MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BENZO CHEM INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
Madhukunj, Ground Floor, Shankar Ghanekar Marg, Prabhadevi,
Mumabi-400425, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.12.1986 |
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Com. Reg. No.: |
11 - 41751 |
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CIN No.: [Company
Identification No.] |
U24100MH1986PTC041751 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB11878G |
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PAN No.: [Permanent
Account No.] |
AAACB3369G |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer, Exporter and Importer of Chemical Products |
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 510000 |
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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 well – established company having satisfactory track. Directors are reported as experienced, respectable businessmen. Their trade relations are fair. Payments are correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Anmol |
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Date : |
28.06.2008 |
LOCATIONS
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Registered Office : |
Madhukunj, Ground Floor, Shankar Ghanekar Marg, Prabhadevi,
Mumabi-400425, Maharashtra, India |
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Tel. No.: |
91-22-24370553 |
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Fax No.: |
91-22-24320924 |
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E-Mail : |
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Factory : |
Located at:- E-13, MIDC Area, Jalgaon- 425003, Maharashtra, India |
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Tel. No.: |
91-257-2210241 |
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Fax No.: |
91-257-2210441 |
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Area : |
8100 Sq. ft (Owned) |
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Factory: |
B-26/27, MIDC Area, Dasarkhed, Malkapur - 443101, Buldhana, Maharashtra |
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Tel. No.: |
91-7267-252365 |
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Fax No.: |
91-7267-252341 |
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Area : |
24000 Sq. ft (Owned) |
DIRECTORS
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Name : |
Mr. Surendra Kumar Mohatta |
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Designation : |
Director |
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Address : |
31, Lotus Court, 14, J Tata Road, Churchgate, Mumbai-400026,
Maharashtra, India |
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Date of Birth/Age : |
01.09.1955 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.12.1986 |
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Name : |
Mr. Gaurav Mohata |
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Designation : |
Director |
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Address : |
31, Lotus Court, 14, J Tata Road, Churchgate, Mumbai-400026,
Maharashtra, India |
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Date of Birth/Age : |
03.07.1981 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.11.2004 |
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Name : |
Mrs. Madhu Mohatta |
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Designation : |
Director |
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Date of Birth/Age : |
52 Years |
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Qualification : |
Graduate |
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Name : |
Mrs. Vimladevi Mohatta |
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Designation : |
Director |
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Address : |
31, Lotus Court, J. Tata Road, Churchgate, Mumbai - 400020, Maharashtra |
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Date of Birth/Age : |
64 years |
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Qualification : |
B. Com |
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Experience : |
20 years |
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Name : |
Mr. S. S. Daga |
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Designation : |
Director |
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Address : |
B-13, D. Shiv Marg, Bani Park, Jaipur, Rajasthan |
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Date of Birth/Age : |
60 yeas |
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Qualification : |
B. Com |
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Experience : |
10 yeas |
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Name : |
Dr. V. S. Mulgaonkar |
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Designation : |
Technical Director |
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Address : |
103-A, Mithia Apartments, Near Jain Temple, J. B. Nagar, Andheri (East), Andheri Kurla Road, Mumbai - 400059, Maharashtra |
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Date of Birth/Age : |
53 years |
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Qualification : |
Ph. D |
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Experience : |
25 years |
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Name : |
Mr. Krishnakumar Moondra |
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Designation : |
Director |
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Address : |
11, Hingorani House, Dr. A. B. Road, Worli, Mumbai - 400018, Maharashtra |
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Date of Birth/Age : |
58 years |
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Qualification : |
B. Com |
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Experience : |
5 years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.03.2007
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List of Allottees |
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No. of Shares Alloted |
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Rajiv Kumar Mohatta (HUF) |
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199000 |
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Surendra Kumar Mohatta |
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199000 |
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Madhu Mohatta and S. K. Mohatta |
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131000 |
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Vimla Devi Mohatta |
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199000 |
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Surendra Kumar Mohatta (HUF) |
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180000 |
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Satyawati Devi Mohatta |
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12000 |
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Gaurav Rubber Works Private Limited |
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195000 |
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Gaurav Mohatta |
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190000 |
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Gitanjali Chemicals Private Limited |
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290000 |
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Surender Kumar Mohatta ( Partner Raj Rajeshwari Builders |
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180000 |
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Ravi Kumar Mohatta |
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199000 |
