MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
KIMBERLITE CHEMICALS INDIA PRIVATE LIMITED |
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Registered Office : |
No.46, Kaveri Layout, Near St. James Church, Marianapalya,
Desarahalli, Hebbal Agriculture Farm Post, Bangalore-560024, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.03.2005 |
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Com. Reg. No.: |
08-35922 |
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CIN No.: [Company
Identification No.] |
U24117KA2005PTC035922 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK07068F |
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PAN No.: [Permanent
Account No.] |
AACCK5623N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Chemical Products |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavtheirable & favtheirable factors carry similar weight in
credit consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
USD 2000 |
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Status : |
Small Company |
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Payment Behavitheir : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track
records. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
No.46, Kaveri Layout, Near St. James Church, Marianapalya,
Desarahalli, Hebbal Agriculture Farm Post, Bangalore-560024, Karnataka, India |
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Tel. No.: |
91-80-23434441/ 23637340 |
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Fax No.: |
91-80-23331863 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Ashish Rathore |
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Designation : |
Director |
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Address : |
No.46, Kaveri Layout, Near St. James Church, Marianapalya,
Desarahalli, Hebbal Agriculture Farm Post, Bangalore-560024, Karnataka, India |
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Date of Birth/Age : |
28.03.2005 |
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Name : |
Mr. Sundar L Rathore |
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Designation : |
Director |
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Address : |
No.46, Kaveri Layout, Near St. James Church, Marianapalya,
Desarahalli, Hebbal Agriculture Farm Post, Bangalore-560024, Karnataka, India |
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Date of Birth/Age : |
28.03.2005 |
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Name : |
Ms. Shivani Rathore |
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Designation : |
Director |
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Address : |
No.46, Kaveri Layout, Near St. James Church, Marianapalya,
Desarahalli, Hebbal Agriculture Farm Post, Bangalore-560024, Karnataka, India |
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Date of Birth/Age : |
28.03.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
All the shares are held by the Directors and
their relatives.
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Chemical Products |
GENERAL
INFORMATION
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No. of Employees : |
About 10 |
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Bankers : |
Syndicate Bank, Kempapura Main Road, Marianapalya, Bangalore-560024,
Karnataka, India Account No.: 482-12500000046 ICICI Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sangeetha Lakshmi And Company Chartered Accountants |
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Address : |
Kamanahalli, Bangalore-560083, Karnataka, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs.10/- each |
Rs.0.200
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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STHEIRCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.200 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.310 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.510 |
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LOAN FUNDS |
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1] Secured Loans |
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1.009 |
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2] Unsecured Loans |
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1.792 |
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TOTAL BORROWING |
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2.801 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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3.311 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.536 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.551 |
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Sundry Debtors |
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1.356 |
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Cash & Bank Balances |
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0.017 |
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Other Current Assets |
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0.161 |
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Loans & Advances |
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0.344 |
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Total
Current Assets |
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3.429 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.463 |
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Provisions |
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0.191 |
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Total
Current Liabilities |
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1.654 |
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Net Current Assets |
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1.775 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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3.311 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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7.715 |
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Other Income |
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0.010 |
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Total Income |
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7.725 |
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Profit/(Loss) Before Tax |
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0.480 |
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Provision for Taxation |
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0.170 |
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Profit/(Loss) After Tax |
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0.310 |
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Total Earnings |
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2.322 |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
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7.336 |
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Total Expenditure |
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7.736 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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PAT / Total Income |
(%) |
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4.01 |
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Net Profit Margin (PBT/Sales) |
(%) |
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6.22 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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9.67 |
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Return on Investment (ROI) (PBT/Networth) |
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0.94 |
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Debt Equity Ratio (Total Liability/Networth) |
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8.73 |
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Current Ratio (Current Asset/Current Liability) |
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2.07 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
KIMBERLITE CHEMICALS PRIVATE LIMITED |
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Presented By |
Mr.
Ashish Rathore, Director |
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1) Date and description of instrument creating the change |
07.12.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.700 millions |
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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 |
All the goods, raw materials, finished goods, unfinished goods, movable property of any kind, plant and machinery, fixtures, implements, fittings and other installations, furniture, vehicle, computers and all other articles or things both present and future whether installed or not, whether laying loose or in cases, at site or in transit which may at any time hereafter during the continuance of this security be installed or laying loose or in cases being in or upon which be or hereinafter from time to time during this security shall be brought into stores be in or about the borrowers factory at No.115, 3rd Phase, Malur Industrial Area, Kolar and at No.46, Kaveri Layout, Dasarahalli, Bangalore. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest Rate 12% per annum being 1% above the PTLR. |
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5) Name and Address and description of the person entitled to the charge. |
The Syndicate Bank Bangalore |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
Website Details :
Subject, renowned names in the new era for the latest
technology product and world class service in the field of specialty chemicals
and coatings.
