MIRA
INFORM REPORT
|
Report Date : |
14.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KLOECKNER PENTAPLAST INDIA PRIVATE LIMITED |
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Registered Office : |
Vatika Business Centre, First India Place BLK – C, Ground Floor,
Sushant Loak – I, Mehrauli – Gurgaon Road, Gurgaon 122 022, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
19.01.2006 |
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Com. Reg. No.: |
05-36006 |
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CIN No.: [Company
Identification No.] |
U25209HR2006PTC036006 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Pharmaceutical Films |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
This is a new project of Kloeckner Pentaplast GMBH CO. KG Germany
which is a multi national giant. Trade relations are fair. Payments
are correct and as per commitments.
The company is expected to go on stream, soon. It can be considered good for any normal business dealings at usual
trade terms and conditions. Mr. Lalit Mohan and Mr. N. Pal of the company remained non co-operative
during current investigation. |
LOCATIONS
|
Registered Office : |
Vatika Business Centre, First India Place BLK – C, Ground Floor,
Sushant Loak – I, Mehrauli – Gurgaon Road, Gurgaon 122 022, Haryana, India |
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Tel. No.: |
91-124-4585000 / 4028888 / 4067070 |
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Fax No.: |
91-124-4585050 / 4028800 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Joachim Kreuzburg |
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Designation : |
Director |
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Address : |
Dabringhauser Str. 48, 51067 Koln, Germany |
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Date of Appointment : |
19.01.2006 |
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Name : |
Mr. Thomas Goeke |
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Designation : |
Director |
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Address : |
6254 Hillsboro Lane, Crozet, Virginia 22932, USA |
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Date of Birth/Age : |
02.01.1959 |
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Date of Appointment : |
19.01.2006 |
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Name : |
Mr. Charles Bachler |
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Designation : |
Director |
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Address : |
Sandstreasse 63, CH 3302, Moosseedorf, Switzerland |
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Date of Birth/Age : |
17.07.1954 |
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Date of Appointment : |
19.01.2006 |
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Name : |
Mr. Thorsten Kuehn |
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Designation : |
Director |
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Address : |
Wongamat Place 285 / 172, Soi 16, Moo 5, Pattaya – Naklua Road,
Banglamung, Chonburi, Thailand |
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Date of Appointment : |
19.01.2006 |
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Name : |
Mr. Alok Marwaha |
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Designation : |
Director |
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Address : |
115, Uday Park, New Delhi- 110049, India |
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Date of Birth: |
17.07.1962 |
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Date of Appointment : |
19.01.2006 |
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Name : |
Mr. Gurdeep Singh |
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Designation : |
Director |
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Address : |
B 17, Vasant Marg, New Delhi, 110 057, India |
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Date of Birth/Age : |
23.07.1944 |
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Date of Appointment : |
04.02.2007 |
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Name : |
Mr. Gautam Sircar |
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Designation : |
Director |
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Address : |
B – 702, Zen Garden, 6, Artillery Road, Bangalore 560008, Karnataka,
India |
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Date of Birth/Age : |
28.04.1956 |
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Date of Appointment : |
01.10.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 31.03.2007]
|
Names of Shareholders |
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No. of Shares |
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Equity Shares |
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Kloeckner Pentaplast Netherlands B. V. |
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299999 |
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Kloeckner Pentaplast Thailand Limited |
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1 |
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Preference
Shares |
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Kloeckner Pentaplast Netherlands B. V. |
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39700000 |
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Total |
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40000000 |
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Equity Share
Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Foreign Holdings |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceutical Films |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Lodha and Company Chartered Accountants |
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Address : |
12, Bhagat Singh Marg, New Delhi 110 001, India |
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Holding Company: |
Kloeckner Pentaplast GMBH CO. KG Germany |
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Group Companies: |
Argentina Klöckner Pentaplast
de Argentina S.A. Australia/New Zealand Klöckner
Pentaplast (Australia) Pty Ltd Benelux Klöckner Pentaplast
Netherlands B.V. Brazil Klöckner Pentaplast
do Brasil, Ltda. Canada Klöckner Pentaplast
of Canada, Inc. China Kloeckner
Pentaplast GmbH + Co KG France Klöckner Pentaplast
France S.ŕ r.l. Germany Klöckner Pentaplast
GmbH & Co. KG
Great Britain/Ireland Klöckner Pentaplast
Ltd.
