MIRA
INFORM REPORT
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Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KABRA EXTRUSION TECHNIK LIMITED |
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Registered Office : |
Kolsite House, 31, Shah Industrial Estate, Veera Desai Road, Andheri
(West), Mumbai – 400053, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
21.10.1982 |
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Com. Reg. No.: |
11-28535 |
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CIN No.: [Company
Identification No.] |
L28900MH1982PLC028535 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK11319A |
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PAN No.: [Permanent
Account No.] |
AAACK4289L |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares
are Listed on the Stock Exchanges. |
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Line of Business : |
Manufacturing and Exporting of Steel for Barrels, Extrusion Screws, Thrust Box (Geared) Housing Assembly, Thyristor Drive, Single and Twin Screw Extrusion Plants. |
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 3320825 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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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 experienced and respectable businessmen. Their trade relations are reported as fair. Business is active. Payments are reported as 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 : |
Kolsite House, Veera Desai Road, Andheri (West), Mumbai 400053, Maharastra, India |
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Tel. No.: |
91-22-26734822-25 / 56952681 / 26367551 / 26330272 |
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Fax No.: |
91-22-26735041/56952680/26367512/26326336 |
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E-Mail : |
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Website : |
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Factory: |
Kachigam, Daman Industrial Estate, Plot No. 14 and 15, Kachigam, Daman - 396210, Gujarat, India |
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Tel. No.: |
91-260-2241401-3/2242616 |
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Fax No.: |
91-260-2241965 |
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E-Mail : |
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Website: |
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Regional Office / Branch Office : |
Located at :- v 402, Lalita Complex, Jain Mandir Road, Near HDFC, Navrangpura, Ahmedabad – 380 009, Gujarat Tel. 91-79-6447841/6564828 Fax. 91-79-6427281 E-mail. ahmedabad@kolsitegroup.com v Unit No. 211, Barton Centre, M. G. Road, Bangalore – 560 001, Karnataka Tel. 91-80-5598897/5550318 Fax. 91-80-5598897 E-mail. bangalore@kolsitegroup.com v Shree Ganesha Centre, D/2nd Floor, 216, A. J. C. Bose Road, Kolkata – 700 017, West Bengal, India Tel. 91-33-22475963/22406308 Fax. 91-33-22474221 E-mail. calcutta@kolsitegroup.com v C-1, Gems Court, 14, Khader Nawaz Khan Road, Nungambakkam, Chennai – 600 006, Tamilnadu Tel. 91-44-28332041/28332553 Fax. 91-44-28332823 E-mail. chennai@kolsitegroup.com v 1108-1110, Hemkunt House, 6, Rajendra Place, New Delhi – 110 008 Tel. 91-11-25734587/25711962 Fax. 91-11-25755319 E-mail. delhi@kolsitegroup.com v 507/E, 5th Floor, “Navaketan”, Opposite Clock Tower, S. D. Road, Secunderabad – 500 003, Andhra Pradesh Tel. 91-40-27806410/27806431 Fax. 91-40-27806431 E-mail. hyderabad@kolsitegroup.com |
DIRECTORS
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Name : |
Mr. Shreevallabh G. Kabra |
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Designation : |
Chairman and Managing Director |
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Age : |
71 Years |
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Qualification: |
B.A. (Hons) |
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Experience : |
40 Years |
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Date of Employment : |
01.04.2004 |
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Name : |
Mr. Haridas Sagatmal Sanwal |
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Designation : |
Director |
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Date of Birth/Age : |
68 Years |
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Qualification : |
M. Com., LL.M., F.C.S., F.C.I.S. (London), F.C.C.S. (London) |
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Experience : |
Over 40 Years |
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Other Directorship: |
v Plastiblends India Limited v Kolsite Maschine Fabrik Limited v Kabra Winders Limited v All Purpose Consultants and Services Private Limited v Harekrishna Harerama Trading Company Private Limited v Welworth Investment & Trading Company Private Limited v Elegant Trading & Investments Company Private Limited v Ideal Consultancy Services Private Limited v See Diff Software Solutions (India) Private Limited |
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Name : |
Mr. Mahavir Prasad Surajmal Taparia |
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Designation : |
Director |
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Date of Birth/Age : |
65 Years |
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Qualification : |
B. A. |
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Experience : |
Over 40 Years |
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Other Directorship: |
