MIRA INFORM REPORT
|
Report No. : |
354598 |
|
Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
K. K. WELDING LIMITED |
|
|
|
|
Registered
Office : |
128, Naryan Dhuru Street, Micro House, Masjid Bunder, Mumbai – 400003,
Maharashtra |
|
Tel. No.: |
91-22-23401060 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
29.11.2001 |
|
|
|
|
Com. Reg. No.: |
11-134080 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.850 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29380MH2001PLC134080 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK6831F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
The company is engaged in trading of welding electrodes,
welding rods, welding cables, safety equipments, grinding wheels, safety
equipments, grinding wheels and welding accessories. (From Indirect Sources) |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Exist |
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|
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|
Comments : |
Subject is an established company incorporated during the year 2001.
It has satisfactory track. Management has failed to file its financial with the government
department for the year 2015. The rating takes into consideration significant increase sales
turnover along with profit of the company in FY2014. However, the rating
constraints on account of its thin profit margin along with slightly high
debt level in the same consecutive year. Trade relations are reported as fair. Business is active. Payment
terms are slow but correct. The company can be considered for business dealing 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating : BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
13.07.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating : A4+ |
|
Rating Explanation |
Minimal degree of safety and higher credit risk. |
|
Date |
13.07.2015 |
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 DENIED BY
|
Name : |
Ms. Reshma |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-23401060 |
|
Date : |
14.12.2015 |
LOCATIONS
|
Registered Office : |
128, Naryan Dhuru Street, Micro House, Masjid Bunder, Mumbai – 400003,
Maharashtra, India |
|
Tel. No.: |
91-22-23401060 / 23433036 |
|
Fax No.: |
91-22-23440852/23402032/23471881 / 23401060 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Manharlal Shantilal Mehta |
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Designation : |
Director |
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|
Address : |
196, Alwaris Building, 2nd Floor, 13 Khetwadi Back Road, Mumbai - 400004, Maharashtra, India |
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Date of Birth/Age : |
21.03.1945 |
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Date of Appointment : |
29.11.2001 |
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DIN No.: |
00321674 |
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Other Directorship
:
|
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|
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Name : |
Mr. Parag Manharlal Mehta |
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Designation : |
Director |
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|
Address : |
196, Alwaris Building, 2nd Floor, 13 Khetwadi Back Road, Mumbai - 400004, Maharashtra, India |
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|
Date of Birth/Age : |
09.04.1971 |
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Date of Appointment : |
29.11.2001 |
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DIN No.: |
00321824 |
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Other Directorship
:
|
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|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Kirit Shantilal Mehta |
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|
Designation : |
Director |
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|
Address : |
29 Ppragati Bhuvan, Ground Floor, Block No. 1, Sadashiv Cross Lane, V. P. Road, Mumbai - 400004, Maharashtra, India |
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Date of Birth/Age : |
21.12.1953 |
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Date of Appointment : |
29.11.2001 |
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DIN No.: |
00321901 |
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Other Directorship
:
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Manish Manharlal Mehta |
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Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
196, Alwaris Building, 2nd Floor, 13 Khetwadi Back Road, Mumbai - 400004, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.07.1972 |
