MIRA
INFORM REPORT
|
Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAYKAY SCAFFOLDING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Jujva Pathri, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.05.2004 |
|
|
|
|
Com. Reg. No.: |
04-044190 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26954GJ2004PTC044190 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Scaffolding, Shuttering, Anticrash Guard Metal
Barriers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 67000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Profitability of the company is low. External borrowing of the company
has increased. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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 – December 1, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income tax
department has information that they have made cash deposits announcing to Rs 1
mn or more in their savings bank accounts in the current financial year. It
plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
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 DECLINED BY
|
Name : |
Mr. Navin |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-79-26579651 |
|
Date : |
11.03.2014 |
LOCATIONS
|
Registered Office : |
Jujva Pathri, Dharampur Road, Valsad-396001, Gujarat, India |
|
Tel. No.: |
91-2632-227065 |
|
Fax No.: |
91-2632-256485 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Ahmedabad Office : |
104, Narayan Chambers, Opposite PAtang Hotel, Ashram Road, Ahmedabad-380009,
Gujarat, India |
|
Tel. No.: |
91-79-26579651 |
|
|
|
|
Mumbai Office : |
Flat No. B/302, 3rd Floor, Plot No. D-323940, Sector No.9,
Dive, Airoli-400708, Navi Mumbai, India
|
|
Tel. No.: |
91-2232-430972 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Biren Kantilal Champaneri |
|
Designation : |
Director |
|
Address : |
Godavari Baug, Tithal Road, Valsad-396001, Gujarat, India |
|
Date of Birth/Age : |
27.07.1970 |
|
Date of Appointment : |
26.05.2004 |
|
DIN No.: |
00852778 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U99999MH1993PLC075585 |
VIKEM AMUSEMENT
RIDES LIMITED |
Director |
01/04/2004 |
01/04/2004 |
Active |
NO |
|
2 |
U26954GJ2004PTC044190 |
KAYKAY
SCAFFOLDING PRIVATE LIMITED |
Director |
26/05/2004 |
26/05/2004 |
Active |
NO |
|
3 |
U45200MH2004PTC025668 |
J B CONSTRUCTION
PRIVATE LIMITED |
Director |
30/09/2004 |
30/09/2004 |
Active |
NO |
|
4 |
U36930MH2007PTC169968 |
PARKASH VIKEM
AMUSEMENT PRIVATE LIMITED |
Director |
13/04/2007 |
13/04/2007 |
Active |
NO |
|
5 |
U92190DL2008PTC183944 |
PV AQUAFUN
PRIVATE LIMITED |
Additional
director |
15/12/2010 |
03/10/2008 |
Active |
NO |
|
6 |
U74140DL2002PTC115632 |
TIME N CASH
MANAGEMENT INDIA PRIVATE LIMITED |
Director |
28/09/2012 |
04/02/2012 |
Active |
NO |
|
7 |
U51909DL2005PTC135915 |
NABH EXPORTS
PRIVATE LIMITED |
Director |
28/09/2012 |
23/03/2012 |
Active |
NO |
|
8 |
U27203MH1981PTC024761 |
SAHYADRI STEEL
TUBES PRIVATE LIMITED |
Director |
25/08/2012 |
25/08/2012 |
Active |
NO |
|
Name : |
Mr. Kinnar Bagwandas |
|
Designation : |
Director |
|
Address : |
Urmi Jackson Hill, Near Microwave Tower, Nanakwada, Tithal Road,
Valsad-396001, Gujarat, India |
|
Date of Birth/Age : |
02.06.1965 |
|
Date of Appointment : |
26.05.2004 |
|
DIN No.: |
02909639 |
|
|
|
|
Name : |
Mr. Kantilal Laljibhai Champaneri |
|
Designation : |
Director |
|
Address : |
Godavari Baug, Tithal Road, Valsad-396001, Gujarat, India |
|
Date of Birth/Age : |
12.01.1942 |
|
Date of Appointment : |
26.05.2004 |
|
DIN No.: |
01811291 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27203MH1981PTC024761 |
SAHYADRI STEEL
TUBES PRIVATE LIMITED |
Director |
08/07/1981 |
08/07/1981 |
Active |
NO |
|
2 |
U26954GJ2004PTC044190 |
KAYKAY
SCAFFOLDING PRIVATE LIMITED |
Director |
26/05/2004 |
26/05/2004 |
Active |
NO |
|
3 |
U45200MH2004PTC025668 |
J B CONSTRUCTION
PRIVATE LIMITED |
Director |
30/09/2004 |
30/09/2004 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Navin |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
Biren Kantilal Chamoaneri |
156,000 |
34.67 |
|
Kantilal Laljibhai Chmpaneri |
100000 |
22.22 |
|
|
154000 |
34.22 |
|
Bhagwandas Jamnadas Bhandutiya
|
40000 |
8.89 |
|
TOTAL |
450,000 |
100.00 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Scaffolding, Shuttering, Anticrash Guard Metal
Barriers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Vijaya Bank, Kalaniketan Apartments, Opposite
Government Colony, Tithal Road, Valsad-396001, Gujarat, India |
