MIRA
INFORM REPORT
|
Report Date : |
05.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
KRYPTON INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Falta Special Economic Zone, Sector 1, Plot No. 31 and 32, P S Diamond
Harbour, 24 Parganas (South) – 743504, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.04.1990 |
|
|
|
|
Com. Reg. No.: |
21-048791 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.43.004 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25199WB1990PLC048791 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALK01120A |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of Multi-Cellular Polyurethane (MCP) Tubeless Cycle
Tyres. |
|
|
|
|
No. of Employees
: |
132 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 465000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory 1 : |
Falta Special Economic Zone, Sector 1, Plot No. 31 and 32, P S Diamond
Harbour, 24 Parganas (South) – 743504, West Bengal, India |
|
Tel. No.: |
91-31-74222227 |
|
Email : |
|
|
Website : |
|
|
|
|
|
Head Office : |
410, Vardaan Building, 25 A, Abanindra Nath Tagore Sarani, 4th
Floor, Kolkata – 700016, West Bengal, India |
|
Tel. No.: |
91-33-22871366 |
|
Fax No.: |
91-33-22871084 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
P.O. and Village Banganagar, Diamond Harbour Road, 24-Parganas (South)
– 743513, West Bengal, India |
|
Tel. No.: |
91-31-74241005 |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Jay S. Bardia |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Tansukh Gulgulia |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. T. C. Bachhawat |
|
Designation : |
Director |
|
|
|
|
Name : |
Ms. Punam Chand Daga |
|
Designation : |
Director (uptp 29.09.2010) |
|
|
|
|
Name : |
Mr. Pradeep Kumar Singh |
|
Designation : |
Director (w.e.f. 08.12.2010) |
KEY EXECUTIVES
|
Name : |
Mr. P. L. Bardia |
|
Designation : |
Chief Executive |
|
|
|
|
Name : |
Mr. Tapan Kumar Das |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2408441 |
20.74 |
|
|
2408441 |
20.74 |
|
|
|
|
|
|
324000 |
2.79 |
|
|
324000 |
2.79 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
2732411 |
23.53 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
7000 |
0.06 |
|
|
200 |
0.06 |
|
|
7200 |
0.06 |
|
|
|
|
|
|
1604850 |
13.82 |
|
|
|
|
|
|
2404350 |
20.71 |
|
|
3957602 |
34.08 |
|
|
904637 |
7.79 |
|
|
901606 |
7.77 |
|
Clearing Members |
3031 |
0.03 |
|
|
8871439 |
76.40 |
|
Total Public
shareholding (B) |
8878639 |
76.47 |
|
Total (A)+(B) |
11611080 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
-- |
-- |
|
Total
(A)+(B)+(C) |
11611080 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacturer of Multi-Cellular Polyurethane (MCP) Tubeless Cycle
Tyres. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
MCP Tyres Including ‘B’ Grade Tyres |
Nos |
860000 |
746820 |
|
Plastic Rim with Tyre |
Nos |
NA |
44828## |
|
PU Shoe Sole |
Pairs |
1200000 |
1044068 |
|
PU Sandal |
Pairs |
1200000 |
628798 |
*
Quantity not ascertainable.
##
Tyre and Rim Purchased from outside. C.Y. Include 44828 Nos. of Tyres,
assembled with Plastic Rims )
Notes:
i) Installed Capacity has been estimated by
the Management.
ii)
Production of Components being ancillary to the Manufacturing Activity, hence
quantity figures have not been stated.
GENERAL INFORMATION
|
No. of Employees : |
132 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Bank of Baroda, International Business Branch, 4, India Exchange
Place, Kolkata – 700001, West Bengal, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
Notes: * The
Cash/Packing Credit /Term Loan/ PSDL Loan from Bank of Baroda were Secured by
hypothecation of both present and future Stocks of Raw Materials,
Work-in-Progress, Finished Goods,hypothecation of D.P. Note,Book
Debts,Equitable mortgage of Land and Building/Factory Shed and hypothecation
of Plant and Machinery of the Company lying in and/or stored and/or installed
at any place in India or abroad. These loans were further secured by the
personal guarantees of Mr. J. S. Bardia, the Managing Director of the Company
alongwith the personal guarantee of Mr. T. S. Gulgulia(Director) and Mr. P.
