MIRA
INFORM REPORT
|
Report Date : |
06.02.2007 |
IDENTIFICATION DETAILS
|
Name : |
GARGI HUTTENES
ALBERTUS PRIVATE LIMITED |
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Registered Office : |
203, Vasant Vihar
Complex, Next to Basant Cinema, Dr. C Gidwani Road, Chembur, Mumbai - 400
074, Maharashtra, Mumbai. |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date of Incorporation : |
07.03.1988 |
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Com. Reg. No.: |
11-46413 |
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CIN
No.: [Company
Identification No.] |
U74999MH1988PTC046413 |
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Legal Form : |
Private limited
liability company |
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Line of Business : |
Manufacture, produce, process,
use, buy or otherwise acquire, develop, refine, manipulate, import, export,
sell, distribute, trade in, dispose off or otherwise deal in consumable
chemical products and auxiliary materials required by foundries and steel
Industries including core oil, foundry fluxes, resin coated sand and all
kinds of industrial resins and binders. Subject is engaged
in manufacturing of foundry chemicals and fluxes, P. F. resins, hardners and
refractory coatings. |
RATING
& COMMENTS
|
MIRA’s Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD850000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Directors are reported as experienced, respectable and
resourceful businessmen. Their trade
relations are reported as fair. General financial position is
satisfactory. Payments are reported
as slow but correct. |
LOCATIONS
|
Registered Office : |
203, Vasant Vihar
Complex, Next to Basant Cinema, Dr. C Gidwani Road, Chembur, Mumbai - 400
074, Maharashtra, Mumbai. |
|
Tel. No.: |
91-22-25563596 / 25563597 / 25562705
/ 25580815 / 25564379 / 25201596 |
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Fax No.: |
91-22-25562706 / 25562080 |
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E-Mail : |
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Website : |
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Corporate Office : |
205, Vasant
Vihar Complex, Next to Basant Cinema, Dr. C. Gidwani Road, Chembur, Mumbai -
400 074, Maharashtra, Mumbai. |
|
Tel. No.: |
91-22-25563596
/ 25563597 / 25562705 / 25580815 / 25564379
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Fax No.: |
91-22-25562706 /
25562080 |
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E-Mail : |
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Website: |
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Factory: |
Plot No. D-360,
M.I.D.C., TTC Industrial Area, District Thane, Maharashtra, India |
DIRECTORS
|
Name : |
Mr. Vinod Vishwamitra Kapur |
|
Designation : |
Chairman
and Managing Director |
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Address : |
18, Union
Park, Chembur, Mumbai - 400 071, Maharashtra, India |
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Qualification : |
B.Sc. |
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Date of Birth : |
26.10.1943 |
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Previous Employment: |
Gargi
Chemicals Private limited for 24 Years |
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Experience : |
41 years |
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Date of Appointment : |
07.03.1988 |
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Name : |
Mr. Vicky Vishwamitra Kapur |
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Designation : |
Joint Managing
Director |
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Address : |
18, Union
Park, Chembur, Mumbai - 400 071, Maharashtra, India |
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Qualification : |
B.Sc. |
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Date of Birth : |
30.10.1952 |
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Previous Employment: |
Gargi
Chemicals Private Limited for 24 Years |
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Experience : |
33 years |
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Date of Appointment : |
07.03.1988 |
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Name : |
Mr. Bernd
Stapenhorst (foreign) |
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Designation : |
Director |
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Address : |
Kalsar
Wihale Ringis, 4, Dusseldorf ober Kassel, West Germany |
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Date of Appointment: |
07.03.1988 |
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Name : |
Mr. Klaus
Karl Georg Pampel |
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Designation : |
Director |
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Address : |
Wiesenstrasse
23, 40549 Dusseldorf, Germany |
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Qualification : |
B.Sc. |
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Date of Appointment : |
