MIRA INFORM REPORT

Report No. :	511934
Report Date :	01.06.2018

IDENTIFICATION DETAILS

Name :	STOVE KRAFT PRIVATE LIMITED
Registered Office :	81/1, Medamarana Halli Village, Harohalli Hobli, Kanakapura Taluka, Ramanagar District, Bangalore – 562112, Karnataka
Tel. No.:	91-80-2801622
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	28.06.1999
Com. Reg. No.:	08-025387
Capital Investment / Paid-up Capital :	INR 189.001 Million
CIN No.: [Company Identification No.]	U29301KA1999PTC025387
IEC No.: [Import-Export Code No.]	0700007717
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
PAN No.: [Permanent Account No.]	AADCS9958B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of a wide range of kitchen appliances and home appliances. (Registered activity) Line of business is updated as per latest annual report 2017.
No. of Employees :	Information declined by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 1100000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Stove Kraft Private Limited (SKPL) was incorporated in the year 1999. It is a Bangalore based company engaged in the manufacturing and trading of a wide range of kitchen appliances and home appliances. The company markets its products under two brands: ‘Pigeon’ and ‘Gilma’. Products sold under the ‘Pigeon’ brand through multi-brand retailers include pressure cookers, LPG gas stoves and non-stick cookware. Under the ‘Gilma’ brand, SKPL markets chimneys, hobs and a range of kitchen appliances including mixer-grinders, wet grinders, microwave ovens, etc. besides catering to the growing modular kitchen segment. For the financial year 2017, the company has achieved revenue growth of 47.10% as compared to the previous year but has reported a low profit margin of 0.22%. The satisfactory financial profile of the company is marked by sufficient net worth base along with average debt balance sheet profile. The rating takes into account the company’s established presence in the domestic kitchen appliances industry, particularly in southern Indian market, along with growing scale in the revenue. Payment seems to slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. Note: Information regarding No. of Employee, Import and Export, Payments Terms and Customer’s and Suppliers are not available from any sources and management also denied to provide the information on the same.

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
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term Bank Facilities = BB-
Rating Explanation	Moderate risk of default and moderate credit risk.
Date	10, October 2017
Rating Agency Name	ICRA
Rating	Short term Bank Facilities = A4
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	10, October 2017

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 01.06.2018

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 DENIED BY

Name :	Mr. Akshay Agnihotri
Designation :	National Sales Manager
Contact No.:	91-9004695380
Date :	28.05.2018

MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-80-28016222

LOCATIONS

Registered Office :	81/1, Medamarana Halli Village, Harohalli Hobli, Kanakapura Taluk, Ramanagar, Banglore-562112, Karnataka, India
Tel. No.:	91-80-28016222
Mobile No.:	91-9004695380 (Mr. Akshay)
Fax No.:	91-80-28016209
E-Mail :	vivek.mishra@stovekraft.com info@stovekraft.com ramkrishna.pendyala@stovekraft.com suctomercare@stovekraft.com
Website :	http://www.stovekraft.com

DIRECTORS

As on 31.03.2017

Name :

Mr. Rajendra Jugaraj Gandhi

Designation :

Managing Director

Address :

203, Olympus 1, Prestige Acropolis No.20, Hosur Road, Bangalore-560029, Karnataka, India

Date of Birth/Age :

27.12.1967

Qualification :

S.S.L.C

Date of Appointment :

28.06.1999

PAN No.:

ABLPG5270E

DIN No.:

01646143

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U31909KA2003PTC031896	PIGEON APPLIANCES PRIVATE LIMITED	05/05/2003	-
U74999MH2007NPL168975	JAIN INTERNATIONAL TRADE ORGANISATION	29/09/2016	-

Name :

Mr. Abhay Kumar Pandey

Designation :

Nominee Director

Address :

B-1601, Lodha Bellissimo, N.M. Joshi Marg, Mahalakshmi, Mumbai-400011, Maharashtra, India

Date of Birth/Age :

01.12.1971

Qualification :

Graduate

Date of Appointment :

16.09.2015

PAN No.:

