MIRA
INFORM REPORT
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Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
NUCHEM LIMITED |
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Registered Office : |
20/6, Mile Stone Mathura Road, Faridabad – 121006, Haryana |
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Country : |
India |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
08.08.1951 |
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Com. Reg. No.: |
001694 |
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CIN No.: [Company
Identification No.] |
L25209HR1951PLC001694 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKN01034F |
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PAN No.: [Permanent
Account No.] |
AACFN4428P |
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Legal Form : |
A Public Limited Liability Company. The Company’s Share are Listed on
the Stock Exchange |
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Line of Business : |
Manufacturer of Waste Water and Effluent
Treatment Systems |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 1300000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track.
Company’s profitability is under severe pressure. General financial position
is weak having good amount of accumulated losses. Payments are reported as
slow but delayed of times. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
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Registered Office/ R and D/ EMC Services : |
20/6, Mile Stone Mathura Road, Faridabad – 121006, Haryana, India |
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Tel. No.: |
91-129-2304000/ 6/ 4061040/ 41 |
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Fax No.: |
91-129-5305009/ 4061278 |
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E-Mail : |
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Website : |
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MDF Division : |
66, K M Stone, Hissar Tohana Road, Tohana – 125120, Haryana, India |
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Chemical/ EMC Project Division : |
54, Industrial Area, NIT Faridabad - 121 001, India |
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Tel No.: |
91-129-2234541/43/4021592 |
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Fax no.: |
91-129-2233895 |
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Email : |
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Marketing Office : |
E -46/12, Okhla Phase-II, New Delhi -110 020, India |
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Tel No.: |
91-11-26383234/ 26385737/ 41611847/ 41611848 |
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Fax no.: |
91-11-41611846 |
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Email : |
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Factory : |
66 Km, Hissar, Tohana Road, Tohana-126 119, India |
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Tel No.: |
91-1692-220696, 220967 |
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Mobile No.: |
91-9896396175 |
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Fax no.: |
91-1692-220941 |
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Email : |
DIRECTORS
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Name : |
Mr. K N Vaid |
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Designation : |
Chairman |
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Name : |
Mr. Arun Barar |
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Designation : |
Managing Director |
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Name : |
Mr. P. P Khanna |
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Designation : |
Director |
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Name : |
Mr. R K Jain |
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Designation : |
Director |
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Name : |
Mr. Anil Kumar |
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Designation : |
Director |
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Name : |
Mr. U K Sharma |
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Designation : |
Director |
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Name : |
Mr. N K Duggal |
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Designation : |
Nominee Director (IFCI) |
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Name : |
Mr. Prathemesh Barar |
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Designation : |
Executive Director |
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Name : |
Mr. Autar Singh |
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Designation : |
Additional Director |
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Name : |
Mr. Ajay Baijal |
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Designation : |
Director |
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Name : |
Mr. Gurmit Shoor |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. B J Shah |
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Designation : |
Company Secretary |
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Name : |
Mr. B J Shah |
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Designation : |
Vice President (Finance) and Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2007|)
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Promoter and Promoter Group |
2881450 |
9.97 |
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FIs, Banks/ FIIs and Mutual Funds |
1092838 |
3.78 |
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Private Corporate Bodies |
4955966 |
17.14 |
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NRI’s/ OCB’s |
770615 |
2.67 |
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Indian Public |
19214602 |
66.44 |
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Total |
28915471 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Waste Water and Effluent
Treatment Systems |
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Brand Name : |
‘NUWUD' |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Facilities : |
Out of Fixed Assets, Repayable within one Year – 31.057 Millions NOTES: 14% - 150,000 Non Convertible Debentures and 14% - 220,000 Secured Partly Convertible Debentures are privately placed with Unit Trust of India (UTI) redeemable in 19 quarterly installments during the period 2003 to 2007. However, the company and Axis have reached at an OTS agreement. The balance OTS amounts have also been paid after the balance sheet date. The Debentures/ Term Loans marked are secured by an equitable mortgage, created or to be created, on immovable properties at Faridabad and Tohana. These loans and debentures except mentioned at Serial A(a) (ii) have also been charged by way of hypothecation of all movable assets, both present and future, of Faridabad and Tohana Units save & except book debts, stock & stores specifically charged to Company's Bankers. The charges created or to be created shall rank paripassu inter-se. The debentures mentioned at Serial A(a) (i) above are also secured inter-alia by a first legal mortgage in English form on all the immovable and movable properties of' the company situated at Mouja Dhanot, Taluka Kalol, Distt. Mehsana in Gujarat. The Non Converted portion of partly convertible debentures and the working capital facilities mentioned at A(b) and B(a) (i) & (ii) respectively are further secured by way of second charge created or to be created over the fixed assets of the company both present & future. Working capital facilities from banks are secured by hypothecation of stocks and book-debts and second charge mentioned at (vi) above. The loans from Banks are also guaranteed by Working Directors in their personal, capacity.