14.02.2005 |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
Huttens Albertus Chemische werke GmbH
(Germany) |
194000 |
40.00 |
|
Mr. Vinod V. Kapur joint with Ms Vana K Ghatalia Ms Kamini Jain Ms Nandiata Ghatlia |
1 |
0.00 |
|
Mr. Vinod V. Kapur |
1 |
0.00 |
|
Mr. Vinod V. Kapur joint with Mr Rahul Jain |
1 |
0.00 |
|
Mr. Vinod V. Kapur joint with Mr S Bahrdwaja HUF Mr Rajkumar Keda HUF |
1 |
0.00 |
|
Mr Vinod Kapoor joint with Mr Yogesh Vyas |
1 |
0.00 |
|
Mr. Vinod V. Kapur joint with Ms Seema Kapur Mr J P Ahluwalia Mrs Hemlata Kamani |
1 |
0.00 |
|
Mr. Vinod V. Kapur joint with Mr P I Kapur |
1 |
0.00 |
|
Mr. Vinod V. Kapur joint with Mrs Hardevi Mehra Ms Sangeeta Mehra Mr Suresh Shastri |
1 |
0.00 |
|
Mr Vinod Kapoor joint with Ms Madhuri Mehra |
1 |
0.00 |
|
Mr Vinod Kapoor joint with Mr Nayyar Kapoor Ms Sudha Shastri |
1 |
0.00 |
|
Mr. Vinod V. Kapur joint with Mr U Periera |
1 |
0.00 |
|
Mr. Vinod V. Kapur joint with Ms Pushpa Jadhav Ms Kiran Gurbaxani Ms Anjana Gurbaxani |
1 |
0.00 |
|
Mr. Vinod V. Kapur |
32881 |
6.78 |
|
Mr. Vicky V. Kapur joint with Khosla Industries Mr VIshwamitra Shastri |
1 |
0.00 |
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Mr Vicky Kapur Joint with Ms Jyoti Gandhi |
1 |
0.00 |
|
Mr Vicky Kapur |
1 |
0.00 |
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Mr Vicky Kapur joint with |
1 |
0.00 |
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Mr Vicky Kapur joint with Ms Margaret Kedia Mr Rajkumar Kedia |
1 |
0.00 |
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Mr Vicky Kapur joint with Ms Bina Ray |
1 |
0.00 |
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Mr Vicky Kapur joint with Mr S Bhardawaja Mr K V Ghatia |
1 |
0.00 |
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Mr Vicky Kapoor joint with Ms Sitadevi Sahani |
1 |
0.00 |
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Mr Vicky Kapur joint with Ms Heena S Maru |
1 |
0.00 |
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Mr Vicky Kapur joint with Ms Vaishali K Ghatalia Ms Anjali Kedia |
1 |
0.00 |
|
Mr Vicky Kapur |
32883 |
6.78 |
|
Gargi Holdings Private Limited |
375 |
0.08 |
|
Mr Vishamitra Kapur HUF Karta Mr.
Vinod Kapur |
115089 |
23.73 |
|
Mr. Vinod Kapur Joint HUF |
44000 |
9.07 |
|
Ms. Vicky Kapoor HUF |
44000 |
9.07 |
|
Mr Gaurav V Kapoor Joint with Mr Vinod Kapoor Ms Geeta V Kapoor |
10875 |
2.24 |
|
Master Varun V Kapoor (Minor) joint
with Father Mr Vicky Kapoor Mrs Namita V Kapoor |
10875 |
2.24 |
|
Total |
485000 |
100.00 |
BUSINESS
DETAILS
|
Line of Business : |
Manufacture, produce, process,
use, buy or otherwise acquire, develop, refine, manipulate, import, export,
sell, distribute, trade in, dispose off or otherwise deal in consumable
chemical products and auxiliary materials required by foundries and steel
Industries including core oil, foundry fluxes, resin coated sand and all
kinds of industrial resins and binders. Subject is engaged
in manufacturing of foundry chemicals and fluxes, P. F. resins, hardners and
refractory coatings. |
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Products : |
Generic Names of the Principal
Products of the company are : Name of the Product Item Code No P. F. Resins 39094020 Hardners 38159000 Refractory
Coatings 38160000 |
PRODUCTION
STATUS
|
Particulars |
Installed Capacity |
Actual Production |
|
Foundry
Resins, Hardeners and Coatings |
17000
TPA |
13632
Matrix
Tones |
GENERAL
INFORMATION
|
No. of Employees : |
200 |
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Bankers : |
Ř
The Cosmos Cooperative Bank Limited, Pune Ř
Development Co-operative Bank Limited, Vashi Branch, New
Mumbai – 400703, Sector 17, DBC Vashi |
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Facilities
: |
The Cosmos Cooperative Bank Limited – 1. Hypothecation
of Tangible goods/movable property : Rs. 7.000 millions as on 22.04.2003 2. Hypothecation
of Tangible goods/movable property : Rs. 5.000 millions as on 03.12.2003 |
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Banking
Relations : |
- |
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Auditors : |
J.V. Sanghvi & Company Chartered Accountants |
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Address: |
90 Feet Road, 4/97, Pant Nagar,
Mumbai - 400 075,Maharashtra, India |
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Tel. No. |
91-22-25129458 |
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Collaborators |
Huttenes Albertus
Chemische Werk Gmbh |
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Associates/Subsidiaries : |
Ř
Gargi Steel Chem Private Limited Ř
Gargi Holding Private Limited Ř
Gargi Impex Corporation Ř
Gargi Steel Chem Private Limited Ř
Karjat Horticultural Private Limited Ř
GVK Trust Ř
Varun Enterprises Ř
Gargi Mettallurgical Corporation (Merged with Gargi Chemicals Private
Limited) 205,
Vasant Vihar Complex, Next to Basant Cinema, Dr. C. Gidwani Road, Chembur,
Mumbai - 400 074, Maharashtra, Mumbai. Tel.
