MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAPSONS INDUSTRIES LIMITED (w.e.f.06.03.1996) |
|
|
|
|
Formerly Known
As : |
KAPSONS ELECTRO-STAMPINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G T Road, Suranussi, Jalandhar – 144027, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.02.1987 |
|
|
|
|
Com. Reg. No.: |
16-007303 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 400.586
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909PB1987PLC007303 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDK00049A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK9887G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Stamping, Aluminium Dye Cast Components
used for Electrical and Auto Industries. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There seems dip in the profit of the company during 2013. However, trade relations are fair. Business is active. Payment 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a quarter
of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of Amway
India was arrested by the Andhra Pradesh Police in connection with a complaint
against the direct selling firm. This is the second time that he has been taken
into custody. A year, ago the Kerala Police had arrested Pinckney and two
company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : B+ |
|
Rating Explanation |
Have high risk of default. |
|
Date |
August 13, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk |
|
Date |
August 13, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Baljit Singh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9878424269 |
|
Date : |
18.06.2014 |
LOCATIONS
|
Registered Office/ Factory : |
G T Road, Suranussi, Jalandhar – 144027, Punjab, India |
|
Tel. No.: |
91-181-2670900/ 5066253 |
|
Mobile No.: |
91-9878424269 (Mr. Baljit Singh) |
|
Fax No.: |
91-181-2671901/ 5066328 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Narinder Kumar Sehgal |
|
Designation : |
Managing director |
|
Address : |
682-683, Model Town, Jalandhar, Punjab, India |
|
Date of Birth/Age : |
03.08.1958 |
|
Qualification : |
B. Com |
|
Experience : |
26 Years |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AFRPS3702B |
|
DIN No.: |
00232034 |
|
|
|
|
Name : |
Mr. Surinder Kumar Sehgal |
|
Designation : |
Whole-time director |
|
Address : |
682-683, Model Town, Jalandhar, Punjab, India |
|
Date of Birth/Age : |
18.03.1949 |
|
Qualification : |
B. Tech |
|
Experience : |
26 Years |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AFRPS3703A |
|
DIN No.: |
00232057 |
|
|
|
|
Name : |
Mrs. Sunita Sikka |
|
Designation : |
Director |
|
Address : |
C-3/61 , Janakpuri, New Delhi, India |
|
Date of Birth/Age : |
13.01.1956 |
|
Qualification : |
B.A |
|
Date of Appointment : |
21.02.2005 |
|
DIN No.: |
02547964 |
|
|
|
|
Name : |
Mr. Prashant Sehgal |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Baljit Singh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Surinder Kumar Sehgal |
|
11447910 |
|
Narinder Kumar Sehgal |
|
11467910 |
|
Sangeeta Sehgal |
|
114200 |
|
Anita Sehgal |
|
114200 |
|
Sunita Sikka |
|
400 |
|
Sankalp Vinimay Private Limited, India |
|
5304000 |
|
B. D. Finvest Private Limited, India |
|
1020000 |
|
|
|
|
|
Total |
|
29468620 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Surinder Kumar Sehgal |
|
3625000 |
|
Narinder Kumar Sehgal |
|
3649800 |
|
Sangeeta Sehgal |
|
1670000 |
|
Anita Sehgal |
|
1645200 |
|
|
|
|
|
Total |
|
10590000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
21.46 |
|
Directors
or relatives of directors |
78.54 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Stamping, Aluminium Dye Cast Components
used for Electrical and Auto Industries. |
|
|
|
|
Exports : |
|
|
Products : |
Pump |
|
Countries : |
· Dubai |
GENERAL INFORMATION
|
Customers : |
OEM’s |
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No. of Employees : |
500 (Approximately) |
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|
|||||||||||||||||||||
|
Bankers : |
· Punjab National Bank Civil Lines, Jalandhar - 144001, Punjab, India · Axis Bank Limited Opposite Mini Secretariat, Ladowali Road, Jalandhar - 144001, Punjab,
India · State Bank of India SME Branch, Civil Lines, Jalandhar - 144001, Punjab, India |
|||||||||||||||||||||
|
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|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
· Punjab Reliable Investments Private Limited 16, Defence Colony, Jalandhar, Punjab - 144001, Punjab, India · PKF Finance Limited 317, New Jawahar Nagar, Jalandhar, Jalandhar - 144001, Punjab, India · Punjab Kashmir Finance Limited 16 Defence Colony, Jalandhar - 144001, Punjab, India · Religare Finvest Limited D3, P3b, District Centre, Saket, New Delhi - 110017, India · Intec Capital Limited 701, Manjusha, 57 Nehru Place, New Delhi - 110019, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.K. Vatta and Company Chartered Accountants |
|
Address : |
Khanna Building, Milap Chowk , Jalandhar, Punjab, India |
|
Tel. No.: |
91-181-4616833 |
|
Fax No.: |
91-181-4616833 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAWPV0180G |
|
|
|
|
Associates : |
· Kapsons Electro Stampings ·
Kapsons Insulations Private Limited [U29303PB1990PTC010595] |
|
|
|
|
Subsidiary Company : |
· B.D. Finvest Private Limited [U65993PB1994PTC033371] · Sanklap Vinimay Private Limited [U51909WB2004PTC100629] ·
Kapsons Insulations Private Limited
