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MIRA INFORM REPORT
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Report No. : |
493447 |
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Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
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Name : |
KAILASH METACHEM PVT LTD |
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Registered Office : |
Lot B-1, Seethawaka Export Processing Zone, Avissawella |
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Country : |
Sri Lanka |
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Date of Incorporation : |
22.08.2001 |
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Com. Reg. No.: |
PV 5292 |
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Legal Form : |
Private, Limited Liability Company |
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Line of Business : |
Manufacturing and Exporting Basic Chemical |
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No. of Employees : |
200 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Sri Lanka |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SRI LANKA - ECONOMIC OVERVIEW
Sri Lanka is attempting to sustain economic growth while maintaining macroeconomic stability under its IMF program that it began in 2016. The government's high debt payments and bloated civil service cadre, which have contributed to historically high budget deficits and low tax revenues, remain a concern. Government debt is about 75% of GDP and remains among the highest of the emerging markets. Sri Lanka will need to balance its elevated debt repayment schedule with its requirement to maintain adequate foreign exchange reserve levels in the coming years.
In May 2016, Sri Lanka regained its preferential trade preferences under the European Union’s Generalized System of Preferences Plus (GSP+), enabling many of its firms to export products, including it top export garments, tax free to the EU. Also in 2016, the government reformed elements of the country’s tax regime to increase some tax rates and broaden the tax net in response to recommendations made under its IMF program.
Tourism has experienced strong growth during recent years following the resolution of the government's 26-year conflict with the Liberation Tigers of Tamil Eelam. The government has been pursuing large-scale reconstruction and development projects in its efforts to spur growth.
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Source
: CIA |
Company
Profile
Basic Information
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a. |
Name of Subject of Inquiry |
KAILASH METACHEM PVT LTD |
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b. |
Legal Form & Status |
Private, Limited Liability Company (In Operation) |
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c. |
Chairman |
Mr Muni Jitesh Mukundrai |
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d. |
Primary Line of Business |
Basic Chemical Manufacturing and Exporting |
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Lot B-1, Seethawaka Export Processing Zone, Avissawella Sri Lanka |
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Phone : (00 94) 36-4270155/6 , 36-2232801, 36-2232537 |
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e. |
Principal Place of Business |
Fax : (00 94 36) 2232537 |
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E-Mail: kailashmet@gmail.com ; kailashmet@hotmail.com. Lal Leelaratne |
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(Administration Manager). 77-7272203 Web Site: http://www.kedargroup.in/ |
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f. |
Employees |
200 |
Company
Details
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a. |
Registration
No |
N(PVS)29082 |
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Date
of Registration |
22nd
August 2001 |
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b. |
Re-registration
No |
PV
5292 |
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Date
of Re-registration |
10th
July 2008 |
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c. |
Registered
Office |
Lot
B-1, Seethawaka Export Processing Zone, Avissawella, Sri Lanka. |
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Area : |
Owned
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Location : |
Industrial
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d. |
Director Board / Ownership As At 14th
October 2017 |
Muni
Jitesh Mukundrai |
Chairman |
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Patel
Gautam Biharial |
Director |
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Muni
Sachin Dilip |
Director |
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e. |
Stated
Share Capital |
LKR
21,565,200.00 |
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f. |
No.
of Shares |
2,156,520 |
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g. |
Preferential
Shares |
NA |
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h. |
Nominal
Value of Share |
LKR
10.00 |
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i. |
Auditors |
B
R De Silva & Company Chartered Accountants #
22/4, Wijayakumaratunga Mawatha, Colombo 05, Sri Lanka. |
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j. |
Company
Secretaries |
Nexia
Corporate Consultants (Pvt) Ltd # 51/1A, Fife Road, Colombo 05, Sri Lanka. |
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k. |
Main
Bank/s |
NA |
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Terms : |
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Purchasing : |
Credit (30 days) |
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Selling : |
Credit (30 days) |
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Shareholders
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NO. |
NAME |
NUMBER OF SHARES |
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1. |
Kedar
Metal (Pvt) Ltd- India |
1,077,519 |
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2. |
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Muni
Jitesh Mukundrai-India |
538,501 |
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3. |
Dr.
Muni Heresh - USA |
1,000 |
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4. |
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Patel
Gautam Biharial-India |
1,000 |
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5. |
Muni
Sachin Dilip-India |
538,500 |
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FINANCIAL
DETAILS
- Most recent available Financial Information
NA
CURRENT
INVESTIGATION
Company Logo
Company Logo
•
History.
The subject company
was initially formed on 22nd
August 2001 under N(PVS) 29082 under
the Companies Act of Sri Lanka. The subject company was subsequently Re-registered
on 10th July 2008 under
PV 5292 under the Companies
Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.
• Operational Details.
General
Kedar Group is one of
the leading manufacturers & exporters of Lead Oxides, Single Lead Stabilizers
& Minerals for ceramic industry. Established in 1993, Kedar Group has
constantly strived to achieve highest quality & most efficient deliveries
to add value to our customers business.
Kedar Group is run by
dedicated team of experts & professionals who have been with the company
since the 2 decades, the team has nurtured and grown the company from a humble
beginning to being one of the largest. M/s Kailash Metachem, Sri Lanka was
granted "The Presidents Export Excellency award for the highest exporter
of Sri Lanka the chemicals & plastics industry for the year 2011-2012 &
2012-2013.
Products
& Services
Inorganics
Chemicals
Employees
200
Export
Countries
India, Europe, USA
Import
Countries
India
Associate
/ Subsidiary Companies
Kedar Group of Industries
Factory / Warehouse
and Sales Outlets / International Head Office
Kedar
Group of Industries.
502,
Akruti Arcade, J.P. Road, Near Andheri Sports Complex, Andheri (west), Mumbai
400058,
Maharashtra, India.
Tel
-+912266845555
Fax
-+912266845512
Email - office@kedarmetals.com
Personal
Details of Key Persons
Director 1
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ITEM |
DETAIL |
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Name |
Muni Jitesh Mukundrai |
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ID Number |
F 9137026 |
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Nationality |
Indian |
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Gender |
Male |
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Date of Birth |
NA |
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Age |
NA |
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Address |
# 502,Akruti Arcade J P Road, Near Andheri Sports Complex Andheri Mumbai |
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Director 2 |
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ITEM |
DETAIL |
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Name |
Patel Gautam Biharial |
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ID Number |
Z1837386 |
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Nationality |
Indian |
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Gender |
MALE |
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Date of Birth |
NA |
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Age |
NA |
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Address |
Meadowa 1, Emirates Hills street no 5,Villa No 10, Dubai UAE |
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Director 3 |
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ITEM |
DETAIL |
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Name |
Muni Sachin Dilip |
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ID Number |
Z 2600535 |
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Nationality |
India |
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Gender |
Male |
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Date
of Birth |
NA |
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Age |
NA |
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Address |
Classique New Link Road, Infinity Mall
Oshwara Andheri Mumbai |
INFORMATION
PARTED BY (GENERAL DETAILS)
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Name : |
Mr. Lal Leelaratne |
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Designation : |
Administration Manager |
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Contact No.: |
0094 -36-2232801 |
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Date : |
28.02.2018 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.10 |
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1 |
INR 94.44 |
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Euro |
1 |
INR 79.59 |
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LKR |
1 |
INR 0.42 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Information
Gathered by : |
PNM |
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Analysis Done by
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VAR |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.