Other loans from Banks are secured against specific assets financed through such loans.
NOTE: Out of Fixed Assets, Repayable within one Year – 5.060 Millions |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
D S Talwar and Company Chartered Accountant |
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Name : |
S S Kothari Mehta and Company Chartered Accountant |
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Subsidiaries Company : |
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Associates : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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68000000 |
Equity Shares |
Rs.10/- each |
Rs.680.000 Millions |
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700000 |
10% Cumulative Preference Share |
Rs.100/- each |
Rs.70.000 Millions |
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2500000 |
15% Cumulative Preference Share |
Rs.100/- each |
Rs.250.000 Millions |
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Total |
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Rs.1000.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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28915471 |
Equity Shares |
Rs.10/- each |
Rs.289.155 Millions |
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Less: Calls in Arrear |
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Rs.0.084
Millions |
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Total |
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Rs.289.071 Millions |
Note:
Of the above Equity Shares 649450 Shares were allotted
as fully paid up by way of Bonus Shares by Capitalisation of Reserves.
FINANCIAL DATA
[all figures are in Rupees Millions]
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ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
30.09.2007 (12 Months) |
30.09.2006 (12 Months) |
30.09.2005 (15 Months) |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
289.071 |
289.071 |
289.100 |
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2] Equity Shares |
7.500 |
7.500 |
0.000 |
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3] Preference Shares |
1.007 |
16.512 |
0.000 |
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4] Reserves & Surplus |
113.002 |
135.596 |
0.000 |
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5] (Accumulated Losses) |
(145.932) |
(144.410) |
(42.300) |
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NETWORTH |
264.648 |
304.269 |
246.800 |
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LOAN FUNDS |
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1] Secured Loans |
374.199 |
476.492 |
556.800 |
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2] Unsecured Loans |
83.930 |
82.406 |
58.200 |
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TOTAL BORROWING |
458.129 |
558.898 |
615.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
722.777 |
863.167 |
861.800 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
280.171 |
305.234 |
320.000 |
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Capital work-in-progress |
22.800 |
34.434 |
25.500 |
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INVESTMENT |
40.064 |
40.076 |
40.100 |
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DEFERREX TAX ASSETS |
136.216 |
115.312 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
319.069
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292.896 |
293.900 |
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Sundry Debtors |
265.531
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244.914 |
188.000 |
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Cash & Bank Balances |
64.134
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34.910 |
53.700 |
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Other Current Assets |
40.587
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54.066 |
0.000 |
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Loans & Advances |
102.839
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147.838 |
386.100 |
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Total
Current Assets |
792.160
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774.624 |
921.700 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
548.634
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406.513 |
442.500 |
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Provisions |
0.000
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0.000 |
3.000 |
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Total
Current Liabilities |
548.634
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406.513 |
445.500 |
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Net Current Assets |
243.526
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368.111 |
476.200 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
722.777 |
863.167 |
861.800 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
30.09.2007 (12 Months) |
30.09.2006 (12 Months) |
30.09.2005 (15 Months) |
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Sales Turnover |
1027.813 |
837.210 |
1520.500 |
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Other Income |
36.129 |
18.699 |
16.100 |
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Total Income |
1063.942 |
855.909 |
1536.600 |
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Profit/(Loss) Before Tax |
(55.612) |
(58.259) |
(47.700) |
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Provision for Taxation |
(17.616) |
(6.501) |
8.400 |
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Profit/(Loss) After Tax |
(37.996) |
(51.758) |
(56.100) |
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Export Value |
1.723 |
NA |
NA |
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Expenditures : |
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Materials and Manufacturing Expenses |
615.417 |
505.501 |
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Personnel |
138.220 |
116.221 |
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Administrative Expenses |
69.882 |
50.107 |
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Financials |
85.804 |
84.618 |
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Selling Expenses |
40.312 |
36.824 |
1584.300 |
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Depreciation |
0.000 |
0.000 |
