MIRA
INFORM REPORT
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Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
DORF KETAL
CHEMICALS PRIVATE LIMITED |
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Registered Office : |
# 1, Dorf Ketal Tower,
D'Monte Street, Orlern, Malad (West), Mumbai - 400 064, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
12.05.1992 |
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Com. Reg. No.: |
11-66726 |
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CIN No.: [Company
Identification No.] |
U24100MH1992PTC066726 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD04225E |
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Legal Form : |
Private limited
liability company |
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Line of Business : |
Manufacturing of Process
Chemicals and Specialty Chemicals. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1618300 |
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Status : |
Good |
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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 company having fine track. The company is controlled, financed and
managed by Menon family. Their trade
relations are reported as fair. Financial
position of the company is good.
Payments are usually correct and as per commitments. The company can
be considered good for any normal business dealings at usual trade terms and
conditions The company has
not filed its latest financials with the Government records and management
declined to part the same. |
INFORMATION PARTED
BY
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Name : |
Mr. Suresh |
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Designation : |
Accountants |
LOCATIONS
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Registered
Office/Marketing and Sales Department : |
# 1, Dorf Ketal Tower, D'Monte Street, Orlern, Malad (West), Mumbai -
400 064, Maharashtra, India |
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Tel. No.: |
91-22-28880420 / 21 / 22 / 23/ 28813654/2883910 |
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Fax No.: |
91-22-28813655 |
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E-Mail : |
dorfops@vsnl.com , vijaymlpani@dorfketal.com , daulatjain@dorfketal.com |
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Website : |
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Area : |
Owned -- 1,07,500 sq.ft. |
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Corporate
Office : |
11104 West Airport Suite 125, Stafford, TX 77477, USA |
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Tel. No.: |
832-351-3492/351-3497 |
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Fax No.: |
832-351-3498 |
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E-Mail : |
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Factory 1 : |
W-165, MIDC, Taloja Chemical Zone, Taluka Panvel, District Raigad,
Maharashtra |
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Area : |
13,500 sq.ft. – Owned |
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USA Office: |
Dorf Ketal LLC 3727, Greenbriar, Suite 114, Stafford, TX 77477. |
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Tel. No.: |
281 491 3700 |
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Fax No.: |
281 491 3733 |
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Brazil Office: |
Dorf Ketal Brasil Ltda |
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Tel. No.: |
55-51-3061-2211 |
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Fax No.: |
55-51-3019-0890 |
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E-Mail: |
queries.brazil@dorfketal.com |
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China Office: |
Dorf Ketal Chemicals (I) Private Limited Shanghai Representative Office, A/603, Thomson center, 188, Zhangyang
Road, Pudong District, Shanghai-200122, China. |
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Tel. No.: |
86-13916219542 |
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Singapore
Office: |
Dorf Ketal Chemicals (I) Private Limited 25 International Business Park, #03-72 German Centre |
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H/P: |
65-8268 1435 |
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Tel. No.: |
65-6562 8255 |
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Fax No.: |
65-6562 8253 |
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E-Mail : |
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Bahrain
Office: |
Dorf Ketal Chemicals (I) Private Limited, Manama, Kingdom of Bahrain |
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Tel No: |
97 -33- 678 0547 |
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E-Mail: |
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Netherlands
Office: |
Dorf Ketal B.V. 4700 BN Roosendaal - The Netherlands |