v Siltap Chemicals Limited v Supreme Petrochem Limited v The Supreme Industries Limited v Supreme Capital Management Limited v Dherand Chemical Terminal Limited v Multilayer Films Private Limited v Jagatguru Investment and Trading Company Private Limited v Polystrene Producers Association (India) |
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Name : |
Mr. Yagnesh Kumar Bhagwati Prasad Desai |
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Designation : |
Director |
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Date of Birth/Age : |
67 Years |
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Qualification : |
B. A. (Hons) CAIIB |
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Experience : |
v Over 39 Years in Banking Sector v Served with SBI and Exim Bank in various capacities including as Managing Director of Export Import Bank of India |
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Nature of Expertise : |
v General Banking v International Banking and Trade Finance |
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Other Directorship : |
v LIC Housing Finance Limited v Dishman Pharmaceuticals and Chemicals Limited v Deutsche Trustee Services (India) Private Limited |
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Name of the other companies in which holds committee
position : |
v LIC Housing Finance Limited v Dishman Pharmaceuticals and Chemicals Limited v Deutsche Trustee Services (India) Private Limited |
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Name : |
Mr. Anand Shreevallabh Kabra |
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Designation : |
Director |
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Date of Birth/Age : |
34 Years |
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Qualification : |
B. E. (Mechanical), M.B.A. in Family Business |
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Experience : |
v 10 Years in Business and Industry |
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Nature of Expertise : |
v Information Technology System v Material Management v Quality Systems and Standards v Technology Upgradation in manufacturing process for quality and cost control v Project Execution and Plant Management. |
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Other Directorship : |
v Kolsite Maschine Fabrik Private Limited v Plastiblends India Limited v Smartech Global Solutions Limited v Wonder World Resorts Limited |
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Name : |
Mr. Satyanarayan Gopilal Kabra |
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Designation : |
Vice Chairman and Managing Director |
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Date of Birth/Age : |
64 Years |
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Qualification : |
B.E. (Mechanical) |
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Experience : |
v Over 41 Years in business and industry. v Promoters of Kolsite Group of Companies. |
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Nature of Expertise : |
v Management and Control of Business and Industrial Houses. |
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Other Directorship : |
v Plastiblends India Limited v Kabra Winder Limited v Kolsite Maschine Fabrik Private Limited v Smartech Global Solutions Limited v Wonder World Resorts Limited v Mahashree Plastic Industries Private Limited v Anand Varun Finance Private Limited |
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Name : |
Mr. Nihalchand C. Chauhan |
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Designation : |
Director |
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Date of Birth/Age : |
72 Years |
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Qualification : |
B.Com *Hons), LLB, CAIIB |
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Experience : |
v Over 47 Years of professional banking and 4 years as consultant v 19 Years with State Bank of India – Commercial and International Banking v 21 Years with Arab Monetory Fund, Abu Dhabi |
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Nature of Expertise : |
v Banking and Finance v Investment Policy and Portfolio Management. |
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Other Directorship : |
v IBX Forex Limited v Encee Securities Private Limited v Supreme Petrochem Limited |
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Name of the other companies in which holds committee
position : |
v Supreme Petrochem Limited |
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Name : |
Mr. Punamchand C. Parmar |
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Designation : |
Director |
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Qualification : |
B. Com. FCA., L.L.B. |
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Name : |
Mr. Haridas S. Sanwal |
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Designation : |
Director |
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Qualification : |
M. Com., LL.M., F.C.S., F.C.I.S. (London), F.C.C.S. (London) |
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Name : |
Mr. S. N. Kabra |
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Designation : |
Director |
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Qualification : |
B. E. (Mechanical) |
KEY EXECUTIVES
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Name : |
Mr. Y D Sanghavi |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2008
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Promoters |
