BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
N K PROTEINS LIMITED |
Principal Name 1 |
MR. NILESH KESHVLAL PATEL |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. KAMLESH LALBHAI PATEL |
|
|
|
Registration # |
04-17403 |
|
Street Address |
7TH FLOOR, POPULAR HOUSE, |
||
|
Established Date |
27.03.1992 |
SIC Code |
-- |
|
Telephone# |
91-79-66309999 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
91-79-66309913/ 66309907 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
EDIBLE OIL |
|
|
# of employees |
-- |
Product Name 2 |
ALLIED PRODUCTS |
|
Paid up capital |
Rs.64,695,000/- |
Product Name 3 |
-- |
|
Shareholders |
BODIES CORPORATE-4.64% DIRECTORS OR RELATIVES OF DIRECTORS-74.29% OTHER TOP FIFTY (50) SHAREHOLDERS-21.07% |
Banking |
THE KALUPUR COMMERCIAL
CO-OPERATIVE BANK LIMITED |
|
Public Limited Corp. |
NO |
Business Period |
18 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
ASSOCIATES/SUBSIDIARIES |
-- |
N.K. INDUSTRIES LIMITED |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,225,479,000
|
Current Liabilities |
1,731,920,000
|
|
Inventories |
1,148,246,000
|
Long-term Liabilities |
254,656,000 |
|
Fixed Assets |
289,281,000 |
Other Liabilities |
110,689,000
|
|
Deferred Assets |
3,036,000 |
Total Liabilities |
2,097,265,000 |
|
Invest& other Assets |
23,464,000 |
Retained Earnings |
527,546,000 |
|
|
|
Net Worth |
592,241,000 |
|
Total Assets |
2,689,506,000 |
Total Liab. & Equity |
2,689,506,000 |
|
Total Assets (Previous Year) |
1,460,135,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
14,510,219,000 |
Net Profit |
101,950,000 |
|
Sales(Previous yr) |
14,091,968,000 |
Net Profit(Prev.yr) |
72,390,000 |
MIRA
INFORM REPORT
|
Report Date : |
29.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
N K PROTEINS LIMITED (w.e.f 19.02.1993) |
|
|
|
|
Formerly Known
As : |
MARUTI PROTEINS LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Popular House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
27.03.1992 |
|
|
|
|
Com. Reg. No.: |
04-17403 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25499GJ1992PLC017403 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMN00125G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN9377N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Edible Oil and Allied Products. |
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 2369000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
Relations are reported on 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Alpesh A Patel |
|
Designation : |
Accountant |
LOCATIONS
|
Registered Office : |
7th Floor, Popular House, |
|
Tel. No.: |
91-79-66309999 |
|
Fax No.: |
91-79-66309913/ 66309907 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No. 880, |
|
Tel. No.: |
91-2764-274247 to 51 |
|
Fax No. : |
91-2764-274226 |
|
E-Mail : |
DIRECTORS
As On 30.09.2010
|
Name : |
Mr. Nilesh Keshvlal Patel |
|
Designation : |
Managing Director |
|
Address : |
13/B, Dariapur Patel Society, Usmanpura, Ahmedabad-380013, |
|
Date of Birth/Age : |
23.03.1965 |
|
Qualification : |
Graduation |
|
Experience : |
18 Years |
|
Date of Appointment : |
15.05.1995 |
|
DIN No. : |
00244115 |
|
|
|
|
Name : |
Mr. Kamlesh Lalbhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
6, Devansh Bunglows, Thaltesj, Ahmedabad-380054, |
|
Date of Birth/Age : |
01.05.1960 |
|
Date of Appointment : |
01.03.1994 |
|
DIN No. : |
00244798 |
|
|
|
|
Name : |
Mr. Nimishbhai Keshvlal Patel |
|
Designation : |
Managing Director |
|
Address : |
41, Ashwamegh Bunglow, Scheme No. 3, Satellite, Ahmedabad-3800015, |
|
Date of Birth/Age : |
19.11.1960 |
|
Qualification : |
Graduation |
|
Experience : |
18 Years |
|
Date of Appointment : |
11.01.1996 |
|
DIN No. : |
00240621 |
|
|
|
