MIRA
INFORM REPORT
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Report Date : |
19.03.2011 |
Note : The company has shifted from the above address.
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
907, RG |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.06.1995 |
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Com. Reg. No.: |
55-070150 |
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CIN No.: [Company Identification
No.] |
U74899DL1995PTC070150 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
DELK05562E |
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PAN No.: [Permanent Account No.] |
AAACK3774G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporters, Importers
and Stockist of Pharmaceutical Raw Materials and industrial chemicals, Food
and Feed Additive, water treatment and Industrial Chemicals. |
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 96000 |
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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 relation are 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) |
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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
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Registered office /corporate Office: Office: |
907, RG |
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Tel. No.: |
91-11-45669600-03 |
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Mobile No.: |
91-9899069722 (Mr. Kaushal Khotari) |
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Fax No.: |
91-11-45669604 |
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E-Mail : |
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Website : |
http://www.keshavhichem.com |
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Branch office : |
Plot No.2, East grubax vihar, Daksh road, kankhal, Haridwar- 249408
(Uttarakhand) |
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Mobile No : |
91-9412071030 ( Mr. Manish Mishra) |
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E-Mail : |
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Branch office : |
Khasara No. 988/590, village Malku
Majra, Bhud barrier, baddi-173205 (H.P) |
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91-9899069103 ( Ms. Bimal Varma) / 9318901337 (Laxmi Narayan) |
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Fax No.: |
91-1795-276073 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Narendra Kothari |
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Designation : |
Director |
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Address : |
45, Chanderlok Enclave, Pitampura, |
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Din No: |
00043742 |
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Date of Birth/Age : |
16.09.1967 |
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Date of Appointment : |
23.06.1995 |
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Name : |
Ms. Ritu Kothari |
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Designation : |
Director |
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Address : |
45, Chanderlok Enclave, Pitampura, |
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Din No |
00043665 |
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Date of Birth/Age : |
28.11.1974 |
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Date of Appointment : |
23.06.1995 |
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Name : |
MR. Kaushal kothari |
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Designation : |
Director |
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Address : |
1040/ 23, Gandhi Gali, Tilak Bazar, |
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Din NO: |
00043665 |
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Date of Birth/Age : |
01.06.1976 |
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Date of Appointment : |
3.-01.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 02.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Narendra Kothari |
|
132260 |
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Ritu Khothari |
|
101010 |
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Kaushal Khothari |
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192015 |
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Vijay Shree kothari |
|
1000 |
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Narendra Kothari (HUF) |
|
71715 |
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Vimal sharma |
|
59500 |
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Sapna kothari |
|
65000 |
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Kaushal Khothari (HUF) |
|
20000 |
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S.N Aggarwal |
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20000 |
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Manisha mishra |
|
77500 |
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M.D. Khothari |
|
40000 |
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Inder Kumar khothari (HUF) |
|
125 |
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Inder Kumar khothari |
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55000 |
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Bampsl Securities Limited |
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2500 |
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Lata Ram Kumar Gupta |
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600 |
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Vijay Sharma |
|
10000 |
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TOTAL |
|
848225 |
As On 30.09.2010
|
Category |
Percentage |
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Bodies corporate |
0.29 |
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Directors or relatives of Directors |
79.95 |
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Other top fifty shareholders |
19.76 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Exporters,
Importers and Stockist of Pharmaceutical Raw Materials and industrial
chemicals, Food and Feed Additive, water treatment and Industrial Chemicals. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
Rs in Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.C. Verma and Associates |
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Address : |
B-208, RG Complex, |
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Tel. No.: |
91-11-43541594 / 5 |
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Fax No.: |
91-11-43541545 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
848225 |
Equity shares |
10/- each |
Rs.8.482
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
8.482 |
8.352 |
7.800 |
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2] Share Application Money |
0.00 |
0.00 |
0.025 |
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3] Reserves & Surplus |
15.552 |
12.163 |
0.987 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
24.034 |
20.515 |
8.812 |