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Increase/(Decrease) in Finished Goods |
(3.417) |
(8.801) |
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Other Expenses |
173.336 |
129.698 |
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Total Expenditure |
1119.554 |
914.168 |
1584.300 |
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SUMMARISED RESULTS
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PARTICULARS |
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30.09.2008 (Full Year) |
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Sales Turnover |
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893.700 |
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Other Income |
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9.000 |
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Total Income |
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902.700 |
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Total Expenditure |
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917.200 |
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Operating Profile |
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(14.500) |
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Interests |
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9.2200 |
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Gross Profit |
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(106.700) |
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Depreciation |
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44.300 |
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Tax |
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|
2.700 |
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Reported PAT |
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(153.700) |
KEY RATIOS
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PARTICULARS |
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30.09.2007 (12 Months) |
30.09.2006 (12 Months) |
30.09.2005 (15 Months) |
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PAT / Total Income |
(%) |
(3.57)
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(6.05) |
(3.65) |
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Net Profit Margin (PBT/Sales) |
(%) |
(5.41)
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(6.96) |
(3.14) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(5.19)
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(5.40) |
(3.84) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.21)
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(0.19) |
(0.19) |
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Debt Equity Ratio (Total Liability/Networth) |
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3.84
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3.17 |
4.30 |
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Current Ratio (Current Asset/Current Liability) |
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1.44
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1.91 |
2.07 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
Promoted by R C Barar, Subject is known for its presence in chemicals, medium-density fibre boards and engineering. The new product MDF developed by the company offers an effective substitute for wood. This will go a long way in conserving forests.
The chemicals division of Subject was established in 1955 to manufacture urea
and melamine formaldehyde moulding powder for the first time in India. Today,
it also manufactures UF resins, formaldehyde, hexamine and para-formaldehyde
and provides know-how and assistance to other entrepreneurs. It also undertook
turnkey projects to set up formaldehyde and hexamine plants. It has
successfully set up three such plants, two in India and one abroad. Further, it
supports the MDF division by meeting its total requirement of binders.
Subject’s MDF division produces the nearest substitute for wood from
agro-waste, known as Nuwud. The plant, commissioned in Mar.'92 at Mohana,
caters to both the domestic and international markets. At present, it exports
MDF to Japan, the UAE, Srilanka and Mauritius. The company expanded its MDF capacity
by about 80,000 tpa by setting up another plant at Bhatinda.
In Jan.'91, Nuchem Machine Tools (NMTL), a subsidiary, took over the entire
business operations of Nuchem's engineering division. This division
manufactures transfer moulding presses, powder compacting presses, up-stroke
and multi-daylight hydraulic presses and a variety of other speciality presses,
ranging between 10 tonnes and 3000 tonnes.
Subject Weir, a joint venture with Weir, is the only company in India (and one
of the select few in the world) that offers the complete range of desalination
technologies, namely electro-dialysis, reverse osmosis, MSF distillation and
thermo-compression distillation.
REVIEW OF
OPERATIONS:
The directors have been reviewing the performance of various business
operations of the company from time to time. A gist of management discussion
and analysis report has been separately given as part of the Annual Report in
this behalf.
TERM DEPOSITS:
It may be recalled that because of the liquidity problems being faced by the
company during 1996, it had approached the Hon'ble Company Law Board (CLB),
Northern Region Bench, New Delhi for re-schedulement of repayments of principal
amounts of deposits and interest thereon. In pursuance of their request, the
CLB vide its Order No. 15/119/96-CLB dated May 20, 1997 had approved repayment
of deposits in a phased manner from 1.4.97 to 30.6.99. However, as stated in
earlier reports, many depositors initiated legal actions in various Courts/
Consumer Forums instead of surrendering the post-dated cheques to the company
as required under CLB Order. In such cases, the company was forced to make full
payment of even principal amounts, apart from higher/ penal interest and other
legal costs, under the Orders of these Courts. Moreover, due to then prevailing
slowdown of the economy, heavy losses were being incurred by the company. These
facts were brought to the notice of the CLB with a request for appropriate
remedial action. However, the ROC initiated legal actions against the company
in August 98 i.e. even before expiry of last date of payment on 30.6.99 as
stipulated under the CLB Order. Since then, the matter is sub-judice.
