MIRA INFORM REPORT
|
Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KUDOS CHEMIE LIMITED (w.e.f.08.01.1998) |
|
|
|
|
Formerly Known
As : |
KUDOS CHEM LIMITED |
|
|
|
|
Registered
Office : |
Village Kuranwala, Barwala Road, Tehsil Derabassi, Patiala - 140507,
Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.09.1988 |
|
|
|
|
Com. Reg. No.: |
16-008663 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.167.055 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231PB1988PLC008663 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK6650K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
and Exporter of Miscellaneous Chemicals. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 10900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management of the company has failed to file its financial for the
year 2013 with the government department. As per available financial (2012), there seems huge external borrowing
recorded by the company. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealing with some caution. |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term = Fund Based Limits = BB+ |
|
Rating Explanation |
Have moderate risk of default |
|
Date |
April 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term = Fund Based Limits = A4 |
|
Rating Explanation |
Have minimal degree of safety and carry high
credit risk |
|
Date |
April 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 DENIED BY
|
Name : |
Ms. Jasmine Kohli |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-1762-391620 |
|
Date : |
24.04.2014 |
LOCATIONS
|
Registered Office / Factory : |
Village Kuranwala, Barwala Road, Tehsil Derabassi, Patiala - 140507, Punjab,
India |
|
Tel. No.: |
91-1762-280136 / 320423 |
|
Fax No.: |
91-1762-280336 |
|
E-Mail : |
|
|
|
|
|
Administrative Office : |
622, Sector 33-B, Chandigarh, Punjab, India |
|
Tel. No.: |
91-172-2145687 |
|
Fax No.: |
91-172-2603251 |
DIRECTORS
As on 30.11.2013
|
Name : |
Mr. Jitendra Singh |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
H. No. 1620, Sector 18-D, Chandigarh, Punjab, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.08.1962 |
||||||||||||||||||||||||||||||||||||
|
Qualifications: |
B. Tech |
||||||||||||||||||||||||||||||||||||
|
Experience : |
24 Years |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.02.2014 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ACJPS6832K |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00196892 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Gurmeet Sodhi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
H. No. 1620, Sector 18-D, Chandigarh, Punjab, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1967 |
||||||||||||||||||||||||||||||||||||
|
Qualifications: |
B.A. |
||||||||||||||||||||||||||||||||||||
|
Experience : |
22 Years |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.02.2014 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ACLPS0597B |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00196940 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Subramaniam Pancharatnam |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole time Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Sankalp Apartment, No. 5, Udyog Nagar, Chinchwad, Pune, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.08.1945 |
||||||||||||||||||||||||||||||||||||
|
Qualifications: |
M Tech |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2011 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ADLPS5598R |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00892095 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mrs. Suruchi Chhabra |
|
Designation : |
Secretary |
|
Address : |
II No. 1414, Sector 34C, Chandigarh, Punjab, India |
|
Date of Birth/Age : |
17.02.1980 |
|
Date of Appointment : |
01.05.2012 |
|
PAN No.: |
AHHPC8210E |
|
|
|
|
Name : |
Ms. Jasmine Kohli |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
As on 30.11.2013
|
Names of Shareholders |
|
No. of Shares |
|
Jitendra Singh |
|
7846344 |
|
Subramaniam Pancharatnam |
|
100 |
|
Harbhjan Knur |
|
12600 |
|
Gurnmeet Sodhi |
|
5383131 |
|
Kabir Sodhi |
|
904582 |
|
Bhupinder Singh |
|
100 |
|
Tejinder Kaur |
|
100 |
|
Kirat Sodhi |
|
904582 |
|
Darshan Singh |
|
16500 |
|
Kudos Agrohols Limited, India |
|
1475466 |
|
Kudos Holding Private Limited, India |
|
351573 |
|
Rajiv Kumar Varma and Sangeeta Varma |
|
140217 |
|
Total |
|
17035295 |
Equity Share Break up (Percentage of Total Equity)
