BUSINESS INFORMATION REPORT
1. Summary Information
|
Company Name |
EMERALD ALCHYMICUS PRIVATE LIMITED |
Principal Name 1 |
MRS. SHRADHA K. KARKHANIS |
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Status |
MODERATE |
Principal Name 2 |
MR. VIJAY R. BIWALKAR |
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Street Address |
705, The Corporate Centre, Nirmal
Lifestyles, LBS Marg, Mulund (West), Mumbai – 400 080, Maharashtra, India |
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Established Date |
08.01.2003 |
SIC Code |
-- |
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Telephone# |
91-22-25628060 / 61 / 62 |
Business Style 1 |
MANUFACTURING |
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Fax # |
91-22-25628066 |
Business Style 2 |
-- |
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Homepage |
Product Name 1 |
NON-PHARMA PRODUCTS |
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# of employees |
12 |
Product Name 2 |
PHARMA
PRODUCT |
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Paid-up capital |
Rs.12843000 |
Product Name 3 |
-- |
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Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS (100%) |
Banking |
THE NORTH KANARA G S B CO-OPERATIVE BANK
LIMITED |
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Public Limited Corp. |
No |
Business Period |
5 Years |
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IPO |
No |
International Ins. |
-- |
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Public Enterprise |
No |
Rating |
B |
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Related Company |
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Relation |
Country - India |
Company Name |
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Note |
- |
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2. Summary
Financial Statement
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Balance Sheet as of |
31.03.2007 |
(Unit: Indian Rs.) |
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Assets |
Liabilities |
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Current Assets |
23627000 |
Current Liabilities |
8545000 |
|
Inventories |
16679000 |
Long-term Liabilities |
25803000 |
|
Fixed Assets |
15097000 |
Other Liabilities |
481000 |
|
Deferred Assets |
000 |
Total Liabilities |
34829000 |
|
Invest& other Assets |
4292000 |
Retained Earnings |
23000 |
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|
Net Worth |
24866000 |
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Total Assets |
59695000 |
Total Liab. & Equity |
59695000 |
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Total Assets (Previous Year) |
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P/L Statement as of |
31.03.2007 |
(Unit: Indian Rs.) |
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|
Sales |
63764000 |
Net Profit |
2635000 |
|
Sales(Previous yr) |
34517000 |
Net Profit(Prev.yr) |
203000 |
MIRA
INFORM REPORT
|
Report Date : |
12.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EMERALD ALCHYMICUS PRIVATE LIMITED |
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Registered Office : |
705, The Corporate Centre, Nirmal Lifestyles, LBS Marg, Mulund (West),
Mumbai – 400 080, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.01.2003 |
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Com. Reg. No.: |
138599 |
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CIN No.: [Company
Identification No.] |
U24100MH2003PTC138599 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, formulators, processors, producers, makers, buyers,
sellers, resellers, importers, exporters, distributors, suppliers,
fermentors, distillers, refiners, stockiests, agents, merchants, developers,
consultants and dealers in all types, forms and of all kind of chemicals,
acid, alkalies, tannis, tannis extracts, solvents, dyestuffs, dyes, pigments,
colours, speciality chemicals, etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
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 120000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profit margin
is under severe pressure. Payments are reported as slow but correct The company can be considered for small to mediocre business dealings at
usual trade terms and conditions |
LOCATIONS
|
Registered Office : |
705, The Corporate Centre, Nirmal Lifestyles, LBS Marg, Mulund (West),
Mumbai – 400 080, Maharashtra, India |
|
Tel. No.: |
91-22-25628060 / 61 / 62 |
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Fax No.: |
91-22-25628066 |
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E-Mail : |
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Website : |
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Factory : |
07, M-17, M-18, Rajalaxmi Commercial Complex, Kalher Bhiwandi Road,
District Thane, Maharashtra, India |
|
Tel. No.: |
91-252-2276167 |
DIRECTORS
|
Name : |
Mrs. Shradha K. Karkhanis |
|
Designation : |
Director |
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Address : |
B-1106, Kalinga, Nirmal Nagar, Link Road, Mulund (West), Mumbai – 400
080, Maharashtra, India |
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Date of Birth/Age : |
12.08.1966 |
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Qualification : |
B. Com. |
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Date of Appointment : |
08.01.2003 |
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Name : |
