MIRA
INFORM REPORT
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Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
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Name : |
KOHLICO FOODS AND BEVERAGES PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
24.12.2002 |
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Com. Reg. No.: |
11-138391 |
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Paid-up Capital
: |
Rs. 4.400 Millions |
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CIN No.: [Company Identification
No.] |
U51220MH2002PTC138391 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK10490E MUMK12466G |
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PAN No.: [Permanent Account No.] |
AACCK0019J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter of various food products and beverages |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 45000 |
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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 an established company having satisfactory track records.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-22-66359109/56357140/ 66359976 |
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Fax No.: |
91-22-23448508/23448508 |
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E-Mail : |
DIRECTORS
As On 30.09.2010
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Name : |
Mr. Ranbikraur Manmohansingh Kohli |
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Designation : |
Director |
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Address : |
Flat No. 65, 6th Floor, 41 Oshiwara Complex, |
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Date of Birth/Age : |
13.08.1950 |
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Date of Appointment : |
15.10.2006 |
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Date of Cessation : |
22.07.2010 |
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DIN No.: |
01263543 |
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Name : |
Mr. Amandeep Manmohansingh Kohli |
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Designation : |
Director |
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Address : |
Flat No. 65, 6th Floor, 41 Oshiwara Complex, |
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Date of Birth/Age : |
21.03.1984 |
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Date of Appointment : |
24.12.2002 |
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DIN No.: |
01263531 |
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Name : |
Mr. Manmohansingh Piyrasingh Kohli |
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Designation : |
Additional Director |
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Address : |
Leoorchid, Room No. 401, 4th Floor, |
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Date of Birth/Age : |
31.12.1945 |
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Date of Appointment : |
22.06.2010 |
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DIN No.: |
03103581 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Amandeep Kohli |
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31000 |
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Ranbirkaur Kohli |
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13000 |
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Total |
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44000 |
As On 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Exporter of food products and beverages |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R. A. Jagtap and Company Chartered Accountant |
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Address : |
427, Parekh Market, 39, |
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Pan No.: |
AADPJ5934H |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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45000 |
Equity Shares |
Rs. 100/- each |
Rs. 4.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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44000 |
Equity Shares |
Rs. 100/- each |
Rs. 4.400 Millions
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.400 |
4.400 |
4.400 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.870 |
4.733 |
2.522 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.270 |
9.133 |
6.922 |
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LOAN FUNDS |
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1] Secured Loans |
14.569 |
33.573 |
42.719 |
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2] Unsecured Loans |
22.108 |
10.114 |
5.929 |
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TOTAL BORROWING |
36.677 |
43.687 |
48.648 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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0 |
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TOTAL |
47.947 |
52.820 |
55.570 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.389 |
6.199 |
6.044 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
0.001 |
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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 |
18.608
|
18.240 |
6.317 |
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Sundry Debtors |
49.052
|
41.957 |
34.677 |
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Cash & Bank Balances |
1.396
|
4.174 |
4.883 |
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Other Current Assets |
12.098
|
10.401 |
8.164 |
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Loans & Advances |
14.985
|
8.934 |
8.621 |
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Total
Current Assets |
96.139
|
83.706 |
62.662 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
40.663
|
34.036 |
7.357 |
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Other Current Liabilities |
0.104
|
0.104 |
4.267 |
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Provisions |
13.815
|
2.946 |
1.513 |
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Total
Current Liabilities |
54.582
|
37.086 |
13.137 |
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Net Current Assets |
41.557
|
4.662 |
49.525 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
47.947 |
52.820 |
55.570 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
267.151 |
206.751 |
94.274 |
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Other Income |
1.675 |
3.319 |
5.564 |
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TOTAL (A) |
268.826 |
210.070 |
99.838 |
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Less |
EXPENSES |
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Cost of Goods Sold |
197.924 |
156.662 |
68.115 |
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Staff Salary |
1.053 |
0.910 |
0.774 |
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Travilling |
0.184 |
0.081 |
0.556 |
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Freight Inward |
5.216 |
2.001 |
1.526 |
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Clearing Forwarding Charges |
5.018 |
2.191 |
1.411 |
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Other Expenses |
51.402 |
39.486 |
22.589 |
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TOTAL (B) |
260.797 |
201.331 |
94.971 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.029 |
8.739 |
4.867 |
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Less |
FINANCIAL
EXPENSES (D) |
3.432 |
4.779 |
3.056 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.597 |
3.960 |
1.811 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.659 |
0.638 |
0.154 |
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PROFIT BEFORE
TAX (E-F) (G) |
3.938 |
3.322 |
1.657 |
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Less |
TAX (I) |
1.801 |
1.111 |
0.583 |
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PROFIT AFTER TAX
(G-I) (J) |
2.137 |
2.211 |
1.074 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.733 |
2.522 |
1.448 |
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BALANCE CARRIED
TO THE B/S |
6.870 |
4.733 |
2.522 |
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Earnings Per
Share (Rs.) |
|
51.95 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.79
|
1.05 |
0.58 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.47
|
1.61 |
1.76 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.84
|
3.70 |
2.41 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.35
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0.36 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
|
8.10
|
8.84 |
8.93 |
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Current Ratio (Current Asset/Current Liability) |
|
1.76
|
2.26 |
4.77 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered office of the company has been shifted from Flat No. 65
Movie Towers 41 Oshiwara Complex, Andheri West, Mumbai – 400053,
Form 8:
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Corporate
identity number of the company |
U51220MH2002PTC138391 |
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Name of the
company |
KOHLICO FOODS AND
BEVERAGES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
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This form is for |
Modification of
charge |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
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Nature of
instrument creating charge |
Memorandum of
Entry |
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Date of
instrument Creating the charge |
01.07.2010 |
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Amount secured by
the charge |
Rs. 75.490
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Credit Facility. Interest /
Commission - As agreed by and with the Bank from time to time. Terms of
Repayment - As agreed by and with the Bank from time to time. Margin - As
applicable, if any Extent and
Operation of the charge - The Bank is having first charge on security given
by the Company Others - The
Company provided security to Bank for extending credit facility to following
borrower - 1) The Company -
Rs.51.930 millions 2) Amandeep Singh
Kohli - Rs.23.560 millions Aggregating
Rs.75.490 millions |
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Particulars of
the property charged |
All that piece and
parcel of property being commercial premises unit nos.1 admeasuring 300 sq
feet built up area and uni no.2 admeasuring 300 sq feet built up area both on
1st floor, plot no. 391 Mahesh Chambers, Masjid Bunder, Mumbai 400 009. |
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Particulars of
the present modification |
The existing
charge of Rs.51.930 Millions enhanced to Rs.75.490 Millions. Out of Rs.75.490
Millions, the amount of Rs.51.930 is already secured with hypothecation of
stocks, book debts and movable fixed assets vide Hypothecation Agreement
dated 27.04.2010. Now, the same amount is also securing with immovable
properties of the company. The facility extended to Mr. Amandeep Singh Kohli
for Rs.23.560 Millions is also now secured with immovable properties of the
company. |
Fixed Assets:
- Computer
- Motor car
- Innova car
- Air conditioner
- Furniture and fixture
- Office equipment
- Office premises
- Nikamal crate
- Electronic weighing scale
- Electronic scale
- Mould (dye)
- Augur and form filling machine
- Fan
- Scanner
- Sealing machine
- Xerox
- Tray
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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] 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.45.27 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.