%20PRIVATE%20LIMITED%2024-Jul-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
K. TECH ( |
|
|
|
|
Registered Office : |
7B, Bata
Compound, Khopat, Eastern |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
18.01.2000 |
|
|
|
|
Com. Reg. No.: |
11-123695 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24222MH2000PTC123695 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK05006B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCK6341G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers and Exporters of
Paints & Coating Additives, Ink Additives, Polymer & Rubber
Additives, Allied Industry Additives, Textile Chemicals, Leather Chemicals,
Paper Chemicals, Pigment Synergists & Additives, Process Industry
Chemicals. |
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 20000 |
|
|
|
|
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 Office / Factory : |
7B, Bata
Compound, Khopat, Eastern |
|
Tel. No.: |
91-22-25476486 / 96 |
|
Mobile No.: |
91-9820082351 |
|
Fax No.: |
91-22-25476794 / 25476496 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales & Logistics: |
201, Jai Commercial Complex, Khopat, Eastern |
|
Tel. No.: |
91-22-2534 3039 / 2536 1228 |
|
Fax No.: |
91-22-2538 1587 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Kiran Srivastava |
|
Designation : |
Director |
|
Address : |
Kiran Shree D – 4, Neel Shilp Housing Society, Kalher, Bhiwandi, Thane
– 421302, Maharashtra, India |
|
Date of Birth/Age : |
06.05.1958 |
|
Date of Appointment : |
18.01.2000 |
|
Election Commission Identity Card No. : |
MT100540543130 |
|
|
|
|
Name : |
Mr. Subhash C Srivastava |
|
Designation : |
Director |
|
Address : |
Kiran Shree D – 4, Neel Shilp Housing Society, Kalher, Bhiwandi, Thane
– 421302, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1966 |
|
Date of Appointment : |
01.10.2001 |
|
Election Commission Identity Card No. : |
MT100540543129 |
|
|
|
|
Name : |
Mr. Shobhit Srivastava |
|
Designation : |
Director |
|
Address : |
Kiran Shree D – 4, Neel Shilp Housing Society, Kalher, Bhiwandi, Thane
– 421302, Maharashtra, India |
|
Date of Birth/Age : |
07.04.1983 |
|
Date of Appointment : |
01.10.2003 |
SHAREHOLDING PATTERN
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors of relatives of directors |
|
95.00 |
|
Other |
|
5.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of
Paints & Coating Additives, Ink Additives, Polymer & Rubber
Additives, Allied Industry Additives, Textile Chemicals, Leather Chemicals,
Paper Chemicals, Pigment Synergists & Additives, Process Industry
Chemicals. |
GENERAL INFORMATION
|
Bankers : |
Khopat Branch, Thane [West]
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Swadesh Chandra Srivastava Chartered Accountants |
|
Address : |
112/206-A, Swaroop Nagar, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
450,000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.500
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 |
|
4.003 |
2.554 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1.111 |
0.943 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
5.114 |
3.497 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.311 |
0.719 |
|
|
2] Unsecured Loans |
|
1.715 |
1.751 |
|
|
TOTAL BORROWING |
|
2.026 |
2.470 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
7.140 |
5.967 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3.014 |
3.250 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.068 |
0.068 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.645 |
0.513 |
|
|
Sundry Debtors |
|
11.084 |
9.076 |
|
|
Cash & Bank Balances |
|
1.432 |
0.381 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.139 |
0.767 |
|
Total
Current Assets |
|
14.300 |
10.737 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
10.242 |
8.088 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
10.242 |
8.088 |
|
|
Net Current Assets |
|
4.058 |
2.649 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
7.140 |
5.967 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover [Estimated] |
|
6.000 |
4.000 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.40 |
3.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.40 |
1.33 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges Report as per Registry
|
Name of the company |
K. TECH ( |
|
Presented By |
Mr. Subhash C
Srivastava [Director] |
|
Date and description of instrument creating the change |
Agreement of
Hypothecation – Vehicles dated 20.12.2002 |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.739
Millions [Vehicle Loan] |
|
Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
12 % p.a. of such other rate as may be decided by the Bank with monthly rests
Repayable on 60 quoted
monthly installments of Rs. 0.016 Millions Charge to cover
all outstanding sums, interests, costs and charges payable by the company to
the Bank. |
|
Name and Address and description of the person entitled to the charge. |
The Thane Janata
Sahakari Bank Limited Khopat Branch Thane [West] |
|
Date and brief description of instrument modifying the charge |
NA |
|
Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
AS PER WEBSITE
They are dynamic, focused and rapidly emerging medium sized
professionally managed non aligned company, with core competencies in speciality
chemicals and speciality coating additives. They believe that howsoever small
their products may be, they act as a vital bridge leading to a great success
for customers in terms of their excellence in technology and business. They are
a responsible care company and concerned with the well being of customers,
suppliers, employees, society and stakeholders.
Mission & Vision
"We shall untiringly commit ourselves through
sustainable, eco-friendly and development attempts to continously improve our additive
products and services, in order to be a very reliable customer-oriented
supplier of coating additives to the printing inks, polymer rubber, paints and
coating world. Our core competencies shall be coating additives for industry
specific applications."
Business Philosophy:
As guided by their parent group, the fundamental on-going
philosophy of their being in business by four prime movers:
Conviction
: In innovation and creativity
Responsibility : Towards their customers, suppliers, employees and society
Integrity : In relationships
Commitment : Towards their vision and mission
Features
Salient
Features of K. Tech:
1. World-class consistent quality
2. Proven high-performance grades
3. Reliability of products
4. Prompt delivery - ex stocks
5. Competitive prices
6. Customized products for discerning needs
7. Smaller trial packs
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.24 |
|
|
1 |
Rs.83.04 |
|
Euro |
1 |
Rs.55.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|