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Madhu Mohatta |
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199000 |
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Surender Kumar Mohatta (Partner Ajanta Traders) |
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77000 |
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Surendra kumar Mohatta and Ravikumar Mohatta |
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250000 |
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Total |
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2500000 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
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Category |
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Percentage |
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Bodies corporate (not mentioned above) |
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11.75 |
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Directors or relatives of directors |
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88.25 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Chemical Products |
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Products : |
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Exports : |
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Products : |
Chemical Products |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China and Taiwan |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
35 |
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Bankers : |
Canara Bank, Parel Branch, 12, G.S. Lane, Parel, Mumabi-400012,
Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. Saboo and Company Chartered Accountant |
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Address : |
D-9/002, Yogi Nagar, Borivali (west), Mumbai-400091, Maharashtra,
India |
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Tel. No.: |
91-22-28980943 |
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Fax No.: |
91-22-28983624 |
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Associates/Subsidiaries : |
Geetanjali Chemicals, E-35, MIDC Area, Jalgaon |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs. 10/- each |
Rs. 35.000 Millions |
|
500000 |
Preference Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
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Total |
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Rs. 40.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs. 10/-
each |
Rs. 30.000
Millions |
|
500000 |
Preference Shares |
Rs. 10/-
each |
Rs. 5.000
Millions |
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Total |
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Rs. 35.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
35.000 |
22.500 |
22.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
68.250 |
59.656 |
35.402 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
103.250 |
82.156 |
57.902 |
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LOAN FUNDS |
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1] Secured Loans |
15.293 |
20.685 |
23.235 |
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2] Unsecured Loans |
43.474 |
40.029 |
31.321 |
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TOTAL BORROWING |
58.767 |
60.714 |
54.556 |
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DEFERRED TAX LIABILITIES |
4.445 |
3.805 |
4.319 |
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TOTAL |
166.462 |
146.675 |
116.777 |
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APPLICATION OF FUNDS |
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51.164 |
48.579 |
45.932 |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
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14.588 |
0.500 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
42.939
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52.845 |
35.932 |
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Sundry Debtors |
53.129
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53.479 |
50.693 |
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Cash & Bank Balances |
12.234
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15.629 |
7.407 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
61.502
|
43.725 |
18.304 |
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Total
Current Assets |
169.804
|
165.678 |
112.336 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
26.770
|
36.047 |
22.875 |
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Provisions |
43.435
|
32.035 |
18.616 |
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Total
Current Liabilities |
70.205
|
68.082 |
41.491 |
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Net Current Assets |
100.599
|
97.596 |
70.845 |
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MISCELLANEOUS EXPENSES |
0.111 |
0.000 |
0.000 |
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TOTAL |
166.462 |
146.675 |
116.777 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover |
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269.460 |
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Other Income |
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0.000 |
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Total Income |
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269.460 |
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Profit/(Loss) Before Tax |
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28.562 |
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Provision for Taxation |
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|
9.265 |
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Profit/(Loss) After Tax |
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19.297 |
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Total Expenditure |
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240.898 |
KEY RATIOS
|
PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
N.A
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N.A |
7.16 |
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Net Profit Margin (PBT/Sales) |
(%) |
N.A
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N.A |
10.59 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
N.A
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N.A |
18.04 |
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Return on Investment (ROI) (PBT/Networth) |
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N.A
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N.A |
0.49 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.24
|
1.47 |
1.65 |
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Current Ratio (Current Asset/Current Liability) |
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2.48
|
2.43 |
2.70 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
|
90235813 |
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Corporate
identity number of the company |
U24100MH1986PTC041751 |
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Name of the
company |
BENZO CHEM INDUSTRIES PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
Madhukunj, Ground Floor, Shankar Ghanekar Marg, Prabhadevi,
Mumabi-400425, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Canara Bank,
Parel Branch, 12, G.S. Lane, Parel, Mumabi-400012, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement |
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Date of
instrument Creating the charge |
27.12.2007 |
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Amount secured by
the charge |
Rs. 32.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 5.25% p.a.
