MIRA
INFORM REPORT
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Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
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Name : |
KISHORE AMPOULES PRIVATE LIMITED |
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Registered
Office : |
174, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.07.1985 |
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Com. Reg. No.: |
11-36882 |
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CIN No.: [Company Identification
No.] |
U28129MH1985PTC036882 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK11416G |
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PAN No.: [Permanent Account No.] |
AAACK2123K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Packaging Material. |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 28000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some losses being incurred by the company in the current year. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small to mediocre 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.
INFORMATION PARTED BY
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Name : |
Mr. Krishankishore Nandkishore Mehra |
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Designation : |
Director |
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Contact No.: |
91-22-25345424 |
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Date : |
03.05.2011 |
LOCATIONS
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Registered Office : |
174, |
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Tel. No.: |
91-22-25345180 |
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Fax No.: |
91-22-25366431 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Corporate Office/ Factory : |
Kishore Industrial Estate, Majiwada, Thane-400 601, |
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Tel. No.: |
91-22-25345424 |
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Fax No.: |
91-22-25366431 |
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Administrative Office : |
15, Samrat Compound, LBS Marg, Vikhroli (West), Mumbai-400 079, |
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Fax No.: |
91-22-25974309 |
DIRECTORS
As on 27.09.2010
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Name : |
Mr. Krishankishore Nandkishore Mehra |
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Designation : |
Director |
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Address : |
14 B, Ganga Jamuna, |
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Date of Birth/Age : |
31.08.1961 |
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Date of Appointment : |
18.07.1985 |
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Name : |
Ms. Swarna Nandkishore Mehra |
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Designation : |
Director |
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Address : |
14 B, Ganga Jamuna, |
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Date of Birth/Age : |
02.12.1936 |
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Date of Appointment : |
18.07.1985 |
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Name : |
Mr. Subhashchader Pannalal Khanna |
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Designation : |
Director |
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Address : |
14 B, Ganga Jamuna, |
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Date of Birth/Age : |
17.01.1949 |
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Date of Appointment : |
25.11.1993 |
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Name : |
Mr. Nutan Subodh Bhel |
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Designation : |
Director |
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Address : |
Aman, Shre- E - Punjab, Mahakali Caves Road, Andheri (East),
Mumbai-400 069, Maharashtra, India |
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Date of Birth/Age : |
07.03.1956 |
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Date of Appointment : |
25.11.1993 |
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Name : |
Ms. Sulekha Krishan Mehra |
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Designation : |
Director |
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Address : |
14 B, Ganga Jamuna, |
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Date of Birth/Age : |
14.02.1963 |
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Date of Appointment : |
25.11.1993 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
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Names of Shareholders |
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No. of Shares |
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Nandkishore Investments Private Limited |
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1000 |
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Swarna N. Mehta |
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4000 |
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Krishan K. Mehta |
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4000 |
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Arjun K. Mehra |
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500 |
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Anuj K. Mehra |
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500 |
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Total |
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10000 |
As on 27.09.2010
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Category |
Percentage |
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Bodies corporate |
10.00 |
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Directors or relatives of Directors |
90.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceutical Packaging Material. |
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Products : |
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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 : |
Cash and Credit (30 to 60 to 90 days) |
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Purchasing : |
Cash and Credit (30 to 60 to 90 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Unit |
Actual
Production |
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Glass Ampoules |
Nos. |
769.06 Lacs |
GENERAL INFORMATION
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Customers : |
End Users , OEM’s ·
Bayer ·
Biocon ·
Cipla ·
Lupin ·
Medreich ·
Micro Labs ·
Wintac ·
Gland Pharma ·
Wintac ·
Natco Pharma |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Canara Bank, Vikhroli (West), Branch, Hazari Bagh, LBS Marg, Vikhroli,
Mumbai-400 086, |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
H. P. Gplchha and Company Chartered Accountants |
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Address : |
9, Mangalkunj, 3rd Floor, 19 S. N. Marg, Andheri (East),
Mumbai-400 069, |
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Associates/Subsidiaries : |
Kishor
Industries Address : 174, Line of Business: Manufacturer of Pharmaceutical Packaging Material. |
CAPITAL STRUCTURE
As on 27.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Share |
Rs.100/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Share |
Rs.100/- 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 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.074 |
10.104 |
9.891 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.074 |
11.104 |
10.891 |
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LOAN FUNDS |
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1] Secured Loans |
2.608 |
4.281 |
2.946 |
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2] Unsecured Loans |
0.999 |
0.996 |