4386569 |
55.00 |
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Public Financial Institutions, Banks and
Insurance Companies |
11250 |
0.14 |
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Private Corporate Bodies |
97354 |
1.22 |
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NrIs/OCBs |
1286781 |
16.13 |
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Indian Public and others |
2193626 |
27.51 |
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Total |
7975580 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Exporting of Steel for Barrels, Extrusion Screws, Thrust Box (Geared) Housing Assembly, Thyristor Drive, Single and Twin Screw Extrusion Plants. |
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Products : |
v Steel for Barrels v Extrusion Screws v Thrust Box (Geared) Housing Assembly v Thyristor Drive v Single and Twin Screw Extrusion Plants v Die Heads for PVC Pipe Extrusion v Double Spider Die Head (RD) v Die Heads for Polyolefin Pipe Extrusion v Vaccum Calibrators and Spray Baths v Calibrating Sleeves v Pipe Haul off Units v Pipe Cut off Units v Twin Pipe Extrusion v Three Layer Blown Film Plants v LLDPE/HM-HDPE/LDPE Blown Film Plants v RPVC/SPVC Blown Film Plants v PP Blown Film Plants v High – Output HM Blown Film Plnats v Mixer Coolers v PVC Compounding Mixer – Coolers v Semi Automatic Belling Machine v Kolsite Battenfeld Twin Screw RPVC Pipe Plants v HDPE Pipe Plants v Cable Coating Plants v Monofilament/Box Strapping Plants v High Speed PP/HDPE Tape Plants v Kolsite – Battenfeld PVC Pelletizing Plants v Extrusion Coating Plants
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Exports : |
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Countries : |
v Bangladesh v Sri Lanka v Kenya v Nigeria v Tanzania v Ghana v Uganda v Ethiopia v Zambia v Zimbabwe v Sierra Leone v Egypt v Sudan v Botswana v South Africa v Sultanate of Oman Qatar v UAE v Iran v Saudi Arabia v Kuwait v Brunei v Ukraine, v Russia v Vietnam v Indonesia v Germany v Thailand v Singapore v UK v Fiji v Ireland v Italy v CIS Countries v Cyprus |
PRODUCTION STATUS
As on 31.03.2008
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Particulars |
Actual Production |
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31.03.2008 |
31.03.2007 |
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Single and Twin Screw Extrusion Plants |
340 |
328 |
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Extrusion Barrels |
601 |
585 |
GENERAL
INFORMATION
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No. of Employees : |
311 |
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Bankers : |
v State Bank of India Industrial Finance Branch, The Arcade World Trade Centre, Cuffe Parade, Mumbai – 400 005, Maharashtra, India Tel No :
91-22-22160926 |
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Facilities : |
Secured Loans
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Auditors : |
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Name : |
A. G. Ogale and Company Chartered Accountants Pune, Maharashtra, India |
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Associates : |
v Wonderworld Resorts Limited v Anand Varun Finance Private Limited v Maharashtra Plastic Industries v Plastiblends India Limited v Kolsite Maschine Fabrik Limited v Maharshree Plastic Industries Private Limited v Plastic and Industries Smartech Global solutions Limited v Rambalab Ramnaran v Kolsite Industries v Jayprakash Enterprise Limited v United Socio Economic Development & Research Programme (UNDARP) v Ganges Urethane Private Limited v Parmar Softech Systems Private Limited v IDBI Principal Assets Investment Management Company Limited v Parmar Foods Parmar Construction and Properties v All Purpose Consultations and Services Private Limited v Harekrishna Harerama Trading Company Private Limited v Ideal Consultancy Services Private Limited v Welworth Investments and Trading Company Private Limited v Elegant Trading and Investments Company Private Limited v See Diff Software Solutions (India) Private Limited v SPL Industrial Park Limited v SPL Industrial Support Services Limited v Rama News Print and Papers Limited v Siltap Chemicals Limited v Supreme Petrochem Limited v Supreme Capital Management Limited v Dherand- Chemical Terminal Limited v Multilayer Films Private Limited v Jagatguru Investment and Trading Company Private Limited v Jeetmal Chhogmal v LIC Housing Finance Limited v Dishman Pharmaceuticals and Chemicals Limited v Deutsche Trustee Service (India) Private Limited v International Consultants and Technocraft Private Limited v Organisation
of Plastic Processors of India v IBS
Forex Limited v Encee
Securities Private Limited v Chemical
and Petro Chemicals Manufacturers Assn. v Polysterene
Producers Association |
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Subsidiaries : |
v Kabra Winders Limited v Kolsite Maschine Fabrik Private Limited v Plastiblends India Limited v Mahashree Plastic Industries Private Limited v Maharashtra Plastic and Industries v Smartech Global Solutions Limited v Rambalab Ramnaran v Kolsite Industries |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity shares |
Rs. 10/- each |
Rs. 100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
79,75,580 |
Equity shares |
Rs. 10/- each |
Rs. 79.755 millions |
Note:
( Of the above shares 36,14,500 Equity shares of
Rs. 10/- each were allotted as fully paid up bonus shares by capitalization of
securities premium account.)
