MIRA
INFORM REPORT
|
Report Date : |
12.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
KANTILAL MANILAL
AND COMPANY PRIVATE LIMITED |
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Registered
Office : |
Apeejay Chambers, 1st Floor, |
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Country : |
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Financial (as
on) ; |
31.03.2010 |
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Date of
Incorporation : |
18.04.1984 |
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Com. Reg. No.: |
11-32694 |
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Capital Investment / Paid-up Capital : |
Rs.1.000 Million |
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CIN No.: [Company
Identification No.] |
U24110MH1984
PTC032694 |
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TAN No.: [Tax Deduction & Collection Account No.] |
MUMK12362A |
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PAN No.: [Permanent Account No.] |
AAACK5165B |
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Legal Form : |
Private Limited
Liability Company |
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Line of
Business : |
Traders and dealers of Pharmaceutical Chemicals. |
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No. of
Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating
: |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit
Limit : |
USD 277000 |
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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 a well established and a reputed company having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered good for normal 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) |
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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
|
Registered
Office : |
Apeejay Chambers, 1st Floor, |
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Tel. No.: |
91-22-22317612 / 22072325 / 22077192 / 66317612 / 56317612 / 22817612 |
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Fax No.: |
91-22-22317610 / 22070376 / 22040376 / 66317610 / 56317610 |
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E-Mail : |
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Area : |
550 Sq. ft |
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Location : |
Rented |
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Branches : |
Located at: - Plot No. 294/12-B, Room No. 25, 16, Princess Street, Mumbai – 400
002, Maharashtra, India |
DIRECTORS
As On
30.09.2010
|
Name : |
Mr. Anil Pannalal Shah |
|
Designation : |
Director |
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Address : |
Sagar
Kunj 78, |
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Date of
Birth/Age : |
27.11.1944 |
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Qualification
: |
Post
Graduate |
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Date of
Appointment : |
30.09.1995 |
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DIN No. : |
02422033 |
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Name : |
Mr. Pankaj Pannalal Shah |
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Designation : |
Director |
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Address : |
510,
Chandralok, A-97, |
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Date of
Birth/Age : |
14.08.1951 |
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Qualification
: |
B.
Com. |
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Date of
Appointment : |
30.09.1995 |
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DIN No. : |
00900217 |
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Name : |
Mr. Atul Vinubhai Shah |
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Designation : |
Director |
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Address : |
53,
Sagar Kunj 78, |
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Date of
Birth/Age : |
28.12.1960 |
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Date of
Appointment : |
30.09.1995 |
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DIN No. : |
02422085 |
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Name : |
Mr. Mukesh Kantilal Shah |
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Designation : |
Director |
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Address : |
12A,
Capri Co-Operative Society Limited, Mumbai - 400 006, |
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Date of
Birth/Age : |
01.10.1959 |
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Date of
Appointment : |
30.09.1995 |
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DIN No. : |
00501188 |
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Name : |
Mrs. Nilamben Champaklal Shah |
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Designation : |
Director |
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Address : |
12A,
Capri Co-Operative Society Limited, Mumbai - 400 006, |
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Date of
Birth/Age : |
21.08.1932 |
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Date of
Appointment : |
30.09.1995 |
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DIN No. : |
02368354 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Anil P Shah Jointly Devyani A Shah |
1100 |
|
Anil P Shah (HUF) Jointly Devyani A Shah |
750 |
|
Pankaj P. Shah (H.U.F.) Jointly Charu P. Shah |
750 |
|
Charu P Shah Jointly Pankaj P Shah |
850 |
|
Mansi P. Shah Jointly Pankaj P.
