MIRA
INFORM REPORT
|
Report Date : |
30.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BASF INDIA LIMITED |
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Registered Office : |
RBC, Mahindra Towers, 1st Floor, A Wing, Dr. G M Bhosale
Marg, Worli, Mumbai – 400018, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.05.1943 |
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Com. Reg. No.: |
003972 |
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CIN No.: [Company
Identification No.] |
L33112MH1943FLC003972 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB00133A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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Line of Business : |
Manufacturing and marketing of expandable polystyrene (styropor),
carbendazim, leather auxiliaries (organic chemicals), oil and well chemicals,
leather auxiliaries, finishing agents and pigments, leather chemicals and
auxiliaries including metal complex, dyes and acrylic polymers, pesticides
and dyestuffs and other chemicals. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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Maximum Credit Limit : |
USD 43809000 |
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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 part of multinational BASF Group. Available information indicates
high financial responsibility of the company. Financial position of the
company is good. Business is active. Payments are always correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
RBC, Mahindra Towers, 1st Floor, A Wing, Dr. G M Bhosale
Marg, Wor, Mumbai 400018, Maharashtra, India |
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Tel. No.: |
91-22-56618000 |
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Fax No.: |
91-22-24930653 |
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E-Mail : |
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Website : |
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Works / Factory : |
v Thane Belapur
Road, Turbhe, Navi Mumbai – 400705, Maharashtra,
India
Tel. No. 91-22-55917400
Fax. No. 91-22-55917230 v Bala Thokur Village, Surathkal-Bajpe Road,
Mangalore Taluka,
Dakshina Kannada District, Karnataka, India v 83/2, Demni
Village, Dena Bank Road, Dadra – 396 191, Union
Territory of Dadra and Nagar Haveli, India v Village Dahej,
Taluk Vagra, Dist. Bharuch – 392130, Gujarat, India
Tel. No. 91-2641-256021
Fax. No. 91-2641-256022 |
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Head Office : |
v RBC, Mahindra
Towers, ‘A’ Wing, 1st Floor, Dr. G. M. Bhosale Marg,
Worli, Mumbai – 400018, Maharashtra
Tel. No. 91-22-56618000
Fax. No. 91-22-24950512 v Thane Belapur
Road, Turbhe, Navi Mumbai – 400705, Maharashtra
Tel. No. 91-22-55917400
Fax. No. 91-22-55917230 |
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Branches : |
Located at v Surathkal-Bajpe
Road, Bala – 574149, Via Katipalla, Mangalore,
Karnataka, India
Tel. No. 91-824-270670
Fax. No. 91-824-270025 v Ashram Road, Karaka
Building, Navrangpura, Ahmedabad – 380009,
Gujarat
Tel. No. 91-79-26583074
Fax. No. 91-26581447 v 13/A, Government
Place East, Chennai – 600086, Tamilnadu
Tel. No. 91-33-22201354
Fax. No. 91-33-22480854 v 46, Cathedral Road,
Chennai – 600086, Tamilnadu
Tel. No. 91-44-28113561
Fax. No. 91-44-28115956 v 203, Demni
Village, Dena Bank Road, Dadra – 396191, Union
Territory of Dadra and Nagar Haveli
Tel. No. 91-260-2668937
Fax. No. 91-260-2668652 v 502A, 5th
Floor, 3-6-237-Lingapur La Building, Himayat Nagar,
Hyderabad – 500029, Andhra Pradesh
Tel. No. 91-40-23226166 v Plot No. C-12,
150 Feet Road, Jajmau, Kanpur – 208010, Uttar
Pradesh
Tel. No. 91-512-2461732 v 17-18, Kailash Enclave,
Lala Lajpat Rai Marg, New Delhi – 110048
Tel. No. 91-11-51596400
Fax. No. 91-11-51596496 v Post Box No.
