MIRA
INFORM REPORT
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Report Date : |
06.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
K V
FIRE CHEMICALS [INDIA] PRIVATE LIMITED |
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Registered Office : |
Kamala Niwas, 2nd Floor, Plot - 32,
Lane - D, Sector - 8, Vashi, Navi Mumbai - 400 703 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
29.09.1995 |
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Com. Reg. No.: |
11-93237 |
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CIN No.: [Company
Identification No.] |
U29193MH1995PTC093237 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK06338D |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturers,
Dealers, Exporters, Importers in fire fighting equipments, systems, fire
extinguishing chemicals, spare parts, hardwares, assemblies and allied
products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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
175000 |
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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 experience 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
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Registered Office / Sales Office : |
Kamala Niwas,
2nd Floor, Plot - 32, Lane - D, Sector - 8, Vashi, Navi Mumbai - 400 703, India
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Tel. No.: |
91-22- 27820827 / 3901 |
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Mobile No.: |
91-98203 42062 |
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Fax No.: |
91-22- 27824712 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr.
Hiralal M. Sabadra |
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Designation : |
Director
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Address : |
Plot
32, Lane – D, Kamala Niwas Sector – 8, Vashi, Navi Mumbai – 400703,
Maharashtra, India |
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Date of Birth/Age : |
19.09.1946 |
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Date of Appointment : |
29.09.1995 |
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Name : |
Mr.
Rajesh H. Sabadra |
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Designation : |
Director
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Address : |
Plot
32, Lane – D, Kamala Niwas Sector – 8, Vashi, Navi Mumbai – 400703,
Maharashtra, India |
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Date of Birth/Age : |
08.03.1969 |
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Date of Appointment : |
29.09.1995 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Hiralal M. Sabadra |
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100 |
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Mr.
Rajesh H. Sabadra |
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100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers,
Dealers, Exporters, Importers in fire fighting equipments, systems, fire
extinguishing chemicals, spare parts, hardwares, assemblies and allied
products. |
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Products : |
Protein Foam Fluoroprotein Foam High Expansion Foam Aqueous Film Foaming Foam Alcohol Resistant Foam Hazmat Foam Film Forming Fluoro Protein Foam UL Listed AFFF ABC - Mono Phosp Base BC - Sodium Bi Carb Base Potassium Bi
Carb Base OLFEX - Potassium Bi Carb / Urea Base TEC - Chlorides Base REFILLS :- Mechanical Foam - 9 / 50 / 150 Ltrs. EQUIPMENTS :- UGM - Monitors |
GENERAL
INFORMATION
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Customers : |
Type of Customer : Air Force, Army &
Navy Airports Authority of
India : Domestic & International Airports Chemical Tank
Terminals Refineries &
Pipeline Projects Oil Fields - Off
Shore & On Shore Gas Fields Port Trusts Power Plants -
Atomic, Hydro & Thermal Shipyards &
Shipping Companies Fertilizer Complexes Chemical Industries Fire Brigades Steel Plants, Mines
and Metallurgical Industries Original Equipment
Manufacturers ( OEM ) Project Consultants |
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Bankers : |
The
Saraswat Cooperative Bank Limited Nashik
Branch, Sharanpur Road, Nashik-422001, Maharashtra, India |
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Banking Relations : |
Satisfactory
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Auditors : |
P.K.
Kumar and Company Chartered
Accountants 105,
Mathura Palace, Plot No. 449, 1st Floor, Behind Kisan Vidyut,
Vakilwadi, Nasik – 422001, Maharashtra, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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20.000 |
20.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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23.823 |
11.060 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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43.823 |
31.060 |
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LOAN FUNDS |
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1] Secured Loans |
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7.082 |
4.022 |
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2] Unsecured Loans |
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8.947 |
9.201 |
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TOTAL BORROWING |
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16.029 |
13.223 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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59.852 |
44.283 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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25.313 |
24.515 |
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INVESTMENT |
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0.013 |
0.013 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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17.311 |
12.220 |
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Sundry Debtors |
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24.830 |
21.748 |
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Cash & Bank Balances |
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20.117 |
9.900 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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8.230 |
4.002 |
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Total Current Assets |
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70.488 |
47.870 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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27.853 |
24.442 |
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Provisions |
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8.160 |
3.733 |
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Total Current Liabilities |
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36.013 |
28.175 |
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Net Current Assets |
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34.475 |
19.695 |
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MISCELLANEOUS EXPENSES |
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0.051 |
0.060 |
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TOTAL |
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59.852 |
44.283 |
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KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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1.19 |
1.33 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.96 |
1.70 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
K V FIRE CHEMICALS [INDIA] PRIVATE LIMITED |
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Presented By |
Mr. H. M. Sabadra |
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1) Date and description of instrument creating the change |
Agreement
for Bank Guarantee Limit dated 15.10.1999 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.500 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
movable property, Book Debts, etc. and more particularly as shown in detail
as per above referred agreement dated 15.10.1999. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per
the above referred agreement dated 15.10.1999 |
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5) Name and Address and description of the person entitled to the charge. |
The
Saraswat Cooperative Bank Limited Nasik
Branch, Nasik |
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6) Date and brief description of instrument modifying the charge |
Agreement
to further charge dated 29.03.2004 and supplemental agreement of further
charge dated 29.03.2004 |
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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. |
On
14.03.2001 charge modified and enhanced from Rs. 1.500 Millions to Rs. 2.500
Millions [Filed on 12.04.2001 and registered at Sr. No. 22 dated 19.04.2001] By
this modification Bank Guarantee limit enhanced from Rs. 2.500 Millions to
Rs. 7.500 Millions [Addition of Rs. 5.000 Millions] |
AS PER WEBSITE
Company
Profile :-
K.V. Fire Chemicals came
into existence in 1988. From a small beginning of 19 lakhs turnover in 1991
reached 600 lakhs turnover in year 2001-01.
