MIRA
INFORM REPORT
|
Report Date : |
21.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
BRITACEL
SILICONES LIMITED |
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Registered Office : |
F –18, Street No.
23, MIDC, Marol, Andheri (East), Mumbai – 400 093, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
15.10.1990 |
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Com. Reg. No.: |
11-58541 |
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CIN No.: [Company
Identification No.] |
U70101MH1990PLC058541 |
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IEC No.: |
0391153919 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB11251C |
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PAN No.: [Permanent
Account No.] |
AABCB2289A |
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Legal Form : |
Closely held
public limited liability company |
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Line of Business : |
Manufacturers,
Exporters, Importers, Dealers, Wholesalers, Retailers, Processors and Agents
of Textiles Software Silicones. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 950000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established company having satisfactory track. Directors are reported as respectable, experienced and having
satisfactory means of their own. Their trade
relations are fair. Payments are reported as correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
F –18, Street No.
23, MIDC, Marol, Andheri (East), Mumbai – 400 093, Maharashtra, India |
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Tel. No.: |
91-22-28394002 (7
Lines) / 56901101 (4 Lines) |
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Mobile No.: |
91-9821010889 |
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Fax No.: |
91-22-28394003 |
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E-Mail : |
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Website : |
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Area : |
636 sq. mtrs. |
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Location : |
Owned |
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Administrative
Office : |
27A, 2nd
Floor, ‘C’ Wing, Raj Industrial Complex, Marol Military Road, Andheri (East),
Mumbai – 400 059, Maharashtra, India |
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Tel. No.: |
91-22-28502001 (7
Lines) |
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Mobile : |
91-9821010889 |
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Fax No.: |
91-22-28502003 |
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E-Mail : |
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PLANTS : |
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Unit 1 : |
F - 18, Street No. 23, MIDC, Marol, Andheri
[East], Mumbai – 400093, Maharashtra, India |
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Area : |
636 sq. mtrs. –
plot area 628.92 sq. mtrs.
– built up area |
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Unit 2 : |
Shed No. D-2/6,
Plot No. 192/F, Kundaim Industrial Estate, Kundaim, District Ponda, Goa –
403110, India |
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Tel. No.: |
91-832-2395104/2395105 |
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Fax No.: |
91-832-2395104 |
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Area : |
1423 sq. mtrs. –
plot area 250 sq. mtrs. –
built up area |
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Location: |
Owned |
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Unit 3 : |
Plot No. L – 125
& 126, Verna Industrial Estate, [Phase – III], Verna, Goa – 403772, India
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Tel. No. : |
91-832-2783939/2783940 |
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Fax No. : |
91-832-2782929 |
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E-mail : |
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Area : |
9672 sq. mtrs. –
plot area 1521 sq. mtrs. –
built up area |
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Location: |
Owned |
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Unit 4 : |
Plot No. L – 124,
Verna Industrial Estate, Phase III, Verna, Goa – 403 772,
India |
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Tel. No.: |
91-832-2783939/
2783940 |
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Fax No.: |
91-832-2782929 |
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E-mail : |
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Area : |
7125 sq. mtrs. –
plot area 849.88 sq. ft. –
built up area |
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Location: |
Owned |
DIRECTORS
|
Name : |
Mr. Naishadh
Hiren Desai |
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Designation : |
Chairman &
Managing Director |
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Address : |
Flat No. 49 A/B,
Yashodham, Plot No. 68, Gen. A. K. Vaidya Marg, Goregaon (East), Mumbai – 400
063, Maharashtra |
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Date of Birth/Age : |
11.12.1955 |
|
Qualification : |
B. Sc., FICS (W.
Germany) |
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Experience : |
24 years |
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|
|
|
Name : |
Mr. Ketan Hiren
Desai |
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Designation : |
Director
[Technical] |
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Address : |
Flat No. 49 A/B,
Yashodham, Plot No. 68, Gen. A. K. Vaidya Marg, Goregaon (East), Mumbai – 400
063, Maharashtra |
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Date of Birth/Age : |
12.12.1965 |
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Qualification : |
B. Pharm |
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Experience : |
15 years |
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Name : |
Ms. Kamini Hiten
Desai |
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Designation : |
Executive
Director |
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Address : |
Flat No. 49 A/B,
Yashodham, Plot No. 68, Gen. A. K. Vaidya Marg, Goregaon (East), Mumbai – 400
063, Maharashtra |
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Date of Birth/Age : |
12.12.1965 |
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Qualification : |
B. Com. |
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Experience : |
15 years |
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|
|
|
Name : |
Mr. Hiren
Manibhai Desai |
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Designation : |
Director |
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Address : |
403, Madhuban, S.
