%20PRIVATE%20LIMITED-133362%2018-Feb-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
18.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
K K CHEMPRO ( |
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Formerly Known
As : |
K K Chemical industries |
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Registered Office
: |
A-6 Kishor CHS Limited, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
17.05.2008 |
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Com. Reg. No.: |
11-182345 |
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CIN No.: [Company Identification
No.] |
U24100MH2008PTC182345 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK18185G |
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PAN No.: [Permanent Account No.] |
AADCK3820C |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer and Exporter of Speciality Silicon and Non Silicon
Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject seems to be a company having moderate track. The valuation
report provided seems to be of a far lesser value than the transaction
amount. No complaints have been heard from indirect sources. It would be advisable to take adequate securities while dealing with
the subject. |
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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Nilesh Jadhav |
|
Designation : |
Manager- Accounts and Finance |
|
Contact No.: |
91-9324452433 |
|
Date : |
12.03.20111 |
LOCATIONS
|
Registered Office : |
A-6 Kishor CHS Limited, Datta Mandir Road, A Wing, 2nd
Floor, Malad East, Mumbai-400097, Maharashtra, India |
|
Tel. No.: |
91-22-32920015 |
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Mobile No.: |
91-9324452433 (Mr. Nilesh Jadhav) |
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E-Mail : |
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Website : |
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Area : |
Rented |
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Factory/ Godown : |
Grow Logistics, Godown No. D/9/A, Gupta Warehousing Complex, |
|
Area : |
Rented |
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|
|
|
Administrative/ Branch Office : |
Plot No. 8, GAVL Society, Near Kwality Engineering, Gorai Pada, Vasai-
East, District Thane-401208, Maharashtra, India |
|
Tel. No.: |
95-250-3296582/ 6450868/ 2457300 |
|
Fax No.: |
95-250-2454013 |
DIRECTORS
As on 14.07.2010
|
Name : |
Mr. Sumant D Agarwal |
|
Designation : |
Director |
|
Address : |
Kishore CHS Limited, ‘A’ Wing, 2nd Floor, |
|
Date of Birth/Age : |
03.05.1972 |
|
Qualification : |
B.E (Chemical) |
|
Experience : |
12 Years |
|
Date of Appointment : |
17.05.2008 |
|
DIN No.: |
02037020 |
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|
|
|
Name : |
Mr. Nitin Sethi |
|
Designation : |
Director |
|
Address : |
A-64, Manali Building No. 1, Evershine Nagar, Malad (West),
Mumbai-400064, Maharashtra, India |
|
Date of Birth/Age : |
11.07.1971 |
|
Qualification : |
B.E. (Chemical) PGDM (Adv Marketing) |
|
Experience : |
12 Years |
|
Date of Appointment : |
17.05.2008 |
|
DIN No.: |
01952813 |
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|
|
|
Name : |
Mr. Mukesh Kishorilala Gupta |
|
Designation : |
Director |
|
Address : |
73/74, Manali Building No. 5, Evershine Naar, Malad (West),
Mumbai-400064, |
|
Date of Birth/Age : |
11.07.1965 |
|
Qualification : |
B.Com |
|
Experience : |
30 Years |
|
Date of Appointment : |
17.05.2008 |
|
DIN No.: |
00372861 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh Jadhav |
|
Designation : |
Manager- Accounts and Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 14.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sumant Agarwal |
|
22800 |
|
Nitin Sethi |
|
22800 |
|
Mukesh Gupta |
|
5000 |
|
Mukesh Gupta HUF |
|
17800 |
|
Insai Fashions Private Limited, Mumbai, |
|
31600 |
|
Total |
|
100000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
50.60 |
|
Others |
49.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Speciality Silicon and Non Silicon
Products. |
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|
|
Products : |
·
Silicon Fluid ·
Dow ·
Lubriszol Speciality Paper Coatings ·
Evonic Degussa Precipitated Silicas ·
Clariant Products ·
Speciality Silicone Products ·
Speciality Softeners for Fabrics ·
Mould Release Agents ·
Industrial Antifoams |
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Agencies Held : |
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Terms : |
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Selling : |
Credit (60-90 Days) |
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Purchasing : |
Credit ( 30 Days) and Others |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Approximately 18 (in Office) |
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Bankers : |
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Facilities : |
Present Banking
Relationship
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M Parihar and Associates Chartered Accountant |
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Address : |
G-1, |
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Tel. No.: |
91-22-32920015 |
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Associates: |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 10/-each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 10/-
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.000 |
0.775 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
12.991 |
7.254 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
13.991 |
8.029 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
7.405 |
7.536 |
|
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2] Unsecured Loans |
|
0.173 |
0.004 |
|
|
TOTAL BORROWING |
|
7.578 |