AGQPP9738G

DIN No.:

01650845

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U36998DL2016PTC299702	IBAHN ILLUMINATION PRIVATE LIMITED	15/02/2017	-
U24233GJ2007PTC051467	LA RENON HEALTHCARE PRIVATE LIMITED	16/06/2015	-
U74900WB2014NPL203219	IIMCALCUTTA INNOVATION PARK	04/04/2015	-
U74120MH2013PTC243214	KOYE PHARMACEUTICALS PRIVATE LIMITED	24/10/2013	-
U80903DL2012PTC236595	B9 BEVERAGES PRIVATE LIMITED	30/09/2016	-
U72900DL2010PLC206414	AKUMENTIS HEALTHCARE LIMITED	22/08/2015	-
U24246GJ2009PTC058957	VINI COSMETICS PRIVATE LIMITED	16/09/2013	-
U85110RJ2007PTC025459	ASG HOSPITAL PRIVATE LIMITED	30/09/2013	-
U24231DL2006PTC144350	MOOLCHAND HEALTHCARE PRIVATE LIMITED	10/06/2011	-
U24114PN2000PTC014669	INDIGO PAINTS PRIVATE LIMITED	20/08/2014	-
U24231TN2005PTC056730	CURATIO HEALTH CARE (I) PRIVATE LIMITED	17/08/2015	-
U65999KA2000PTC033945	SEQUOIA CAPITAL INDIA ADVISORS PRIVATE LIMITED	14/10/2008	-

Name :

Ms. Neha Gandhi

Designation :

Director

Address :

203, Olympus 1, Prestige Acropolis, 20, Hosur Road, Next To Forum Mall, Koramangala, Dharmaram College, Bangalore – 560029, Karnataka, India

Date of Appointment :

30.09.2016

DIN No.:

07623685

Name :

Mrs. Sunita Rajendra Gandhi

Designation :

Director

Address :

203, Olympus Prestige Acropolis Koramangala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

11.08.1971

Qualification:

S.S.L.C

PAN No.:

ADUPG6366L

Date of Appointment :

10.07.2004

DIN No :

01676100

NOTE:

· As per our previous database, Mr. Nikhil Kashyab Balaraman was the director of the company, however, he does not appear in the current government registry records and the same could not be confirmed with the management as well.

· Date of appointment, address and designation of the directors has been updated as per the latest government registry records.

KEY EXECUTIVES

Name :	Mr. Akshay Agnihotri
Designation :	National Sales Manager
Name :	Mrs. Rehana Anna Rajan
Designation :	Company Secretary
Address :	70, Bhavani Nilaya, 1st Main 4th Cross Rajeshwari L Akshayanagar T C Palaya, Main Road, Bangalore – 560036, Karnataka, India
Date of Appointment :	11.05.2018
PAN No.:	AVPPR9927H
Name :	Mr. Vivek Mishra
Designation :	Company Secretary
Address :	16 B Madan Chatterjee Lane, Kolkata-700007, West Bengal, India
Date of Birth/Age :	27.10.1983
Qualification :	Company Secretary
Date of Appointment :	22.03.2016
PAN No.:	AOTPM9958A

Note: As per our previous database records, Mr. Rahul and Mrs. Sapna Bhatia were the key executive of the company, however, they does not appear in the current government registry records and the same could not be confirmed with the management as well.

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares
Rajendra Jugaraj Gandhi	18184622
Sunita Rajendra Gandhi	259300
Sequoia Capital India Growth Investments II, Ebene, Mauritius	228089
Sequoia Capital India Growth Investments Holdings – I, Mauritius Ebene	228089
Sequoia Capital India Growth Investments II, Mauritius, Ebene	5
Sequoia Capital India Growth Investment Holdings – I, Mauritius, Ebene	5
Total	18900110

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoter – (Individual/ Hindu Undivided Family – Indian)	97.59
Public – Other – Foreign venture capital	2.41
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of a wide range of kitchen appliances and home appliances. (Registered activity)

Line of business is updated as per latest annual report 2017.