[U29303PB1990PTC010595] |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs. 425.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 423.586
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29,900,000 |
Equity Shares |
Rs. 10/- each |
Rs. 299.000 Millions |
|
12,600,000 |
Preference Shares |
Rs. 10/- each |
Rs. 126.000 Millions |
|
|
Total |
|
Rs. 425.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29,468,620 |
Equity Shares |
Rs. 10/- each |
Rs. 294.686
Millions |
|
10,590,000 |
Preference Shares |
Rs. 10/- each |
Rs. 105.900
Millions |
|
|
Total |
|
Rs. 400.586 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
400.586 |
379.296 |
162.598 |
|
(b) Reserves & Surplus |
912.208 |
794.797 |
817.237 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
23.000 |
53.226 |
83.226 |
|
Total
Shareholders’ Funds (1) + (2) |
1335.794 |
1227.319 |
1063.061 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
251.724 |
355.431 |
408.041 |
|
(b) Deferred tax liabilities (Net) |
62.456 |
65.910 |
55.004 |
|
(c)
Other long term liabilities |
89.051 |
12.947 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
403.231 |
434.288 |
463.045 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1082.509 |
903.884 |
936.525 |
|
(b)
Trade payables |
560.199 |
555.042 |
363.274 |
|
(c)
Other current liabilities |
280.402 |
306.711 |
214.488 |
|
(d)
Short-term provisions |
31.000 |
34.710 |
52.574 |
|
Total
Current Liabilities (4) |
1954.110 |
1800.347 |
1566.861 |
|
|
|
|
|
|
TOTAL |
3693.135 |
3461.952 |
3092.967 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1624.694 |
1594.536 |
1465.452 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
42.995 |
39.495 |
34.495 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
3.921 |
3.515 |
2.490 |
|
(e)
Other Non-current assets |
0.770 |
0.860 |
0.000 |
|
Total
Non-Current Assets |
1672.380 |
1638.406 |
1502.437 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
87.974 |
67.423 |
5.682 |
|
(b)
Inventories |
550.219 |
600.470 |
703.290 |
|
(c)
Trade receivables |
1159.143 |
910.442 |
613.652 |
|
(d)
Cash and cash equivalents |
105.711 |
123.665 |
115.995 |
|
(e)
Short-term loans and advances |
79.486 |
82.240 |
79.011 |
|
(f)
Other current assets |
38.222 |
39.306 |
72.900 |
|
Total
Current Assets |
2020.755 |
1823.546 |
1590.530 |
|
|
|
|
|
|
TOTAL |
3693.135 |
3461.952 |
3092.967 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3343.646 |
3584.595 |
3248.831 |
|
|
|
Other Income |
14.095 |
10.583 |
12.632 |
|
|
|
TOTAL (A) |
3357.741 |
3595.178 |
3261.463 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2072.588 |
2263.967 |
2213.179 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
9.560 |
18.045 |
(24.252) |
|
|
|
Employee benefit expense |
147.250 |
162.320 |
137.830 |
|
|
|
Other expenses |
719.358 |
693.193 |
528.866 |
|
|
|
Exceptional items |
0.006 |
0.006 |
0.000 |
|
|
|
Extraordinary items |
15.215 |
0.000 |
0.003 |
|
|
|
TOTAL (B) |
2963.977 |
3137.531 |
2855.626 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
393.764 |
457.647 |
405.837 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
294.768 |
314.300 |
226.635 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
98.996 |
143.347 |
179.202 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
87.878 |
81.065 |
71.567 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11.118 |
62.282 |
107.635 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(3.453) |
24.421 |
33.218 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.571 |
37.861 |
74.417 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
US$ 1255424.31 Euro 435947.09 |
US$ 970804.36 Euro 682902.78 |
US$ 496044.13 Euro 744262.20 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Others |
US$ 856670.90 Euro 856670.90 |
US$ 2317679.80 Euro 174698.50 |
US$ 2512662.71 |
|
|
|
Capital Goods |
Nil Nil |
US$ 468600.00 Euro 16627.00 |
US$ 742775.00 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.53 |
1.38 |
4.58 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
5000.000 |
|
|
|
|
|
The above information has been parted by Mr. Baljit Singh (Finance
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.43
|
1.05 |
2.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.33
|
1.74 |
3.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.30
|
1.82 |
3.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.05 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.00
|
1.03 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
1.01 |
1.02 |
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 |
162.598 |
379.296 |
400.586 |
|
Reserves & Surplus |
817.237 |
794.797 |
912.208 |
|
Share Application money
pending allotment |
83.226 |
53.226 |
23.000 |
|
Net
worth |
1063.061 |
1227.319 |
1335.794 |
|
|
|
|
|
|
long-term borrowings |
408.041 |
355.431 |
251.724 |
|
Short term borrowings |
936.525 |
903.884 |
1082.509 |
|
Total
borrowings |
1344.566 |
1259.315 |
1334.233 |
|
Debt/Equity
ratio |
1.265 |
1.026 |
0.999 |
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) |
|
Sales |
3248.831 |
3584.595 |
3343.646 |
|
|
|
10.335 |
(6.722) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3248.831 |
3584.595 |
3343.646 |
|
Profit |
74.417 |
37.861 |
14.571 |
|
|
2.29% |
1.06% |
0.44% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
PUNJAB &
HARYANA HIGH COURT
CASE STATUS
INFORMATION SYSTEM
Case Status : PENDING
|
Status of CIVIL APPEAL/COMPANY APPLICATION 752 of 2012
M/S MALWA MANUFACTURING & TRADING
CORP
Vs.
