MIRA INFORM REPORT
|
Report No. : |
305162 |
|
Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAIZEN AUTOMATION |
|
|
|
|
Registered
Office : |
3rd Floor, Balaji Infotech, Plot No. A-278, Road No.-16-A,
MIDC, Thane – 400604, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of Establishment
: |
2002 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.133 Millions |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of all types Industrial Automation products
and also engaged in providing turnkey
automation solutions including system Engineering, software development &
site commissioning activities for ETP, WTP, Solvent Extraction Plants, Raw
Water treatment plants as well as automation for Machines |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 : |
Subject is an established partnership concern having satisfactory
track record. Trade relations are fair. Business is active. Payment terms are
usually correct. The concern can be considered normal for business 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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
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 : |
Mrs. Varsha Jain |
|
Designation : |
Finance and Admin Head |
|
Contact No.: |
91-22-25810801 |
|
Date : |
27.01.2015 |
LOCATIONS
|
Registered / Head Office: |
3rd Floor, Balaji Infotech, Plot No. A-278, Road No.-16-A,
MIDC, Thane – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25800899 / 25810801 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Building 10-A, Shed No. E-4, Survey No.227, Shree Airhant Complex,
Kalher Village, Bhiwandi, Thane – 421302, Maharashtra, India |
|
Tel. No.: |
91-2522-277140 |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mrs. Varsha Jain |
|
Designation : |
Finance and Admin Head |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of all types Industrial Automation products
and also engaged in providing turnkey
automation solutions including system Engineering, software development &
site commissioning activities for ETP, WTP, Solvent Extraction Plants, Raw
Water treatment plants as well as automation for Machines |
|
|
|
|
Products / Services : |
|
|
|
|
|
Brand Names : |
Not Available |
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|
|
|
Agencies Held : |
Not Available |
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Exports : |
|
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Products : |
Finished Goods |
|
Countries : |
Morocco |
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|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Sachdev and Associates Chartered Accountants |
|
|
|
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Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
|
Particulars |
31.03.2014 Rs. In Millions |
|
Capital Account |
|
|
Opening Balance |
9.820 |
|
Add |
|
|
Bank Interest |
0.005 |
|
Dividend |
0.008 |
|
FD Interest |
0.228 |
|
Net Profit |
2.419 |
|
PPF Interest |
0.041 |
|
Rent From Hiranandani Flat |
0.650 |
|
Rent From Kalher Factory |
0.117 |
|
|
13.288 |
|
Less |
|
|
Advance Income Tax |
0.150 |
|
Drawings |
0.415 |
|
Interest on Housing Loan |
0.000 |
|
LIC |
0.211 |
|
Municial Tax Resident |
0.011 |
|
S A Challan |
0.070 |
|
TDS |
0.298 |
|
Total |
12.133 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
12.133 |
9.820 |
7.799 |
|
|
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 |
12.133 |
9.820 |
7.799 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
|
|
|
2] Unsecured Loans |
|
|
|
|
|
TOTAL BORROWING |
23.181 |
19.023 |
19.351 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
35.314 |
28.843 |
27.150 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.926 |
23.246 |
24.782 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.943 |
2.746 |
2.845 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.151
|
2.353 |
