MIRA INFORM REPORT

 

 

Report No. :

352122

Report Date :

01.12.2015

 

IDENTIFICATION DETAILS

 

Name :

KAYN IMPORTS

 

 

Registered Office :

141, Tavawala Building, Lohar Chawl, Mumbai – 400002, Maharashtra

Tel. No.:

91-22- 22001004

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation:

20.07.2009

 

 

Capital Investment / Paid-up Capital :

Rs.(1.080) Million

 

 

TIN No./VAT No.:

27820720401V

 

 

CST No.:

27820720401C

 

 

 

 

IEC No.:

0309028574

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABPK7424M

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Importer and Distributor of high quality Tools, Precision Tools, Hand Tools etc. (Confirmed by management)

 

 

No. of Employees :

7 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Established in 2009, Kayn Imports is a proprietorship concern and it is engaged into importing and distribution of high quality tools, precision tools, hand tools etc.

 

The rating is constrained on concern sharp decline in its sales turnover and profitability margins during FY-15. The rating is further constrained on concern’s moderate financial profile marked by low cash and bank balance during the year under review.

 

The rating however, takes consideration by the experience of the proprietor in tools business and decent track record of its operational activities.

 

Trade relations are fair. Business is active. Payments terms are slow but correct.

 

The concern can be considered for business dealings with some cautions.

 

Note:

As confirmed by the management, 50% of the business has been transferred to its sister concern i.e. Inxs Concrete Solution Private Limited.

 

NOTES :

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

 

 

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 31-03-2015.

 

INFORMATION PARTED BY

 

Name :

Mr. Nazir Khambati

Designation :

Proprietor

Contact No.:

91-9833557678

Date :

28.11.2015

 

 

LOCATIONS

 

Registered Office/Warehouse :

141, Tavawala Building, Lohar Chawl, Mumbai – 400002, Maharashtra, India

Tel. No.:

91-22- 22001004

Mobile No.:

91-9833557678 (Mr. Nazir Khambati)

Fax No.:

91-22-22089044

E-Mail :

info@kayn-imports.com

Website :

www.kayn-imports.com

Location :

Owned

Locality:

Commercial

 

 

SOLE PROPRIETOR

 

Name :

Mr. Nazir Shumsuddin Khambati

Designation :

Proprietor

Address :

64-A, Taheri Manzil, Nesbir Road, Mazgoan, Mumbai – 400010, Maharashtra, India 

Date of Birth/Age :

45 Years

Qualification :

Graduate

Experience :

20 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Importer and Distributor of high quality Tools, Precision Tools, Hand Tools etc. (Confirmed by management)

 

 

Products :
  • Precision Tools
  • Hand Tools

 

 

Brand Names :

Not Available

 

 

Agencies Held :

WIHA / PROJAHM precision Tools GmbH

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Germany

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :
  • Ashwini Printers
  • Fatehi and Associates
  • G.K. Khambati
  • Interport Impex Private Limited

Reference :

Wiha (Germany)

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 :

End Users

  • Ace Trading
  • Allys Hardware and Tools Private Limited
  • Bharatji Associates
  • Kushal Electric
  • S.R. Services

Reference :

Kena Enterprises

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 :

7 (Approximately)

 

 

Bankers :

Bank Name

Bank of India

Branch

Kalbadevi Branch, Round Building, Princes Street, Mumbai, Maharashtra, India  

Person Name (With Designation)

Not Available

Contact Number

91-22-22085001 (Ringing) (Due to Bank Holiday)

Name of Account Holder

Not Available

Account Number

002420010000512

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

Bank Name

Kotak Mahindra Bank Limited

Branch

13/14, Ashoka Shopping Center, G.T. Hospital Complex, L.T. Marg, Crawford Market, Mumbai, Maharashtra, India

Person Name (With Designation)

Not Available

Contact Number

91-22-2262319 (Continuously Ringing)

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

Bank Name

HDFC Bank Limited

Branch

22-25, Ashoka Center, L.T. Road, Craford Market, Mumbai, Maharashtra, India

Person Name (With Designation)

Not Available

Contact Number

91-22-22675596 (Ringing)

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Over Draft Rs. 0.900 Million

Account Operation

Not Available

Remarks (If any)

Not Available

 

 

Facilities :

(Rs. In Million)