|
Name : |
Mr. Jayesh Pannalal Choksi |
|
Designation : |
Director |
|
Address : |
Siddhi Priya JV and D Scheme,
Vile Parle (West), Mumbai-400056, |
|
Date of Birth/Age : |
29.03.1954 |
|
Date of Appointment : |
16.06.2001 |
|
DIN No. : |
00001729 |
KEY EXECUTIVES
|
Name : |
Mr. Alpesh A Patel |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Mr. Manish Purushottamdas Kella |
|
Designation : |
Company Secretary |
|
Address : |
6, Aditya Apartment, 20 Jaihind Society, Ranbaug, Maninagar, Ahmedabad
– 380008, |
|
Date of Birth/Age : |
17.09.1971 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No. : |
ADPPK8989E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sonalben N Patel Jointly with Ashitaben N Patel |
|
3503085 |
|
Ashitaben N Patel |
|
238655 |
|
Sonalben N Pael |
|
230365 |
|
Priyanshi N. Patel |
|
138250 |
|
Venushri N. Patel |
|
137770 |
|
Vedanshri N. Patel |
|
136720 |
|
Priyam N. Patel |
|
136010 |
|
K. V. Patel HUF |
|
16500 |
|
Nimishbhai K. Patel |
|
134550 |
|
Nileshbhai K. Patel |
|
134550 |
|
Jayesh P. Choksi |
|
1167375 |
|
Pranav J. Choksi |
|
150000 |
|
Gomtiben K. Patel |
|
13000 |
|
Kamlesh L. Patel |
|
10100 |
|
Gomtiben K. Patel |
|
5000 |
|
Gomtiben K. Patel |
|
5000 |
|
Anant B. Patel |
|
3500 |
|
Rekhaben A. Patel |
|
3500 |
|
Lalbhai S. Patel |
|
2400 |
|
Truptiben K. Patel |
|
1750 |
|
Jashmatiben K. Patel |
|
900 |
|
Vaishnavi D. Patel |
|
220 |
|
Rajvi M. Todi |
|
100 |
|
Darshanbhai B. Patel |
|
100 |
|
Baldevbhai R. Patel |
|
100 |
|
Zircon Fin. & Leasing Private Limited – |
|
150000 |
|
Gufic Limited – |
|
150000 |
|
Total |
|
6469500 |
As On 30.09.2010
|
Category |
|
Percentage of
Holding |
|
Bodies corporate (not mentioned above) |
|
4.64 |
|
Directors or relatives of directors |
|
74.29 |
|
Other top fifty (50) shareholders (other than listed above) |
|
21.07 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Edible Oil and Allied Products. |
|
|
|
|
Brand Names : |
“TIRUPATI” |
GENERAL INFORMATION
|
Bankers : |
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Facilities : |
* Specific data is not disclosed as deposits are agreed to be
repayable on demand |
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|
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Banking
Relations : |
-- |
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|
|
|
Financial Institute: |
Sundaram Finance Limited, No. 21, |
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|
|
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Auditors : |
|
|
Name : |
S V Ghatalia and Associates Chartered Accountant |
|
Address : |
2nd Floor, Shivalik Ishaan, Near CN Vidhyalaya, Ambawadi,
Ahemedabad-3800015, |
|
Pan No. : |
AACFS6921Q |
|
|
|
|
Associates/Subsidiaries : |
·
N.K. Industries Limited ·
N.K. Roadways Private Limited ·
Shanti Stock Holdings Private Limited ·
N.K. Estate Developers Private Limited ·
N.K Oil Mills Private Limited ·
N.K. Corporation, Partnership ·
N.K. Aviation ·
N.K. Flour Mills Limited ·
Tirupati Proteins Private Limited ·
Tirupati Retails India Private Limited ·
Adrenal Advertising and Promotions Private
Limited ·
Gufic Broscience Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6469500 |
Equity Shares |
Rs.10/- each |
Rs.64.695
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
64.695 |
64.695 |
64.695 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
527.546 |
425.596 |
353.206 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
592.241 |
490.291 |
417.901 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
118.199 |
29.897 |
20.898 |
|
|
2] Unsecured Loans |
136.457 |
123.743 |
76.262 |
|
|
TOTAL BORROWING |
254.656 |
153.640 |
97.160 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
11.715 |
|
|
|
|
|
|
|
|