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H/P No: |
31 -627-858 568 31 -627- 858 569 |
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Office No: |
31- 165325648 |
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E-Mail: |
queries.europe@dorfketal.com |
DIRECTORS
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Name : |
Mr. Menon Aniparamrji Vijayraghavan |
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Designation : |
Director |
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Address: |
101, Golden Roae Apartments, Dhanukarwadi (West),
Mumbai – 400 067, Maharashtra, India. |
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Date of
Birth/Age : |
23.07.1932 |
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Date of
Appointment : |
26.02.1996 |
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Name : |
Mrs. Menon Vijayaraghavan Padmaja
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Designation : |
Director |
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Address: |
101, Golden Rose Apartment, Dhanukarwadi,
Kandivali (West), Mumbai – 400 067, Maharashtra, India. |
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Date of
Birth/Age : |
01.06.1940 |
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Date of
Appointment : |
12.05.1992 |
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Name : |
Mr. Menon Vijayaraghavan Sudhir |
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Designation : |
Managing Director |
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Address: |
102, Golden Rose Apartment, Dhanukarwadi,
Kandivali (West), Mumbai – 400 067, Maharashtra, India. |
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Date of
Birth/Age : |
27.06.1963 |
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Qualification
: |
Chemical Engg., LLB, MBA |
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Experience : |
16 years |
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Date of Appointment
: |
09.07.1995 |
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Name : |
Mr. Menon Vijayaraghavan Subodh
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Designation : |
Director |
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Address: |
101, Golden Rose Apartment, Dhanukarwadi,
Kandivali (West), Mumbai – 400 067, Maharashtra, India. |
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Date of Birth
: |
08.08.1971 |
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Qualification : |
B. Sc. |
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Experience : |
11 years |
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Date of
Appointment : |
12.05.1992 |
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Name : |
Mr. Ramaswamy Neelakanthan Permangoda |
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Designation : |
Director |
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Address: |
A/12 Shivsagar, S. V. Road, Amdoli, Andheri (West), Mumbai – 400 062,
Maharashtra, India. |
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Date of
Birth/Age : |
22.12.1970 |
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Date of
Appointment : |
12.05.1992 |
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Name : |
Mr. Parambil Phadran Shaju |
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Designation : |
Director |
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Address: |
301-B, Akshadeep, Sai Baba Park, Evershine
Nagar, Malad (West), Mumbai – 400 062, Maharashtra, India. |
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Date of
Birth/Age : |
15.07.1971 |
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Date of
Appointment : |
18.06.1994 |
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Name : |
Dr. Subramaniam E.S. Mahesh |
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Designation : |
Director |
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Address: |
A-3, 104 Raunat Park, Pohhram Road No. 2,
Kokani Pada, Thane (West), Mumbai, Maharashtra, India. |
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Date of
Birth/Age : |
16.09.1968 |
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Date of
Appointment : |
31.03.2003 |
KEY EXECUTIVES
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Name : |
Mr. V.R.
Venkatraman |
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Designation : |
President –
Specialty Chemicals. |
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Tel no. : |
91-986-756-4140
(India) |
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Name : |
Mr. P.N.
Ramaswamy |
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Designation : |
Technical
Director |
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Tel No.: |
91-986-701-5009
(India) 91-832-876-8518
(US) |
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Name : |
Mr. N. Pattabhi |
