MIRA
INFORM REPORT
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Report Date : |
20.12.2008 |
IDENTIFICATION DETAILS
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Name : |
ANUVI CHEMICALS LIMITED |
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Registered Office : |
205, Narmada, Laxmi Industrial Premises, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
26.04.1988 |
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Com. Reg. No.: |
11-047161 |
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CIN No.: [Company
Identification No.] |
U24110MH1988PTC047161 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA07414B |
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IEC No.: |
0391140710 |
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PAN No.: [Permanent
Account No.] |
AAACA1007G / AAACA10079 |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Manufacturing of fuel additives and trading |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. It would be advisable to take adequate securities while dealing with
the subject. |
INFORMATION PARTED BY
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Name : |
Mr. Madhav |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9969168115 |
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Date : |
25.10.2008 |
LOCATIONS
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Registered Office : |
205, Narmada, Laxmi Industrial Premises, |
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Tel. No.: |
91-22-25855400/ 25855379/258554341 |
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Fax No.: |
91-22-25855714/25855435 |
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E-mail : |
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Website : |
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Area: |
560 sq ft |
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Location: |
Owned |
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Factory / Research: |
Plot No. W 71 B and Part, MIDC Industrial Area, Badlapur – 421503,
District – Thane, |
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Tel. No.: |
91-251-2690418 |
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Fax No.: |
91-251-2690769 |
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Location: |
1382 sq. ft. Leased 95 Years [Rs. 1/- per year] |
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Sales Office / Marketing Office: |
G- 212, ‘Godavari’, 2ND Floor, Laxmi Industrial Premises,
Pokhran Road No. 1, Vartak Nagar, Thane 400606, Maharashtra, India |
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Tel No: |
91-22-25855400/ 25855714 |
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Location: |
560 sq. ft. Rented [Rs. 15000/- Per Months] |
DIRECTORS
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Name : |
Dr. (Mrs.) Kanaklata Krishnakumar Saxena |
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Designation : |
Chairman and Managing Director |
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Address : |
25 E/4, Mobile No.: 91-9820055768 |
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Qualification : |
M.Sc (Chem), Gold Medalist, Ph.D |
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Date of Birth/Age : |
01.11.1945 |
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Date of Appointment : |
26.04.1988 |
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Director’s Profile : |
Various Research Papers have been Published in her name renowned
Indian and Foreign Journals. |
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Name : |
Mr. Rajeshkumar Anandlal Saxena |
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Designation : |
Director |
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Address : |
25 A, |
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Qualifications : |
M.A. (Eco) MSW |
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Date of Birth/Age : |
10.10.1942 |
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Experience : |
2 Decades of Experience in Factory Administration and Human Resource
Management |
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Date of Appointment : |
26.04.1988 |
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Name : |
Prof. Vinod Chintamani Malshe |
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Designation : |
Executive Director |
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Address : |
1, University Staff Quarters, UDCT Campus, Matunga, Mumbai – 400019, |
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Qualifications : |
M.Sc (Tech), Ph.D (Tech) |
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Date of Birth/Age : |
28.02.1947 |
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Experience : |
30 Years in Research and Academics. |
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Date of Appointment : |
14.03.2008 |
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Director’s Profile : |
Retd. Head of the Department of Surface
Coating Technology, UICT, Mumbai. |
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Name : |
Dr. Rajan Saxena |
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Designation : |
Executive Director, IIM, |
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Address : |
27-A-31, Takshila Apartments, |
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Date of Birth/Age : |
17.10.1949 |
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Date of Appointment : |
14.03.2008 |
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Director’s Profile : |
Sr. Advisor to Chancellor and Distigunished Professor – |
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Name : |
Dr. Krishana K. Saxena |
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Designation : |
Chief Executive Officer, (Chairman) |
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Address : |
25 E/4, |
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Qualifications : |
M.Sc, M.Tech, Ph.D (I.I.T. Kgp) |
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Date of Birth/Age : |
15.08.1939 |
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Date of Appointment : |
01.06.2008 |
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Director’s Profile : |
Indian Resins Manufacturers Association, 2000-03, Actively associated
with many professional bodies and reputed academic institutions. |
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Name : |
Mr. Vivek Saxena |
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Designation : |
Director |
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Qualifications : |
B.Sc (Hons.), M.M.S. (Marketing), M.M.S. (Finance) |
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Date of Birth/Age : |
09.06.1971 |
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Date of Appointment : |
23.03.2007 |
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Experience : |
A Decade of Experience in International Marketing and Sales. |
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Other Directorship : |
Zipcash Card Services Private Limited U22219MH2007PTC168132 |
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Name : |
Mr. R. Pais |
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Designation : |
Vice president Operations |
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Qualifications : |
B.Sc (Hons.), M.Sc (Chem) |
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Experience : |
30 Years of Experience in Plant Operations and Management. |
KEY EXECUTIVES
Office Staff :
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Name : |
Mr. Hemant Madhav |
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Designation : |
Manager - Accounts and Finance |
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Mobile No : |
91-9969168115 |
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Name : |
Mr. Umesh Gavhane |
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Designation : |
Manager – Purchase and Administrative |
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Name : |
Mr. S. Albert Rajan |
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Designation : |
Manager – Sales |
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Name : |
Mr. Amit Yadav |
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Designation : |
Manager – Sales |
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Name : |
Ms. Usha Lalan |
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Designation : |
Coordinator – Marketing |
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Name : |
Ms. Poornima Shetty |
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Designation : |
Accounts Assistant |
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Name : |
Mr. Prakash Kalekar |
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Designation : |
Office Assistant |
Factory Staff :
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Name : |
Mr. Richard S. Pais |
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Designation : |
Vice President – Operation |
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Name : |
Mr. Subir Datta |
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Designation : |
Sr. Manager – Technical |
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Name : |
Mr. Narayan Madival |
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Designation : |
Sr. Production Officer |
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Name : |
Mr. Ashok Patel |
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Designation : |
Production and Maint. Supervisor |
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Name : |
Mr. Milind Kulkarni |
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Designation : |
Chemist |
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Name : |
Mr. B. B. Singh |
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Designation : |
Officer – Excise and Despatch |
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Name : |
Mr. Abhay Chawdhary |
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Designation : |
Chemist |
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Name : |
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Designation : |
Business Development – Executive |
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Name : |
Ms. Paurnima Pahurkar |
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Designation : |
Scientist |
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Name : |
Ms. Vaishali Bhole |
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Designation : |
Chemist – Quality Assurance |
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Factory Worker : |
Balaram Jadhav Govind More Kiran Tembe Gajanan Khambale Motiram Irmale Dashrath Thombre Motiram B Irmale Dilip Mhashkar |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 01.04.2007)
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Names of Shareholders |
No. of Shares |
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Kanaklata K. Saxena |
6309 |
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Rajeshkumar A. Saxena |
1437 |
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251 |
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Sonal Vivek Saxena |
1 |
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Anu Priya Amol |
1 |
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LT. Comdr Amol Santosh Jahagirdar |
1 |
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Vivek Krishnakumar Saxena |
1 |
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Total |
8001 |
AS ON 30.09.2008
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of fuel additives and trading |
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Products : |
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Exports : |
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Countries : |
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Sharjah |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C Credit (90 days) |
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Purchasing : |
L/C Credit (90 days) |
PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Synthetic Resins Emulsions and solutions, Textiles and Auxiliary
Chemicals and Solutions |
MT pa |
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12000 |
10000 |
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GENERAL INFORMATION
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Customers: |
Manufacturer
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No. of Employees : |
About 25 |
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Bankers : |
The Thane Janata Sahakari Bank Limited Vartak Nagar, Thane (West), Thane-400602, |
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Facilities: |
CC- Rs. 1500.000 Millions, LC- Rs. 1500.000 Millions, PC- Rs. 7.200
Millions
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Desai Saksena and Associates Chartered Accountants |
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Address : |
1st Floor, |
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Tel No. : |
91-22-66261600 / 66261615 |
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Fax No.: |
91-22-66261617 |
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Email : |
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Website : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8001 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.800
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.800 |
0.800 |
0.800 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
9.142 |
8.899 |
7.552 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.942 |
9.699 |
8.352 |
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LOAN FUNDS |
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1] Secured Loans |
20.994 |
12.817 |
5.253 |
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2] Unsecured Loans |
1.450 |
1.200 |
1.564 |
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TOTAL BORROWING |
22.444 |
14.017 |
6.817 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
32.386 |
23.716 |
15.169 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.839 |
10.335 |
3.752 |
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Capital work-in-progress |
0.000 |
2.577 |
1.105 |
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INVESTMENT |
0.088 |
0.088 |
0.088 |
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DEFERREX TAX ASSETS |
0.406 |
0.270 |
0.334 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
16.479
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14.214 |
9.102 |
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Sundry Debtors |
18.625
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29.011 |
15.708 |
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Cash & Bank Balances |
2.352
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2.514 |
0.840 |
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Other Current Assets |
0.171
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0.256 |
0.572 |
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Loans & Advances |
4.562
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6.019 |
3.153 |
42.189
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52.014 |
29.375 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
21.843
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37.577 |
16.343 |
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Provisions |
3.293
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3.991 |
3.142 |
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Total
Current Liabilities |
25.136
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41.568 |
19.485 |
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Net Current Assets |
17.053 |
10.446 |
9.890 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
32.386 |
23.716 |
15.169 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
170.394 |
118.200 |
79.996 |
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Other Income |
0.203 |
0.473 |
0.524 |
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Total Income |
170.597 |
118.673 |
80.520 |
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Profit/(Loss) Before Tax |
0.543 |
2.238 |
3.072 |
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Provision for Taxation |
0.300 |
0.897 |
1.178 |
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Profit/(Loss) After Tax |
0.243 |
1.341 |
1.894 |
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Expenditures : |
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Raw Material Consumed |
139.627 |
96.621 |
60.233 |
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Increase/(Decrease) in Finished Goods |
(1.151) |
(2.451) |
0.257 |
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Direct Expenses |
4.712 |
5.138 |
3.163 |
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Employees Remuneration and Benefits |
4.906 |
3.610 |
3.741 |
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Office and Administrative Expenses |
5.172 |
4.467 |
4.240 |
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Financial Charges |
3.939 |
2.322 |
1.794 |
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Selling and Distribution Expenses |
10.322 |
5.450 |
3.278 |
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Depreciation & Amortization |
2.527 |
1.279 |
0.743 |
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Total Expenditure |
170.054 |
116.436 |
77.449 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.00
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1.13 |
2.35 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.32
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1.89 |
3.84 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.95
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3.59 |
9.27 |
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Return on Investment (ROI) (PBT/Networth) |
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0.05
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0.23 |
0.37 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.79
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5.73 |
3.15 |
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Current Ratio (Current Asset/Current Liability) |
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1.68
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1.25 |
1.51 |
LOCAL AGENCY FURTHER INFORMATION
Registered Office of the company has been shifted from 25 E/4,
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LOCATION |
REGISTERED
ACTIVITIES |
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G- 212, ‘Godavari’, 2ND Floor, Laxmi Industrial Premises,
Pokhran Road No. 1, Vartak Nagar, Thane 400606, Maharashtra, India |
Management, Marketing and Sales, Purchase and Resource Management |
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Plot No. W 71 B and Part, MIDC Industrial Area, Badlapur – 421503,
District – Thane, |
Manufacture Quality Control / Quality Assurance, Management
Representative Functions, Stores and Packing Despatch |
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Introduction
The Company is in the business of manufacturing speciality industrial emulsions
and construction chemicals.
Production
Facilities
Products are manufactured at the state of the art plant located about
67km from Mumbai at Badlapur in fully developed MIDC Industrial area. The plant
capacity is 12000 MT per year and this year they shall be utilizing about 50-55
% of it scapacity.
With in next two years they will have to look for major expansion at
some other location since the current plant space has been fully utilized.
Technology
It has a fully – fledged Quality Assurance and Research and Development
laboratories, manned by highly qualified and experienced personnel. The Chief
Executive Officer Dr. K. K. Saxena and Vice-President – Technology, Prof V. C.
Malshe are directly involved in the development of new speciality products and
processes.
Operations
The Company achieved a turnover of Rs. 170.394 Millions during the year
under report as against Rs. 118.199 Millions in the previous year, an increase
of 44.15 % over the previous year. However, due to steep rise in raw material
costs, overheads and depreciation cost, the profit before tax declined by 12.72
% at Rs. 3.069 Millions. The increase in depreciation was on account of the
heavy investments in infrastructure for research and development and technical
service laboratory and enhancing production capacities, which will show results
in the coming years. The net profit after tax for the year was Rs. 0.242
Million as against Rs. 1.342 Millions.
The Company’s operations showed improvement in both production and
sales. This was possible due to the investments due to the investments made
during the past two years in enhancing the production capacities and utilizing
the same effectively.
Since the Company is technology oriented, new infrastructure for
Research and Development has been created which will facilitate the development
of new products and processes. Technical service laboratory is also being
revamped which will be used for helping the customers to solve their technical
problems.
As a part of strategy the Company will focus on developing products for
newer applications in paint segment. The focus on construction chemicals and
resins for water based inks etc. will continue to remain the company’s focus.
The attempts have been made to enhance the customer base by appointing
new distributors. Efforts to enlarge market continue. Introduction of
eco-friendly resins for greener paints are expected to increase in
acceptability of Company’s products and thus the sale in foreign markets.
It is expected that the demand of resins would go up in the future and
to meet such a demand competitors have installed new capacities in different
and preferred locations. These challenges will be met by introducing newer
products on continuous basis, finding new applications for the current product
and by being competitive.
MARKETING
The marketing is being looked after by Manager – Sales under the
guidance or Dr. K. K. Saxena, Director. The techno commercial team consists of qualified
sales personnel supported by experts in the paint industry.
The valued customers include companies like Asian Paints, ICI, Kansai
nerolac, Nitco Paints, NCL ALLTEK, Hyderabad etc, and many medium and small
scale paint formulators. Other products are consumed by flocking textile
industries, water based ink industries etc.
They have their distributors at
RESIKON
CONSTRUCTION CHEMICAL SYSTEMS – DIVISION
The Company has another division – RESIKON Constructions Chemicals
Systems division. These products include specialty polymers which are based in
addition and condensation polymer technology. The product range offers complete
solutions for new construction as well as repair, rehabilitation and
restoration of old and heritage structures. These products include corrosion
protectors, water proofing chemicals, high standard repair systems for old
constructions etc.
TRADE MARKS
Company owns following well known Registered Trade marks.
“ANUCRYL” Paint and Textiles Emulsions
“IMPRES” Ink and Paper Emulsions
“ANUVITAN” Leather Emulsions
“RESIKON” Construction Chemicals
“BETANDUR” Construction Chemicals
MANUFACTURING
PROCESS
The Company is involved in the manufacturing of water based acrylic
emulsions. The main raw material are monomers, emulsifiers and water. All these
are mixed in the monomer mix tank which acts as a feed tank. The mix is then
fed into a polymerization kettle and the heating, temperature varies from
60-85°C depending on the product. After polymerization is complete, some
additives are added and the product is transferred to the blend tank and later
on filtered and drummed. In some cases and material is directly drummed from
the polymerization kettle. In all of the products the main content is water
after it is purified through a distill water unit.
PAST PERFORMANCE
Rs in Millions
|
Particulars |
Last Year |
Last but one
year |
Last but two
years |
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Turnover |
118.199 |
79.996 |
78.390 |
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Net Profit |
1.342 |
1.894 |
0.469 |
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Retained Profit |
1.342 |
1.894 |
0.469 |
MONTHLY TURNOVER
FOR THE LAST TWELVE MONTHS
Rs in Millions
|
Months |
Turnover |
Months |
Turnover |
Months |
Turnover |
|
Jan’ 07 |
16.773 |
May 07 |
27.493 |
September 07 |
17.747 |
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Feb 07 |
16.158 |
June 07 |
17.588 |
October 07 |
17.549 |
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March 07 |
16.196 |
July 07 |
22.480 |
November 07 |
16.950 |
|
April 07 |
18.201 |
August 07 |
18.077 |
December 07 |
14.399 |
Application form for credit facilities of over Rs. 20.000 Millions
|
Locational advantages of existing
|
Unit is situated in chemical zone at Badlapur Industrial Area [MIDC] |
|
|
|
|
Availability of |
|
|
Power |
M.S.E.B., D.G.Set |
|
Water |
M.I.D.C. |
|
Labour |
Local |
|
|
|
|
Market for the Product |
For Industrial Like – Paper, Paint and Coating, industries, water
based ink and varnishes, flocking and non-woven textiles industries, leather
industries and construction industries.
|
|
|
|
|
Power |
|
|
Take from Electricity Board |
M.S. E. B. 107 HP |
|
Stand – by arrangements |
D. G. Set 62.5 KVA |
|
Maximum Demand |
80 KVA |
|
Connected Load |
107 HP |
|
Energy Consumption per year |
Approx 110000 units per annum |
|
Power Tariff |
Rs. 4/- per unit + surcharge + Tax for year 07-08 |
|
Cost of Power per annum at maximum capacity utilization |
Approx Rs. 0.625 Million p.a. |
|
|
|
|
Water |
|
|
Indicate the requirements and suitability of water |
Water supply from MIDC |
|
Described water treatment arrangement |
|
|
Sources for supply of water arrangement proposed and water charges
payable |
Water charge Rs. 20/- per c mtrs / C.E.T. cty. Rs. 10.50 per C. M.
T. |
|
|
|
|
Stem |
|
|
Requirement o steam |
Yes |
|
Capacity of the boiler |
400 kg per hour |
|
Arrangements proposed for steam |
Proposed 600 kg per hour |
|
|
|
|
Fuel |
|
|
Requirement of fuel |
L. D. O. for Boiler Diesel for Generator set |
|
|
|
|
QUALITY CONTROL |
Anuvi chemicals limited holding certificate of Registration No. F M
80206 and operate a quality Management systems which complies with
requirement of BSEN 150 9001 : 2000 for the scope of manufacture and supply
of specialty Industrial Polymer Emulsions and construction chemicals. |
|
|
|
Other details for
the preceding two years
|
Name of the Product |
Year I |
Year II |
||
|
Country |
F. O. B. |
Country |
F. O. B. |
|
|
Styrene and Acrylic co-polymer Emulsions |
|
5999888 |
|
Nil |
|
|
|
|
|
|
|
|
|
3933410 |
|
790425 |
STATEMENT OF
ASSETS AND LIABILITIES
Name : Dr.
Kanaklata Krishnakumar Saxena
DEPOSITS
HELD WITH BANK
Rs in
millions
|
Name of the Bank
|
Nature of
Deposits held |
Amount of
Deposit |
|
|
|
|
|
State Bank of Travancore |
Saving |
0.501 |
|
|
|
|
|
HDFC Bank |
Saving |
0.609 |
DEPOSITS HELD WITH
COMPANIES / OTHERS
Rs
in millions
|
Name of the
Company |
Nature of
Deposits |
Amount of
Deposits |
|
|
|
|
|
IDBI Bonds |
Bonds |
0.030 |
|
|
|
|
|
HDFC |
Tax Saver Bonds |
0.060 |
LIFE INSURANCE
POLICIES
Rs
in millions
|
Date of policy |
Policy No. |
Annual Premium |
Sum assured |
|
|
|
|
|
|
01.03.2001 |
92126477 |
2945.900 |
0.250 |
|
|
|
|
|
|
22.03.2005 |
923236472 |
1000.000 |
Pension plan |
IMMOVABLE
PROPERTIES
|
Description of
property |
Location |
Extent of
building area constructed |
Type of property
|
Date of purchase
of property |
Present market
value as on |
|
|
|
|
|
|
|
|
Bunglow |
25 E/4, |
2500 sq. ft. |
Residential |
1980 |
Rs. 10 Millions |
|
|
|
|
|
|
|
Government
Securities / National Savings Certificates / Shares of listed companies / units
of unit Trust of India etc.
|
Description of
Security |
Face Value |
|
|
|
|
N.S.C. |
10.000 |
|
|
|
Total Assets : Rs.
9.187 Millions
Net Worth : Rs.
9.187 Millions
Mr. Rajeshkumar
Anandlal Saxena
DEPOSITS
HELD WITH BANK
|
Name of the Bank
|
Nature of
Deposits held |
Amount of
Deposit [Rs. In Millions] |
|
|
|
|
|
Abhyddoya Bank, Bhandup |
Fixed Deposit |
0.150 |
|
|
|
|
LIFE INSURANCE
POLICIES
Rs
in millions
|
Date of policy |
Policy No. |
Annual Premium
[Rs.] |
Sum assured |
|
|
|
|
|
|
13.12.1988 |
910244446 |
2861/- |
0.050 |
|
28.05.1994 |
880048768 |
4829/- |
0.050 |
|
|
|
|
|
IMMOVABLE
PROPERTIES
|
Description of
property |
Location |
Extent of
building area constructed |
Type of property
|
Date of purchase
of property |
Present market
value as on |
|
|
|
|
|
|
|
|
Bunglow |
25 E/4, |
21350 sq. ft. |
Residential |
1985 |
Rs. 6 Millions |
|
|
|
|
|
|
|
Total Assets Rs.
5.650 Millions
Net Worth : Rs.
5.650 Millions
Name : Dr.
Krishana K. Saxena
DEPOSITS
HELD WITH BANK
|
Name of the Bank
|
Nature of
Deposits held |
Amount of
Deposit [Rs. In Millions] |
|
|
|
|
|
State Bank of Travancore |
Saving |
0.336 |
|
|
|
|
|
HDFC Bank |
Saving |
0.075 |
|
|
|
|
IMMOVABLE
PROPERTIES
Rs
in millions
|
Description of property
|
Location |
Extent of
building area constructed |
Type of property
|
Details of
documents conferring right |
Date of purchase
of property |
Present market
value as on |
|
Commercial Office |
G-212, |
560 sq. ft. |
Commercial |
Agreement for |
11.06.99 |
0.504 |
|
|
|
|
|
|
|
|
Government
Securities / National Savings Certificates / Shares of listed companies / units
of unit Trust of India etc.
Rs
in millions
|
Description of
Security |
Face Value |
Market value as
on |
|
|
|
|
|
UTI Market Gain |
0.008 |
0.033 |
|
UTI us 1964 |
0.008 |
|
|
IDBI Flexible |
0.030 |
|
|
HDFC – ELSS |
0.030 |
|
|
NSC |
0.020 |
|
|
|
|
|
Particulars of
Assets
Rs
in millions
|
Particulars |
Gross Block |
|
|
|
|
Land |
0.734 |
|
Factory premises |
8.333 |
|
Plant and Machinery |
11.509 |
|
Laboratory Equipments |
0.189 |
|
Furniture and Fixtures |
1.441 |
|
Electrical Fittings |
0.831 |
|
Air Conditioners |
0.260 |
|
Fire Extinguishers |
0.044 |
|
Office Equipments |
0.310 |
|
Vehicles |
2.470 |
|
Computers |
0.415 |
|
|
|
|
Total gross
Block |
26.536 |
TRADE REFERENCES:
·
Asian Paints
·
Kansai Nerolac
FORM 8 :
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24110MH1988PTC047161 |
|
Name of the
company |
ANUVI CHEMICALS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
205, Narmada, Laxmi Industrial Premises, |
|
Type of charge |
Others |
|
Particular of
charge holder |
The Thane Janata
Sahakari Bank Limited Deendayal Bhavan,
Jambhali Naka, Thane – 400601, |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Loan Agreement |
|
Date of
instrument Creating the charge |
13.03.2007 |
|
Amount secured by
the charge |
Rs. 1.100
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 2.75 % below PLR,
10.75% p.a. floating Terms of
Repayment 5 years, 60 EMI Margin 6 % Extent and
Operation of the charge 5 Years |
|
Short particulars
of the property charged |
Ford Icon Fair
1.3 [Two Car] |
|
Corporate identity
number of the company |
U24110MH1988PTC047161 |
|
Name of the
company |
ANUVI CHEMICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
25 E/4, |
|
This form is for |
Creation of
Charges |
|
Type of charge |
Hypothecation
|
|
Particular of
charge holder |
The Thane Janata
Sahakari Bank Limited Deendayal Bhavan,
Jambhali Naka, Thane – 400601, |
|
Nature of
instrument creating charge |
|
|
Date of instrument
Creating the charge |
20.04.2006 |
|
Amount secured by
the charge |
Rs. 2.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
ROI at 12 % p.a.,
Margin of 20 % E.M.I. of Rs. 0.044 Millions Repayable within 63/60
Months |
|
Description of
the property charged indicating whether it is a charged on |
Immovable
properties |
|
Particulars of
the property charged |
Hypothecation of all
present and future movable plant and machinery, machinery stress, machinery
stores, spares and accessories referred to as hypothecated assets in the
agreement. |
PROFIT AND LOSS
A/C
Rs
in millions
|
Particulars |
Projected P
& L A/c Apr-Mar, 09 |
|
|
|
|
Quantity Sold |
3000 MT |
|
|
|
|
REVENUE |
140.563 |
|
A] Sales |
143.000 |
|
A] Scrap Sales |
0.096 |
|
B] Increase / [Decrease] in Inventory |
[2.533] |
|
|
|
|
EXPENDITURE |
|
|
Raw Material Consumed |
109.767 |
|
Opening Stock of raw Material |
8.652 |
|
Add : Purchases |
107.400 |
|
Less : Closing Stock |
6.285 |
|
Direct Expenses |
5.238 |
|
Consumables |
0.915 |
|
Freight Inward on Purchase |
1.125 |
|
Wages and Allowances |
0.800 |
|
Power Charges |
0.410 |
|
Water Charges |
0.240 |
|
Repairing and Maintenance – Plant and
Machinery |
0.225 |
|
Clearing and Forwarding Expenses |
1.313 |
|
Other Manufacturing Expenses |
0.210 |
|
Works Cost |
115.005 |
|
|
|
|
Gross Profit |
25.558 |
|
|
|
|
Less : Other Operating Expenses |
16.547 |
|
Employees remuneration and Benefits |
4.022 |
|
Office and Admin Exps. |
5.280 |
|
Selling and Distribution Exps. |
7.245 |
|
Operating Profit |
9.011 |
|
|
|
|
Add : Non Operating Income |
0.657 |
|
Interest Received |
0.100 |
|
Other Income |
0.557 |
|
EBIT |
9.668 |
|
Less : Depreciation |
2.737 |
|
|
|
|
EBIT |
6.931 |
|
Less : Finance Charges |
4.650 |
|
Interest to Banks |
3.867 |
|
Interest to Others |
0.159 |
|
Bank Charges |
0.624 |
|
Profit before tax |
2.281 |
|
Less : Provision for Taxation |
0.760 |
|
Deferred Tax Income [Expenditure] |
0.000 |
|
Profit [loss] after tax |
1.521 |
BALANCE SHEET
Rs
in millions
|
Particulars |
Projected Apr-Mar, 09 |
|
|
|
|
SOURCES OF FUNDS |
|
|
Shareholders Funds |
11.463 |
|
A] Share Capital |
0.800 |
|
B] Reserves and Surplus |
10.663 |
|
Opening Balance |
9.142 |
|
Add : Profit during the year |
1.521 |
|
Closing balance |
10.663 |
|
Loan Funds |
19.752 |
|
A] Secured Loans |
19.752 |
|
Project Finance |
2.700 |
|
[Pre and Post Shipment] |
|
|
Term Loan |
1.344 |
|
[against Plant and Machinery] |
|
|
Vehicle Loan |
0.708 |
|
Bill Discounting |
|
|
Working Capital Term loan |
|
|
Bank Cash Credit |
15.000 |
|
Additional Working Capital Loan |
|
|
B] Unsecured Loans |
|
|
Form Directors / Relatives |
|
|
From Others |
|
|
TOTAL FUNDS EMPLOYED |
31.215 |
|
|
|
|
APPLICATION OF FUNDS |
|
|
Fixed Assets |
12.791 |
|
Gross Block |
26.466 |
|
Less : Depreciation |
13.675 |
|
Net Block |
12.791 |
|
Capital Work in Progress |
|
|
Investments |
|
|
Shares of Thane Janata Co-op bank |
0.088 |
|
Current Assets and Loans and Advances |
42.767 |
|
Current Assets |
37.597 |
|
Raw material |
5.885 |
|
Stock in Transit |
|
|
Work in Progress |
0.592 |
|
Finished Goods |
4.701 |
|
Stores and Spares [Packing Mat] |
0.400 |
|
Sundry Debtors |
23.833 |
|
Deposits with Government Authorities |
0.113 |
|
Deposits with Others |
0.073 |
|
Cash in hand and at bank |
2.000 |
|
Loans and Advances |
5.170 |
|
Advance Recoverable in cash and kind |
5.109 |
|
Other Advances |
0.061 |
|
Less : Current Liabilities and Provision |
24.837 |
|
Current Liabilities |
20.765 |
|
Sundry Creditors |
18.516 |
|
Security Deposits |
0.375 |
|
Statutory Liabilities |
0.195 |
|
Outstanding Liabilities |
1.679 |
|
Provisions |
4.072 |
|
Provisions for Income Tax |
3.644 |
|
Provision for Gratuity |
0.428 |
|
Net Current Assets |
17.930 |
|
Deferred Tax Assets |
0.406 |
|
TOTAL ASSETS |
31.215 |
|
|
|
Details of Sales and Purchases for the period ended 31st
October, 2008
Rs
in millions
|
Month |
Gross Sales |
Gross Purchases |
|
April, 08 |
17.261 |
8.062 |
|
May, 08 |
19.503 |
17.140 |
|
June, 08 |
13.328 |
11.728 |
|
July, 08 |
14.751 |
12.722 |
|
August, 08 |
11.788 |
10.436 |
|
September, 08 |
11.756 |
8.962 |
|
October, 08 |
12.867 |
6.559 |
|
|
101.254 |
75.609 |
|
|
|
|
Month wise closing stock for the period ended 31st October,
2008
Rs
in millions
|
Month |
Closing Stock |
|
April, 08 |
11.394 |
|
May, 08 |
12.946 |
|
June, 08 |
13.753 |
|
July, 08 |
17.114 |
|
August, 08 |
16.374 |
|
September, 08 |
19.204 |
|
October, 08 |
15.822 |
Month Wise Sundry Debtors and Creditors for the period ended 31st
October, 2008
Rs
in millions
|
Month |
Sundry Debtors |
Sundry Creditors
[RM] |
|
April, 08 |
26.935 |
19.358 |
|
May, 08 |
32.675 |
28.496 |
|
June, 08 |
33.586 |
26.987 |
|
July, 08 |
34.983 |
28.055 |
|
August, 08 |
29.634 |
26.287 |
|
September, 08 |
26.637 |
26.732 |
|
October, 08 |
29.525 |
23.039 |
|
|
|
|
FIXED ASSETS
- Land
- Factory Premises
- Plant and Machinery
- Vehicles
- Furniture and Fixture
- Office Equipments
- Computer
- Laboratory Equipment
- Electrical Fittings
- Air Conditioner
- Fire Extinguishers
Valuation of Plant
and Machinery, belonging to M/s Anuvi Chemicals Private Limited located at W-71
[B] and 71 [Part], MIDC Badlapur, District – Thane - 421503
|
Name of the Owner |
Anuvi Chemicals Private Limited |
|
|
|
|
|
|
Year of Construction |
Year 1990 – Phase I Year 2007 – Phase II (Under Construction) |
|
|
|
|
|
|
Estimated Residual Life |
43 years for Phase I 60 years for Phase II |
|
|
|
|
|
|
Year of Lease Agreement |
Plot No. W – 71 (B), Ninety Five Years Computed from the first day of October – 1982 Plot No. W – 71/Pt Ninety Five Years Computed from the first day of February - 2004 |
|
|
|
|
|
|
Plot Area : |
Plot No. W – 71 (B), 0720.00
sq. meters Plot No. W – 71/Pt, 0662.00
sq. meters
-----------------------
1382.00 sq. meters |
|
|
|
|
|
|
Locations |
This premises is located in well developed Industrial area with all
necessary industrial infrastructure. The site is around 2 km. from Badlapur
Railways station of Central Railway. Transport and communication facilities
are well developments which are including state transport services and other
public transports. |
|
|
|
|
|
|
Boundary |
Plot No W – 71
(B) |
Plot No. W –
71/Pt |
|
On or towards the North |
Plot No. W – 71 (B) |
Plot No. OS – 7 Pt |
|
On or towards the East |
MIDC Internal Road |
Plot No. W – 71 |
|
On or towards the West |
Open Space |
MIDC Internal Road |
|
On or towards the South |
Plot No W – 70 (B) |
Plot No. OS - 7 |
|
|
|
|
|
Phase of Construction |
|
|
|
1.0 Phase I |
This shade is being used for chemical manufacturing purpose Equipped
with Laboratories. MCC Roam, RM/ FG Storage, Reactors, Generator, Boilers
House, ETP Plant, General Office and Workers Toilet Block. It is a RCC Structure with asbestos Roof on trusses. Production area: Max Height 11.00 and Mini Height 9.00 meter Laboratory: 2.75 meter Flooring is made up of concrete, Industrial Type Reactors are mounted on steel structure with MS/ Checkered Plate. |
|
|
|
|
|
|
2.0 Phase II |
This building is being constructed for arranging the manufacturing
process flow. RCC structure having Ground + First Floor with Slabs and Beams Fitted
with asbestos Roof All the External walls are made up of 9” thick and internal walls are made
up of 4 ˝” thick brick masonry with cement plaster Ceiling Height is 4.5 meters on ground floor and on first floor
minimum 3.5 and maximum 5.5 meters with sloping roof. Present status – 80% work has been competed. Electrical caballing, Flooring, Doors, Windows and Toilet Block and
Plumbing are to be completed. |
|
|
|
|
|
|
Other Development |
a – Security Cabin, Area 5.00 sq. meters. RCC Structure b – Septie Tank and Soak Pit c – Under Water Tank: 14.4 Cubie Meters d – Pump House e – Boiler House – Non IBR f – Brick wall having average height of 1.50 meter and Running length
of 100.00 meter. g – MS Gates: 2 no of 3 and 4 maters wide front and rear side h – Effluent Storage Plant in RCC i – RCC Foundation for Generator j – RCC Foundation for Storage Tank: 2. no |
|
|
|
|
|
|
In view of the location and type of construction and facilities
provided to this premises, the prevailing market rate is for |
||
|
Plot : |
Rs.8000/- per sq. meters |
|
|
Phase I: RCC/ MS Structure with Asbestos Roof |
Rs.6500/- per sq. meters |
|
|
Phase II: RCC – Partly with Asbestos Roof |
Rs.8500/- per sq. meters |
|
|
|
|
|
|
Hence the valuation of this Industrial Establishment is = Sq. Meters X Rs/- |
||
|
MIDC Industrial Plot |
1382.00 sq. ft. X Rs.8000/- = Rs.11.056 Millions |
|
|
Phase - I |
387.19 sq. ft. X Rs.6500/- = Rs.2.517 Millions |
|
|
Phase - II |
462.33 sq. ft. X Rs.8500/- X 0.80 = Rs.3.144 Millions |
|
|
Security Cabin, Limp sum amount is considered |
= Rs.0.030 Million |
|
|
Septic Tank, Lump sum amount is considered |
= Rs.0.060 Million |
|
|
Underground Water Tank, Lump sum amount is considered |
= Rs.0.040 Million |
|
|
Pump House, Lump sum amount is considered |
= Rs.0.025 Million |
|
|
Boiler House, Lump sum amount is considered |
= Rs.0.050 Million |
|
|
Compound Wall, Lump sum amount is considered |
= Rs.0.075 Million |
|
|
MS Gates, Lump sum amount is considered |
= Rs.0.020 Million |
|
|
ETP, Lump sum amount is considered |
= Rs.0.100 Million |
|
|
RCC Foundations, Lump sum amount is considered |
= Rs.0.075 Million |
|
|
Total |
= Rs.17.192
Millions |
|
Therefore total Valuation = Rs.17.192 Millions
Their valuation is based on present day market price. The premium available in the market for the location is considered for this valuation.
At the time of their visit, they found that the machines are in working conditions.
The technical details of the machines along with their valuation are as per Annexure A of the report. Also attached Machinery Photographs.
The above report is based actual inspection carried out at site to the best of their knowledge and ability and is without prejudice.
Purpose of Valuation:
to Ascertain the present day Market Value
The total valuation of the machinery is adding
(I) Processing Equipments + (II) Electrical Fitting + (III) Lab Equipment i.e.
Rs.9.262 Millions + Rs.0.572 Million + Rs.0.131 Million
= Rs.9.964 Millions
AS PER WEBSITE DETAILS
History
Since 1989
v Subject has been developing Innovative Speciality products and Customized Solution for Paints, Water Based Inks, Leather, Flocked textiles and Construction.
1989-94
v Engaged in the manufacture of specialty customised polymer emulsion for a Leading Exterior Paint manufacturing company.
1995
v New Era for ANUVI : ACPL started marketing its own products
1997 - RESIKON
Construction Chemical Systems was launched
v Bulk manufacturer
v In house technical capabilities
v Easily customize products
v Cost effective yet excellent quality
Today - 2 Divisions,
5 Brands
v Industrial Emulsions
v Construction Chemicals
Clientele
v
Clients All Over
v Large corporate manufacturers
Profile
Subject is a specialty chemicals and Materials Company focused on developing, manufacturing and selling value-added products. The products serve a diverse range of end markets including paint, non-woven textiles, leather, and construction.
They use the technology and application development expertise to create chemical and material solutions that are formulated to perform specific and important functions in the finished products of the customers.
The leadership stems from the commitment to the customers. They are dedicated to helping them achieve their business objectives by developing high-quality products that improve their products and manufacturing process performance. Subject network of applications specialists provides cutting-edge technical support to customers around the world.
Technical Collaboration
Subject has Swedish technical collaboration for speciality polymers used in construction industry. Technical superiority enables them to produce global quality construction chemicals.
Business
Subject is one of
The products reach almost all over
At the company, service means understanding each customer's needs and providing solutions in a timely manner. The ISO-certified facilities manufacture a variety of products to serve a broad range of applications.
Through an unwavering focus on Quality, Commitment and Delivery, they have charted the way to success in the operations and have won the admiration of the customers. The success is built on the strong pillars of innovation, quality, and dedicated customer service. By incorporating these and other business strengths, they have boosted the capabilities to maintain the leading edge in the industry and earn the loyalty of the customers.
Anthem
In the race for corporate supremacy it is the anticipators rather than the reactors, who stand out as winners. It is not so much being at the right time... but creating the right place and time.
At ANUVI, their credo is to be proactive, hence in their
endeavor to surge ahead, harvesting opportunity is their forte.
Enterprism
At ANUVI, proactivism is actualized by -
Customisation
Understanding their customers and providing significant value addition by customising their products to suit their needs.
Responsiveness
Products development team's quick silver responsiveness in converting bench scale synthesis to full fledged production.
Quality Management
ANUVI is ISO 9001 - 2000 company. Committed to provide consistent quality by harnessing modern quality management techniques.
Customer Service
Their sales team is in constant touch with the customers, endeavoring to provide total customer satisfaction.
Manufacturing
v
Factory situated about 70 KM from Mumbai in the
well developed industrial
v State of the art manufacturing facilities, managed by qualified engineers.
v Off the shelf availability of finished products.
v Proximity to JNPT port is an advantage for exports.
Research and
Development
Subject is pivotal strength is technology and R and D. With more than four decades of rich experience in polymer and allied fields, Dr. Krishna K. Saxena and Prof. V C Malshe marshal R and D activities adroitly.
Subject is a dedicated fully equipped Quality Assurance Laboratory with a team of specialists and chemists ensures process control and quality standards. Subject has a strong association with premier academic and research institutions. Their professional assistance is availed of in product development and application testing.
Subject manufactures wide range of products based on polymers and
their formulations which are widely accepted in the industry due to their
quality and complete technical service which the company provides.
Subject's products and business activities are broadly divided into
two business groups as:
SPECIALITY INDUSTRIAL POLYMER EMULSIONS:
ANUVI manufactures environment
friendly products based on Acrylic Emulsion technology for industries like:
- Paints & coatings
- Water based inks & varnishes
- Paper
- Flocking & non-woven textiles
- Leather finishing
RESIKON CONSTRUCTION CHEMICAL
SYSTEMS DIVISION:
Anuvi's Construction Chemical
Systems Division includes speciality polymers & products based on addition
and condensation polymer chemistry. The product range offers the complete
solutions for new constructions as well as repair, rehabilitation and
restoration of old and heritage structures.
They are one of the few producers
and suppliers of bulk polymers for construction Industry.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
The 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.
The 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.49.95 |
|
|
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.63.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
|