MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
KRYFS POWER COMPONENTS LIMITED (w.e.f. 09.06.2006) |
|
|
|
|
Formerly Known
As : |
KRYFS LAMINATIONS LIMITED (w.e.f.01.06.2006) KRYFS LAMINATIONS PRIVATE LIMITED |
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|
Registered
Office : |
Aza House, 3rd Floor, 24 Turner Road, Bandra (West), Mumbai
– 400050, Maharashtra |
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|
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
05.03.1991 |
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|
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Com. Reg. No.: |
11-060602 |
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Capital
Investment / Paid-up Capital : |
Rs. 83.333
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1991PLC060602 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK10554F |
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|
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PAN No.: [Permanent Account No.] |
AAACK2791F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Transformer Laminations. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems dip in profit and sales of the company in FY 2012-2013.
However, networth seems to be good. Liquidity position seems to be strong. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like messaging
service Weibo Corporation has filed to raise $ 500 million via a US initial
public offering. Alibaba, which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation
raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon
rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : A- |
|
Rating Explanation |
Adequate credit quality and average credit risk.
|
|
Date |
December 27, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : A2+ |
|
Rating Explanation |
Strong degree of safety and very high credit
risk. |
|
Date |
December 27, 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 DENIED
Management Non Co-operative (91-22-67859999)
LOCATIONS
|
Registered / Corporate Office : |
Aza House, 3rd Floor, |
|
Tel. No.: |
91-22-26443533 / 67859999 / 26443522 |
|
Fax No.: |
91-22-67859999 / 26434462 / 67859988 |
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E-Mail : |
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Website : |
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Factory 1 : |
Kherdi Unit, Survey No. 211/1 and 193/1, Kherdi Main Road, Near HPCL,
Kherdi Village, Silvassa -396230, Dadra and Nagar Haveli, Union Territory,
India |
|
Tel. No.: |
91-260-2677312 |
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Fax No.: |
91-260-2677312 |
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|
|
|
Factory 2 : |
Palghar, Plot 75, Diwan Industrial Estate, Bidco Road, Mahim Village,
Palghar 401404, Maharashtra, India |
|
Tel. No.: |
91-9525-25254780 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Saifuddin Fakhruddin Qureishi |
|
Designation : |
Managing director |
|
Address : |
1101, DIAGO D, Sherly Rajan Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
12.05.1964 |
|
Qualification : |
M B A (IIM-Bangalore) and BSc. (Physics) |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
AAAPQ0313J |
|
Voter ID No.: |
MT/08/036/195568 |
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DIN No.: |
00098955 |
|
|
|
|
Name : |
Mr. Sanjay Khatau Asher |
|
Designation : |
Director |
|
Address : |
32, Modi Street, Next to GPO, Fort, Mumbai – 400001, Maharashtra,
India |
|
Date of Birth/Age : |
26.11.1964 |
|
Qualification : |
Solicitor LLB & CA |
|
Date of Appointment : |
18.05.2006 |
|
DIN No.: |
00008221 |
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|
|
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Name : |
Mr. Rauzat Saifuddin Qureishi |
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Designation : |
Whole-time director |
|
Address : |
1101, DIAGO D, Sherly Rajan Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
01.03.1967 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
AAAPQ0618C |
|
Voter ID No.: |
MT/08/036/196459 |
|
DIN No.: |
00098990 |
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|
|
|
Name : |
Mr. Rakesh Madan Nanda |
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Designation : |
Director |
|
Address : |
Navjivan Commercial Building, 3 ‘A’ Wing, 9th Floor, Office
No.20, Mumbai Central (East), Mumbai - 400008, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1962 |
|
Qualification : |
Graduate |
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Date of Appointment : |
18.05.2006 |
|
DIN No.: |
00208359 |
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|
|
|
Name : |
Shizuka Hayashi |
|
Designation : |
Nominee director |
|
Address : |
4-39-2-102, Tamagawa, Setagaya Ku, Tokyo-1580094, Japan |
|
Date of Birth/Age : |
15.10.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
06.08.2012 |
|
DIN No.: |
03316927 |
KEY EXECUTIVES
|
Name : |
Mr. Vishwanath |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Saifuddin Fakhruddin Qureishi and Fakhruddin Bakirali Qureishi |
|
4235942 |
|
Fakhruddin Bakirali Qureishi and Saifuddin Fakhruddin Qureishi |
|
2363882 |
|
Kulsum Fakhruddin Qureishi |
|
675113 |
|
Rauzat Saifuddin Qureishi |
|
204879 |
|
Yasmin Minhaz Karachiwala |
|
20000 |
|
Shabbir Minhaz Karachiwala |
|
84 |
|
Shireen Saifuddin Qureishi |
|
100 |
|
Toyoto Tsusho Corporation, Japan |
|
833333 |
|
|
|
|
|
Total |
|
8333333 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
10.00 |
|
Directors
or relatives of directors |
90.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Transformer Laminations. |
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Products/ Services : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
USA |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Electrical Lamination, Strips and Cores (Excludes scrap) |
M.T. |
30000.00 |
*28000.817 |
|
Polyester Slings |
Nos. |
60000 |
36343 |
|
Transformers |
KVA |
1250000 |
153 Nos 808815 KVA |
NOTES:
*Includes production on job work basis 4045.397 M. T.
