MIRA INFORM REPORT
|
Report Date : |
2nd May, 2006 |
IDENTIFICATION DETAILS
|
Name : |
KHS
MACHINERY PRIVATE LIMITED |
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Registered Office : |
53, Madhuban, Near Madalpur
Underbridge, Ellisbridge P.O., Ahmedabad 380006, Gujarat, India |
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Country : |
India
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
26th
May, 1997 |
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CIN No.: |
U29199GJ1997PTC032397 |
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Com. Reg. No.: |
04-32397 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
AHMK00378A |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturers and Sellers
of Labeller, Filler and Paramix. |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered/Administrative
Office : |
53, Madhuban, Near Madalpur
Underbridge, Ellisbridge P.O., Ahmedabad 380006, Gujarat, India |
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Tel. No.: |
91-79-26442729/26440331/26443236 |
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Fax No.: |
91-79-26421324 |
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E-Mail : |
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Website : |
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Area : |
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Location : |
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Factory 1 : |
Plot No. 14/16, GIDC, Phase
I, Vatva, Ahmedabad 382445, Gujarat, India |
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Tel. No.: |
91-79-5832023/24/25 |
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Fax No.: |
91-79-5832026 |
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Area : |
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Location : |
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DIRECTORS
|
Name : |
Mr. Mahendra N. Patel |
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Designation : |
Managing Director |
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Address : |
15, Kairavi Bunglows, Near
Sarathi Hotel, Bodekdev, Ahmedabad 380054, Gujarat, India |
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Date of Birth/Age : |
17.01.1949 |
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Qualification : |
M.Sc [Indl. Engg. and
Admn.] from U.K. |
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Experience : |
27 years |
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Date of Appointment : |
26.05.1997 |
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Name : |
Mr. Rahul Dr. Frank |
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Designation : |
Director |
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Address : |
Auf Der Bach 13, 64665
Alsbach, Bergstrabe, Germany |
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Date of Birth/Age : |
21.11.1954 |
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Date of Appointment : |
26.05.1997 |
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Name : |
Mr. Till Volkeer |
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Designation : |
Director |
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Address : |
Eichen Dorfestr 17, 65719
Hofheim. Germany |
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Date of Birth/Age : |
02.12.1940 |
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Date of Appointment : |
24.10.2001 |
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Name : |
Mr. Gras Rainer |
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Designation : |
Director |
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Address : |
AM,
Sportplatz 55545, Bad Kruznach |
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Date of Appointment : |
24.10.2001 |
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Name : |
Mr. Vogtland Heinz |
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Designation : |
Director |
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Address : |
An Derkamnnsstruck 23,
58239, Schwerle, Germany |
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Date of Appointment : |
01.05.2001 |
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Name : |
Mr. Yatindra R. Sharma |
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Designation : |
Director |
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Address : |
23, Yogeshwar Bunglows,
Opposite Kalindi Bunglows, Near Sola Overbridge, Ahmedabad 380054, Gujarat,
India |
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Date of Birth/Age : |
14.03.1955 |
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Date of Appointment : |
01.05.2001 |
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Name : |
Mr.
Petri Ulrich |
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Designation : |
Director
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Address : |
Crispinstrabe
5144229, Dortmund |
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Date of Birth/Age : |
29.12.1938 |
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Date of Appointment : |
26.05.1997 |
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Name : |
Mr.
Michl Manfred |
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Designation : |
Director
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Address : |
Zum
Frauenkope 21, Altebamberg |
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Date of Birth/Age : |
22.04.1947 |
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Date of Appointment : |
26.05.1997 |
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Name : |
Mr.
Bhuller Gurcharan S |
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Designation : |
Director |
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Address : |
KBM
Consulting Gmbh, Wetterau Str. 7 C- 63505 |
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Date of Birth/Age : |
2ND
December, 1940 |
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Date of Appointment : |
26th
May, 1997 |
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Name : |
Mr.
Gemmel Maternls |
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Designation : |
Director
|
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Address : |
Zur
Rosenhecke, 13 A, Bad Kreuznach 55545 |
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Date of Birth/Age : |
25.11.1942 |
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Date of Appointment : |
17.09.2004 |
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Name : |
Mr.
Reisgen Valentin |
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Designation : |
Director
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Address : |
Durestrabe
S 41466, Neuss |
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Date of Birth/Age : |
25.11.1956 |
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Date of Appointment : |
17.09.2004 |
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Name : |
Mr.