7.540 |
|
|
DEFERRED TAX LIABILITIES |
|
0.015 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
21.584 |
15.569 |
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|
|
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|
|
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
|
0.122 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
9.688 |
7.667 |
|
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Sundry Debtors |
|
30.755 |
13.705 |
|
|
Cash & Bank Balances |
|
4.333 |
4.304 |
|
|
Other Current Assets |
|
1.689 |
0.640 |
|
|
Loans & Advances |
|
0.292 |
2.926 |
|
Total
Current Assets |
|
46.757 |
29.242 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
22.356 |
13.286 |
|
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Other Current Liabilities |
|
1.421 |
0.271 |
|
|
Provisions |
|
1.546 |
0.148 |
|
Total
Current Liabilities |
|
25.323 |
13.705 |
|
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Net Current Assets |
|
21.434 |
15.537 |
|
|
|
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|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.028 |
0.032 |
|
|
|
|
|
|
|
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TOTAL |
|
21.584 |
15.569 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
110.515 |
16.290 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL (A) |
|
110.515 |
16.290 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material |
|
95.806 |
14.668 |
|
|
|
Administrative And other Expenses |
|
8.948 |
1.137 |
|
|
|
Preliminary Expenses written off |
|
0.000 |
0.003 |
|
|
|
TOTAL (B) |
|
104.754 |
15.808 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
5.761 |
0.482 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.270 |
0.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
4.491 |
0.406 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.017 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
4.474 |
0.406 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
1.221 |
0.133 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
3.253 |
0.273 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
0.728 |
0.000 |
|
|
TOTAL EARNINGS |
|
0.728 |
0.000 |
|
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Import Value |
|
1.587 |
0.000 |
|
|
TOTAL IMPORTS |
|
1.587 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
32.53 |
3.53 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
2.94 |
1.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.05 |
2.49 |
|
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
9.54 |
1.39 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.32 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.35 |
2.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.85 |
2.13 |
LOCAL AGENCY FURTHER INFORMATION
DUE
DILIGENCE REPORT
|
BORROWER |
|
|
Borrower’s Name and Address |
KK Chempro A-6 Kishore Apartments, 2nd Floor, |
|
|
|
|
Other siote(s) of the borrower / site (s) |
Administrative Office Plot No. 8, GAVL Society, Near Kwality Engineering, Gorai Pada, Vasai-
East, District Thane- 401208 Godown: Grow Logistics, Godown No. D/9/A, Gupta Warehousing Complex, |
|
|
|
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Constitution of the Borrower |
Private Limited Company |
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Name of the Propriety / Partners/ Directors |
Mr. Sumant Agarwal Mr. Nitin Sethi Mr. Mukesh Gupta |
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BACKGROUND
INFORMATION: |
|
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Year of Establishment |
2008 |
|
|
|
|
Registrations/ Affilations (Any change in promoters’ registration affiliations) |
Registered with ROC |
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Any Award Won |
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BUSINESS
ACTIVITIES |
|
|
Profile (Nature of Activity) |
The company is authorized distributor of Dow Corning, Lubrizol
Advanced Materials and Evonik Degussa. |
|
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Products |
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|
Details of Fixed Assets ·
Land and Buildings ·
Plant and Machinery ·
Furniture and Fixture ·
Other Assets |
Office Premises acquired after 31.03.2010 Rs. 0.139 Million |
PERSONAL ASSETS OF
THE DIRECTORS
|
Name |
Description of
the Assets owned by them |
Amount (Rs. in
Millions) |
|
1) Mr. Sumant Agarwal |
Movable and Immovable Assets |
3.107 |
|
2) Mr. Nitin Sethi |
Movable and Immovable Assets |
3.193 |
|
3) Mr. Mukesh Gupta |
Movable and Immovable Assets |
-- |
FINANCIAL ANALYSIS
|
Last Available financial Statement (Year ended dd/mm/yyyy) |
31.03.2010 |
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Recent summary financials (upto a period not more than two months old) |
31.12.2010 |
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Change in borrowings (from FY 2009-10 to FY 2010-11) |
Rs. 7.500 Millions |
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|
Whether the critical ratios conforms to the bench mark stipluation |
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SWOT ANALYSIS OF
THE UNIT
|
STRENGTHS |
WEAKNESS |
|
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|
|
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|
OPPORTUNITIES |
THREATS |
|
|
Import of chemicals may be banned. |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
SHOWING ASSETS AND LIABILITIES
(NET WORTH
STATEMENT)
MR. SUMANT
AGGARWAL
(DIRECTOR)
INVESTMENT IN BUSINESS
CAPITAL
|
Name of the
company/ firm/ concern in which investment is made |
|
|
1) K K Chemicals- Partnership Firm |
Rs. 0.232
Million |
|
2) K K Chempro ( |
Rs. 2.263
Millions |
|
PRESENT VALUE OF
INVESTMENTS |
Rs. 2.495 Millions |
DEPOSIT HELD WITH
BANKS/ COMPANIES/ OTHER LENDER ETC.
