MIRA
INFORM REPORT
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Report Date : |
04.03.2011 |
IDENTIFICATION DETAILS
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Name : |
KUMAR METAL INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
101, Kakad Bhavan, 30th Road, Opp. Gaiety Galaxy Cinema,
Bandra (West) Mumbai – 400050, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
15.03.2007 |
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Com. Reg. No.: |
04-168776 |
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CIN No.: [Company
Identification No.] |
U17291MH2007PTC168776 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK16974G |
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PAN No.: [Permanent
Account No.] |
AADCK0398K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Oil Mills, Refinery Plants, Chemical
Refinery Plants, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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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 274000 |
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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 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 for normal business dealings at usual
trade terms and conditions. Profit and Loss Account of the company is not available. |
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 : |
Ms. Soji |
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Designation : |
Administrative Officer |
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Contact No. : |
91-22-28459100 |
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Date: |
17.02.2011 |
LOCATIONS
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Registered Office : |
101, Kakad Bhavan, 30th Road, Opposite Gaiety Galaxy
Cinema, Bandra (West) Mumbai – 400050, |
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Tel. No.: |
91-22-28459100 / 28458300 / 26441674 / 26441673 /
26441667 / 26427982 |
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Fax No.: |
91-22-28456263 / 2642 8136 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Factory : |
Plot No. 7, Mira Co-operative
Industrial Estate, |
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Tel. No.: |
91-95250-28459100 / 8300 |
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Fax No.: |
91-95250-28456263 |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Aditya Sudhir Manaktala |
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Designation : |
Director |
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Address : |
701, Samudra Gupta CHS Limited, |
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Date of Birth/Age : |
11.08.1977 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.2008 |
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Name : |
Mr. Sunil Onkarnath Manaktala |
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Designation : |
Director |
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Address : |
279/4, Om Sadan, |
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Date of Birth/Age : |
01.09.1956 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.03.2007 |
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Other Directorship : |
·
Kumar Machines Private Limited CIN
No.: U01100MH2004PTC016771 ·
Abode Holelands Private Limited CIN
No.: U45201MH2006PTC166174 |
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Name : |
Mr. Sudhir Onkarnath Manaktala |
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Designation : |
Director |
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Address : |
701, Samudra Gupta CHS Limited, |
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Date of Birth/Age : |
05.06.1952 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.03.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 30.09.2010)
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Names of Shareholders |
No. of Shares |
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Mr. Sunil Manaktala |
300000 |
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Mr. Rishabh Manaktala |
100000 |
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Mr. Aditya Manaktala |
100000 |
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Mr. Akshay Manaktala |
100000 |
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Mr. Sudhir Manaktala |
300000 |
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Mrs. Gayatri Manaktala |
100000 |
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Total |
1000000 |
Equity share
breakup (percentage of total equity)
(As on
30.09.2010)
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Category |
Percentage |
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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 : |
Manufacturer and Exporter of Oil Mills, Refinery Plants, Chemical
Refinery Plants, etc. |
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Products : |
·
Oil Mills ·
Refinery plants ·
Chemical refinery plants ·
Preparatory section (soyabean) ·
Desiccated plants |
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Exports : |
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Products : |
·
Oil Mills ·
Refinery Plants ·
Chemical Refinery Plants, etc. |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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Customers : |
·
Retailers ·
Individuals |
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No. of Employees : |
200 (50 in office + 150 in factory) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
V V Mehta and Associates Chartered Accountant |
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Address : |
601, Balrama, BKC, Bandra (East), Mumbai – 400 051, |
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Tel. No. : |
91-22-30686900 / 01 |
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Associates/Subsidiaries : |
·
Kumar Machines Private Limited, Bandra (West) Line
of Business: Jobwork ·
Indian Grankshast Industries, Bandra (West) Line
of Business: Jobwork |
CAPITAL STRUCTURE
Authorised Capital : (As On : 30.09.2010)