7304, Lal Bahadur Shastri Marg, Bhandup (West),
Mumbai – 400078, Maharashtra
Tel. No. 91-22-25461471
Fax. No. 91-22-25644351 v 147, Mumbai –
Pune Road, Pimpri, Pune – 411018, Maharashtra
Tel. No. 91-20-27469681
Fax. No. 91-20-27464083 |
DIRECTORS
|
Name : |
Mr. Prasad Chandran |
|
Designation : |
Chairman and Managing Director |
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Qualification : |
B.Sc. (Hons.), Diploma in Industrial Chemistry, M.B.A. |
|
Experience : |
29 Years |
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Date of Appointment : |
02.04.2000 |
|
Previous Employment: |
Searle India Limited – Executive Director (2 years) |
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Name : |
Mr. R. E. Vaz |
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Designation : |
Chief Executive – Performance Chemicals |
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Date of Appointment : |
01.10.1999 |
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|
Name : |
Mr. S. Kumarasamy |
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Designation : |
Chief Executive – Crop Protection Chemicals |
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Date of Appointment : |
18.01.2002 |
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Name : |
Dr. Harald Lauke |
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Designation : |
Director |
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Date of Appointment : |
01.10.2002 |
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Name : |
Dr. E. Baumgartner |
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Designation : |
Director |
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Date of Appointment : |
17.04.2002 |
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Name : |
Mr. Boon Yeow Yee |
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Designation : |
Director |
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Date of Appointment : |
21.04.2004 |
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Name : |
Mr. K. R. Coorlawala |
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Designation : |
Director |
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Date of Appointment : |
10.02.1975 |
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Name : |
Mr. Pradip P. Shah |
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Designation : |
Director |
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Date of Appointment : |
31.01.2000 |
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Name : |
Mr. R. A. Shah |
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Designation : |
Director |
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Date of Appointment : |
25.04.1968 |
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|
Name : |
Mr. R. R. Nair |
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Designation : |
Director |
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Date of Appointment : |
30.03.2001 |
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|
Name : |
Mr. L. S. Naik |
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Designation : |
Chief Executive – Dispersions,
Specialities, Pigments and Printing Inks |
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Date of Appointment : |
01.10.1999 |
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|
Name : |
Dr. W. Burgert |
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Designation : |
Director |
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Date of Appointment : |
01.10.1999 |
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|
Name : |
Mr. E. Hilgemann |
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Designation : |
Director |
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Date of Appointment : |
28.07.1998 |
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|
Name : |
Mr. S. Ramnath |
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Designation : |
Director |
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Name : |
Mr. Tilman Krauch |
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Designation : |
Director |
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|
Name : |
Mr. Rainer Diercks |
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Designation : |
Director |
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|
Name : |
Mr. Raman Ramachandran |
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Designation : |
Director |
|
Name : |
Mr. Deepak Thuse |
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Designation : |