GENERAL INFORMATION
|
Customers : |
End Users · ABB · ALSTOM · Areva · Bharat Bijlee Limited · Bharat Heavy Electricals Limited · Crompton Greaves Limited · ECE Industries Limited · Emco Transformers Limited · IMP Powers Limited · Indotech Transformers (Now part of GE) · Karnataka Vidhyut Karkhane · Kanohar Electrical Limited · Schneider Electric · Siemens · TELK · Transformers and Rectifiers (India) Limited · Voltamp Transformers Limited |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Bank of India, Mumbai Large Corporate Branch, Bank of
India Building, 70/80, M.G. Road, Mumbai - 400023, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Asutosh and Pankaj Chartered Accountants |
|
Address : |
914 A, Sagar Tech Plaza, Sakinaka Junction, Andheri
[East], Mumbai – 400072, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAOFA9042Q |
|
|
|
|
Associate : |
· Shaali Estates Private Limited · Qureishi Enterprises · KRYFS Charitable Trust ·
Fairco Exports |
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|
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|
Subsidiary company
: |
· Pratik Transformers Private Limited [U40104GJ2003PTC042845] ·
KRYFS Engineering Private Limited
[U74120MH2012PTC231003] |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital : Rs.150.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.88.542 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14150000 |
Equity Shares |
Rs. 10/- each |
Rs.141.500 Millions |
|
850000 |
Preference Shares |
Rs. 10/- each |
Rs. 8.500 Millions |
|
|
Total |
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8333333 |
Equity Shares |
Rs. 10/- each |
Rs.83.333
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 |
83.333 |
88.235 |
88.235 |
|
(b) Reserves & Surplus |
1521.291 |
1522.326 |
1413.805 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1604.624 |
1610.561 |
1502.040 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
64.438 |
53.653 |
50.034 |
|
(c) Other long term
liabilities |
2.444 |
1.866 |
2.395 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.258 |
|
Total Non-current Liabilities
(3) |
66.882 |
55.519 |
52.687 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
229.499 |
468.524 |
96.823 |
|
(b) Trade payables |
901.519 |
868.591 |
621.878 |
|
(c) Other current
liabilities |
144.146 |
64.026 |
74.245 |
|
(d) Short-term
provisions |
17.765 |
13.663 |
13.580 |
|
Total Current
Liabilities (4) |
1292.929 |
1414.804 |
806.526 |
|
|
|
|
|
|
TOTAL |
2964.435 |
3080.884 |
2361.253 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
670.269 |
489.739 |
505.648 |
|
(ii) Intangible Assets |
1.165 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
34.623 |
83.506 |
32.612 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.979 |
10.401 |
15.353 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
70.381 |
0.000 |
15.703 |
|
(e) Other
Non-current assets |
31.122 |
28.592 |
4.399 |
|
Total Non-Current
Assets |
815.539 |
612.238 |
573.715 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
503.931 |
478.863 |
349.216 |
|
(c) Trade receivables |
1392.996 |
1698.401 |
1243.066 |
|
(d) Cash and cash
equivalents |
16.444 |
71.862 |
55.090 |
|
(e) Short-term loans and
advances |
28.997 |
37.750 |
140.166 |
|
(f) Other current
assets |
206.528 |
181.770 |
0.000 |
|
Total Current Assets |
2148.896 |
2468.646 |
1787.538 |
|
|
|
|
|
|
TOTAL |
2964.435 |
3080.884 |
2361.253 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
4369.600 |
4727.434 |
4080.773 |
|
|
|
Other Income |
19.808 |
16.990 |
38.979 |
|
|
|
TOTAL (A) |
4389.408 |
4744.424 |
4119.752 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3798.165 |
3957.257 |
3212.550 |
|
|
|
Purchases of stock-in-trade |
40.601 |
77.065 |
153.645 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(78.831) |
(19.750) |
8.230 |
|
|
|
Employee benefit expense |
132.709 |
118.768 |
92.488 |
|
|
|
Other expenses |
267.279 |
269.183 |
197.685 |
|
|
|
Exceptional items |
84.154 |
93.920 |
0.000 |
|
|
|
TOTAL (B) |
4244.077 |
4496.443 |
3664.598 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
145.331 |
247.981 |
455.154 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
65.287 |
42.170 |
47.181 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
80.044 |
205.811 |
407.973 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
49.276 |
42.672 |
40.714 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
30.768 |
163.139 |
367.259 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.020 |
54.618 |
124.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.748 |
108.521 |
242.652 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
991.734 |
539.595 |
372.572 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3118.317 |
3291.086 |
2334.395 |
|
|
|
Stores & Spares |
1.479 |
3.888 |
0.895 |
|
|
|
Capital Goods |
43.359 |
15.096 |
1.646 |
|
|
TOTAL IMPORTS |
3163.155 |
3310.070 |
2336.936 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.67 |
12.30 |
27.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.31
|
2.29 |
5.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.70
|
3.45 |
9.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.05
|
5.46 |
15.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.10 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.14
|
0.29 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66
|
1.74 |
2.22 |
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 |
88.235 |
88.235 |
83.333 |
|
Reserves & Surplus |
1413.805 |
1522.326 |
1521.291 |
|
Net
worth |
1502.040 |
1610.561 |
1604.624 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
96.823 |
468.524 |
229.499 |
|
Total
borrowings |
96.823 |
468.524 |
229.499 |
|
Debt/Equity
ratio |
0.064 |
0.291 |
0.143 |
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 |
4,080.773 |
4,727.434 |
4,369.600 |
|
|
|
15.847 |
(7.569) |
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
|
4,080.773 |
4,727.434 |
4,369.600 |
|
Profit |
242.652 |
108.521 |
13.748 |
|
|
5.95% |
2.30% |
0.31% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT IS NOT AVAILABLE.