Their aim to realize and fulfill the needs of industries in
the following categories:
v Water
Treatment
v Sugar
Process Chemicals
v Specialty
Chemicals for various process
v Industrial
coatings
The Company was started in 1997 by technocrats having
intensive business background, which balances the cutting edge understanding of
technology with broad experience in Management. Like every natural solution it
happened with a good reason, to cater the industrial water treatment needs and
other process related needs in the industrial world. That had an unlimited
demand and scope, which remained unserved. They realised the need of their
industry on time and resolutioned to serve with full commitment to make their
customers 100% satisfied with their product and service. Kimberlite
specialty chemicals are developed to anticipate and meet customers changing
needs, now and into future also. They started the venture in guidance of
technical qualified people have done Doctorate, in the respective field and
also having decades of experience.
Kimberlite
realizes the responsibility to cater the industrial needs to improve and update
its methods and techniques constantly to meet the diverse demand.
The starting days case to case studies were undertaken with
new generic products to optimize results by improving, modifying and updating
techniques to meet the diverse needs of each case.
They achieved success by performing beyond customers`
exception in some prestigious industries in Southern parts of India. These
successes laid the foundation for their growth in industries.
Kimberlite works
with industry countrywide providing advanced chemical technology and intensive
technical service to help solve complex industrial problems with all
sophisticated techniques and methods. They stand aloft by their unique and
unmatchable service provided for on time delivery and after sales service.
THEIR STRENGTH
At Kimberlite, they believe their customers are their strength and
their people as their most valuable asset. They respect, stimulate and develop
the potential of their people.
Kimberlite,
today, backed by highly qualified and efficient Technical & Marketing team,
whose constant efforts, help Kimberlite to achieve its goal in each and every stage of the
Company to growth.
MARKET RESEARCH
At Kimberlite, they have an efficient team to recognize the
critical importance of information resources. They update themselves with the help
of the Market Research Team about the changing customer wants, new competitors
initiatives, changing distribution channels, advertisements and other pertinent
development in the Market Scenario. They equipped with modern information
technology to access the market all around the world.
TELE-MARKETING
A well-trained team of Tele-marketing executives are there
to explore the new business opportunities across the country. This provides
them a shortcut to trace out the demand in the market.
QUALITY CONTROL
Quality Control Division, ensures production of quality
chemicals as per formulation specification. The stringent Quality Control
Measures incorporated in the manufacturing process ensures the customers give
total value for their investment.
OEM
They have separate Marketing Division for OEM Customers
across the country. They manufacture tailor-made products for their OEM
customers based on their specifications and requirements.
LOCATION OF COMPANY
Their Corporate office is located in Bangalore, one of the
well-known Industrial Town in the World. Their works few miles away from
Bangalore on the North side.
They extended their service with their dealer network and
business associates across the country to reach each and every customers.
Product
WATER TREATMENT CHEMICALS
They offer wide range of synthetic organic coagulants and non
ionic, anionic and cationic polyacrylamide (PAM) based water soluble polymers
that are available in a wide range of charge densities and molecular rate
weights.
Their product offering begins with complete line of polymers designed to
address the broad range of needs for economical and efficient liquid / solid
separation processes. These polymers are available to enhance clarification,
thickening, floatation, filtration and settling in a variety of industries -
including municipal and industrial water, waste water treatment, sugar, pulp
and paper, mining and more. Their cutting edge approach to polymer use and
development of customized polymers allows their clients to achieve superior,
cost effective results that will consistently meet or exceed their performance
goals
BOILER WATER TREATMENT CHEMICALS
They help the System operate efficiently and effectively
with a wide range of products. Their products are specially designed for all
temperature and pressure range. Wide range of products with very low dosage
right form Oxygen scavengers, sludge conditioners, filming amines, multipurpose
boiler water treatment chemicals, Scale cum corrosion inhibitors, deposit
controllers to Online descaling compounds to ensure the smooth operations
without the stoppage with the Tacelene chem series of products for Boiler Water
Treatment .
Cooling Water Treatment program is carefully designed for the
effective operation avoiding the common problems like, deposition, fouling,
microbiological growth and corrosion.
