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MIRA INFORM REPORT
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Report No. : |
502251 |
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Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
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Name : |
KAPOOR SALES CORPORATION |
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Registered
Office : |
J-424, Shankar Road, New Rajinder Nagar, New Delhi-110060 |
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Tel. No.: |
91-11-28741663 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Year of
Establishment : |
1969 |
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Capital
Investment / Paid-up Capital : |
INR 37.984 Million |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
07AAAFK0153G1ZU (Delhi) 06AAAFK0153G1ZW (Gurugram) 09AAAFK0153G1ZQ (Noida) |
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TIN No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAAFK0153G |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business
: |
Trader
and importer of polycarbonate resin (PC), moulding extrusion pellets, poly vinyl
chloride (PVC) PP, PE, silicon fluids, vrethane additives, sealants, MMA meth
acrylic acid, etc. [Confirmed by management] |
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No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 109000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1969 as a partnership firm and it is having satisfactory track. For the financial year 2017, firm has increased its revenue from operations as compared to previous year and maintained decent profitability margin at 5.81% during the year under review. Rating takes into consideration firm’s sound financial profile risk profile along with healthy capital base and low debt balance sheet. The firm also derives strength from its established standing track records of business operations and improvement in the revenue as well as profitability profile during the year. Further, supplier (Gujarat State Fertilizers and Chemicals Ltd) has also provided positive feedback and satisfied with payment behaviour. Trade relations are reported as fair. Business is active. Payments are seems to be usually correct. In view of aforesaid, the firm can be considered 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 19.04.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Ashok Nayak |
|
Designation : |
Accountant |
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Contact No.: |
91-11-28741663 |
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Date : |
13.04.2018 |
LOCATIONS
|
Registered Office : |
J-424, Shankar Road, New Rajinder Nagar, New Delhi-110060, India |
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Tel. No.: |
91-11-28741663 / 4 |
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Mobile No.: |
91-9718480536 (Mr. Ashok Nayak) 91-9899074747 (Mr. Sagar) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
1400 Sq. ft. |
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Location : |
Owned |
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Locality : |
Commercial |
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Warehouse 1: |
Khasra No. 217, Extended Lal Dora, Village Bamnoli Sector 18, Dwarka New Delhi – 110075, India |
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Warehouse 2: |
B-117, Sector-6, Noida, Uttar Pradesh, India |
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Warehouse 3: |
Plot No. 72, Sector-18, Gurugram-122015, Haryana, India |
PARTNERS
|
Name : |
Mr. B. R. Kapoor |
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Designation : |
Partner |
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|
Name : |
Mr. Sanjeev Kapoor |
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Designation : |
Partner |
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Name : |
Mr. Sagar Kapoor |
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Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Nayak |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Trader
and importer of polycarbonate resin (PC), moulding extrusion pellets, poly
vinyl chloride (PVC) PP, PE, silicon fluids, vrethane additives, sealants, MMA
meth acrylic acid, etc. [Confirmed by management] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
Saudi Arabia |
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Terms : |
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Selling : |
Advance Payment and Credit [30 Days] |
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Purchasing : |
Advance Payment and Credit [30 Days] |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
35 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Sunil Suri and Associates Chartered Accountants |
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Membership No.: |
083623 |
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Collaborators : |
Not Available |
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Membership : |
Not Available |
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Sister Concern : |
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CAPITAL STRUCTURE
AS ON 31.03.2017
|
Partners Capital Account |
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Owned : |
INR 37.984 Million |
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Borrowed : |
-- |
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Total : |
INR 37.984
Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Partners Capital |
37.984 |
36.196 |
34.845 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
37.984 |
36.196 |
34.845 |
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LOAN FUNDS |
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1] Secured Loans |
14.790 |
19.951 |
21.522 |
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2] Unsecured Loans |
2.700 |
2.790 |
2.700 |
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TOTAL
BORROWING |
17.490 |
22.741 |
24.222 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
55.474 |
58.937 |
59.067 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.439 |
16.121 |
17.317 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.843 |
3.189 |
2.919 |
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Sundry Debtors |
122.694 |
140.223 |
84.064 |
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Cash & Bank Balances |
27.894 |
12.922 |