V. Road, Goregaon (West), Mumbai – 400062, Maharashtra |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mr. Naishadh Hiren Desai |
46,100 |
16.92% |
|
Mr. Kitan Hiren Desai |
39,500 |
14.50% |
|
Mr. Hiren M. Vashi |
36,750 |
13.49% |
|
Ms. Kamini Desai |
43,650 |
16.02% |
|
Mrs. Nalini Hiren Vashi |
17,500 |
6.42% |
|
Mr. Apurva Desai |
43,900 |
16.12% |
|
Ms. Bhavana Desai |
45,000 |
16.52 % |
|
Total |
2,72,400 |
100.00% |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers,
Exporters, Importers, Dealers, Wholesalers, Retailers, Processors and Agents
of Textiles Software Silicones. |
|
|
|
|
Products : |
v Silicone Emulsions v Flame Retardants v Micro Amino Emulsions v Amino Silicone Elastomers v Modified Silicone Elastomers v Silicone Resins v Silicone Cationics v Water Repellants v Defoamers v Hydrophilic Softeners v Silicone Elastomers v Perfumed Emulsions v Exhaustible silicone Softeners (New
Introduction) |
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Exports : |
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Countries : |
Dubai, Pakistan,
Egypt, Tanzania, South Africa, Thailand, Malaysia, Israel, Philippines and
Hong Kong, Taiwan, Srilanka, Singapore (textiles software silicone) |
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Imports : |
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Countries : |
Japan, U.S.A.,
Spain, Germany and Singapore [Silicone Fluid and Silicone Monomer] |
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Terms : |
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Selling : |
Cash or Credit
[60/90/120 days] |
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Purchasing : |
Cash, Credit [60
days] and Other |
PRODUCTION STATUS
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Textile Softners
(Silicones) |
MT |
|
7500 |
5372.87 |
|
Silicones |
MT |
|
6500 |
-- |
|
Textile Softners
(Unit I – Mumbai) |
MT |
|
1000 |
-- |
|
Textile Softners
(Unit II – Kundaim – Goa) |
MT |
|
1500 |
-- |
|
Textile Softners
(Unit III – Verna – Goa) |
MT |
|
4000 |
-- |
GENERAL
INFORMATION
|
Suppliers : |
D. H. Road, Chandi, 24 Praganas (S), West Bengal – 743 503 Tel. 91-33-24708384 Contact Person – Mr. Dutta
Wockhardt Towers, East Wing, Level – 2, Bandra Kurla Complex, Bandra
(East), Mumbai – 400 051, Maharashtra Tel. 91-22-56946868 Contact Person – Mr. S Deshpande
Jay Mahal Estate, 2nd Floor, 20/48, Lohar Chawl, Road No.
4, Mumbai – 400 021, Maharashtra Tel. 91-22-22068106 Contact Person – Mr. Nimish / Mr. Katkar
66/E, Industrial Estate, Masat, Silvassa, Gujarat Tel. 91-79-26734980 Contact Person – Mr. Agrawal / Mr. Rakesh
Triveni, Mith Chowki, Marve Road, Malad (West), Mumbai – 400 064,
Maharashtra Tel. 91-22-28809535 Contact Person – Mr. Shashikant / Mr. Sudhakar
D 2 / 26, Bicholim Industrial Estate, Bicholim, Goa – 403 529 Tel. 91-832- 2362337 / 2362898 |
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Customers : |
§
End Users
Jekegram, Pokhran, Thane – 400 606, Maharashtra Tel. 91-22-5344191 Contact Person – Mr. Uchil
Trident Complex, Erial Rest, Rajkot Road, Barnala, Gujarat Tel. 91-2642-1679295251 Contact Person – Mr. Jogindhar / Mr. Tarun Rawal
Survey No. 316, National Highway, Village Bakrol, Taluka Panoli,
District Bharuch, Gujarat Contact Person – Mr. Somsundar |
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No. of Employees : |
92 |
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Bankers : |
> State Bank of India Backbay Reclamation Branch, Nariman Point, Mumbai – 400 021,
Maharahstra The company enjoys Credit Limits facility of Rs. 157.500 millions from
its’ bankers > Development Credit Bank Limited Fort Branch, 8, Raja Bahadur Mansion, 16, Ambalal Doshi Marg, Fort,
Mumbai – 400 001, Maharashtra Tel. 91-22-22701871 / 72 / 73 (The company enjoys Credit Facilities
of Rs. 160.000 millions from it’s bankers) |
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Facilities : |
-- |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Rameshbhai R.
