MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
AMBEY LABORATORIES PRIVATE LIMITED |
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Registered Office : |
G -2, Vikas Apartments, 34/1, East Punjabi Bagh, New Delhi – 110026 |
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Country : |
INDIA |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.03.1985 |
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Registration No. : |
55-20490 |
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CIN No.: [Company
Identification No.] |
U74899DL1985PTC020490 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA14082F |
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PAN No.: [Permanent
Account No.] |
AAACA4317R |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of 2, 4 D Sodium Salt, Amine Salt, Acid, Esters, MCPA. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
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Maximum Credit Limit : |
USD 50000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track
records. Company’s Profitability is under severe pressure. It has some
accumulated losses. Payments are reported as slow but correct. The company
can be considered normal for small business dealings at usual trade terms and
conditions, with slight caution initially.
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LOCATIONS
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Registered Office : |
G -2, Vikas Apartments, 34/1, East Punjabi Bagh, New Delhi – 110026,
India |
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Tel. No.: |
91-11-23316321 / 28316167 |
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Mobile No.: |
91-9899664458 / 98108225871 / 9811008008 |
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Fax No.: |
91-11-28316041 |
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E-Mail : |
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Website : |
http://www.ambeylab.com |
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Factory 1 : |
SP, 1-5, Sotanala RIICO Industrial Area, Behror, District Alwar,
Rajasthan |
DIRECTORS
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Name : |
Mr. Archit Gupta |
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Designation : |
Director |
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Address : |
1/13, East Punjab Bagh, New Delhi – 110026, Delhi |
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Date of Birth/Age : |
17.11.1981 |
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Date of Appointment : |
09.07.2004 |
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Name : |
Mr. Anil Kumar Gupta |
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Designation : |
Director (Chairman & MD) |
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Address : |
1/13, East Punjab Bagh, New Delhi – 110026, Delhi |
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Date of Birth/Age : |
19.10.1955 |
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Date of Appointment : |
20.03.1985 |
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Name : |
Mr. Rakshit Sehgal |
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Designation : |
Director |
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Address : |
B – 4/3, Paschim Vihar, New Delhi – 110063, Delhi |
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Date of Birth/Age : |
28.02.1984 |
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Date of Appointment : |
18312.2005 |
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Name : |
Mr. Kewal Sehgal |
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Designation : |
Director (Chairman & MD) |
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Address : |
B – 4/3, Paschim Vihar, New Delhi – 110063, Delhi |
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Date of Birth/Age : |
01.10.1955 |
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Date of Appointment : |
20.03.1985 |
KEY EXECUTIVES
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Name : |
Mr. Vineet Jain |
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Designation : |
Company Secretary |
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Address : |
G – 36, 2nd Floor, Vijay Nagar, Single Storey, Delhi -
110009 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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1. Mr. Kewal Sehgal |
16700 |
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2. Mr.Anil Gupta |
23295 |
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3. Mr. Kewal Sehgal (HUF) |
1750 |
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4. Mr. Sarbati Devi Gupta |
200 |
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5. Miss Achla Gupta |
100 |
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6. Mr. Badri Nath Sehgal |
220 |
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7. Miss .Rashmi Sehgal |
100 |
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8. Mr. Archit Gupta |
11105 |
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9. Miss NItu Gupta |
100 |
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10. Mr. Mohan Lal Gupta |
650 |
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11. Mr. Rakshit Sehgal |
9500 |
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12. Mr. Yajesh Garg |
11000 |
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13. Yajesh kumar Garg (HUF) |
7500 |
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14. Sons (HUF) |
11000 |
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15. Mr. Anil kumar Aggarwal |
13000 |
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16. Mrs. Sandhya Aggarwal |
1000 |
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17. Mrs. Chander Mani |
5000 |
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18. Mrs. Leelawati |
2000 |
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19. S. M. Paper Mills Private Limited |
7000 |
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20. Sanganeria Investments |
7000 |
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21. Thar Manufacturers and Exporters Private Limited |
2000 |
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22. Goyal Granites Private Limited |
1000 |
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Total |
