MIRA
INFORM REPORT
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Report Date : |
26.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ACALMAR OILS AND FATS LIMITED |
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Registered Office : |
203, Diamond House, Behind Topaz Building, Punjagutta, Hyderabad
500082, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
09.01.2002 |
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Com. Reg. No.: |
01-038337 |
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CIN No.: [Company
Identification No.] |
U15142AP2002PLC038337 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA01945G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of Edible Oil and Oil Products |
RATING &
COMMENTS
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MIRAs Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 800000 |
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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 and reputed company having
satisfactory track. Directors are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
203, Diamond House, Behind Topaz Building, Punjagutta, Hyderabad
500082, Andhra Pradesh |
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E-Mail : |
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Factory 1 : |
Aparna Crest, 4th Floor, Road No. 2, Banjara Hills, Hyderabad
500033, Andhra Pradesh |
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Tel. No.: |
91-40-66363604/5 |
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Mobile No.: |
91-9848055790 |
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Fax No.: |
91-40-66661850 |
DIRECTORS
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Name : |
Mr. Pradeep Kumar Chowdhry |
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Designation : |
Director |
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Address : |
402, Padmaja Residency, avenue 7, Street No. 4, Road No. 3, Banjara
Hills, Hyderabad 500034, Andhra Pradesh |
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Date of Birth/Age : |
20.08.1955 |
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Date of Appointment : |
09.01.2002 |
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Name : |
Mr. Subhas Chandra Saha |
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Designation : |
Director |
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Address : |
101, Srinilaya Enclave, Ameerpet, Hyderabad 500073, Andhra Pradesh |
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Date of Birth/Age : |
08.01.1959 |
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Date of Appointment : |
09.01.2002 |
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Name : |
Gautam Rampuria |
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Designation : |
Director |
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Address : |
30A, Oxley Road, Villa Madeleine, Singapore 238624 |
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Date of Birth/Age : |
06.03.1968 |
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Date of Appointment : |
26.09.2002 |
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Name : |
Mr. Nico LS Hans |
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Designation : |
Director |
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Address : |
27 Mt Faber Road, # 05 20 Mt Faber Lodge, Singapore 099200 |
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Date of Birth/Age : |
16.06.1959 |
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Date of Appointment : |
26.09.2002 |
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Name : |
Mr. Kuok Khong Hong |
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Designation : |
Director |
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Address : |
6, Queen Astrid Gardens, Singapore 266865 |
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Date of Birth/Age : |
30.04.1949 |
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Date of Appointment : |
26.09.2002 |
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Name : |
Mr. Kamlesh Kumar |
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Designation : |
Director |
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Address : |
130, Tanjong Rhu Road, BLK 4 # 04 -20, Singapore 436918 |
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Date of Birth/Age : |
24.02.1953 |
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Date of Appointment : |
24.06.2004 |
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Name : |
Mr. Martua Sitorus |
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Designation : |
Director |
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Address : |
JI. Uskup Agung Sp. No. 1, Medan, Indonesia |
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Date of Birth/Age : |
18.02.1960 |
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Date of Appointment : |
24.06.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Pradeep Kumar Chowdhry |
10 |
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Mr. Sunil Saraf |
10 |
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Mr. Satish Chennagiri Ramarao |
10 |
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Mr. Sudhakar Cheruvu |
10 |
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Mr. T K Vittal Raj |
10 |
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Mr.Mudda Kiran Shankar Reddy |
10 |
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M/s. Acalpo Wilmar Private Limited |
6049940 |
31.03.2006
Foreign Holding 100%
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Edible Oil and Oil Products |
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Products : |
Refined Vegetable Oils |
GENERAL
INFORMATION
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No. of Employees : |
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Bankers : |
State Bank of Mysore, Industrial Finance Branch, Myhome Jupally,
Ameerpet Road, Hyderabad - 500016 |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. Gopalakrishnan Chartered Accountant |
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Address : |
6-3-550, II Floor, L B Bhavan, Hyderabad 500082, Andhra Pradesh |
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Memberships : |
Nil |
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Collaborators : |
Nil |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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6050000 |
Equity Shares |
Rs. 10/- Each |
Rs. 60.500
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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6050000 |
Equity Shares |
Rs. 10/- Each |
Rs. 60.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