KAPSONS INDUSTRIES LTD Pet's Adv.
: RAKESH BHATIA
Last Listed On : No Date
Mentioned List Type : NO LIST TYPE MENTIONED FIR No. : NO FIR DETAILS AVAILABLE /
NOT A CRIMINAL CASE Complaint No. : NO COMPLAINT DETAILS
AVAILABLE Category : NO CATEGORY MENTIONED :NO BENCH MENTIONED Last Hearing Detail 2 : NO BENCH
MENTIONED
Case Updated on: Wednesday, December
19, 2012 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10391614 |
15/12/2012 |
12,500,000.00 |
PUNJAB RELIABLE
INVESTMENTS PRIVATE LIMITED |
16DEFENCE COLONY,
JALANDHAR, PUNJAB, PUNJAB - 144001, INDIA |
B63985931 |
|
2 |
10391492 |
14/12/2012 |
5,000,000.00 |
PKF FINANCE
LIMITED |
317, NEW JAWAHAR
NAGAR, JALANDHAR, JALANDHAR, PUNJAB - 144001, INDIA |
B63938450 |
|
3 |
10391486 |
14/12/2012 |
7,500,000.00 |
PUNJAB KASHMIR
FINANCE LIMITED |
16DEFENCE
COLONY, JALANDHAR CITY, PUNJAB, PUNJAB - 144001, INDIA |
B63935878 |
|
4 |
10377429 |
14/09/2012 |
50,000,000.00 |
AXIS BANK
LIMITED |
OPPOSITE MINI
SECRETARIAT, LADOWALI ROAD, JALANDHAR, PUNJAB - 144001, INDIA |
B58450644 |
|
5 |
10362240 |
27/06/2012 |
265,000.00 |
RELIGARE FINVEST
LIMITED |
D3, P3B,
DISTRICT CENTRE, SAKET, NEW DELHI, DELHI - 110017, INDIA |
B42287656 |
|
6 |
10362182 |
27/06/2012 |
10,439,000.00 |
RELIGARE FINVEST
LIMITED |
D3, P3B, DISTRICT
CENTRE, SAKET, NEW DELHI, DELHI - 110017, INDIA |
B42257709 |
|
7 |
10357085 |
28/05/2012 |
5,473,000.00 |
INTEC CAPITAL
LIMITED |
701, MANJUSHA,
57 NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B40061582 |
|
8 |
10329517 |
16/01/2012 |
6,500,000.00 |
PKF FINANCE
LIMITED |
317, NEW JAWAHAR
NAGAR, JALANDHAR, JALANDHAR, PUNJAB - 144001, INDIA |
B29807179 |
|
9 |
10329511 |
16/01/2012 |
13,500,000.00 |
PKF FINANCE
LIMITED |
317, NEW JAWAHAR
NAGAR, JALANDHAR, JALANDHAR, PUNJAB - 144001, INDIA |
B29806320 |
|
10 |
10232954 |
19/06/2010 |
95,000,000.00 |
STATE BANK OF
INDIA |
SCB, CIVIL
LINES, JALANDHAR, PUNJAB - 144103, INDIA |
A91757294 |
|
11 |
10216800 |
20/01/2014 * |
350,000,000.00 |
CANARA BANK |
BMC CHOWK,
JALANDHAR, PUNJAB - 144001, INDIA |
B97050769 |
|
12 |
10096539 |
04/09/2012 * |
199,000,000.00 |
STATE BANK OF
INDIA |
SME BRANCH,
CIVIL LINES, JALANDHAR, PUNJAB - 144001, INDIA |
B60912664 |
|
13 |
90172096 |
12/09/2012 * |
1,390,000,000.00 |
STATE BANK OF
INDIA |
SME BRANCH, CIVIL
LINES, JALANDHAR, PUNJAB - 144001, INDIA |
B58488313 |
|
14 |
90169441 |
30/03/2001 * |
200,500,000.00 |
STATE BANK OF
INDIA |
SPLD. COMMERCIAL
BRANCH, CIVIL LINES, JALANDHAR, PUNJAB, INDIA |
- |
|
15 |
90170998 |
17/10/2000 * |
140,400,000.00 |
STATE BANK OF
INDIA |
SPLD. COMMERCIAL
BRANCH, CIVIL LINES, JALANDHAR, PUNJAB, INDIA |
- |
|
16 |
90171929 |
28/04/1998 |
128,000,000.00 |
STATE BANK OF
INDIA |
SPLD. COMMERCIAL
BRANCH, CIVIL LINES, JALANDHAR, PUNJAB, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
31.429 |
54.090 |
|
|
|
|
|
Total |
31.429 |
54.090 |
MANAGEMENT DISCUSSION
AND ANALYSIS
INDIAN STAMPING
INDUSTRY - AN OVERVIEW
The Stamping Industry is an integral part of manufacturing
sector of Indian Economy. The effect of global economy movements impacts the
economy. The improvement has been seen in last three years after the global
meltdown. Indian casting industry is quit hopeful for exertive growth in
current as well as coming year.
COMPANY UPDATE
Kapsons Industries Limited is a Company engaged in manufacturing of Stamping, Aluminium Dye Cast Components used for Electrical & Auto Industries for manufacturing of Fans, Motors, Alternators, Various OVMs, Indian Railways etc. for various electrical equipments.
FINANCIAL AND
OPERATIONAL PERFORMANCE