As on 30.11.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
0.82 |
|
Bodies corporate |
10.73 |
|
Directors or relatives of Directors |
88.45 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Miscellaneous Chemicals. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N. Kumar Chhabra and Company Chartered Accountants |
|
Address : |
# 1081, Sector 27-B, Chandigarh, Punjab, India |
|
PAN No.: |
ADMPC3289L |
|
|
|
|
Associates : |
· Kudos Agrohols Limited CIN: U15520PB2005PLC028443 · Kudos Holdings Private Limited CIN: U74992CH2011PTC033018 |
CAPITAL STRUCTURE
As on 30.11.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17035295 |
Equity Shares |
Rs.10/- each |
Rs.170.353 Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16705461 |
Equity Shares |
Rs.10/- each |
Rs.167.055 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
167.055 |
159.391 |
|
(b) Reserves & Surplus |
|
2,547.050 |
1,623.151 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
2.601 |
38.827 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2,716.706 |
1,821.369 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3,854.549 |
2,157.793 |
|
(b) Deferred tax liabilities (Net) |
|
549.323 |
349.124 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
49.613 |
36.298 |
|
Total Non-current
Liabilities (3) |
|
4,453.485 |
2,543.215 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
6,244.820 |
4,178.338 |
|
(b) Trade
payables |
|
506.019 |
575.609 |
|
(c) Other
current liabilities |
|
722.357 |
524.132 |
|
(d) Short-term
provisions |
|
124.698 |
131.329 |
|
Total Current
Liabilities (4) |
|
7,597.894 |
5,409.408 |
|
|
|
|
|
|
TOTAL |
|
14,768.085 |
9,773.992 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
4,801.872 |
2,910.279 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
986.174 |
706.997 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
294.500 |
373.376 |
|
(e) Other
Non-current assets |
|
6.257 |
4.255 |
|
Total Non-Current
Assets |
|
6,088.803 |
3,994.907 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
22.198 |
2.189 |
|
(b)
Inventories |
|
5,166.648 |
3,486.859 |
|
(c) Trade
receivables |
|
1,929.178 |
1,446.401 |
|
(d) Cash
and cash equivalents |
|
333.385 |
159.951 |
|
(e)
Short-term loans and advances |
|
1,180.529 |
650.131 |
|
(f) Other
current assets |
|
47.344 |
33.554 |
|
Total
Current Assets |
|
8,679.282 |
5,779.085 |
|
|
|
|
|
|
TOTAL |
|
14,768.085 |
9,773.992 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
150.000 |
|
|
2] Share Application Money |
|
|
123.017 |
|
|
3] Reserves & Surplus |
|
|
1171.950 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1444.967 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3849.633 |
|
|
2] Unsecured Loans |
|
|
766.106 |
|
|
TOTAL BORROWING |
|
|
4615.739 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6060.706 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2061.160 |
|
|
Capital work-in-progress |
|
|
729.614 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.900 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1585.437 |
|
|
Sundry Debtors |
|
|
1289.020 |
|
|
Cash & Bank Balances |
|
|
277.488 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
846.215 |
|
Total
Current Assets |
|
|
3998.160 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
519.087 |
|
|
Other Current Liabilities |
|
|
11.813 |
|
|
Provisions |
|
|
201.419 |
|
Total
Current Liabilities |
|
|
732.319 |
|
|
Net Current Assets |
|
|
3265.841 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
2.191 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6060.706 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
7824.421 |
5436.284 |
3627.336 |
|
|
|
Other Income |
15.844 |
7.171 |
6.167 |
|
|
|
TOTAL
(A) |
7840.265 |
5443.455 |
3633.503 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
5978.502 |
4291.866 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(1095.576) |
(898.503) |
|
|
|
|
Employee benefit expense |
181.992 |
139.907 |
|
|
|
|
Other expenses |
521.440 |
348.952 |
|
|
|
|
TOTAL (B) |
5586.358 |
3882.222 |
2513.034 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2253.907 |
1561.233 |
1120.469 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1155.735 |
771.807 |
360.773 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1098.172 |
789.426 |
759.696 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
158.225 |
113.738 |
86.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