Director |
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Name : |
Mr. S. Khanolkar |
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Designation : |
Director |
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|
Name : |
Mr. Dr. G. Ramaseshan |
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Designation : |
Director |
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Name : |
Mr. R. Y. Vaidya |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. M. R. Iyer |
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Designation : |
Company Secretary
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on
31.03.2007)
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Foreign Promoters |
14853020 |
52.69 |
|
Directors and
relatives of Directors |
450 |
0.00 |
|
NRIs, OCBs and
FIIs |
1126204 |
4.00 |
|
Financial
Institutions and Mutual Funds |
4016904 |
14.25 |
|
Nationalised and
Other Banks |
35186 |
0.12 |
|
Domestic
Corporate Bodies |
1005674 |
3.57 |
|
General Public
including shares in transit |
7152710 |
25.37 |
|
|
|
|
|
Total |
28190148 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and
marketing of expandable polystyrene (styropor), carbendazim, leather
auxiliaries (organic chemicals), oil and well chemicals, leather auxiliaries,
finishing agents and pigments, leather chemicals and auxiliaries including
metal complex, dyes and acrylic polymers, pesticides and dyestuffs and other
chemicals. |
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Products : |
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PRODUCTION STATUS
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Expandable Polystyrene (Styropor) |
MT |
20000 |
13470 |
|
Leather Auxiliaries (Organic Chemicals) |
MT |
15000 |
11195 |
|
Oil & Well Chemicals |
MT |
3250 |
Nil |
|
Leather Auxiliaries, Finishing Agents and Pigments |
MT |
7350 |
5795 |
|
Leather Chemicals and Auxiliaries including Metal Complex Dyes and Acrylic
Polymers |
MT |
22225 |
19732 |
|
Pesticides |
|
|
|
|
Basic Production |
MT |
1670 |
1132 |
|
Formulation |
MT |
-- |
1460 |
|
|
KL |
-- |
3837 |
GENERAL
INFORMATION
|
No. of Employees : |
990 |
|
|
|
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Bankers : |
v
State Bank
of India, Madame Cama Road,
Mumbai-400021, Maharashtra, India v
Mitsui Bank
Limited Fort,
Mumbai-400001, Maharashtra, India v
Union Bank
of India v
Bank of
America N.A., Vereinigte Staaten v
Citibank
N.A. v
Deutsche
Bank v
Standard
Chartered Grindlays Bank Limited v
ABN Amro Bank
N.V. v
HDFC Bank
Limited |
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|
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Facilities : |
Bank Overdraft
/Facilities of Rs.90.500 millions |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Deloitte Haskins
and Sells Chartered
Accountants Internal Auditors : Mahajan and
Aibara Chartered
Accountants |
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Memberships : |
Confederation of
Indian Industry |
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|
|
Associates : |
v
BASF Agro
B.V. v
BASF Kanoo
Gulf Fze v
Bassell
Polyolefin Company, NV v
BASF
Petronas Chemicals SDN v
BASF
Styrenics Private Limited v
BASF AG v
BASF Company
Limited v
BASF Japan
Limited v
BASF
Bangladesh Limited v
P. T. BASF
Indonesia v
BASF Finlay
Private Limited v
Funfte BASF
Projektentwicklungsgesellschaft MBH v
BASF
Corporation v
M. Dohmen
Italia v
BASF Curtex
S.A. v
BASF JCIC
Neopentylglycol Company v
BASCOM AG v
BASF
Industries Private Limited v
BASF Taiwan
Limited v
BASF (Thai)
Limited v
BASF Vita |
|
Subsidiaries : |
v
BASF Curtex
S. A. v
BASF Finlay
Private Limited v
BASF
Phillipines Inc. v
BASF South
East Asia Pte Limited v
BASF Taiwan
Limited v
BASF Uruguay
S. A. v
BASF
(Malaysia) SDN BHD v
PT BASF
Indonesia v
BASF China
Limited v
BASF
Colorants and Chemicals Company Limited v
BASF
Drucksysteme Schweiz GmbH v
Elastogran
GmbH v
Elenac GmbH v
Kali Und
Salz Betelligungs AG v
BASFD
Industries Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.10/- Each |
Rs.300.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
28190000 |
Equity Shares |
Rs.10/- Each |
Rs.281.900
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
281.900 |
281.900 |
281.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2752.100 |
2482.100 |
2253.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3034.000 |
2764.000 |
2534.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
90.500 |
|
|
2] Unsecured Loans |
5.100 |
13.000 |
9.200 |
|
|
TOTAL BORROWING |