Shah & Company Chartered
Accountants, |
|
Address : |
A/307, Vertex
Vikas, Sir Mandapeshwar Road, Andheri (East), Mumbai – 400 103, Maharashtra |
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Tel. No.: |
91-22-28320733 |
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Memberships : |
Nil |
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Collaborators : |
Nil |
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Associates/Subsidiaries : |
> Enpee Pharma Private Limited F-18, Street No. 23, MIDC Marol, Andheri (East), Mumbai – 400 093, Maharashtra Business – Carrying out job work for company (BSL), 100% subsidiary of
BSL > Count Fabri Fluidomatics Limited 29-C, Raj Industrial Complex, Marol Military Road, Andheri (East),
Mumbai – 400 059, Maharashtra > Britacel Exports Private Limited 27-C, Raj Industrial Complex, Marol, Military Road, Andheri (East),
Mumbai – 400 059, Maharashtra Business - Trading in Textile Softners and Auxillaries > Count Fabri-Fluidomatics Limited 29-C, Raj Industrial Complex, Marol, Military Road, Andheri (East),
Mumbai – 400 059, Maharashtra > Britacel PCB Chemicals Limited |
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 |
|
272400 |
Equity Shares |
Rs. 100/- each |
Rs. 27.240 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
27.240 |
27.240 |
27.240 |
|
|
2] Reserves &
Surplus |
209.489 |
175.326 |
150.914 |
|
NETWORTH
|
236.729 |
202.566 |
178.154 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
133.165 |
137.038 |
137.541 |
|
|
2] Unsecured
Loans |
0.000 |
4.000 |
4.000 |
|
TOTAL
BORROWING
|
133.165 |
141.038 |
141.541 |
|
|
DEFERRED TAX
LIABILITIES |
1.688 |
1.255 |
0.023 |
|
|
|
|
|
|
|
TOTAL
|
371.582 |
344.859 |
319.718 |
|
|
|
|
|
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APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block]
|
49.755 |
36.040 |
32.576 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
24.281 |
24.282 |
19.230 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
|
70.532
|
|
|
Sundry Debtors
|
|
|
170.828
|
|
|
Cash & Bank Balances
|
388.017
|
378.975 |
12.046
|
|
|
Other Current Assets
|
|
|
0.000
|
|
|
Loans & Advances
|
|
|
60.499
|
Total Current Assets
|
388.017
|
378.975 |
313.905
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities & Provisions
|
90.615
|
94.618 |
46.061
|
Total Current Liabilities
|
90.615
|
94.618 |
46.061
|
|
Net
Current Assets
|
297.402
|
284.357 |
267.844
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.144 |
0.180 |
0.068 |
|
|
|
|
|
|
|
TOTAL
|
371.582 |
344.859 |
319.718 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
682.716 |
589.961 |
568.624 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
37.667 |
40.664 |
36.589 |
Provision for Taxation
|
3.000 |
10.460 |
10.023 |
Profit/(Loss) After Tax
|
34.667 |
30.204 |
26.555 |
|
|
|
|
|
Export Value
|
110.274 |
89.445 |
55.872 |
|
|
|
|
|
Import Value
|
73.635 |
94.203 |
114.065 |
|
|
|
|
|
Total Expenditure
|
645.049 |
549.405 |
538.805 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
5.07
|
5.12 |
4.67
|
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
5.51
|
6.89 |
6.43
|
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
8.15
|
9.25 |
11.65
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.16
|
0.20 |
0.20
|
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
1.95
|
2.17 |
0.25
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
4.28
|
4.00 |
6.81
|
LOCAL AGENCY
FURTHER INFORMATION
The company’s
registered office was shifted from 403, Madhuban, S. V. Road, Goregaon (West),
Mumbai – 400 062 to the above address.
History :
The company was
propounded by Mr. Hiren Desai the founder director of the company.
Britacel Silicones
Private Limited was incorporated in 1990 with an aim of manufacturing exclusive
silicones of textiles finishing. At the time of incorporation on 15.10.1990,
there were only 2 Directors namely, Mr. Naishadh Hiren Desai and Mr. Ketan
Hiren Desai. Ms. Kamini Hiren Desai was introduced as 3rd Director
of the company on 01.01.1992 and Mr. Hiren Manibhai Vashi was introduced as 4th
Director of the company on 30.03.2004.
Manufacturing
activity of Silicones hitherto being conducted in the name of “Britacel” with
Mr. Naishadh Desai as the proprietor was taken over by the Company BSPL,
subsequent to its formation.