India Kloeckner
Pentaplast India Private Limited Kloeckner Pentaplast India Private Limited Indonesia PT Klöckner Pentaplast Indonesia Italy Klöckner
Pentaplast Italia S.r.l. Mexico Klöckner Pentaplast
de México S. de R.L. de C.V. E-mail: mexico@kpfilms.com
Russia Klöckner Pentaplast
Rus Scandinavia Klöckner
Pentaplast Nordic AB Spain Klöckner Pentaplast
Ibérica S.L. Switzerland Aerni-Leuch AG Thailand Kloeckner Pentaplast
(Thailand) Ltd. United Arab Emirates Klöckner Pentaplast
(Middle East) FZC USA Klöckner Pentaplast
of America, Inc. |
CAPITAL STRUCTURE
[As on 30.09.2007]
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 Millions |
|
39700000 |
Preference Shares |
Rs. 10/- each |
Rs. 397.000 Millions |
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Total |
|
Rs. 400.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 Millions |
|
39700000 |
Preference Shares |
Rs. 10/- each |
Rs. 397.000 Millions |
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Total |
|
Rs. 400.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
|
[1.505] |
[0.257] |
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NETWORTH |
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[1.005] |
0.243 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
|
8.680 |
0.000 |
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TOTAL BORROWING |
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8.680 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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7.675 |
0.243 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.190 |
0.000 |
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Capital work-in-progress |
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0.819 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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7.983 |
1.426 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
0.576 |
0.238 |
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Total
Current Assets |
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8.559 |
1.664 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.837 |
1.418 |
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Provisions |
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0.056 |
0.003 |
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Total
Current Liabilities |
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3.893 |
1.421 |
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Net Current Assets |
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4.666 |
0.243 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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7.675 |
0.243 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Total Income |
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7.327 |
0.417 |
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Profit/(Loss) Before Tax |
|
[1.126] |
[0.250] |
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Provision for Taxation |
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0.121 |
0.007 |
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Profit/(Loss) After Tax |
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[1.247] |
[0.257] |
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Expenditures : |
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Financial Charges |
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0.032 |
0.000 |
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Depreciation & Amortization |
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0.071 |
0.000 |
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Other Expenditure |
|
8.350 |
0.667 |
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Total Expenditure |
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8.453 |
0.667 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
|
[17.02] |
[61.63] |
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Net Profit Margin (PBT/Sales) |
(%) |
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[15.37] |
[59.95] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[10.48] |
[15.02] |
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Return on Investment (ROI) (PBT/Networth) |
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[1.12] |
[1.03] |
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Debt Equity Ratio (Total Liability/Networth) |
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12.51 |
5.85 |
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Current Ratio (Current Asset/Current Liability) |
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2.20 |
1.17 |
LOCAL AGENCY
FURTHER INFORMATION
Business:
Klockner Pentaplast a pharmaceutical packaging solutions provider from Germany
is planning to set up a pharmaceutical films manufacturing facility in
Aurangabad, Maharashtra. The proposed
plant with an initial capacity of 15000 tpa is expected to entail an investment
of Rs. 832.500 Millions. The unit was
expected to go on stream in April, 2008.
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 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. 42.87 |
|
UK Pound |
1 |
Rs. 83.41 |
|
Euro |
1 |
Rs. 66.11 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
-- |
|
FINANCIAL CONDITION |
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|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
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--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
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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 |
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
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 |
|