MIRA INFORM
REPORT
|
Report
Date: |
09.05.2007 |
IDENTIFICATION DETAILS
|
Name: |
SILVASSA PLAST |
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Registered
Office : |
98/1, village- Silli, Silli- Jamal Pada Road,
Silvassa-396230, Union Territory of Dadra & Nagar Haveli India. |
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Date
of Incorporation : |
1998 |
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Legal
Form : |
Partnership Concern with an Unlimited Liability of the
Partners. |
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Line
of Business: |
Manufacture and |
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
100000 |
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Status
: |
Satisfactory |
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Payment
Behavior: |
Usually
Correct |
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Litigation
: |
Clear |
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Comments
: |
Subject is a well-established and reputed concern and a
part of RLJ group, a small group in northern Partners 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 concern can be considered normal for business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office: |
98/1, village- Silli, Silli- Jamal Pada Road,
Silvassa-396230, Union Territory of Dadra & Nagar Haveli India |
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Tele-
Fax: |
91-260-2993151
To 2993154 |
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E-Mail
: |
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Website
: |
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Area : |
5000 sq. ft |
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Location : |
Leased |
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Head
Office: |
KLJ House, 63, Rama
Marg ( |
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Tel.
No.: |
91-11-25415823, 91-11-25442790, 91-11-25459706/
25459707/544 |
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Fax
No.: |
91-11-25459709. 91-11-25436204. |
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E-Mail: |
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Factory
1: |
98/1, village- Silli, Silli- Jamal Pada Road,
Silvassa-396230, Union Territory of Dadra & Nagar Haveli India. |
|
Tel.
No.: |
91-260-2993151
To 2993154 |
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E-Mail
: |
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Area: |
120000 sq ft. 4 Floors |
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Location: |
Leased |
PARTNERS
|
Name : |
Mr. K. L. Jain |
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Designation
: |
Group Chairman & Managing Partner |
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Name : |
Mr. Hemant Jain |
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Designation:
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Partner |
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Name: |
Mr. Vimal Khurana |
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Designation:
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Partner |
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Name: |
Mr. Rishabh Jain |
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Designation
: |
Partner |
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Name : |
Mr. Pushp Jain |
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Designation
: |
Partner |
KEY
EXECUTIVES
|
Name : |
Mr. R. B. Sharma |
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Designation
: |
Manager- Works |
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|
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Name : |
Mr. Hemant Jain |
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Designation
: |
Chief Executive
Officer- Head Office |
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BUSINESS
DETAILS
|
Line
of Business : |
Manufacture and Installed Capacity: 30000 TPA. Actual Production: 25000 TPA |
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Imports
from : |
Raw material from reputed manufacture. from & Aboard. |
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Terms
: |
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Selling : |
Cash & Credit up to: 60 - Days Max. |
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Purchasing : |
L/C., Cash & Credit up to: 45-Days Max. |
GENERAL
INFORMATION
|
Suppliers: |
MAJOR LOCAL SUPPLIER: [FOR GROUP COMPANYS] SAI – TREAT. Anandi Specialities & Services Factory & Register Office. Plot No.: 9 Ambika Udyog, Pin-401404. Tel.: 02525-241147/ 240798/ 240044. Fax: 02525-240010. Email: saitreat@vsnl.net GALAXY SCIENTIFIC EQUIPMENTS Galaxy” laboratory over head stirrers/ lab testing eqmts sold: Gala no- 6, Bhart Vaze Estate, Mhatre Compound Behind Lalit Kata,
Kayan- Still Road, Manpada, Dombivli (east)- 421204, Tauka – Kayan, Dist-
Thane, Maharashtra, India Tel.: 91-251-2870744/ 2870061 Telefax: 91-251-2870744/ 2870061
E-mail: galaxy tames@vsnl.net Ferricon Equipments ( H-1& 2, Site –c, Surajpur Grater Noida, G. B. Nagar, U. P. –201306
( Phone: 91-120-2560879/ 2569670 Fax: 91-120- 2569796/ 2569221 Email: swami@ferricon.net, Contract: Mr. U. K. Swami Mobile No: 9810072653 Contract: Prabhakar Chaudhary Mobile No: 9810004332 |