Subject has
established its credentials as manufacturers of speciality silicones with
excellent quality control. It is the largest supplier of speciality silicones
in India today with over 35% market share. The company has shown a phenomenal
jump of about 10 times in the turnover during the past five years while
multiplying its reserves by 140 times.
The company’s
product developments not only consist of ultra modern equipments but also a
product development team comprising of highly qualified and experienced professionals.
Its family includes Lab Chemists, Technical Executives, Marketing Executives,
Production Executives, Polymer
Chemists, Sales Logistics Team and Financial Executives.
The company’s
manufacturing facilities are at Mumbai and Goa with total installed capacity of
2000 tons per annum. The earnest efforts of the organisation have yielded in a
good range of speciality silicones that are being manufactured and marketed by
it.
The company started
its manufacturing activities in the year 1989 in Mumbai and after 1992 started
its manufacturing activities at Plot No. F-18, Street No. 23, MIDC Marol,
Andheri (East), Mumbai – 400 093, which was owned by Empee Pharma Private
Limited in order to expand its activities. BSPL started its 2nd unit
at Kundaim, Goa in November 1995 again further to cope-up with the increased
demand BSPL went for 3rd phase expansion at Verna, Goa in March,
1998 with the physical factory area more than 16000 sq. fts. by virtue of
turnover exceeding Rs. 300 millions, statutorily BSPL was converted into “Britacel Silicones Limited” a deemed Public
Limited Company U/S 43 (2A) of the companies Act, 1956.
Business :
The silicones
manufactured by the company meet the ever changing demands of the Textile
processing industries starting from Micro Emulsions for durability, softness
and superior bouncy effect, Silicone Elastomer for crease recovery and silky
feel, Defoamer for hot spinning and jet dyeing, Body Fillers, Water Repellants,
Printing aids to reactive dyes to name a few.
The company’s fixed
assets of important value include land leasehold, residential premises, factory
building, industrial units (shed I & II), plant & machinery, electrical
instruments, air conditioner, weighing scale, water tank, lab equipment, office
equipment, furniture & fixtures, computer, motor car, scooter, typewriters
and overhead projector.
As per Web
Details :
This principal has taken the company to the Enviable
heights in business & has imparted it an impressive presence in the
domestic as well as global market with an exclusive & wide range of
speciality silicones.
In the daring vision of Mr.
Hiren Vashi, the Founder Director, Britacel has established its
credentials as manufacturers of speciality silicones with excellent quality
control. Being the largest supplier of Speciality Silicones in
India today with over 35% market share, Britacel has shown a phenomenal jump of
about 10 times in the turnover during the past five years while multiplying its
reserves by 140
times.
The product
developments not only consists of Ultra Modern equipments but also a product
development team comprising of highly qualified and experienced professionals.
The family includes :- Lab Chemists, Technical Executives, Marketing
Executives, Production Executives, Polymer Chemists, Sales Logistic Team &
Financial Executives.
The R&D Center is supported by a range of sophisticated instruments to
render a sharp edge to its scientific endeavor. The company is proud to be a
pioneer in introducing so many new concepts in Indian market like Micro
Emulsions, Silicone Elastomers etc.
Manufacturing facilities are at Mumbai & Goa with
total installed capacity of 2000 tons per annum. The earnest efforts of the organisation have yielded in a good
range of speciality silicones that are being manufactured & marketed by it.
The range covers ----Silicone Emulsions, Micro Amino Emulsions, Perfumed Amino Emulsions,
Silicone Elastomers, Amino Silicone Elastomers, Silicone Resins, Silicone Cationics, Water Repellants, Defoamers & Hydrophilic Softeners.
The persistent quest towards Globalization has resulted in acceptance of Britacel
products in countries like Turkey, Portugal, Egypt, Italy,
U.S.A., Thailand, Sri Lanka, Pakistan & Bangladesh.