Mr. Vijay R. Biwalkar |
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Designation : |
Director |
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Address : |
Flat No. 401/402, 2A Dheeraj Enclave, Ciba Road, Goregoan (East),
Mumbai – 400 069, Maharashtra, India |
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Date of Birth/Age : |
20.04.1966 |
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Qualification : |
B. Com. |
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Date of Appointment : |
08.01.2003 |
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Name : |
Mr. Shantinath V. Jha |
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Designation : |
Director |
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Address : |
2503, Challenger – II, Thakur Village, Kandivali (East), Mumbai – 400
107, Maharashtra, India |
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Date of Birth/Age : |
03.08.1944 |
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Date of Appointment : |
08.01.2003 |
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Name : |
Mr. Prashant B. Nachane |
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Designation : |
Director |
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Address : |
708, Kumar Co-operative Housing Society, Mahada layout, Navghar Road,
Mumbai – 400 058, Maharashtra, India |
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Date of Birth/Age : |
30.06.1978 |
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Qualification : |
B. Sc. |
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Date of Appointment : |
23.02.2004 |
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Name : |
Mrs. Anjali R Mate |
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Designation : |
Director |
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Address : |
201 Reyn Basera, B Wing, 24 Wallab Nagar, N S Road No. 4, Near Kupre
Hospital, Vile Parle (West), Mumbai – 400 056, Maharashtra, India |
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Date of Birth/Age : |
24.10.1956 |
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Date of Appointment : |
08.01.2003 |
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Name : |
Mr. Amol Prabhakar Desai |
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Designation : |
Director |
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Address : |
R 2/8 Govardhangiri Bangur Nagar, Goregaon (West), Mumbai – 400 090,
Maharashtra, India |
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Date of Birth/Age : |
12.04.1962 |
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Date of Appointment : |
21.09.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Shradha K. Karkhanis |
137300 |
|
Vijay R. Biwalkar |
25100 |
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Shantinath V. Jha |
690000 |
|
Anjali R Mate |
100000 |
|
Shantinath V. Jha HUF |
60000 |
|
Umesh Rao |
40000 |
|
Vilas J Deshpande |
44000 |
|
Vilas J Deshpande HUF |
34200 |
|
Shyamsunder Karkhanis |
34500 |
|
Shyamsunder Karkhanis HUF |
22500 |
|
Rajesh Patankar |
35000 |
|
Jayant Deshpande |
4500 |
|
Ketan Karkhanis HUF |
16500 |
|
Jayant Deshpande HUF |
10000 |
|
Prashant B. Nachane |
27000 |
Equity share
breakup (percentage of total equity)
(As on
30.09.2007)
|
Category |
Percentage |
|
Directors or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, formulators, processors, producers, makers, buyers, sellers,
resellers, importers, exporters, distributors, suppliers, fermentors,
distillers, refiners, stockiests, agents, merchants, developers, consultants
and dealers in all types, forms and of all kind of chemicals, acid, alkalies,
tannis, tannis extracts, solvents, dyestuffs, dyes, pigments, colours,
speciality chemicals, etc. |
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Products : |
Non-Pharma Products ·
Acrylic Resins – Uracron/Uramex/Uralac – DSM Holland Make ·
Polyisocyanaje Bioret – Tolonate ·
Rhodia – France Make ·
Degussa Speciality Products and other local products Pharma Product ·
Chinese Brand |
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Agencies Held : |
DSM Coating Resins Europe B. V. Holland |
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Exports : |
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Countries : |
Sri Lanka |
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Imports : |
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Countries : |
Holland China |
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Terms : |
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Selling : |
Credit (60 to 90 days) |
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Purchasing : |
L/C or Credit (90 days) |
GENERAL
INFORMATION
|
No. of Employees : |
12 |
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Bankers : |
·
The North Kanara G S B Co-Operative Bank Limited Alps Height,
Ground Floor, Off Dr. R P Road, Mulund (West), Mumbai – 400 080, Maharashtra,
India ·
Cosmos Co-operative Bank Limited ·
Axis Bank, Mulund (West), Mumbai, Maharashtra ·
State Bank of India ·
ICICI Bank ·
Syndicate Bank |
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Facilities : |
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Banking
Relations : |
Moderate |
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Auditors : |
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Name : |
