MIRA
INFORM REPORT
|
Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
ANAND PETROCHEM PRIVATE LIMITED |
|
|
|
|
Registered Office : |
16, Nirav Complex, 1st Floor, Near |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
27.07.2001 |
|
|
|
|
Com. Reg. No.: |
039826 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U23209GJ2001PTC039826 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA02939G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Traders of chemicals and petrochemicals. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 5900 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small company in its field. We spoke to Mr. Manjeet
Kapadia, who declined to part with any information without knowing the name
of the original inquirer. They do not have any import or export activities,
as claimed. No further details or payment could be made available. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
16, Nirav Complex, 1st Floor, Near |
|
Telefax No.: |
91-79-27682412/27680926 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch: |
Shed No. a/2, 2-5513, Road No. 3 (South), Near Little Hut Restaurant,
GIDC Estate, Ankleshwar |
|
Tel. No.: |
91-2646-252521/251591 |
|
Fax No.: |
91-2646-250176 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Hiten Dahyabhai Anandpura |
|
Designation : |
Director |
|
Address: |
303/A/4, Shivaranjani Society, Opposite Excise Colony, GIDC Estate,
Ankleshwar – 393 002, |
|
Mobile No.: |
98250 28808 |
|
Date of Birth/Age : |
31.01.1961 |
|
Date of Appointment : |
27.07.2001 |
|
|
|
|
Name : |
Mr. Manoj Dahyabhai Anandpura |
|
Designation : |
Director |
|
Mobile No.: |
98250 68690 |
|
Date of Appointment : |
27.07.2001 |
|
|
|
|
Name : |
Mrs. Sushila Sumant Parikh |
|
Designation : |
Director |
|
Date of Appointment : |
01.01.2004 |
|
|
|
|
Name : |
Mrs. Sushilaben Parikh |
|
Designation : |
Director |
|
Address : |
A/19, Tulip Bungalows – 1, |
|
Date of Birth/Age : |
28.02.1944 |
|
Date of Appointment : |
01.01.2004 |
|
|
|
|
Name : |
Mr. Manjeet Kapadia |
|
Designation : |
Non-Executive Director |
|
Address : |
4, Rajal flats, Opposite University Hostel, Navrangpura, Ahmedabad –
380 009, |
|
E-Mail: |
|
|
Date of Birth/Age : |
15.01.1971 |
|
Date of Appointment : |
27.07.2001 |
KEY EXECUTIVES
|
Name : |
Parikh Dave and Associates |
|
Designation : |
Company Secretary |
|
Address: |
109, Sarita Complex, Near Sanwar Complex, Behind Jain Derasar, Vallabha
Dinning Hall lane, Off. |
|
Tel. No.: |
91-79-26405454, 30025454 |
|
E-Mail: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Manjeet Kapadia |
|
10000 |
|
Mr. Hiten Anandpura |
|
10001 |
|
Mr. Manoj Anandpura |
|
9999 |
|
Mr. Sachin Parikh |
|
10667 |
|
Mrs. Sushila Parikh |
|
10667 |
|
Mr. Manjeet Kapadia HUF |
|
5000 |
|
Mr. Prabhulal Kapadia - HUF |
|
5000 |
|
Mr. Prabhulal Kapadia |
|
5000 |
|
Mrs. Rinku Kapadia |
|
5000 |
|
Ms. Saumya Kapadia – Minor |
|
2500 |
|
Ms. Maurya Kapadia – Minor |
|
2500 |
|
Mrs. Usha Kapadia |
|
5000 |
|
Mr. Sumant H Parikh HUF |
|
9666 |
|
Mrs. Rajeshree Parikh |
|
9000 |
|
Mrs. Dollar Anandpura |
|
10000 |
|
Mrs. Kalpana Anandpura |
|
10000 |
|
Total |
|
120000 |
|
Category |
|
Percentage
of Holding |
|
Directors or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders of chemicals and petrochemicals. |
GENERAL INFORMATION
|
Suppliers: |
v
KRIBHCO v
v
Dharti Cehm Carriers v
Dhiren Shah and company v
Patel Mankad and Company |
|
|
|
|
Customers: |
v
Ashimal Dyecoat Private Limited v
Diamond Dyechem Limited v
Heubach Colours Private limited |
|
|
|
|
No. of Employees : |
|
|
|
|
|
Bankers : |
v
Bank of v
Bank of v
Axis Bank v
The Ahmedabad Mercantile Co-operative bank
Limited |
|
|
|
|
Facilities : |
- |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
H D Patel (Patel Mankad and Company) Chartered Accountants |
|
Address : |
106, Kamal Complex, |
|
|
|
|
Subsidiaries: |
Anand Enterprise |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10.00 each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
120000 |
Equity Shares |
Rs. 10.00 each |
Rs. 1.200
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.200 |
1.200 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.287 |
0.202 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1.487 |
1.447 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1.487 |
1.447 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.401 |
0.946 |
|
|
Cash & Bank Balances |
|
0.017 |
0.073 |
|
|
Other Current Assets |
|
0.057 |
0.000 |
|
|