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Designation : |
Adfactors PR |
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Tel No. : |
91-986-738-7132 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2005
|
Names of
Shareholders |
No. of Shares |
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Mr. Menon
Aniparamrji Vijayraghavan |
4000 |
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Mrs. Menon Vijayaraghavan Padmaja |
2040 |
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Mr. Ramaswamy
Neelakanthan Permangoda |
6235 |
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Mr. Menon Vijayaraghavan Sudhir |
71762 |
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Mr. Menon Vijayaraghavan Subodh |
49779 |
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Dr. Subramaniam Mahesh |
2500 |
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Mr. Menon Vijayaraghavan Sudhir |
15000 |
AS ON 31.03.2006
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100 |
BUSINESS DETAILS
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Line of
Business : |
Manufacturing of Process Chemicals and Speciality Chemicals. |
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Exports to : |
North America, Brazil, USA, Singapore, South America, Europe, Middle
East and Japan |
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Imports from : |
China, Germany, South Africa, USA, Europe, Germany and Japan |
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Terms : |
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Selling : |
Credit or L/C (30-60 days) |
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Purchasing : |
Credit or L/C (60-90 days) |
GENERAL
INFORMATION
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Suppliers : |
Ø BASF, USA Ø KMCO, USA Ø Associated Octel, UK Ø Reliance Industries, India Ø Godrej Industries Limited, India Ø Akshay Chemicals Ø A K Bhayani and Sons Ø Ambika Trading Company Ø Ankit Enterprises Ø Balaji Enterprises Ø Basf Limited Ø Chemo India Ø Chemtreat International Inc. Ø DKC LLC Ø D. K. Pharma Chem Private Limited Ø Equate Packers Ø Esbee Chem Products Ø Excel Industries Private Limited Ø Flora Chemicals Ø Ganesh Impex Limited Ø Hindustan Organic Chemical Limited Ø Indo Amines Limited Ø Omkar Corporation Ø R R Enterprises Ø R Nandlal and Sons Ø RKG Petroleum Private Limited Ø Rushabh Enterprises Ø S R Enterprises Ø SNF India Private Limited |
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Customers : |
Ø Water Bird, United Arab Emirates Ø Kyrgyz Petroleum Company, Kyrgyztan,
(Ex-USSR) Ø Manufacturers, Trading Firms, Government
Bodies, End Users Ø Apolo Lubes Private Limited Ø Ashish Construction Ø C and G India CP Ø Castrol India Limited., Silvassa Ø Chennai Petroleum Ø Eau Chemicals (Manufacturing) Private
Limited Ø Gurara Agencies Ø Hindustan Petroleum Corporation Limited,
Vizag Ø Indian Oil Corporation Limited, Assam Ø Indian Oil Corporation Limited, Taloja Ø Indian Trading Ø Ispat Metallics India Limited Ø NOCIL Ø Oil and Natural Gas Corporation Limited Ø Reliance Industries Limited Ø Siddhichemico Ø Tata Iron and Stell Company Ø The Ahmedabad Electricity Company.
Limited. (Sabarmati) Ø Tide Water Oil Company. (India) Limited Ø Water Bird Water Treatment Chemicals |
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No. of
Employees : |
150 |
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Bankers : |
Ø Central Bank of India A/92, Sahayog, S. V. Road, Kandivali,
Mumbai, Maharashtra Tel. 91-22-28071710 Ø State Bank of India Kandivali Industrial Estate, Near
Hindustan Naka, Kandivali (West), Mumbai, Maharashtra Tel. 91-22-28682570 Facilities Granted: Fund Based: Rs. 185.000
millions Non-Fund Based: Rs.
162.500 millions |
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Banking Relations : |
Good |
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Auditors : |
S. S. Gajja and Company Chartered Accountants |
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Address: |
402, Maker Bhavan No.3, 21, New Marine Lines, Mumbai – 400020,
Maharashtra |
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Associates : |
v Dorf Ketal Chemicals LLC, 11104 West
Airport Suite 125, Stafford, TX 77477, USA Tel. No. 832-351-3492/351-3497 Fax. No. 832-351-3498 E-mail. ramaswamy@dorfketalusa.com Contact Person - Mr.
P. N. Ramaswamy n
Wholly owned
subsidiary in USA n
Trading and
Marketing of Process Chemicals and Additives to Refineries and Petrochemicals Unit Turnover: USD 15.000 millions v Dorf Ketal Brasil Limited A Turnover: USD 9.000 millions v Matrix Agencies Line of Business: Distributors of FMCG
Products Turnover: Rs. 2000.000 millions v Matrix Marketing Line of Business: C & F Agents for FMCG
Products and White Goods Turnover: Rs.
2000.000 millions |
CAPITAL STRUCTURE
AS ON 31.03.2006
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350,000 |
Equity shares |
Rs. 100/- each |
Rs.