No. : 91-22-25563596 / 25563597 / 25562705 / 25580815 / 25564379 Fax
No. : 91-22-25562706 / 25562080 E-Mail :
gargi@bom2.vsnl.net.in / info@gargi-india.com
Website
: http://www.gargi-india.com Act
as traders Ř
Gargi Industries - Division of Gargi
Chemicals Private Limited 2, Mercantile
Apartments, Next to Basant Cinema, Chembur, Mumbai - 400 074 Tel. No.
91-22-25563596 / 97 Fax No.
91-22-25562706 / 25572080 E Mail : gargi@bom2.vsnl.net.in Website : http://www.gargi-india.com |
CAPITAL
STRUCTURE
Authorised Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity
Shares |
Rs. 100/-each |
Rs.
50.000 millions |
Issued, Subscribed & Paid-up
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
485,000 |
Equity
Shares |
Rs. 100/- each |
Rs.
48.500 millions |
FINANCIAL DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
48.500 |
48.500 |
48.500 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
169.526 |
125.154 |
79.273 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
218.026 |
173.654 |
127.773 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
37.922 |
56.715 |
30.691 |
|
|
2] Unsecured Loans |
39.990 |
23.726 |
18.589 |
|
TOTAL BORROWING
|
77.912 |
80.441 |
49.280 |
|
|
DEFERRED TAX LIABILITIES |
4.221 |
5.005 |
5.175 |
|
|
|
|
|
|
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TOTAL
|
300.159 |
259.100 |
184.228 |
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APPLICATION OF
FUNDS
|
|
|
|
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FIXED ASSETS [Net
Block]
|
56.858 |
53.388 |
47.896 |
|
Capital
work-in-progress
|
0.982 |
0.051 |
0.000 |
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INVESTMENT
|
5.166 |
0.268 |
0.268 |
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CURRENT ASSETS,
LOANS & ADVANCES
|
|
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Inventories
|
59.256 |
50.409 |
24.079 |
|
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Sundry Debtors
|
338.359 |
267.547 |
175.985 |
|
|
Cash & Bank
Balances
|
12.723 |
18.477 |
8.515 |
|
|
Other Current
Assets
|
0.000 |
0.000 |
0.000 |
|
|
Loans &
Advances
|
14.471 |
7.562 |
5.702 |
|
|
Total
Current Assets
|
424.809 |
343.995 |
214.281 |
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current
Liabilities
|
145.755 |
130.081 |
67.586 |
|
|
Provisions
|
41.901 |
8.521 |
12.631 |
Total
Current Liabilities
|
187.656 |
138.602 |
80.217 |
|
Net Current Assets
|
237.153 |
205.393 |
134.064 |
|
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|
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|
MISCELLANEOUS
EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
300.159 |
259.100 |
182.228 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
Sales Turnover
[including other income]
|
|
922.938 |
574.436 |
|
|
|
|
|
Profit/(Loss)
Before Tax
|
|
82.750 |
54.120 |
Provision for
Taxation
|
|
31.490 |
19.941 |
Profit/(Loss)
After Tax
|
|
51.260 |
34.179 |
|
|
|
|
|
Export Value
|
|
57.361 |
38.079 |
|
|
|
|
|
Import Value
|
|
132.128 |
58.506 |
|
|
|
|
|
|
Total
Expenditure |
|
840.188 |
520.317 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
|
NA
|
5.55 |
5.95 |
|
|
|
|
|
|
|
Net Profit
Margin(PBT/Sales) |
|
NA
|
8.96 |
9.42 |
|
|
|
|
|
|
|
Return on
Total Assets(PBT/Total Assets} |
|
NA
|
21.03 |
20.64 |
|
|
|
|
|
|
|
Return on Investment
(ROI)(PBT/Networth) |
|
NA |
0.47 |
0.42 |
|
|
|
|
|
|
|
Debt Equity
Ratio(Total Liability/Networth) |
|
1.21 |
1.26 |
1.01 |
|
|
|
|
|
|
|
Current
Ratio(Current Asset/Current Liability) |
|
2.26 |
2.48 |
2.67 |
LOCAL
AGENCY FURTHER INFORMATION
Subject is joint
venture between Gargi Group and Huttenes Albertus Chemicals Works GmbH,
Germany.
