MIRA INFORM REPORT
|
Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
KSH INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
BHANDARY METAL EXTRUSION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5, Madhav Nagar, Bhavani Shankar Road, Dadar (West), Mumbai - 400028,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.07.1979 |
|
|
|
|
Com. Reg. No.: |
11-141032 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.565 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28129PN1979PTC141032 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB1897K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Copper and Aluminium
Conductor. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
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 1180000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
There appears some dip in the profitability of the company during the current
year. However, networth of the company appears to be satisfactory. 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 for normal business dealings at usual
trade terms and condition. |
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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Loan : BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
June 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating : A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
March 2011 |
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 [GENERAL DETAILS]
|
Name : |
Mr. Devdas Wariyar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-27410367 |
|
Date : |
16.09.2013 |
LOCATIONS
|
Registered Office : |
5, Madhav Nagar, Bhavani Shankar Road, Dadar (West), Mumbai - 400028,
Maharashtra, India |
|
Tel. No.: |
91-22-27410367/ 27401425 |
|
Fax No.: |
91-22-27412418 |
|
E-Mail : |
kirtida.kale@kshinternational.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
Chakan - Ambethan Road, Chakan, Pune - 410501,
Maharashtra, India |
|
Tel. No.: |
91-2135-256410/ 256412 |
|
Fax No.: |
91-2135-256411 |
|
E-Mail : |
|
|
|
|
|
Factory : |
J-25, M.I.D.C., Taloja, District Raigad - 410208, Maharashtra, India |
DIRECTORS
AS ON 21.08.2012
|
Name : |
Mr. Kushal Subbayya Hegde |
|
Designation : |
Chairman and Managing director |
|
Address : |
Buena Monte, NCL Co-operative, Housing
Society, Off Pashan Road, Pune-411008, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1938 |
|
Date of Appointment : |
30.07.1979 |
|
PAN No.: |
AAEPH1412P |
|
Voter ID No.: |
SAO3590296 |
|
DIN No.: |
00135070 |
|
|
|
|
Name : |
Mr. Rajesh Kushal Hegde |
|
Designation : |
Whole-time director |
|
Address : |
Buena Monte, NCL Co-operative Housing
Society, Off Pashan Road, Pune-411008, Maharashtra, India |
|
Date of Birth/Age : |
29.08.1970 |
|
Date of Appointment : |
01.09.1996 |
|
PAN No.: |
AALPH1682A |
|
DIN No.: |
00114193 |
|
|
|
|
Name : |
Mr. Rohit Kushal Hegde |
|
Designation : |
Whole-time director |
|
Address : |
Buena Monte, NCL Co-operative Housing
Society, Off Pashan Road, Pune-411008, Maharashtra, India |
|
Date of Birth/Age : |
09.08.1974 |
|
Date of Appointment : |
01.11.2000 |
|
PAN No.: |
AAEPH0614F |
|
Voter ID No.: |
MT/42/247/0054462 |
|
DIN No.: |
00134926 |
|
|
|
|
Name : |
Mrs. Pushpa Kushal Hegde |
|
Designation : |
Whole-time director |
|
Address : |
Buena Monte, NCL Co-operative Housing Society, Off Pashan Road, Pune-411008,
Maharashtra, India |
|
Date of Birth/Age : |
10.10.1948 |
|
Date of Appointment : |
09.12.1983 |
|
PAN No.: |
AAOPH0045G |
|
Voter ID No.: |
SAO3590783 |
|
DIN No.: |
00137395 |
|
|
|
|
Name : |
Mr. Sudhakar Venkat Rao |
|
Designation : |
Whole-time director |
|
Address : |
12/316, Roop Nagar, Vivek, Bandra (East), Mumbai - 400051,
Maharashtra, India |
|
Date of Birth/Age : |
07.09.1949 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01627303 |
|
|
|
|
Name : |
Mr. Ganesh Prasad Bheemabhat |
|
Designation : |
Whole-time director |
|
Address : |
Elkaje House, H No 1-94, Netla Mudnur Village, Nerlakatte PO, Bantwal,
D.K. Nerlakatte-574253, Karnataka, India |
|
Date of Birth/Age : |
09.05.1967 |
|
Date of Appointment : |
13.10.2010 |
|
DIN No.: |
03274531 |
|
|
|
|
Name : |
Mr. Ashok Shardaprasad Saxena |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 403, Building-C, Pride Panorama, Sr. No. 103, Bahiratwadi, Shivajinagar,
Pune – 411016, Maharashtra, India |
|
Date of Birth/Age : |
19.01.1951 |
|
Date of Appointment : |
30.01.2012 |
|
DIN No.: |
05185106 |
KEY EXECUTIVES
|
Name : |
Mr. Devdas Wariyar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.08.2012
|
Names of Shareholders |
No. of Shares |
|
Kushal Subbayya Hegde |
38795 |
|
Pushpa Kushal Hegde |
10099 |
|
Shubhkamal Leasing and Investment Private Limited, |
13496 |
|
Rajesh Kushal Hegde |
16630 |
|
Rohit Kushal Hegde |
16630 |
|
|
|
|
Total |
95650 |
AS ON 21.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
14.11 |
|
Directors
or relatives of directors |
|
85.89 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Copper and Aluminium
Conductor. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
capacity per annum per shift |
Actual
production Qty. in MT |
|
Copper |
|
4360 |
|
|
Own Copper |
MT |
2802.749 |
142.296 |
|
Job Works |
MT |
5835.288 |
NA |
|
Total
(A) |
|
8638.037 |
142.296 |
|
|
|
|
|
|
Aluminium |
|
|
|
|
Own Aluminium |
MT |
0.558 |
1.714 |
|
Job Work |
MT |
14.308 |
0 |
|
Total
(B) |
|
14.866 |
1.714 |
|
TOTAL
(A+B) |
|
8652.903 |
144.010 |
Note:
No license is
required for the products which company is engaged in manufacturing. Installed
capacity is as certified by the management.
