MIRA INFORM REPORT

 

 

Report No. :

338037

Report Date :

24.08.2015

 

IDENTIFICATION DETAILS

 

Name :

KMC GLASS PRIVATE LIMITED (W.E.F. 15.06.2010)

 

 

Formerly Known As :

SUPRABHAT DISTRIBUTORS PRIVATE LIMITED

 

 

Registered Office :

20B, British India Street, 5th Floor, Room No – 22B, Kolkata – 700069,  West Bengal

Tel. No.:

91-80-26706536 / 26705906 / 41575292

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.01.2008

 

 

Com. Reg. No.:

21-121875

 

 

Capital Investment / Paid-up Capital :

Rs.2.624 Million

 

 

CIN No.:

[Company Identification No.]

U51109WB2008PTC121875

 

 

IEC No.:

Not Available

 

 

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 of Toughened and tempered glass.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

KMC Glass Private Limited is a private company incorporated on 18 January, 2008. It is an established company having a satisfactory track record.

 

It is classified as Indian Non-Government company and is registered at Registrar of Companies, Kolkata. Its authorized share capital is Rs.2.800 Million and its paid up capital is Rs.2.624 Million.

 

Directors of KMC Glass Private Limited are Ajay Kumar Agarwal and Sangeeta Agarwal.

 

Sales turnover of the company has increased from Rs.15.698 Million to Rs.135.536 Million and company has achieved profit of Rs.18.507 Million as compared to previous year loss i.e. Rs. (8.610) Million.

 

Overall general financial position of the company seems to be decent.

 

Trade relations are reported as fair. Business is active. Payment terms are usually correct.

 

The company can be considered for 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

 

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 31-03-2013.

 

 

INFORMATION DENIED

 

Management non-co-operative (91-80-26706536)

 

LOCATIONS

 

Registered Office :

20B, British India Street, 5th Floor, Room No – 22B, Kolkata – 700069,  West Bengal, India

Tel. No.:

91-80-26706536 / 26705906 / 41575292

Fax No.:

Not Available

E-Mail :

suprabhatdistributors@rediffmail.com

info@kmcblr.net

marketing@kmcblr.net

Website :

www.kmcblr.net

 

 

Factory :

No. 28/3, Vishweshwarapura Village Kasaba Hobli, Nelamangala Taluk Rural District Bangalore, Karnataka, India

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Ajay Kumar Agarwal

Designation :

Managing Director

Address :

D. No. 776, Haripushp- Building, 15th Main, 1st Phase, 100 Feet Ring Road, J. P. Nagar, Bangalore - 560078, Karnataka, India

Date of Birth/Age :

11.06.1969

Date of Appointment :

03.02.2011

DIN No.:

00842006

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

U27203TN2004PTC054461

K M C ALUMINIUM PRIVATE LIMITED

Director

14/10/2004

14/10/2004

05/08/2009

Active

NO

2

U27203TG1995PLC020663

AGARVANSHI ALUMINIUM LIMITED

Director

26/09/2005

26/09/2005

27/06/2009

Active

NO

3

U27104KA2003PLC031567

Jindal Naturecare Limited

Director

23/03/2007

23/03/2007

30/11/2007

Active

NO

4

U27203KA1988PTC009215

HARIPUSHP ENTERPRISES PRIVATE LIMITED

Director

01/04/2007

01/04/2007

-

Active

NO

5

U51109WB2005PTC103744

MEENAR VYAPAAR PRIVATE LIMITED

Director

13/03/2009

13/03/2009

10/07/2010

Active

NO

6

U51109WB2008PTC121875

KMC GLASS PRIVATE LIMITED

Managing director

03/02/2011

29/04/2010

-

Active

NO

7

U51109WB2005PTC103756

COMBINE VANIJYA PRIVATE LIMITED

Director

10/07/2010

10/07/2010

-

Active

NO

 

 

Name :

Sangeeta Agarwal

Designation :

Director

Address :

776-Building Haripushp 15th Main, 1st Phase 100 Feet Ring Road J. P. Nagar, Bangalore - 560078, Karnataka, India

Date of Birth/Age :

06.09.1970

Date of Appointment :

29.04.2010

DIN No.:

01990178

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

U51109WB2008PTC121875

KMC GLASS PRIVATE LIMITED

Director

29/04/2010

29/04/2010

-

Active

NO

2

U51109WB2005PTC103756

COMBINE VANIJYA PRIVATE LIMITED

Director

17/05/2011

17/05/2011

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Madhu Arora

Designation :

Company Secretary

Address :

S-818, South Block, 8th Floor, Manipal Centre, Dickenson Road, Bangalore – 560042, Karnataka, India

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Combine Vanijya Private Limited, India

 

129993

Haripushp Enterprises Private Limited, India

 

107400

Karnataka Metal Company Partner Represented by Ajay Kumar

 

25007

Total

 

262400

 

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Toughened and tempered glass.