Shah |
50 |
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Aditi P. Shah Jointly Pankaj P. Shah |
50 |
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Devyani A Shah Jointly Anil P Shah |
750 |
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Roma A. Shah Jointly Anil P. Shah |
150 |
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Pooja A. Shah Jointly Anil P. Shah |
150 |
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Kokilaben V. Shah |
1000 |
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Kokilaben V. Shah Jointly Vinubhai P. Shah |
200 |
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Atul Vinibhai Shah Jointly Sheetal A Shah |
675 |
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Sheetal A Shah Jointly Atul Vinibhai Shah |
300 |
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Dipali V. Shah Jointly Vinubhai P. Shah |
100 |
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Mukesh K Shah ( K. M. Shah H.U.F. Jointly Jyoti M Shah) |
50 |
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Mukesh K Shah Jointly Jyoti M Shah |
450 |
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Jyoti M. Shah Jointly Mukesh K. Shah |
150 |
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Pankaj P. Shah Jointly Charu P.
Shah |
1200 |
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Nilamben C. Shah Jointly Pankaj P. Shah |
400 |
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Alok A. Shah – Minor Atul V. Shah, Jointly Sheetal A. Shah |
175 |
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Akshay A. Shah – Minor Atul V. Shah Jointly Sheetal A. Shah |
150 |
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Jinal M. Shah –Minor Mukesh K. Shah Jointly Jyoti M. Shah |
150 |
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Atul V. Shah (H.U.F. Atul V. Shah Jointly Sheetal A. Shah) |
300 |
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Kantilal M. Shah (H.U.F.) Mukesh K. Shah Jointly Jyoti M. Shah |
100 |
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|
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Total |
10000 |
As On 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
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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 : |
Traders and dealers of Pharmaceutical Chemicals. |
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Products : |
· Aipic Acid · Butyl Cellosove
· Bisphenol · Carbitol · Chloroform · Cyclohexane · Cycloxexanone · Cyclohexulamine
· Dimethyl
Carbonate · DMDCS · Epichlorohydrine
· Hydrazine
Hydrate · Hydroquinone · Glycerine · Maleic
Anhydride · Methyl
Cellosolve · Morpholine · Neophentyl
Glycol · Perchloroehtylene
· Petroleum Ether
· Potassium
Carbonate · N-propariol
Pure · Propionic Acid · Propionis
Anhydride · Propylene
Glycol · Pyridine Pure · Thioglycollic
Acid · Vinyl Acetane
Manomer Generic Name of the Principal Product of the company is : · Trading
Pharmaceutical Chemicals |
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Exports : |
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Countries : |
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Imports : |
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Products : |
Chemicals |
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Countries : |
·
·
·
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Terms : |
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Selling : |
Cash and Credit (60 days) |
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Purchasing : |
L/C and Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
|
Suppliers
: |
·
Diamond
Dye Chemical Limited ·
ICI
India Limited ·
Letcar
Pharma Limited ·
National
Organization Chemical Industrial Limited ·
Gharda
Chemical Limited ·
Lumis
Biotech Limited |
|
Customers : |
·
Wholesalers ·
Retailers Pharmaceutical and Chemical Industry ·
Ajine
Metro Company ·
Atei
Shokai Company ·
Formol
Y Derivodos ·
Picadally
Sayare Trading Limited ·
Sinobrigut Development Limited ·
Zhejiqug
Kangu Pharmaceutical Company Limited |
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Bankers : |
·
The Hongkong and Shanghai Banking Corporation
Limited 52/60, ·
Andhra Bank Limited ·
·
Bank of Princess Street, Mumbai - 400 002,
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Facilities : |
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Banking Relations : |
-- |
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Auditors : |
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Name : |
Ramesh C. Shah and Company Chartered Accountants |
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Address : |
307, Venkatesh Chambers, 3rd Floor, |
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Tel. No.: |
91-22-22075636 |
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Fax No.: |
91-22-22070012 |
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Pan No.: |
AADPSEE34K |
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Associates/Subsidiaries
: |
·
Kantilal Manilal Private Limited ·
Emjey Enterprise ·
Ascent Trading Company ·
Alok Enterprise |
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Membership : |
Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion
Council |