Largest Plant Area 2,00,000
Sq.ft. built up as under.
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Administration |
1250 |
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Laboratories |
1250 |
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Foam Plant |
3600 |
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Powder Plant |
4500 |
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Test Ground |
10000 |
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Residence |
5500 |
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Garden |
10000 |
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Total |
36000 Sq.ft. |
Test facilities as per
various National & International Standards like, ISI, ISO, UL, US
MIL, DIN, ICAO etc. exists. Professional organization managed by highly
qualified and dedicated personnel handling each activity professionally and
independently.
ENTREPRENEUR'S BACKGROUND :-
Mr. H.M. Sabadra Managing
Director is a Chemical Engineer from UDCT Mumbai.He has 3 decades of
experience in the field of fire protection. Last 12 years, he is working
exclusively, devoted in developing manufacturing and supplying fire fighting
chemicals.
He is a recipient of Udyog Ratan Award at the hands of the President of India
Shri Zali Singh. He has travelled very widely to USA, Europe, Africa, Asian Countries
to study the manufacturing, testing and R & D facilities of the fire
Industries. He has built up rapport with many leading scientists all over
the world for technology development. He is a member of Technical Committee of
Indian Standards responsible for drafting Indian Standards since last 25
years.
He has served as a Honorary Secretary of Fire Equipment Manufacturer's
Association for nearly a decade.
He, besides being a
successful industrialist, is a man of many interests, like Music, Poetry &
Literature.
He heads Navi Mumbai Jain Community with very active participation social and
religious activities.
VISION & MISSION
STATEMENTS :-
VISION
The Vision of K.V. Fire
Chemicals is " To be one of the world leader in manufacture of
highest quality fire extinguishing chemicals, both Powders and
Foams."
Mission
To obtain
UL listing of all types of foams.
To obtain UL listing of powders.
To create customers awareness about importance of product quality by education
and training.
To export the products.
To achieve ISO-14000 norms.
To obtain Products approvals as per European, U.K. Defence Standards and other
International Standard.
LEADERSHIP STATEMENT :-
They are leader with respect
to :
|
Factory Area |
2,00,000 Sq.ft. |
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Foam Production |
25,00,000 Ltr / year |
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Powder Production |
1800 MT / Year |
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Product Range |
Largest and versatile |
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Powders |
5 Types |
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Foams |
6 Types |
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Testing Facilities |
Largest 10,000 sq.ft. |
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Sales Network |
Widest covering entire
India |
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Emergency Service |
Supply of 100 MT of Fire
chemicals off the shelf delievery. |
Leadership is proved by :-
Single largest order of 259
MT Dry Chemical Powder from Army Headquarters and repeat order of 59 MT.
Air Headquarters order for 1,29,350 Ltrs of AFFF and repeat of
1,01,200 Ltrs. Single largest order for AFFF in history of India, for 2,87,000
Ltrs valued at Rs. 16.700 Millions from BPCL. Only company to have Annual
Rate Contract with Airports Authority of India continuously since last 3
years servicing all National Airports.
ALWAYS THE FIRST :-
To obtain
ISI Licence for SBC powder in India first under Reliable
brand and then Under Quality brand.
To obtain Foam Compatibility endorsement.
To obtain ISI Licence for Potassium Bicarbonate base Powder.
To obtain Mono Ammonium Phosphate base endorsement.
To obtain ISI Licence for ABC powder.
To obtain ISI Licence for Fluoro Protein Foam.
To obtain ISO-9002 accreditation for both powder & foam manufacturing.
TESTED AND CERTIFIED BY :-
BIS ( ISI MARKED )
Under Writer's Laboratory (
UL )
Centre for Env. and Explosive
Safety ( DIFR )
Lloyds Register of Shipping
Limited
Det Norske Veritas (
DNV ), Mumbai
Bureau Veritas, Mumbai
Engineers India Limited,
Mumbai.
Superintendence Co. of India
(Private) Limited, Mumbai.
Projects Development India
Private Limited ( PDIL ) Delhi.
Gujarat Industrial Research
and Development Agency ( GIRDA ), Baroda
Nuclear Power Corporation
of India Limited Mumbai.
Rail India Technical and
Economic Service Limited ( RITES ) Mumbai
System Engineers &
Advisory Services Pune Private Limited, Pune
National Test House, Mumbai,
Kolkata
Exclusive Marketing Helpline – 91-22 -
2782 67 33
Works : 91- 2553 -
231063
Fax : 91-2553-231062
MOBILE : 91-98220 52119
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.44.09 |
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UK
Pound |
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.57.21 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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