1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Kundan Rice Mills Limited (PART IX CO.) |
Principal Name 1 |
Mr. Pradeep Garg |
|
Status |
Moderate |
Principal Name 2 |
Mr. Praphul Kumar |
|
|
|
Registration # |
55-64113 |
|
Street Address |
D-16 and 17, Central Market,
Prasant Vihar, New Delhi – 110085, India |
||
|
Established Date |
05.01.1995 |
SIC Code |
-- |
|
Telephone# |
91-11-27567171 (10 Lines) |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-27567180/ 27865180 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Rice |
|
|
# of employees |
100
(Approximately) |
Product Name 2 |
Edible Oil |
|
Paid up capital |
Rs.79,415,000/- |
Product Name 3 |
Chemicals |
|
Shareholders |
Directors or relatives of
directors- 100% |
Banking |
Indian Overseas Bank |
|
Public Limited Corp. |
No |
Business Period |
19 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B
(30) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Other
Related Party |
-- |
Kundan Care Products Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
12,047,663,000 |
Current Liabilities |
1,698,246,000 |
|
Inventories |
1,516,416,000 |
Long-term Liabilities |
11,114,866,000 |
|
Fixed Assets |
145,234,000 |
Other Liabilities |
8,661,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
12,821,773,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
808,125,000 |
|
|
|
Net Worth |
887,540,000 |
|
Total Assets |
13,709,313,000 |
Total Liab. & Equity |
13,709,313,000 |
|
Total Assets (Previous Year) |
27,383,576,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
26,510,021,000 |
Net Profit |
46,569,000 |
|
Sales(Previous yr) |
63,436,859,000 |
Net Profit(Prev.yr) |
111,614,000 |
MIRA
INFORM REPORT
|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KUNDAN RICE MILLS LIMITED (PART IX CO.) |
|
|
|
|
Registered
Office : |
D-16 and 17, Central Market,
Prasant Vihar, New Delhi – 110085 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.01.1995 |
|
|
|
|
Com. Reg. No.: |
55-064113 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.79.415
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC064113 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKK01578D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK7098P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Rice, Edible Oil and Chemicals. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
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 3500000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was initially setup as a partnership firm and later reconstituted
as a company in 1995. It is an established company having moderate track record. Profitability of the company appears to be low. External borrowing of
the company seems to be huge, which act as threatening to the liquidity
position of the company. 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 – 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
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.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers with
access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
India Rating and Research |
|
Rating |
Long Term Rating = BB+ |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of payment
obligations |
|
Date |
05.03.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non-Corporative (91-11-27567171)
LOCATIONS
|
Registered/ Corporate Office : |
D-16 and D-17, Central Market, Prashant Vihar, New Delhi –
110085, India |
|
Tel. No.: |
91-11-27567171 (10 Lines)/ 27865180/ 27865160 |
|
Fax No.: |
91-11-27567180/ 27865180/ 7567180 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
E-4, Industrial Area, Pasina Kalan, Panipat, Haryana, India |
|
|
|
|
Factory 2 : |
12, |
|
Tel. No.: |
91-33-22356734 / 32919301 |
|
Fax No.: |
91-33-22356734 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
17, Bhailal Bhawan 1st Floor, 118, Keshv Ji, Naik Road,
Chinch Bunder, Mumbai – 400008, Maharashtra, India |
|
Tel. No.: |
91-22-67106212 |
|
Fax No.: |
91-22-28389292 |
|
E-Mail : |
|
|
|
|
|
Factory 4 : |
78, City Centre, Room No. 22/23, Second Floor, 118, Keshav Ji, Swastik
Char Rasta, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-32995206 |