CAPITAL STRUCTURE
As On 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 million |
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 |
1.000 |
1.000 |
1.000 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
68.372 |
59.891 |
52.283 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
69.372 |
60.891 |
53.283 |
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LOAN FUNDS |
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|
|
|
1] Secured Loans |
0.000 |
0.301 |
1.141 |
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2] Unsecured Loans |
196.908 |
148.910 |
153.879 |
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TOTAL BORROWING |
196.908 |
149.211 |
155.020 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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|
|
|
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TOTAL |
266.280 |
210.102 |
208.303 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.643 |
3.792 |
2.692 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.844 |
0.844 |
0.844 |
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DEFERREX TAX ASSETS |
0.230 |
0.364 |
0.353 |
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
203.334
|
101.378
|
130.191 |
|
|
Sundry Debtors |
123.091
|
126.841
|
135.740 |
|
|
Cash & Bank Balances |
76.426
|
118.732
|
53.741 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
5.096
|
5.142
|
2.976 |
|
Total
Current Assets |
407.947
|
352.093
|
322.648 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
132.008
|
102.561 |
|
|
Other Current Liabilities |
146.924
|
14.829
|
15.320 |
|
|
Provisions |
0.460
|
0.154
|
0.353 |
|
Total
Current Liabilities |
147.384
|
146.991
|
118.234 |
|
|
Net Current Assets |
260.563
|
205.102
|
204.414 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
266.280 |
210.102 |
208.303 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
|
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PROFIT AFTER TAX
|
8.481 |
7.608 |
6.311 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.96
|
4.86
|
5.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.77
|
2.39
|
2.73 |
LOCAL AGENCY FURTHER INFORMATION
Operations and
Financial Review :
The company has made a net profit after tax of Rs.8.481 Millions as
against Rs.7.608 Millions in the previous year
Form No. 8
|
Corporate
identity number of the company |
U24110MH1984
PTC032694 |
|
Name of the
company |
KANTILAL MANILAL
A COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Apeejay Chambers, 1st Floor, |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Others |
|
Particular of
charge holder |
The Hongkong and Shanghai Banking
Corporation Limited 52/60, e-mail id: pareshmehta@hsbc.co.in |
|
Nature of
instrument creating charge |
Supplemental
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
23.04.2010 |
|
Amount secured by
the charge |
Rs.185.000 millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
on interest Interest shall be payable by the Company on the banking facilities as per
Bank’s tariff, subject however that the Bank shall have the right to change
rate of interest after giving notice to the Company. ·
Terms
of repayment In consideration of Banking facilities sanctioned / to be sanctioned
by the Bank to the Company, the Company has hypothecated and charged to the
Bank by way of First exclusive charge on current assets both present and
future including stock in trade at Purna Village, Thane or any other
locations and book debts as a continuing security, the assets mentioned in
the Deed of Hypothecation to secure the repayments of the advances together
with interest cost and all other charges ·
Margin The Company shall maintain as may be specified by the Bank from time
to time ·
Extent
and operation of the charge In case the Company fails to fulfill obligations under the Agreement,
the Bank shall be entitled to take possession of the hypothecated properties
and sell them by public auction or private contract and utilize the proceeds
in full or part settlement of its claims.
|
|
Short Particulars
of the property charged |
All the
borrowers's stock in trade both present and future, including stock of raw
materials, work in progress, spares and stores and finished goods wherever
stored or in transit All the
borrower's present and future book debts, outstanding monies, receivables and
claims |
|
Date of
instrument modifying the charge |
18.09.2008 |
|
Particulars of
the present modification |
By the present
modification the maximum drawing limits of the said facilities has increased from
Rs.135.000 millions (Rupees One hundred and Thirty Five Million only) to
Rs.185.000 millions (Rupees One Hundred and Eighty Five Million only) |
Fixed Assets
·
Godown Premises
·
Furniture and Fixtures
·
Electrical Installation
·
Type Writers
·
Air Conditioner
·
Refrigerator
·
Xerox Machine
·
Fax Machine
·
Computer and Printers
·
Voltage Stabilizer
·
Weighing Machine
·
Fire Extinguishers
·
Telephone System
·
Motor Cars
·
Microwave Oven
·
Books
·
Printers
·
Modem
·
Capacitor
·
Television
·
UPS
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 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.44.37 |
|
|
1 |
Rs.70.84 |
|
Euro |
1 |
Rs.62.96 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.