35.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300,316 |
Equity shares |
Rs. 100/- each |
Rs. 30.031 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
30.031 |
15.132 |
15.132 |
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2] Reserves & Surplus |
293.629 |
271.633 |
240.349 |
NETWORTH
|
323.660 |
286.765 |
255.481 |
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LOAN FUNDS |
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1] Secured Loans |
145.782 |
111.750 |
138.477 |
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2] Unsecured Loans |
68.725 |
74.984 |
31.726 |
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TOTAL BORROWING |
214.507 |
186.734 |
170.203 |
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Deferred Tax Liability |
42.246 |
37.132 |
33.082 |
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GRAND
TOTAL
|
580.413 |
510.631 |
458.766 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
281.419 |
233.503 |
212.776 |
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Capital work-in-progress |
5.330 |
0.000 |
0.000 |
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INVESTMENTS |
24.536 |
97.215 |
180.647 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
83.201 |
54.642 |
62.729 |
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Sundry Debtors |
321.072 |
306.092 |
162.826 |
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Cash & Bank Balances |
118.047 |
26.946 |
58.114 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
61.021 |
62.675 |
59.627 |
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Total
Current Assets |
583.341 |
450.355 |
343.296 |
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Less : |
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|
|
|
Current Liabilities |
249.074 |
235.653 |
258.647 |
Provisions
|
65.431 |
35.083 |
19.583 |
Total
Current Liabilities
|
314.505 |
270.736 |
278.230 |
Net
Current Assets
|
268.836 |
179.619 |
65.066 |
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MISCELLANEOUS EXPENSES |
0.292 |
0.294 |
0.277 |
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GRAND
TOTAL
|
580.413 |
510.631 |
458.766 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.06.2006 |
31.03.2005 |
Sales Turnover [including other income]
|
|
677.306 |
631.638 |
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Profit/(Loss) Before Tax
|
|
50.833 |
79.709 |
Provision for Taxation
|
|
0.000 |
0.000 |
Profit/(Loss) After Tax
|
|
50.833 |
79.709 |
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|
|
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Total Expenditure
|
|
626.472 |
551.928 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
4.61
|
12.61
|
-- |
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Net Profit Margin
(PBT/Sales) |
(%) |
7.50
|
12.61
|
-- |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
7.43
|
11.65
|
-- |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.17
|
0.27
|
-- |
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Debt Equity Ratio
(Total
Liability/Networth) |
|
1.63 |
1.59
|
1.75 |
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Current Ratio
(Current
Asset/Current Liability) |
|
1.85 |
1.66
|
1.23 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Name of the Company |
DORF KETAL CHEMICALS (INDIA) PRIVATE
LIMITED |
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Presented by |
State Bank of India, Kandivali Industrial
Estate Branch, Kandivali (West), Mumbai – 400 067, Maharashtra, India. |
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1. Date and
description of the instrument creating or evidencing the charge
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Agreement of
Hypothecation of Goods & Assets Letter regarding
the grant of individual limits with in the overall limit. Both the above
agreements are dated 22.12.2004 and executed for the creation of a single
charge. |
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2. Amount secured
by the charge /amount owing on security of the charge |
Rs. 347.500 Millions Amount in Millions
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3. Short
Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
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Hypothecation of
all present & future goods bookdebts and all other movable assets of the
borrower including documents of title to the goods. Outstanding moneys,
receivables including receivables by way of cash assistance and/or cash
incentives under the Cash Incentives Scheme or any other scheme claims
including claims by way of refund of customs/excise duties under the Duty
Draw back Credit Scheme or any other scheme. Bills, Invoices Documents,
Contracts, Insurance Policies, Guarantees, Engagements, Securities,
Investments and rights and the present machinery listed in the schedule
hereunto and all future machinery belonging to or in the possession of under
the control of the Borrower wherever lying stored and kept and whether in the
possession of the borrower or of the Bank or of any third party whether in
India or elsewhere throught the world (including such goods, other movable