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
79.755 |
79.755 |
68.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
584.410 |
495.284 |
369.800 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
664.165 |
575.039 |
438.400 |
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LOAN FUNDS |
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1] Secured Loans |
64.165 |
57.657 |
33.800 |
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2] Unsecured Loans |
0.000 |
26.499 |
30.800 |
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TOTAL BORROWING |
64.165 |
84.156 |
64.600 |
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DEFERRED TAX LIABILITIES |
31.751 |
28.574 |
0.000 |
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TOTAL |
760.081 |
687.769 |
503.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
405.524 |
376.744 |
238.300 |
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Capital work-in-progress |
0.000 |
0.000 |
1.400 |
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INVESTMENT |
109.881 |
101.483 |
26.600 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
391.883
|
329.116 |
220.500 |
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Sundry Debtors |
185.896
|
100.663 |
128.600 |
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Cash & Bank Balances |
9.381
|
13.916 |
15.000 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
68.060
|
49.519 |
124.200 |
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Total
Current Assets |
655.220
|
493.214 |
488.300 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
279.312
|
190.950 |
178.100 |
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Provisions |
131.231
|
92.722 |
73.500 |
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Total
Current Liabilities |
410.543
|
283.672 |
251.600 |
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Net Current Assets |
244.677
|
209.542 |
236.700 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
760.081 |
687.769 |
503.000 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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|
Sales Turnover |
1505.514 |
1287.030 |
1099.900 |
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Other Income |
0.000 |
0.000 |
33.700 |
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Total Income |
1505.514 |
1287.030 |
1133.600 |
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Profit/(Loss) Before Tax |
192.069 |
104.014 |
85.300 |
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Provision for Taxation |
42.500 |
25.500 |
22.100 |
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Profit/(Loss) After Tax |
149.569 |
78.514 |
63.200 |
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Earnings in Foreign Currency : |
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Export Earnings |
534.464 |
500.122 |
0.000 |
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Total Earnings |
534.464 |
500.122 |
0.000 |
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Imports : |
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Raw Materials |
156.435 |
95.325 |
0.000 |
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Total Imports |
156.435 |
95.325 |
0.000 |
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Expenditures : |
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Manufacturing Expenses |
152.736 |
156.235 |
13.400 |
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Raw Material Consumed |
1039.791 |
949.538 |
769.400 |
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Increase/(Decrease) in Finished Goods |
(34.377) |
(43.760) |
(32.200) |
|
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Salaries, Wages, Bonus, etc. |
114.645 |
85.653 |
73.300 |
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Interest |
6.912 |
4.914 |
3.800 |
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Depreciation & Amortization |
33.736 |
30.434 |
15.100 |
|
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Other Expenditure |
0.002 |
0.002 |
205.500 |
|
Total Expenditure |
1313.445 |
1183.016 |
1048.300 |
|
KEY RATIOS
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
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Debt-Equity
Ratio |
0.12 |
0.15 |
0.14 |
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Long
Term Debt-Equity Ratio |
0.07 |
0.06 |
0.05 |
|
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Current
Ratio |
1.40 |
1.49 |
1.76 |
|
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TURNOVER
RATIOS |
|
|
|
|
|
Fixed
Assets |
2.98 |
3.26 |
3.64 |
|
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Inventory |
4.45 |
5.02 |
5.69 |
|
|
Debtors |
11.20 |
12.03 |
9.43 |
|
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Interest
Cover Ratio |
29.12 |
22.65 |
23.45 |
|
|
Operating
Profit Margin(%) |
14.61 |
10.26 |
9.47 |
|
|
Profit
Before Interest And Tax Margin(%) |
12.51 |
8.05 |
8.10 |
|
|
Cash
Profit Margin(%) |
11.14 |
7.47 |
7.12 |
|
|
Adjusted
Net Profit Margin(%) |
9.04 |
5.27 |
5.75 |
|
|
Return
On Capital Employed(%) |
28.96 |
19.10 |
18.42 |
|
|
Return
On Net Worth(%) |
23.42 |
14.33 |
14.87 |
|
LOCAL AGENCY FURTHER
INFORMATION
Biodata
Incorporated in 1982, Kabra Extrusion Technik (KETL) was set up with the objective of manufacturing twin screw extruder machines, complete with downstream facilities for the manufacture of PVC pipes, profiles, sections and
granules in technical collaboration with Battenfield Extrusion Technik, Germany. The company commenced commercial production at Vapi in late 1985 and subsequently used its own know-how to start making cheese winders required by the PP/HPPE tape plants. It entered into a technical collaboration with UNICOR Rahn Plastmachinen, Germany, to manufacture and market corrugators and lay flat machines. Corrugators are used to make corrugator pipes, lay-flat machines find application in drip irrigation.