The company has not accepted any fresh deposits from. the date, the CLB Order
became operative in 1997. On the other hand, it has been making all possible
efforts for payment to the depositors, consequently the dues of depositors have
reduced to a large extent. These efforts were intensified progressively so as
to settle the dues of the depositors as expeditiously as feasible for the
company. In the process, the Company once again suo moto had approached the
Hon'ble CLB seeking revision of the earlier scheme, so as to enable it to
fulfill its obligations to the depositors in a more orderly manner and
inter-alia to provide for payments in hardship cases on a monthly basis. The
Hon'ble CLB has revised the scheme in terms of its Order No.25/1/2005-CLB dated
10.6.2005, envisaging payment to depositors over a period of four years
effective from 1.10.2005, which was duly communicated to the depositors. This
reaffirms the company's commitment to fulfill all its obligations to the valued
depositors in terms of the aforesaid CLB Order. In view of the total revision
of the. scheme of payment earlier approved vide the Order of CLB dated
20.5.1997, under the said revised Order dated 10.6.2005, on the application of
the company, the Court has adjourned the matter sine die.
RESEARCH & DEVELOPMENT
(R&D):
SPECIFIC AREAS IN WHICH R&D CARRIED OUT IN THE COMPANY:
- Modification in the process of
manufacture of Moulding Powders to produce specific grades as per
requirement of customers. This resulted in development of new grades for
export of the product.
Identification & utilisation of new agro based fuels for operating the 4MW power generation plant at Tohana.
Utilization of cow dung along with other fuels to reduce power generation cost.
Tie up with Canadian based company to manufacture & sell packaged sewage treatment plants with no ODOUR and very small area requirement. This will enable commercial building to recycle water from sewage.
FUTURE PLAN OF ACTION:
Low Density and higher internal bond strength, medium density fibre board
products having very low formaldehyde emission shall be taken up for pilot
trial runs and manufacturing trials. Environmental Projects in the field
of Environment Impact Assessment Studies shall be taken up.
Thermosetting polymeric compositions of urea formaldehyde and phenol
formaldehyde will be developed for export opportunities. Setting up of MBR
Membrane pilot plant to recycle water from sewage will be taken up for
technology upgradation.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
The company has diverse businesses under its portfolio i.e Panel boards. Thermoset
resins and moulding compounds and Effluent treatment plants/ projects and
services. The Management has been periodically reviewing the performance of
these business activities. A gist of discussions and analysis for the year is
given below:
ENVIRONMENT MANAGEMENT CENTRE - SERVICES (EMC-S):
Environmental issues such as quality of air, water and ground pollution, waste
recycling, solid waste management, industrial and hazardous wastes have become
the front rank concerns of policy makers as well as industry and people in
general. The company also this has thrown up several new business opportunities
in the area of testing, providing solutions to the problems. The EMC-S is alive
to all such opportunities and has developed a business plan to extend itself
beyond testing and certification work of the traditional type to Environment
Impact Assessment and Consultancy. These services will not only further
strengthen the company's services businesses, but also take it on to a path of
growth in the areas of large business opportunities in future. As you. are
aware, one such' opportunity has been taken-up aggressively by the company.
i.e. use of knowledge and technology developed by the Company in treatment of
effluents, especially sewage.
In line with its growth plans it has also received accreditation from National
Accreditation Board for Testing and Calibration Laboratories (NABL) and various
pollution control boards at the state level, this should further help in
getting both private as well as government sponsored projects in areas of its
operations.
ENVIRONMENT
MANAGEMENT - PROJECTS:
As mentioned above, the Company apart from its work of testing and
certification, has fair amount of expertise in treatment of effluents of
various industries and has started aggressively converting this expertise by
taking project orders on turnkey basis for setting-up plants for effluent
treatment from various large customers.
The Company had successfully executed a project of Birla Copper (a Hindalco
unit), Dahej for value of Rs.54.000 Millions. Further, it also bagged three
effluent treatment plant orders for value of approximately Rs.159.600 Millions
at Tirupur, Tamil Nadu along with consortium of other companies and consultants
led by M/s. BGR Energy Systems (formerly GEA Energy Systems (GEA) as well as
further orders for 2 plants at Tirupur for a value of Rs.284.900 Millions in a
consortium with M/s Metax Engineering Corporation, Singapore. These plants are
at an advanced stage of completion and will be handed over to the customers in
the next few months.