The group has
manufacturing facilities at Navi Mumbai, Taloja and Belgaum. It also has offices and godowns at
Ahmedabad, Baroda, Belgaum, Bangalore, Chandigarh, Coimbatore, New Delhi,
Hyderabad, Kolhapur, Chennai, Pune, Raipur and Sholapur.
The company's fixed
assets of important value include MIDC leasehold land, factory building, plant
& machinery, electrical installation and office equipments.
The company employs
around 200 persons in its' set up.
The group employs
around 270 dynamic personnel including strong technical team and has excellent
marketing network all over India.
Leading
manufacturers of foundry additives, fluxes, degassers, metal feeding aids, etc.
It exports its products to Middle East, Africa and South East Asian
Countries. It represents the following
:
Ř
Omega Foundry Machinery Limited, UK
(Continuous sand mixers / reclamation plant)
Ř
Henrich Wagner Sinto, Germany (Moulding
lines with high pressure air flow moulding machine)
Ř
Simpson Technologies, Switzerland (Sand
mixers / mullers, multi coolers)
Ř
Globe Metallurgicals, USA (Magnesium
ferro silicon alloys)
Ř
Le Laboratories, France (Ceramic metal
filters)
The product range includes :
Ř
Phenolic no Bake Binders including fast
setting types, novalak for coated sands, cold box resins, furan resin, ester
cured phenolic resins
Ř
Refractory coatings including zircon
base coating, zircon / graphite base coating, ceramic / graphite / iron oxide
base coating and magnasite base coating
Ř
Three part no bake system
Ř
Core oils
Ř
CO2 binder and breakdown agent
Ř
Innoculants for high duty grey iron and
S.G. iron
Ř
Sleeves and exothermic compounds
Ř
Slag holding compounds
Ř
Hot tops and tundish boards
Ř
Hot joining and cold joining core paste
Ř
Degasser, deoxidisers and grain
refiners for non ferrous
Ř
Lubricants for die casting
Ř
Gargi Softsys Private Limited
Subject
offers a wide range of value-added consultancy in information technology and
custom-made software development services.
The services include :
Ř
Business management control system
Ř
Inventory control systems
Ř
Application software systems for
scientific and engineering applications
Ř
Production control systems
Ř
General support services including
web-based projects
Ř Software
interfaces for automated control of instruments / measuring devices including
data acquisition and data processing.
Product
Technology
With GERMAN TECHNOLOGY : Phenolic no Bake Binders including,
Fast
Setting Types
Novalak
for Coated Sands
Cold
Box Resins
Furan
Resin
Ester
Cured Phenolic Resins
The Latest in Refractory Coatings,
Zircon
Base Coating
Zircon/Graphite
Base Coating
Ceramic
/ Graphite / Iron Oxide Base Coating
Magnasite
Base Coating
With GARGI IN-HOUSE RESEARCH & DEVELOPMENT :
Three
Part No Bake System
Core
Oils
CO2
Binder and Breakdown agent
Innoculants
for High Duty Grey Iron and S.G.Iron
Sleeves
and Exothermic Compounds
Slag
Holding Compounds
Hot
Tops & Tundish Boards
Hot Joining and Cold Joining Core Paste
Degasser, Deoxidisers and Grain Refiners for
Non-Ferrous
Lubricants for Die Casting
Performance
During the year
2004-05, the company registered substantial growth in sales by Rs 348.100
Millions increase by 61 %. The volume of sales jumped from Rs 573.800 Millions
to Rs 921.900 Millions significantly improving the company’s market share. The
export sales grew by 50%.
The company has
achieved sustainable growth in its operations supported by aggressive marketing
policy, motivated management team, better operating and financial efficiency.
The cost management and strategic management techniques helped in maintaining a
good profitable track record despite increase in input costs which could not be
fully passed on to the customers.