assets as may be in course of shipment transit or delivery). Raw Material,
Stock in Process, Finished Goods, Export Packing Credit, Book Debts/
Receivables (90 days cover), Letter of Crdit, Bank Guarantee. |
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4. Gist of the
terms and conditions and extent and operation of the charge. |
R.O.I: Demand Cash Crdit
(Stocks & Bookdebts): 11.00% p.a. Exprot Packing
Credit (Within CC): 7.10% p.a. Stand by Line of
Credit: 12.00% p.a. Corporate Loan:
10.50% p.a. Margin: Raw Materials:
25% Stock In Process:
33% Finished Goods:
25% Export Packing
Credit: 10% Book
Debts/Receivables: 40% (90 days cover) Letter of Credit:
15% Bank Guarantee:
20% Repayment: Corporate Loan of
Rs. 50.000 Millions First 24 monthly
installments of Rs. 1.420 Millions each and Last 12 monthly
installments of Rs. 1.330 Millions each starting from April 205 |
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5. Names, address
and description of the persons entitled to charge |
State Bank of
India Kandivali
Industrial Estate Branch, Kandivali (West), Mumbai – 400 067, Maharashtra,
India. |
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6. Date and brief
description of instrument modifying the charge |
Not Applicable |
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7. Particular of
modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
Not Applicable |
Form No. 8
|
Corporate identity
number (CIN) Foreign company registration number |
U24100MH1992PTC066726 |
|
Name of the
Company |
DORF KETAL
CHEMICALS (INDIA) PRIVATE LIMITED |
|
Address |
# 1, Dorf Ketal
Tower, D; Monte Street, Orlem, Malad (W), Mumbai – 400064, Maharashtra |
|
This form is for |
Modification of
Charge |
|
Type of Charge |
Book Debts Movable propriety
(not being pledge) |
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Particulars of
the charge holder |
State Bank of
India, Address :
Kandivali Industrial Estate Branch, Kandivali (West), City : Mumbai – 400 067, State :
Maharashtra Email :
kamalax_saraf@hotmail.com |
|
Nature or
description of the instrument(s) creating or modifying the charge |
A] Supplemental
agreement of loan for increase in the over all limit Form C-A-1 B] Supplemental
agreement of hypothecation of goods and Assets for the increase in the
overall limit form C.-A C] Letter
regarding the grant of individual limits within the overall limit. |
|
Amount secured by
the charge |
Rs.469.500
millions |
|
Brief of the principal
terms and conditions |
N.A. B} Terms of
Repayment :1st 24 monthly Rs.1.420 millions and last 12 monthly
installment Rs.1.330 millions each starting form C] Margin : Raw
materials 25 % 2) Stock in
Prosess 33 % 3) Finished Goods – 25 % 4) EPC(Cover 180 days) – 10 % 5) Book Debts / Receivables (Cover 90
Days) – 40 % 6) Letter Credit – 15
% 7) Bank Guarantee – 20 % |
|
Short Particulars
of the property charged |
All present and
future goods, book debts and all other movable assets including documents of
to goods, outstand money, receivable including receivables by way of cash
assistance and or cash incentives under the cash incentive scheme or any
other scheme, claims including claims by way refund of customs / excise
duties under the duty drawback credit scheme, bills invoices, documents,
contracts insurance polices, guarantee, engagements, securities, investments
and rights and all present and future machineries. |
|
Particular of the
present modification |
The original charge
was created on 22.12.2004 for Rs.347.500 millions firstly modified on
08.01.2005 by offering and additional securities over the immovable
properties. Now by this modification the limit is increased from Rs.347.500
millions to Rs.469.500 millions |
Web Details Attached :
Corporate Overview
In a relatively brief span of 15 years, Subject has emerged as the largest Indian manufacturer of research based specialty chemicals used in the treatment of refineries, petrochemical plants and ancillary units. Their world-class primary production base and state-of-the-art Research centre are situated at Taloja, in the suburbs of Mumbai, a major port on the west coast of India. They are ISO 9001, ISO 14001 and OHSAS 18001 certified and today are the preferred supplier of research based specialty chemicals and additives for customers in Middle East, Africa, North & South America as well as the Asia Pacific.
They are ISO 9001, ISO 14001 and OHSAS 18001 certified and today are the preferred supplier for a range of performance-engineered specialty chemical programs in countries as diverse as UAE, South Korea, Saudi Arabia, Brazil, Qatar, Japan, Kuwait, and the USA. They believe in a customer-centric ethos and have a network of Sales and Service engineers located globally to cater to their customers worldwide.
Products
and Divisions
Subjectl is organized into divisions, each catering to a
particular industry and application range.
Superior Technology Additives for Refineries (STAR) - This
division offers chemical treatment programs for Crude refining units,
Hydrotreaters, catalytic cracking and thermal cracking units and lube
refineries.
