MIRA
INFORM REPORT
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Report Date : |
07.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
MARUTI MULTICHEM PRIVATE LIMITED |
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Registered Office : |
C-1/1211, Phase IV, B/H Gayatri Temple, GIDC Estate, Naroda, Ahmedabad
– 382330, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 [Maruti Multichem] |
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Date of Incorporation : |
19.07.2007 |
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Com. Reg. No.: |
51357 |
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CIN No.: [Company
Identification No.] |
U24110GJ2007PTC051357 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMM08344A |
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PAN No.: [Permanent
Account No.] |
AAFCM1508F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Dyes and Chemicals |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 26000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject has taken over the running business of erstwhile partnership
concern Maruti Multichem. Trade relations are fair. Business is active.
Payments are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Ghanshyam Narniwal |
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Designation : |
Accountant |
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Date : |
29.03.2008 |
LOCATIONS
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Registered Office : |
C-1/1211, Phase IV, B/H Gayatri Temple, GIDC Estate, Naroda, Ahmedabad
– 382330, Gujarat, India |
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Tel. No.: |
91-79-22818345 / 22812282 / 22810697 |
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Mobile No.: |
91-9824038433 |
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Fax No.: |
91-79-22820514 |
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E-Mail : |
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Website : |
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Area : |
704 sq. ft. [Owned] |
DIRECTORS
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Name : |
Mr. Prashant Ramgopal Gupta |
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Designation : |
Director |
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Address : |
53, Sarathi – 3, Behind Drive In Cinema, Memnagar, Ahmedabad – 380052,
Gujarat, India |
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Date of Birth/Age : |
28.11.1975 |
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Qualification : |
B. Chemical |
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Name : |
Mr. Viral Ramgopal Gupta |
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Designation : |
Director |
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Address : |
53, Sarathi – 3, Behind Drive In Cinema, Memnagar, Ahmedabad – 380052,
Gujarat, India |
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Date of Birth/Age : |
26.10.1983 |
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Qualification : |
MBA 1st Year |
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Name : |
Mr. Ramgopal R. Gupta |
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Designation : |
Director |
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Address : |
53, Sarthivibhag – 3, Memnagar, Ahmedabad – 380052, Gujarat, India |
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Date of Birth/Age : |
09.04.1950 |
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Qualification : |
Doctor |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 17.07.2007
|
Names of Shareholders |
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No. of Shares |
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Ramgopal Ramsahay Gupta – HUF |
|
242500 |
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Bhasha Ramgopal Gupta |
|
1250 |
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Prashant Ramgopal Gupta |
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1250 |
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Prakash Ramniwas Gupta |
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1250 |
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Viral Ramgopal Gupta |
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1250 |
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Manjari Prashant Gupta |
|
1250 |
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Pradeep Agrawal |
|
1250 |
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Total |
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250000 |
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Share Allotment List |
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No. of Shares |
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Shreedevi yatin Shah |
|
100 |
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Modern Chemical Corporation, Ahmedabad |
|
100 |
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Naresh Ramkumar Inani |
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100 |
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Prakashkumar Shuivkumar Lohia |
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100 |
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Geetaben R. Gupta |
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100 |
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Anil R. Gupta |
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100 |
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Sonal P. Gupta |
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100 |
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Ruchika A. Gupta |
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100 |
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Prashant R. Gupta – HUF |
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100 |
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Ramsahay M Agrawal – HUF |
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100 |
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Ramgopal R. Gupta – HUF |
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100000 |
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Total |
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101000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Dyes and Chemicals |
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Products : |
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Exports : |
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Products : |
Raw Material – Tobias Acid |
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Countries : |
China |
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Imports : |
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Products : |
Acidso, Synthetic Organic Dyes
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Countries : |
Pakistan, Bangkok, China, Bangladesh and Korea |
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Terms : |
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Selling : |
L/C and Cash |
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Purchasing : |
L/C and Cash |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
10 |
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Bankers : |
Bank of Baroda, Naroda Industrial Estate, GIDC Naroda, Ahmedabad –
382330, Gujarat, India |
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Facilities : |
Rs. 10.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P Prakash and Associates Chartered Accountants |
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Address : |
504, Sajanad Complex, Shahi
Baug, Ahmedabad |
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Tel. No.: |
91-79-25621950 |
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Associates/Subsidiaries : |
Gaurav Industry Private Limited C-1/1211, Phase IV, B/H Gayatri Temple, GIDC Estate, Naroda, Ahmedabad
– 382330, Gujarat, India |
CAPITAL STRUCTURE
Maruti Multichem
Private Limited
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/-
each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
MARUTI
MULTICHEM
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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6.554 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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6.554 |
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LOAN FUNDS |
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1] Secured Loans |
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2.780 |
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2] Unsecured Loans |
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7.892 |
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TOTAL BORROWING |
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10.672 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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17.226 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.965 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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14.261 |
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Inventories |
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8.690 |
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Sundry Debtors |
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10.113 |
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Cash & Bank Balances |
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0.135 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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3.702 |
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Total
Current Assets |
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22.640 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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8.242 |
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Provisions |
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0.137 |
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Total
Current Liabilities |
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8.379 |
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Net Current Assets |
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14.261 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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17.226 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.91 |
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Current Ratio (Current Asset/Current Liability) |
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2.70 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Jaysynth Dyes, Mumbai
- Tulsi Dyes, Mumbai
- Sai Export – Mumbai
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U24110GJ2007PTC051357 |
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Name of the
company |
MARUTI MULTICHEM PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
C-1/1211, Phase IV, B/H Gayatri Temple, GIDC Estate, Naroda, Ahmedabad
– 382330, Gujarat, India |
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Type of charge |
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Particular of charge
holder |
Bank of Baroda, Naroda Industrial Estate, GIDC Naroda, Ahmedabad –
382330, Gujarat, India |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
24.09.2007 |
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Amount secured by
the charge |
Rs. 40.850
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
on Cash Credit – Stock cum packing credit, cash credit cum FBP/FBD and Cash
credit under SME Gold card Scheme 1.00 % below i.e. 9.50 % p.a. with monthly
test present, subject to change as per credit rating and RBI / bank’s
guidelines issued from time to time. Terms of
Repayment Cash Credit –
Stock cum packing credit and cash credit – cum – FBP / FBD repayable within
12 months. Cash credit under
SEM Gold card Scheme repayable with in 12 months to be allowed on 4 occasions
during the year for a maximum period of 2 months on each occasion. As per sanction
letter loan to Maruti Multichem Private Limited Rs. 14.350 Millions and to
associate concern Gaurav Industries Private Limited Rs. 26.500 Millions Margin Margin on Cash
Credit [Stock] 25 % and on packing credit 10 % on FOB value. Margin on Cash
[Book Debts] 50 % Margin on FBP/FBD
and on cash credit under Gold Card Scheme is Nil Margin on Inland
/ Foreign Letter of Credit is 25 % by way of FDR / NSCs / Assignment of LIC
Policies Extent and
Operation of the charge As per deed of
confirmation of hypothecation agreement. As per deed of confirmation of
equitable mortgage. |
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 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.39.97 |
|
UK Pound |
1 |
Rs.79.78 |
|
Euro |
1 |
Rs.62.60 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
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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. |
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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