5.100 |
13.000 |
99.700 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3039.100 |
2777.000 |
2634.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
995.000 |
639.000 |
769.700 |
|
|
Capital work-in-progress |
49.900 |
65.900 |
13.600 |
|
|
|
|
|
|
|
|
INVESTMENT |
119.000 |
29.500 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1152.600 |
1105.800 |
1198.400 |
|
|
Sundry Debtors |
1450.800 |
1521.400 |
1735.500 |
|
|
Cash & Bank
Balances |
24.400 |
9.200 |
18.500 |
|
|
Other Current
Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans &
Advances |
842.600 |
635.600 |
457.100 |
|
Total
Current Assets |
3470.400 |
3272.000 |
3409.500 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current
Liabilities |
1299.400 |
947.100 |
1317.800 |
|
|
Provisions |
295.800 |
282.300 |
240.400 |
|
Total
Current Liabilities |
1595.200 |
1229.400 |
1558.200 |
|
|
Net Current Assets |
1875.200 |
2042.600 |
1851.300 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3039.100 |
2777.000 |
2634.600 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
8749.600 |
7716.400 |
7401.800 |
|
|
Other Income |
12.200 |
(66.500) |
261.200 |
|
|
Total Income |
8761.800 |
7649.900 |
7663.000 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
779.000 |
703.700 |
598.600 |
|
|
Provision for Taxation |
278.100 |
249.600 |
218.900 |
|
|
Profit/(Loss) After Tax |
500.900 |
454.100 |
379.700 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Manufacturing Expenses |
296.600 |
226.900 |
216.800 |
|
|
Administrative Expenses |
594.400 |
628.900 |
564.400 |
|
|
Raw Material Consumed |
4740.800 |
4061.400 |
4325.000 |
|
|
Excise Duty |
1054.800 |
886.700 |
828.600 |
|
|
Employee cost |
653.000 |
550.400 |
501.700 |
|
|
Miscellaneous expenses |
297.500 |
158.800 |
152.600 |
|
|
Interest |
15.100 |
23.600 |
61.100 |
|
|
Power & Fuel |
221.900 |
189.000 |
170.100 |
|
|
Depreciation & Amortization |
108.700 |
220.500 |
244.100 |
|
Total Expenditure |
7982.800 |
6946.200 |
7064.400 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2007 |
30.09.2007 |
31.12.2007 |
31.03.2008 |
|
Type |
1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
|
Sales Turnover |
2360.100 |
2551.200 |
2227.100 |
1933.600 |
|
Other Income |
8.400 |
13.700 |
13.800 |
11.000 |
|
Total Income |
2368.500 |
2564.900 |
2240.900 |
1944.600 |
|
Total Expenditure |
2026.000 |
2158.300 |
2020.200 |
1835.600 |
|
Operating Profit |
342.500 |
406.600 |
220.700 |
109.000 |
|
Interest |
2.200 |
2.200 |
5.800 |
2.600 |
|
Gross Profit |
340.300 |
404.400 |
214.900 |
106.400 |
|
Depreciation |
32.500 |
32.900 |
34.800 |
35.800 |
|
Tax |
109.100 |
130.600 |
70.100 |
26.500 |
|
Reported PAT |
198.700 |
240.900 |
110.000 |
44.100 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
5.71 |
5.93 |
4.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.90 |
9.11 |
8.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.44 |
17.99 |
14.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.25 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.52 |
0.44 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17 |
2.66 |
2.18 |
LOCAL AGENCY
FURTHER INFORMATION
Biodata
Subject was incorporated
as R A Cole Private Limited in May'43 and its name was changed to Indoplast Ltd
in Jan '63. It got its present name in Sep.'67. It is managed by the chairman
and managing director P M Thampi. BIL has a technical collaboration with BASF
AG, Germany, which also holds a 50% stake in the company. BIL manufactures
expandable polystyrene (styropar), leather chemicals, tanning agents,
pesticides and oil well chemicals. It has manufacturing facilities at Thane and
Bokaro. BIL's sugicides (Bavistin and Calixin) are regularly exported to the
parent company, Subject, Germany. In addition, it manufactures herbicides
(basalin) and insecticides (basathrin), as well as auxiliaries for the paper
industry, waterproofing agents for the construction industry, and dyestuffs for
the carpet/hosiery industries.
In Jan.'95, it came up with a rights issue at a premium of Rs.900.000 millions,
aggregating Rs.191.7 millions to set up a chemical complex at Mangalore to
manufacture leather chemicals and auxiliaries including metal complex dyes and
polymer dispersions, with technical know-how from Subject, Germany. Commercial
production commenced in Mar.'96.
In 1996, it again raised Rs.575. Millions by way of a rights issue in the ratio
2:5 at a price of Rs 125 per share to part finance the expansions and new
projects at its plants in Mangalore and Thane.