|
Name of the
Bank/ Company where deposits are held |
|
|
1) Locker Deposit as bank FDR |
Rs. 0.002
Million |
|
2) Earnest Money Deposit (HLL Life Care) |
Rs. 0.020
Million |
|
PRESENT VALUE OF
DEPOSITS |
Rs. 0.022 Million |
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC.
|
DESCRIPTION |
|
|
1) Malad Sahakri Bank Limited |
Rs. 0.001
Million |
|
2) Reliance Industries Limited |
Rs. 0.004
Million |
|
3) Actel Petrochem |
Rs. 0.001
Million |
|
Present Value |
Rs. 0.006 Million |
LIFE INSURANCE
POLICIES
|
Annual Premium |
Rs. 0.075 Million |
VEHICLES OWNED
|
Model / Make |
Motor Bike |
|
|
|
|
Present Market
Value |
Rs. 0.045 Million |
OTHER ASSETS
|
Cash in Hand |
Rs. 0.000
Million |
|
Jewellery |
Rs. 0.030
Million |
|
|
|
|
Other Assets if
any (Specify) |
|
|
|
|
|
1) Advance towards Residential Flat |
Rs. 0.340
Million |
|
2) ICICI Pension Fund |
Rs. 0.100
Million |
|
3) PPF |
Rs. 0.011
Million |
|
4) PPF: Minor |
Rs. 0.004
Million |
|
5) Salary Receivables – K K Chempro ( |
Rs. 0.294
Million |
|
6) Hemant Agarwal |
Rs. 0.025
Million |
|
7) K K Chempro ( |
Rs. 0.035
Million |
|
8) Krish Enterprises |
Rs. 0.140 Million |
|
9) R D More |
Rs. 0.150
Million |
|
10) Sun Impex |
Rs. 0.102
Million |
|
11) Ritu Agarwal |
Rs. 0.047
Million |
|
12) Sumant Agarwal HUF |
Rs. 0.079
Million |
|
13) Abhudaya Bank |
Rs. 0.043
Million |
|
Total Other
Assets |
Rs. 1.398 Millions |
|
TOTAL ASSETS |
RS. 3.966 MILLIONS |
OTHER LIABILITIES
|
1) B.M. Sethi |
Rs. 0.020
Million |
|
2) Creative Home Fashions Private Limited |
Rs. 0.030
Million |
|
3) Rajesh Khemka |
Rs. 0.005
Million |
|
4) Sangeeta Poddar |
Rs. 0.100 Million |
|
5) Mukesh Gupta |
Rs. 0.050
Million |
|
6) Nikita Agarwal |
Rs. 0.035
Million |
|
7) Sughila Devi Agarwal |
Rs. 0.188
Million |
|
8) Sanjay Agarwal |
Rs. 0.088
Million |
|
9) Deendayal Agarwal |
Rs. 0.384
Million |
|
Total of other
Liabilities |
Rs. 0.899 Million |
|
TOTAL
LIABILITIES |
RS. 0.899 MILLION |
|
NETWORTH |
RS. 3.067 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT SHOWING
ASSETS AND LIABILITIES
(NET WORTH
STATEMENT)
MR. NITIN
SETHI
(DIRECTOR)
INVESTMENT IN
BUSINESS CAPITAL
|
Name of the
company/ firm/ concern in which investment is made |
|
|
1) K K Chemicals- Partnership Firm |
Rs. 0.197
Million |
|
2) K K Chempro ( |
Rs. 2.263
Millions |
|
PRESENT VALUE OF
INVESTMENTS |
Rs. 2.459 Millions |
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC.
