MIRA
INFORM REPORT
|
Report Date : |
01.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAP CONES PRIVATE LIMITED |
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Registered
Office : |
A-31/4, Mayapuri Industrial Area, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.08.2009 |
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Com. Reg. No.: |
55-193222 |
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Capital
Investment / Paid-up Capital : |
Rs.11.355 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15494DL2009PTC193222 |
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|
|
TIN No.: |
06821930483 |
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|
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PAN No.: [Permanent Account No.] |
AADCK7452J |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Ice Cream Cones and Plastic Cups. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 290000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Sloe but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has recorded huge external borrowings. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings 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.
HENKEL RATING
|
HENKEL’s Rating : |
400 (High risk) 450 (Very high risk) |
|
Credit
Rating |
Henkel
Rating (Customer Risk Assesment- CRA) |
||
|
Mira
Inform |
Risk
Category |
Credit
Limit |
Description |
|
Aaa |
100 |
Inter Company, credit limit
not required |
Very low risk (blue ships) |
|
Aa |
200,
201 |
(120% of Gross Annualised
Sales/365)*Credit Term. |
Low risk |
|
A |
300,
301 |
(100% of Gross Annualised
Sales/365)*Credit Term. |
Moderate risk |
|
Ba |
350 |
(90% of Gross Annualised
Sales/365)*Credit Term. |
Significant risk |
|
B |
400 |
(80% of Gross Annualised
Sales/365)*Credit Term. |
High risk |
|
450 |
Very high risk |
||
|
Ca
or C |
500* |
NIL/ Legal/ Bad/No Transaction |
Doubtful accounts |
|
|
007* |
NIL |
Small unrated customers |
|
|
009* |
NIL |
Inactive customers |
|
|
999* |
Initially First Invoice vales,
CRA will be done and based on report the CL would get revised. |
New customer |
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
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. Investors await justice in NSEL case
.
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.
..Higher costs weigh down profit growth to slowest in 9 quarters
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. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE1B |
|
Rating Explanation |
Highest performance capability and moderate
financial strength. |
|
Date |
29.07.2014 |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Jaswinder Singh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-11-28114880 |
|
Date : |
30.07.2014 |
LOCATIONS
|
Registered Office : |
A-31/4, Mayapuri Industrial Area, New Delhi – 110064,
India |
|
Tel. No.: |
91-11-28114880 / 2554 / 5789 / 41447212 |
|
Fax No.: |
91-1-28115747 |
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E-Mail : |
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|
Website : |
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|
Area : |
4000 Sq. Ft |
|
Location : |
Owned |
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|
Factory : |
Plot No. 29, Sector – 5 IMT Manesar Gurgaon – 122050, Haryana, India |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Deepak Duggal |
|
Designation : |
Director |
|
Address : |
F-227, New Rajinder Nagar, New Delhi – 110060, India |
|
Date of Birth/Age : |
25.05.1980 |
|
Date of Appointment : |
17.08.2009 |
|
DIN No.: |
01042690 |
|
|
|
|
Name : |
Mrs. Manju Duggal |
|
Designation : |
Director |
|
Address : |
A-31/4, Mayapuri Industrial Area, Phase 1, New Delhi –
110064, India |
|
Date of Birth/Age : |
25.01.1961 |
|
Date of Appointment : |
17.08.2009 |
|
DIN No.: |
01042888 |
|
|
|
|
Name : |
Mr. Puneet Duggal |
|
Designation : |
Director |
|
Address : |
A-31/4, Mayapuri Industrial Area, Phase 1, New Delhi –
110064, India |
|
Date of Birth/Age : |
11.05.1957 |
|
Date of Appointment : |
17.08.2009 |
|
DIN No.: |
01226448 |
KEY EXECUTIVES
|
Name : |
Mr. Jaswinder Singh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ice Cream Cones and Plastic Cups. |
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Exports : |
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|
Products : |
Ice Cream Cones and Plastic Cups |
|
Countries : |
UAE |
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Imports : |
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|
Products : |
Raw Material |
|
Countries : |
·
China ·
Taiwan |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Cash, L/C and TT |
