|
Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
KALPATARU ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101, Terminal 9, Near Hotel Sahara Star, Nehru Road, Vile Parle (East), Mumbai - 400057, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
17.06.1997 |
|
|
|
|
Com. Reg. No.: |
11-108843 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1997PTC108843 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK06930A / MUMM21177C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK3689H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Stabilizers. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 810000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
The latest financials are not available. As per the of 2011, the financials position
of the company is good and the performance capability is also good. Trade
relations are reported as 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB+ (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
09.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2 (Short Term Rating) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
09.04.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (EMPLOYEE PROVIDENT FUND) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
Management Non Co-operative (91-22-67489899)
LOCATIONS
|
Registered/ Corporate Office / Factory : |
101, Terminal 9, Near Hotel
Sahara Star, Nehru Road, Vile Parle (East), Mumbai - 400057, Maharashtra,
India |
|
Tel. No.: |
91-22-67489899 |
|
Fax No.: |
91-22-67489897/ 9898 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Agents : |
Located at
|
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Sandeep Mahendra Shah |
|
Designation : |
Director |
|
Address : |
B-5, Govind Niwas, Sarojani Road,, Vile Parle (West), Mumbai - 400056, Maharashtra, India |
|
Date of Birth/Age : |
14.01.1967 |
|
Date of Appointment : |
18.06.1997 |
|
DIN No.: |
00306045 |
|
|
|
|
Name : |
Mr. Rajeev Ramesh Mehendale |
|
Designation : |
Director |
|
Address : |
8-K, Shardashram, B.S. Road, Dadar (West), Mumbai -
400028, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1969 |
|
Date of Appointment : |
18.08.1997 |
|
DIN No.: |
00306068 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rajeev Ramesh Mehendale |
|
548900 |
|
Ramesh Anant Mehendale |
|
83600 |
|
Sandeep Mahendra Shah |
|
447300 |
|
Pushpalata Ramesh Mehendale |
|
146300 |
|
Avani Sandeep Shah |
|
61600 |
|
Swati Ramesh Mehendale |
|
474100 |
|
Malti Ramesh Mehendale |
|
1100 |
|
Sandeep Shah HUF |
|
166100 |
|
Rajeev Mehendale HUF |
|
66000 |
|
Niki Sandeep Shah |
|
320100 |
|
Nishi Sandeep Shah |
|
324500 |
|
Sharadkumar Krishnadas Parekh |
|
100 |
|
Sharadkumar K. Parekh HUF |
|
100 |
|
Manorama Sharadkumar Parekh |
|
100 |
|
Vaishali Nimesh Parekh |
|
100 |
|
Total |
|
2640000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.98 |
|
Other top fifty shareholders |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Stabilizers. |
||||||||||||||||||||||||||||||||||||
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|
|
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|
Products : |
|
PRODUCTION STATUS
|
Particulars |
Unit |
31.03.2011 |
|
Installed
Capacity |
M.T. |
20000 |
|
Actual
Production |
M.T. |
10858 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
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||||||||||||||||||
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||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
K B Mehta and Company Chartered Accountants |
|
Address : |
106, Unique Apartment, 1st Floor, S V Road, IRLA, Vile
Parle (West), Mumbai - 400056, Maharashtra, India |
|
PAN No.: |
AABPM9871E |
|
|
|
|
Associates : |
Sankalp Organics Private Limited |
CAPITAL STRUCTURE
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2640000 |
Equity Shares |
Rs.10/- each |
Rs.26.400
Millions |
|
|
|
|
|
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
240000 |
Equity Shares |
Rs.10/- each |
Rs.2.400
Millions |
|
|
|
|
|
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 |
2.400 |
2.400 |
2.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
201.145 |
149.570 |
104.251 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
203.545 |
151.970 |
106.651 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
48.230 |
4.938 |
7.542 |
|
|
2] Unsecured Loans |
29.767 |
30.227 |
16.332 |
|
|
TOTAL BORROWING |
77.997 |
35.165 |
23.874 |
|
|
DEFERRED TAX LIABILITIES |
1.674 |
1.913 |
0.770 |
|
|
|
|
|
|
|
|
TOTAL |
283.216 |
189.048 |
131.295 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
74.771 |
76.759 |
29.454 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
12.488 |
1.955 |
26.086 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
55.040
|
24.347 |
16.575
|
|
|
Sundry Debtors |
191.813
|
137.688 |
86.016
|
|
|
Cash & Bank Balances |
1.798
|
1.046 |
3.832
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
59.012
|
69.029 |
46.174
|
|
Total
Current Assets |
307.663
|
232.110 |
152.597 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
84.706
|
62.566 |
40.132
|
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
27.000
|
59.210 |
36.710
|
|
Total
Current Liabilities |
111.706
|
121.776 |
76.842 |
|
|
Net Current Assets |
195.957
|
110.334 |
75.755
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
283.216 |
189.048 |
131.295 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
923.246 |
691.655 |
545.516 |
|
|
|
Other Income |
16.425 |
26.106 |
8.489 |
|
|
|
TOTAL (A) |
939.671 |
717.761 |
554.005 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase / (Decrease) in Stock |
(16.156) |
(1.517) |
(3.900) |
|
|
|
Cost of Materials |
764.401 |
564.186 |
420.140 |
|
|
|
Manufacturing Expenses |
39.324 |
34.740 |
30.313 |
|
|
|
Administrative and Selling Expenses |
58.900 |
41.070 |
41.478 |
|
|
|
Excess Provision
for Taxation |
(0.540) |
0.009 |
(0.312) |
|
|
|
TOTAL (B) |
845.929 |
638.488 |
487.719 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
93.742 |
79.273 |
66.286 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.365 |
3.912 |
4.124 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
89.377 |
75.361 |
62.162 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.872 |
6.232 |
2.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
78.505 |
69.129 |
60.150 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
26.761 |
23.643 |
21.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
51.744 |
45.486 |
38.743 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
0.000 |
0.000 |
|
|
|
Dividend |
0.144 |
0.144 |
0.144 |
|
|
|
Tax on Dividend |
0.024 |
0.024 |
0.024 |
|
|
BALANCE CARRIED
TO THE B/S |
1.576 |
45.318 |
38.575 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
189.439 |
129.074 |
135.064 |
|
|
TOTAL EARNINGS |
189.439 |
129.074 |
135.064 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
131.427 |
69.877 |
132.530 |
|
|
TOTAL IMPORTS |
131.427 |
69.877 |
132.530 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
215.60 |
189.53 |
161.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.51
|
6.33 |
6.99
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.50
|
9.99 |
11.02
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.53
|
22.38 |
33.04
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.45 |
0.56
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38
|
0.23 |
0.22
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.75
|
1.91 |
1.98
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
|
|
|
|
From Directors |
7.745 |
8.376 |
|
From Share Holder |
10.480 |
10.286 |
|
From Other |
5.634 |
5.657 |
|
Deferment of Sales Tax |
5.908 |
5.908 |
|
Total |
29.767 |
30.227 |
FIXED ASSETS:
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 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.58.41 |
|
|
1 |
Rs.91.62 |
|
Euro |
1 |
Rs.78.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.