Downstream Additives (DNA) – DNA division offers programs
for Quench oil & quench water towers, Dilution steam generators, cracked
gas compressors, gas separation systems, caustic and amine wash systems, and
Pyrolysis Gasoline Hydrogenation units.
PHLOX – PHLOX offers chemical treatment programs for finished
fuel additives, Lubricants, Branded Fuels, and ATF.
Water Treatment Chemicals (WTC) - This division caters to
water treatment systems. WTC division has a technical collaboration with
Chemtreat, USA and offers chemical treatment programs for cooling water, raw
water and boiler water treatment and antiscalants for desalination plants. WTC
products find applications in primary markets such as refineries,
petrochemicals, power plants, fertilizers, cement and steel as well as
secondary markets such as cooling towers, swimming pools, water chillers etc.
UOP Refining Chemicals - Subject acquired the world wide
chemical business of UOP in 2001. The chemical range includes popular products
such as anti-oxidants, corrosion inhibitors and anti foulants.
Research and Development
Value addition through Research and Development, and the
translation of new processes chemistry into patents is an important aspect of
the Dorf Ketal Vision.
Their modern and well-equipped Research facilities cover an area of 25,000 sq
feet and are located near their plant in Mumbai. The company routinely invests
10% of its gross revenues in Research. Dedicated and talented scientists form
the core of their Research team. Their path breaking efforts have resulted in
the adaptation of many new technologies, manufacturing improvements and a
clutch of valuable global patents. The RandD center is well equipped and
includes a pilot plant for commercializing the manufacturing chemistry. The
pilot plant is also used to make many tailor made chemicals as per customer
requirements.
Manufacturing
and Marketing Locations.
The company has its primary manufacturing facilities in Taloja a suburb of the
port town of Mumbai, located on the west coast of India. The company also has
production facilities in the Brazil and the Middle East. Dorf Ketal operates in
various countries through a mix of local representatives, marketing agents and
its own network of Branch Offices.
Collaborations:
Wholly Owned Subsidiary in USA (Dorf Ketal Chemicals LLC)
Wholly Owned Subsidiary in Brazil (Dorf Ketal Brasil LtdA)
Dorf Ketal group consists of the following concerns:
Dorf Ketal Chemicals LLC, USA Turnover:
USD 15 million
Dorf Ketal LtdA, Brazil Turnover:
USD 9 million
Matrix gencies, India Turnover:
Rs. 20.000 millions
Matrix Marketing Turnover:
Rs. 20.000 millions
Certificates Awarded to the Company:
ISO 9001:2000
ISO 14001:1996
Ohsas 18001
Product
Certification:
NSF for SRWT 1611
Profile
The company is high technology speciality chemical company that
understands the needs of the customer and uses a team-based aproach to serve
the needs of the customer in the areas of refineries, petrochemicals and
lubricant industries. This philosophy has given rise to a unique concept, which
is termed as 'Heads in Technology'.
Every customer is unique with their process design, operating practices
and needs. Hence, when approached by a customer to troubleshoot and fix a
problem the company do not offer a ready-made solution. Offering a tailor made
chemical program means involving process specialist, product scientist and
product application engineer.
Committed To Service
The company understands that when service is poor, every one loses. when
company's customers loses eventually the company also lose. Poor and mediocre
service has no redeeming virtue. Achieving service excellence is more
profitable and more conducive to a better future. Delivering the best possible
service, time after time, day after day and month after month is immensely
rewarding not just fanatically but spiritually too.
Committed to environment
After all its commitment to various projects like setting up a State
–of- the –Art Speciality Chemicals Manufacturing Plant, R and D Centre achieving
ISO 9001 Certificate, etc. it is now focused and committed to its Environment
issues.
Subject’s aim to avoid pollution is not just to comply with the
environmental legislation, but it is subject commitment to make planet earth a
safe and beautiful place to live on
Through the years humans have struggled with all of the waste subject
creat. During the Industrial Revolution, many solutions were discovered, yet
the same time subjects were producing more waste than ever. It has become
essential to find an affordable and effective way to dispose of its overbearing
waste. For years and years mankind has dumped their waste either in a landfill
or in the ocean. Dumping waste in the ocean is now banned because of the water
pollution, it adds to the natural ecosystem. Landfills are still used at all
over the world, but lately subject have been running out of space.