With the constant efforts and devotion of its management and workers, the Company has decreased his sales turnover of Rs. 3343.600 Millions as compared to last years figure of Rs. 3584.500 Millions, recording a decrease of 06.72% over the previous financial year. The net profits of the Company after tax are Rs. 14.500 Millions in comparison to Rs. 37.800 Millions during the last year’s net profits, recording a decrease of 61.64% over the previous financial year, The directors are expecting and putting constant efforts to further improve / increase the production and sales and achieve higher profitability in the coming years.
INDUSTRY FUTURE AND
COMPANY RESPONSE
Since, the Company is producing Industrial products to be
used by electrical equipment manufacturers, Auto Industry, and the some items
are consumed directly by the end use customers and Industry. Many of its items
are used in the Electrical Equipments or Plant & Machinery, directly used
in the development of Infrastructure. As Infrastructure growth is good in
India, the requirement of the Company product will be always be in demand. Even
in the Auto Industry, is also good for growth, the demand for its pressurized
die components will be maintained over the number of coming year. The Company
is making constant changes in its system of production per the requirements of
the Customers with respect to the quality, cost and timely delivery of
products. Thus, taking it as a positive indicator the Company’s response has
been to broad base its production level. New machineries continue to be
installed and further machinery is proposed & planned to be installed to
meet the rising demands in future.
FUTURE OUTLOOK /
EXPANSION
The Company has achieved the highest ever sales during the
year since inception of the company. Further, considering the demand of the
customers, the Company is in process to enlarge its production base and for
that purpose further new machinery is proposed to be installed. The company is
regularly conversing with its bankers and other financial institutions to
provide finance for the expansion in production facilities and it is expected
that by proposed induction f new machinery and by up gradation of technology,
the production level and sales would be further improved during the current
year. The Company is also making lot of investments and value additions of the
existing products to improve quality and customer dependency on its products.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
a) Towards Bank Guarantees/letter of credits In favour of
the suppliers etc. |
189.050 |
189.050 |
|
b) Towards disputed Excise tax demands for which the
Company has preferred Appeals/raised objections with the appropriate
authorities. |
23.692 |
25.625 |
|
c) Towards disputed service tax demands for which the
Company has preferred Appeals/raised objections with the appropriate
authorities. |
0.323 |
0.000 |
|
d) Towards disputed VAT demands for which the Company has
preferred Appeals/raised objections with the appropriate authorities. |
4.132 |
13.626 |
|
e) Towards unpaid dividend on 9% cumulative Redeemable Preferences shares |
9.531 |
9.531 |
|
f) Towards corporate guarantee to bank of its Subsidiary company |
199.000 |
199.000 |
|
|
|
|
|
Total |
425.728 |
436.832 |
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Motor 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 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. 60.12 |
|
|
1 |
Rs. 102.00 |
|
Euro |
1 |
Rs. 81.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
28 |
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.