Udai S Parmar Chartered Accountants |
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Address : |
9/6 Mukand Housing Society, Mulund, Mumbai – 400 081, Maharashtra,
India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2100000 |
Equity Shares |
Rs.10/- each |
Rs.21.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1284300 |
Equity Shares |
Rs.10/- each |
Rs.12.843
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
12.843 |
12.843 |
12.843 |
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2] Share Application Money |
12.000 |
0.200 |
0.000 |
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3] Reserves & Surplus |
0.023 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(2.611) |
(2.814) |
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NETWORTH |
24.866 |
10.432 |
10.029 |
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LOAN FUNDS |
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1] Secured Loans |
23.092 |
5.725 |
0.000 |
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2] Unsecured Loans |
2.711 |
7.330 |
5.205 |
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TOTAL BORROWING |
25.803 |
13.055 |
5.205 |
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DEFERRED TAX LIABILITIES |
0.481 |
0.386 |
0.000 |
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TOTAL |
51.150 |
23.873 |
15.234 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
15.097 |
2.502 |
2.259 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.100 |
0.100 |
0.001 |
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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 |
16.679
|
10.798 |
3.372 |
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Sundry Debtors |
16.629
|
9.606 |
6.484 |
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Cash & Bank Balances |
0.892
|
0.484 |
1.529 |
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Other Current Assets |
0.000
|
0.000 |
0.729 |
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Loans & Advances |
6.106
|
1.850 |
0.500 |
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Total
Current Assets |
40.306
|
22.738 |
12.614 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
8.054
|
2.572 |
1.216 |
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Provisions |
0.491
|
0.151 |
0.179 |
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Total
Current Liabilities |
8.545
|
2.723 |
1.395 |
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Net Current Assets |
31.761
|
20.015 |
11.219 |
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MISCELLANEOUS EXPENSES |
4.192 |
1.256 |
1.755 |
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TOTAL |
51.150 |
23.873 |
15.234 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
63.764 |
34.517 |
20.498 |
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Other Income |
1.065 |
7.588 |
0.060 |
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Total Income |
64.829 |
42.105 |
20.558 |
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Profit/(Loss) Before Tax |
2.729 |
0.411 |
(1.658) |
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Provision for Taxation |
0.094 |
0.208 |
0.099 |
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Profit/(Loss) After Tax |
2.635 |
0.203 |
(1.757) |
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Expenditures : |
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Administrative Expenses |
6.329 |
6.472 |
0.000 |
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Purchases |
48.816 |
32.755 |
13.005 |
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Operational Expenses |
11.505 |
8.445 |
0.000 |
|
|
Increase/(Decrease) in Finished Goods |
(5.880) |
(7.426) |
0.000 |
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Salaries, Wages, Bonus, etc. |
0.000 |
0.000 |
0.705 |
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Managerial Remuneration |
0.000 |
0.000 |
0.180 |
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Payment to Auditors |
0.000 |
0.000 |
0.055 |
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Interest |
0.000 |
0.000 |
0.138 |
|
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Insurance Expenses |
0.000 |
0.000 |
0.046 |
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Preliminary Expenses W/Off |
0.057 |
0.057 |
0.000 |
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Depreciation & Amortization |
0.246 |
0.195 |
0.000 |
|
|
Deferred Revenue Expenses W/Off |
0.442 |
0.442 |
0.000 |
|
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Borrowing Cost |
0.585 |
0.754 |
0.000 |
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Other Expenditure |
0.000 |
0.000 |
8.087 |
|
Total Expenditure |
62.100 |
41.694 |
22.216 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
4.06
|
0.48 |
(8.55) |
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Net Profit Margin (PBT/Sales) |
(%) |
4.28
|
1.19 |
(8.09) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.93
|
1.63 |
(11.15) |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.04 |
(0.17) |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.38
|
1.51 |
0.66 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
4.72
|
8.35 |
9.04 |
LOCAL AGENCY
FURTHER INFORMATION
Note
The Registered Office of the company has been shifted from 14, Uday
Building, Opp. Apna Bazar 326 B, J. N. Road, Mulund (West), Mumbai – 400 080,
Maharashtra, India to the present address w.e.f. 27.02.2007.
