MIRA
INFORM REPORT
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Report Date : |
09.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
COLD KRAFT TECHNOLOGIES |
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Registered Office : |
1/37 A, 1st Cross Street, School Road, Secretariat Colony,
Ambattur, Chennai 600053, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Partnership concern with an unlimited liability of the Partners |
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Line of Business : |
Exporter, Importer and Dealer of cooling and preservation solutions. |
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 80000 |
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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 concern having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as usually correct
and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Boopathy |
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Designation : |
Manager |
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Contact No.: |
91-9940044663 |
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Date : |
05.02.2008 |
LOCATIONS
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Registered Office/Factory : |
1/37 A, 1st Cross Street, School Road, Secretariat Colony,
Ambattur, Chennai 600053, Tamilnadu, India |
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Tel. No.: |
91-44-26574530 |
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Mobile No.: |
91-9840463274 / 9940044663 |
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Telefax No.: |
91-44-26574530 |
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E-Mail : |
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Website : |
PARTNERS
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Name : |
Mr. Selvan Tamil and other members of his family |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Exporter, Importer and Dealer of cooling and preservation solutions. |
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Products : |
Ø Refrigeration Ø Cold Storage Ø Ammonia
Refrigeration Systems Ø Super Market
Refrigeration Ø Storage
racking/material handling Ø Refrigerated
warehouses Ø Blast freezers Ø Pre Coolers Ø Ripening
Chambers Ø Controlled
atmosphere chambers Ø IQF and flow
freezer Ø Tunnel Freezers Ø Evaporators Ø Condensing units Ø Process cooling Ø Walk in coolers Ø Walk in freezers Ø Cold rooms Ø Wine storages Ø Poultry houses Ø Clean rooms Ø Turn key solution
for any type of refrigeration and air conditioning |
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Exports : |
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Products : |
Service Providers abroad |
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Countries : |
Ø Liberia Ø Japan |
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Imports : |
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Products : |
Ø Izopoli Ø Bitzer
Kuhimaschinenban Ø Kingspan Group
PLC |
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Countries : |
Ø Turkey Ø Germany Ø Ireland |
GENERAL
INFORMATION
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Bankers : |
Ø State Bank of
India Ambattur Branch, Ambattur 600053 |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 20.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 20.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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40.000 per annum |
LOCAL AGENCY
FURTHER INFORMATION
Note:
Subject started 3 years ago, this is a partnership firm engaged in total
refrigeration solutions. Mr. Selvan
Tamil is the Managing Partner and his family members form silent partners. Mr. Selvan Managers the whole firm. They are right now engaged in a big project
in Liberia and expect a project from Japan.
A vibrant upcoming firm that has over 3 years experience in refrigerator
systems and has Mr. Selvan at the helm who has more than 20 years service in
the Industry.
Products
Subject offers the wide range of cooling and
preservation solutions, Solutions tailored made to suit any Industry that
requires storage of perishable produce over extended periods of time without
suffering any loss of quality be it in look, feel, touch, taste or chemical
composition.
Industries that find ColdKraft’s solutions
enormously useful include the agriculture sector including horticulture and
floriculture units, manufacturers of fresh produce of any kind, food processing
units, pharmaceutical Industries, seafood and other similar industries as well
as the dairy and hospitality sectors, including hotels, restaurants and eateries.