With successful commissioning of these 6 plants the company now has sufficient
expertise and customer reference list to go aggressively after this business in
a big way. The Company has quoted for some more similar turnkey projects for
effluent treatment plants (active enquiries of approx. Rs.1000.000 Millions)
and hopes to make significant progress in this area in the times to come as
expected business opportunities in this area could be around Rs.50000.000
Millions in next 4-5 years. This according to the management would open up huge
business possibilities in future both nationally and in due course of time
internationally, especially with water becoming a scarce resource, the need for
industry to recycle effluents as well as social pressures on. Industry to
properly treat its effluents before discharge would increase
tremendously.
MDF
DIVISION:
The panel board industry is growing rapidly due to large demand for both
housing and commercial infrastructure needs and with automation coming into the
wood working and conversion industry hitherto an area reserved for small scale
and the domain of carpenters, use of MDF and Particle boards, is starting to
pick up rapidly. The production and sales in terms of value went up during the
year under review. As mentioned last year, there is lot of imports coming in
under FTA (Free Trade Agreement areas) from SAARC and ASEAN countries and
continuing lowering of duties under WTO agreements, has been putting tremendous
pressures on the margins of the division. However, the company successfully
continues to .hold on to its market share.
The costs of both petroleum based raw materials as well as agro based materials
have been moving up sharply, putting further strain on operating margins of the
product. The Company continues to look at various methods of cost reduction by
way of energy savings, substitution of wood based raw materials with other
cellulosic materials to reduce its costs. It has also been able to increase its
selling prices for the first time in last 3-4 years to pass on the variable
cost increases. Chemical Division
Chemical's operations, Urea Formaldehyde Moulding Powders markets, continued to
remain under stress due to inroads made by newer materials like Polycarbonate
etc. as also because of very large gap between demand & supply of Urea
Formaldehyde Moulding Powders due to a large number of small scale units coming
up into production and as reported last year, some of the consuming industries
shifting to excise exempt areas like Himachal and Uttaranchal etc. These
companies continue to favour, in spite of not up to the mark quality; purchase
of moulding powders from small scale units where excise is not being paid by
moulding powder producers.
The management is seized of the matter and is planning steps including large
expansion of capacities to achieve better economies of scale, cost reduction
measures and development of new grades i.e. Injection Moulding and EX grades
for markets of moulding powders, to regain the sales volumes. They are actively
working with some MNC producers who have in last 2 years been shifting their
moulding bases to India and have given successful trials of the powder to them.
Their is the only unit in India producing OF Moulding powder who has both a BIS
certified product and ISO rating for the Chemical business in this product.
This entry of MNCs and the ability to provide them international quality powder
should help the company to not only stabilise but move up in volume game in the
market place.
FINANCIAL PERFORMANCE:
The operations have resulted into losses during the year. The continuing sharp
fluctuation in input cost of materials like Wood, Agro fuels and Petroleum
products i.e. Methanol has kept the pressure on margins this year. The efforts
to increase the prices met with partial success and only part of the input cost
increase could be met leaving a large portion uncovered.
The directors are happy to report that the company has been able settle all its
High Cost Term Debt through a negotiated OTS with 6 of its 7 term lenders. IFCI
has restructured the loans with lowering of interest rates and the company is
servicing the same regularly. They have also offered an OTS to Punjab and Sind
Bank who has a small term debt and hope to settle it shortly. This will help
the company to go in for aggressive capitalisation to increase its capacities
in the areas of existing businesses as well as for putting up value addition
lines in MDF and increase the revenues coming from new businesses i.e. EMC-P
and EMC-S.
FIXED
ASSETS:
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Office Equipment
- Vehicles
- Library
WEBSITE DETAILS:
COMPANY PROFILE:
Subject environmental friendly diversified Company having its
registered head office at Faridabad, Haryana. One of the ISO 9001:2000
certified Companies, company nearly 1000 employees, over 45,000 shareholders
and 800 trade associates.
Subject is a technology driven chemical engineering Company
that uses a variety of chemical processes to produce primary materials that go
into the manufacture of numerous products consumed by other industries:
electrical, building & construction, lamination, pharmaceuticals,
furniture, artifacts, consumer durables such as kitchen and tableware, machine
building etc. Being a major player in the field of environment management and
water, all its products conform to IS Standards and the corresponding British
and American Standards.
