MIRA
INFORM REPORT
|
Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
KLUBER LUBRICATION INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
3rd Floor, Silver Jubilee Block, 3rd Cross,
Mission Road, Bangalore-560027, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
18.02.1999 |
|
|
|
|
Com. Reg. No.: |
35009 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U23201KA1999PTC035009 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK06044D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCK2965L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is Dealing in Chemicals, Paper, Leather, Petroleum Products,
etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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/ Corporate Office : |
3rd Floor, Silver Jubilee Block, 3rd Cross,
Mission Road, Bangalore-560027, Karnataka, India |
|
Tel. No.: |
91-80-4124 0201 |
|
Fax No.: |
91-80-4124 0209 |
|
E-Mail : |
rakesh.nathwani@in.klueber.com,contact@oks-india.com, customerservice@in.klueber.com |
|
Website : |
|
|
|
|
|
Head Office : |
504-A Wing, Navbharat Estates, Zakaria Bunder Road, Sewri (West),
Maharashtra, India |
|
Tel. No.: |
91-22-4178580 |
|
Fax No.: |
91-22-4147319 |
|
|
|
|
Branches : |
Located at : v Kolkata v New Delhi |
DIRECTORS
|
Name : |
Mr. Niranjan Ajawani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Joerg M Grossmann |
|
Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Kluber Lubrication GMBH |
82596 |
|
Mr. Niranjan Ajwani |
9178 |
|
Mr. Hanno Dieter Wentzler |
4 |
|
Dr. Jorg Matthias Grossmann |
4 |
|
Total |
91782 |
BUSINESS DETAILS
|
Line of Business : |
Subject is Dealing in Chemicals, Paper, Leather, Petroleum Products,
etc. |
|
|
|
|
Products : |
v Grease v Oils v Spray v Speciality
Lubricants – Greases, Powders & Pastes, Bonded Coatings & Oils v Maintenance
Products – Aerosols v Corrosion
Protection Products |
GENERAL
INFORMATION
|
No. of Employees : |
About 25 |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR & Company Chartered Accountants |
|
Address : |
Maruthi Info-Tech, 11/1 and 12/1, East Wing, II Floor, Koramangala
Inner Ring Road, Bangalore-560071, Karnataka, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3212420 |
Equity Shares |
Rs.10/- each |
Rs.32.124
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
22.946 |
10.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
21.015 |
19.863 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
43.961 |
29.863 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
20.110 |
84.520 |
|
|
TOTAL BORROWING |
|
20.110 |
84.520 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
64.071 |
114.383 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
38.641 |
3.002 |
|
|
Capital work-in-progress |
|
0.520 |
0.013 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
2.708 |
0.510 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
81.450 |
48.354 |
|
|
Sundry Debtors |
|
29.852 |
3.270 |
|
|
Cash & Bank Balances |
|
9.005 |
9.508 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
17.156 |
90.972 |
|
Total
Current Assets |
|
137.463 |
152.104 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
101.843 |
34.717 |
|
|
Provisions |
|
13.418 |
6.529 |
|
Total
Current Liabilities |
|
115.261 |
41.246 |
|
|
Net Current Assets |
|
22.202 |
110.858 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
64.071 |
114.383 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.08 |
4.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.19 |
3.69 |
LOCAL AGENCY
FURTHER INFORMATION
Website Details :
A pioneer in the development of the High Performance Speciality Lubricants
market in India, Subject is a brand owned by the Munich based Freudenberg
Chemical Specialities Group and has an active technical collaboration with OKS
Spezialschmierstoffe GmbH, Germany, which is also a part of the FCS group
OKS Spezialschmierstoffe GmbH, is one of Germany’s leading manufacturers
of speciality lubricants and is reputed for the high quality of its products
and service.
Subject has a range of products designed to solve a wide range of
industrial problems in tribology (friction, wear, lubrication), corrosion
protection and maintenance.
Subject follows a unique and comprehensive systems approach to meet the
lubrication and corrosion protection needs. They will diagnose the problems and
recommend solutions that will result in significant cost savings.
Their products are manufactured at their modern factory located in
Mysore, which is ISO 9001, ISO 14001 and OHSAS 18001 certified. Spread over 10
acres, the factory is equipped with the latest machinery. The products
manufactured strictly adhere to the specifications laid down by their German
partners and are of international standards.
The product range itself encompasses:
v
Speciality Lubricants – Greases, Powders & Pastes, Bonded Coatings
& Oils
v
Maintenance Products – Aerosols
v
Corrosion Protection Products
Speciality Lubricants
Speciality Lubricants are used where high pressure, extreme
temperatures, very high speeds or other extraordinary stresses exceed the
performance limits of conventional lubricants.
Klüber Speciality Lubricants are custom designed to create synergy
effects – they not only reduce friction and wear but also increase performance
and service life of machinery.
Their speciality lubricants meet the unique needs like
v
Extreme range of temperatures from -40°C to +1100°C
v
Very high speeds, DN factor up to 1,000,000
v
High loads, shock loads
v
Operation under water / sea water
Product Categories
v
Bonded Coatings
v
Greases
v
Oils and Liquids
v
Powders and Pastes
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.86 |
|
UK Pound |
1 |
Rs.84.75 |
|
Euro |
1 |
Rs.57.71 |
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 |
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 |
|
45 |
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
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|