|
Fax No.: |
91-79-26560627 |
|
E-Mail : |
|
|
|
|
|
Overseas Office : |
Located
At : ·
·
Dubai |
|
|
|
|
Branch Office : |
Located
At : ·
Mumbai ·
Ahmedabad ·
·
Kolkata ·
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Pradeep Garg |
|
Designation : |
Director |
|
Address : |
B-324, Saraswati Vihar, New Delhi-110034, India |
|
Date of Birth/Age : |
10.03.1962 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00568542 |
|
|
|
|
Name : |
Mr. Praphul Kumar |
|
Designation : |
Director |
|
Address : |
19, Nehru Nagar, Agra-282002, Uttar Pradesh, India |
|
Date of Birth/Age : |
08.05.1960 |
|
Date of Appointment : |
22.04.2008 |
|
DIN No.: |
02153314 |
|
|
|
|
Name : |
Mr. Vishnu Kumar Bhargava |
|
Designation : |
Director |
|
Address : |
KD-272, Kohat Enclave, Pitampura, New Delhi-110034, India |
|
Date of Birth/Age : |
30.07.1962 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03511388 |
|
|
|
|
Name : |
Mr. Anurag Mangla |
|
Designation : |
Additional Director |
|
Address : |
4/145, Kathmandi, Sonepat – 431001, Haryana, India |
|
Date of Birth/Age : |
02.11.1984 |
|
Date of Appointment : |
16.05.2013 |
|
DIN No.: |
01874437 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Gupta |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Pradeep Garg |
|
4472550 |
|
Madhu Garg |
|
2799500 |
|
Udit Garg |
|
536500 |
|
Vidit Garg |
|
100000 |
|
Sushma Goel |
|
24750 |
|
S.K. Aggarwal |
|
5000 |
|
Shyam Gupta |
|
1000 |
|
Naveen Kaushik |
|
1000 |
|
Hemant Jindal |
|
100 |
|
Priyanka |
|
100 |
|
Ajit |
|
100 |
|
Umesh Sharma |
|
100 |
|
Ajay Kansal |
|
200 |
|
Ridhima |
|
200 |
|
Manoj |
|
200 |
|
Apurva Goel |
|
200 |
|
Total |
|
7941500 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
%20-%20267037%2023-May-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Rice, Edible Oil and Chemicals. |
|
|
|
|
Products : |
· Rice · Vanaspati Oil · Mustard Oil · Phenol · Hair Gel · Refined Oil · Sun Shield · Face Wash · Bleech · Moisturiser · Pulses ·
Soya Meal |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Rice |
In Qtls. |
60 per Hour |
123,580.67 |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Punjab National Bank, AM-60, Shalimar Bagh, New
Delhi – 110088, India ·
Canara Bank, Overseas Branch, B-39, 1st
Floor, Connaught Place, New Delhi - 110001, India · Indian Overseas Bank, Defence Colony Branch, Moolchand Shopping Complex, Defence Colony,, New Delhi - 110024, India ·
Corporation Bank, M- 3 and 4, Greater
Kailash-II, New Delhi - 110048, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Lall and Company Chartered Accountants |
|
Address : |
15, Arya School Shopping Complex, Opposite Civil Hospital, G.T. Road,
Panipat – 132103, Haryana, India |
|
Tel. No.: |
91-180-2630840/2630723 |
|
PAN No.: |
AADFS2747P |
|
|
|
|
Relatives of Key
management personnel |
· JB Overseas ·
Vanshika Buildtech Limited |
|
|
|
|
Others : |
· Kundan Care Products Limited ·
Durga Rice Mills |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7941500 |
Equity Shares |
Rs.10/- each |
Rs.79.415
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
79.415 |
|
(b) Reserves & Surplus |
|
|
808.125 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
887.540 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
48.543 |
|
(b) Deferred tax liabilities (Net) |
|
|
8.661 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total Non-current Liabilities (3) |
|
|
57.204 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
11066.323 |
|
(b) Trade payables |
|
|
1614.982 |
|
(c) Other current
liabilities |
|
|
83.264 |
|
(d) Short-term provisions |
|
|
0.000 |
|
Total Current Liabilities (4) |
|
|
12764.569 |
|
|
|
|
|
|
TOTAL |
|
|
13709.313 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
145.234 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
24.870 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total Non-Current Assets |
|
|
170.104 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
1516.416 |
|
(c) Trade receivables |
|
|
1262.498 |
|
(d) Cash and cash
equivalents |
|
|
10513.407 |
|
(e) Short-term loans and
advances |
|
|
169.673 |
|
(f) Other current assets |
|
|
77.215 |
|
