%20PRIVATE%20LIMITED%20-145639%2020-Jun-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
20.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
K.B. POLYCHEM ( |
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|
|
Registered
Office : |
Plot No. F-1 to F-25, Industrial Area, Sikandra Site-C, Agra-282007, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.09.2009 |
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|
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Com. Reg. No.: |
20-038205 |
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Capital
Investment / Paid-up Capital : |
Rs.0.642
Million |
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|
|
CIN No.: [Company Identification
No.] |
U24139UP2009PTC038205 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AGRK11082B |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of PU Chemicals |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 18000 |
|
|
|
|
Status : |
New Company |
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|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is a new company establishing itself gradually. Trade relations
are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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 PARTED BY
|
Name : |
Mr. Nitin Batra |
|
Designation : |
Director |
|
Contact No.: |
91-9997019001 |
|
Date : |
18.06.2011 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. F-1 to F-25, Industrial Area, Sikandra Site-C, Agra-282007, |
|
Tel. No.: |
91-562-3266969 |
|
Mobile No.: |
91-9997019001 (Mr. Nitin Batra) |
|
Fax No.: |
91-562-2640576 |
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E-Mail : |
|
|
Area : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Saurabh Bhalla |
|
Designation : |
Director |
|
Address : |
407, Friends Ashiyana, Khandari Ps Hariparvat, Agra-282002, |
|
Date of Birth/Age : |
02.05.1975 |
|
Date of Appointment : |
09.09.2009 |
|
Din / Pan: |
02747307 |
|
|
|
|
Name : |
Mr. Kamlesh Kumar Bhalla |
|
Designation : |
Director |
|
Address : |
Flat No. 407, Friends Ashiana, Khandari, Agra-282002, |
|
Date of Birth/Age : |
05.01.1942 |
|
Date of Appointment : |
22.03.2010 |
|
Din / Pan: |
02749957 |
|
|
|
|
Name : |
Mr. Nitin Batra |
|
Designation : |
Director |
|
Address : |
6/215, Punjabi Gali, Hing Ki Mandi, P.O Sethgali, P.S. Kotwali,
Agra-282003, |
|
Date of Birth/Age : |
22.03.1976 |
|
Date of Appointment : |
22.03.2010 |
|
Din / Pan: |
02758950 |
|
|
|
|
Name : |
Ms. Puja Batra |
|
Designation : |
Director |
|
Address : |
306, Friends Ashiyana, Khandari, Agra-282002, |
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Date of Birth/Age : |
05.03.1977 |
|
Date of Appointment : |
09.09.2009 |
|
Din / Pan: |
02759913 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Saurabh Bhalla |
|
10000 |
|
Puja Batra |
|
10000 |
|
Charu Bhalla |
|
5000 |
|
Nidhi Bhalla |
|
1000 |
|
Kamlesh Kumar Bhalla |
|
19100 |
|
Nitin Batra |
|
19100 |
|
|
|
|
|
Total |
|
64200 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PU Chemicals |
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|
Exports : |
|
|
Products : |
PU Chemical |
|
Countries : |
SAARC Countries but they are about to start in European Countries. |
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
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GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Bank of |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
|
|
Name : |
Dinesh K. Agarwal and Company Chartered Accountant |
|
Address : |
46-A, Madhav Kunj, Pratap Nagar, Agra-282010, |
|
Tel. No.: |
91-562-2210682/2211067 |
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|
|
|
Associates/Subsidiaries : |
Address: Plot No. F-1 to F-25, Industrial
Area, Sikandra Site-C, Agra-282007, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
64200 |
Equity Shares |
Rs.10/- each |
Rs.0.642
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.642 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
4.104 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4.746 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
1.275 |
|
|
TOTAL BORROWING |
|
|
1.275 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6.021 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.806 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
4.433 |
|
|
Sundry Debtors |
|
|
5.697 |
|
|
Cash & Bank Balances |
|
|
0.949 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.341 |
|
Total
Current Assets |
|
|
11.420 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
8.029 |
|
|
Other Current Liabilities |
|
|
0.170 |
|
|
Provisions |
|
|
0.054 |
|
Total
Current Liabilities |
|
|
8.253 |
|
|
Net Current Assets |
|
|
3.167 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.048 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6.021 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
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|
|
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Income |
|
|
|
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|
Other Income |
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TOTAL (A) |
|
|
9.124 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
8.898 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
8.898 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
0.226 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.226 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.044 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
0.182 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
0.126 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
0.126 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
1.96 |
|
%20PRIVATE%20LIMITED%20-145639%2020-Jun-2011_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-145639%2020-Jun-2011_files/image004.gif){kind=small}
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
120.000 |
The above information has been parted by Mr. Nitin Batra.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
PAT / Total Income |
(%) |
|
|
1.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
1.28 |
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.04 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
2.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.38 |
LOCAL AGENCY FURTHER INFORMATION
General Review:
The company performance was satisfactory during the year. the company
able to do business and earned net profit. The director are hopeful that the
company will grow more and achieve its target of net profit in the year to
come. The future of the company seems to be bright.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of charge |
|
Charge identification
number of the modified |
10249499 |
|
Corporate
identity number of the company |
U24139UP2009PTC038205 |
|
Name of the
company |
K.B. POLYCHEM ( |
|
Address of the
registered office or of the principal place of business in |
Plot No. F-1 to F-25, Industrial Area, Sikandra Site-C, Agra-282007, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry. |
|
Date of instrument
Creating the charge |
01.11.2010 |
|
Amount secured by
the charge |
Rs.5.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
charged @ 3.25% p.a. over Base Rate or at such rate or rates as may be
specified by the Bank to the borrower from time to time. Terms of
Repayment Repayable on
Demand. Margin For Stock: 25% For Book Debts:
40%. Extent and
Operation of the charge The Charge will
operate on first charge basis. |
|
Short particulars
of the property charged |
I)
Equitable
Mortgage of all that piece and parcel of Non-Agricultural Land bearing survey
no. F- 25, Site- C situated within the Village Limits of UPSIDC, Sikandra,
Taluka, Agra District and II)
Registration
Sub- District, III)
On or
towards the North by- 12 metre wide Road No. 20 On or towards the
South by- Plot No. F- 53 On or towards the
East by- Plot No. F- 24 On or towards the
West by- Plot No. F- 26 IV)
Together
with all buildings and structures standing thereon or to be erected hereafter
and the plant and machinery V)
And
future. |
|
Particulars of
the present modification |
The Line of
credit limit of Rs 5.000 millions (sub limit for LC of Rs 3.000 millions)
will now be further secured by equitable mortgage of factory land and
building including Plant and Machinery attached to and fastened to the earth
situated at F- 25, Site- C UPSIDC, Sikandra, Taluka, Agra District and Regn. Sub- District, |
Fixed Assets:
- Car
- Computer and
Accessories
- Camera
- Plant and
Machinery
- Fridge
- Mobile Phone
- Weight
Weighing Machine
- Furniture and
Fixtures
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.44.93 |
|
|
1 |
Rs.72.43 |
|
Euro |
1 |
Rs.63.62 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.