Loans & Advances |
|
1.094 |
0.519 |
|
Total
Current Assets |
|
1.569 |
1.538 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.014 |
0.029 |
|
|
Provisions |
|
0.076 |
0.072 |
|
Total
Current Liabilities |
|
0.090 |
0.101 |
|
|
Net Current Assets |
|
1.479 |
1.438 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.008 |
0.010 |
|
|
|
|
|
|
|
|
TOTAL |
|
1.487 |
1.447 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
2.284 |
3.710 |
|
|
Other Income |
|
0.167 |
0.000 |
|
|
Total Income |
|
2.451 |
3.710 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.133 |
0.192 |
|
|
Provision for Taxation |
|
0.045 |
0.071 |
|
|
Profit/(Loss) After Tax |
|
0.088 |
0.121 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Total Expenses |
|
2.316 |
3.515 |
|
|
Financial Charges |
|
0.002 |
0.003 |
|
Total
Expenditure |
|
2.318 |
3.518 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
3.59 |
3.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
5.82 |
5.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
8.48 |
12.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.09 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.06 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
17.43 |
15.23 |
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Subject is a global trading group of chemical and
petrochemicals companies, operating in
Throughout the early nineteen century, the Group expanded with holding
exclusive dealership in United Phosphorus, GNFC, NCPL, Servo and Gujarat
Alkalies.
They are probably best known to the private for their product & service.
But they deliver a much wider range of chemicals and petrochemicals to
customers. These include logistic and trading oil and chemical, marketing the
same,
Their activities
include:
- Marketing,
logistic and trading oil and chemical
- Providing oil
products for industrial uses including fuel and lubricant for ships and
planes
- Providing
petrochemicals that are used for plastics, coatings and detergents
Culture
Customer satisfaction is their culture. To ensure Total Customer Satisfaction, all company’s employees adhere to their Quality Policy:
v
They will thoroughly understand the
needs and requirements of all of their customers.
v
They will consistently provide services
that meet or exceed their customers' needs and requirements.
v
They will continue to look for
ways to improve everything they do.
v
They will "Do It Right the
First Time" with a "Can Do" attitude.
The globalization of markets, public awareness and concern for environmental issues, and explosion of e-markets are bringing fierce competitive pressure to bear on the petrochemicals enterprise. Global competition is forcing examination of the costs embedded in current supply and demand chains and challenging companies to access new markets and provide better service to existing customers.
Subject identify himself to help out petrochemical companies respond to these
challenges by enabling them to focus on their core business competencies,
reduce costs, improve yield operating margins, and increase market penetration.
For these companies, subject would like to act as a strategic partner so they
can focus on their competitive position within their industry —in areas that
include:
v Logistics: Maximize the utilization of distribution assets by linking demand and supply planning with transport logistics
v Supply and Logistics: Enhance the return on trading and the efficiency of supply and distribution to the customer
v Marketing and Retail: Manage the brand and increase customer loyalty while reducing value chain costs by linking product sellers and buyers
v Business Support: Effectively manage cross-stream operations and corporate accountabilities in materials maintenance management; health, safety, and environment; financial management; workforce management; and royalty and tax accounting
Their services enable their clients to reduce working capital requirements and
improve cash management; minimize risks associated with Health, Safety, and
Environment regulatory compliance through collaboration, tracking, training,
and reporting; and better utilize transportation assets by integrating
transport scheduling and tracking operations
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 41.01 |
|
|
1 |
Rs. 81.39 |
|
Euro |
1 |
Rs. 55.30 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
TOTAL |
|
27 |
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. |
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 |
|