Till Volker |
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Designation : |
Director
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Address : |
Eichen Dorfestr 17, 65719 Hofheim.
Germany |
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Date of Appointment : |
18.07.2005 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr. Mahendra N. Patel |
99990 |
|
Mr. Nayana M Patel |
10 |
|
Mr. Bhuller Gurcharan S |
100000 |
|
Mr. Kohli Kevalkishan K |
100000 |
|
Mr. Mamata Machinery |
50000 |
|
M/s. KHS Maschinen |
600000 |
|
Mr. Sharma Yatindra R |
50000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Sellers
of Labeller, Filler and Paramix. |
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|
|
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Products : |
Labeler
8422 Filifr
8422 Paramix
- 8422 |
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Export: |
Germany,
China, Sri Lanka and Bangladesh |
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Imports from : |
Canada,
Germany, U.K. and U.S.A |
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Terms : |
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Purchasing : |
L/C
[60/90 days] terms |
GENERAL INFORMATION
|
Suppliers : |
v
Schelemkas Enterprises
Inc., USA v
KHS Maschinen Und
Anlagenbau AG, Germany v
Klockner Hansel,
Germany |
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No. of Employees : |
50 |
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Bankers : |
v
State Bank of India,
Industrial Estate Branch, Vatva, Ahmedabad 382445, Gujarat, India v
Standard Chartered
Grindlays Bank, C. G. Road, Ahmedabad 380006, Gujarat, India v
HDFC Bank Limited,
Navrangpura Branch, Ahmedabad 380009, Gujarat, India |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory
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Auditors : |
Dinesh R. Shah and Company Chartered Accountants |
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Address: |
51, Madhuban, Near Madalpur
Under Bridge, Ellisbridge, Ahmedabad 380006, Gujarat, India |
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Associates/Subsidiaries
: |
v
Mamata Brampton
Engineering Private Limited v
Mamata Solar Private
Limited v
Mamata Ariwings
Private Limited v
KHS Machinery Private
Limited v
Klockner Desma
Machinery Private Limited v
Ferromatic Milaeron
India Limited v
SourcePro Infotech
Private Limited v
Mamata Marketing
Services v
Win Engineering
Private Limited v
Darling Muesco India
Private Limited v
Saturn Travels v
Mukti Trust v
KHS Machinen
Aniogenbou v
Mamta Machinery
Private Limited v
KHS Industrial
Maquians |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
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|
1] Share Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
120.410 |
116.893 |
68.184 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
130.410 |
126.893 |
78.184 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
28.298 |
6.842 |
0.011 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL
BORROWING
|
28.298 |
6.842 |
0.011 |
|
|
DEFERRED TAX LIABILITIES |
7.895 |
7.360 |
5.590 |
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|
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|
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TOTAL
|
166.603 |
141.095 |
83.785 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
48.682 |
51.256 |
34.970 |
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Capital work-in-progress
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INVESTMENT
|
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DEFERREX TAX ASSETS
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CURRENT ASSETS, LOANS & ADVANCES
|
|
|
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Inventories
|
251.277
|
215.799 |
89.616 |
|
|
Sundry Debtors
|
25.372
|
30.432 |
92.945 |
|
|
Cash & Bank Balances
|
87.592
|
181.488 |
211.092 |
|
|
Other Current Assets
|
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances
|
36.150
|
25.659 |
11.818 |
Total Current Assets
|
400.391
|
453.378 |
405.471 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
268.754
|
352.258 |
308.812 |
|
|
Provisions
|
13.716
|
11.281 |
47.943 |
Total Current Liabilities
|
282.470
|
363.539 |
356.755 |
|
Net Current
Assets
|
117.921
|
89.839 |
48.716 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.099 |
|
|
|
|
|
|
|
TOTAL
|
166.603 |
141.095 |
83.785 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
398.183 |
563.542 |
703.406 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
30.207 |
77.392 |
121.197 |
Provision for Taxation
|
15.288 |
17.402 |
31.077 |
Profit/(Loss) After Tax
|
14.919 |
59.990 |
90.120 |
|
|
|
|
|
Export Value
|
116.515 |
NA |
NA |
|
|
|
|
|
Import Value
|
70.267 |
107.445 |
78.976 |
|
|
|
|
|
Total Expenditure
|
367.975 |
486.149 |
582.208 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
3.74
|
10.64 |
12.81 |
|
|
|
|
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|
Net Profit Margin
(PBT/Sales) |
(%) |
7.58
|
13.73 |
17.23 |
|
|
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|
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|
Return on Total Assets
(PBT/Total Assets} |
(%) |
6.72
|
15.33 |
27.51 |
|
|
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|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.23
|
0.60 |
1.55 |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
2.38
|
2.91 |
4.56 |
|
|
|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
1.41
|
1.24 |
1.13 |
LOCAL AGENCY FURTHER INFORMATION
Year
in Retrospect:
Soft drink market grew with significant market constraints major reason for down side in the growth was controversy of pesticide content in soft drink severe Government controls have been imposed an cala majors in terms of stricter quality standards. Due to this very reason there were no major investments in this segment for the year in consideration. Despite above market growth constraints the company had broadened its market in local beer segment and export to Germany, China, Sri Lanka and Bangladesh. Company had made sales of Rs. 380 Millions with profit of Rs. 30.000 Millions
Future business plans are giving desired results. In future the company will have a strong local presence in soft drinks, Juices, Beer and Water market. Export development efforts will give significantly large share of business in future. Business outlook for near future looks promising with good growth.