|
CHARACTERISTIC
PROPERTIES OF PROPRIETARY SILICONES |
|
Product\ |
Hydro- |
Durability |
Surface |
Inner- |
Non- |
Crease |
Low |
Body |
Bounci- |
Smooth |
Method of Application |
Special |
|
* |
**** |
* |
**** |
** |
** |
** |
* |
*** |
* |
Padding |
100% |
|
|
ULTRASOF |
*** |
*** |
*** |
** |
*** |
** |
** |
** |
** |
*** |
Padding |
100%
Polyester |
|
* |
*** |
*** |
** |
** |
* |
** |
* |
*** |
*** |
Exhaust |
100%
Cellulosics and blends with polyester especially knits. |
|
|
**** |
*** |
**** |
**** |
**** |
* |
** |
* |
** |
** |
Exhaust |
100%
Cotton knits and terry towels. |
|
|
ELASTOSOF |
* |
*** |
*** |
*** |
** |
*** |
** |
** |
*** |
*** |
Padding |
100%
Polyester fabric like sarees & shirting. |
|
* |
**** |
*** |
* |
*** |
*** |
** |
*** |
**** |
** |
Padding |
100%
Polyester and Cellulosic blends especially suiting. |
|
|
* |
*** |
*** |
*** |
** |
* |
** |
** |
** |
** |
Padding |
100%
Polyester and Cellulosic blends like suiting &shirting. |
|
|
* |
**** |
*** |
*** |
** |
** |
** |
* |
**** |
*** |
Padding |
Polyester
rich blends with cellulosics. |
|
|
* |
**** |
**** |
**** |
*** |
** |
*** |
* |
** |
** |
Exhaust |
100%
Cotton fabrics. |
|
|
* |
** |
*** |
** |
* |
** |
**** |
** |
** |
** |
Padding |
100%
Polyester fabrics. |
|
|
* |
** |
*** |
* |
*** |
* |
* |
** |
* |
** |
Exhaust/ |
100%
Cotton and blends with polyester on knits and garments. |
|
|
* |
** |
** |
* |
*** |
* |
** |
** |
* |
** |
Exhaust/ |
100%
Cotton & blends with polyester especially knits & garments on soft
flow machines. |
|
|
* |
*** |
**** |
** |
*** |
* |
* |
*** |
** |
*** |
Padding |
100%
Cotton knitted fabrics. |
|
|
LAXOF |
* |
*** |
*** |
** |
** |
** |
** |
* |
** |
*** |
Padding |
Polyester
Cellulosic blends like shirting and dress material. |
|
* |
**** |
**** |
**** |
*** |
*** |
** |
* |
** |
*** |
Padding |
100%
Polyester woven fabrics. |
|
|
COATSIL |
* |
* |
*** |
* |
**** |
** |
** |
** |
** |
*** |
Exhaust |
100%
Cotton knits on soft flow machines. |
|
* |
** |
*** |
* |
** |
**** |
** |
**** |
**** |
**** |
Padding |
100%
Polyester and cellulosic blends. |
|
|
NY EXSILK |
** |
** |
*** |
* |
**** |
* |
*** |
** |
* |
** |
Exhaust |
100%
Cellulosics, knits & garments,white and dyed. |
|
TERRYSOF |
**** |
** |
* |
** |
**** |
** |
** |
* |
* |
* |
Exhaust |
100%
Cellulosics and blends including terry towels. |
|
Fair * |
Good ** |
Better *** |
Excellent
**** |
Achievements :
Ø First to introduce “MICRO EMULSION” in India
and promote “INNER SOFTNESS” concept, with its STAR product “LAXOF”
Ø First to create a market for “SILICONE
ELASTOMERS” in India for Excellent Bounce and “CREASE RECOVERY”
Ø First to manufacture “HYDROPHILIC SILICONE”
with Extra softness for TOWEL INDUSTRIES
Ø The largest supplier of “SILICONE EMULSION”
in India with a 35% market share in the silicone category.
Ø First to introduce : “SILICONE EXHAUSTIBLE
SOFTNERS”.
Trade References:
- Wacker Chemie, GmbH
- O G Corporation
- Nahar Industrial Enterprises Limited
21st Mile Stone Ambala-Chandighar Road, District Patiala,
Near Ambala, Village Jalapur, P O Dappar – 140506
Tel. No.: 91-1762-506502
Contact Person: Mr. S S Airch/ S K Mohanty
- Abhishekh Industry Limited
E-212, Kitchlu Nagar, Ludhiana – 141001
Tel. No.: 91-161-5039999/ 2304000
Contact Person: Mr. Vijay Jain/ Ravindra Pal
- Clariant (India) Limited
Survey No. 316, National Highway, Village Bakrol, Taluka Panoli,
District Bharuch
Contact Person: Mr. Somsunder
- ICI (I) Limited
Post Box 87, Belapur Road, Thane – 400601
Tel. No.: 91-22-7780000
Contact Person: Mr. Pinto / Rangarajan
- Arvind Mills Limited
P O Khatraj, Taluka Kalol, District Gandhi Nagar – 382721
Tel. No.: 91-2764-281100
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.43.63 |
|
UK Pound |
1 |
Rs.85.58 |
|
Euro |
1 |
Rs.58.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
71 |
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 |
|