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MIRA
INFORM REPORT
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Report Date : |
03.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHT (INDIA) PRIVATE LIMITED |
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Registered Office : |
Plot No. T – 26, MIDC Taloja Industiral Area, Taloja – 410208, Tauka
Panvel, District Raigad - 410208,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.06.2006 |
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Date of Incorporation : |
23.05.1996 |
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Com. Reg. No.: |
11-149192 |
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CIN No.: [Company
Identification No.] |
U24231GJ19996PTC029718 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC12515G |
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PAN No.: [Permanent
Account No.] |
AAACC3596Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Speciality Chemicals |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 694284 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a company of German affiliates. Available information
indicates high financial responsibility of the company. Trade relations are fair.
Business is active. Payments are reported as usually correct and as per
commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office/ Factory : |
Plot No. T – 26, MIDC Taloja Industiral Area, Taloja – 410208, Tauka
Panvel, District Raigad - 410208,
Maharashtra |
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Tel. No.: |
91-22-30986370/66910068 |
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Email: |
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Head Office : |
352, Solitaire Corporate Park, 151, M.V. Road, Chakala, Andheri
(East), Mumbai – 400093 |
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Tel. No.: |
91-22-56910068 / 70 |
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Fax No.: |
91-22-56910071 |
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E-Mail : |
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Website: |
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DIRECTORS
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Name : |
Dr. Norbert Andreas Weigand , Foreigner |
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Designation : |
Director |
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Address : |
Cottbuser, Weg 15, 72108 Rottenburg, Germany |
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Date of Birth/Age : |
15.08.1945 |
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Date of Appointment : |
2305.1996 |
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Name : |
Mr. Mahendra Nanji Tanna |
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Designation : |
Director |
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Address : |
B / 308, Royal Towers, IC Colony, Borivli (West), Mumbai – 400103 |
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Date of Birth/Age : |
05.09.1956 |
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Date of Appointment : |
05.07.2001 |
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Name : |
Dr. Bernhard Hettich, Foreigner |
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Designation : |
Director |
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Address : |
72135, Dettenhausen, Im Brennofen 10 |
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Date of Birth/Age : |
15.06.1958 |
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Date of Appointment : |
30.07.2002 |
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KEY EXECUTIVES
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Name : |
Shrish Shetye and Associates |
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Designation : |
Company Secretary |
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Address : |
605, Vastu Riddhi, A Shree Vastu Enclave, Rajmata Jijabai Marg, Pump
House, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Tel No.: |
91-22-24593264/28322777 |
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Fax No.: |
91-22-28322780 |
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Email: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Rbbeitlech Industries Beteilg Ungen
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999990 |
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Mr. Mahendra Nanjibhai Tanna |
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10 |
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Total |
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1000000 |
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Category |
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Percentage of
Holding |
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Foreign Holdings (FIIs / Fcs / FFIs / NRIs / OCBs) |
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100 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer of Speciality Chemicals |
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Products : |
·
Coating ·
Dyeing ·
Dyestuff Printing ·
Fibre Auxiliaries ·
Finishing ·
Garment ·
Pigment printing ·
Pretreatment ·
Screen printing / Flock |
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GENERAL
INFORMATION
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Bankers : |
IDBI Bank Limited Marigold House,
plot No. A- 34, Cross Road No. 2, MIDC, Marol Andheri (East), Mumbai –
400093, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Hemani and Company Chartered Accountants |
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Address : |
503, Vastu Shubh, Rajmata Jijabai Road, Pump House, Andheri (E),
Mumbai – 400093, Maharashtra, India |
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Subsidiaries: |
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Holding Company: |
R B Beitlich Industries Beteilguneen |
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Address: |
Bismar Ckstrable 102, D – 72072, Tubingen, Germany |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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10.000 |
10.000 |
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2] Share Application Money |
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25.000 |
10.000 |
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3] Reserves & Surplus |
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138.571 |
111.692 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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173.571 |
131.692 |
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LOAN FUNDS |
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1] Secured Loans |
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2.177 |
7.416 |
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2] Unsecured Loans |
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95.132 |
97.980 |
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TOTAL BORROWING |
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97.309 |
105.396 |
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DEFERRED TAX LIABILITIES |
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2.671 |
4.235 |
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TOTAL |
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273.551 |
241.323 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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108.021 |
108.464 |
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Capital work-in-progress |
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0.000 |
4.282 |
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Pre-Operative Expenses |
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0.006 |
0.006 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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43.604 |
40.345 |
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Sundry Debtors |
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154.747 |
117.195 |