List of projects the subject has completed:
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1 |
Mangala Seafoods [Blue Water Foods, Mangalore] Karnataka |
02 x 400 Tons Cold Storage 05 x Ante-room, Chill Rooms 02 x 5 Tons Blast Freezers |
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2 |
Kay Kay Exports, Kerala |
01 x 500 Tons Cold Storage |
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3 |
GKS Business Associates, Kerala |
01 x 230 Tons Cold Storage |
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4 |
Baby Marine International, Kerala |
02 x 250 Tons Cold Storage |
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5 |
Baby Marine Foods, Pattukotai, Tamilnadu |
01 x 450 Tons Cold Storage 05 x Ante room and Chill Rooms |
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6 |
Five Star Marine - Nellore, A.P |
01 X 500 Tons
Cold Storage, |
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7 |
Cochin Frozen Foods, Kerala |
02 x 300 Tons
Cold Storage |
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8 |
Indian Aquatic Products, Kerala |
01 x 220 Tons
Cold Storage |
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9 |
Britto Exports, Tuticorin |
01 x 500 Ton
Cold Store |
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10 |
Geo Seafoods, Cochin |
01 x 700 Ton
Cold Store |
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11 |
Capithan’s (Veronica) Kollam |
01 x 750 Ton
Cold Store |
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12 |
Allied Exim Foods, Chennai |
02 x 170 Ton
Cold Storage |
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13 |
Devi Sea Foods, Tanuku, |
01 x 1000 Ton
Cold Storage |
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14 |
Devi Sea Foods, Singarayakonda |
01 x 700 Ton
Cold Storage |
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15 |
Balda Motherson, Chennai |
5700 Sqm PUF
panels |
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16 |
Baby Aqua Sea Foods, Tutticorin |
01 x 500 ton
Cold store |
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17 |
Sagar Grandhi Exports, Singarayakonda |
01 x 400 Ton
Cold Store |
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18 |
Silver Sea Foods, Veraval |
01 x 200 Ton
Cold Store |
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19 |
Saurashtra Cold Store, Bhavnagar |
01 x 7000 Ton
Cold Store, 6000 Sq.mt PUF Panel |
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20 |
Goodwill Exports, Veraval |
01 x 1000 Ton
cold store, 03 x 5 Ton Blast |
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21 |
Keshodwala Exports, Veraval |
02 x 500 Ton
Cold Store, 08 x 5 Ton Blast |
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22 |
Adatya Exports, Monrovia, Liberia, Africa |
01 x 1000 Ton
Cold Store |
AS PER WEBSITE DETAILS:
PROFILE:
Subject offers the wide range of cooling and preservation solutions. Solutions
tailored made to suit any industry that requires storage of perishable produce
over extended periods of time without suffering any loss of quality - be it in
look, feel, touch, taste or chemical composition.
Industries that find ColdKraft’s solutions enormously useful include the
agriculture sector including horticulture and floriculture units, manufacturers
of fresh produce of any kind, food processing units, pharmaceutical industries,
seafood and other similar industries, as well as the dairy and hospitality
sectors, including hotels, restaurants, and eateries.
Products and Services offered by Subject:
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Cold Stores, Chill Stores etc) |
Wide Rage Of Display Merchandisers & Customised Cases For
Supermarkets etc |
Blast Freezers, Ammonia Coils |
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Insulated PUF Panels & Doors for Refrigerated Warehouses |
Insulated Fire Safe Panels |
Fire Rated Doors |
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Air Craft Hangers |
Insulated Doors & Docking Solutions |
Fire Retardant PU Panels |
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RockwoolPanels |
Mobile Refrigeration & A/c Solutions - Thermoking |
Customized Chillers and freezers - Dairy, & Frozen food |
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Process Cooling & Customized Control Systems |
Design and Construction Services. |
Proactive Remote Monitoring. |
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Storage Racking System (Drive In / Manual Stacking) |
MS Roofing Structure |
SpaceFraming |
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Insulated PUF Panels For Building Structures. |
Annual Maintenance and Support. |
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VISION:
To be the first choice in refrigeration, the global benchmark in
customer service and at the forefront of technologies that will enhance the way
they live.
Provide high-quality, cost-effective services and programs targeted to
member needs
Facilitate and promote the industry's growth in the marketplace,
nationally and internationally
MISSION
Cold Kraft consist of a professional team of talented, fully trained
individuals dedicated to achieve Cold kraft goals of high quaility and
customers satisfaction. They in Cold kraft believe in full partnership with
their clients in order to fulfill their commitment in providing the most
suitable , efficient and prestigious turnkey solutions, consisting of
engineering, cold store, warehousing, industrial building solutions and
refrigeration systems to enable clients making the best of their time and
money.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.48 |
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UK Pound |
1 |
Rs. 77.44 |
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Euro |
1 |
Rs. 57.75 |
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 |
NO |
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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 |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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