MIRA
INFORM REPORT
|
Report Date : |
10.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
KOSMOCHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
76, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.09.1972 |
|
|
|
|
Com. Reg. No.: |
11-015993 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.183 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1972PTC015993 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK13067F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2781M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer and Distributor of Hospital Consumables and Home Healthcare
Products |
|
|
|
|
No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 220000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for normal 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 DECLINED BY
Management non co-operative.
LOCATIONS
|
Registered Office : |
76, |
|
Tel. No.: |
91-22-23447833 / 23445018 |
|
Fax No.: |
91-22-23447773 |
|
E-Mail : |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Sakib Rasheed Maskati |
|
Designation : |
Director |
|
Address : |
Maskati Villa,
Windy |
|
Date of Birth/Age : |
24.01.1960 |
|
Date of Appointment : |
16.03.1995 |
|
DIN No.: |
00057790 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U32106MH1984PTC033564 |
SYSENG
DATA TECHNIQUES PRIVATE LIMITED |
Director |
15-02-85 |
15-02-85 |
Strike
off |
NO |
|
2 |
U65920MH1986PTC040492 |
ATEM
FINANCE PRIVATE LIMITED |
Director |
20-05-91 |
20-05-91 |
Active |
NO |
|
3 |
U24110MH1972PTC015993 |
KOSMOCHEM
PRIVATE LIMITED |
Director |
16-03-95 |
16-03-95 |
Active |
NO |
|
4 |
U24230MH1981PTC023723 |
KAYCEE
HEALTHCARE PRIVATE LIMITED |
Director |
31-03-98 |
31-03-98 |
Active |
NO |
|
5 |
U65990MH1972PTC016019 |
MASKATI
INVESTMENT PRIVATE LIMITED |
Director |
01-12-00 |
01-12-00 |
Active |
NO |
|
6 |
U51220MH1920PTC000753 |
RANE
PRIVATE LIMITED |
Director |
29-09-01 |
29-09-01 |
Active |
NO |
|
7 |
U51900MH1943PTC004066 |
D C
OMRIGAR AND COMPANY PRIVATE LIMITED |
Director |
09-06-03 |
09-06-03 |
Active |
NO |
|
Name : |
Mr. Rasheed Abdultayeb Maskati |
|
Designation : |
Director |
|
Address : |
Maskati Villa,
Windy |
|
Date of Birth/Age : |
12.08.1926 |
|
Date of Appointment : |
22.09.1972 |
|
DIN No.: |
00057850 |
Other
Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
L17120MH1900PLC000176 |
EMPIRE
INDUSTRIES LIMITED |
Director |
04-07-72 |
04-07-72 |
Active |
NO |
|
2 |
U24110MH1972PTC015993 |
KOSMOCHEM
PRIVATE LIMITED |
Director |
22-09-72 |
22-09-72 |
Active |
NO |
|
3 |
U32106MH1984PTC033564 |
SYSENG
DATA TECHNIQUES PRIVATE LIMITED |
Director |
10-03-97 |
10-03-97 |
Strike
off |
NO |
|
4 |
U51220MH1920PTC000753 |
RANE
PRIVATE LIMITED |
Director |
25-10-97 |
25-10-97 |
Active |
NO |
|
5 |
U65990MH1972PTC016019 |
MASKATI
INVESTMENT PRIVATE LIMITED |
Director |
01-12-00 |
01-12-00 |
Active |
NO |
|
6 |
U51900MH1943PTC004066 |
D C
OMRIGAR AND COMPANY PRIVATE LIMITED |
Director |
09-06-03 |
09-06-03 |
Active |
NO |
|
7 |
U65910DL1997PLC089526 |
BHP
MARITIME LIMITED |
Director |
08-01-04 |
08-01-04 |
Dormant |
NO |
|
Name : |
Mr. Munaf Ebrahim Presswala |
|
Designation : |
Managing Director |
|
Address : |
C/12, Jubilee
Compound, 33-35, |
|
Date of Birth/Age : |
13.02.1965 |
|
Date of Appointment : |
16.03.1995 |
|
DIN No.: |
00612291 |
Other
Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1972PTC015993 |
KOSMOCHEM
PRIVATE LIMITED |
Managing
director |
16-03-95 |
16-03-95 |
Active |
NO |
|
2 |
U24230MH1981PTC023723 |
KAYCEE
HEALTHCARE PRIVATE LIMITED |
Managing
director |
03-04-96 |
03-04-96 |
Active |
NO |
|
Name : |
Mr. Munira Eshaq Dalal |
|
Designation : |
Director |
|
Address : |
127/129, |
|
Date of Birth/Age : |
06.12.1969 |
|
Date of Appointment : |
06.07.2009 |
|
DIN No.: |
02670098 |
|
|
|
|
Name : |
Mr. Fowziya Munaf Presswala |
|
Designation : |
Director |
|
Address : |
C/12, Jubilee
Compound, 33-35, |
|
Date of Birth/Age : |
01.08.1966 |
|
Date of Appointment : |
06.07.2009 |
|
DIN No.: |
02670165 |
|
|
|
|
Name : |
Mr. Mustafa Abdeali Garothwala |
|
Designation : |
Director |
|
Date of Appointment : |
02.05.2011 |
|
DIN No.: |
03514068 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sakib Rasheed Maskati |
100 |
|
Rasheed Abdultayeb Maskati |
245 |
|
Munaf Ebrahim Presswala |
640 |
|
Munira Eshaq Dalal |
100 |
|
Fowziya Munaf Presswala |
400 |
|
Mustafa Abdeali Garothwala |
20 |
AS ON 26.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Distributor of Hospital Consumables and Home Healthcare
Products |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
|
|
|
|
Bankers : |
·
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Varawala and Arif Chartered Accountant |
|
Address : |
Rahimtoola House, 3rd Floor, 7, |
|
Tel. No.: |
91-22-22641565 / 66 / 67 |
|
Fax No.: |
91-22-22641568 |
|
Pan No.: |
AAAFV1767F |
|
|
|
|
Subsidiaries : |
Kaycee Healthcare Private Limited CIN No.:- U24230MH1981PTC023723 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1830 |
Equity Shares |
Rs.100/-
each |
Rs. 0.183
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.183 |