Products :

Item Code No.	Product Description
85166000	Cookers, Cooking Plates Boiling Rings, Grillers and Roasters

NIC Code of the Product/service	Product Description
28997	Pressure Cooker
29302	LPG Stoves
28997	Non Stick Cookwares

Brand Names :

“PIGEON” AND “GILMA”

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

Information declined by the management

Bankers :

Bank Name	The South Indian Bank Limited
Branch	No.74, Sumeru Towers, Near St. Joseph College of Commerce, Brigade Road, Bangalore – 560025, Karnataka, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Rupee term loans from banks	5.061	0.000
Foreign currency term loans from banks	16.210	82.913
Short-term borrowings
Loans repayable on demand from banks	781.189	858.177
Total	802.460	941.090

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Deloitte Centre, Anchorage II, 100/2, Richmond Road, Bangalore- 560025, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	AACFD3771D
Memberships :	Not Available
Collaborators :	Not Available
Associate	Stove Kraft India, India Saya Industries, India
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Pigeon Appliances Private Limited, India U31909KA2003PTC031896 Shinag Allied Enterprises, India

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
20000005	Equity Shares	INR 10/- each	INR 200.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18900110	Equity Shares	INR 10/- each	INR 189.001 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	189.001	189.001	189.001
(b) Reserves and Surplus	204.970	200.489	445.117
(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)	393.971	389.490	634.118
(3) Non-Current Liabilities
(a) long-term borrowings	147.889	209.531	267.446
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	169.041	108.007	52.223
(d) long-term provisions	32.439	25.164	22.063
Total Non-current Liabilities (3)	349.369	342.702	341.732
(4) Current Liabilities
(a) Short-term borrowings	781.189	858.177	689.958
(b) Trade payables	1096.307	921.560	675.977
(c) Other current liabilities	223.146	217.282	187.011
(d) Short-term provisions	9.888	12.080	9.354
Total Current Liabilities (4)	2110.530	2009.099	1562.300
TOTAL	2853.870	2741.291	2538.150
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1145.085	1173.257	985.783
(ii) Intangible Assets	55.067	71.097	61.618
(iii) Tangible assets capital work-in-progress	0.862	2.876	152.753
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	90.629	81.810	191.586
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	49.638	48.247	61.593
(e) Other Non-current assets	10.807	43.275	41.737
Total Non-Current Assets	1352.088	1420.562	1495.070
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	718.537	694.755	466.686
(c) Trade receivables	595.318	499.991	489.050
(d) Cash and bank balances	35.900	33.803	1.298
(e) Short-term loans and advances	151.420	91.146	85.148
(f) Other current assets	0.607	1.034	0.898
Total Current Assets	1501.782	1320.729	1043.080
TOTAL	2853.870	2741.291	2538.150

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	5105.252	3470.659	3285.398
	Other Income	19.681	13.880	54.220
	TOTAL	5124.933	3484.539	3339.618
Less	EXPENSES
	Cost of Materials Consumed	2739.470	1913.678	1594.400
	Purchases of Stock-in-Trade	833.735	798.738	601.967
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(111.183)	(178.728)	102.694
	Employee benefit expense	514.927	356.148	330.725
	Other expenses	872.982	596.775	558.560
	Exceptional items before tax	0.000	0.000	0.075
	TOTAL	4849.931	3486.611	3188.421
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	275.002	(2.072)	151.197
Less	FINANCIAL EXPENSES	149.597	148.083	160.917
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	125.405	(150.155)	(9.720)
Less/ Add	DEPRECIATION/ AMORTISATION	114.778	102.318	(43.426)
	PROFIT/ (LOSS) BEFORE TAX	10.627	(252.473)	33.706
Less	TAX	(0.852)	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	11.479	(252.473)	33.706
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(1044.416)	(791.943)	(825.649)
	Balance Carried to the B/S	(1032.937)	(1044.416)	(791.943)
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	0.000	309.354	85.173
	Other Earning	0.000	0.000	0.000
	TOTAL EARNINGS	0.000	309.354	85.173
	IMPORTS
	Raw Materials	311.473	99.085	92.055
	Components and spare parts	0.000	0.000	3.166
	Capital Goods	0.000	0.000	28.628
	TOTAL IMPORTS	311.473	99.085	123.849
	Earnings / (Loss) Per Share (INR)	0.61	(13.36)	1.78