Trade References
·
Asian Paints
Limited
Asian Paint House, 5th Floor,
Shantinagar Industrial Estate, Vakola, Mumbai – 400 055, Maharashtra
Contact – Mr. Vaibhav Sawant (Tel.
91-22-26526387)
·
Bombay Paints
Limited
B. D. Patel Marg, Chembur, Mumbai – 400 074,
Maharashtra
Contact – Mr. Rushi Rogistrar (Tel.
91-22-25544016)
·
Pidilite
Industries Limited
Ramkrishna Mandir Road, Andheri (East),
Mumbai – 400 059, Maharashtra
Contact – Mr. S. N. Thakur
(Tel. 91-22-28367085)
·
Deuchem Trading
Company
·
DSM Coating Resing
Europe B.V.
·
Mengzoo Huaxing
Biochemistry Company Limited
·
Sinochem Jiangsu
Import and Export Company PN
Form No. 8
|
Corporate
identity number of the company |
U24100MH2003PTC138599 |
|
Name of the
company |
EMERALD ALCHYMICUS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
705, The Corporate Centre, Nirmal Lifestyles, LBS Marg, Mulund (West),
Mumbai – 400 080, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
The North Kanara G S B Co-Operative Bank
Limited Alps Height, Ground Floor, Off Dr. R P Road, Mulund (West), Mumbai –
400 080, Maharashtra, India |
|
Nature of instrument
creating charge |
Composite
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
24.07.2008 |
|
Amount secured by
the charge |
Rs.45.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate of
interest Rate of interest : 14% p.a. ·
Margin Margin : 25% against Stocks and book debts upto 90 days ·
Extent and
operation of the charge To secure the due repayment of Cash credit facility of Rss.45.000
millions granted by the Bank to the Company. |
|
Particulars of
the property charged |
·
All, present
and future, stocks and consumables of the Company, such as crosslinker, C *
100, K-80, neocryl, packing material, etc. ·
All, present
and future, machineries/ consumables/moulds of the Company and ·
All, present
and future, book-debts, outstanding monies, receivables, claims, bills,
contracts, securities, investments, goodwill, rights and assets of the
Company. |
Fixed assets
·
Air conditioners
·
Computers
·
Plant and Machinery
·
Furniture and fixtures
·
Electrical Installation
·
Office Premises
·
Software
·
Motor Car
·
Office Equipments
Web Details
Profile
A progressive, professionally managed organization, driven by highly
qualified professionals who have an excellent track record industry
management, marketing and business development. with wealth of experience to
back them up. They have a strong equity base that makes them financially sound
and a team of extremely dedicated, qualified and well trained staff
Established in the year 2002, as a trading concern, they have made
significant headway as
a)
Manufacturers Representatives of Indian as well as ‘Multi National
Companies
b)
Quality suppliers of world class raw materials,
c)
International sourcing agents for raw materials, excipients, and
chemicals
d)
Exporters of drug intermediates, pharmaceuticals and herbal products
and chemicals.
e)
Marketing of select projects and technology for manufacture of drugs and
drug intermediates.
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.48.52 |
|
UK Pound |
1 |
Rs.72.62 |
|
Euro |
1 |
Rs.63.76 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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 |
|