MIRA INFORM REPORT
|
Report No. : |
311944 |
|
Report Date : |
24.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
KK INDIA
PETROLEUM SPECIALITIES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
706, Palm Spring Centre, Link Road, Malad (West), Mumbai-400064
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.03.1998 |
|
|
|
|
Com. Reg. No.: |
11-113942 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23200MH1998PTC113942 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK07309B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK8544Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Indenting agents and Trading in Petroleum and Specialties Chemicals
and Trading and Investments into Securities. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
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 63000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
|
Name : |
Mr. Kalpesh Manharlal Modi |
|
Designation : |
Director |
|
Contact No.: |
91-9820140450 |
|
Date : |
19.03.2015 |
LOCATIONS
|
Registered Office : |
706, Palm Spring Centre, Link Road, Malad (West), Mumbai-400064 Maharashtra,
India |
|
Tel. No.: |
91-22-28764569 |
|
Mobile No.: |
91-9820140450 (Mr. Kalpesh Manharlal Modi) |
|
Fax No.: |
91-22-28762563 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Unit # A/112-118, Synthofine Estate,
Off. Aarey Road, Goregaon (East), Mumbai – 400063, |
|
Tel. No.: |
91-22-28764569/28764570 |
|
Fax No.: |
91-22-28762563 |
DIRECTORS
As on : 30.09.2014
|
Name : |
Mr. Kalpesh Manharlal Modi |
|
Designation : |
Director |
|
Address : |
B – 305, Raj Residency – 1, Mahavir Nagar, Dahanokarwadi, Kandivali
(W), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
09.08.1961 |
|
Qualification : |
MBA |
|
Date of Appointment : |
18.03.1998 |
|
DIN No.: |
00443445 |
|
|
|
|
Name : |
Mrs. Ketan Kalpesh Modi |
|
Designation : |
Director |
|
Address : |
B – 305, Raj Residency – 1, Mahavir Nagar, Dahanokarwadi, Kandivali
(W), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
04.12.1963 |
|
Qualification : |
M.com |
|
Date of Appointment : |
18.03.1998 |
|
DIN No.: |
00443557 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kalpesh Mahharlal Modi |
|
21100 |
|
Ketna Kalpesh Modi |
|
6100 |
|
Dhanlaxmi Manharlal Modi |
|
19660 |
|
Kalpesh Modi HUF |
|
1000 |
|
Manal Kalpesh Modi |
|
1000 |
|
Priyam Kalpesh Modi |
|
1000 |
|
Mayur Kalpesh Modi |
|
10 |
|
Mayur Modi HUF |
|
10 |
|
Manan Modi |
|
10 |
|
Naman Modi |
|
10 |
|
Manharlal V. Modi HUF |
|
100 |
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
%age |
|
Directors or relatives of Directors |
100.00 |
100.00 |
|
Total |
100.00 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Indenting agents and Trading in Petroleum and Specialties Chemicals
and Trading and Investments into Securities. |
|
|
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|
Products : |
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|
|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
Shah Shah and Thakkar Chartered Accountant |
|
Address : |
6th Floor, 3-C Jai Hind Society, DR. A. M. Road,
Bhuleshwar, Mumbai – 400002, Maharashtra, India |
|
PAN No.: |
ACKFS7363N |
|
|
|
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Financial
Institutions : |
Citi Bank N. A. |
|
Address : |
Trent House, 2Nd Floor, G Block, Plot No. C 60, Bandra
Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on : 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
21.445 |
18.619 |
16.798 |
|
(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) |
21.945 |
19.119 |
17.298 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.067 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.578 |
3.148 |
1.586 |
|
Total
Non-current Liabilities (3) |
3.578 |
3.148 |
1.653 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
44.474 |
26.642 |
29.323 |
|
(b) Trade payables |
21.943 |
30.181 |
17.265 |
|
(c) Other current liabilities |
2.046 |
1.929 |
0.969 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
68.463 |
58.752 |
47.557 |
|
|
|
|
|
|
TOTAL |
93.986 |
81.019 |
66.508 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.354 |
5.333 |
4.320 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.681 |
0.439 |
0.000 |
|
(d) Long-term Loan and Advances |
0.596 |
0.503 |
0.496 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
5.631 |
6.275 |
4.816 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
64.101 |
60.370 |
45.770 |
|
(c) Trade receivables |
15.463 |
10.294 |
9.255 |
|
(d) Cash and cash equivalents |
6.765 |
2.345 |
5.774 |
|
(e) Short-term loans and
advances |
2.026 |
1.735 |
0.893 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
88.355 |
74.744 |
61.692 |
|
|
|
|
|
|
TOTAL |
93.986 |
81.019 |
66.508 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TURNOVER |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.235 |
2.614 |
2.398 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.409 |
0.793 |
0.981 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.826 |
1.821 |
1.417 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
12.242 |
3.457 |
0.000 |
|
|
TOTAL EARNINGS |
12.242 |
3.457 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
56.52 |
36.42 |
28.34 |
|
Expected Sales (2014-15) : Rs.300.000 Million
The above information has been parted by Mr. Kalpesh Manharlal Modi
(Director)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
1.25 |
1.13 |
0.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.54 |
3.24 |
3.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.14 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.03 |
1.39 |
1.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29 |
1.27 |
1.30 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
16.798 |
18.619 |
21.445 |
|
Net
worth |
17.298 |
19.119 |
21.945 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
29.323 |
26.642 |
44.474 |
|
Total
borrowings |
29.323 |
26.642 |
44.474 |
|
Debt/Equity
ratio |
1.695 |
1.393 |
2.027 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
155.556 |
161.378 |
225.246 |
|
|
|
3.743 |
39.577 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
155.556 |
161.378 |
225.246 |
|
Profit |
1.417 |
1.821 |
2.826 |
|
|
0.91% |
1.13% |
1.25% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
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 |
NOTE:
The registered address of the company has been shifted from A/118,
Sythhofine estate Off.Arrey Road, Goregaon East, Mumbai – 400063, Maharashtra,
India to the present address w.e.f 28.08.2008
OPERATIONS:
During the year, Turnover of the company has
been increased to INR Rs.225.246 Million as compared to INR Rs.161.378 Million
in previous year. Profit of the company has been increased to INR RS. 2.825
Million as compared to INR Rs. 1.820 Million in previous year. During the year
Exchange rate losses INR Rs. 4.503 Million as compared to INR Rs. 1.542 Million
in the previous year. Further the company had taken various steps to improve
activities of the company. In view of various strategic steps, the company has
continued with the trading activities. The management of the company is
confident of a gradual and consistent increase in turnover for the company in
the year ahead.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Loans from Director and related parties |
27.017 |
20.259 |
|
Total |
27.017 |
20.259 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
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 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.62.49 |
|
|
1 |
Rs.92.26 |
|
Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
|
--PROFITABILITY |
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 |
|
-- |
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.