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LOAN FUNDS |
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1] Secured Loans |
2.727 |
0.372 |
1.409 |
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2] Unsecured Loans |
6.258 |
3.788 |
5.997 |
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TOTAL BORROWING |
8.985 |
4.160 |
7.406 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.00 |
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TOTAL |
33.019 |
24.675 |
16.219 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.816 |
1.271 |
1.503 |
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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 |
0.097 |
0.104 |
0.087 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
16.262
|
6.798 |
8.757 |
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Sundry Debtors |
31.732
|
21.283 |
17.968 |
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Cash & Bank Balances |
0.153
|
0.548 |
0.873 |
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Other Current Assets |
0.068
|
0.075 |
0.084 |
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Loans & Advances |
1.897
|
0.431 |
0.397 |
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Total
Current Assets |
50.112
|
29.135 |
28.079 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
17.347
|
5.050 |
1.088 |
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Other Current Liabilities |
1.243
|
0.392 |
12.050 |
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Provisions |
0.416
|
0.388 |
0.312 |
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Total
Current Liabilities |
19.006
|
5.830 |
13.450 |
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Net Current Assets |
31.106
|
23.300 |
14.629 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
33.019 |
24.675 |
16.219 |
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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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SALES |
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Income |
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Other Income |
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TOTAL |
206.106 |
161.763 |
NA |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
204.531 |
159.347 |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.575 |
2.416 |
1.110 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.230 |
0.246 |
0.329 |
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PROFIT BEFORE
TAX |
1.345 |
1.085 |
0.781 |
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Less |
TAX |
0.446 |
0.398 |
0.717 |
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PROFIT AFTER TAX |
0.899 |
0.687 |
0.064 |
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Earnings Per
Share (Rs.) |
1.06 |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.44
|
0.42 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.59
|
3.72 |
2.64 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05 |
0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.16
|
0.48 |
2.37 |
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Current Ratio (Current Asset/Current Liability) |
|
2.64
|
5.00 |
2.09 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from 1040 Gandhi Gali
Tilak, Bazar,
FUTURE PROSPECTS
Inspite of recession in the economy, company
has shown a growth of 20.35% in turnover and 18.43% in profit before
Depreciation. In the current Financial
year also, the company shall strive to achieve and maintain profitability and
performance.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74899Dl1995PTC070150 |
|
Name of the
company |
KESHAV HICHEM
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
1040 Gandhi Gali,
Tilak Bazar, |
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E-mail ID of the
company |
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|
This form is for |
Modification
charge |
|
Charge identification
(ID) number of the charge to be modified |
10001465 |
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Type of charge |
Book debts,
movable property (not Being Pledge), Floating charges. |
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Particular of
charge holder |
HDFC Bank House
Senapati Bapat Marg, Lower Parel (W), Mumbai, |
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e-mail ID |
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Nature of
instrument creating charge |
Supplementary
Letter of Hypothecation |
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Date of
instrument Creating the charge |
31.01.2011 |
|
Amount secured by
the charge |
Rs.52.546
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the bank from time to time Terms of
Repayment On Demand Margin As may be
stipulated by the Bank from time to time Extent and
Operation of the charge Hypothecation by
way of first charge on company’s Book Debts and Trade, etc., to secure as a
continuing security for the repayment
of Rs. 52.546 Millions toghther with
interest, costs, charges, expenses and other moneys due and payable by the
Company to the Bank. Others Nil |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
i)
Stock
in Trade, consisting of raw materials, goods in process of manufacturing
finished goods, and other merchandise whatsoever being movable properties---
as per annexure attached— ii)
All
the debts, that is all the book debts, outstandings, monies receivables, claims,
bills invoice documents contracts, guarantees, and rights--- |
|
Date of
instrument modifying the charge |
04.06.2010 |
|
Particulars of
the present modification |
The Charge shall now
stand increased from30.351millions to Rs. 52.546 millions, against the
security of Book Debts and Stock in trade of the Company |
FIXED ASSETS
- Land and Building
- Car
- Fax and Telephone
- Furniture and Fixtures
- Typewriter
- Air Conditioner
- Computer Equipment
- Scooter / Bike
- Office Equipment
AS PER WEBSITE DETAILS
Profile
Keshav Hichem's history can trace to 1995 at that time, they work as
trading company for chemicals and solvents to cater Food and Pharma Industry of
northern
Keshav Hichem's business scope has expanded to dietary supplement,
nutraceutical, functional food, cosmetics, water treatment and other industries
etc. after a few years rapid growth.
In year 2005 Keshav Hichem's set up its first extension at Haridwar
(Uttranchal) to cater the upcoming industrial hub of uttranchal and neighbouring state of Himachal Pradesh.
With a dedication to provide customers with easy solutions and value
added services, Keshav Hichem's take strategetic measures by integrating with
some leading domestic manufactures to insure it's absolute advantage on quality
products at most competitive prices.
Their team: With more than 10 years experience in this industry, they
know well about Indian market, they believe that they can not beat all their
competitors, but they can lead them.
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.45.27 |
|
|
1 |
Rs.72.94 |
|
Euro |
1 |
Rs.63.08 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.