MIRA
INFORM REPORT
|
Report No. : |
307640 |
|
Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
KANTILAL MANILAL AND COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Apeejay Chambers, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.04.1984 |
|
|
|
|
Com. Reg. No.: |
11-032694 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1984PTC032694 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK12362A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK5165B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Pharmaceutical Chemicals. |
|
|
|
|
No. of Employees
: |
22 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 290000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track.
Profitability of the company is sound. General financials of the company
appears to be satisfactory as well. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
Not Available
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Vinayak Desai |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-22317612 |
|
Date : |
12.02.2015 |
LOCATIONS
|
Registered
Office : |
Apeejay Chambers, 1st Floor, |
|
Tel. No.: |
91-22-22317612 / 22072325 / 22077192 / 66317612 / 22817612 / 22072354
/ 22071671 / 66317614 |
|
Mobile No.: |
91-9969857187 (Mr. Vinayak Desai) |
|
Fax No.: |
91-22-22317610 / 22070376 / 22040376 / 66317610 |
|
E-Mail : |
|
|
Area : |
1000 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Warehouse : |
Located at §
Bhiwandi |
DIRECTORS
AS ON 14.07.2014
|
Name : |
Mr. Anil Pannalal Shah |
|
Designation : |
Director |
|
Address : |
Sagar
Kunj 78, |
|
Date of Birth/Age : |
27.11.1944 |
|
Qualification : |
Post
Graduate |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
02422033 |
|
|
|
|
Name : |
Mr. Pankaj Pannalal Shah |
|
Designation : |
Director |
|
Address : |
510,
Chandralok, A-97, |
|
Date of Birth/Age : |
14.08.1951 |
|
Qualification : |
B.
Com. |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
00900217 |
|
|
|
|
Name : |
Mr. Atul Vinubhai Shah |
|
Designation : |
Director |
|
Address : |
53,
Sagar Kunj 78, |
|
Date of Birth/Age : |
28.12.1960 |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
02422085 |
|
|
|
|
Name : |
Mr. Mukesh Kantilal Shah |
|
Designation : |
Director |
|
Address : |
12A, Capri
Co-Operative Society Limited, Mumbai - 400 006, |
|
Date of Birth/Age : |
10.01.1959 |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
00501188 |
|
|
|
|
Name : |
Mrs. Nilamben Champaklal Shah |
|
Designation : |
Director |
|
Address : |
12A,
Capri Co-Operative Society Limited, Mumbai - 400 006, |
|
Date of Birth/Age : |
21.08.1932 |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
02368354 |
KEY EXECUTIVES
|
Name : |
Mr. Vinayak Desai |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 14.07.2014
|
Names of Shareholders |
No. of Shares |
|
Anil P Shah Jointly Devyani A Shah |
1100 |
|
Anil P Shah (HUF) Jointly Devyani A Shah |
750 |
|
Pankaj P. Shah (H.U.F.) Jointly Charu P. Shah |
750 |
|
Charu P Shah Jointly Pankaj P Shah |
850 |
|
Mansi P. Shah Jointly Charu P.
Shah |
50 |
|
Aditi P. Shah Jointly Charu P. Shah |
50 |
|
Devyani A Shah Jointly Anil P Shah |
750 |
|
Roma A. Shah Jointly Anil P. Shah |
100 |
|
Pooja A. Shah Jointly Anil P. Shah |
100 |
|
Atul Vinibhai Shah Jointly Sheetal A Shah |
1000 |
|
Kokilaben V. Shah Jointly Vinubhai P. Shah |
200 |
|
Atul Vinibhai Shah Jointly Sheetal A Shah |
675 |
|
Sheetal A Shah Jointly Atul Vinibhai Shah |
200 |
|
Dipali V. Shah Jointly Vinubhai P. Shah |
100 |
|
Mukesh K Shah Jointly Jyoti M Shah |
650 |
|
Jyoti M. Shah Jointly Mukesh K. Shah |
150 |
|
Pankaj P. Shah Jointly Charu P.