Subject is a pioneer in manufacturing urea & melamine
formaldehyde moulding powders. It is also the market leader in manufacturing
and marketing of MDF in India under the brand `NUWUD'. It has India's largest
agro & plantation based MDF manufacturing facility situated at Tohana,
Haryana with installed capacity of 60,000 m3.
Subject is among India's companies providing Waste Water and
Effluent Treatment Systems. It specializes in removal of dissolved salts in
water using advanced Membrane based technologies, seawater Reverse Osmosis
Desalination sewerage recycling and STP/ETP technologies are its forte. Subject
is firmly established in the forefront of desalination industry in India and is
one of the few Companies in the world to successfully manufacture highly
selective electro dialysis membranes.
The emphasis on growth through research and innovations has
always reflected in subject philosophy. Its R&D Centre was setup in 1973
and is fuelled by an efficient team of well qualified scientists and
technologists. The R&D Centre boasts to its fourteen patents and is
regarded as the leading testing labs in Northern India.
CHEMICAL DIVISION
The Chemical Division of Subject was established in 1955 for
the manufacture of Urea & Melamine Formaldehyde Moulding Powders for the first
time in India. Today the division also manufactures UF Resins &
Formaldehyde.
The excellent reputation subject enjoys nationwide is not
only due to its diverse, high quality product mix, but also largely due to a
constant effort to build up a strong technological base of well integrated
product lines on the formaldehyde base. A large capacity of Formaldehyde
production has given company the ability to cater to bulk requirements even in
an emergency.
Not only does the division make a variety of chemicals, it
also provides know-how to other entrepreneurs. Committed to entrepreneurial
development as an objective, the division has assisted entrepreneurs to set up
successful projects. The division also undertakes turnkey projects for setting
up Formaldehyde and Hexamine plant and has set up three such successful
operative plants in India and one abroad.
In catering to the evergrowing list of customers the accent
is on providing excellent technical, commercial and after sales services.
Efficient distribution system by nationwide branches/warehouses in another part
of the marketing mix. The customer profile of the Chemical Division is
essentially a listing of the leaders in their fields plywood manufacturers,
electrical accessories & electronic component makers, tyre & tube
manufactures, explosive, thermosetting resins manufacturers, leaders in paper,
textile industry and tableware/ crockery manufacturers of repute.
Subject – Chemical Division is in process to reach out
world's consumers for its products directly to play an active role in global
market.
NUWUD MDF DIVISION
Subject established in 1996, India's largest agro and
plantation based Medium Density Fibreboard manufacturing plant with technology
bought from. Sunds Defibrator AB, Sweden. The plant is situated at Tohana
(Haryana State) and has an installed capacity of 60,000 m3 per year. The plant
uses state-of-the-art technology.
NUWUD MDF is a timber substitute product and saves forest
resources. The Tohana plant alone, helps preserve as much as 14,000 hectares of
precious forest every year. It is used in building & construction industry,
furniture making industrial applications in dozens of forms and in handicraft
sector. The product is sold by NUWUD Marketing organization headquartered in
New Delhi having a network of branch offices across the country.
Both the manufacturing plant and the marketing organization
are manned by teams of talented, high calibre and dedicated personnel and have
been granted ISO 9001-2000 certificate.
ENVIRONMENT MANAGEMENT CENTRE
In 1976, Subject established the Environment Management
Centre (EMC) as a business Division of the Company. The task enfolds:
- To provide environmental services, basically the analytical and treatment
solutions to the environmental problems faced by industrial enterprises,
government bodies and other technical agencies
- To take up environment management projects: water treatment, waste
water management, recycling of sanitary, urban and industrial waste and
building capacity for effective water management and service delivery
- To conduct applied and application research for process
upgradation, product improvement, innovating new techniques and products
for subject and other sponsors
These three tasks have been converted into separately
dentifiable performing units which are called:
- EMC Services
- EMC Projects
- R&D Centre
Each unit has its independent Chief and professionals
specialized and experienced in both technical & business personnel.
The EMC is recognized as a 'Scientific and Industrial
Research Organization-SIRO' by DSIR, Ministry of Science and Technology,
Government of India. Being a part of subject the EMC is a ISO 9001-2000
Certified unit. It is also an 'Approved' Test House for certification by:
- Ministry of Environment & Forests (MOEF), Government of India
(For EIA studies and other related work)
- Haryana State Pollution Control Board
- U.P.State Pollution Control Board.
