MIRA INFORM REPORT

 

 

Report Date :

14.11.2014

 

IDENTIFICATION DETAILS

 

Name :

KNOWLEDGE INTEGRATION SERVICES INDIA PRIVATE LIMITED

 

 

Registered Office :

Knowledge House, 516, 3rd Floor, 12th Main, M S Ramaiah Enclave, 8th Mile, Hesarghatta Road, Bangalore – 560073, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

28.09.2006

 

 

Com. Reg. No.:

08-040648

 

 

Capital Investment / Paid-up Capital :

Rs.5.000 Millions

 

 

CIN No.:

[Company Identification No.]

U74140KA2006PTC040648

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available 

 

 

PAN No.:

[Permanent Account No.]

Not Available 

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Activity engaged into providing turnkey solution for green technology project.

 

 

No. of Employees :

45 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 31000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

The company possesses an acceptable financial profile marked by adequate networth base and favourable capital structure backed by zero gearing along with moderately large liabilities to be honoured lying in the books.

 

Management has reported a moderate revenue base as well as minimal net profitability from its modest scale of operations during FY13. 

 

However, trade relations are fair. Business is active. Payment terms are reported as usually correct.

 

In view of experienced promoters, the company can be considered for business dealings with some caution.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

INDIAN ECONOMIC OVERVIEW

 

N E W S

 

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

 

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

 

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

 

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

 

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

 

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

 

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

 

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available 

Rating

Not Available 

Rating Explanation

Not Available 

Date

Not Available 

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Mallikarjun

Designation :

Finance Manager

Contact No.:

91-80-28395431

Date :

13.11.2014

 

 

LOCATIONS

 

Registered Office :

Knowledge House, 516, 3rd Floor, 12th Main, M S Ramaiah Enclave, 8th Mile, Hesarghatta Road, Bangalore – 560073, Karnataka, India

Tel. No.:

91-80-28395431

Fax No.:

91-80-23726334

E-Mail :

raghu@kisgroup.net

raghu@knowledge-integration.org

Website :

www.kisgroup.net

Location :

Owned

 

 

DIRECTORS

 

As on 30.09.2013

 

Name :

Mr. Ranganatha Jayanna Kandikere

Designation :

Director

Address :

No. 37/6, 9th Cross, Parimala Nagar, Nandini Layout, Bangalore – 560096, Karnataka, India

Date of Appointment :

28.09.2006

DIN No.:

00846894

 

 

Name :

Mr. Yogesh Ramaiah Kandikere

Designation :

Director

Address :

No. 516, 12th Main, M S Ramiah Enclave, 8th Mile, Hesarghatta Cross, Tumkur Road, Bangalore – 560073, Karnataka, India

Date of Appointment :

28.09.2006

DIN No.:

00851340

 

 

Name :

Mr. Subodh Mishra

Designation :

Director

Address :

13, Abhishek Duplex, Arpan Complex, Nizampur, Baroda, Gujarat, India

Date of Appointment :

01.02.2008

DIN No.:

01308981

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

Date of cessation

Company/ LLP Status

Defaulting status

1

U01200WB2007PTC120912

AMRIT BREEDER FARMS PRIVATE LIMITED

Director

19/01/2008

19/01/2008

-

Active

NO

2

U74140KA2006PTC040648

KNOWLEDGE INTEGRATION SERVICES INDIA PRIVATE LIMITED

Director

01/02/2008

01/02/2008

-

Active

NO

 

 

Name :

Mr. Raghunath Ramaiah Kandikeri

Designation :

Director

Address :

No. 516, 12th Main, M S Ramiah Enclave, 8th Mile, Hesarghatta Cross, Tumkur Road, Bangalore – 560073, Karnataka, India

Date of Appointment :

16.10.2006

DIN No.:

01462838

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

Date of cessation

Company/ LLP Status

Defaulting status

1

U74140KA2006PTC040648

KNOWLEDGE INTEGRATION SERVICES INDIA PRIVATE LIMITED

Director

16/10/2006

16/10/2006

-

Active

NO

2

U74140KA2014PTC073861

KIS TECHNOLOGIES (INDIA) PRIVATE LIMITED

Director

28/02/2014

28/02/2014

-

Active

NO

 

 

Name :

Mr. Ramaiah

Designation :

Director

Address :

No. 516, 12th Main, M S Ramiah Enclave, 8th Mile, Hesarghatta Cross, Tumkur Road, Bangalore – 560073, Karnataka, India

Date of Appointment :