939.947 |
675.688 |
672.908 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
351.202 |
229.712 |
255.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
588.745 |
445.976 |
417.474 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5455.287 |
4616.530 |
2073.972 |
|
|
|
TOTAL |
5455.287 |
4616.530 |
2073.972 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4040.462 |
4049.483 |
263.542 |
|
|
|
Capital Goods |
36.972 |
51.586 |
0.000 |
|
|
TOTAL IMPORTS |
4077.434 |
4101.069 |
263.542 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
36.54 |
29.73 |
27.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.51
|
8.19 |
11.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.01
|
12.43 |
18.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.82
|
7.45 |
11.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.37 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.72
|
3.48 |
3.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.07 |
5.46 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
150.000 |
159.391 |
167.055 |
|
Reserves & Surplus |
1171.950 |
1623.151 |
2547.050 |
|
Share Application money pending allotment |
123.017 |
38.827 |
2.601 |
|
Net
worth |
1444.967 |
1821.369 |
2716.706 |
|
|
|
|
|
|
long-term borrowings |
3849.633 |
6071.509 |
9912.612 |
|
Short term borrowings |
766.106 |
264.622 |
186.757 |
|
Total
borrowings |
4615.739 |
6336.131 |
10099.369 |
|
Debt/Equity
ratio |
3.194 |
3.479 |
3.718 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
3,627.336 |
5,436.284 |
7,824.421 |
|
|
|
49.870 |
43.930 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
3,627.336 |
5,436.284 |
7,824.421 |
|
Profit |
417.474 |
445.976 |
588.745 |
|
|
11.51% |
8.20% |
7.52% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Other loans and advances |
186.757 |
215.131 |
|
Short Term Borrowings |
|
|
|
Loans repayable on demand from banks |
0.000 |
49.491 |
|
Total |
186.757 |
264.622 |
EXPANSION
PROGRAMME:
The Company commissioned a Multipurpose Purine plant in 2011-12 and will
continue to focus on its expansion plans for growing revenues and profitability
and reducing its cost of production. The Company has plans to expand its intermediate
basket by manufacturing products that have synergies with Purines and all those
API s (Valacyclovir and Tenofovir) produced from these Purines.
OPERATIONS:
Kudos performance during the year has been impressive on all grounds
with the net turnover of the company increasing to Rs.7840.300 Millions from
Rs.5443.500 Millions last year, with an overall representing growth of 44%.
During the profit after tax of the Company is Rs.588.700 Millions, which has
increased by 32% due to growth in turnover and operational efficiencies.
NATURE OF
OPERATIONS
Kudos Chemie Limited (hereinafter referred to as Kudos or the Company),
born out of the growing market demand for high quality Xanthenes, is one of the
fastest growing companies in India. Kudos has proven track record and
established capabilities in manufacturing, technological up gradation, research
and development and project execution. Kudos is India’s largest producer of
Synthetic Caffeine and is amongst the top five companies globally
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10480677 |
28/01/2014 |
520,000,000.00 |
CENTRAL BANK OF INDIA |
Sector 17b, Chandigarh, Chandigarh - 160017, India |
B97627624 |
|
2 |
10474578 |
03/12/2013 |
500,000,000.00 |
Punjab National Bank |
Large Corporate Branch, Sector 17, Chandigarh, Chandigarh - 160017, India |
B95055752 |
|
3 |
10459773 |
28/09/2013 |
800,000,000.00 |
IDBI Bank Limited |
IDBI Tower, W.T.C. Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B89312375 |
|
4 |
10425186 |
16/03/2013 |
80,000,000.00 |
Punjab National Bank |
Large Corporate Branch, Sector 17, Chandigarh, Chandigarh - 160017, India |
B74882945 |
|
5 |
10423868 |
11/03/2013 |
540,000,000.00 |
Punjab National Bank |
Large Corporate Branch, Sector 17, Chandigarh, Chandigarh - 160017, India |
B74446857 |
|
6 |
10401566 |
10/01/2013 |
200,000,000.00 |
Punjab National Bank |
Large Corporate Branch, Sector 17, Chandigarh, Chandigarh - 160017, India |
B67481317 |
|
7 |
10381210 |
18/09/2012 |
2,262,737.00 |
Siemens Financial Services Private Limited |
130, Pandurang Budhkar Marg,, Worli, Mumbai, Maharashtra - 400018, India |
B59957514 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.52 |
|
|
1 |
Rs.101.77 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.