GENERAL INFORMATION
|
Suppliers : |
·
Amul Ice Cream ·
Hatsun Agro Products Limited |
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Customers : |
Borouge |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Oriental Bank of Commerce, Vishal Enclave, New Delhi -
110027, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
V H P and Company Chartered Accountants |
|
Address : |
C-1, Lower Ground Floor, Kirti Nagar, New Delhi – 110015, India |
|
PAN No.: |
AAJKFV8801D |
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Sister Concern : |
Kap Press, Mayapuri, Delhi, India |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1135500 |
Equity Shares |
Rs.10/- each |
Rs.11.355 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1135500 |
Equity Shares |
Rs.10/- each |
Rs.11.355 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
FINANCIAL DETAILS FILE ATTACHED
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
8.235 |
11.355 |
11.355 |
|
Reserves & Surplus |
41.452 |
56.442 |
62.221 |
|
Share Application money
pending allotment |
22.400 |
0.000 |
0.000 |
|
Net
worth |
72.087 |
67.797 |
73.576 |
|
|
|
|
|
|
long-term borrowings |
257.002 |
328.386 |
376.412 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
257.002 |
328.386 |
376.412 |
|
Debt/Equity
ratio |
3.565 |
4.844 |
5.116 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
316.624 |
394.758 |
456.899 |
|
|
|
24.677 |
15.742 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
316.624 |
394.758 |
456.899 |
|
Profit |
14.219 |
(7.282) |
5.778 |
|
|
4.49% |
(1.84%) |
1.26% |
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 |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Ashok Bhatia |
0.500 |
0.500 |
|
Bimla Rani - |
0.000 |
0.050 |
|
Deepak Duggal |
29.052 |
16.976 |
|
Dewan & Sons
|
1.781 |
1.781 |
|
Gold Star India |
0.992 |
0.992 |
|
Gold Star
Overseas |
0.300 |
0.300 |
|
Gurunanak
Enterprises |
0.500 |
0.500 |
|
Harish Bhandula |
22.500 |
22.500 |
|
Kanta Duggal |
0.619 |
0.619 |
|
Kap Press
Private Limited |
9.122 |
9.273 |
|
Khushboo Goods
Private Limited |
0.000 |
2.200 |
|
Kiran Gandhi |
1.500 |
1.500 |
|
Kuldeep Rai
Duggal |
0.350 |
0.350 |
|
Kunal Vanjani |
0.150 |
0.150 |
|
Manju Duggal |
0.228 |
0.228 |
|
Sangita Bhatia |
1.000 |
1.000 |
|
Neha Vaid |
0.000 |
0.350 |
|
P. Square
International |
0.100 |
0.100 |
|
Puneet Duggal |
7.135 |
2.965 |
|
Rajender Stores |
1.500 |
1.500 |
|
Ravinder Kr.
Khullar |
0.500 |
0.500 |
|
S P Advertisers |
0.051 |
0.051 |
|
S&S
Convergers |
0.750 |
0.750 |
|
Santosh Rani |
0.500 |
0.500 |
|
Shikhar Polymers
|
0.400 |
0.400 |
|
Shuchi Duggal |
2.340 |
2.340 |
|
Somnath Gandhi |
1.000 |
1.000 |
|
Taruna Malhotra
- |
0.000 |
2.000 |
|
Ultra Home
Constructions P. Limited |
2.000 |
2.000 |
|
Vinayak
Enterprises |
0.300 |
0.300 |
|
Vineet Duggal |
0.835 |
0.835 |
|
Total |
86.005 |
74.510 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10507914 |
26/06/2014 |
4,208,090.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Appartments,, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
C10433381 |
|
2 |
10466640 |
28/11/2013 |
30,000,000.00 |
Oriental Bank of Commerce |
A-17, Vishal Enclave, Najafgarh Road, Opp Metro Pillar No.405, New Delhi, Delhi - 110027, India |
B92147552 |
|
3 |
10419017 |
20/03/2013 |
42,200,000.00 |
Fullerton India Credit Company Limited |
Megh Towers, Third Floor, Old No-307, New No-165, Poonamallee High Road, Maduravoyal, Chennai, Tamil Nadu - 600095, India |
B72980469 |
|
4 |
10302838 |
23/07/2011 |
23,000,000.00 |
Oriental Bank of Commerce |
Vishal Enclave, New Delhi, Delhi - 110027, India |
B19045616 |
|
5 |
10254917 |
02/11/2010 |
90,000,000.00 |
Oriental Bank of Commerce |
Vishal Enclave, New Delhi, Delhi - 110027, India |
B00706762 |
|
6 |
10229898 |
28/11/2013 * |
288,426,963.00 |
Oriental Bank of Commerce |
Vishal Enclave, New Delhi, Delhi - 110027, India |
B92108042 |
|
7 |
10229896 |
17/06/2010 |
1,900,000.00 |
Oriental Bank of Commerce |
Vishal Enclave, New Delhi, Delhi - 110027, India |
A89858864 |
|
8 |
10217009 |
23/07/2011 * |
8,012,314.00 |
Oriental Bank of Commerce |
Vishal Enclave, New Delhi, Delhi - 110027, India |
B19028422 |
|
9 |
10217666 |
19/03/2010 |
23,000,000.00 |
Oriental Bank of Commerce |
Vishal Enclave, New Delhi, Delhi - 110027, India |
A84364322 |
|
10 |
10217010 |
19/03/2010 |
50,000,000.00 |
Oriental Bank of Commerce |
Vishal Enclave, New Delhi, Delhi - 110027, India |
A84365030 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.25 |
|
|
1 |
Rs.101.72 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
33 |
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.