TOTAL |
846.897 |
643.931 |
526.776 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
289.281 |
196.224 |
155.268 |
|
|
Capital work-in-progress |
19.345 |
65.238 |
43.349 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.119 |
1.843 |
0.058 |
|
|
DEFERREX TAX ASSETS |
3.036 |
6.229 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1148.246
|
402.679
|
202.066 |
|
|
Sundry Debtors |
321.437
|
481.648
|
315.669 |
|
|
Cash & Bank Balances |
359.423
|
71.792
|
61.141 |
|
|
Other Current Assets |
155.806
|
0.000
|
0.000 |
|
|
Loans & Advances |
388.813
|
234.482
|
178.890 |
|
Total
Current Assets |
2373.725
|
1190.601
|
757.766 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1600.316 |
623.068 |
357.649 |
|
|
Other Current Liabilities |
131.604
|
36.674
|
21.913 |
|
|
Provisions |
110.689
|
156.462
|
50.103 |
|
Total
Current Liabilities |
1842.609
|
816.204
|
429.665 |
|
|
Net Current Assets |
531.116
|
374.397
|
328.101 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
846.897 |
643.931 |
526.776 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14510.219 |
14091.968 |
13100.411 |
|
|
|
Other Income |
370.127 |
147.747 |
50.050 |
|
|
|
TOTAL (A) |
14880.346 |
14239.715 |
13150.461 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Trading Goods |
6758.568 |
1687.001 |
894.788 |
|
|
|
Raw Material Consumed |
7203.183 |
11717.152 |
11634.793 |
|
|
|
Manufacturing Expenses |
178.732 |
271.794 |
297.812 |
|
|
|
Personnel Expenses |
63.389 |
47.989 |
28.698 |
|
|
|
Administrative and Selling Expenses |
382.772 |
290.473 |
179.147 |
|
|
|
Prior Period Expenses |
2.336 |
13.410 |
0.977 |
|
|
|
TOTAL (B) |
14588.980 |
14027.819 |
13036.215 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
291.366 |
211.896 |
114.246 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
85.499 |
46.485 |
14.467 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
205.867 |
165.411 |
99.779 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
40.724 |
30.493 |
32.904 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
165.143 |
134.918 |
66.875 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
63.193 |
62.528 |
26.870 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
101.950 |
72.390 |
40.005 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
262.960 |
190.570 |
150.565 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
364.910 |
262.960 |
190.570 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3926.978 |
82.381 |
55.552 |
|
|
TOTAL EARNINGS |
3926.978 |
82.381 |
55.552 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
810.047 |
3.617 |
-- |
|
|
TOTAL IMPORTS |
810.047 |
3.617 |
-- |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.76 |
11.19 |
6.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.68
|
0.51
|
0.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.14
|
0.96
|
0.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.20
|
9.73
|
7.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.28
|
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.54
|
1.98
|
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29
|
1.46
|
1.76 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
During the year,
turnover is increased to Rs.14510.200 millions compared to Rs.14092.000
millions during 2008-09 showing an increase of 2.97 % over the previous year.
Although there were volatile price fluctuation and lot of competition both in
edible and non-edible business, the Company could increase its profit after
providing depreciation and income tax to Rs.102.000 millions from Rs.72.400
millions showing an increase of 40.88 %. Once the need-based working funds are
available from the banking channel, the Company can achieve a substantial
growth and also profit.