 

 

Products :
  • Flat Clear Glass
  • Flat Tinted Glass
  • Flat Reflective Glass
  • Flat Coated Glass
  • Low-E Glass

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Banker Name

The Karur Vysya Bank Limited

Branch Address

J. C. Road Branch, J. C. Road, Bangalore – 560002, Karnataka, 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 :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loans from banks

20.234

23.361

Less: Considered under short term borrowings

2.259

3.325

SHORT TERM BORROWING

 

 

Loans repayable on demand from banks

2.259

20.038

Total

20.234

40.074

 

Auditors :

 

Name :

Asim Haider Ali

Chartered Accountant

Address :

No-109, 2nd Floor, Milia Building, Narasimharaja Road, Bangalore – 560002, Karnataka, India

PAN No.:

AABPH8848Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

280000

Equity Shares

Rs.10/- each

Rs.2.800 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

262400

Equity Shares

Rs.10/- each

Rs.2.624 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

2.624

2.624

2.624

(b) Reserves & Surplus

133.618

115.111

123.721

(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)

136.242

117.735

126.345

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

17.975

20.036

9.851

(b) Deferred tax liabilities (Net)

1.382

0.743

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)

19.357

20.779

9.851

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2.259

20.038

0.000

(b) Trade payables

9.637

8.818

0.084

(c) Other current liabilities

4.035

1.479

0.456

(d) Short-term provisions

4.804

0.000

0.009

Total Current Liabilities (4)

20.735

30.335

0.549

 

 

 

 

TOTAL

176.334

168.849

136.745

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

80.272

83.075

10.477

(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

3.215

46.715

73.915

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

19.240

22.403

13.650

(e) Other Non-current assets

0.000

1.497

0.000

Total Non-Current Assets

102.727

153.690

98.042

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

9.387

5.324

0.000

(c) Trade receivables

24.919

4.074

0.376

(d) Cash and cash equivalents

9.482

2.385

18.072

(e) Short-term loans and advances

29.819

3.376

18.557

(f) Other current assets

0.000

0.000

1.698

Total Current Assets

73.607

15.159

38.703

 

 

 

 

TOTAL

176.334

168.849

136.745

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

 

 

Other Income

 

 

 

 

TOTAL

135.536

15.698

0.159

 

 

 

 

 

Less

EXPENSES

111.527

23.566

0.129

 

 

 

 

 

Less

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

24.009

(7.868)

0.030

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

24.009

(7.868)

0.030

 

 

 

 

 

Less

TAX

5.502

0.742

0.008

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

18.507

(8.610)

0.022

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

70.52

(32.81)

0.08

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operation

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

13.87

(6.44)

0.05

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.18

(0.07)

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.15

0.34

0.08

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.55

0.50

70.50

 

 

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

2.624

2.624

2.624

Reserves & Surplus

123.721

115.111

133.618

Net worth

126.345

117.735

136.242

 

 

 

 

long-term borrowings

9.851

20.036

17.975

Short term borrowings

0.000

20.038

2.259

Total borrowings

9.851

40.074

20.234

Debt/Equity ratio

0.078

0.340

0.149

 

 

 

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)

Total Income

0.159

15.698

135.536

 

 

9,772.956

763.397

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

0.159

15.698

135.536

Profit

0.022

(8.610)

18.507

 

13.84%

(54.85%)

13.65%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

----------------------

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

----------------------

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

----------------------

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

----------------------

33

Market information

----------------------

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

Note:

Registered address has been shifted from the 8B, Brojo Dulal Street, 3rd Floor, Kolkata – 700006, West Bengal, India to the present address w.e.f. 04.02.2012

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10539845

09/12/2014

108,000,000.00

DBS BANK LIMITED

SALARPURIA WINDSOR, NO.3 (OLD NO.10), ULSOOR ROAD, WARD NO.78, BANGALORE - 560042, KARNATAKA, INDIA

C38765814

2

10404429

24/12/2012

711,000.00

THE KARUR VYSYA BANK LIMITED

J C ROAD BRANCH, J C ROAD, BANGALORE - 
560002, KARNATAKA, INDIA

B68620947

3

10401745

31/12/2011

40,000,000.00

THE KARUR VYSYA BANK LIMITED

J C ROAD BRANCH, J C ROAD, BANGALORE - 
560002, KARNATAKA, INDIA

B34411157

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land
  • Machinery
  • Office Equipment
  • Factory Building
  • Computers
  • UPS
  • Vehicle

 

 

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 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.65.82

UK Pound

1

Rs.103.38

Euro

1

Rs.74.26

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY 

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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

 

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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.