MIRA
INFORM REPORT
|
Report Date : |
07.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KUMAR METAL INDUSTRIES |
|
|
|
|
Registered Office : |
101, Kakad Bhavan, 30th Road, Opp. Gaiety Galaxy Cinema,
Bandra (West) Mumbai – 400050, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1939 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK00943F |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Oil Mills, refinery plants, preparatory
section (soyabean), desiccated plants etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed concern having fine track.
Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. The concern can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Ms. Shilpa Kakkar |
|
Designation : |
Accounts |
|
Date: |
07.03.2008 |
LOCATIONS
|
Registered Office : |
101, Kakad Bhavan, 30th Road, Opp. Gaiety Galaxy Cinema,
Bandra (West) Mumbai – 400050 |
|
Tel. No.: |
91-22-28459100 / 28458300 / 26441674 |
|
Fax No.: |
91-22-28456263 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. fts. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot 7, Mira Industrial Estate, Off Western Express Highway, Mira Road
(East) |
|
Location : |
Owned |
|
|
|
PARTNERS
|
Name : |
Mr. Sudhir Manaktala |
|
Designation : |
Partner |
|
Date of Birth/Age : |
56 years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. Sunil Manaktala |
|
Designation : |
Partner |
|
Date of Birth/Age : |
52 years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. Aditya Manakatala |
|
Designation : |
Partner |
|
Date of Birth/Age : |
30 years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. Rushabh Manaktala |
|
Designation : |
Partner |
|
Date of Birth/Age : |
25 years |
|
Qualification : |
Graduate |
|
Name : |
Mr. Akshay Manaktala |
|
Designation : |
Partner |
|
Date of Birth/Age : |
21 years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Ms. Gayatri Manaktala |
|
Designation : |
Partner |
|
Date of Birth/Age : |
23 years |
|
Qualification : |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Oil Mills, refinery plants, chemical
refinery plants preparatory section (soyabean), desiccated plants etc. |
|
|
|
|
Products : |
Ø Oil Mills Ø Refinery plants Ø Chemical
refinery plants Ø Preparatory
section (soyabean) Ø Desiccated
plants |
|
|
|
|
Exports : |
|
|
Products : |
All Products |
|
Countries : |
Europe, Asia, African Countries, UK, USA, Australia |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash |
|
|
|
|
Purchasing : |
Cash and Credit (Depends on client) |
GENERAL
INFORMATION
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
79 |
|
|
|
|
Bankers : |
Canara Bank, Bandra Branch |
|
|
|
|
Facilities : |
Credit Limit Rs.25.000 Millions |
|
Auditors : |
|
|
Name : |
Vasantial C Shah and Company (Chartered Accountants) |
|
Address : |
Ghatkopar |
|
|
|
|
Associates/Subsidiaries : |
Kumar Machines Private Limited, Bandra (West) Line of Business: Jobwork Indian Grankshast Industries, Bandra (West) Line of Business: Jobwork |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.50.000 Millions (Estimated) |
|
Borrowed : |
|
|
Total : |
Rs.50.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
300.000 |
250.000 |
|
|
|
|
|
Expected Sales (2007-08) : Rs.280.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Subject was started by Mr. Onkarnath R. Manaktala 1939.What began as a
small family venture, based on a foundation of dedication, hard work and hope,
grew in strength and purpose over the years. The concern, making its name with
its Oil Seed Processing and Crushing Equipment - with highly motivated staff -
is now a well-recognized manufacturing export house with an ISO 9000
CERTIFICATION.
It has become their forte to set up turnkey projects in Oil Mills,
Solvent Extraction Plants and Oil Refineries. Their plants can handle various
oil seeds and oil like sunflower, peanuts, canola, soyabean, cottonseed, copra
and palm kernel.
Subject geared towards total quality management. This has helped their bring
home several awards and certificates from the Indian Government and from the Engineering
Export Promotion Council in recognition of their export and innovative prowess.
A concern, which works on the principles of honesty, integrity, sincerity and
dedicated to serve its customer's interest. Now, with the founder's sons at the
helm of affairs, it is a tight-knit, 200 people strong company with its tracks
in over 25 countries. More than 500 customers helped pave the way for this.
The subject, which has built a considerable reputation in oil milling, refining
systems and solvent extraction, it has also diversified into the plastics
industry and in water purification plants. Now, it is ready to move ahead with
even more vigour than before.
Concern, 40,000 square feet in size, houses 150 skilled technicians, quality
control personnel, dedicated workers and the latest, most modern precision
European machinery where we churn out projects for their clients
AWARDS
Concern has received several
awards and certificates from the Government of India and Engineering Export
Promotion Council.
Mr. Onkarnath R. Manaktala
From: Minister for Industries
for Export Recognition.
Shri Jawaharlal Warda
Mr. Sudhir
Manaktala
From: Honorable Industries
& Commerce Minister of
India Mr. Chidambaram
Mr. Sunil
Manaktala
From: Honorable Governor
of Reserve Bank of India
Mr. Rangarajan
Mr. Onkarnath R.
Manaktala
From: Finance Minister,
Maharashtra.
Mr. Sushil Kumar Shinde
Mr. Sudhir
Manaktala
From: The Governor
of Maharashtra.
Shri Brahmanand Reddy
Mr. Sunil
Manaktala
From: Finance Minister,
Maharashtra.
Shri Ram Rao Adik
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.40.67 |
|
UK Pound |
1 |
Rs.82.03 |
|
Euro |
1 |
Rs.62.54 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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 |
|