EMC SERVICES
This wing is dedicated to provide analytical and treatment
solutions to the environmental problems faced by industrial enterprises,
government bodies and other technical agencies. It enrolls in the study,
examination, investigation, dissection, scrutinisation and evaluation of every
aspect of the project undertaken. Through its technical expertize, innovation
and professional integrity, EMC is an undisputed leader as a Test House in
North India.
The core services provided by EMC Services are:
- Environment Monitoring and certification
- Environmental consultancy
- On-line services to public agencies, local bodies, NGOs and
enterprises.
All work/output of EMC conforms of the IS standards of
Bureau of Indian Standards, Standards of the American Public Health Association
(APHA) and the Standard Methods of Chemical Analysis (SMCA).
EMC Projects
EMC projects organization is the contracting and project
management arm of subject in the areas of desalination, water treatment,
recycling of urban and industrial wastes, waste water management, etc. The projects
contracted are designed, engineered, supplied, installed and commissioned, thus
a turn-key job. The projects done in the water management field involves:
- To purify water for applications as varied as drinking water for
homes, villages, residential complexes, institutions, industries, cooling
towers, furnaces and packaged bottled water and
- To recover pure water from raw sewage for industrial applications.
EMC projects organization comprises a dedicated team of
highly qualified and experienced scientists, engineers, project managers, cost
engineers and constructors. A band of super-specialists are on the panel of
consultants and available as required.
Nuchem Group has successfully designed, engineered,
manufactured, erected and commissioned more than 600 Reverse Osmosis based
Water Treatment Plants with installed plant capacity of over 50 million litres
of water per day all over the country. One of the largest sewage reclamation
plants of 14.4 MLD, using the reverse osmosis process, in Asia was commissioned
by us in 1993. The plant has become an international benchmark for design of
such plants and is one of the most successful installations in the world in
terms of reverse osmosis technology. This was followed by the successful
installation of a sea water reverse osmosis plant in Gujarat in 1994.
Riding on the success of these installations another large
sewage reclamation plant starting from raw sewage and treatment through reverse
osmosis was commissioned by us for GMR Vasavi Power Corporation Private
Limited, Chennai in 1998. The plant processes 7.2 MLD of sewage per day. A
unique feature of the plant is that it is located in a highly populated area
but there is virtually no foul odor from the plant as is normally expected from
sewage treatment plants. Nuchem Group has been successfully operating and
maintaining this plant for the client since its commissioning till date.
Nuchem Group has now gained recognition as a world class
supplier of technology for recycling of all types of effluents. While an
effluent recycling plant of capacity 4600 m3/day has been set up in 2005 for
Birla Copper, Dahej, Gujarat, we have also been awarded contracts for setting
up three Effluent Recycling Plants from textile effluent in the Tirupur belt.
Each plant is designed to process 4.5 MLD of raw effluent. The plants are
designed to use a combination of ultra filtration and reverse osmosis
technologies to produce pure water which will be recycled back to the industry.
NEWS:
International Trading
In our pursuit of diversification we have recently
introduced a new range of decorative laminates under the brand name NULAM.
EMC Services
Following on the heels of environment monitoring study
carried out successfully at Sahara Amby Valley project near Lonavala, Maharashtra,
our EMC Services has won the contract from NTPC for monitoring and assessment
of ambient air, drinking water, waste water and flue gas emission quality in
Faridabad area.
EMC Laboratory has been granted renewal of recognitions by
Haryana State Pollution Control Board, UP State Pollution Control Board and
Ministry of Environment and Forest, Government of India Chemical Division -
Raising Bar to International Standard We have successfully developed an import
substitute of the UF Moulding Powder which conforms to international standard
of quality and colour parameters.
NUWUD MDF Division
Tow Platinum rated green buildings use NUWUD MDF - ITC &
Wipro Technologies at Gurgaon, India
R&D Centre
R&D Centre received recognition by Department of Scientific
& Industrial Research, Ministry of Science & Technology, Govt. of India
ISO 9001-2000
Nuchem achieves ISO 9001-2000 certification
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.49.90 |
|
UK Pound |
1 |
Rs.74.30 |
|
Euro |
1 |
Rs.63.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
52 |
|
OPERATING SCALE |
1~10 |
|
|
FINANCIAL CONDITION |
|
5 |
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|