Bankers Charges
Report as per Registry
|
Name of the company |
N K PROTEINS LIMITED |
|
Presented By |
Sundaram Finance Limited, No. 21, |
|
1) Date and description of instrument creating the change |
Loan Agreement Dated 07.07.2001 Loan Cont. No. TG-0091 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.080 Millions inclusive of finance charges of Rs. 0.180 Million |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
On the Security of 1. No. 2001 Model, Tata Tanker |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The total amount of Rs. 1.080 Millions is repayable in 35 monthly installments as follows :- the 1st installment of Rs. 0.032 Million and the rest of the 34 monthly installments of Rs, 0.031 Million each The 1st hire money falls due on 28.07.2001 |
|
5) Name and Address and description of the person entitled to the charge. |
Sundaram Finance Limited, No. 21, |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
Corporate
identity number of the company |
U25499GJ1992PLC017403 |
|
Name of the
company |
N K PROTEINS LIMITED |
|
Address of the
registered office or of the principal place of business in |
7th Floor, Popular House, Ashram Road, Ahmedabad-380009,
Gujarat, India |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
10168774 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
The Kalupur Commercial Co-Operative Bank Limited, Kalupur Bank Bhavan,
E-mail: pjpatel.ho@kalupurbank.com |
|
Nature of instrument
creating charge |
Article of
Agreement for Credit Facilities Against Hypothecation of Machinery as Collateral Security |
|
Date of
instrument Creating the charge |
26.06.2010 |
|
Amount secured by
the charge |
Rs. 500.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As Prescribed by
the Bank with Monthly Rest Terms of
Repayment Subject to
Renewal From time to time Margin As may be
stipulated by the bank form time to time Extent and
Operation of the charge Exclusive charge
in favour of The Kalupur Commercial Co-Operative Bank Limited |
|
Particulars of
the property charged |
All the
machineries lying in or about the factory premises at plot no. |
|
Date of
instrument modifying the charge |
10.05.2010 |
|
Particulars of
the present modification |
Financial
assistance to the extent of Rs. 500.000 millions provided by Kalupur
Commercial Co-Operative Bank also secured by hypothecation of machinery as
collateral security |
FIXED ASSETS:
·
·
·
·
Plant and Machinery
·
Windmill
·
Electric Installations
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Factory Equipments
·
Vehicles
·
Telephone Installations
·
Computer Software
WEBSITE DETAILS:
Profile:
Subject was originally
incorporated on 27.03.92 in the name of Maruti Proteins Limited the name of the
company was changed to N K Proteins Limited w.e.f 19-02-1993 which is an
existing profit making Company, promoted by Shri Nimish K Patel and Shri Nilesh
K Patel.
ISO 22000:5000.
Subject is currently engaged in
the business of Refining edible oils viz, Cotton Seed Oil, Palmoilen, Sunflower
Oil, Groundnut Oil and Vegetable Oils including seed processing and solvent
extraction and trading in edible / non - edible oils.
The promoters started this business in 1992 and have come a
long way in establishing the fortune of the N K Group in the past 18 years. The
promoters are successfully running the existing business which has a capacity
of 450 M.T per day of refining.
Subject markets edible oils under the brand name of “TIRUPATI”
which is distributed and sold through the wholesale and retail chain of
domestic market. NKPL also supplies refined edible oils to the Government
Organization on a regular basis.
Subject is accorded the status of STAR EXPORT HOUSE and
is exporting Castor Oil, its derivatives and De-oiled cakes to various
countries worldwide.
The present operations of the Company may be broadly
categorized under four heads:
·
Manufacturing ( Refining )
·
Marketing
·
Trading
·
Exports
The Company, for its trading operations, sources from
domestic / international market various vegetable oils in either crude or
refined form and sells them either directly or through brokers.
Purchases are made at competitive rates and procured either
directly or through brokers. As regards raw materials the Company buys Wash
Cottonseed Oil, and Castor seeds from local market and purchases Crude Palm and
Soya oil and Sunflower Oil on high seas basis. These are sold in the domestic
market after crushing, extraction, and refining or through direct trading.
Purchases are made at competitive rates.
Exports are made to various countries worldwide.
Technology and Manufacturing
The Company has the most integrated automatic and continuous
plant from Alfa Laval, based in
Refinery Plant, the technology to refine crude
edible oil is a tested one and not very complex. Most of the suppliers offer
the process plants that are broadly similar – variation being in the sizes and
detailed specifications. However, through addition of certain equipment, it is
possible to impart greater flexibility in terms of the types of crude oils
which can be processed and decrease the process losses.
They have well established in house R and D department and
supported by well –equipped and scientific testing equipments like Gas
Chromatograph etc.
MANAGEMENT:
Mr. Nimish Patel
Chairman and
Managing Director
Has over 25 years of experience in castor oil and edible oil
business. He is a visionary and provides direction to the company. He has been
instrumental in the company’s growth and is aggressive in his policies and
strategies. Apart from the above, he looks after marketing, both domestic and
overseas, as well as the finances of companies under the flagship of N K Group
of Companies.
Mr. Nilesh Patel
Managing
Director
Has over two decades of experience in castor oil and edible
oil business. With his in depth knowledge of the market and the analysis based on
it, he has developed expertise in the areas of material procurement and
marketing. He also looks into the financial aspects of N K Group of Companies.
Mr. Kamlesh Patel
Executive
Director
B.E. Electrical. Has over two decades of experience in the
field of production of all types of edible oil. He is also responsible for the
overall administration and technical operations of the manufacturing unit.
Mr. Jayesh P.Choksi
Vice
Chairman
Has over two decades of experience in the field of
manufacturing.
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.45.74 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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.