|
|
|
MIRA INFORM REPORT
|
Report No. : |
487371 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KALS DISTILLERIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
23/5, Thanikachalam Road, T. Nagar, Chennai-600017, Tamilnadu |
|
Tel. No.: |
91-44-24345254/ 64/ 74 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.11.2007 |
|
|
|
|
Com. Reg. No.: |
18-065347 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 242.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15511TN2007PTC065347 |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm does
not have export and import) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEK09406F |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK3803F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacture of Alcoholic Beverages. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 3000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2007 and it is having good track.
For the financial year 2017, the company has increased its revenue from
operation as compared to previous year and maintained average profitability
margin of 3.79%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and low debt balance sheet. Further, rating also reflects from its established track records
business operation and improvement in the revenue as well as profitability
profile during the year. However, rating strength is partially offset by geographical
concentration and regulatory risks. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular. In view of the aforesaid, 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low
Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High
Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Term Loan = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
15.02.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 23.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-44-24345254
LOCATIONS
|
Registered Office : |
23/5, Thanikachalam Road, T. Nagar, Chennai-600017, Tamilnadu, India |
|
Tel. No.: |
91-44-24345254/ 64/ 74 |
|
Mobile No.: |
91-9840543966 (Mr. Mani Kandan) |
|
Fax No.: |
91-44-43506474 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Kallakottai Village, Gandarvakottai Taluk, Pudukottai District-622302,
Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Varadharajan Arulmanisekaran |
||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||
|
Address : |
16, Annavasal Theru, Neduncadu - 609603 Py In |
||||||||||||||||||||
|
Date of Birth/Age : |
01.08.1979 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
01.04.2010 |
||||||||||||||||||||
|
PAN No.: |
ADWPA7613C |
||||||||||||||||||||
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DIN No.: |
01867429 |
||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||
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|
|
||||||||||||||||||||
|
Name : |
Mr. Sivaprakasam Vasudevan |
||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||
|
Address : |
16-C Main Road, Nedungadu - 609603 Py In |
||||||||||||||||||||
|
Date of Birth/Age : |
21.08.1965 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
01.04.2008 |
||||||||||||||||||||
|
PAN No.: |
ABRPV2648H |
||||||||||||||||||||
|
DIN No.: |
01867453 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Sivaprakasam Rajasekaran |
||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||
|
Address : |
16, Annavasal Road, Nedungadu Karaikal - 609603 Py In |
||||||||||||||||||||
|
Date of Birth/Age : |
08.08.1967 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
01.04.2010 |
||||||||||||||||||||
|
PAN No.: |
AAZPR6191A |
||||||||||||||||||||
|
DIN No.: |
02222213 |
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Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Sivaprakasam Nadessan |
||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||
|
Address : |
23/5, Thanikachalam Road, T. Nagar, Chennai - 600017, Tamilnadu, India |
||||||||||||||||||||
|
Date of Birth/Age : |
12.04.1971 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
01.04.2010 |
||||||||||||||||||||
|
PAN No.: |
ABQPN7170H |
||||||||||||||||||||
|
DIN No.: |
02512949 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Natesannadar Palanisamy |
||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||
|
Address : |
16, Annavasal Road, Nedungadu Karaikal - 609603 Py In |
||||||||||||||||||||
|
Date of Birth/Age : |
19.08.1960 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
01.04.2010 |
||||||||||||||||||||
|
PAN No.: |
AFRPP6152C |
||||||||||||||||||||
|
DIN No.: |
02528203 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Kaliyaperumal Kumarasami |
||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||
|
Address : |
New No.17 Old No.9, G.A. Tass Villa Apartments, Halls Road, Egmore,
Chennai - 600008, Tamilnadu, India |
||||||||||||||||||||
|
Date of Birth/Age : |
05.05.1958 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
01.04.2010 |
||||||||||||||||||||
|
PAN No.: |
AOLPK8052P |
||||||||||||||||||||
|
DIN No.: |
03553208 |
||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Sivaprakasam Vasudevan |
12610000 |
52.00 |
|
Sivaprakasam Rajasekaran |
1940000 |
8.00 |
|
Kaliya Perumal Kumarasami |
970000 |
4.00 |
|
Sivaprakasam Nadessan |
1940000 |
8.00 |
|
Natesannadar Palanisamy |
1940000 |
8.00 |
|
Varadharajan Arulmanisekaran |
1940000 |
8.00 |
|
M. Vidivelli |
1940000 |
8.00 |
|
Uma Sankeri |
970000 |
4.00 |
|
Total |
24250000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture of Alcoholic Beverages. (Registered activity) |
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Products : |
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|
|
||||||
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Brand Names : |
Not Divulged |
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|
||||||
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Agencies Held : |
Not Divulged |
||||||
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|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
||||||||||||||||||||||||