0.180 |
0.180 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
55.547 |
44.278 |
34.952 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
55.730 |
44.458 |
35.132 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
55.730 |
44.458 |
35.132 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.174 |
1.086 |
1.178 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
20.873 |
8.053 |
3.701 |
|
|
DEFERREX TAX ASSETS |
0.183 |
0.116 |
0.077 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
26.089
|
21.895 |
17.108 |
|
|
Sundry Debtors |
15.659
|
16.622 |
10.774 |
|
|
Cash & Bank Balances |
4.946
|
6.891 |
12.183 |
|
|
Other Current Assets |
1.504
|
1.490 |
0.683 |
|
|
Loans & Advances |
13.082
|
13.983 |
18.173 |
|
Total
Current Assets |
61.280
|
60.881 |
58.921 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.217
|
11.998 |
10.803 |
|
|
Other Current Liabilities |
0.136
|
0.022 |
1.776 |
|
|
Provisions |
14.427
|
13.659 |
16.166 |
|
Total
Current Liabilities |
28.780
|
25.679 |
28.745 |
|
|
Net Current Assets |
32.500
|
35.202 |
30.176 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
55.730 |
44.458 |
35.132 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
SALES |
168.573 |
154.568 |
118.489 |
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
168.573 |
154.568 |
118.489 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
148.885 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
148.885 |
137.420 |
102.164 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
19.688 |
|
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.349 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
19.339 |
17.148 |
16.325 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.400 |
5.861 |
5.565 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
12.939 |
11.287 |
10.760 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7070.49 |
6270.56 |
5977.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.68
|
7.30 |
9.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.39
|
27.62 |
27.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.39 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.52
|
0.58 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.13
|
2.37 |
2.05 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Sundry Creditors for Goods |
5.537 |
4.387 |
3.747 |
|
Sundry Creditors for Expenses |
8.680 |
7.611 |
7.056 |
|
Total |
14.217 |
11.998 |
10.803 |
OPERATIONS
Sales and other income for the year Rs. 168.573 Millions.
FORM 8
|
Corporate
identity number of the company |
U24110MH1972PTC015993 |
|
Name of the
company |
KOSMOCHEM PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
76, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Movable property
(not being pledge) Others |
|
Particular of
charge holder |
|
|
Nature of
instrument creating charge |
Agreement for
Hypothecation of stocks |
|
Date of
instrument Creating the charge |
01.07.2009 |
|
Amount secured by
the charge |
Rs. 2.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest @ 14.5 %
p. a or such other rate as agreed between the borrower company and the bank
from time to time. Penal interest
rate, as agreed between the borrower company and the bank from time to time. Terms of repayment Repayment, as
agreed between the borrower company and the bank from time to time. Margin Margin @ 40 % Extent and operation of the charge At the request of
the borrower company, the bank has sanctioned additional Overdraft limit of
Rs. 1.000 Million [The total overdraft limit stands enhanced from Rs. 1.000
Million to Rs. 2.000 Millions] against hypothecation of present and future
stocks of imported / indigenous disposable needles, syringes etc. The total charge
stands modified from Rs. 1.000 Million To Rs. 2.000 Millions |
|
Short particulars
of the property charged (Including location of the property) |
At the request of
the borrower company, the bank has sanctioned additional Overdraft limit of
Rs. 1.000 Million [The total overdraft limit stands enhanced from Rs. 1.000
Million to Rs. 2.000 Millions] against hypothecation of present and future
stocks of imported / indigenous disposable needles, syringes etc. The total charge
stands modified from Rs. 1.000 Million To Rs. 2.000 Millions |
|
Charge
identification number of the charge to be modified |
90240719 |
|
Particulars of
the present modification |
At the request of
the borrower company, the bank has sanctioned additional Overdraft limit of
Rs. 1.000 Million [The total overdraft limit stands enhanced from Rs. 1.000
Million to Rs. 2.000 Millions] against hypothecation of present and future
stocks of imported / indigenous disposable needles, syringes etc. The total charge
stands modified from Rs. 1.000 Million To Rs. 2.000 Millions |
FIXED ASSETS
·
Furniture and Fixtures
·
Motor Car
·
Computer
·
Motor Car
·
Cycle
·
Air Conditioner
·
Office Equipments
·
Godwoon
·
Sellings Machine
·
Delivery Van
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. 49.28 |
|
|
1 |
Rs. 78.09 |
|
Euro |
1 |
Rs. 65.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.