MIRA
INFORM REPORT
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Report Date : |
28.02.2011 |
IDENTIFICATION DETAILS
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Name : |
K. P. MANISH GLOBAL INGREDIENTS PRIVATE LIMITED |
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Registered Office : |
41, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
29.10.2007 |
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Com. Reg. No.: |
18-65205 |
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CIN No.: [Company
Identification No.] |
U24297TN2007PTC065205 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEK09647B |
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PAN No.: [Permanent
Account No.] |
AABCL3843N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of Pharma Ingredients |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. 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 – April 1, 2010
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Parasmal Jain |
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Designation : |
Director |
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Contact No.: |
91-9840621000 |
LOCATIONS
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Registered Office : |
41, |
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Tel. No.: |
91-44-2535 2345 / 2535 1345 / 2535 6050 |
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Fax No.: |
91-44-25356171 |
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E-Mail : |
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Website : |
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Area : |
2400 sq.ft |
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Location: |
Owned |
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Head office : |
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Tel. No.: |
91 - 44 - 2535 2767/5801/7534 |
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Fax No.: |
91 - 44 - 2534 0234 |
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E-Mail : |
info@kawarlal.com |
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Godown: |
No. 166, |
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Tel No.: |
91-44-25532266 |
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Fax No.: |
91-44-25530044 |
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Email: |
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Area : |
36000 sq. ft |
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Location: |
Owned |
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Branches 1 : |
No. 4772/23, 2nd Floor, |
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Tel No.: |
91-11-32526618 |
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Fax No.: |
91-11-23256619 |
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Email: |
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Area : |
1200 sq. ft |
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Location: |
Rented |
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Branches 2 : |
'Samaj Deep' 301, |
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Tel No.: |
91-22-2863 8200 |
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Fax No.: |
91-22-2863 8222 |
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Email: |
sales@kawarlal.com |
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Branches 3 : |
4-3-533 to 535/7, Hanuman Tekdi, |
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Tel No.: |
91-40-2476 1068 |
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Fax No.: |
91-40-2476 1069 |
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E-mail: |
hyderabad@kawarlal.com |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Manish Paramal Jain |
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Designation : |
Director |
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Address : |
27, |
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Date of Birth/Age : |
19.11.1982 |
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Date of Appointment : |
29.10.2007 |
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Name : |
Mr. Parasmal Kawarlal Jain |
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Designation : |
Director |
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Address : |
27, |
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Date of Birth/Age : |
03.01.1959 |
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Date of Appointment : |
26.02.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Ashish Kuamr V Jain |
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125000 |
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Manish Paramal Jain |
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125000 |
|
Happy Home Finance Private Limited, |
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25000 |
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Welquin Suppliers Private Limited, |
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25000 |
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Total |
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300000 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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16.00 |
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Directors
or relatives of directors |
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84.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter and Importer of Pharmaceutical Ingredients, Food
Ingredients |
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Exports : |
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Products : |
Flaver Items |
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Countries : |
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Imports : |
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Products : |
Pharma Ingredients |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash : L/C at Sight, D/P at Sight |
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Purchasing : |
Cash, Credit : 120 days |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
R. Rajendra Kumar and Company Chartered Accountant |
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Address : |
No. 329, |
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Tel. No.: |
91-44-25354874/ 25352934 |
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Fax No.: |
91-44-25352934 |
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Associates/Subsidiaries : |
·
Kawarlal and Company – Chennai Line Of Business: Trader, Exporter and Importer of Pharmaceutical
Ingredients, Food Ingredients ·
Kawarlala Pharma Limited – Chennai Line Of Business : Trader, Exporter and Importer of Pharmaceutical
Ingredients, Food Ingredients |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.000 |
3.000 |
0.100 |
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2] Share Application Money |
0.000 |
3.600 |
0.000 |
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3] Reserves & Surplus |
19.199 |
6.950 |
[0.021] |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
22.199 |
13.550 |
0.079 |
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LOAN FUNDS |
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1] Secured Loans |
18.451 |
22.340 |
0.198 |
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2] Unsecured Loans |
141.187 |
99.624 |
0.000 |
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TOTAL BORROWING |
159.638 |
121.964 |
0.198 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
181.837 |
135.514 |
0.277 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.064 |
0.095 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
50.280
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47.067 |
0.000 |
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Sundry Debtors |
248.053
|
178.925 |
0.000 |
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Cash & Bank Balances |
4.478
|
2.489 |
0.131 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
8.336
|
8.890 |
0.000 |
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Total
Current Assets |
311.147
|
237.371 |
0.131 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
44.815
|
71.703 |
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Other Current Liabilities |
14.756
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5.464 |
0.003 |
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Provisions |
70.925
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24.919 |
0.000 |
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Total
Current Liabilities |
130.496
|
102.086 |
0.003 |
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Net Current Assets |
180.651
|
135.285 |
0.128 |
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MISCELLANEOUS EXPENSES |
0.122 |
0.134 |
0.149 |
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TOTAL |
181.837 |
135.514 |
0.277 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.520 |
3.659 |
(0.021) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.272 |
0.022 |
0.000 |
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PROFIT BEFORE
TAX (E-F) (G) |
18.248 |
3.637 |
(0.021) |
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Less |
TAX (H) |
6.000 |
1.166 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
12.248 |
2.471 |
(0.021) |
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Earnings Per
Share (Rs.) |
40.83 |
- |
- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.84
|
1.53 |
(16.03) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.82
|
0.27 |
(0.27) |
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Debt Equity Ratio (Total Liability/Networth) |
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13.07
|
16.53 |
2.54 |
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Current Ratio (Current Asset/Current Liability) |
|
2.38
|
2.33 |
43.67 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U24297TN2007PTC065205 |
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Name of the
company |
K P MANISH GLOBAL INGREDIENTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
41, |
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Type of charge |
Immovable
Property Book Debts Movable Property |
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Particular of
charge holder |
Union Bank of |
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Nature of description
of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
23.10.2008 |
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Amount secured by
the charge |
Rs.50.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
14.50% per annum with monthly rests Terms of
Repayment: Repayable on Demand Margin: 25% Extent and Operation
of the charge: Hypothecation of stocks of raw materials, semi finished and
finished goods, book debts in respect of trade transactions. Equitable
Mortgage (EM) Property. 1 Sire Mansion 5th
Floor No. 62/VF/2 Anna Salai, Chennai-600002 2. 208, 3. 52 (O.No. 36)
Rottigidungu Thiruvendaga Mudali Street, Chennai – 112 4. 5. 17, 6. 166. 7. 41,
Ragunayakulu St. Chennai-600003 |
|
Short particulars
of the property charged |
EM on Properties 1 Sire Mansion 5th
Floor No. 62/VF/2 Anna Salai, Chennai-600002, 2. 208, 3. 52 (O.No. 36) Rottigidungu
Thiruvendaga Mudali 4. 5. 17, 6. 166. 7. |
Fixed Assets:
- Computer and Printer
- Intercom
- Scooter
- Fax Machine
- UPS
- Xerox Machine
- Kinetic Honda
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.45.37 |
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|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.62.68 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.