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|
Date of Appointment : |
29.11.2001 |
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DIN No.: |
00321957 |
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Other Directorship
:
|
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|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Tejas Kirit Mehta |
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|
Designation : |
Director |
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|
Address : |
29 Pragati Bhuvan, Ground Floor, Block No.1, Sadashiv Cross Lane, V P Road, Mumbai - 400004, Maharashtra, India |
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Date of Birth/Age : |
21.08.1977 |
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Date of Appointment : |
29.11.2001 |
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DIN No.: |
00322001 |
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Other Directorship
:
|
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KEY EXECUTIVES
|
Name : |
Ms. Reshma |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
39.39 |
|
Directors or relatives of Directors |
60.61 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
The company is engaged in trading of welding electrodes,
welding rods, welding cables, safety equipments, grinding wheels, safety equipments,
grinding wheels and welding accessories. (From Indirect Sources) |
|
|
|
|
Products : |
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|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot
No. C-38 & 39, |
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Facilities : |
|
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Financial Institution : |
Aditya Birla Finance Limited Indian Rayon Compound, Veraval - 362266, Gujarat, India |
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|
|
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Auditors : |
|
|
Name : |
AMD and Company Chartered Accountants |
|
Address : |
402-A Chandan Chambers, 138 Modi Street, Fort, Mumbai - 400001, Maharashtra, India |
|
PAN No.: |
AARFA0923F |
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
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|
Enterprises which
are owned, or have significant influence of or are
partners with Key management
personnel and their relatives |
Markup Builders and Developers Limited [U45200MH2005PLC151454] |
|
|
|
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Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,485,000 |
Equity Shares |
Rs.10/- each |
Rs.14.850 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 |
14.850 |
14.850 |
14.850 |
|
(b) Reserves &
Surplus |
186.386 |
176.188 |
167.346 |
|
(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) |
201.236 |
191.038 |
182.196 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
182.596 |
340.422 |
78.657 |
|
(b) Deferred tax
liabilities (Net) |
3.188 |
3.275 |
3.324 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.348 |
1.873 |
2.441 |
|
Total Non-current
Liabilities (3) |
188.132 |
345.570 |
84.422 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
287.008 |
232.051 |
296.975 |
|
(b) Trade payables |
246.039 |
108.962 |
115.073 |
|
(c) Other current
liabilities |
113.269 |
59.145 |
9.728 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
646.316 |
400.158 |
421.776 |
|
|
|
|
|
|
TOTAL |
1035.684 |
936.766 |
688.394 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
15.258 |
17.101 |
18.955 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
31.057 |
19.889 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
62.822 |
55.564 |
0.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
109.137 |
92.554 |
19.455 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
452.101 |
422.097 |
396.354 |
|
(c) Trade receivables |
330.382 |
401.470 |
215.771 |
|
(d) Cash and cash
equivalents |
33.745 |
12.193 |
13.865 |
|
(e) Short-term loans and
advances |
108.926 |
7.059 |
41.566 |
|
(f) Other current assets |
1.393 |
1.393 |
1.383 |
|
Total Current Assets |
926.547 |
844.212 |
668.939 |
|
|
|
|
|
|
TOTAL |
1035.684 |
936.766 |
688.394 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1331.149 |
1100.316 |
934.469 |
|
|
Other Income |
1.703 |
1.151 |
2.081 |
|
|
TOTAL |
1332.852 |
1101.467 |
936.550 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1259.792 |
1025.939 |
869.315 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
3.713 |
2.807 |
1.229 |
|
|
Other expenses |
18.783 |
28.259 |
24.472 |
|
|
TOTAL |
1282.288 |
1057.005 |
895.016 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
50.564 |
44.462 |
41.534 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