Technology Absorption
The company had entered into an international technical Know how License Agreement with M/s. KHS Maschinen Und Anlagenbau AG, Germany for the manufacture and marketing of complete Bottling Lines in India. The company is also had also entered into and international technical Know how license agreement with M/s. KHS Maschinen GmbH, Germany for manufacture and marketing of Labeling Machines in India
Fixed Assets:
v Plant & Machinery
v Computer
v Furniture & Fixture
v Vehicles
v Office Equipment
The company has technical
and financial collaboration with :
ุ
KHS Machinen Und
Anblagenbau AG, Germany
-
For manufacturing and
marketing of complete bottling lines in India
ุ
KHS Anker Maschinebau
GmbH, Germany
-
For manufacturing and
marketing of Labelling Machines in India
Indian Market showed steep
slow down due to adverse fiscal position as well as the September 11, attach
on WTC, etc.
It utilises about 65%
imported raw materials in its manufacturing process and 59% imported spares for
trading.
Sales were reduced mainly due
to the continuous riots in the city during the period under report.
It foresee difference in
market trend. Good response in
Labelling Applications, Filling Solutions, Spirals and Filtering appliances,
for pharmaceuticals, Beer and Chemical Industry.
The group has collaboration
with :
ุ
Schelenkas Enterprises
Inc., USA
ุ
Cincinnati Milacron
Inc., USA
ุ
Pure Pack Inc., USA
ุ
Hibar Systems, Canada
ุ
Alsan Technologies,
Canada
ุ
Klockner Bartelt,
Germany
ุ
KHB Investment Holdings
S.A., Luxumberg
The group company took part
in exhibition for their machines in K 2001 held in Germany and got tremendous
response.
|
Name
of the Company |
KHS
MACHINERY PRIVATE LIMITED |
|
Presented
By |
Mr.
Mahendra N Patel |
|
|
|
|
1)
Date and description of instrument creating the change |
General
Agreement for the grant of small industries advance and Hypothecation of
Movables, Book Debts and other assets
dated 18.12.2001 |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.000 Millions |
|
3)
Short particular of the property charged. If the property acquired is subject
to charge, date of the acquired of the property should be given |
Hypothecation
of all present and future goods, book debts
movable and other assets of the Borrower including document of the
title to goods and other assets such as outstanding moneys, contract,
engagement, Securities investment and rights and the present machinery and
all future machinery. Borrower or of the bank or any 3rd party
whether in India or elsewhere throughout the world Facility
Guarantee
Rs. 1.000 Millions |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
Hypothecation
by way of first charge of all present and future goods, Book debts movable
and other assets and machinery Margin
10% Tenure
12 Months |
|
5)
Name and Address and description of the person entitled to the charge. |
State
Bank of India, Vatva Industries Branch, Vatava Ahmedabad |
|
6)
Date and brief description of
instrument modifying the charge |
NA
|
|
7)
Particulars of modifications specifying the terms and conditions or the
extent of operations of the charge in which modification is made and the
details of the modification. |
NA
|
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 Intl 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
companys 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.44.88 |
|
UK
Pound |
1 |
Rs.83.07 |
|
Euro |
1 |
Rs.56.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score
serves as a reference to assess SCs 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
|
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |