%20PRIVATE%20LIMITED-67585%2015-Dec-2008_files/image002.jpg){kind=small}
- Summary Information
|
Company Name |
HUNTSMAN INTERNATIONAL (INDIA) PRIVATE
LIMITED |
Principal Name 1 |
MR. PETER HUNSTMAN JOHN |
|
Status |
GOOD |
Principal Name 2 |
MR. UMER BISCHAND SHARMA |
|
Street Address |
PLOT NO. 1/1 TTC INDUSTRIAL AREA, THANE BELAPUR ROAD, KOPARKHAIRNE,
NAVI MUMBAI – 400 709, MAHARASHTRA |
||
|
Established Date |
27.02.2001 |
SIC Code |
-- |
|
Telephone# |
91-22-27780000/ 83 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
91-22-2778008/4/5/8 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Polyol |
|
|
# of employees |
200 |
Product Name 2 |
Dyes and Chemicals |
|
Paid up capital |
Rs. 858475000 |
Product Name 3 |
Chemical |
|
Shareholders |
FOREIGN HOLDINGS (100%) |
Banking |
-- |
|
Public Limited Corp. |
NO |
Business Period |
7 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public Enterprise |
NO |
Rating |
Aa |
|
Related Company |
|||
|
Relation |
Country |
Company Name |
CEO |
|
HOLDING COMPANY |
NETHERLAND |
HUNTSMAN INVESTMENTS (NETHERLANDS) BV |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1788581000 |
Current Liabilities |
828807000 |
|
Inventories |
687853000 |
Long-term Liabilities |
88000000 |
|
Fixed Assets |
828940000 |
Other Liabilities |
000 |
|
Deferred Assets |
1888000 |
Total Liabilities |
916807000 |
|
Invest& other Assets |
12701000 |
Retained Earnings |
000 |
|
|
|
Net Worth |
2403156000 |
|
Total Assets |
3319963000 |
Total Liab. & Equity |
3319963000 |
|
Total Assets (Previous Year) |
3087986000 |
|
|
|
P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Sales |
5625070000 |
Net Profit |
361100000 |
|
Sales(Previous yr) |
4236280000 |
Net Profit(Prev.yr) |
101170000 |
MIRA
INFORM REPORT
|
Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HUNTSMAN INTERNATIONAL (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No. 1/1 TTC Industrial Area, Post Box No. 12, Koparkhairne,
Thane, Belapur Road, Navi Mumbai -
400 709, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
27.02.2001 |
|
|
|
|
Com. Reg. No.: |
11-131020 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24117MH2001PTC131020 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH05154C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Marketer of Chemicals. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 12000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a usually owned subsidiary of Huntsman, the Netherlands.
Available information indicates high financial responsibility of the company.
Trade relations are fair. Payments are correct and as per commitments. The
company is doing well. It can be considered good for any normal business
dealings at usual trade terms and conditions. It can be regarded as a promising business partner in a medium to long
run. |
LOCATIONS
|
Registered Office / Factory : |
Plot No. 1/1 TTC Industrial Area, thane Belapur Road, Koparkhairne,
Navi Mumbai – 400 709, Maharashtra |
|
Tel. No.: |
91-22-27780000/ 83 |
|
Fax No.: |
91-22-2778008/4/5/8 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
A -10/ A, Sector 24, FDDI Complex, Noida – 201 301, Gautam Buddha
Nagar, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4255100 |
|
Fax No.: |
91-120-4255105 / 4255106 |
DIRECTORS
|
Name : |
Mr. Peter Hunstman John |
|
Designation : |
Director |
|
Address : |
10003, Woodloch Forest, Dr. The Woodlands Texas-77380, US |
|
Date of Birth/Age : |
13.03.1963 |
|
Date of Appointment : |
01.03.2001 |
|
|
|
|
Name : |
Mr. Umer Bischand Sharma |
|
Designation : |
Director |
|
Address : |
Flat No. 27, SRM Apartment, A – Block 106, Patparganji, New Delhi –
110 092 |
|
Date of Birth/Age : |
14.07.1962 |
|
Date of Appointment : |
30.10.2001 |
|
|
|
|
Name : |
Mr. Gerrard William Ron |
|
Designation : |
Managing Director |
|
Address : |
6, Bindong Park, Singapore – 269 789 |
|
Date of Birth/Age : |
16.08.1954 |
|
Date of Appointment : |
30.09.2003 |
|
Date of Ceasing: |
03.03.2005 |
|
|
|
|
Name : |
Mr. Sandeep Ganesh Divekar |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 604, Ambiuence, Prestige Garden Panchpakhadi, Thane (West), Thane-400601,
Maharashtra, India |
|
Date of Birth/Age : |
30.07.1972 |
|
Date of Appointment : |
28.05.2008 |
|
Date of Ceasing: |
29.09.2008 |
|
|
|
|
Name : |
Mr. Sheng Shun Wang |
|
Designation : |
Director |
|
Address : |
Villia A-1, Hong Qiao State Guest House, Shanghi-200336, China |
|
Date of Birth: |
09.05.1954 |
|
Date of Appointment : |
22.02.2005 |
|
|
|
|
Name : |
Mr, Anish Nirmal Ghoshal |
|
Designation : |
Director |
|
Address : |
402, Rocky Hill, Rizvi Complex, Shriley Rajan Road, Bandra (West)m
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1964 |
|
Date of Appointment : |
22.09.2005 |
|
|
|
|
Name : |
Mr. Arun Kumar |
|
Designation : |
Director |
|
Address : |
Flat No. 301, 3rd Floor, Burlington Hiranandani Estate,
G.B. Road, Thane-400607, Maharashtra, India |
|
Date of Birth: |
23.12.1971 |
|
Date of Appointment : |
25.08.2005 |
|
|
|
|
Name : |
Mr. Nicholas Andrew Webster |
|
Designation : |
Director |
|
Address : |
3040, Huldenberg, Hollestratt (Loo) 9, Huldenbera-9, GB |
|
Date of Birth: |
31.08.1957 |
|
Date of Appointment : |
20.11.2007 |
|
|
|
|
Name : |
Mr. Rohit Aggarwal |
|
Designation : |
Director |
|
Address : |
Egnelgasse 20, 4052, Bansal-4050, India |
|
Date of Birth: |
25.11.1969 |
|
Date of Appointment : |
18.01.2008 |
|
|
|
|
Name : |
Mr. Ashish Kumar |
|
Designation : |
Director |
|
Address : |
F-303, Krishna Apara Sector-61, Noida, Uttar Pradesh, India |
|
Date of Birth: |
11.001.1971 |
|
Date of Appointment : |
17.04.2008 |
|
|
|
|
Name : |
Mr. Ajay Kanwar |
|
Designation : |
Director |
|
Address : |
Flat No. 201, Springleaf 7A, Lokhandwala Township, Akurli Road,
Kandivali (East), Mumbai-400101, Maharashtra, India |
|
Date of Birth: |
04.11.1970 |
|
Date of Appointment : |
28.05.2008 |
|
Date of Ceasing: |
29.09.2008 |
KEY EXECUTIVES
|
|
|
|
Name : |
Mr. Pratik Shah |
|
Designation : |
Secretary |
|
Address : |
B-21, Triveni, Gilber Hill Road, Andheri (West), Mumbai-400058,
Maharashtra, India |
|
Date of Birth: |
17.04.1981 |
|
Date of Appointment : |
17.04.2008 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Huntsman Investment Netherlands BV |
|
16713117 |
|
Huntsman Netherlands BV |
|
10000 |
|
|
Total
|
16723117 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2008
|
Category |
|
Percentage |
|
Foreign holdings (Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas corporate bodies or Others) |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketer of Chemicals. |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Polyol |
MT |
12000 |
12000 |
10111.99 |
|
Dyes and Chemicals |
MT |
NA |
NA |
6986.75 |
GENERAL INFORMATION
|
No. of Employees : |
200 |
|
|
|
|
Bankers: |
Not Available |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells (Chartered Accountant) |
|
Address : |
12, Dr. Annie Besant Road, Shiv Sagar Estate, Worli, Mumbai – 400018, Maharashtra
|
|
Tel No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679025 |
|
|
|
|
Holding Company: |
Huntsman Investments (Netherlands) BV |
|
|
|
|
Associates: |
Swathi Organics and Specialities Private Limited, India |
|
|
|
|
Subsidiary
Company: |
·
Huntsman Polyurethanes Australia Pty. Limited ·
Huntsman (Germany) GmbH ·
Huntsman Holland BV ·
Huntsman (Singapore) Pte. Limited ·
Huntsman (Holdings) UK Unlimited ·
Huntsman (Europe) BVBA ·
Huntsman (Taiwan) Limited ·
Huntsman International Polyurethanes USA ·
Huntsman International (Hong Kong) Limited ·
Huntsman International LLC ·
Huntsman Corporation Australia Pty. ·
Pt. Huntsman Indonesia, Indonesia ·
Huntsman Quimica Brazil Limited, Brazil ·
Huntsman Textile Effects France, France ·
Huntsman Advance Materials HK. Limited, Hongkong ·
Huntsman Japan K K , Japan ·
Huntsman International Mexico, Mexico ·
Huntsman Tekstill Urunleri Kimya, Turkey ·
Huntsman Advance Materials (Switzerland) Gmbh, Basle ·
Huntsman Efectos Textiles (Chile) LTDA. Chile ·
Huntsman Colombia Limited, Colombia ·
Huntsman Textile Effects (Panama) ·
Huntsman Advance Materials KK, Japan ·
Huntsman Textile Effects (Qingao) Company Limited, China ·
Huntsman Advance Material India Private Limited, India ·
Huntsman Surface Sciences UK
Limited, UK ·
Am Law |
CAPITAL STRUCTURE
As on 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
167000000 |
Equity shares |
Rs. 10/- each |
Rs.1670.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
85847541 |
Equity shares |
Rs. 10/-
each |
Rs.858.475
millions |
Note:
Of the above 85837541 (Previous year 85837541)
Equity Shares of Rs. 10/- each fully paid up are held by Huntsman Investment
(Netherlands) BV, the holding company.
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
858.475 |
858.475 |
167.231 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1544.681 |
1188.816 |
278.891 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2403.156 |
2047.291 |
446.122 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
88.000 |
180.000 |
0.000 |
|
|
TOTAL BORROWING |
88.000 |
180.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
4.664 |
|
|
|
|
|
|
|
|
TOTAL |
2491.156 |
2227.291 |
450.786 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
828.940 |
990.326 |
85.523 |
|
|
Capital work-in-progress |
7.201 |
39.970 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.500 |
5.500 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.888 |
13.143 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
687.853
|
571.672 |
146.338 |
|
|
Sundry Debtors |
1170.127
|
1129.949 |
228.083 |
|
|
Cash & Bank Balances |
348.696
|
201.744 |
172.233 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
269.758
|
135.682 |
23.901 |
|
Total
Current Assets |
2476.434
|
2039.047 |
570.555 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
793.630
|
845.578 |
203.766 |
|
|
Provisions |
35.177
|
15.117 |
1.525 |
|
Total
Current Liabilities |
828.807
|
860.695 |
205.292 |
|
|
Net Current Assets |
1647.627
|
1178.352 |
365.263 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2491.156 |
2227.291 |
450.786 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
5625.070 |
4236.280 |
1507.876 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
5625.070 |
4236.280 |
1507.876 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
642.870 |
140.670 |
121.384 |
|
|
Provision for Taxation |
281.770 |
39.500 |
53.948 |
|
|
Profit/(Loss) After Tax |
361.100 |
101.170 |
67.436 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
441.393 |
263.963 |
NA |
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
1675.421 |
1593.898 |
NA |
|
|
Capital Goods |
17.313 |
24.516 |
NA |
|
Total Imports |
1692.734 |
1618.414 |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation |
895.920 |
189.820 |
46.599 |
|
|
Other Expenditure |
4086.280 |
3905.790 |
1339.893 |
|
Total Expenditure |
4982.200 |
4095.610 |
1386.492 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
6.42 |
2.39 |
4.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.42 |
3.32 |
8.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.45 |
4.65 |
18.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.07 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.38
|
0.50 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.99
|
2.36 |
2.77 |
LOCAL AGENCY
FURTHER INFORMATION
Operating Leases:
Assets taken on lease under which all risks and rewards of ownership are
effectively retained by the lessor are classified as operating lease. Lease payments
under operating lease are recognized as expenses on accrual basis in accordance
with the respective lease agreements.
Provision
Contingent Liabilities and Contingent Assets:
Provisions involving substantial degree of estimation in measurement are
recognized when there is a present obligation as a result of past events and it
is probable that there will be an outflow of resource. Contingent liabilities
are not recognized but are disclosed in the Notes to Accounts. Contingent
Assets are neither recognized nor disclosed in the financial statements.
Fixed Assets:
·
Building
·
Improvements
·
Machinery
·
Fixture and Equipments
·
Software
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 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.48.71 |
|
UK Pound |
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.64.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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 |
|