C. Daga(Ex-Director), Directors of the Company. ** Car has been hypothecated with HDFC Bank, Axis bank and Kotak
Mahindra Prime Limited. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jagdish Agarwal and Associates Chartered Accountants |
|
Address : |
446, City Centre, 19, Synagogue Street, Kolkata – 700001, West Bengal,
India |
|
|
|
|
Subsidiaries : |
·
Eco Wheels Private Limited ·
Krypton Developers Limited ·
Krypton Industries (Suzhou) Company Limited |
CAPITAL STRUCTURE
After 28.09.2011
Authorised Capital :
Issued, Subscribed & Paid-up Capital : Rs.116.111
Millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4300400 |
Equity Shares |
Rs.10/- each |
Rs.43.004
Millions |
|
|
|
|
|
The above shares include 324000 equity shares of
Rs.10/- each which have been allotted as fully paid-up shares pursuant to a
contract without payment being received in Cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
43.004 |
43.004 |
43.004 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
73.321 |
66.296 |
57.714 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
116.325 |
109.300 |
100.718 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
69.556 |
59.841 |
64.978 |
|
|
2] Unsecured Loans |
61.215 |
61.414 |
36.530 |
|
|
TOTAL BORROWING |
130.771 |
121.255 |
101.508 |
|
|
DEFERRED TAX LIABILITIES |
2.961 |
2.550 |
3.452 |
|
|
|
|
|
|
|
|
TOTAL |
250.057 |
233.105 |
205.678 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
73.174 |
72.885 |
72.318 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
39.395 |
40.160 |
35.018 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
78.783
|
45.643 |
38.649 |
|
|
Sundry Debtors |
66.027
|
66.765 |
53.218 |
|
|
Cash & Bank Balances |
7.673
|
7.518 |
6.502 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
47.481
|
47.017 |
45.601 |
|
Total
Current Assets |
199.964
|
166.943 |
143.970 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
45.434
|
31.206 |
28.336 |
|
|
Other Current Liabilities |
15.345
|
15.654 |
17.222 |
|
|
Provisions |
1.697
|
0.023 |
0.070 |
|
Total
Current Liabilities |
62.476
|
46.883 |
45.628 |
|
|
Net Current Assets |
137.488
|
120.060 |
98.342 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
250.057 |
233.105 |
205.678 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
245.415 |
235.905 |
170.283 |
|
|
|
Other Income |
4.183 |
5.041 |
3.977 |
|
|
|
TOTAL (A) |
249.598 |
240.946 |
174.260 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
(Increase)/ Decrease in the Stock of
Finished Goods |
(15.341) |
4.728 |
5.604 |
|
|
|
(Increase)/ Decrease in the Stock of
Work in Progress |
(2.080) |
(0.369) |
(3.856) |
|
|
|
(Increase)/ Decrease in the Stock of
Trading Goods |
(0.604) |
(0.038) |
0.012 |
|
|
|
Upper (Produced Raw Materials) |
(3.846) |
(4.146) |
|
|
|
|
Excise Duty & Cess on Stock |
0.193 |
0.028 |
(0.105) |
|
|
|
Capital Loss on sale of Shares |
0.690 |
0.000 |
0.077 |
|
|
|
Purchase of Trading Goods |
5.449 |
3.448 |
0.292 |
|
|
|
Raw Materials Consumed |
142.966 |
128.888 |
96.041 |
|
|
|
Cost of Raw Material Sold |
0.834 |
4.663 |
0.122 |
|
|
|
Cost of Consumable Sold |
0.111 |
0.037 |
0.022 |
|
|
|
Manufacturing, Selling
and Administrative Expenses |
83.490 |
72.844 |
52.527 |
|
|
|
Prior Period
Items |
(0.003) |
0.000 |
|
|
|
|
Right Share
Issue Expenses |
3.465 |
0.419 |
|
|
|
|
TOTAL (B) |
215.322 |
210.502 |
150.736 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.275 |
30.444 |
23.524 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
14.593 |
12.443 |
10.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.682 |
18.001 |
13.445 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.918 |
6.669 |
9.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
12.765 |
11.332 |
4.332 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.741 |
2.750 |
2.885 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
7.024 |
8.582 |
1.447 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
59.089 |
50.936 |
49.561 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
0.000 |
0.429 |
0.072 |
|
|
BALANCE CARRIED
TO THE B/S |
66.113 |
59.089 |
50.936 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales - Overseas |
88.192
|
92.073 |
50.846 |
|
|
TOTAL EARNINGS |
88.192 |
180.265 |
50.846 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials & Components & Trading Goods |
55.779
|
67.580 |
41.458 |
|
|
|
Store, Spare Parts & Components |
0.898
|
0.849 |
0.000 |
|
|
|
Capital Goods |
1.849
|
2.834 |
3.228 |
|
|
TOTAL IMPORTS |
58.526 |
71.263 |
44.686 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.63 |
2.00 |
0.34 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2011 |
30.09.2011 |
|
|
|
1st
Quarter |
2nd
Quarter |
|
|
|
UnAudited |
UnAudited |
|
Net Sales |
|
70.680 |
107.670 |
|
Total Expenditure |
|
69.040 |
101.940 |
|
PBIDT (Excl OI) |
|
1.640 |
5.730 |
|
Other Income |
|
2.940 |
3.860 |
|
Operating Profit |
|
4.580 |
9.590 |
|
Interest |
|
1.920 |
4.300 |
|
Exceptional
Items |
|
0.000 |
0.000 |
|
PBDT |
|
2.660 |
5.290 |
|
Depreciation |
|
1.100 |
1.800 |
|
Profit Before
Tax |
|
1.560 |
3.490 |
|
Tax |
|
0.700 |
0.900 |
|
Provision and
contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
0.860 |
2.590 |
|
Extraordinary
Items |
|
0.000 |
0.000 |
|
Prior Period
Expenses |
|
0.000 |
0.000 |
|
Other
Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
0.860 |
2.590 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.81
|
3.56 |
0.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.20
|
4.80 |
2.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.67
|
4.72 |
2.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.10 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.66
|
1.54 |
1.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.20
|
3.56 |
3.16 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
During the year, the company achieved an aggregate income of Rs.249.598
Millions.
SUBSIDIARY COMPANIES
The Company has three subsidiary companies, the details of which are as
follows :
1) Eco Wheels Private Limited. : 827100 Equity shares of Rs.10 each as
fully paid up
2) Krypton Developers Limited. : 49400 Equity shares of Rs.10 each as
fully paid up
3) Krypton Industries (Suzhou) Company Limited: 100% capital investment.
The Ministry of
Corporate Affairs vide General Circular No. 2/2011 dated 8th February, 2011 has
granted general exemption to companies seeking approval of Central Government
under section 212 (8) of the Companies Act, 1956 from annexing to this report
the Annual Reports of the subsidiaries subject to compliance of certain
conditions specified therein. The Board Resolution for availing above exemption
has been passed on 12th day of August, 2011. Hence, the Annual Reports of the
subsidiary companies have not been annexed herewith. The Company has presented
in the annual report, the consolidated financial statement of holding company
and all its subsidiaries duly audited by the statutory auditor, which has been
prepared in compliance with applicable accounting standards and, were
applicable, listing agreement. The Company has disclosed in the consolidated
balance sheet the following information in aggregate for each subsidiaries viz.
capital reserves, total assets, total liabilities, details of investment,
turnover, profit before taxation, provision for taxation, profit after taxation
and proposed dividend etc. which have been disclosed at other place of annual
report. Annual Accounts of the subsidiary companies and related detailed other
information shall be made available to the members seeking such information and
shall also be kept open for inspection at the Head Office of the Company by any
member during working hours.
OPERATIONAL REVIEW
A review on division wise performance of the company is furnished
below:-
Tyre Division
The total income
of the tyre division for the year 2010-11 amounted to Rs.116.439 Millions
compared to Rs.127.703 Millions of in the previous year i.e. the total income
has decreased by about 8.82 %. The profit before tax amounted to Rs.5.289
Millions as compared to Rs.7.925 Millions which was substantially down by
Rs.2.636 Millions as compared to the previous year. The directors hope for a
better performance in the forthcoming year.
Footwear Division
The total income
of the Unit amounted to Rs.133.375 Millions as compared to Rs.113.242 Millions in
the previous year i.e. the total income has increased by about 17.78%.The unit
reported a profit before tax of Rs.7.549 Millions during the year compared to
Rs.3.407 Millions in the previous year i.e. the Profit before tax increased by
about 121.57%. The performance of the footwear division has shown marked
improvement and it is expected to do better business in future.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management Discussion and Analysis Report as required Listing agreement
with Stock Exchange:-
A. Industry Structure and Developments:-
Krypton has posted
a very good year with respect to sales growth and particularly good year for
local market network expansion. The distribution network will key focus area
for this year also.
The tyre and wheels
business is continuously growing. Their customer base has also increased in
international as well as domestic market. The overall performance of this
division should have been much better but is effected by increased raw material
prices.
The China unit has
performed better than last year. The unit is already under process of sale and
the sale will be concluded as soon as the permission is received.
The footwear
division has already set on a growth path. Krypton has received very good
customer response and demand for its products. The complete footwear is
becoming more popular as compare to the footwear component, Shoe sole,
business. This trend will continue this year and krypton will launch newer
products in coming months to strengthen its position further in the Eastern
India market. Krypton is working with very big OEM customers and also selling
its own products through dealership network.
The medical
equipment business has grown further facing stiff competition with cheap
Chinese import. Over the last year the import from China has become more
expensive and the quality of their products has been appreciated by the
customers. This has helped the business to get a very good foothold in the
market and the good quality reputation is bringing better sales.
B. Outlook and
opportunities
The Company has
identified the following opportunities and future building business areas:
1. Krypton has a
clear opportunity to become a significant player in the Footwear market,
Medical equipment market and of course creating a bigger market for its MCP
tubeless tyre business in India. This opportunity provide us to grow at a rapid
pace. This will be supported by the new investment into expanding capacities
which will be completed by the year 2011.
2. Enhancing the Sales
and distribution network in India rapidly but with control for all its
products, after the current penetration and acceptance by the market, will be
the most important task for the company which will help the company to become
widely known and delivering better performance.
3. A wide market
presence along with promotional activities will help Krypton the brand better
know in the market. The footwear will also use KRYTPON brand name for all its
premium product apart from SOFTFLEX brand. The medical equipment division which
sell its products under "iCARE" brand name will also use Krypton name
to identify itself as part of Krypton.
4. The expansion
program was delayed due to delay in rights issue. Now the right issue is
successfully completed, the implementation of its expansion program has already
started. Company is expecting to complete the expansion of Tyres and footwear
production capacities by the end of year 2011. The capacities will be fully
operation to support the increased demand.
The debottlenecking
of medical equipment production unit is underway and should be completed by
November 2011. This will help the unit to adapt more flexible production system
which can make different products simultaneously without effecting overall
productivity. This will allow the unit to shorten delivery cycle, reduce
inventory and better service to their customers.
Contingent
Liabilities not provided in respect of :-
(a) Bank Guarantee Rs.1.248
Millions (Previous year Rs.1.204 Millions)
(b) Export Bills discounted with bank Rs.10.025 Millions (Previous year Rs.14.919 Millions)
(c) Letter of Credit Rs.6.708 Millions (Previous year Rs.594.762 Millions)
(d) Corporate Guarantee has been given to Bank of Baroda
for Loan taken by subsidiary M/s. Eco Wheels Private Limited.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Electric Installation
·
Office Equipments
·
Vehicles
·
Furniture, Fixtures and Fittings
BUSINESS DESCRIPTION
Subject is an India-based company. The Company is engaged in
the manufacturing and sale of tubeless tyres and other products footwear, in
Falta special economic zone and Banganagar (West Bengal). The Company operates
in two segments: Tire and Footwear. The Company’s products include MCP tubeless
tyres, polyurethane (PU) shoe soles and PU sandles. The Company’s subsidiaries
include Eco wheels Pvt. Limited, Krypton Developers Limited and Krypton
Industries (Suzhou) Company Limited For the nine months ended 31 December 2010,
Krypton Industries Limited's revenues increased 26% to RS289.1M. Net income
decreased 12% to Rs.12.600 Millions. Revenue reflects an increase in income
from Tyre Rims and Wheels segment, higher income from Footware segment and an
increase in income from Hospital Equipment segment. Net income was offset by an
increase in consumption of raw materials, higher trading goods purchase and
increased staff cost.