140220 |
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Category |
Percentage |
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Bodies Corporate |
11.33 % |
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Directors or Relatives of Directors |
47.00 % |
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Other Top Fifty (50) Shareholders |
41.67 % |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of 2, 4 D Sodium Salt, Amine Salt, Acid, Esters, MCPA. |
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Products : |
Herbicides Weedicides Natural Organic Fungicides Natural Organic Insecticides |
GENERAL
INFORMATION
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No. of Employees : |
About 100- 500 |
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Bankers : |
Canara Bank , Vikas Puri, New Delhi – 110018 Account No.: 2455261010270 Industries Development Bank of India (IDBI) Videocon Tower, Ground Floor, E-1, Rani Jhansi Road, Jhandewalan
Extension, New Delhi – 110055, Delhi Small Industries Development Bank of India E- 1, Rani Jhansi Road, Jhandewalan Extension, New Delhi – 110055,
India Punjab National Bank Indian Overseas Bank |
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Banking Relations : |
Satisfactory |
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Auditors : |
Parnami & Associates,
Delhi Chartered Accountant M. Sippy And Associates Chartered Accountant [Contact
Person : Mr. Narender Gupta] |
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Address : |
301, 3rd Floor, Sai Chamber, DB Gupta Road, Karol Bagh, New
Delhi – 11005, Delhi |
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Tel. No. : |
91-11-45456772 |
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Mobile : |
91-9810263388 |
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Associates : |
S.M. Paper Mills Private Limited Goyal Granites Private Limited Thar Manufacturers and Exporters Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Share |
Rs.100/- Each |
Rs. 15.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Share |
Rs.100/- Each |
Rs. 15.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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15.000 |
6.897 |
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2] Share Premium |
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0.200 |
0.000 |
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3] Share Application Money |
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0.000 |
0.000 |
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4] Reserves & Surplus |
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0.000 |
0.000 |
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5] (Accumulated Losses) |
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[0.201] |
(0.307) |
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NETWORTH |
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14.999 |
6.590 |
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LOAN FUNDS |
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1] Secured Loans |
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29.724 |
1.062 |
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2] Unsecured Loans |
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2.339 |
1.441 |
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TOTAL BORROWING |
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32.063 |
2.503 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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47.062 |
9.093 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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43.089 |
6.577 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.820 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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5.443 |
1.985 |
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Other Current Assets |
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1.121 |
0.628 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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11.384 |
2.613 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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8.414 |
0.364 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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8.414 |
0.364 |
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Net Current Assets |
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2.970 |
2.249 |
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MISCELLANEOUS EXPENSES |
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1.003 |
0.267 |
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TOTAL |
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47.062 |
9.093 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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0.382 |
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Other Income |
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0.200 |
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Total Income |
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0.582 |
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Profit/(Loss) Before Tax |
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0.151 |
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Provision for Taxation |
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0.022 |
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Profit/(Loss) After Tax |
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0.129 |
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Total Expenditure |
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4.863 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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22.16 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
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25.94 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.27 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.01 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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2.69 |
0.43 |
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Current Ratio (Current Asset/Current Liability) |