Ever since its public issue in May '89, KETL has shown attractive growth in
sales and net profit. The company also set up a plant at Daman to create
additional facilities for existing products so as to manufacture machinery for
HDPE pipes. This unit went on stream from Feb.'95.
KETL has entered into a joint venture agreement with Georg Sahm, Germany, and
incorporated Kabra Georg Sahm winders for the manufacture of precision winders
for PP/HDPE tapes, for woven sacks. The company also participated in a big way
in the Plastindia'97 Exhibition held every three years in New Delhi. KETL
having subsidiary of "Kabra George Sahm Winders Limited" during the
year 1998-99.
During the year 1999-2000, the company entered into a new collaboration
agreement with Battenfeld Extrusionstechnik GmbH, for manufacturing Twin Screw
Plastic Extrusion Machinery BEX - 2 series along with post extrusion
equipments.
The company had issued bonus shares during the financial year 2003-04 and
subsequent to the bonus issue, the paid up equity of the company has risen to
Rs. 68.600 millions.
During 2003-04,Kabra Winders Limited ceases to be a subsidiary of the company
since the dilution of equity holding from 74.90% to 29.30% in that company.
Director’s Report
Operation and
Outlook:
The Company has achieved the Operational and Other Income for the year at Rs. 1505.514 millions as against the previous years' Operational and Other Income of Rs. 1287.030 millions, an increase of 17 % over previous year. Profit Before Tax is Rs. 192.069 millions against the previous years' profit of Rs. 104.014 millions, an increase of around 85% over previous year. Net Profit of the Company after Tax and Deferred Tax is Rs. 145.112 millions as against Rs. 72.619 millions of the previous year, an increase of 99.83 % over previous year.
Exports:
Exports during the year is Rs. 549.500 millions as against previous years' export of Rs. 521.000 millions, an increase of 5% over previous year.
Management Discussion
and Analysis
Industry Structure and Its Developments:
The Company is engaged in capital goods sector, manufacturing Plastic Extrusion
Machinery, specialising in manufacture of plants to produce a wide range of
Plastic Pipes i.e. PVC, HDPE, LDPE, PP, Composite Pipes etc.
PVC pipes sector has almost 40% share of total PVC resin business. Pipe extrusion machinery is the largest market and the Company has about 65% share in this segment. The extrusion machinery industry, being linked to plastic consumption, has significant growth potential. The domestic production of extrusion machinery is around Rs. 7000.000 millions. It consists of plants for making pipes (Rs. 1500.000 millions) films (Rs. 1500.000 millions), tapes (Rs.1250.000 millions), sheet lines, profiles, pelletising, etc. (Rs. 2750.000 millions). Demand is growing in double digit, driven by thrust on agriculture, water management, construction, telecom, packaging applications, organized retailing, etc.
PVC pipes consumption has been recording high double digit volume growth. Traditionally, pipes were used in agriculture and irrigation but are now increasingly used for drinking water and sewage applications. The boom in housing, construction and infrastructure sectors would ensure growth momentum for PVC pipes.
HDPE pipes segment is an upcoming growth area with applications in telecom ducting, water supply, irrigation, fuel gas distribution, etc. The company has been manufacturing hi-tech HDPE pipe plants which has significant growth potential in India.
Flexible packaging industry has been growing at around 18% with focus on
Multi-Layer Blown Films (MLF). Applications in lamination, milk and edible oil
packing currently contribute 85% of the total market and the boom in organized
retailing coupled with rural market penetration is fuelling the demand for
MLF.
Opportunities and Threats
Recognising Company's capabilities in building global products at competitive
costs, the range of plants being exported is steadily increasing. During the
financial year 2007-08, the Company has exported its plant to 36 Countries.
The Company has been awarded with certificate of Export Excellence by the Engineering Export Promotion Council, India for six times from financial year 1995-96. As recognition of sustained and excellent export performance, Government of India has accorded 'STAR EXPORT HOUSE' status to the Company.
Exports of the Company during the year under review were Rs. 549.500 millions which is about 37.70% of the Annual Sales Turnover.
Technological obsolescence, Market conditions, growing competition including imports are considered to be the threats.
Segment-Wise
Performance
The Company is operating only in one segment i.e. Plastic Extrusion Machinery and Allied Equipments.