|
DESCRIPTION |
|
|
1) Actel |
Rs. 0.001
Million |
|
2) Llyod Finance |
Rs. 0.009 Million |
|
3) Shares in Malad Sahakari
Bank |
Rs. 0.001
Million |
|
4) ICICI Mutual Fund |
Rs. 0.025
Million |
|
5) HDFC Mutual Fund |
Rs. 0.025
Million |
|
Present Value |
Rs. 0.061 Million |
LIFE INSURANCE
POLICIES
|
Annual Premium |
Rs. 0.101 Million |
|
Surrender Value |
Rs. 0.332 Million |
OTHER ASSETS
|
Cash in Hand |
Rs. 0.070
Million |
|
|
|
|
Other Assets if
any (Specify) |
|
|
|
|
|
1) PPF |
Rs. 0.564
Million |
|
2) ICICI Bonds |
Rs. 0.020
Million |
|
3) K K Chempro ( |
Rs. 0.307
Million |
|
4) K K Chempro ( |
Rs. 0.004
Million |
|
5) Loan given to Rithu Sethi |
Rs. 0.345
Million |
|
6) Nitin Shethi HUF |
Rs. 0.002
Million |
|
7) Oriental Bank of Commerce |
Rs. 0.010
Million |
|
8) State Bank of |
Rs. 0.096
Million |
|
Total Value of
Other Assets |
Rs. 1.425 Millions |
|
TOTAL ASSETS |
RS. 4.279 MILLIONS |
OTHER LIABILITIES
|
B M Sethi |
Rs. 0.182
Million |
|
Total of other
Liabilities |
Rs. 0.182 Million |
|
TOTAL
LIABILITIES |
RS. 0.182 MILLION |
|
NETWORTH |
RS. 4.097 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
|
GENERAL |
|
|
Purpose for which Valuation Made |
To assess the Fair Market value for the purpose of availing Collateral
Security/ availing credit facility form Corporation Bank, Nariman Point
Branch |
|
|
|
|
Date on which visit made |
09.08.2010 |
|
|
|
|
Name of the owner/ owners |
K K Chempro ( Bellar Homes and Realtors Private Limited (Present Owner) |
|
|
|
|
If the property is under joint ownership/ co-ownership, share of each
owner, is the share undivided |
Ownership as per agreement dated |
|
|
|
|
Brief description of the property |
The said property consists of Industry/ Commercial premises on 4th
Floor, Unit No. 442, At Neo Corporate Plazza |
|
|
|
|
Location, Street, Ward No. |
At |
|
|
|
|
Survey/ |
C.T.S. No. 602 At Village Valani, Taluka- Borivali |
|
|
|
|
If the property situated in residential/ commercial/ mixed/ industrial
area |
Situated in Commercial and Industrial Area |
|
|
|
|
Classification of locality – high class/ middle class/ poor class |
Higher Middle Class |
|
|
|
|
Proximity to civic amenities like schools offices, hospitals, market,
cinemas etc. |
Available at 1 to 2 km distance, Railway Station Malad (West) at 2.5
km distance. |
|
|
|
|
Means and proximity to surface communication by which the locality is
served |
Autos, Buses, Taxis and suburban Railway services available. |
|
|
|
|
LAND |
|
|
Area of Land supported by documentary proof |
Industrial/ Commercial premises on 4th Floor, Unit no. 442,
At Neo Corporate Plazza Admeasuring Carpet area 533 sq.ft (Actual) (Plus Loft Floor 102 sq.ft.) and Built up area 907 sq.ft. as per any
opinion and Carpet are 538 sq.ft. as per agreement |
|
|
|
|
Road of lanes on which land is abutting |
At |
|
|
|
|
Does the land fall in area included in town planning scheme or any
development of Government of any statutory body? If so, give particulars |
Falls within limits of MCGM Taluka – Borivali |
|
|
|
|
Has any contribution been made towards development or is any
contribution still outstanding? |
Surrounded by compound wall and gates |
|
|
|
|
Attach a dimensional site plan |
With |
|
|
|
|
IMPROVEMENTS |
|
|
Is the building owner occupied, tenant or both |
Owner occupied (Industrial Premises) Under construction. |
|
|
|
|
What is F.S.I. permissible and percentage actually utilized? |
C.C.No. CHE/9348/BPWSA/AP dated 30.10.2009 |
|
|
|
|
RENTS |
|
|
Give details of water and electricity charges is any to be borne by
the owner |
Borne by Owner |
|
|
|
|
Is a pump in installed, who has to bear the cost |
Cost born by owner |
|
|
|
|
Who has to bear the cost of electricity for lighting of common space like
entrance, hall, stairs, passages, compounds etc. |
Maintained by the owner and cost born by the owner. |
|
|
|
|
What is the amount of property tax? Who has to bear it? Give details
with documentary proof |
Included in Society maintenance charges and born by the owner |
|
|
|
|
SALES |
|
|
Give instance of sale of immovable property in the locality on a
separate sheet, including the name and
address of the property, registration no. sale price and area land sold |
The Fair Market Value of the said property is assessed form the market
survey and inquiry form Builders and Estate Agents. The units is on 4th floor, building is under construction |
|
|
|
|
Land rate/ adopted in this valuation |
Considering the above factory the Fair Market Value of said premises
is as follows The carpet Area 538 sq. ft. @ Rs. 16000/-= Rs. 8.608 Millions |
|
|
|
|
COST OF
CONSTRUCTION |
|
|
Year of Commencement of construction and year of completion |
Year 2008-2010 |
|
TECHNICAL DETAILS FOR THE PREMISES |
|
|
No. of Floor and height of floor |
Basement+ Ground + 4 Floors having 13’ – 0 clear height |
|
|
|
|
Plinth area- floor-wise (As per is : 3861-1966) |
Industrial / commercial premises on 4th Floor, Unit No.