0.990 |
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TOTAL BORROWING |
3.607 |
5.277 |
3.936 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.681 |
16.381 |
14.827 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.989 |
0.830 |
1.090 |
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25.923
|
27.014 |
29.936 |
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26.912 |
27.844 |
31.026 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.010 |
0.010 |
0.010 |
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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 |
5.655
|
5.298 |
5.080 |
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Sundry Debtors |
16.738
|
18.510 |
21.113 |
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Cash & Bank Balances |
2.448
|
0.874 |
1.310 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1.082
|
2.332 |
2.433 |
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Total
Current Assets |
25.923
|
27.014 |
29.936 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
15.709
|
9.854 |
14.794 |
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Other Current Liabilities |
0.000 |
0.000 |
0.000 |
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Provisions |
0.532
|
1.619 |
1.415 |
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Total
Current Liabilities |
16.241
|
11.473 |
16.209 |
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Net Current Assets |
9.682
|
15.541 |
13.727 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.681 |
16.381 |
14.827 |
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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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Sales |
46.214 |
40.515 |
43.153 |
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Dividend Income |
0.005 |
0.000 |
0.000 |
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Interest Income |
0.353 |
0.036 |
0.135 |
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Exchange Fluctuation Gain |
0.075 |
0.000 |
0.000 |
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Gain on |
0.030 |
0.000 |
0.000 |
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Miscellaneous Income |
0.000 |
0.000 |
0.008 |
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TOTAL (A) |
46.677 |
40.551 |
43.296 |
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Less |
EXPENSES |
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Raw Materials Consumed |
23.218 |
18.746 |
22.130 |
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Manufacturing and Other Expenses |
26.363 |
20.259 |
18.055 |
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TOTAL (B) |
49.581 |
39.005 |
40.185 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(2.904) |
1.546 |
3.111 |
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Less |
FINANCIAL
EXPENSES (D) |
0.872 |
0.868 |
0.839 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(3.776) |
0.678 |
2.272 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.254 |
0.261 |
0.167 |
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PROFIT BEFORE TAX
(E-F) (G) |
(4.030) |
0.417 |
2.105 |
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Less |
TAX (H) |
0.000 |
0.204 |
0.705 |
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PROFIT AFTER TAX
(G-H) (I) |
(4.030) |
0.213 |
1.400 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.105 |
8.892 |
7.492 |
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BALANCE CARRIED
TO THE B/S |
5.075 |
9.105 |
8.892 |
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IMPORTS |
4.115 |
0.851 |
3.242 |
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Earnings Per
Share (Rs.) |
(403) |
21.30 |
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Particulars |
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|
31.03.2011 |
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Sales Turnover (Approximately) |
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|
50.000 |
Expected Sales (2010-2011) : Rs.60.000 millions (Approximately)
The above information has been parted by Mr. Krishankishore Nandkishore
Mehra
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(8.63)
|
0.53 |
4.86 |
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Net Profit Margin (PBT/Sales) |
(%) |
(8.72)
|
1.03 |
4.88 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(14.97)
|
1.50 |
6.78 |
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Return on Investment (ROI) (PBT/Networth) |
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(0.57)
|
0.04 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.81
|
1.51 |
1.85 |
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Current Ratio (Current Asset/Current Liability) |
|
1.60
|
2.35 |
1.85 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
11.948 |
8.848 |
13.940 |
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Sundry Creditors
for Expenses |
3.761 |
1.006 |
0.854 |
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Total Creditors |
15.709 |
9.854 |
14.794 |
Operation:
The company’s performance for the year was better than previous year,
the income during the year was Rs.46.392 millions as against Rs.40.551 millions
in the previous year, the company made a loss of Rs.4.283 millions (Rs.0.204
million). The company expects to perform better in the coming year.
Trade Reference:
·
Aristo Laboratories
·
Tulip Diagnostics
·
Gufic Biosciences
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90215062 |
|
Corporate
identity number of the company |
U28129MH1985PTC036882 |
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Name of the
company |
KISHORE AMPOULES |
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Address of the
registered office or of the principal place of business in |
174, |
|
Type of charge |
Movable Property |
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Particular of
charge holder |
Canara Bank, Vikhroli (West), Branch, Hazari Bagh, LBS Marg, Vikhroli,
Mumbai-400 086, |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement |
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Date of
instrument Creating the charge |
22.11.2008 |
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Amount secured by
the charge |
Rs.2.000 Millions
|
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As Per The
Sanction Terms. Terms of
Repayment As Per The
Sanction Terms. Margi As Per The
Sanction Terms. Extent and
Operation of the charge As Per The Sanction
Terms. |
|
Short particulars
of the property charged |
Stock of Raw
Materials of Ampoules Semi Finished Goods, Finished Goods, Kept at Godown at
Kishore Industrial Estate, Majiwade, Thane 400601. |
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Date of latest modification
prior to the present modification |
16.07.2007 |
|
Particulars of
the present modification |
The original
charge was created on 9.11.85 for Rs.0.250 Millions 1stly modified 20.2.86
for Rs.0.500 Million 2ndly modified on 12.4.89 for Rs.0.700 Million. 3rdly
modified on 29.6.2001 for Rs.1.000 Million. 4thly modified on 23.7.2001 for
addl. Machinery as security. 5thly modified on 16.07.2007 for Rs.4.000
Millions. Now by this modification out of Rs.4.000 Millions only open cash
credit limit increased from Rs.1.000 Million to Rs.2.000 Millions total limit
Rs.2.000 Millions |
Fixed Assets:
·
Plant and Machinery
·
Factory Equipment
·
Air Conditioner
·
Vehicle
·
Water Coolers
·
Furniture and Fixtures
·
Computers
·
Office Equipments
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.44.34 |
|
|
1 |
Rs.70.70 |
|
Euro |
1 |
Rs.65.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
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|
|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.