|||||||||||||||||||||||||||||||||
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|
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
G B Laddha and Company Chartered Accountant |
|
Address : |
1-2, Sahata Market, 2nd Floor, Silcassa Road, Vapi-396191,
Gujarat, India |
|
PAN No.: |
AAEFG2280N |
|
|
|
|
Related Parties : |
· National Trading Corporation ·
Vikem Amusement Rides Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs.10/- each |
Rs. 4.500
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 |
4.500 |
4.500 |
4.500 |
|
(b) Reserves & Surplus |
12.320 |
10.773 |
9.614 |
|
(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) |
16.820 |
15.273 |
14.114 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.437 |
0.054 |
0.198 |
|
(b) Deferred tax liabilities (Net) |
0.942 |
0.111 |
0.140 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
1.379 |
0.165 |
0.338 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
47.243 |
28.634 |
26.681 |
|
(b) Trade payables |
76.763 |
74.725 |
51.788 |
|
(c) Other current
liabilities |
7.016 |
10.851 |
9.619 |
|
(d) Short-term provisions |
0.468 |
0.280 |
0.456 |
|
Total Current Liabilities (4) |
131.490 |
114.490 |
88.544 |
|
|
|
|
|
|
TOTAL |
149.689 |
129.928 |
102.996 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.086 |
9.185 |
9.293 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.268 |
1.670 |
0.030 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
24.354 |
10.855 |
9.323 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
29.560 |
37.896 |
23.108 |
|
(c) Trade receivables |
88.950 |
67.098 |
48.572 |
|
(d) Cash and cash
equivalents |
1.330 |
9.722 |
17.320 |
|
(e) Short-term loans and
advances |
5.495 |
4.357 |
4.673 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
125.335 |
119.073 |
93.673 |
|
|
|
|
|
|
TOTAL |
149.689 |
129.928 |
102.996 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
250.661 |
232.405 |
186.377 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
|
|
|
|
|
|
Purchase of Stock In Trade |
|
|
|
|
|
|
Employee benefits expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
2.894 |
1.411 |
1.746 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.347 |
0.309 |
0.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1.547 |
1.102 |
1.369 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
16.506 |
6.916 |
-- |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.44 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.15
|
0.61 |
0.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.93
|
1.09 |
1.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.09 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.83
|
1.88 |
1.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
1.04 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
4.500 |
4.500 |
4.500 |
|
Reserves & Surplus |
9.614 |
10.773 |
12.320 |
|
Net
worth |
14.114 |
15.273 |
16.820 |
|
|
|
|
|
|
long-term borrowings |
0.198 |
0.054 |
0.437 |
|
Short term borrowings |
26.681 |
28.634 |
47.243 |
|
Total
borrowings |
26.879 |
28.688 |
47.680 |
|
Debt/Equity
ratio |
1.904 |
1.878 |
2.835 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
186.377 |
232.405 |
250.661 |
|
|
|
24.696 |
7.855 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
186.377 |
232.405 |
250.661 |
|
Profit |
1.369 |
1.102 |
1.547 |
|
|
0.73% |
0.47% |
0.62% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10019739 |
06/02/2007 * |
20,000,000.00 |
VIJAYA BANK |
TITHAL ROAD BRANCH, TITHAL ROAD, VALSAD, GUJARAT - 396001, INDIA |
A04059549 |
|
2 |
10017988 |
27/11/2013 * |
83,000,000.00 |
Vijaya Bank |
KALANIKETAN APARTMENTS, OPP.GOVT COLONY, TITHAL ROAD, VALSAD, GUJARAT
- 396001, INDIA |
B90494683 |
|
3 |
10017979 |
14/08/2006 |
500,000.00 |
VIJAYA BANK |
TITHAL ROAD,, VALSAD, GUJARAT - 396001, INDIA |
A04059861 |
|
4 |
10019735 |
14/08/2006 |
6,000,000.00 |
VIJAYA BANK |
TITHAL ROAD,, VALSAD, GUJARAT - 396001, INDIA |
A04148532 |
|
5 |
10017977 |
14/08/2006 |
7,500,000.00 |
VIJAYA BANK |
TITHAL ROAD,, VALSAD, GUJARAT - 396001, INDIA |
A04059325 |
|
6 |
10017978 |
14/08/2006 |
10,000,000.00 |
VIJAYA BANK |
TITHAL ROAD,, VALSAD, GUJARAT - 396001, INDIA |
A04059770 |
|
* Date of charge modification |
||||||
CORPORATE
INFORMATION
Subject is Private
limited Company incorporated under the provision of companies Act, 1956. The
Company is engaged in Manufacturing of Scaffolding, Shuttering, Anticrash
Guard Metal Barriers.