442, At Neo Corporate Plazza Admeasuring carpet area 533 sq.ft. (Actual) (Plus Loft Floor 102 sq.ft.) and Built up area 907 sq.ft. as per my
opinion adsn Carpet are 538 sq.ft. as pern agreement |
|
|
|
|
Year of Construction |
2008-2010 |
|
|
|
|
Estimated future life |
R.C.C. Framed Structure |
|
|
|
|
Types of Foundations |
R.C.C. |
|
|
|
|
WALLS |
|
|
a) Basement and Plinth |
9” thick brick masonry |
|
b) Super Structure above |
9” thick brick masonry |
|
|
|
|
Door and windows (Floor-wise) |
Wooden Frame flush Door and M.S. Rolling Shutter, Aluminium windows
(Proposed) |
|
|
|
|
Flooring (Floor-wise) |
The Flooring (Proposed) |
|
|
|
|
Finishing (Floor-wise) |
Sand face cement plaster externally and nerru cement plaster
internally |
|
|
|
|
Roofing and terracing |
Flat RCC Roof |
|
|
|
|
Special architectural or decorative features if any |
Not provided |
|
|
|
|
a) Internal wiring-surface or conduit |
Conduit (Proposed) |
|
b) Class of fittings superior/ ordinary/ poor |
Average Quality (Proposed) |
|
|
|
|
a) Sanitary installations |
Toilets provided (Proposed) |
|
b) Class of fittings superior coloured/ superior white/ ordinary |
Average Quality (Proposed) |
|
|
|
|
Compound Wall |
Masonry Wall provided with Gates |
|
|
|
|
No. of lifts and capacity |
One (Proposed) |
|
|
|
|
Underground Sump |
Provided |
|
1. Capacity |
As per MCGM regulation |
|
2. Type of construction |
R.C.C. |
|
|
|
|
Overhead Tank |
Provided |
|
1. Where located |
On Terrace |
|
2. Capacity |
As per MCGM regulations |
|
3. Type of Construction |
R.C.C. |
|
|
|
|
Pumps No. and their horse power |
Provided of adequate capacity |
|
|
|
|
Roads are paving within the compound, approximately area, type of
paving |
Chequered Tiles paving (Proposed) |
|
|
|
|
Sewage disposal/ whether connected to public sewers. If septic tanks
provided no. and capacity |
Connected to public sewer. |
------------------------------------------------------------------------------------------------------------------------------
PROFIT AND
LOSS ACCOUNT
(Rs.
