MIRA INFORM REPORT
|
Report Date : |
10th May, 2006 |
IDENTIFICATION DETAILS
|
Name : |
KLR INDUSTRIES LIMITED |
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Registered Office : |
Survey No. 222/1, Near
Nagarjuna Nagar Colony, Cherlapally Road, ECIL (PO), Hyderabad – 560 062,
Andhra Pradesh |
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Country: |
India |
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Financials as on: |
31.03.2005 |
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Date of Incorporation : |
29.01.2002 |
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Com. Reg. No.: |
01-38416 |
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CIN No.: |
U28939AP2002PLC038416 |
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IEC No.: |
0991009312 |
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TAN No.: |
HYDK02977C |
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PAN No.: |
AABCK7920K |
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Legal Form : |
A
Closely held Public limited liability company. |
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Line of Business : |
Manufacturers of Waterwell
Drilling Rigs, Minning and Construction Equipments and its tools &
accessories under the brand name KLR |
RATING & COMMENTS
|
MIRA’s 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 225000 |
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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 is a new company
with a strong capital base. Directors are reported as experienced,
respectable and having satisfactory means of their own. Their trade relations
are fair. Payments are usually correct and as per commitments The
company can be considered normal for business dealings at usual trade terms
and conditions with slight caution. |
LOCATIONS
|
Registered
Office/Factory : |
Survey No. 222/1, Near
Nagarjuna Nagar Colony, Cherlapally Road, ECIL (PO), Hyderabad – 560 062,
Andhra Pradesh, India |
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Tel. No.: |
91-40-27121828 |
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Fax No.: |
91-40-27120558 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
222/1,
Kapra Village, Keesara, Hyderabad – 500062, Andhra Pradesh, India |
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DIRECTORS
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Name : |
Mr. K. Laxma Reddy |
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Designation : |
Director |
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Address: |
12-13-779,Kimtee Colony,
Talnaka, Hyderabad |
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Age/Date of Birth: |
50 years |
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Qualification: |
M.Sc. |
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Experience: |
18 Years |
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Name : |
Mrs. K. Vijayalaxmi Reddy |
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Designation : |
Director
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Address: |
12-13-779,Kimtee
Colony, Talnaka, Hyderabad |
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Age/Date of Birth: |
43 years |
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Qualification: |
B.
A. |
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Experience: |
10
years |
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Name : |
Mr. K. Venkateswar Reddy |
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Designation : |
Director
|
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Address: |
12-13-779,Kimtee
Colony, Talnaka, Hyderabad |
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Age/Date of Birth: |
42 years |
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Qualification: |
B.E.
(Mech) |
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Experience: |
9
years |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
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Mr. K. Laxma Reddy |
|
1000000 |
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Mr. K. Vijayalaxmi Reddy |
|
1000000 |
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Mr. K. Venkateswar Reddy |
|
100000 |
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Mr. K. Rajgopal Reddy |
|
100000 |
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Mr. K. Pratap Reddy |
|
100000 |
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Mr. K. Konda Reddy |
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100000 |
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Mr. K. Lalitha Reddy |
|
100000 |
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Total |
|
2500000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Waterwell
Drilling Rigs, Minning and Construction Equipments and its tools &
accessories under the brand name KLR |
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Products : |
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Exports of |
AL-Faber Trading &
Construction Company Limited and Khalid Electrical & Mechanical EST |
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Exports to : |
Dhoha
& Qatar |
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Imports of: |
Zhu
Zhou Cemented Carbridge works |
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Imports from: |
China
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Terms : |
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Selling : |
L/C
90 days |
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Purchasing : |
L/C
90 days |
PRODUCTION STATUS
|
Particulars |
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Installed Capacity |
Actual Production |
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|
Rigs |
|
|
150 |
147 |
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Accessories / Tools
(assorted) |
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|
NA |
13,702 |
GENERAL INFORMATION
|
No. of Employees : |
Office
– 50, Factory – 200.Total – 250 |
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Bankers : |
State Bank of Hyderabad Hyderabad,
Andhra Pradesh, India |
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Credit Limit: |
Rs. 67.000 millions |
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Banking Relations : |
Satisfactory
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Auditors : |
C. V. Ramana Associates Chartered
Accountants |
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Address: |
409, Metro Residency, Raj