UNSECURED LOAN

As on

31.03.2015

As on

31.03.2014

HDFC Bank Limited

0.626

1.115

Kotak Mahindra Bank Limited

0.129

0.206

HDFC Bank/OD

0.564

0.749

HDFC – GL Loan A/c no:31908369

0.405

0.000

HDFC – GL Loan A/c no:31909883

0.339

0.000

HDFC – GL Loan A/c no:31938854

0.233

0.000

HDFC – GL Loan A/c no:31939745

0.198

0.000

Kotak Mahindra Bank Limited

0.199

0.000

Total

2.693

2.070

 

 

Auditors :

 

Name :

Fatehi and Associates

Chartered Accountants

Address :

95, Ground Floor, Ashoka Shopping Center, L.T. Marg, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-22707953/51/52

 

 

Memberships :

48432

 

 

Collaborators :

Not Available

 

 

Sister Concern (As confirmed by the management)
  • Inxs Concrete Solution Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

Capital Investment :

 

Owned :

Rs.(1.080) Million

Borrowed :

--

Total :

Rs.(1.080) Million

 

 

Capital Investment :

31.03.2015

(Rs. In Million)

Proprietor Capital Ac

(1.080)

Nazir Shumsuddin Khambati

--

Total

(1.080)

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Proprietor’s Capital

(1.080)

0.375

1.208

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

(1.080)

0.375

1.208

LOAN FUNDS

 

 

 

1] Secured Loans

2.693

2.070

1.500

2] Unsecured Loans

2.943

3.435

3.931

TOTAL BORROWING

5.636

5.505

5.431

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

4.556

5.880

6.639

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.587

0.468

0.567

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
5.801
5.362
7.215

 

Sundry Debtors
1.202
2.678
3.507

 

Cash & Bank Balances
0.048
0.290
1.714

 

Other Current Assets
0.000
0.000
0.000

 

Loans & Advances
0.004
0.030
0.110

Total Current Assets
7.055
8.360
12.546

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors
2.674
2.479
5.785

 

Other Current Liabilities
0.000
0.051
0.025

 

Provisions
0.412
0.418
0.664

Total Current Liabilities
3.086
2.948
6.474

Net Current Assets
3.969
5.412
6.072

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

4.556

5.880

6.639

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

8.080

16.995

22.223

 

Other Income

0.000

0.000

0.001

 

TOTAL

8.080

16.995

22.224

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Goods Sold

6.792

14.412

18.790

 

Administrative Expenses

1.099

2.100

2.617

 

TOTAL

7.891

16.512

21.407

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

0.189

0.483

0.817

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

0.120

0.110

0.125

 

 

 

 

 

 

NET PROFIT/ (LOSS) 

0.069

0.373

0.692

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

0.85

2.19

3.11

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.90

4.22

5.28

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.06)

0.99

0.57

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

(5.22)

14.68

4.50

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.17

2.17

1.21

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1.208

0.375

(1.080)

Reserves & Surplus

0.000

0.000

0.000

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

1.208

0.375

(1.080)

 

 

 

 

Unsecured

1.500

2.070

2.693

Secured

3.931

3.435

2.943

Total borrowings

5.431

5.505

5.636

Debt/Equity ratio

4.496

14.680

(5.219)

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

22.223

16.995

8.080

 

 

(23.525)

(52.457)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

22.223

16.995

8.080

Profit

0.690

0.373

0.069

 

3.10%

2.19%

0.85%

 

 

 

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

Yes

8

Designation of contact person

Yes

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

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%

Yes

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

No

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

Particulars

As on

31.03.2014

As on

31.03.2013

UNSECURED LOAN

As on

31.03.2015

As on

31.03.2014

Anisha Khambati

0.068

0.851

Mumtaz K Miyajiwala

1.300

0.900

Sakina Khambati

1.100

1.684

Kayed Johar Shekhadam Miyajiwala

0.475

0.000

Total

2.943

3.435

 

FIXED ASSETS

 

  • Computer
  • Mobile
  • Motor Bike
  • Furniture and Fixture
  • Air Conditioner

 

 

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.66.75

UK Pound

1

Rs.100.67

Euro

1

Rs.70.87

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

KSH

 

 

Report Prepared by :

RKI

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

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

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

 

27

 

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.