31.01.2008

DIN No.:

02020559

 

 

KEY EXECUTIVES

 

Name :

Mr. Mallikarjun

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2013

 

Names of Shareholders

 

No. of Shares

Ranganatha Jayanna Kandikere

 

15000

Yogesh Ramaiah Kandikere

 

15000

Ramaiah

 

10000

Raghunath Ramaiah Kandikeri

 

156000

Lars Enviro Private Limited, India

 

1000

Jyothi Hadli

 

300000

Ramesh Amichand Daryapukar

 

1000

Subodh Mishra

 

1000

Neera Subodh Mishra

 

1000

Total

 

500000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2013

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Activity engaged into providing turnkey solution for green technology project.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

L/C and Cheque

 

 

Purchasing :

L/C and Cheque

 

 

GENERAL INFORMATION

 

Suppliers :
  • Isotex Corporation
  • Colour Works
  • LFK Engineering and Trading
  • PMI Process systems
  • Printech Solutions
  • Roto Pumps Limited
  • Arrow Power Controls
  • Avanti Communication
  • Moonshine Enterprises
  • Shree Sai Enterprises

 

 

Customers :

Not Divulged

 

 

No. of Employees :

45 (Approximately)

 

 

Bankers :

Bankers Name:

State Bank of Mysore

Address:

SMECCC, 8/6, 2nd Floor,

Rangarao Road, Shankarapuram, Bangalore - 560004,

Karnataka, India

Person Name:

Mr. Gunjan (Branch Manager)

Contact No.;

91-9483569864

Report:

The company having very satisfactory record track in [payment transaction. 

 

 

Facilities :

--

 

 

 

Banking Relations :

 

 

 

Auditors :

 

Name :

NSVM and Associates

Chartered Accountants

Address :

No 63/1, 1st Floor, Above Canara Bank, Railway Parallel Road, Kumara Park West, Bangalore – 560020, Karnataka, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAFFN4198P

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Common Ownership :

Knowledge integration Services (Singapore) Pte 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

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs. 5.000 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

5.000

5.000

2.500

(b) Reserves & Surplus

6.002

2.836

0.283

(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)

11.002

7.836

2.783

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.047

0.013

0.000

(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)

0.047

0.013

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

36.422

3.126

1.534

(c) Other current liabilities

27.289

62.075

7.173

(d) Short-term provisions

1.465

1.300

0.015

Total Current Liabilities (4)

65.176

66.501

8.722

 

 

 

 

TOTAL

76.225

74.350

11.505

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

7.332

3.498

1.591

(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

0.006

(d)  Long-term Loan and Advances

1.521

0.530

0.014

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

8.853

4.028

1.611

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1.768

0.000

5.661

(c) Trade receivables

0.000

0.872

1.345

(d) Cash and cash equivalents

56.758

54.227

1.306

(e) Short-term loans and advances

8.846

15.223

1.571

(f) Other current assets

0.000

0.000

0.011

Total Current Assets

67.372

70.322

9.894

 

 

 

 

TOTAL

76.225

74.350

11.505

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Income

NA 

22.563

15.347

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

 

EXPENSES

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

4.327

0.361

 

 

 

 

 

 

FINANCIAL EXPENSES

 

0.031

0.060

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

NA

4.284

0.285

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

 

0.421

0.370

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

3.863

-0.085

 

 

 

 

 

 

INCOME TAX

 

1.291

0.015

 

 

 

 

 

 

DEFERRED TAX

 

0.019

(0.039)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

3.166

2.553

(0.090)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

6.33

NA

NA

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin PAT/ Sales

(%)

NA

11.31

(0.59)

 

 

 

 

 

PBIDT / Sales

(%)

NA

19.18

2.35

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

NA

5.20

(0.74)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

NA

0.49

(0.03)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.03

1.06

1.13

 

 

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

2.500

5.000

5.000

Reserves & Surplus

0.283

2.836

6.002

Net worth

2.783

7.836

11.002

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last two years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

Yes

18]

Major customers

No

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

No

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

Yes

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

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

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

FIXED ASSETS

 

  • Air Conditioner
  • Camera
  • Computer and Peripherals
  • Furniture and Fixtures
  • Vehicles
  • Mobile
  • Office Renovation
  • Printer
  • Solarize Heater
  • UPS
  • FAN Cycle

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 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.61.56

UK Pound

1

Rs.97.10

Euro

1

Rs.76.61

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

KVT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

6

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

 

44

 

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

 

--

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.