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	68.040	66.330	62.590
Net cash flows from (used in) operations	324.835	172.863	355.676
Net cash flows from (used in) operating activities	324.835	172.140	360.896

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	42.56	52.58	54.33
Account Receivables Turnover (Income / Sundry Debtors)	8.58	6.94	6.72
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	111.99	124.01	112.34
Inventory Turnover (Operating Income / Inventories)	0.38	0.00	0.32
Asset Turnover (Operating Income / Net Fixed Assets)	0.23	0.00	0.13

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.82	0.83	0.75
Debt Equity Ratio (Total Liability / Networth)	2.53	2.91	1.61
Current Liabilities to Networth (Current Liabilities / Net Worth)	5.36	5.16	2.46
Fixed Assets to Networth (Net Fixed Assets / Networth)	3.05	3.20	1.89
Interest Coverage Ratio (PBIT / Financial Charges)	1.84	(0.01)	0.94

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.22	(7.27)	1.03
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.40	(9.21)	1.33
Return on Investment (ROI) ((PAT / Networth) * 100)	%	2.91	(64.82)	5.32

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.71	0.66	0.67
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.37	0.31	0.37
G-Score Ratio Financial (Networth / Total Assets)	0.14	0.14	0.25
G-Score Ratio Debt (Debts / Equity Capital)	5.28	6.00	5.40
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.71	0.66	0.67

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)
Share Capital	189.001	189.001	189.001
Reserves & Surplus	445.117	200.489	204.970
Net worth	634.118	389.490	393.971
Long-term borrowings	267.446	209.531	147.889
Short term borrowings	689.958	858.177	781.189
Current maturities of long-term debts	62.590	66.330	68.040
Total borrowings	1019.994	1134.038	997.118
Debt/Equity ratio	1.609	2.912	2.531

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	3285.398	3470.659	5105.252
	0.000	5.639	47.097

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	3285.398	3470.659	5105.252
Profit/ (Loss)	33.706	(252.473)	11.479
	1.03 %	(7.27 %)	0.22 %

LEGAL CASES

Civil Judge Senior Division, Hisar

Case Details

Case Type: CS

Filing Number: 2840/2016Filing Date: 20-09-2016

Registration Number: 1716/2016Registration Date: 21-09-2016

CNR Number: HRHS01-003466-2016

Case Status

First Hearing Date: 19th October 2016

Next Hearing Date: 31st January 2017

Stage of Case: Notice

Court Number and Judge: 18-Civil Judge (Junior Division)

Petitioner and Advocate

1) Hindustan Tele House

Address - 101, Jambeshwar Market, Hisar through its Proprietor Amit Manchanda

 Advocate- Dharampal Soni

Respondent and Advocate

1) Stovekraft Pvt. Limited

Address - 81, Harohailli Industrial Area, Kanakapura Taluk, Ramanagare, Distt. Bangaloure Rural 562112 through its Managing Director

2) Bombay Plastics

 36, Sena Nagar, Near Model Town Crossing, Ambala City, Haryana through its authorised person

Acts

Under Act(s)	Under Section(s)
Specific Relief Act	39

History of Case Hearing

Registration Number	Judge	Business On Date	Hearing Date	Purpose of hearing
1716/2016	Civil Judge (Junior Division)	19-10-2016	13-12-2016	Notice
1716/2016	Civil Judge (Junior Division)	13-12-2016	31-01-2017	Notice

Order Number	Order Date	Order Details
1	19-10-2016	Copy of order
2	13-12-2016	Copy of order

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	No
35	Negative Reporting by Auditors in the Annual Report	No

REVIEW OF PERFORMANCE

a. The year the turnover of the Company has increased to INR 5105.252 Million from the previous year INR 3470.659 Million. The company had a profit of INR 11.479 Million in the current year as compared to last years loss of INR 252.473 Million.

b. The Company taken various measures to make profitable in the current year such as reduction of material cost, reduction of overheads and reduction of marketing spent, etc. The Company is vigorously pursuing various steps to improve sales coupled with cost conservation measures and reduction of overheads to improve profitability in coming years.