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Cash & Bank Balances |
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9.393 |
0.265 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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57.103 |
34.177 |
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Total
Current Assets |
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264.847 |
191.982 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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56.558 |
38.851 |
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Provisions |
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42.765 |
25.250 |
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Total
Current Liabilities |
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99.323 |
64.101 |
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Net Current Assets |
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165.524 |
127.881 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.690 |
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TOTAL |
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273.551 |
241.323 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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291.387 |
209.779 |
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Other Income |
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1.052 |
0.000 |
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Total Income |
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292.439 |
209.779 |
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Profit/(Loss) Before Tax |
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42.830 |
38.024 |
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Provision for Taxation |
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15.951 |
13.819 |
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Profit/(Loss) After Tax |
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26.879 |
24.205 |
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Export Value |
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6.888 |
6.274 |
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Import Value |
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40.107 |
51.206 |
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Expenditures : |
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N.A. |
N.A. |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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9.19 |
11.54 |
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Net Profit Margin (PBT/Sales) |
(%) |
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14.69 |
18.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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11.48 |
12.65 |
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Return on Investment (ROI) (PBT/Networth) |
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0.25 |
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.13 |
1.28 |
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Current Ratio (Current Asset/Current Liability) |
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2.66 |
2.99 |
LOCAL AGENCY
FURTHER INFORMATION
The registered office
of the company has changed from:
Plot No. 294, Narol Mumbai Highway, Opp. Shahwadi Bus Stop, Ahmedabad - 382405, Gujarat
To
Plot No. T – 26, MIDC Taloja Industiral Area, Taloja – 410208, Tauka Panvel, District: Raigad - 410208, Maharashtra
(With effect from 11.08.2004)
Company Details:
Subject was
established in 1996.CHT India is
a sister company of CHT
R.Beitlich GmbH. CHT R. Beitlich
GmbH is the operative core Group company within worldwide CHT Group of companies.
CHT Group of Companies are controlled by
Management Board supervised by Beitlich Family Foundation.
CHT R. Beitlich Gmbh celebrated their Golden Jubilee in 2003.
Core Business
Subject manufactures products which add value to
different kind of textiles on their journey to top of Value chain.
Application fields of their products
are Pretreatment,
Dyeing, Finishing, Textile printing, Flocking of surfaces as well as Textile Coating.
They research, develop and
manufacture high quality products. They evolve product attributes which
meet required demands by their customers for optimization of their processes
and to meet Global Obligation to the
Environment.
Quality and Environmental Responsibility
R. Beitlich GmbH has developed an integrated management system which
combines Quality,Safety and Environment management The CHT quality and
environmental policy which has been practiced for years is acknowledged by the
certification of quality management by international Agencies.
CHT India Manufacturing Site At Taloja,
MIDC,New Mumbai
CHTestablished their production facility in
August 2003.The facility can produce upto 12000 MTs of chemicals annually. The
production is very modern and advanced technology layout over 15000 Sq.Meters
of land
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Name of the company |
CHT (INDIA)
PRIVATE LIMITED |
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Presented By |
Mahendran Tanna |
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1) Date and description of instrument creating the change |
21.12.2001 Agreement of Hypothecation
of Goods and Assets |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.15.000
millions Together with
interest, cost, charges, expenses and all other monies payable by company to
the IDBI Bank Limited under facilities agreement dated – 21.12.2001 |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First charge on
all present and future goods of the borrower company including but not
limited to documents of title of the goods, outstanding moneys, receivable by
way of cash assistance and / or cash incentive claims by way of refund of
customs / excise duties under the duty drawback credit scheme or any other
scheme, bills, invoices documents, contract, insurances, polices, guarantees,
engagements, securities, investments and rights. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Company’s Assets
as detailed in item number 3 above are charged to the Bank as security
against the working capital facilities sanctioned by the bank together with
interest charges, cost, expenses and other monies payable by the company in
terms of the above said facilities agreement. Terms and
conditions Individual
facilities break up within the total limit of Rs.15.000 millions Cash Credit: upto
Rs.15.000 millions Export packaing
credit: upto Rs.5.000 millions FBP: Upto
Rs.5.000 millions. Default interest
@4% over and above normal interest rate. Margin 25% on
stocks and Book Debts. |
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5) Name and Address and description of the person entitled to the charge. |
IDBI Bank limited Marigold House,
plot No. A- 34, Cross Road No. 2, MIDC, Marol Andheri (East0, Mumbai – 400093 |
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6) Date and brief description of instrument modifying the charge |
Supplement
agreement and hypothecation of goods and assets dated – 31.10.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The original
charges created on 21.12.2001 for Rs.15.000 millions is now modified by
enhancing credit limit by Rs.25.000
millions aggregating toRs.40.000 millions |
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.39.43 |
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UK Pound |
1 |
Rs.78.34 |
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Euro |
1 |
Rs.57.76 |
RATING
EXPLANATIONS
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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 |
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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 |
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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/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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