FIXED ASSETS
·
Flat
·
Staff Quarters
·
Factory Building
·
Air Conditioner
·
Electrification
·
Plant and Machinery
·
Intercom
·
Furniture and Fixtures
·
Motor Car
·
Motor Bike
·
Scooter
·
Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.69 |
|
|
1 |
Rs. 100.96 |
|
Euro |
1 |
Rs. 84.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.
MIRA
INFORM REPORT
|
Report Date : |
12.03.2014 |
|
|
|
|
Tel. No.: |
91-129-4170003 |
|
Fax No.: |
91-129-4170003 |
IDENTIFICATION DETAILS
|
Name : |
LUXMI ELECTRICALS AND ENGINEERING WORKS |
|
|
|
|
Registered
Office : |
1D-62 A, NIT, Faridabad – 121 001, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
1989 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 million (Estimated) |
|
|
|
|
IEC No.: |
0508063680 |
|
|
|
|
TIN No.: |
06591214798 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALPA5262H |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Trader of Electrical Control Panels such as
PCC, APFC, MCC, AMF, PDB/SDB and Switchgears. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established
proprietary concern having satisfactory track record. Trade relations
are fair. Business is active. Payment terms are reported as usually correct. The concern can
be considered 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi slipped
four notches to become the world’s eighth most expensive office locations.
London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
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. Ankush Arora |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-965475573 |
|
Date : |
05.03.2014 |
LOCATIONS
|
Registered Office/ Factory : |
1D-62 A, NIT, Faridabad – 121 001, Haryana, India |
|
Tel. No.: |
91-129-4170003 |
|
Mobile No.: |
91-965475573 (Mr. Ankush Arora) |
|
Fax No.: |
91-129-4170003 |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. Varinder Kumar Arora |
|
Designation : |
Proprietor |
|
Address : |
415, Sector-7/B, Faridabad – 121 006, Haryana, India |
KEY EXECUTIVES
|
Name : |
Mr. Ankush Arora |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Trader of Electrical Control Panels such as
PCC, APFC, MCC, AMF, PDB/SDB and Switchgears. |
|
|
|
|
Products : |
·
Electrical Control Panels ·
Chemical Earthing ·
Busdusct and Rising Main ·
Switchgear |
|
|
|
|
Exports : |
|
|
Products : |
·
Electrical Control Panels ·
Chemical Earthing ·
Busdusct and Rising Main ·
Switchgear |
|
Countries : |
·
Asian Countries |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Retailers and Others |
|
|
|
|
No. of Employees : |
30 (Approximately) |
|
|
|
|
Bankers : |
Punjab National Bank, Faridabad – 121 001, Haryana, India (Account
No.: 1111009300006488) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Memberships : |
(FETA) Faridabad Electrical Trade Association |
|
|
|
|
Sister Concern : |
Shri Ram
Electricals Activity: Dealing in trading of Electrical Goods. |
CAPITAL STRUCTURE
AS ON 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs.1.000 million (Estimated) |
|
Borrowed : |
-- |
|
Total : |
Rs.1.000 million (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
15.000 |
12.500 |
|
|
|
|
|
The above information has been parted by Mr. Ankush Arora (Chief
Executive Officer).
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR in Mlns) |
(INR in Mlns) |
|
Sales
Turnover (Approximately) |
|
12.500 |
15.000 |
|
|
|
|
20.000 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
No |
|
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) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
No |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
No |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
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 records 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 records 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.60.70 |
|
|
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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 |
-- |