5.005 |
|
|
Sundry Debtors |
28.115
|
16.141 |
9.379 |
|
|
Cash & Bank Balances |
0.588
|
1.722 |
1.075 |
|
|
Other Current Assets |
0.308
|
0.207 |
0.635 |
|
|
Loans & Advances |
0.101
|
0.101 |
0.101 |
|
Total
Current Assets |
33.263
|
20.524 |
16.195 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.901
|
15.510 |
15.136 |
|
|
Other Current Liabilities |
0.987
|
0.284 |
0.550 |
|
|
Provisions |
1.930
|
1.879 |
0.986 |
|
Total
Current Liabilities |
24.818
|
17.673 |
16.672 |
|
|
Net Current Assets |
8.445
|
2.851 |
(0.477) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
35.314 |
28.843 |
27.150 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
69.574 |
63.935 |
52.707 |
|
|
|
Other Income |
0.002 |
0.027 |
0.142 |
|
|
|
TOTAL |
69.576 |
63.962 |
52.849 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
45.238 |
39.139 |
35.548 |
|
|
|
AMC Charges |
0.040 |
0.000 |
0.000 |
|
|
|
Audit Fees |
0.250 |
0.250 |
0.169 |
|
|
|
Bad Debts |
0.000 |
0.000 |
0.007 |
|
|
|
Bank Charges |
0.306 |
0.084 |
0.512 |
|
|
|
Bank Interest |
0.958 |
0.927 |
0.082 |
|
|
|
Brokerage |
0.070 |
0.030 |
0.347 |
|
|
|
Car Expenses |
0.147 |
0.172 |
0.224 |
|
|
|
Conveyance |
0.177 |
0.146 |
0.145 |
|
|
|
Courier |
0.062 |
0.059 |
0.036 |
|
|
|
Discount |
0.019 |
0.054 |
0.000 |
|
|
|
Electricity Expenses for Generator |
0.047 |
0.000 |
0.000 |
|
|
|
Insurance |
0.083 |
0.093 |
0.040 |
|
|
|
Interest on Car Loan |
0.000 |
0.000 |
0.028 |
|
|
|
Interest on Office Loan |
1.423 |
1.462 |
0.372 |
|
|
|
Interest on Taxes |
0.000 |
0.000 |
0.000 |
|
|
|
Membership Fees |
0.148 |
0.074 |
0.112 |
|
|
|
Miscellanceous Expenses |
0.091 |
0.080 |
0.013 |
|
|
|
Municipal Tax |
0.000 |
0.000 |
0.011 |
|
|
|
Office Expenses |
0.289 |
0.226 |
0.291 |
|
|
|
Office Maintenance |
0.257 |
0.230 |
0.134 |
|
|
|
Octroi Charges |
0.000 |
0.000 |
0.092 |
|
|
|
Office Premises Insurance |
0.000 |
0.000 |
0.002 |
|
|
|
Petrol and Fuel |
0.204 |
0.132 |
0.006 |
|
|
|
Printing and Stationery |
0.155 |
0.039 |
0.054 |
|
|
|
Professional Fees |
0.863 |
0.502 |
0.550 |
|
|
|
Professional Tax |
0.003 |
0.003 |
0.003 |
|
|
|
Repairs and Maintenance |
0.361 |
0.504 |
0.116 |
|
|
|
Sales Promotion |
0.000 |
0.012 |
0.059 |
|
|
|
Sales Tax/VAT of Previous year |
0.085 |
0.024 |
0.000 |
|
|
|
Society Charges/Prop Tax |
0.037 |
0.039 |
0.038 |
|
|
|
Staff Welfare |
0.434 |
0.408 |
0.396 |
|
|
|
Telephone Expenses |
0.200 |
0.178 |
0.137 |
|
|
|
Transportation |
0.292 |
0.274 |
0.180 |
|
|
|
Travelling Expenses |
0.622 |
0.436 |
0.196 |
|
|
|
VAT Audit |
0.050 |
0.050 |
0.056 |
|
|
|
Vehicle Insurance |
0.021 |
0.019 |
0.014 |
|
|
|
Xerox |
0.000 |
0.000 |
0.001 |
|
|
|
Direct Expenses |
11.553 |
12.348 |
8.634 |
|
|
|
TOTAL |
64.485 |
57.994 |
48.605 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE DEPRECIATION |
5.091 |
5.968 |
4.244 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION |
2.672 |
3.061 |
1.887 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
2.419 |
2.907 |
2.357 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
3.47
|
4.54 |
4.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.46
|
6.64 |
5.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.29 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
1.91
|
1.93 |
2.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.16 |
0.97 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
52.707 |
63.935 |
69.574 |
|
|
|
21.303 |
8.820 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
52.707 |
63.935 |
69.574 |
|
Profit |
2.357 |
2.907 |
2.419 |
|
|
4.47% |
4.55% |
3.48% |
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 |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
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 exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.92.76 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.