13.439 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
19.432 |
17.456 |
17.179 |
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Total Current Assets |
173.863 |
173.790 |
117.601 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
128.338 |
118.583 |
66.831 |
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Other Current Liabilities |
9.490 |
12.391 |
9.020 |
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Provisions |
0.000 |
0.000 |
0.000 |
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Total Current Liabilities |
137.828 |
130.974 |
75.851 |
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Net Current
Assets |
36.035 |
42.816 |
41.750 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
55.474 |
58.937 |
59.067 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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SALES |
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Income |
148.033 |
135.413 |
169.107 |
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Other Income |
15.294 |
16.458 |
27.325 |
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TOTAL |
163.327 |
151.871 |
196.432 |
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Less |
EXPENSES |
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Cost of goods sold |
137.592 |
129.075 |
161.794 |
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Freight and cartage |
0.676 |
1.746 |
2.315 |
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Clearing and forwarding
expenses |
1.723 |
0.200 |
0.175 |
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Audit fees |
0.155 |
0.178 |
0.177 |
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Car expenses |
0.399 |
0.315 |
0.357 |
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Computer expenses |
0.031 |
0.028 |
0.026 |
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Conveyance and travelling |
0.191 |
0.498 |
0.459 |
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Diwali expenses |
1.593 |
0.361 |
0.369 |
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Donation |
0.000 |
0.055 |
0.010 |
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Electricity and water
charges |
0.228 |
0.222 |
0.263 |
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Sales promotion expenses |
0.183 |
0.143 |
0.169 |
|
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VAT paid |
0.046 |
0.000 |
0.000 |
|
|
Expenses on visit of
principals |
0.464 |
0.411 |
0.227 |
|
|
Salary to partners |
1.560 |
1.560 |
1.560 |
|
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Interest to partners |
2.995 |
3.323 |
2.590 |
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Other expenses |
3.576 |
4.804 |
17.371 |
|
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TOTAL |
151.412 |
142.919 |
187.862 |
|
|
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|
PROFIT / (LOSS) BEFORE INTEREST,
DEPRECIATION AND AMORTISATION |
11.915 |
8.952 |
8.570 |
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|
|
|
|
Less |
FINANCIAL EXPENSES |
1.723 |
1.454 |
0.830 |
|
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PROFIT / (LOSS) BEFORE
DEPRECIATION AND AMORTISATION |
10.192 |
7.498 |
7.740 |
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|
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|
Less |
DEPRECIATION/
AMORTISATION |
1.593 |
1.444 |
1.159 |
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|
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|
NET PROFIT |
8.599 |
6.054 |
6.581 |
Note: Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
302.52 |
377.97 |
181.44 |
|
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|
Account Receivables Turnover (Income /
Sunday Debtors) |
1.21 |
0.97 |
2.01 |
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|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
340.45 |
335.33 |
150.77 |
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|
Inventory Turnover (Operating Income / Inventories) |
3.10 |
2.81 |
2.94 |
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|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.61 |
0.56 |
0.49 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.80 |
0.81 |
0.74 |
|
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|
Debt Equity Ratio (Total Liability / Networth) |
0.46 |
0.63 |
0.70 |
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Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.70 |
3.70 |
2.25 |
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|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.51 |
0.45 |
0.50 |
|
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|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
6.92 |
6.16 |
10.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
5.81 |
4.47 |
3.89 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.45 |
3.19 |
4.88 |
|
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|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.64 |
16.73 |
18.89 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.24 |
1.30 |
1.50 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.21 |
1.28 |
1.46 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.20 |
0.19 |
0.26 |
|
|
|
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|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.46 |
0.63 |
0.70 |
|
|
|
|
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|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.24 |
1.30 |
1.50 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Partners Capital |
34.845 |
36.196 |
37.984 |
|
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 |
34.845 |
36.196 |
37.984 |
|
|
|
|
|
|
Secured Loans |
21.522 |
19.951 |
14.790 |
|
Unsecured Loans |
2.700 |
2.790 |
2.700 |
|
Total borrowings |
24.222 |
22.741 |
17.490 |
|
Debt/Equity ratio |
0.695 |
0.628 |
0.460 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
169.107 |
135.413 |
148.033 |
|
|
|
(19.925) |
9.320 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
169.107 |
135.413 |
148.033 |
|
Profit |
6.581 |
6.054 |
8.599 |
|
|
3.89% |
4.47% |
5.81% |
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 |
Yes |
|
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
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 |
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 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
|
INR |
|
US Dollar |
1 |
INR 65.68 |
|
UK Pound |
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.