MIRA INFORM REPORT

 

 

Report No. :

316245

Report Date :

07.04.2015

           

IDENTIFICATION DETAILS

 

Name :

K M T S ENGINEERING PRIVATE LIMITED

 

 

Registered Office :

WZ-428, A/1, Club Road, Naraina Village, New Delhi - 110028

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.09.2005

 

 

Com. Reg. No.:

55-141240

 

 

Capital Investment / Paid-up Capital :

Rs.0.700 Million

 

 

CIN No.:

[Company Identification No.]

U29192DL2005PTC141240

 

 

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 :

Manufacturer, Supplier and Exporter of Set-Top Box, Satellite Receiver, Satellite Decoders, Satellite LNB, Filter LNB.

 

 

No. of Employees :

15 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 2200

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track.

 

The company possesses a moderate financial profile marked by modest networth base comprised of low reserves along with highly leveraged capital structure and modest debt protection metrics.

 

Management has witnessed an improvement in its modest revenue base as well as net profitability which has turned positive this year leading to wiping of its accumulated losses during FY14.

 

The ratings also take into consideration the government’s focus on manufacturing sector and a lead to boost exports which may positively support the business.

 

However, trade relations are seem to be fair. Business is active. Payment terms are reported as slow.

 

In view of below average liquidity profile, the company can be considered for business dealings with great 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 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

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

 

Name :

Mr. Deepak Gupta

Designation :

Director

Contact No.:

91-9811362911

Date :

06.04.2015

 

 

LOCATIONS

 

Registered Office / Factory:

WZ-428, A/1, Club Road, Naraina Village, New Delhi – 110028, India

Tel. No.:

91-11-25776028

Mobile No.:

91-9811362911 (Mr. Deepak Gupta)

Fax No.:

Not Available

E-Mail :

sales@kmtse.com

casacharpankaj@gmail.com

pankajsachar@yahoo.com

deepakg09@yahoo.com

Website :

http://www.kmtse.com

Location :

Rented

 

 

Godown :

Mundka, New Delhi, India

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Deepak Hari Ram Gupta

Designation :

Director

Address :

E-41, First Floor, Naraina Vihar, New Delhi, 110028, India

Date of Birth/Age :

09.09.1969

Date of Appointment :

25.02.2009

DIN No.:

01988894

 

 

Name :

Hari Ram Munshi Lal Gupta

Designation :

Director

Address :

E-41, First Floor, Naraina Vihar, New Delhi, 110028, India

Date of Birth/Age :

28.10.1940

Date of Appointment :

25.02.2009

DIN No.:

02445386

 

 

Name :

Sushila Gupta

Designation :

Additional director

Address :

E-41, First Floor, Naraina Vihar, New Delhi, 110028, India

Date of Appointment :

27.03.2015

DIN No.:

03537082

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

 

No. of Shares

Hari Ram Gupta

 

6000

Deepak Gupta

 

999

K M Tooling Solutions, India

 

1

 

 

 

Total

 

7000

 

As on 29/01/2015

 

Names of Allottees

 

 

No. of Shares

Hari Ram Gupta

 

21000

Deepak Gupta

 

3500

Total

 

24500

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

99.99

Other top fifty shareholders

0.01

Total

100.00

 

 

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Supplier and Exporter of Set-Top Box, Satellite Receiver, Satellite Decoders, Satellite LNB, Filter LNB.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :

Dubai

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Chenzhou Xipoint Technology Company Limited,

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturers

 

Reference :

Purohit  Electronics

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

15 (Approximately)

 

 

Bankers :

Bank Name

Axis Bank Limited

Branch

4/10, OPG House,

Asaf Ali Road, New Delhi - 110002, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Bank Name

Axis Bank Limited

Branch

Naraina Vihar, New Delhi, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Short-term borrowings

 

 

Loans Repayable on Demand from Bank

3.657

7.701

 

 

 

Total

3.657

7.701

Note :

The company has taken overdraft limit from "AXIS BANK" against hypothecation of stock as well as trade receivable. Directors of the company has also given guarantee for the same and property has also been mortgaged to the bank. The company has not made any default in respect of repayment of the loan as well as interest payment.