60.500 |
60.500 |
60.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
141.858 |
130.486 |
110.588 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
202.358 |
190.986 |
171.088 |
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LOAN FUNDS |
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1] Secured Loans |
383.697 |
418.319 |
383.494 |
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2] Unsecured Loans |
271.795 |
488.402 |
638.970 |
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TOTAL BORROWING |
655.492 |
906.721 |
1022.464 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
857.850 |
1097.707 |
1193.552 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
575.671 |
791.622 |
720.514 |
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Capital work-in-progress |
1.966 |
18.390 |
45.741 |
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INVESTMENT |
0.031 |
0.021 |
0.021 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
467.000
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912.900 |
1183.791 |
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Sundry Debtors |
472.303
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234.154 |
123.150 |
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Cash & Bank Balances |
24.347
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111.186 |
23.564 |
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Other Current Assets |
20.435
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3.038 |
0.765 |
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Loans & Advances |
202.884
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140.705 |
101.287 |
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Total
Current Assets |
1186.969
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1401.983 |
1432.557 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
903.880
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1112.661 |
1003.674 |
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Provisions |
2.907
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1.648 |
1.607 |
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Total
Current Liabilities |
906.787
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1114.309 |
1005.281 |
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Net Current Assets |
280.182
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287.674 |
427.276 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
857.850 |
1097.707 |
1193.552 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
7.085 |
5.868 |
4.308 |
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Other Income |
0.020 |
0.082 |
0.024 |
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Total Income |
7.105 |
5.950 |
4.332 |
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Profit/(Loss) Before Tax |
0.019 |
0.028 |
0.109 |
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Provision for Taxation |
0.007 |
0.008 |
0.039 |
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Profit/(Loss) After Tax |
0.012 |
0.020 |
0.070 |
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Expenditures : |
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Raw Material Consumed |
6.721 |
5.552 |
4.042 |
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Salaries, Wages, Bonus, etc. |
0.031 |
0.034 |
0.017 |
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Managerial Remuneration |
0.005 |
0.005 |
0.005 |
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Interest |
0.018 |
0.004 |
0.005 |
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Power & Fuel |
0.025 |
0.025 |
0.010 |
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Other Expenditure |
0.276 |
0.301 |
0.140 |
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Total Expenditure |
7.076 |
5.921 |
4.219 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total
Income |
(%) |
0.16
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0.33 |
1.61 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.26
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0.47 |
2.51 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
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0.00 |
0.01 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00
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0.00 |
0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.72
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10.58 |
11.85 |
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Current Ratio (Current Asset/Current Liability) |
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1.30
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1.25 |
1.42 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
ACALMAR OILS AND FATS LIMITED |
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1) Date and description of instrument creating the change |
Term Loan
26.07.2005 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Term Loan Rs.
75.000 Millions |
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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 |
First Charge on
the entire fixed assets of the company on pari passu with other lenders,
first mortage on land, of the company present and future ranking pari passu
with other term lenders of director of the company |
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4) Gist of the terms and conditions and extent and operation of the charge. |
For term loan of
Rs. 75.000 Millions Rate of Interest
SBM PTLR 2.50% (with a minimum of 8.50% payable Loan repayable in
20 quarterly installment of Rs. 3.750 Millions |
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5) Name and Address and description of the person entitled to the
charge. |
State Bank of Mysore, Industrial Finance Branch, Myhome Jupally,
Ameerpet Road, Hyderabad - 500016 |
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6) Date and brief description
of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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 Intl
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 companys 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.43.39 |
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UK Pound |
1 |
Rs.85.16 |
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Euro |
1 |
Rs.57.60 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
9 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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61 |
This score serves as a reference to assess SCs 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 |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
|
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 |
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