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|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
ASV N Ramana Tower 5 2 , Venkatnarayana Road, T.Nagar, Chennai – 600017, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
U74900TN2010PTC075863
U15510PY2012PTC002720
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24250000 |
Equity Shares |
INR 10/- each |
INR 242.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
242.500 |
48.500 |
48.500 |
|
(b) Reserves and Surplus |
802.575 |
951.768 |
775.871 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1045.075 |
1000.268 |
824.371 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
46.271 |
89.804 |
106.987 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
2.019 |
7.886 |
|
(c) Other long-term
liabilities |
0.000 |
150.000 |
150.000 |
|
(d) long-term
provisions |
22.943 |
19.676 |
5.059 |
|
Total Non-current
Liabilities (3) |
69.214 |
261.499 |
269.932 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
71.284 |
463.033 |
488.280 |
|
(b) Trade
payables |
179.426 |
257.744 |
337.489 |
|
(c) Other
current liabilities |
909.249 |
785.106 |
923.389 |
|
(d) Short-term
provisions |
11.775 |
30.564 |
14.164 |
|
Total Current
Liabilities (4) |
1171.734 |
1536.447 |
1763.322 |
|
|
|
|
|
|
TOTAL |
2286.023 |
2798.214 |
2857.625 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
323.379 |
366.023 |
353.869 |
|
(ii)
Intangible Assets |
0.018 |
0.934 |
0.794 |
|
(iii) Tangible assets
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 |
441.938 |
441.938 |
441.938 |
|
(c) Deferred tax assets (net) |
11.737 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
16.316 |
270.572 |
295.258 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
793.388 |
1079.467 |
1091.859 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
470.789 |
414.520 |
269.187 |
|
(c) Trade
receivables |
657.809 |
560.387 |
531.678 |
|
(d) Cash and
bank balances |
6.351 |
3.650 |
4.771 |
|
(e)
Short-term loans and advances |
332.686 |
740.190 |
947.978 |
|
(f) Other
current assets |
25.000 |
0.000 |
12.152 |
|
Total
Current Assets |
1492.635 |
1718.747 |
1765.766 |
|
|
|
|
|
|
TOTAL |
2286.023 |
2798.214 |
2857.625 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
5026.250 |
4561.796 |
4834.621 |
|
|
Other Income |
0.445 |
3.307 |
9.619 |
|
|
TOTAL |
5026.695 |
4565.103 |
4844.240 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4096.037 |
3538.429 |
3628.557 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(38.376) |
(32.443) |
(18.744) |
|
|
Employee benefit expense |
147.318 |
145.239 |
78.762 |
|
|
CSR expenditure |
8.203 |
13.482 |
0.000 |
|
|
Other expenses |
417.309 |
444.301 |
714.056 |
|
|
TOTAL |
4630.491 |
4109.008 |
4402.631 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
396.204 |
456.095 |
441.609 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
47.166 |
97.781 |
117.605 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
349.038 |
358.314 |
324.004 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
53.775 |
64.073 |
68.452 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
295.263 |
294.241 |
255.552 |
|
|
|
|
|
|
|
Less |
TAX |
104.522 |
118.344 |
91.834 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
190.741 |
175.897 |
163.718 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials - Grape Spirit |
16.120 |
5.612 |
NA |
|
|
TOTAL IMPORTS |
16.120 |
5.612 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
7.87 |
36.27 |
33.76 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
47.009 |
45.744 |
85.789 |
|
Net cash flows from (used in) operations |
520.051 |
360.424 |
266.829 |
|
Net cash flows from (used in) operating activities |
382.229 |
244.707 |
266.829 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
47.77 |
44.84 |
40.14 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.64 |
8.14 |
9.09 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
15.99 |
26.59 |
33.95 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.84 |
1.10 |
1.64 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.23 |
1.24 |
1.25 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.55 |
0.60 |
0.68 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.16 |
0.60 |
0.83 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.12 |
1.54 |
2.14 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.31 |
0.37 |
0.43 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
8.40 |
4.66 |
3.76 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
3.79 |
3.86 |
3.39 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.34 |
6.29 |
5.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
18.25 |
17.58 |
19.86 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.27 |
1.12 |
1.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.87 |
0.85 |
0.85 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.46 |
0.36 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.68 |
12.34 |
14.04 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.27 |
1.12 |
1.00 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
48.500 |
48.500 |
242.500 |
|
Reserves & Surplus |
775.871 |
951.768 |
802.575 |
|
Net
worth |
824.371 |
1000.268 |
1045.075 |
|
|
|
|
|
|
Long Term borrowings |
106.987 |
89.804 |
46.271 |
|
Short Term borrowings |
488.280 |
463.033 |
71.284 |
|
Current Maturities of Long term debt |
85.789 |
45.744 |
47.009 |
|
Total
borrowings |
681.056 |
598.581 |
164.564 |
|
Debt/Equity
ratio |
0.826 |
0.598 |
0.157 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
4834.621 |
4561.796 |
5026.250 |
|
|
|
(5.643) |
10.181 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
4834.621 |
4561.796 |
5026.250 |
|
Profit |
163.718 |
175.897 |
190.741 |
|
|
3.39
% |
3.86
% |
3.79
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
Subject (KDPL or the Company) was established in the year 2007 and is engaged in the manufacture of alcoholic beverages under license from the Government of Tamil Nadu, having its factory located at Pudukottai district in Tamil Nadu.