Shah |
1100 |
|
Nilamben C. Shah Jointly Pankaj P. Shah |
400 |
|
Alok A. Shah – Minor Atul V. Shah, Jointly Sheetal A. Shah |
175 |
|
Akshay A. Shah – Minor Atul V. Shah Jointly Sheetal A. Shah |
150 |
|
Jinal M. Shah –Minor Mukesh K. Shah Jointly Jyoti M. Shah |
150 |
|
Atul V. Shah (H.U.F. Atul V. Shah Jointly Sheetal A. Shah) |
300 |
|
Mukesh K Shah ( K. M. Shah H.U.F. Jointly Jyoti M Shah) |
250 |
|
|
|
|
Total |
10000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 14.07.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Pharmaceutical Chemicals. |
|
|
|
|
Products : |
· Aipic Acid · Butyl Cellosove
· Bisphenol · Carbitol · Chloroform · Cyclohexane · Cycloxexanone · Cyclohexulamine
· Dimethyl
Carbonate · DMDCS · Epichlorohydrine
· Hydrazine
Hydrate · Hydroquinone · Glycerine · Maleic
Anhydride · Methyl
Cellosolve · Morpholine · Neophentyl
Glycol · Perchloroehtylene
· Petroleum Ether
· Potassium
Carbonate · N-propariol
Pure · Propionic Acid · Propionis
Anhydride · Propylene
Glycol · Pyridine Pure · Thioglycollic
Acid · Vinyl Acetane
Manomer |
|
|
|
|
Brand Names : |
Not Divulged |
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|
|
|
Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Germany |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
22 (Approximately) |
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Bankers : |
·
The Hongkong and Shanghai Banking Corporation Limited,
52/60, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India ·
State Bank of India |
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Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Ramesh C. Shah and Company Chartered Accountants |
|
Address : |
307, Venkatesh Chambers, 3rd Floor, |
|
Tel. No.: |
91-22-22075636 |
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Fax No.: |
91-22-22070012 |
|
Email : |
|
|
PAN No.: |
AADPS8834K |
|
|
|
|
Membership : |
-- |
|
|
|
|
Subsidiaries : |
·
Kama Chemicals Private Limited ·
Atunil Properties Private Limited |
CAPITAL STRUCTURE
AS ON 14.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
101.352 |
93.520 |
85.421 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
102.352 |
94.520 |
86.421 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
177.622 |
170.113 |
225.702 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
177.622 |
170.113 |
225.702 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
88.311 |
115.298 |
58.978 |
|
(b) Trade payables |
136.012 |
117.924 |
144.300 |
|
(c) Other current
liabilities |
17.875 |
18.194 |
18.367 |
|
(d) Short-term provisions |
4.055 |
3.300 |
4.100 |
|
Total Current Liabilities (4) |
246.253 |
254.716 |
225.745 |
|
|
|
|
|
|
TOTAL |
526.227 |
519.349 |
537.868 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.978 |
2.499 |
3.078 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.477 |
0.388 |
0.388 |
|
(c) Deferred tax assets (net) |
0.296 |
0.288 |
0.266 |
|
(d) Long-term Loan and Advances |
5.798 |
5.648 |
s5.655 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
8.549 |
8.823 |
9.387 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
185.889 |
203.161 |
217.022 |
|
(c) Trade receivables |
218.340 |
213.572 |
222.665 |
|
(d) Cash and cash
equivalents |
100.685 |
87.497 |
79.889 |
|
(e) Short-term loans and
advances |
11.152 |
4.639 |
8.854 |
|
(f) Other current assets |
1.612 |
1.657 |
0.051 |
|
Total Current Assets |
517.678 |
510.526 |
528.481 |
|
|
|
|
|
|
TOTAL |
526.227 |
519.349 |
537.868 |
PROFIT & LOSS
ACCOUNT
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
TURNOVER |
NA |
NA |
NA |
|
|
|
|
|
|
PROFIT / [LOSS]
AFTER TAX |
7.831 |
8.099 |
8.138 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.60 |
3.02 |
3.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10 |
2.00 |
2.34 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
85.421 |
93.520 |
101.352 |
|
Net
worth |
86.421 |
94.520 |
102.352 |
|
|
|
|
|
|
long-term borrowings |
225.702 |
170.113 |
177.622 |
|
Short term borrowings |
58.978 |
115.298 |
88.311 |
|
Total
borrowings |
284.680 |
285.411 |
265.933 |
|
Debt/Equity
ratio |
3.294 |
3.020 |
2.598 |
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 |
|
|
9] |
Name of person contacted |
|
|
10] |
Designation of contact
person |
|
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
|
|
20] |
Export / Import details
(if applicable) |
|
|
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 |
Yes |
|
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 |
No |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90228629 |
02/09/2014 * |
280,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
52/60, Mahatma Gandhi Road,, Fort, Mumbai, Maharashtra - 400001, India |
C20028619 |
|
2 |
90228463 |
28/10/1991 |
6,500,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
M.G. Road, Fort, Mumbai, Maharashtra - 400001, India |
- |
*Date of modification Charges
FIXED ASSETS:
· Godown Premises
· Furniture and Fixtures
· Electrical Installation
· Type Writers
· Air Conditioner
· Refrigerator
· Xerox Machine
· Fax Machine
· Computer and Printers
· Voltage Stabilizer
· Weighing Machine
· Fire Extinguishers
· Telephone System
· Motor Cars
· Microwave Oven
· Books
· Printers
· Modem
· Capacitor
· Television
· UPS
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.62.15 |
|
|
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
|
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
49 |
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.