34.078 |
29.849 |
29.604 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
16.486 |
14.613 |
11.930 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.924 |
1.162 |
1.247 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
15.562 |
13.451 |
10.683 |
|
|
|
|
|
|
|
Less |
TAX |
5.363 |
4.610 |
3.841 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
10.199 |
8.841 |
6.842 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
63.687 |
54.846 |
48.004 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
73.886 |
63.687 |
54.846 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
0.895 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
6.87 |
5.95 |
4.61 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
2.537 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
146.904 |
(119.024) |
(83.373) |
|
Net cash flows from (used in) operating activities |
175.590 |
(93.857) |
(57.569) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.77 |
0.80 |
0.73 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.80 |
4.04 |
4.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.65 |
1.56 |
1.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.07 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.33 |
3.00 |
2.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
2.11 |
1.59 |
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 |
14.850 |
14.850 |
14.850 |
|
Reserves & Surplus |
167.346 |
176.188 |
186.386 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
182.196 |
191.038 |
201.236 |
|
|
|
|
|
|
long-term borrowings |
78.657 |
340.422 |
182.596 |
|
Short term borrowings |
296.975 |
232.051 |
287.008 |
|
Total borrowings |
375.632 |
572.473 |
469.604 |
|
Debt/Equity ratio |
2.062 |
2.997 |
2.334 |
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 |
934.469 |
1100.316 |
1331.149 |
|
|
|
17.748 |
20.979 |
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 |
934.469 |
1100.316 |
1331.149 |
|
Profit |
6.842 |
8.841 |
10.199 |
|
|
0.73% |
0.80% |
0.77% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
LITIGATION DETAILS |
||||||||
|
Bench:- Bombay |
||||||||
|
Presentation date : 28.08.2014 |
||||||||
|
Lodging No:- |
Nmsl/1994/2014 |
Failing Date:- |
28.08.2014 |
Reg. No.:- |
NMS/27/2015 |
Reg. Date:- |
12.01.2015 |
|
|
Main Matter |
||||||||
|
Lodging
No:-SL/695/2014
Reg. No.:- S/973/2014 |
||||||||
|
|
||||||||
|
|
||||||||
|
Petitioner:- |
SHILKRUTI DEVELOPERS PRIVATE LIMITED |
Respondent:- |
K.K. WELDING LIMITED |
|||||
|
Petn.Adv:- |
BHUPENDRA SINGH (I4920) |
Resp.Adv.: |
0 (0) |
|||||
|
District:- |
MUMBAI |
|||||||
|
Bench:- |
SINGLE |
Category: |
NOTICE OF MOTION |
|||||
|
Status:- |
Pre-Admission |
Stage:- |
NOTICE OF MOTION
[ORIGINAL SIDE MATTERS] |
|||||
|
Next Date:- |
15.12.2015 |
|||||||
|
Coram:- |
HON’BLE SHRI JUSTICE S.J. KATHAWALLA |
|||||||
|
|
|
|||||||
|
Last Date:- |
07.11.2014 Stage:- FOR AD-INTERIM RELIEF [ORIGINAL SIDE MATTERS] |
|||||||
|
|
|
|||||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE R.D. DHANUKA |
|||||||
|
|
|
|||||||
|
Act:- |
Code of Civil Procedure 1908 |
|||||||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10567004 |
13/03/2015 |
225,000,000.00 |
UNION BANK OF INDIA |
MAZGAON BRANCH,PREM
SAGAR BUILDING,, NESBIT ROAD, |
C52415916 |
|
2 |
10544672 |
03/04/2014 |
70,000,000.00 |
ADITYA BIRLA FINANCE LIMITED |
INDIAN RAYON
COMPOUND,, VERAVAL, GUJARAT - 362266, |
C40801185 |
|
3 |
10021454 |
16/03/2015 * |
275,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT,
CRESCENZO, 3A/F, PLOT NO. C-38 & 39, |
C54165543 |
|
4 |
90141369 |
06/10/2004 |
3,200,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS, BANDRA
KURLA COMPLEX, MUMBAI, |
- |
|
5 |
90148896 |
06/10/2004 |
2,200,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS,
BANDRA KURLA COMPLEX, MUMBAI, |
- |
|
6 |
90141366 |
05/10/2004 |
3,700,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS,
BANDRA KURLA COMPLEX, MUMBAI, |
- |
|
7 |
90148854 |
01/09/2004 |
4,600,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS,
BANDRA KURLA COMPLEX, MUMBAI, |
- |
|
8 |
80047045 |
01/09/2004 |
3,300,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS ,
BANDRA KURLA COMPLEX,, MUMBAI |
- |
* Date of charge modification
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from directors |
78.312 |
148.191 |
|
Other loans and advances, others |
53.812 |
140.388 |
|
Total |
132.124 |
288.579 |
FIXED ASSETS
- Furniture and fixtures
- Buildings
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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 records 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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.