GENERAL INFORMATION
|
Customers : |
Wholesalers |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Ø State Bank of
India, Industrial Finance Branch, Tara Chambers, 2nd Floor, Near
Maria Airpolice Chowky, Pune – Mumbai Highway, Wakgewadi, Pune – 411003,
Maharashtra, India Ø Indian Bank, SV
Road, Madhav Nagar; Andheri West, Mumbai - 400058, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A S Alva and Company Chartered Accountants |
|
Address : |
Flat 1-5, Himali Housing Society, Erandavane, Pune - 411004,
Maharashtra, India |
|
Tel. No.: |
91-20-25434527/ 25440143/ 25434752 |
|
Fax No.: |
91-20-25440143 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
ABYPA9734A |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
Ø KSH Distriparks Ø Waterloo Motors Ø Logistics
Private Limited Ø Kushal
Electricals Ø Kushal Motors
and Electricals Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95,650 |
Equity Shares |
Rs. 100/- each |
Rs. 9.565
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 |
|
9.565 |
9.565 |
|
(b) Reserves & Surplus |
|
284.250 |
266.387 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
293.815 |
275.952 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
100.994 |
142.854 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
100.994 |
142.854 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
178.341 |
186.471 |
|
(b)
Trade payables |
|
44.600 |
100.386 |
|
(c)
Other current liabilities |
|
141.954 |
89.380 |
|
(d)
Short-term provisions |
|
22.538 |
50.742 |
|
Total
Current Liabilities (4) |
|
387.433 |
426.979 |
|
|
|
|
|
|
TOTAL |
|
782.242 |
845.785 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
243.246 |
253.750 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
3.698 |
1.623 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
97.032 |
19.950 |
|
(c) Deferred tax assets
(net) |
|
4.994 |
3.940 |
|
(d) Long-term Loan
and Advances |
|
7.828 |
5.483 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
356.798 |
284.746 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
121.635 |
102.175 |
|
(c)
Trade receivables |
|
171.110 |
298.418 |
|
(d)
Cash and cash equivalents |
|
13.632 |
11.856 |
|
(e)
Short-term loans and advances |
|
118.213 |
148.308 |
|
(f)
Other current assets |
|
0.854 |
0.282 |
|
Total
Current Assets |
|
425.444 |
561.039 |
|
|
|
|
|
|
TOTAL |
|
782.242 |
845.785 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.565 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
197.705 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
207.270 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
251.669 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
251.669 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
458.939 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
239.278 |
|
|
Capital work-in-progress |
|
|
2.835 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
62.350 |
|
|
DEFERRED TAX ASSETS |
|
|
0.079 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
78.060
|
|
|
Sundry Debtors |
|
|
160.800
|
|
|
Cash & Bank Balances |
|
|
7.402
|
|
|
Other Current Assets |
|
|
0.066
|
|
|
Loans & Advances |
|
|
72.592
|
|
Total
Current Assets |
|
|
318.920 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
72.505
|
|
|
Other Current Liabilities |
|
|
55.218
|
|
|
Provisions |
|
|
36.800
|
|
Total
Current Liabilities |
|
|
164.523 |
|
|
Net Current Assets |
|
|
154.397
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
458.939 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1549.592 |
1363.819 |
948.480 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1521.283 |
1259.878 |
834.923 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
28.309 |
103.941 |
113.556 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.446 |
35.539 |
41.050 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
17.863 |
68.402 |
72.506 |
|
|
|
|
|
|
|
|
|
|
ADJUSTMENT IN
RESPECT OF PREVIOUS YEAR |
0.000 |
0.280 |
(3.485) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
223.594 |
154.912 |
105.148 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
0.000 |
0.000 |
10.560 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
1.794 |
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
6.903 |
|
|
BALANCE CARRIED
TO THE B/S |
241.457 |
223.594 |
154.912 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Export |
886.267 |
707.324 |
443.973 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
147.781 |
36.597 |
|
|
|
Stores & Spares |
|
0.000 |
0.037 |
|
|
|
Capital Goods |
|
0.000 |
53.803 |
|
|
TOTAL IMPORTS |
NA |
147.781 |
90.437 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