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No. of Employees : |
25 People in this office, and about 400. people at work. The Group Employs about 1500 persons |
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Bankers : |
State Bank of Commercial Branch, Narayani, |
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Bankers: |
v State Bank of v Dena Bank, New Delhi-110028 |
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Banking Relations : |
Satisfactory |
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Associates/Subsidiaries
: |
v KLJ Polymers & Chemicals
Limited v KLJ Organic Limited v KLJ Plasticizers. v KLJ Poly Alloys. v KLJ Polymers & Chemicals
Limited v KLJ Compoundings v KLJ Kundalia Industries. v Vimal Plasticizers Private Limited
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CAPITAL
STRUCTURE
|
Capital
Investment: |
|
|
Owned : |
25.000 Millions |
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Borrowed : |
- |
|
Total : |
25.000 Millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
|
Particulars |
31.03.2005 |
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Sales
Turnover |
200.000 |
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LOCAL
AGENCY FURTHER INFORMATION
Applications
- Footwear
- Cable
& flexible Pvc Films
- Leather
Cloth
- Vinyl
Equipments
- Non-
toxic food containers
- Adhesives
- Perfumes
- Automobile
Parts
- Rubber
Belts
- Tubes
Group Profile:
The pioneering vision of its Founder Chairman Mr. K.L. Jain,
who way back in 1969, identified. Petrochemicals and Plastics as the thrust
area of the future. From humble beginnings, this dynamic visionary has created
a multi- location, Rs. 1000 millions modern industrial complex, that boosts of
world class and state of the art technology. The group has an annual sales
revenue in excess of Rs. 1750 millions.
Besides industrial growth the group also focused its
attention towards society and has made significant contribution in the field of
education, health care, sports, anuvrat and aspects of humanity, for the
welfare of the society.
The Growth
IN 1967: Kundalia Industries made a modest beginning from a small shop
to a PVC compounding unit in 1969 in
IN 1985: Kundalia Industries diversified & commenced manufacture of
phthalate plasticizers like DOP, DBP, etc in
IN 1990: KLJ Polymers & Chemicals Limited. Commenced manufacture of
phthalate plasticizers in
IN 1993: The group expended its
manufacturing capacity of plasticizers upto 15000 MT and attained leadership
position in
IN 1994: Vimal Plasticizers Private Limited Commenced manufacture of Di- Ethyl
phthalate in Noida.
IN 1997: Klj Organic Limited. Set up a state –of- the artplantto
manufacture Chlorinated Paraffin at Jhagadia, Bharuch District,
IN 1997: KLJ Plasticizers, started manufacture of phthaiate
plasticizers in Siivassa (U.T. of D & NH). This is one of the largest
plants for manufacture of plasticizers in
IN 1998: The largest plasticizer plant
with an installed capacity of 25000.tpa. Was commissioned by Silvassa Plast.
This plant can manufacture all types of plasticizers. With this expansion, the
group has attained total capacity of over 55000. Tpa, and has emerged as an
international player.
IN 1998: KLJ Polalloys a new concern, commenced manufacture of PVC &
TPR Compounds at silvasdsa. It has an installed capacity of 72000 tpa. With
this, the total capacity reached in excess of 13000 tpa.
Philosophy
Safety &
Environment
The Group is deeply concerned to preserve the preserve the
ecology of environment. It is as much committed to protecting the environment,
as it is the health and safety of its employees. Each work station is equipped
with safety devices and the workers are trained to make liberal use to them.
All the units are maintaining zero discharge status as per pollution norms
Employee Relationship
The KLJ Group is one large family of about400 personnel.
This workforce is the backbone of the group, who have been rendering services selflessly
and tirelessly. The management of the group in appreciation of the valuable
contribution made by this employees has structured a healthy work environment
with the most modern amenities for this people.
A Socially Committed
Group
In consonance with the modern philosophy KLJ Group has also
committed itself to the welfare of the society as a whole. It provide an
environment where opportunities exist for individual development as well as
development of the group. The group chairman, Mr. K. L. Jain takes special
interest and personal care to contribute liberally in the fields of education,
health care, sports, human values, etc.
The Group has established sumermal Jain public in
The Partners are experienced and qualified, Financially
Sound, Enjoys Better credit and reputation in the market.
Subject seems to be progressive.
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.40.91 |
|
|
1 |
Rs.81.46 |
|
Euro |
1 |
Rs.55.42 |
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 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
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--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT
ACTIVITIES |
YES/NO |
NO |
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--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
|
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 |