|
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 |
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 |
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 |
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 |
10040414 |
07/06/2010 * |
1,400,000,000.00 |
BANK OF INDIA |
MUMBAI LARGE CORPORATE
BRANCH, BANK OF INDIA BLDG, |
A89266688 |
|
2 |
90152593 |
25/01/2007 * |
855,000,000.00 |
BANK OF INDIA |
MUMBAI LARGE
CORPORATE BRANCH, BANK OF INDIA BLDG, |
- |
|
3 |
90153355 |
20/02/2004 * |
62,000,000.00 |
BANK OF INDIA |
MUMBAI LARGE
CORPORATE BRANCH, BANK OF INDIA BLDG, |
- |
|
4 |
90152500 |
25/01/2007 * |
855,000,000.00 |
BANK OF INDIA |
MUMBAI LARGE
CORPORATE BRANCH, BANK OF INDIA BLDG, |
A10076438 |
|
5 |
90153352 |
18/01/1999 * |
62,000,000.00 |
BANK OF INDIA |
MUMBAI LARGE CORPORATE
BRANCH, BANK OF INDIA BLDG, |
- |
|
6 |
90152989 |
08/02/1994 |
288,000.00 |
BOMBAY
MERCANTILE CO-OP. BANK LIMITED |
MAULANA AZAD
ROAD BRANCH, BOMBAY - 400008, MAHARASHTRA, INDIA |
- |
* Date of charge modification
Note:
The Registered Office of the company has been shifted from 101, Classic
Corner, 133,
CORPORATE
INFORMATION:
KRYFS (Kryfs Power Components Limited) Established in 1991 is India's first ISO 9001:2000 certified facility for manufacturing of Transformers , Slings and Government recognized Star Export House. KRYFS has won several awards for outstanding export performance from EEPC. KRYFS has a total shed area of over 300,000 sq.ft, with a total capacity to produce 45,000MT per annum of Transformer Core Lamination and 3000MT of Torroidal Cores, making it the single largest manufacturer of Transformer Core Laminations in India. In 1997, KRYFS set up a second green field plant at Kherdi (DNH), 140kms North of Mumbai. KRYFS exports to 22 countries around the globe.
KRYFS is India’s leading manufacturer of 3 Star Rating
Transformers with a state-of –the-art manufacturing unit at DNH, a sales tax
exempted zone, 140km north of Mumbai.
OPERATING RESULTS AND
BUSINESS:
For the year ended 31st March 2013, the company earned total net income of Rs 4369.600 Millions (Gross income of Rs 4844.130 Millions) as compared to previous year Rs 4727.434 Millions (Gross income Rs 5206.115 Millions). The Profit before Taxes was Rs 30.771 Millions as compared to previous year Rs 163.139 Millions.
During the financial year the Dispatch of
CRGO/Cores/Laminations increased in quantity terms by 7.32 % from 33837 MT
(previous year) to 31529 MT.
FIXED ASSETS:
·
Land
·
Buildings
·
Factory building
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Other equipments
·
Computer equipments
·
Computer software
AS PER WEBSITE DETAILS
NEWS
Toyota Tsusho
Corporation, a subsidiary of Japanese automobile giant Toyota Motors, acquires
a strategic stake of 10 % in KRYFS
- November 2012
Total manufacturing capability
reached to 40000 MTPA With addition of further 2 automatic cut to length
lines
- July 2012
Installed LARA-Turkey
machine for manufacturing of Torroidal (wound cores).
- June 2012
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 : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
46 |
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.