Total Current Assets |
|
|
13539.209 |
|
|
|
|
|
|
TOTAL |
|
|
13709.313 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
79.415 |
79.415 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
761.556 |
649.941 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
840.971 |
729.356 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
23820.159 |
14216.023 |
|
|
2] Unsecured Loans |
|
580.255 |
500.947 |
|
|
TOTAL BORROWING |
|
24400.414 |
14716.970 |
|
|
DEFERRED TAX LIABILITIES |
|
10.382 |
8.447 |
|
|
|
|
|
|
|
|
TOTAL |
|
25251.767 |
15454.773 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
121.091 |
109.925 |
|
|
Capital work-in-progress |
|
8.380 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.900 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1694.163
|
1040.815
|
|
|
Sundry Debtors |
|
1597.472
|
985.939
|
|
|
Cash & Bank Balances |
|
23278.909
|
13931.019
|
|
|
Other Current Assets |
|
477.750
|
516.375
|
|
|
Loans & Advances |
|
205.811
|
141.537
|
|
Total
Current Assets |
|
27254.105
|
16615.685 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
1943.575
|
1134.390
|
|
|
Other Current Liabilities |
|
149.249
|
109.194
|
|
|
Provisions |
|
38.985
|
28.153
|
|
Total
Current Liabilities |
|
2131.809
|
1271.737
|
|
|
Net Current Assets |
|
25122.296
|
15343.948
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
25251.767 |
15454.773 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
26510.021 |
63436.859 |
18136.471 |
|
|
|
Other Income |
0.165 |
1.475 |
0.073 |
|
|
|
TOTAL (A) |
26510.186 (Due to down fall in industry) |
63438.334 |
18136.544 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2575.162 |
4422.500 |
235.534 |
|
|
|
Purchases of stock-in-trade |
22945.391 |
57087.905 |
17063.117 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(238.632) |
49.430 |
(99.839) |
|
|
|
Employee benefit expense |
34.320 |
33.333 |
26.302 |
|
|
|
Other Expenditure |
157.805 |
175.424 |
147.771 |
|
|
|
TOTAL (B) |
25474.046 |
61768.592 |
17372.885 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1036.140 |
1669.742 |
763.659 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
957.433 |
1509.291 |
616.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
78.707 |
160.451 |
147.284 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.424 |
7.917 |
6.179 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
69.283 |
152.534 |
141.105 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.714 |
40.920 |
29.614 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
46.569 |
111.614 |
111.491 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
964.000 |
19408.000 |
13589.500 |
|
|
TOTAL EARNINGS |
964.000 |
19408.000 |
13589.500 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
59011.600 |
16548.500 |
|
|
TOTAL IMPORTS |
NA |
59011.600 |
16548.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.86 |
14.05 |
14.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.18
|
0.18 |
0.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.26
|
0.24 |
0.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.51
|
0.56 |
0.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.18 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
12.52
|
29.01 |
20.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
1.03 |
1.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
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 |
18136.471 |
63436.859 |
26510.021 |
|
|
|
249.775 |
-58.210 |
%20-%20267037%2023-May-2014_files/image004.gif)
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 |
18136.471 |
63436.859 |
26510.021 |
|
Profit |
111.491 |
111.614 |
46.569 |
|
|
0.61% |
0.18% |
0.18% |
%20-%20267037%2023-May-2014_files/image006.gif)
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 |
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% |
Yes |
|
14] |
Estimation for coming financial year |
Yes |
|
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) |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
LITIGATIONS DETAILS
IN THE HIGH COURT OF
DELHI AT NEW DELHI
CO.PET. 214/2014
STATE BANK OF INDIA..... Petitioner
Through: Mr. Sanjiv Kakra and Mr. Atul Kumar, Advocates.