The effect of waste is both disgusting and dangerous to the fragile
balance of their environment. This project is with a vision to be the pioneers
in adopting and implementing new methods to control hazardous waste. Its
mission revolves around the idea of achieving results with more practical and
less tedious procedures.
Committed to quality
Some typical reactions
handled at a subject plants are:-
Ø Condensation
Ø Quarternisation
Ø Phosphonomethylation
Ø Vinyl Polymerisation
Ø Hydrogenation
Ø Ethoxylation
Ø Reliance Industries Limited
Near Old ICI Godown, Opposite FCO Canieen, Fossbury Road, Mumbai – 400
033, Maharashtra
Ø Godrej Industries Limited
Pirozsha Nagar, Eastern Express Highway, Vikhroli, Mumbai – 400 079,
Maharashtra
Tel. 91-22-2518 8010
Ø Indian Additives Limited
Ø Ciba Speciality Chemicals
Ø Alkyl Amines Private Limited
Ø Uniroyal Chemical Asia Pte. Limited, United
States of America
Ø BASF Alctiengeselschatt, Germany
Ø
Koa &
Company Limited, Japan
Press Release
Dorf Ketal Appoints Chemical Industry Veteran as New President in
Houston
William Loven to Scout and Integrate Acquisitions
HOUSTON, TX Oct. 08— Dorf Ketal Chemicals LLC, a leading global
additives and process chemicals company, has named William Loven as president,
lubes and additives, United States division. Loven will head the Mumbai,
India-based company’s integration of recent acquisitions and oversee renewed
expansion strategies.
“Bill brings decades of experience and relationships in the specialty
chemical industry to Dorf Ketal,” said Subodh Menon, president and CEO, Dorf
Ketal. “They brought him onboard to lead efforts in North America and continue
integrating their recent acquisitions. He possesses a solid track record in
driving growth and defining strategic acquisitions.”
Loven joins Dorf Ketal from Switzerland-based Sika North America, a
leading specialty chemicals supplier. During his six years with the company,
Loven served as president and CEO, North America, and senior vice president,
overseeing multiple divisions exceeding $350 million in annual revenues. Prior
to Sika, Loven served as general manager at Illinois Tool Works, Inc., a
Fortune 500 company. While there, Loven headed up the company’s Plexus
adhesives business unit.
“Dorf Ketal is developing and manufacturing an array of industry leading
specialty and process chemicals. The recent acquisition of ExxonMobil
Chemical’s component additives business positions the company for new growth
opportunities among independent lube oil manufacturers,” said Loven. “Their
focus includes further leveraging the products acquired from ExxonMobil,
evaluating other acquisitions and forwarding existing products portfolios.”
Dorf Ketal develops, tests and manufactures specialty chemicals for the
petrochemical, adhesive, paint and coatings industries. With few
exceptions, all products are produced in the company’s state-of-the-art plant
in Mumbai and sold through six major sales offices across the globe. The
company’s near-term plans include increasing involvement in key industry
associations, generating awareness of new product lines, evaluating potential
acquisitions and increasing sales.
“Dorf Ketal is well-positioned to continue its strategic expansion in
Houston and globally. They need to connect with the industry and build a
broader awareness of their research, testing and manufacturing capabilities,”
said Loven.
About Dorf Ketal Chemicals LLC
Dorf Ketal, headquartered in Mumbai, India, develops, tests and manufactures
specialty chemicals for the petrochemical, adhesive, paint and coating
industries. All products are produced in the company’s state-of-the-art
plant in Mumbai and sold through six major sales offices across the globe for
guaranteed delivery at competitive rates.
Dorf Ketal produces specialty chemicals for independent lube oil
manufacturers; a wide range of performance-engineered products for use in
refineries and for petrochemical treatment processes; and UOP refinery
chemicals and UOP plastic additives.
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.49.25 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
57 |
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 |
|