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1.35 |
7.17 |
LOCAL AGENCY FURTHER
INFORMATION
Form No. 8
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Name of the company |
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Presented By |
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1) Date and description of instrument creating the change |
On 28.09.2005. deed of Hypothecation
executed by the Company in favor of Small Industries Development Bank of India
[ herein after referred to as SIBDI”] by way of first charge in respect of
moveable properties of the company described in the schedule A-1 annexed,
certified copy of the said certificate is enclosed. On 30.09.2005, No
instrument was executed Mortgage by deposit of title deeds with Small
Industries Development Bank of India (SIBDI) was created by the company in
favor of SIDBI by way of first charge in respect of the immovable properties
of the company described in the schedule the due repayment and discharge by
the Company to SIDBI of its TERM Loan of Rs.24.000 Millions together with
interest, further interest, liquated damages, costs, charges, expenses and
all other monies payable under the loan Agreement (s) / Letter(s) of intent /
terms of sanction as amended from time to time. A certified copy of the said certificate is enclosed. |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Term loan of Rs. 24.000 Millions under direct Credit Scheme [DCS]
sanctioned to the Company together with interest, further interest,
liquidated damages, costs, charges, expenses and all other monies payable by
the Company to SIDBI in terms of letter of intent dated 18.08.2005 and loan
agreement dated 28.09.2005 [ hereinafter referred to as “Loan Agreement”]
between the Company of the one Part and SIDBI of the other part. |
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3) Short particular of the property charged. If the property acquired
is subject to charge, date of the acquired of the property should be given |
Whole moveable, (save and expect book debts) including the movable,
plant, machinery, machinery computers, furniture’s and fixtures, both present
and future subject to prior charges created and /or to be created in favour
of the Borrowers Bankers on the Borrowers stocks of consumable stores and
book debts and such other moveable as may be agreed to by SIDBI for securing
the Borrowing for working capital requirements in the ordinary course of
business, short particulars of whereof are given in the Schedule A ii) the company moveable properties including land and other immovable
properties together with all building and Structures thereon and all plant
and machinery attached to each situated at shed No-23, cat-II, SFS, DSSSIDC
Complex, Rohtak Road, New Delhi – 110041 details are given in Schedule B-II Whether installed or not and whether now lying loose or in cases or
which are now lying or stored in or about
or shall hereinafter from time to time during the continuance of the
security be brought into or upon or be stored or be in or about the Company’s
premises, factory, showrooms and godowns or where else the same me be or be held by any party to the order or
disposition of the company or in the course of transit or on high seas or on
order, or delivery, howsoever and whosesoever in the possession of the
company and either by way of substitution or addition. |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
The charges operate as first charge, to
secure the due repayment and discharged by the Company to SIDBI of its Term
loan of Rs. 24.000 millions under direct credit Scheme [ DCS] together with
interest, further interest, liquidated damages, expenses and all other monies
payable by the Company under the letters of sanction / letter of intent /
modifications/ terms of sanction as amended / modified / renewed from time to
time. the company has undertaken to keep the hypothecated goods and mortgaged
properties in marketable and goods condition at its own costs and to insure
the same in the joint names of the
Company and SIDBI. All the goods hypothecated and properties mortgaged and all
realizations and insurance proceeds thereof and all documents in respect of
the said security are to be kept distinguishable and held as the exclusive
Property of SIDBI. The Security created under the said Deed of Hypothecation to be
continuing security. |
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5) Name and Address and description of the person entitled to the
charge. |
Small Industries Development Bank of India Head Office : SIDBI Tower, 15 Ashok Marg,
Lucknow. |
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6) Date and brief description
of instrument modifying the charge |
N. A. |
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7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
N. A. |
Company Profile
Ambey Laboratories (A.L.P.L) is a part of the renowned The
Ambey Group Of Industries that was established in the year 1977. The
Company began their business operations, manufacturing the disinfectant phenyl
under the brand name of “Trishul”. Success of this product spurred they
on to develop and expand manufacturing capabilities to include an
all-encompassing range of pesticides, herbicides, weedicides, insecticides
& fungicides.
A.L.P.L.India provides effective crop protection products with the exclusive
range of herbicides, weedicides, insecticides and fungicides. Their range of
2-4-D Herbicides with the lowest unit-acreage rates, are among the most
economical of crop protection solutions available anywhere in the world. They
have been widely used to effectively combat weed growth worldwide.
Over the three decades of it’s existence, the company has
consistently expanded its business by strategically investing in advanced
manufacturing facilities & marketing networks. Today The Company have 5
Sale Office located in various parts of India with a state-of-the automated
manufacturing plant strategically located at Behror, off the NH-8 Highway.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.13 |
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UK Pound |
1 |
Rs.85.36 |
|
Euro |
1 |
Rs.57.64 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
26 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|