Versus
M/S KUNDAN RICE MILLS LIMITED..... Respondent
Through
CORAM:
HON'BLE MR. JUSTICE VIBHU BAKHRU
ORDER
21.04.2014
The learned counsel for the petitioner has drawn my attention to the balance sheet of Uday Edible Products Limited as on 31.03.2011. The said balance sheet indicates that a sum of Rs.24,36,96,951/- is due and outstanding towards the petitioner. The petitioner states that the respondent company had furnished a guarantee for the amounts due and payable by Uday Edible Products Limited to the petitioner. It is also stated that the petitioner has filed an Original Application against Uday Edible Products Limited as well as the respondent company which is pending before Debt Recovery Tribunal. The statutory notice issued under Section 434(1) (a) of the Act is stated to have elicited no response.
Issue notice to the respondent by all modes, returnable on 25.07.2014. Dasti as well.
The learned counsel for the petitioner shall file an affidavit of service enclosing therewith the tracking report of the courier agency as well as the postal authority within one week from date.
The respondent shall file a reply within four weeks of the receipt of notice alongwith a list of movable and immovable assets as well as copies of balance sheets for the previous two years. Rejoinder, if any, be filed within two weeks, thereafter.
CA No.762/2014
Issue notice for the date fixed. The respondent is restrained from selling, transferring, encumbering or in any manner alienating its immovable assets till the next date of hearing. The respondent is also restrained from selling its movable assets except in the normal course of the business.
CA No.761/2014
This is an application for appointment of a Provisional Liquidator. The learned counsel for the petitioner does not press this application at this stage.
Dismissed as not pressed.
VIBHU BAKHRU, J
APRIL 21, 2014
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10469429 |
09/11/2013 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
SHALIMAR BAGH BRANCH, AM-60, SHALIMAR BAGH, NEW DELHI, DELHI - 110088, INDIA |
B93236438 |
|
2 |
10456003 |
05/09/2013 |
60,000,000.00 |
CANARA BANK |
OVERSEAS BRANCH, B-39, 1ST FLOOR, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B87937322 |
|
3 |
10417049 |
11/02/2013 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
AM 60, SHALIMAR BAGH, NEW DELHI, DELHI - 110088, INDIA |
B72362437 |
|
4 |
10364920 |
22/06/2012 |
32,000,000.00 |
CANARA BANK |
B-39, OVERSEAS BRANCH, 1ST FLOOR, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B43376797 |
|
5 |
10053517 |
16/05/2007 |
75,000,000.00 |
PUNJAB NATIONAL BANK |
SHALIMAR BAGH, NEW DELHI, NEW DELHI, DELHI - 110052, INDIA |
A16160004 |
|
6 |
10047781 |
29/03/2010 * |
100,000,000.00 |
PUNJAB NATIONAL BANK |
SHALIMAR BAGH, NEW DELHI, DELHI - 110088, INDIA |
A85689255 |
|
7 |
10028124 |
30/08/2012 * |
850,000,000.00 |
PUNJAB NATIONAL BANK |
AM 60, SHALIMAR BAGH, NEW DELHI, DELHI - 110088,INDIA |
B58058835 |
|
8 |
80001396 |
31/08/2012 * |
3,443,000,000.00 |
INDIAN OVERSEAS BANK |
DEFENCE COLONY BRANCH, MOOLCHAND SHOPPING COMPLEX, DEFENCE COLONY, NEW DELHI, DELHI - 110024, INDIA |
B58440314 |
|
9 |
80051864 |
04/12/2012 * |
350,000,000.00 |
CANARA BANK |
OVERSEAS BRANCH, B-39,, 1ST FLOOR, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B64466311 |
|
10 |
90061132 |
19/02/2011 * |
500,000,000.00 |
CANARA BANK |
OVERSEAS BRANCH, B-39,, 1ST FLOOR, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
|
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
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.58.57 |
|
|
1 |
Rs.98.87 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
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.