A range of Tacelene Chem speciality chemically, having the
best posiible types of dispersants, algaecides, and general biocides, deposit controllers,
corrosion inhibitors, biodispersants, penetrants etc. which safeguard from any
kind of water borne problems in the system.
Synergised treatment of biocides for all kinds of
microbiological growth in the system ensures the maximum efficiency in all
working condition. These biocides are approved for Non-toxicity and non-lethal
to their biosphere.
Closed loop inhibitors (coolant) for the cooling systems.
Huge demand in the field of Reverse Osmosis plant - membrane
antiscalant, opened an abundant opportunity for their RO Antiscalant. Today,
they stand with the best RO Antiscalant available in the World market, in very
economic price range and low dosage ranges.
Hi - performance Anti foam specially developed for any
process where foam is copious.
TESTKITS
Test-kits are made for the customer's convenience for the
accurate and precise easy analysis and interpretation of water quality, on-site
evaluation of any water treatment program.
For the sugar industry, the experienced Kimberlite team is
continuing to meet an entire spectrum of processing needs worldwide. Special biocides
are effectively eliminating bacterial growth and assuring proper mill
sanitation, while a variety of their specifically designed polymers, optimize
the juice and syrup clarification processes. Their products are answering the
call for better crystallization less surface tension in vaccum fans and a more
effective way to fight scale built up in the evaporators and that's just the
beginning. With experts in every area of the industry, Kimberlite serves as a
"One Stop" restheirce for helpful guidance and rapid product
delivery. As a result, Customers stay ahead of competition by raising quality
levels of sugar, lowering supply cost, increasing high volumes of productivity
and improving overall efficiency in the sugar mill.
Having various ranges of biocides-dithio carbamates, Quats,
etc., having high molecular weights flocculants for speedy clarification at
juice clarifier, One of the best scale inhibitor in the world with very low
dosage having sequestration value of 300 mg on CACO3 & inhibition value
morethan 4000 ppm of calcium in solution. As an alternate to refine sugar,
Kimberlite's high performing colour precipitant unables mills to produce VLC
(Very Low Coour) sugar. Through this technology, the mills are able to obtain
better prices for the sugar.
Paper Within the pulp and paper industries, successful operation involve,
wet-end chemistry, process water clarification, defoamer technologies and
modern influent/effluent treatments. Kimberlite's unique insights and
specialized chemicals help people address these areas, so paper mills are able
to create better quality products. Their wet strength and dry strength
additives allow mills to produce stronger paper while de-inking aids optimize
recycling and improve overall yield. Their product lines include retention and
strength aids, biocides, deposit controller, defoamers, de-inking chemicals,
polymers and more. To assure the best and the most cost effective solution,
possible, their paper technology experts examine each individual operation before
recommending the right product.
SPECILITY CHEMICALS FOR VARIOUS PROCESS INDUSTRY
They cater service to other industries like
v Textiles
v Pharma,
Foods & Distillers
v Cosmetics
v Hotels
v Dairies,
Mining, Granites, Automobiles and Engineering
INDUSTRIAL MAINTENANCE COATINGS
Their Coating Division provide service to the industries
with unique and the best quality produced for all Industrial maintenance and
protections application. Their latest paint technology development coupled with
many years of experience in the Coating field makes them one of the best
Companies in the Coating Industry. Their product range includes epoxy,
polyurethanes, liquid poly-sulphide, chlorinated rubber, silicone and ceramic
coating for all kinds of industrial application. Their strategy is to give
solution for their customers in more economic and efficient way with quality
product and service. Their customer-oriented approach in this field make them
unique in this field.
At Kimberlite, they provide the answers to the speciality chemical
needs with a multi lingual staff and representatives strategically located in
India, their team is comitted to helping you find the solutions and deliver
optimum value and performance to the specific applications.
They take the time to listen to their customers, and utilise
the most innovative restheirces available to offer tailor-made, quality
solutions-from formulating new products to orchestrating the fastest and most
cost effective way to ship each order.
Whether the product needs are in water treatment, sugar
processing, paper, coatings or many other areas, Kimberlite answers the call
for superior service best-in-class products.
Their local representatives, distributors and technical
teams assure customers of accurate "hands-on" supports-including
onsite service and system analysis.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheirces
including but not limited to: The Ctheirts, 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] Ctheirt 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 :
Their
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.
Their 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.43.59 |
|
UK Pound |
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.58.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavtheirable 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 |
Unfavtheirable & favtheirable 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|