in Millions)
|
PARTICULARS |
31.03.2011 Estimated |
31.03.2012 Projected |
|
Gross Sales (Net
of Returns) |
|
|
|
- Domestic |
136.220 |
156.653 |
|
- Export |
10.000 |
15.000 |
|
Sub Total (Gross
Sales) |
146.220 |
171.653 |
|
|
|
|
|
% wise rise / fall in sales as compared to previous year |
33.29 |
17.39 |
|
Other Operating
Income |
|
|
|
Export Incentives |
1.200 |
1.800 |
|
Commission/ Brokerage Received |
-- |
-- |
|
Others |
-- |
-- |
|
|
|
|
|
Total Operating Income |
147.420 |
173.453 |
|
Cost of Sales |
|
|
|
Purchases |
131.574 |
153.416 |
|
Other Trading Expenses (Carriage Inward, Commission and brokerage on
purchases) |
0.853 |
1.003 |
|
Sub Total |
132.427 |
154.419 |
|
Add : Opening Stock |
9.688 |
13.086 |
|
Less: Closing Stock |
13.086 |
15.551 |
|
Total Cost of
Sales |
129.029 |
151.954 |
|
Selling, General and Administration Expenses |
10.347 |
11.811 |
|
Operating Profit Before Interest and Depreciation |
8.044 |
9.688 |
|
Interest |
2.100 |
2.100 |
|
Depreciation |
0.014 |
0.467 |
|
Operating Profit after Interest and Depreciation |
5.930 |
7.121 |
|
Non Operating Income |
-- |
-- |
|
Profit on |
-- |
-- |
|
Interest from Investments |
0.284 |
0.284 |
|
Forex Gains |
-- |
-- |
|
Non-Operating Income from Subsidiaries |
-- |
-- |
|
Tax Refund |
-- |
-- |
|
Other Non Operating Income |
-- |
-- |
|
Total Non-
Operating Income |
0.284 |
0.284 |
|
Deduct Non Operating Expenses |
-- |
-- |
|
Loss on |
-- |
-- |
|
Preliminary Expenses Written off |
0.004 |
0.004 |
|
Other Non-Operating Expenses |
-- |
-- |
|
Total Non
–Operating Expenses |
0.004 |
0.004 |
|
Net of
Non-Operating Income/ Expenses |
0.280 |
0.280 |
|
Profit Before
Tax |
6.210 |
7.401 |
|
Provision for
taxation |
|
|
|
Current |
1.900 |
2.265 |
|
Deffered |
-- |
-- |
|
Sub Total : Provision for Taxation |
1.900 |
2.265 |
|
Net Profit After
Tax |
4.310 |
5.136 |
|
Extraordinary Items Adjustments: |
-- |
-- |
|
Extraordinary Income Adjustments (+) |
-- |
-- |
|
Extraordinary Expenses Adjustment (-) |
-- |
-- |
|
Sub Total Extraordinary
Items |
0.000 |
0.000 |
|
|
|
|
|
Adjusted PAT
(Excluding Extraordinary) |
4.310 |
5.136 |
|
Dividend Paid |
-- |
-- |
|
On Equity Capital |
-- |
-- |
|
On Preference Share Capital |
-- |
-- |
|
|
|
|
|
Dividend Tax |
-- |
-- |
|
Partners’ Withdrawal |
-- |
-- |
|
Dividend (%) |
-- |
-- |
|
Retained Profit |
4.310 |
5.136 |
|
Cash Accruals |
4.328 |
5.607 |
BALANCE
SHEET
(Rs.
in Millions)
|
PARTICULARS |
31.03.2011 Estimated |
31.03.2012 Projected |
|
CURRENT
LIABILITIES |
|
|
|
Short term
borrowings form banks (Including bills purchased, discounted and excess
borrowings placed on repayment basis) |
|
|
|
Note: Bills
negotiated under LC should be excluded i)
From applicant bank ii)
From other banks |
|
|
|
Bank Borrowings – From the Bank |
15.000 |
15.000 |
|
Bank Borrowings- From other Banks |
-- |
-- |
|
Sub Total |
15.000 |
15.000 |
|
|
|
|
|
Short Term
borrowings form others |
|
|
|
|
|
|
|
Creditors for purchases |
19.736 |
23.012 |
|
Advances/ payment form customers/ deposits from dealers |
-- |
-- |
|
Provisions |
|
|
|
- Tax |
1.353 |
1.353 |
|
- Others |
-- |
-- |
|
Dividend Payable |
|
|
|
Statutory liabilities due within one year |
0.258 |
0.258 |
|
Installments of
Term Loans/ Deferred payment credits/ Debentures/ deposits / redeemable
preference share (due within one year) |
|
|
|
Deposits |
-- |
-- |
|
Other Current
Liabilities |
2.819 |
3.317 |
|
Total Current
Liabilities |
39.166 |
42.940 |
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
Debentures |
-- |
-- |
|
Preference Shares |
-- |
-- |
|
Dealer’s Deposit |