below/ above on going Bechmark PLR with a minimum of 8% p.a. compounded
monthly/ quarterly. Terms of
Repayment On demand Margin Margin as may be
stipulated by Bank from time to time. Extent and
Operation of the charge The facility
together with interest/ commission, costs, charge, expenses and other monies
payables thereunder shall be secured against the property specified under
item no. 14 |
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Short particulars
of the property charged |
Hypothecation of
stock of raw materials, stock in process finished stocks and book debts of
company lying at plot no. E, Jalgaon MIDC and Plot No. 26/27, MIDC, Malkapur |
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Date of latest
modification prior to the present modification |
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Particulars of
the present modification |
The Bank has increased
the credit facility by way of adhoc PC/FBE, thereby the charge now stand
secured to Rs. 32.500 Millions |
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Name of the company |
BENZO CHEM INDUSTRIES PRIVATE LIMITED |
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Presented By |
Canara Bank and Benzohem
Industries Private Limited |
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1) Date and description of instrument creating the change |
Dated 03.012.1997
Cash Credit Agreement |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 10.000
Millions |
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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 |
Hypothecation of
stock raw materials, stock in process, finished stock and book debts of
company lying at Plot No. E 15, Jalgaon, MIDC and Plot No. 26/27 MIDC
Malkapur |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @16.85%
p.a |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Parel
Branch, 12, G.S. Lane, Parel, Mumabi-400012, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
Dated 25.10.2005,
Supplement Agreement |
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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. |
Past Modification The original
charge created on 03.12.1997 for Rs. 1000.000 Millions was modified on
31.03.1999 for Rs. 33.000 Millions (including open Cash Credit limit of Rs.
10.000 Millions) Further modified
on 22.10.2005 thereby renewed / revised open cash credit limit from Rs.
10.000 Millions to Rs. 9.000 Millions Present Modification The bank has
increased the open Cash Credit Limit form Rs. 9.000 Millions to Rs. 10.000
Millions All other terms
and conditions are remain same. |
AS PER WEBSITE
INTRODUCTION:
Subject and
Gitanjali Chemicals Private Limited (GCPL) are the two companies floated by Mr.
R.K. Mohatta's group of companies. The factories are located in Jalgaon
District, 450 kms away from Mumbai in Maharashtra State.
GCPL was started in 1982 for manufacturing phthalate plasticizer but later a
new plant was constructed in 1994 for the manufacturing of Chloro Phenol
Derivatives and Diclofenic Sodium intermediates.
Subject was started in 1987 for the manufacture of Para Chloro Benzyl Chloride
and Para Chloro Benzyl Cyanide. But later on Subject has developed and
commissioned complete series of derivatives based on Para Chloro Toluene, Ortho
Chloro Toluene, Meta Chloro Toluene, 2:4 Dichloro Toluene and 3:4 Dichloro
Toluene.
PRODUCTION CAPACITY:
Total production capacity is 2400 MT / annum and plant is having various sizes of
Glass Lined reactors ranging from 500-3000 Ltrs. S.S. Reactors, Auto claves,
S.S. Fractional Distillations having sulzer packing with internals, etc.
REACTION HANDLE IN PLANT:
1.
Chlorination
by Chlorine (Nuclear / Photo)
2.
Chlorination
by Sulphonyl Chloride
3.
Cyanation
4.
Hydrolysys by
Alkali / Acid
5.
Acid Chlorides
with Thionyl Chloride
6.
Cyclisation
with Aluminium Chloride
7.
Friedel Crafts
Reaction
8.
Methylation
with Dimethyl Sulphate
9.
Oxidation with
Magnate Dioxide
10.
Esterification
11.
Benzoylation /
Acylation
R&D AND
QUALITY CONTROL LABORATORIES:The
products manufactured in thier plants were developed indegeniously which is
fully equipped with instrumentation. The quality control lab is also equipped
with all the instrumentations and product is being tested at various levels
during the production stage and also at finished stage before dispatch. The lab
has set various parameters of testing to avoid rejection of the products and to
meet international standards.
EFFLUENT TREATMENT PLANT:
All the plants are provided with effluent treatment plant facilities designed
for primary treatment for neutrilisation and secondary treatment for
Bio-Degradability for organic matter with activated Biological treatment. The
effluent coming out from the plant is meeting the parameter laid down by
regional government authorities.
MANPOWER:
The total manpower employed in the factories are 120 workers including skilled
and unskilled.
TURNOVER AND EXPORT:
Total turnover is around US Dollars 5 million, out of that nearly 40% is exported
to various countries.
Products :