STATE OF COMPANY'S AFFAIRS
AND FUTURE OUTLOOK
During the year the revenue from operations has increased from INR 4561.796 Million to INR 5026.250 Million. The net profit has increased from INR 175.897 Million to INR 190.741 Million and the directors are confident in the future business of the company.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G05819313 |
100033482 |
Axis Bank Limited |
28/05/2016 |
- |
- |
2560000.0 |
"Trishul', 3rd Floor, Opp to Samartheshwar TempleLaw Garden, Ellis BridgeAhmedabadGJ380006IN |
|
2 |
G02314938 |
100023527 |
State Bank of India |
16/02/2016 |
- |
- |
8000000.0 |
SME BranchEkkaduthangalChennaiTN600032IN |
|
3 |
A76743210 |
10194416 |
State Bank of India |
28/12/2009 |
- |
- |
2000000.0 |
Chennai Main Branch84 Rajaji SalaiChennaiTN600001IN |
|
4 |
A76758374 |
10194563 |
State Bank of India |
28/12/2009 |
- |
- |
9400000.0 |
Chennai Main Branch84 Rajaji SalaiChennaiTN600001IN |
|
5 |
A76743681 |
10194419 |
State Bank of India |
28/12/2009 |
- |
- |
5000000.0 |
Chennai Main Branch84 Rajaji SalaiChennaiTN600001IN |
|
6 |
A76742881 |
10194413 |
State Bank of India |
22/12/2009 |
- |
- |
1500000.0 |
Chennai Main Branch84 Rajaji SalaiChennaiTN600001IN |
|
7 |
A76757921 |
10194521 |
State Bank of India |
02/12/2009 |
- |
- |
3900000.0 |
Chennai Main Branch84 Rajaji SalaiChennaiTN600001IN |
|
8 |
G61325171 |
10121180 |
State Bank of India |
14/08/2008 |
09/11/2017 |
- |
866000000.0 |
Commercial BranchNo.232 NSC Bose RoadChennai |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
Intangible assets
- Brands and trade marks
- Trade marks
- Computer software
PRESS RELEASE
LIQUOR DEAL: FOR RS
400 CRORE, KALS EYES IMPERIAL
Jul 27, 2017
CHENNAI: In a move aimed at consolidating its position in the country's largest liquor market, Kals Distilleries has initiated talks to acquire Lighthouse Funds-backed Imperial Distilleries for nearly INR 4000.000 Million. Liquor trade in Tamil Nadu is fully controlled by state-owned Tamil Nadu State Marketing Corporation (Tasmac), which raked in nearly INR 270000.000 Million in sales last year. The state, which accounts for nearly a fifth of national liquor sales, has been a closed market for distillers from outside the state, with an influential local cartel enjoying monopoly for decades. We are in talks, but nothing has been finalized," a senior Kals official told TOI while Imperial sources said nothing was firm yet.
"There was speculation in 2014 that we will sell out. We didn't. Even now there is nothing concrete on the table. We will not comment," they said.
Pudukottai-based Kals sells nearly six lakh cases a month to Tasmac, and owns regional brands like Magnus Choice, Black Pearl and La Martin, none of which is available for sale outside TN. Its strength is in mass market consumption.
On the other hand, Imperial which counts Thilaknagar, Johns and Kyndal as its clients, bottles limited quantity. It is learned that Lighthouse Funds, the PE investor in Imperial, is pressing for a transaction that could pave way for its exit. Imperial has its distillery in Coimbatore and its promoters are related to Sakti Sugars group.
It is not known if Imperial's Nethravathi Distilleries is
also part of the transaction. Nethravathi owns a distillery in Tumkur,
Karnataka. Imperial also has a unit in Goa and its Palakkad unit does contract
bottling for United Spirits.
The acquisition, if it comes through, could propel Kals into the top slot in
the liquor hierarchy with a capacity to bottle more than 1.2 million cases a
month in the state. The other big players in the state, V K Sasikala
family-controlled Golden Midas and Balaji Distilleries, have a capacity of
nearly a million cases each.
The close nexus between local liquor satraps and politicians has been a thorn in the flesh for global liquor giants. For example, Diageo-controlled United Spirits stopped directly dealing with Tasmac, fearing potential violation of anti-graft laws. Global liquor giant Pernord Ricard, owner of Seagram's, does not have a Tamil Nadu presence for similar reasons.
"It is a tough market to do business but too big to ignore. Price increases do not happen often and unless you have local muscle power, business can get messy," industry officials said.
While liquor trade in India has been under severe strain with a court ban on liquor vending on state and national highways, the April 15 Supreme Court order dealt a death blow for several liquor markets. Tamil Nadu, however, does not seem to have been affected.
In June, Tasmac placed orders for 46 lakh cases of IMFL and 24 lakh cases of beer; and 47 lakh cases of IMFL and 24 lakh cases of beer in April.
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
|
INR |
|
US Dollar |
1 |
INR 63.88 |
|
|
1 |
INR 88.59 |
|
Euro |
1 |
INR 78.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.