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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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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
million |
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 |
10.000 |
10.000 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
58.409 |
30.185 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
68.409 |
40.185 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
3.127 |
20.164 |
0.000 |
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2] Unsecured Loans |
33.051 |
33.051 |
1.220 |
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TOTAL BORROWING |
36.178 |
53.215 |
1.220 |
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DEFERRED TAX LIABILITIES |
0.169 |
0.000 |
0.000 |
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TOTAL |
104.756 |
93.400 |
1.320 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
25.506 |
26.299 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
40.813 |
54.466 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.310 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
75.060
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40.384 |
0.000 |
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Sundry Debtors |
10.447
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15.406 |
0.000 |
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Cash & Bank Balances |
7.446
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12.962 |
1.106 |
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Other Current Assets |
65.537
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5.000 |
0.000 |
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Loans & Advances |
41.153
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23.809 |
0.025 |
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Total
Current Assets |
199.643
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97.561 |
1.131 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
141.864
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74.750 |
0.011 |
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Provisions |
19.379
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10.560 |
0.000 |
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Total
Current Liabilities |
161.243
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85.310 |
0.011 |
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Net Current Assets |
38.400
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12.251 |
1.120 |
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MISCELLANEOUS EXPENSES |
0.037 |
0.074 |
0.200 |
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TOTAL |
104.756 |
93.400 |
1.320 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.88
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3.45 |
12.31 |
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Current Ratio (Current Asset/Current Liability) |
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1.24
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1.14 |
102.82 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference :
- Speciality
Chemicals
- Kerasal
Fixed Assets :
- Building
- Motor Car
- Office
Equipment
- Plant and
Machinery
- Furniture and
Fixtures
- Land
Web Details
Company Profile
Subject was started by Mr. Onkarnath R. Manaktala 1939. The company,
making its name with its Oil Seed Processing and Crushing Equipment - with
highly motivated staff - is now a well-recognized manufacturing export house
with an ISO 9000 CERTIFICATION.
It has become the forte to set up turnkey projects in Oil Mills, Solvent Extraction
Plants and Oil Refineries. The plants can handle various oil seeds and oil like
sunflower, peanuts, canola, soyabean, cottonseed, copra and palm kernel.
Subject, is a company geared towards total quality management. This has helped
them bring home several awards and certificates from the Indian Government and
from the Engineering Export Promotion Council in recognition of the export and
innovative prowess.
A company, which works on the principles of honesty, integrity, sincerity and
dedicated to serve its customer's interest. Now, with the founder's sons at the
helm of affairs, it is a tight-knit, 200 people strong company with its tracks
in over 25 countries. More than 500 customers helped pave the way for this.
A company, which has built a considerable reputation in oil milling,
refining systems and solvent extraction, it has also diversified into the
plastics industry and in water purification plants. Now, it is ready to move
ahead with even more vigour than before.
Its first task, one which is already underway, is to modernize its systems to
keep pace with the rest of the globe. It's a constant process of replacing the
past with the future.
But a few things do not change. The principles, values and ideology that was
present right in the beginning, still remain.
Awards
They have received several awards and certificates from the Government
of India and Engineering Export Promotion Council.
Mr. Onkarnath R. Manaktala
From: Minister for Industries
for Export Recognition.
Shri Jawaharlal Warda
Mr. Sudhir Manaktala
From: Honorable Industries and Commerce Minister of
Mr. Sunil Manaktala
From: Honorable Governor of Reserve Bank of India
Mr. Rangarajan
Mr. Onkarnath R. Manaktala
From: Finance Minister, Maharashtra.
Mr. Sushil Kumar Shinde
Mr. Sudhir Manaktala
From: The Governor of
Shri Brahmanand Reddy
Mr. Sunil Manaktala
From: Finance Minister, Maharashtra.
Shri Ram Rao Adik
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.44.96 |
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|
1 |
Rs.73.37 |
|
Euro |
1 |
Rs.62.33 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
4 |
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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 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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--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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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44 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.