BOARD
OF DIRECTORS
Jay Singh Bardia
(Executive Chairman of the Board, Managing Director)
Shri. Jay Singh Bardia is Executive Chairman of the Board, Managing Director of subject. He is a Bachelor of Engineering (Electrical) and has experience of more than 15 years in the field of the Tyre manufacturing. He joined the Company on 1st October, 1992 as Additional Director and moved on to become the Managing Director of the Company in the year 1993.He is continuing as Managing Director since then.
Tilok Chand Bachhawat
(Independent Non-Executive Director)
Shri. Tilok Chand Bachhawat, FCA, is Independent Non-Executive Director of subject. He is a Chartered Accountant having more than 30 years of experience. His basic experience is in the techno-financial field.
Tansukh S. Gulgulia
(Independent Non-Executive Director)
Shri. Tansukh S. Gulgulia, LLB, is Independent Non-Executive Director of subject. He is Bachelor of Commerce in Honours and Bachelor of Law (LLB). He is a Practicing Tax Consultant having more than 25 years of experience. The company regularly avails his guidance on Income Tax and other legal matters. His guidance and advices has contributed a lot in the progress of the company.
PRESS RELEASES
Krypton Industries gets nod for proposed scheme of
amalgamation
India, November 21 -- Krypton Industries has received an approval for proposed scheme of amalgamation of Eco Wheels, a subsidiary company, Krypton Tyres and Barons Polymers with the company. The board at its meeting held on November 19, 2011 has given in-principle approval for the same. Krypton Industries produces multi-cellular polyurethane tubeless cycle tires with technical knowhow obtained from Poly Air Tires of Canada. It has been manufacturing various OEM components and spare parts for the Rehab Care, Industrial segment and Bicycle Industry.
Board Meeting on December 05, 2011
India, November 30
-- Krypton Industries Limited has informed BSE that a meeting of the Board of
Directors of the Company will be held on December 05, 2011, inter alia, to
consider and approve the Draft Scheme of Amalgamation of M/s. Eco Wheels Pvt.
Limited (a subsidiary Company), M/s. Krypton Tyres Limited and M/s. Barons
Polymers Pvt. Limited with Krypton Industries Limited ("the
Company").
Updates on Consolidated Financial Results for the
Quarter ended September 30, 2011
India, November 18 -- With reference to the earlier announcement regarding Financial Result for the Quarter ended September 30, 2011, Krypton Industries Limited has now informed BSE that the figures of the paid-up equity share capital for the quarter ended on September 30, 2011 and half year ended on September 30, 2011 in the Unaudited Consolidated Financial results was inadvertently shown as Rs.43.004 Millions instead of Rs.116.111 Millions. Further, the figures of Basic and Diluted EPS for the quarter ended on September 30, 2011 and half year ended on September 30, 2011 should be 0.05 and 0.30 respectively instead of 0.13 and 0.80 respectively.
Krypton Industries changes compliance officer
India, August 19 -- Krypton Industries has informed that in place of Vidushi Bhalotia, Tarun Kumar Das been appointed as company secretary of the company with effect from August 01, 2011. Moreover henceforth he will be acting as compliance officer. The above information is part of the company's filing submitted to the BSE.
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] 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.51.35 |
|
|
1 |
Rs.80.51 |
|
Euro |
1 |
Rs.69.14 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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.