 

Auditors :

 

Name :

Pankaj Sachar  and Associates

Chartered Accountants

Address :

E-223, Naraina Vihar, New Delhi, 110028, India

Tel. No.:

91-011-45012925

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

AAOPS0346P

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises over which KMP is able to execute significant influence:

H R Electronics

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,000

Equity Shares

Rs.100/- each

Rs.5.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

31,500

Equity Shares

Rs.100/- each

Rs.3.150 Million

 

As on 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,000

Equity Shares

Rs.100/- each

Rs.5.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7,000

Equity Shares

Rs.100/- each

Rs.0.700 Million

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.700

0.700

0.700

(b) Reserves & Surplus

0.065

(0.585)

0.384

(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)

0.765

0.115

1.084

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

14.059

11.997

11.415

(b) Deferred tax liabilities (Net)

0.000

0.000

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)

14.059

11.997

11.415

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3.657

7.701

11.719

(b) Trade payables

9.403

6.797

4.770

(c) Other current liabilities

1.890

0.605

4.138

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

14.950

15.103

20.627

 

 

 

 

TOTAL

29.774

27.215

33.126

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.284

0.303

0.000

(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)

0.006

0.000

0.000

(d)  Long-term Loan and Advances

0.080

0.081

0.040

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

0.370

0.384

0.040

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

18.728

14.764

13.240

(c) Trade receivables

2.894

0.350

1.891

(d) Cash and cash equivalents

6.899

11.357

17.396

(e) Short-term loans and advances

0.173

0.039

0.050

(f) Other current assets

0.710

0.321

0.509

Total Current Assets

29.404

26.831

33.086

 

 

 

 

TOTAL

29.774

27.215

33.126

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

48.928

20.949

46.321

 

Other Income

 

 

 

 

TOTAL

48.928

20.949

46.321

 

 

 

 

 

 

EXPENSES

 

 

 

 

TOTAL

47.891

20.701

45.040

 

 

 

 

 

 

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

1.037

0.248

1.281

 

 

 

 

 

 

FINANCIAL EXPENSES

0.290

1.121

0.881

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

0.747

(0.873)

0.400

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

0.103

0.049

0.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, EXTRAORDINARY AND EXCEPTIONAL ITEMS

0.644

(0.922)

0.400

 

 

 

 

 

 

EXTRAORDINARY AND EXCEPTIONAL ITEMS

0.000

0.048

0.007

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

0.644

(0.970)

0.393

 

 

 

 

 

 

TAX

(0.006)

0.000

0.124

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

0.650

(0.970)

0.270

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

0.000

0.000

0.000

 

 

 

 

 

 

IMPORTS

12.260

10.578

26.557

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

92.89

(138.57)

38.51

 

 

 

Expected Sales ( 2014-2015 ) : Rs.90.000 Million to 100.000 Million

 

The above information has been parted by Mr. Deepak Gupta.

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Operating Profit Margin

(PBIDT/Sales)

(%)

2.12

1.18

2.77

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.16

(3.56)

1.19

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.84

(8.43)

0.36

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

23.16

171.29

21.34

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.97

1.78

1.60

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

0.700

0.700

0.700

Reserves & Surplus

0.384

(0.585)

0.065

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

1.084

0.115

0.765

 

 

 

 

long-term borrowings

11.415

11.997

14.059

Short term borrowings

11.719

7.701

3.657

Total borrowings

23.134

19.698

17.716

Debt/Equity ratio

21.341

171.287

23.158

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

46.321

20.949

48.928

 

 

(54.774)

133.558

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

46.321

20.949

48.928

Profit

0.270

(0.970)

0.650

 

0.58%

(4.63%)

1.33%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

Yes

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

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans from related parties

14.059

11.756

Loans from others

0.000

0.241

Total

14.059

11.997

 

Note:

Company has taken interest free unsecured loan from related parties as well as from others. No guarantee has been given by the directors as well as others. It has been specifically stated that loan shall be payable after 12 months from the date of notice. The company has not made any default in respect of repayment of loan.

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10343833

09/01/2015 *

10,000,000.00

AXIS BANK LTD.

2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, 
NEW DELHI, DELHI - 110001, INDIA

C41152968

 

* Date of charge modification

 

NOTE

 

The registered office of the company has been shifted from B-237, Naraina Industrial Area, Phase - I, New Delhi – 110028, India to the present address w.e.f. 15.11.2013.

 

FIXED ASSETS

 

  • Car
  • Computer
  • Mobile Phone

 

 

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.62.16

UK Pound

1

Rs.92.73

Euro

1

Rs.68.23

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

2

--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

 

28

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

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NB

                                       New Business

 

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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.