Outlook
The Company's business being global in nature, the outlook for margins and
profitability also depends upon overall global economic outlook and demand
supply scenario.
The Company's in-house R and D having decades of engineering experience and advanced designing software has enabled it to regularly introduce latest products.
The continuous inflow of latest technology is available from the Technical
Collaborator Battenfeld Extrusionstechnik GmbH, Germany and American Maplan
Corporation, USA for manufacturing wider range of extrusion lines. In-house R
and D with their support and engineering experience has developed more than 30
new models of plants during the financial year 2007-08 and about 20 new models
of plants are under development.
Customer relationship is very strong resulting into nearly cent percent repeat
business. At the same time, there is no excessive dependence on any single
customer.
India has the potential to become a sourcing base for machineries, critical
components, R and D services and after sales services for global plastic
machinery industry and the Company is well placed to capitalize on such an
opportunity.
Considering its leadership, large potential in domestic as well as export
markets and continuous technological innovation, the Company is confident of
recording an even better performance going forward.
Contingent Liabilities
|
|
31.03.2008 (Rs.
In millions) |
31.03.2007 (Rs.
In millions) |
|
In respect of
counter guarantee given to Bank For guarantees
issued by bank on behalf of the company. (Bank guarantees
are secured by hypothecation/ charges on companies current/ fixed assets.) |
42.91 |
37.374 |
|
In respect of
disputed demands/ claims against the company (i) Excise matters under dispute appeal by
department. |
1.957 |
1.957 |
|
(ii) Service Tax
matter under dispute appeal by company |
0.050 |
Nil |
Fixed Assets
v
Freehold land
v
Building
v
Furniture and
Fixtures
v
Plant and
Machinery
v
Vehicles
As Per Website Details
Profile
Subject is a part of Kolsite group is a leading manufacturer of Plastic extrusion machinery in India. KET offers a wide range of hi-tech sophisticated single and twin screw extrusion lines for pipes, profiles, pellets, PO pipelines for HDPE/PPR, teleduct, mono and multilayer blown films etc. The company has over four decades of rich experience in plastics industry. It has got the coveted ‘Two Star Export House’ status. The Company has won ‘Excellence in Export’ award five times and also is an ISO 9000 Company. KET has been benchmarking in plastics extrusion industry by sophisticated R & D techniques and various processes to cater to the market requirements for low power consumption, high output, maintenance free and user friendly Plastics Extrusion plants and machineries. KET has a joint venture with global leaders in plastics extrusion machinery viz. Battenfeld Extrusionstechnik, Germany and American Maplan Corporation, USA.
KET offers following major product lines viz.
v Twin screw extrusion lines for extrusion of RPVC/ CPVC pipes, PVC profiles and pellets
v Single screw extrusion lines for PO pipes
v Mono layer and Multi layer Blown film lines
KET is dedicated to provide various solutions in the above
product lines customised to meet the specific requirements of an extensive
range of plastics processing applications.
Press Releases
Export Excellence
Award 2005-06
Date:24/1/2008
KET has won the prestigious Export Excellence Award (2005-06) for the Sixth Time. This award is conferred upon by Engineering Export Promotion Council for Export Excellence in different product groups. KET has been a leader in Plastics Extrusion Technology and has a wide installation base of its extrusion plants in India and abroad. This award is a strong evidence of KET’s strong presence in exports.
KET at its Best in
K-2007
Date:28/11/2007
Kabra Extrusiontechnik Limited (KET) India’s leading manufacturer and exporter of plastic extrusion machines made a great impact at K 2007, the largest fair of plastics and rubber industry worldwide. KET had displayed its two hi- tech machines in a stall spread over 125 sq. mtrs. The main exhibit was a demonstration of advanced 65mm HM-HDPE Monolayer Blown Film Plant. The plant produced superior quality HDPE film at an output of 130 kgs/hr. Main applications of the film produced are shopping bags and T - shirt bags in double - up size. Also on display was Kolsite High Speed PVC Compounding Mixer-Cooler. This efficient Mixer – Cooler features PLC for auto operations with batch size of 200 kgs. These hi-tech machines were highly appreciated by the experts in plastics industry and KET could generate good business contacts and sales leads. Over 2, 42,000 trade visitors from over 100 countries attended the grand fair. It was an incredible experience in terms of exposure to international business fraternity.
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. 43.27 |
|
UK Pound |
1 |
Rs. 86.28 |
|
Euro |
1 |
Rs. 68.24 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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. |
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 |
|