STATE OF COMPANY'S AFFAIRS AND FUTURE OUTLOOK

The Stove Kraft Private Limited (ISO 9001:2008 certified) is engaged in the business of Indian kitchen appliances and home appliances under the flagship brands, Pigeon and Gilma, each have a unique customer proposition and deliver high quality products. Across both brands, we offer premium kitchen solutions through our wide range of products including pressure cookers, non-stick cookware, gas and induction cooktops and mixer grinders among others.

The company is constantly working in the vision of the company as future outlook to establish the brand "STOVEKRAFT" as a global brand, known for its values, assertiveness and the acumen to adapt to an ever changing environment.

• The company has the following manufacturing capacities:
• Non stick Cookware: installed capacity up to 6.9 million units
• Gas and Induction Cook-tops; Installed capacity up to 2.5 million units
• Pressure Cookers: installed capacity up to 2.0 million units
• Mixer Grinder: Installed capacity expansion of up to 0.6 million units

UNSECURED LOAN

Unsecured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Fully convertible debentures others	126.618	126.618
Total	126.618	126.618

INDEX OF CHARGES:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G77385854	100142429	THE SOUTH INDIAN BANK LIMITED	30/10/2017	23/11/2017	-	225000000.0	No.74 Sumeru Towers,Near St.Joseph College Of Commerce, Brigade RoadBangaloreKA560025IN
2	B92392059	10437379	Standard Chartered Bank	11/07/2013	16/12/2013	-	240000000.0	NO.112, SERENITY, 3rd floor, East Wing, 5th BlockKoramangala Industrial AreaBangaloreKA560095IN
3	C54405295	10379321	INDUSIND BANK LIMITED	10/09/2012	05/09/2014	-	137300000.0	Ground Floor, Centenary Building,No.28, M.G. Road,BangaloreKA560001IN
4	C54199450	10161176	State Bank of India	29/04/2009	18/04/2015	-	454000000.0	Specialised Mid-Corporate Branch, No. 97,Railway Parallel Road, Kumarapark westBangaloreKA560020IN
5	G09463597	10031560	Standard Chartered Bank	05/12/2006	10/08/2016	-	500000000.0	No.112, 'Serenity', Koramangala Industrial Area5th Block, KoramangalaBangaloreKA560095IN
6	C41764986	10304504	Standard Chartered Bank	30/08/2011	05/01/2015	30/01/2015	450000000.0	No.112, 'Serenity', Koramangala Industrial Area5th Block, KoramangalaBangaloreKA560095IN
7	B86143534	10353375	Citi Bank N.A.	07/05/2012	04/09/2012	19/09/2013	150000000.0	UB City, Canberra Block,Vittal Mallya RoadBangaloreKA560001IN
8	B78741444	10142880	Axis Bank Limited	31/01/2009	-	22/06/2013	557000.0	SME CENTRE NO 41, SHESHADRI ROADANAND RAO CIRCLEBANGALOREKA560009IN
9	A67559666	10062241	Citibank N.A	13/07/2007	-	02/07/2009	60000000.0	506-507, Level 5Prestige Meridian 2, M G RoadBangaloreKA560001IN
10	A63743611	10121068	ING VYSYA BANK LIMITED	28/06/2008	-	08/06/2009	100000000.0	22, M G Road,BangaloreKA560001IN

FIXED ASSETS

• Land
• Buildings
• Factory building
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Motor vehicles
• Office equipment
• Computer equipments
• Leasehold improvements

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 67.82
UK Pound	1	INR 90.16
Euro	1	INR 78.69

INFORMATION DETAILS

Information Gathered by :	AKS
Analysis Done by :	PRY
Report Prepared by :	SUJ

SCORE FACTORS

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

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)

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.