-- |
-- |
|
Deferred Tax Liability |
0.015 |
0.015 |
|
Term Loans |
-- |
-- |
|
Term Deposits |
-- |
-- |
|
Unsecured Loans (Quasi Equity) |
0.173 |
0.173 |
|
Other Term Liabilities |
-- |
-- |
|
Total Term Liabilities |
0.188 |
0.188 |
|
TOTAL OUTSIDE
LIABILITIES |
39.354 |
43.128 |
|
|
|
|
|
NET WORTH |
|
|
|
Equity Share
Capital |
|
|
|
Share Capital (Paid-up) |
1.000 |
1.000 |
|
Share Application (finalized for allotment) |
-- |
-- |
|
Sub Total (Share
Capital) |
1.000 |
1.000 |
|
General Reserve |
-- |
-- |
|
Revaluation Reserve |
-- |
-- |
|
Other Reserve
and Surplus: |
|
|
|
Partners Capital / Proprietor’s Capital |
-- |
-- |
|
Share Premium |
9.737 |
9.737 |
|
Capital Subsidy |
-- |
-- |
|
Others |
-- |
-- |
|
Balance in P and L Account (+/-) |
7.564 |
12.700 |
|
NET WORTH |
18.301 |
23.437 |
|
TOTAL
LIABILITIES |
57.655 |
66.565 |
|
|
|
|
|
ASSETS |
|
|
|
Current Assets |
|
|
|
Cash and Bank Balances |
0.087 |
1.476 |
|
|
|
|
|
Investments |
|
|
|
Government and other trustee securities |
-- |
-- |
|
Fixed Deposit with Banks |
2.000 |
2.000 |
|
Others |
-- |
-- |
|
Receivables |
|
|
|
Receivables other than Deferred and Export (Domestic) |
34.055 |
39.163 |
|
Export Receivables |
-- |
-- |
|
Note: |
|
|
|
1. All receivables upto 180 days only to be included |
|
|
|
2. |
|
|
|
|
|
|
|
Deferred
Receivables (Due within one year |
|
|
|
Stocks-in-trade |
13.086 |
15.551 |
|
Advances to suppliers |
0.241 |
0.241 |
|
Advance payment of tax |
2.722 |
3.060 |
|
Other Current Assets |
0.456 |
0.912 |
|
TOTAL CURRENT
ASSETS |
52.647 |
62.403 |
|
|
|
|
|
Fixed Assets |
|
|
|
Gross Block |
4.369 |
4.639 |
|
Less: Accumulated Depreciation |
0.031 |
0.498 |
|
Net Block |
4.608 |
4.141 |
|
Capital Work in Progress |
-- |
-- |
|
|
|
|
|
Non- Current
Assets |
|
|
|
Investment/ Book
Debts/ Advances/ Deposits (Which are not current assets) |
-- |
-- |
|
Investment in Group Concerns |
-- |
-- |
|
Loans to Group concerns/ Advances to subsidiaries |
-- |
-- |
|
Investment in Others |
-- |
-- |
|
Advances to Suppliers of Capital Goods and contractors |
-- |
-- |
|
Deferred receivables (maturity exceeding one year) |
-- |
-- |
|
Debtors > 6 Months |
0.376 |
-- |
|
Security Deposits |
-- |
-- |
|
Others (Loans and Advances non current in nature, ICD’s etc.) |
-- |
-- |
|
|
|
|
|
Deferred Tax
Assets |
-- |
-- |
|
|
|
|
|
Obsolete Stocks |
-- |
-- |
|
Other
Non-Current Assets (Including Dues
form Directors) |
|
|
|
|
|
|
|
TOTAL NON CURRENT
ASSETS |
0.376 |
0.000 |
|
|
|
|
|
Intangible
Assets: Goodwill, Patens and Trademarks |
-- |
-- |
|
Accumulated Losses, Preliminary Expense, Miscellaneous Expenditure not
written off, other deferred revenue expenses |
0.024 |
0.020 |
|
TOTAL ASSETS |
57.655 |
66.564 |
|
|
|
|
|
TANGIBLE
NETWORTH |
18.277 |
23.417 |
|
|
|
|
|
DIFFERENCE IN
BALANCE SHEET |
0.000 |
[0.001] |
|
|
|
|
|
ADDITIONAL
INFORMATION |
|
|
|
Arrears of
Depreciation |
0.000 |
0.000 |
|
Total Contingent
Liabilities |
-- |
-- |
|
Arrears of Cumulative dividends |
-- |
-- |
|
Guarantees issued (relating to business) |
-- |
-- |
|
Guarantees issued (for group companies) |
-- |
-- |
|
Gratuity Liability not provided for |
-- |
-- |
|
Disputed Liabilities |
|
|
|
All other Contingent Liabilities (Including bills purchased – under LC) |
-- |
-- |
|
Total Debt obligations, matured in the year** |
-- |
-- |
|
** mandatory to enter for DSCR |
-- |
-- |
|
Capacity Utilization (%) |
-- |
-- |
|
PROJECTED PROFITABILITY
STATEMENTS |
-- |
-- |
|
Start year of the loan |
-- |
-- |
|
End year of the loan |
-- |
-- |
ASSESSMENT
OF FBWC REQUIREMENTS
(Rs.