The year under review
witnessed unprecedented increase in prices of major raw materials viz.
Petroleum Products and petrol based chemicals and with robust global demand,
price as well as material availability continued to be a major challenge.
The relative
impressive top and bottom line achievements have been in a backdrop of
continuing steep increase in the input costs. The overall performance,
therefore proves both the volume and price leadership of the company.
Fixed Assets
- Leasehold Rights to MIDC Land
- Land at Mann (Pune)
- Factory Buildings
- Office Premises
- Staff Quarters
- Trade Mark
- Plant and Machinery
- Electrical Installation
- Furniture and Fixtures
- Motor Cars
- Delivery Vans
- Office Equipments
- Office Equipments (Computers)
|
Name of the company |
GARGI HUTTERIES ALBERTUS PRIVATE
LIMITED |
|
1) Date and description of instrument
creating the change |
Modification
of Charge/ Mortgage dated 24.04.2002 modified on 23.10.2006 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs
145.000 Millions |
|
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 |
Modification
of Charge/ Mortgage dated 24.04.2002 modified on 23.10.2006 with increased
total limit to Rs 145.000 Millions |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
NA |
|
5) Name and Address and description
of the person entitled to the charge. |
The
Cosmos Co-operative Bank Limited Chembur
Branch, Mumbai – 400071, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
23.10.2006 |
|
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. |
NA |
|
Name of the company |
GARGI HUTTERIES ALBERTUS PRIVATE
LIMITED |
|
1) Date and description of instrument
creating the change |
Agreement
of Mortgage/ Charge created on 20.11.2006 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs 30.000
Millions |
|
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 |
Agreement
of Mortgage/ Charge created on 20.11.2006 with Rs 30.000 Millions |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
NA |
|
5) Name and Address and description
of the person entitled to the charge. |
Citi Bank
N.A. Global
Corporae Banking, 1st Floor, Block F No C-61, Bandra East, Mumbai
– 400051, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
20.11.2006 |
|
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. |
NA |
|
Name of the company |
GARGI HUTTERIES ALBERTUS PRIVATE
LIMITED |
|
1) Date and description of instrument
creating the change |
Hypothecation
of Tangible Goods/ Movable Property dated 24.10.2005 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs 5.000
Millions |
|
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 |
Stock and
book-debts lying at the borrower’s premises at D-360, TTC Industrial Area,
Thane, company’s property at D-360, TTC Industrial Area, Thane and the plant
and machinery located at the aforesaid premises and flat no 205, vasant vihar
complex, chembur, Mumbai |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
Interest
@ 8.50 p.a. Facility
: Packing Credit |
|
5) Name and Address and description
of the person entitled to the charge. |
The
Cosmos Co-operative Bank Limited Chembur Branch,
Plot No 208, ED-EL Building, Central Avenue, 11th Road, Chembur Mumbai –
400071, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
|
Name of the company |
GARGI HUTTERIES ALBERTUS PRIVATE
LIMITED |
|
1) Date and description of instrument
creating the change |
Agreement
of Mortgage/ Charge on Book Debts, Movable property (not being pledge),
Floating charge created on 20.11.2006 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs 30.000
Millions |
|
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 |
The whole
of movable assets, including stocks of raw materials, goods in process of
manufacture, semi finished goods and all finished and manufactured goods and
articles together with all stores, components and spares which now belongs to
and pertains to or may hereafter from time to time during the continuance of
this security. |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
Rate of
Interest The company shall pay interest to bank on
the principal amount of the aforesaid fund based facilities advanced and
outstanding from time to time with monthly rests on the last date of each
month in each year. The bank shall at any time or from time to time entitled
to change the rate of interest and notify such changes to the borrower. Margin Margin of
security of 32% against the said stocks and 40% against the book debts Extend
and operation of charge The
borrower hypothecated / charged the properties stated in Item No 14 by way of
first charge to and in favour of the bank for the credit facilities together
with interest, cost commission, costs, charges, expenses and all other monies
which are payable to the bank. |
|
5) Name and Address and description
of the person entitled to the charge. |
Citi Bank
N.A. Global
Corporae Banking, 1st Floor, Block F No C-61, Bandra East, Mumbai
– 400051, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
20.11.2006 |
|
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. |
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.44.10 |
|
UK Pound |
1 |
Rs.86.58 |
|
Euro |
1 |
Rs.57.04 |
SCORE &
RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|