Bhavan Road, Somajyuda, Hyderabad |
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Mobile No.: |
91-9849438998 |
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Associates : |
KLR
Group of Companies |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
60,00,000 |
Equity Shares |
Rs.10/- |
Rs. 60.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25,00,000 |
Equity Shares |
Rs.10/- |
Rs. 25.000 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
|
25.000 |
25.000 |
|
|
2] Share Application Money |
|
27.834 |
28.121 |
|
|
3] Reserves & Surplus |
|
3.733 |
4.080 |
|
NETWORTH
|
|
56.567 |
57.201 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
61.796 |
46.239 |
|
|
2] Unsecured Loans |
|
- |
- |
|
TOTAL
BORROWING
|
|
61.796 |
46.239 |
|
|
|
|
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TOTAL
|
|
118.363 |
103.440 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
|
36.778 |
33.169 |
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Capital work-in-progress
|
|
- |
- |
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INVESTMENT
|
|
0.382 |
0.382 |
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CURRENT ASSETS, LOANS & ADVANCES
|
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Inventories
|
|
85.234 |
97.208 |
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Sundry Debtors
|
|
15.483 |
12.328 |
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Cash & Bank Balances
|
|
4.493 |
4.345 |
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Loans & Advances
|
|
17.358 |
18.246 |
Total Current Assets
|
|
122.568 |
132.127 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
48.667 |
69.570 |
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Total Current Liabilities
|
|
48.667 |
69.570 |
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Net Current
Assets
|
|
73.901 |
62.557 |
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MISCELLANEOUS EXPENSES
|
|
7.302 |
7.332 |
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TOTAL
|
|
118.363 |
103.440 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
|
188.293 |
483.729 |
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|
|
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Profit/(Loss) Before Tax
|
|
0.154 |
4.581 |
Provision for Taxation
|
|
0.000 |
0.352 |
Profit/(Loss) After Tax
|
|
0.154 |
4.229 |
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|
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Export Value
|
|
53.617 |
6.812 |
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|
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Import Value
|
|
6.870 |
10.290 |
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Total Expenditure
|
|
248.934 |
505.060 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
|
0.08 |
0.87 |
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Net Profit Margin
(PBT/Sales) |
(%) |
|
0.09 |
1.00 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
|
0.10 |
2.77 |
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Return on Investment (ROI)
(PBT/Networth) |
|
|
0.00 |
0.08 |
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Debt Equity Ratio
(Total Liability/Networth) |
|
|
1.95 |
2.02 |
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|
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Current Ratio
(Current Asset/Current
Liability) |
|
|
2.52 |
1.90 |
LOCAL AGENCY FURTHER INFORMATION
Profile
We would like to introduce
ourselves as a leading manufacturer and supplier of Drilling equipment over two
decides such as blast hole drills, drilling rigs. We request to you spare the
valuable time to go through our profile They are sure that you will appreciate
our achievement. This was possible with the encouragement from valued customers
as well wishers like you.
KLR DTH / ROTARY DRILL RIG
Products
Overwhelming support from well wishers have established our products as leading
Market Brands under "UNIVERSAL" / KLR" and they strive
hard to keep our support reputation intact till date with the following
standards products.
Hydraulically Operated Drilling Rig
Modules with cap abilities of 4" to 14"dia Bore to a Drill
Depth of 2000 ft. For.
(a) DTH applications.
(b) DTH / ROTARY applications.
Core Drilling Equipment to a drill Depth of 100 mtrs.
Utility Series Drills
(Tractor Mounted )
(a) Core Drilling
(b) Blast Hole Drills
(c) Bore well / In well Drilling
(c) Drilling Rigs
Blast Hole Drills : In
Collaboration with Cubex Limited, Canada
DTH Hammers -
4" to 12" Valve & Valueless Models
DTH - T.C Button Bits -
4: to 24" Dia for all standard Hammers
Drill Roads / Tubes -
Dia 3" to 5 ½ "
Tractor Mounted Hydraulic
Drill
Blast Hole Drilling Rigs
Since inception in 1984, the turnover and profitability graph of the company
has registered a steady upward rise. Guiding the Company's destiny, with the
utmost dedication to quality, they have maintained high standards of excellence
over the past 2 decades, keeping briskly abreast with the latest state-of-art
technology.
Today, KLR is a major manufacturer, exporting to tough international
markets, relying solely on the technological strengths and expertise of its
personnel. Setting the pace for growth in this industry in India, they are
optimistic of our export prospects, with new units going on stream, to develop
customer specific products in an ever expanding range.
The Company has pioneered appreciable, research work for ensuring higher
product performance, all along maintaining a growth strategy that concentrates
on core competence. Inevitably. commitment shows in their inherent strength
that KLR builds towards global growth.
U-Dex KL
Button Bits & Hammers
They are proud to stand tall among 1500 plus units of heavy duty, Drilling Rigs
Working throughout India in water as well as in construction & mining
sectors. Diversification in construction & mining sector : After
establishing the stability of Quality and Quantity KLR
expended its actives in Mining and Construction application.
It’s
products range include :-
- Truck Mounted Drilling
Rigs
KLR
300 DTH
QKH
46
KLR
DTH
KLR-CDR
400
KLR
DR 100
KLR
400 Meters
- BackHoe Loaders
KLR-BL-400
KLR-Versatile-400
KLR-TC-400
U-Dex
KL
Button
Bits and Hammers
- Truck Mounted Drilling
Rigs
KLR
300 DTH/Rotary Drill Rig
KLR
DR 100 Rotary Drill Rig
KLR
400 Meters DTH/Rotary Drill Rig
KLR-CDR
400 Core Blast Hole Drill Rig
KLR
DTH Drill Rigs
It exports to USA, Canada,
Sweden, Ethiopia, Kenya, Uganda, Tanzania, Zambia, South Africa, Mauritius,
Bangladesh, Sri Lanka, Qatar and Korea.