in Millions)
|
PARTICULARS |
31.03.2011 Estimated |
31.03.2012 Projected |
|
Holdings Level |
|
|
|
|
|
|
|
Stock in trade (Amount) |
13.086 |
15.551 |
|
(Months’ cost of sale) |
203.95 |
205.91 |
|
Receivables – Domestic (Amount) |
34.055 |
39.163 |
|
(Months’ sales) |
468.37 |
459.04 |
|
Receivables- Export (Amount) |
0.000 |
0.000 |
|
(Months’ Sales) |
0.00 |
0.00 |
|
Other Current Assets (Amount) |
5.506 |
7.689 |
|
Total Current Assets |
52.647 |
62.403 |
|
Creditors (Amount) |
19.736 |
23.012 |
|
(Months’ Purchase) |
301.65 |
301.79 |
|
Other Current Liabilities (Amount) |
19.430 |
19.928 |
|
Total Current
Liabilities other than bank borrowings |
24.166 |
27.940 |
|
|
|
|
|
PERMISSIBLE BANK
FINANCE |
|
|
|
A. Working Capital Gap |
28.481 |
34.463 |
|
B. Minimum required NWC (i.e. 20% of the current assets excluding
export receivables) |
10.529 |
12.481 |
|
C. Estimated NWC |
13.481 |
19.463 |
|
D. Permissible Bank Finance (A-B) or (A-C) whichever is lower |
15.000 |
15.000 |
|
E. Net Working Capital to Total Current Assets (%) |
25.61 |
31.19 |
|
F. Bank Finance to Total Current Assts (%) |
28.49 |
24.04 |
|
G. Sundry Creditors to Total Current Assets (%) |
37.49 |
36.88 |
|
H. Other Current Liability to Total Current Assets (%) |
36.91 |
31.93 |
|
|
|
|
|
PERMISSIBLE BANK
FINANCE (Projected turnover method) |
|
|
|
1) Projected turnover for the year |
146.220 |
171.653 |
|
2) Gross Working Capital ( 25% of the Projected turnover) |
36.555 |
42.913 |
|
3) Borrowers margin (Min of 20% of GWC of projected NWC whichever is
higher) |
13.481 |
19.463 |
|
4) Permissible bank finance (2-3) |
23.074 |
23.450 |
------------------------------------------------------------------------------------------------------------------------------
Operations:
The above performance of the company is for the entire 12 months as
against 3 months in the last year. As they are aware that the company has got
the distributorship of Dow Corning, however, during the year it has got
super-distributorship and accordingly the business of the company is bound to
increase manifolds in the year to come with a good margin.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24100MH2008PTC182345 |
|
Name of the
company |
K K CHEMPRO ( |
|
Address of the
registered office or of the principal place of business in |
Kishor CHS Limited, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
|
|
Particular of charge
holder |
Corporation Bank, Nariman Point Branch, 1st Floor, Earnest
House, Nariman Point, Mumbai-400021, |
|
Nature of
instrument creating charge |
Memorandum of
Deposit of Title Deeds by A Company |
|
Date of instrument
Creating the charge |
15.09.2010 |
|
Amount secured by
the charge |
Rs. 25.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As Stipulated by
bank from time to time Terms of Repayment
As Stipulated by
bank from time to time Margin As Stipulated by
bank from time to time Extent and
Operation of the charge First charge
(Present and future) = Total limit Rs. 25.000 Millions (Cash Credit – Rs. 15.000
Millions, Bank Guarantee- Rs. 10.000 Millions)- Sub Limit under C C = Import
/ Inland LC = Rs. 5.000 Millions Others As stipulated by
bank from time to time and as agreement and sanction letter of the bank. |
|
Short particulars
of the property charged |
First Charge
(Present and future) – EMG of Office bearing No. 442 Admeasuring 532.93
Sq.ft., (Carpet Area) + Loft Area Admeasuring 94.13 sq.ft. + Flower Bed Area
Admeasuring 64.18 sq.ft. or thereabouts on the fourth floor, Neo Corporate
Plazza, Ramchandra Lane Extension, Malad- West, Mumbai with all current,
movable and fixed assets of the company. |
AS PER WEBSITE
Profile:
Subject The company formerly known as K K Chemical
industries was born in 1998. K K
Chempro
The company rely on its strong strength in understanding the technical
aspect of the product , shortlist the product and position it at the correct
time and price. In the last few years company has launched several products
from dowcorning/evonic/clariant/lubrizol which were new for the Indian markets
and today are running successfully.
The company has also been awareded with best performing distributor as
well as technical excellence awards continously by different companies
associated with them. They concentrate the business in trading of silicone,
acrylics, silicas with a strong back up support. K K chempro under
K.K.Speciality silicones has a manufacturing setup under which silcone based
products are manufactured which has a strong Indian and overseas markets. The
company targets to add further products from the existing companies as well as
add new portfolios in the coming years.
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.45.09 |
|
|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.43 |
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.