186.75 |
715.13 |
721.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.15
|
5.02 |
7.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.18
|
12.67 |
20.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.38 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.95
|
1.19 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.31 |
1.94 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
39.300 |
25.500 |
NA |
|
|
|
|
|
|
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 |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90243850 |
28/03/2013 * |
486,500,000.00 |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH |
2ND FLOOR, TARA CHAMBERS, NEAR MARIAAI POLICE CHOWKY, OLD PUNE MUMBAI ROAD, WAKDEWADI, PUNE - 411003, MAHARASHTRA, INDIA |
B71922702 |
|
2 |
90232316 |
10/10/2005 * |
166,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, DADAR EAST, MUMBAI - 400014, MAHARASHTRA, INDIA |
- |
|
3 |
90219838 |
03/09/2004 * |
10,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, DADAR EAST, MUMBAI - 400014, MAHARASHTRA, INDIA |
- |
|
4 |
90219824 |
03/09/2004 * |
7,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, DADAR EAST, MUMBAI - 400014, MAHARASHTRA, INDIA |
- |
|
5 |
90219760 |
16/08/2000 * |
3,750,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, DADAR EAST, MUMBAI - 400014, MAHARASHTRA, INDIA |
- |
|
6 |
90219694 |
31/03/2006 * |
18,800,000.00 |
STATE BANK OF INDIA |
MATUNGA MUMBAI BRANCH, DADAR, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
Note:
The registered office of the company has been shifted from 11/3, 11/4
and 11/5, Village Birdewadi, Chakan, Taluka-Khed, Pune – 410501, Maharashtra,
India to the present.
REVIEW OF BUSINESS
During the year,
the demand for company’s products remained depressed. The main reason was
reduction in procurement of transformers by the major utilities, resulting in
reduction in capacity utilisation of their customers. This further resulted in
a substantial reduction in the domestic demand for CTC and PICC. Part of this
was offset by restoration of demand for PICC in the export market. The
increased turnover of the company is because of the increase in LME prices and
also a higher outright sale.
The Company is the
first Indian Company to be audited and approved for supply of CTC and PICC for
application in 765 KV transformers by Power Grid Corporation. However, the
Power Grid Corporation started placing the commercial orders only in the end of
the financial year 2011-12 for their transformers. The directors are therefore
hopeful of expecting a good volume of commercial orders from Power Grid
Corporation in the Financial Year 2012-13. It is expected that the sales in the
current year financial year i.e. 2012-13 to grow by 15% on quantity and in
terms of revenues.
PLANS AND PROSPECTS:
The prospects in
Electrical Manufacturing Industry continue to be bright in the Domestic Sector
and as well as certain sectors of company’s export market which has already
started translating in to an increasing demand for large power transformers.
The Company is facing steep competition from within and out of the country,
especially for CTC. Inspite of such challenging situations, the Company has
been able to perform reasonably well, the reasons being commitment to the
quality and timely deliveries.
As the demand for
CTC continues to grow, KSH has embarked on export markets and tap the new
business from Middle East and Other countries. Their Installation of 3 rd CTC
manufacturing machine has been completed, which has enabled them now to enter
the 765 KV and 1200 KV segment. In this year, they have been able to continue
to obtain approval for manufacture of CTC for 765 KV transformers by the
prestigious Power Grid Cooperation of India Limited (PGCIL) and expect to
receive such approvals from other major utilities.
The overall
situation of the economy and the industry is a very volatile. Transformer Industry
business is suffering due to lack of adequate economic reforms and even the
outlook of the Government is not clear. Due to this, the industry is not able
to take bold steps for expansions, aggressive export order bookings etc.
However, the directors are they are hopeful of extending their export market.
FIXED ASSETS
Ø Land – Leasehold
Land
Ø Land – Freehold
Land
Ø Building
Ø Plant and
Machinery
Ø Electrical
Installation
Ø Office Equipment
Ø Tools and Dies
Ø Furniture and
fixture
Ø Computer
Ø Vehicles
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 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. 63.14 |
|
|
1 |
Rs. 100.48 |
|
Euro |
1 |
Rs. 84.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.