Subject is a major
manufacturer, exporting to tough international markets, replying slowly on the
technological strengths and expertise of its personnel.
The
Company has pioneered appreciable, research work for ensuring higher product
performance, all along maintaining a growth strategy that concentrates on core
competence.
KLR INDUSTRIES - MINING AND DRILLING EQUIPMENT,
DRILLING RIGS AND DHT HAMMERS AND BITS
KLR Industries Limited was
incorporated in 1984. KLR Industries manufactures a wide range of mining and
drilling equipment, construction equipment, drilling rigs, waterwell drill
rigs, direct rotary rigs, DHT hammer and bits.
KLR drilling equipment is
designed using state-of-the-art technologies and is manufactured to suit
international standards of quality and precision. The company has been
accredited with ISO 9001:2000 certification.
TRUCK / SKID / TROLLEY MOUNTED BOREWELL DRILL RIGS
KLR offers truck-mounted
borewell drilling rigs capable of drilling through direct rotary or rotary /
DTH modes. These drilling rigs have bores of diameter 16in, 12in, 8in or 6in
and can drill up to 1,000m. KLR also provides a core-hole drilling feature with
drill hole diameter of 115mm. The different drilling equipment models offered
are:
KLR 300 DTH / rotary
drill rig - it has a drill hole
size of 10in and drills up to 984ft. The KLR 300 has a rotary head, which has a
maximum speed of 0rpm-100rpm.
KLR DR 100 rotary
drill rig - the KLR 100 has a
drill hole size of 10in and can drill up to 330ft.
KLR 400 meters DTH /
rotary drill rig - the KLR 400
has a drill hole size of 6.5in and drills up to 1,312ft.
KLR-CDR 400 core
blast hole drill rig - the KLR
CRD 400 drills up to a depth of 2,200ft.
QKH 46 blast hole
drill rig - the QKH 46 blast
hole drill rig has a drill hole size of 6in and drills up to 300ft.
KLR DTH drill rigs - the KLR DTH drill rigs have a drilling diameter of
6in-10in.
TRACTOR MOUNTED BLAST HOLE /
BOREWELL / COREHOLE DRILLING MACHINES
KLR provides hydraulically
operated tractor mounted rigs specially designed for fast and cost effective
drilling by air, mud or foam drilling methods. The tractor mounted drilling
rigs use hole hammers and bits, core barrel and tools, rotary tricone bits and
other conventional tools. The drilling rigs have bores of diameter 4.5in, 6in and
6.5in and can drill up to 500ft.
CRAWLER MOUNTED BLAST HOLE DRILLING RIGS
The crawler mounted blast
hole drilling rigs are suitable for mines, quarries and construction sites. It
is hydraulically operated and has a diesel engine on board. The crawler mounted
blast hole has an air compressor and is used for 6in depths.
KLR industries also undertake
custom built drilling equipment and machines. It designs, manufactures and
supplies these custom built special machinery on the basis of modular,
multipurpose design approach.
BACKHOE LOADERS
The two backhoe loader models
offered by KLR are:
KLR-BL-400 - KLR-BL-400 has a backhoe loader bucket capacity of
1m³ and an excavator bucket capacity of 0.3m³. The transmission is of
power-shuttle type with four forward and reverse speeds.
KLR-VERSATILE-400 - KLR-VERSATILE-400 is a hydrodynamic torque
converter with a separate clutch plate drive for forward and reverse gears. It
has a bucket capacity of 1m³.
BUTTON BITS AND
HAMMERS
KLR button bits and hammers
are manufactured from the best quality alloy steel. The button bits and hammers
are heat-treated and are fully process controlled.
U-DEX KL DRILLING AND CASING
The U-DEX KL drilling and
casing is the most advanced and high-tech model available for high proficiency
drilling operations. Its double-pinned pilot bit eliminates the risk of
loosening bits down the hoe. It has a button angle and enhanced diameter for
the reamer. This facility is available for uniform wear and load distribution
over the buttons. Internal driver reamer is available for optimum reaming. The
U-DEX KL system is available in 115mm / 152mm-165mm and 152mm-165mm / 215 mm
configurations to suit all conventional hammers.
KLR CORE / ROTARY DRILL RIG
KLR core rotary drill rigs
have a drilling depth of 150m and a maximum drilling torque of 250kg/m. It has
a drill engine with 149.6hp at 2,400rpm
Contact
KLR Industries Ltd.
An ISO 9001 Certified Company
Contact Person : Mr. K. Laxma Reddy / Ms. Geetha V. Nair
H. O & Factory : Survey No. 222/1, Cherlapally Road, ECIL Post
Hyderabad - 500 062, Andhra Pradesh INDIA
Ph. No. : (91) - (40) - 27126833 / 27121828,
Fax No. : (91) - (40) - 27120558
Mobile : : 09391072346
E-mail : :hyd1_klri@sancharnet.in
geetha@klruniversal.com
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 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.45.30 |
|
UK
Pound |
1 |
Rs.78.45 |
|
Euro |
1 |
Rs.54.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
TOTAL |
|
44 |
This score
serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors
and their relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational
size (10%)
RATING
|
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 |