.836 |
46.566 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
27.91 |
44.70 |
-- |
|
%20-%20235552%2013-Sep-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.32
|
6.94 |
7.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.59
|
7.75 |
11.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.88
|
7.41 |
9.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.27 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.33
|
1.67 |
2.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04
|
1.00 |
4.94 |
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 |
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 |
NOTE
The Registered office of the company has been
shifted from Door No.192, Bhavani Main Road B.P.Agraharam Erode-5 Tamilnadu
PERFORMANCE OF THE COMPANY
To begin with,
company’s performance has been shown some improvement. The company recorded a
Gross Income of Rs. 871.220 Millions against Rs. 843.538 Millions in the
previous year registering a growth of 3.28%. The operating profit before
depreciation and interest has been Rs. 199.232 Millions as against Rs. 161.941
Millions in the previous year. After charging interest of Rs. 65.928 Millions
(Rs. 44.745 Millions), depreciation and amortization expense Rs. 77.181
Millions (Rs. 53.250 Millions) and providing for tax Rs. 11.558 Millions (Rs.
12.934 Millions), the profit after tax for the year remained at Rs. 37.598
Millions compared to Rs. 60.210 Millions in the previous year.
SPINNING
The company
installed 5760 spindles additionally and thus the company’s spindlage capacity
stand increased to 43440. Spinning unit performed excellently well during the
year. During the year the company has processed 3014294 kgs of cotton and
produced 2427028 kgs of yarn. The
financial
performance too, improved significantly.
LEATHER
During the year,
the company has purchased one tanning unit comprised of land and building and
machineries in Melvisharam, Ranipet at a cost of 98,29,100/- being Rs.1.811
Millions towards land, Rs.7.414 Millions towards building and Rs. 0.604 Million
towards machineries. During the year, 209888 nos of rawhides processed into wet
blue and 151651 nos of wet blue into finished leathers. During the year, the
company has exports finished leather amounting Rs. 2419.56 to Italy, Honkong,
Germany, Thailand, Spain, Portugal etc.
WIND MILL
The company
already has 8 windmills aggregating capacity of 4400 KWA - 4 windmills
aggregating 2000 KWA in Chettikulam of Tirunelveli District and Palladam of
Coimbatore District and 4 wind mills of each 600 KWA aggregating 2400 KWA in
Thekasi of Tiruneveli District. During the year, the company has purchased 1 No
of Windmill in the capacity of 600 KWA at a cost of Rs. 27.000 Millions and
land at a cost of Rs. 0.083 Millions (including stamp paper and registration
expenses) With this the company has 9 windmills aggregating capacity of 5000
KVA. The wind mills have generated 10.392 Millions units of power during the
year.
SHOE
On 01.01.2012, the
company has entered into a lease agreement with M/s Excel Shoes, a partnership
firm manufacturing shoes, for taking lease of its shoe unit comprised of land
and building and machineries in Ranipet until the firm selling the unit to the
company. The company started production of shoes from 01.01.2012. The company
eventually purchased the land and building at cost of Rs. 15.745 Millions on
23.02.2012 and continuing the lease terms for the machineries.
During the period
of 3 months the company has produced 22014 pairs shoes upper and exported 22014
pairs of shoes upper. Exports sale of shoes to UK came to Rs. 168.12
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10346231 |
30/03/2013 * |
693,450,000.00 |
INDIAN OVERSEAS BANK |
56,57,58,TEPPAKULAM
STREET, SANKARI MAIN ROAD, TIRUCHENGODE, NAMAKKAL, TAMIL NADU - 637211, INDIA |
B73971665 |
|
2 |
10028192 |
30/03/2013 * |
123,500,000.00 |
THE STATE BANK OF INDIA |
S B I COMMERCIAL
BRANCH, 78/79 CD BUILDING PARK ROAD, ERODE, TAMIL NADU - 638003, INDIA |
B73794968 |
Note: * Date of charge modification
FIXED ASSETS
- Machines
- Vehicles
- Electrical
Machineries
- Building
- Land
- Computer
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. 63.67 |
|
|
1 |
Rs. 100.71 |
|
Euro |
1 |
Rs. 84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.