The Company's Mangalore factory has obtained ISO 9002 certification w.e.f5th
July 2000.
In a major move, the board of directors of subject has approved the scheme of
amalgamation of Cyanamid Agro (CAL) with the company effective from 1 Jan 2001.
The share swap ratio has been determined by the board of directors at two
equity shares of subject (of Rs.10 each fully paid-up) for five equity shares
of CAL (of Rs.10 each fully paid-up).
FIXED ASSETS
Freehold Land
Leasehold Land
Buildings and
Ownership Flats
Plant and Machinery
Furniture
Fixtures and
Equipments
Vehicles
Formation of wholly owned subsidiary:
In line with the
practice globally followed by Polyurethane business and with a view to impart
greater focus to the Polyurethane business in India, the Board of Directors
approved the formation of a wholly owned subsidiary of the Company named as
BASF Polyurethanes India Limited (BPIL). BPIL was incorporated on 6th April
2005. BPIL will establish a system house, within Turbhe works, to manufacture
Polyurethane System (PU) products.
The existing businesses of the Company include the activity of indenting and
trading in PU products. After the requisite approvals are received, BPIL will
commence manufacture of PU products. The indenting and trading activity of the
Company relating to PU products will be suitably integrated in BPIL.
Further, in the event of synergies with existing operations of the Company not
materializing, BASF AG or its affiliates will have the discretion to acquire
the Company's holding in BPIL, in 2008. This will be done on the basis of a
fair valuation of shares of BPIL, carried out by an independent value. In any
event, the value of the said shares shall not be lower than the original
investment value, appearing in the books of the Company
Others:
The chemicals supplied by the BASF Group cater to the requirements of a wide
range of user industries including pharmaceuticals, agrochemicals,
petrochemicals, plastics, fertilizers, organic and inorganic chemicals,
coatings, and leather and textile processing’s.
The amended patent law provides significant growth opportunities to Indian
industries specially in the areas of pharmaceuticals, life sciences and
agrochemicals. The Company also expects to derive benefits by supplying quality
products, utilizing its strong business relationships with the user
industries.
The reduction in import duties also contributed to the increase in the indent
business activities of the Company.
The Company is in the process of enhancing its business presence by engaging in
merchandising activities, to enlarge the range of services to its
customers.
The
outlook for chemicals business is favorable. Given the technological excellence
of BASF products coupled with technical service capabilities, the Company is
well positioned to take advantage of growth opportunities.
Technical Management:
The factories of the Company situated at Mangalore and Thane and the corporate
office at Mumbai successfully underwent fully integrated ISO 9001:2000 (Quality
Management) and ISO 14001:1996 (Environmental Management) surveillance audit,
confirming the Company's commitment to quality and environmental management
standards.
Development Center:
Development Center is an objective medium of providing information about an
individual's skills over a range of managerial competencies. It is administered
by a team of specially trained observers and professionals. Through the process,
the Company gets to know the competencies demonstrated by the individuals that
would help in deepening and expanding the understanding of their strengths and
development needs
AS PER WEBSITE DETAILS:
PROFILE:
Subject is the
flagship company of the BASF Group in India. The company is listed on the
National Stock Exchange and the Bombay Stock Exchange.
Subject is
headquartered in Mumbai, with manufacturing facilities in Thane, Mangalore and
Dadra.
Subject manufactures and markets expandable polystyrene, tanning agents,
leather chemicals and auxiliaries including specialised metal complexdyes,
leather dyes, textile chemicals, dispersions and speciality chemicals, acrylic
polymers in primary forms and crop protection chemicals.
Subject also involved in the trading of chemicals including dyestuffs and
related textile auxiliaries, and renders technical services to various
industries
NEWS RELEASE
BASF opens new
plant for Eukesolar dyes in India
Major Benefits for the Indian Leather
Industry.
A Broad variety of striking colors.
Mangalore, India,
December 5, 2007 – BASF today celebrated the opening of its new plant in
Mangalore, southern India, which will manufacture Eukesolar® dyes for the
leather tanning industry.
The facility will provide
customers in the growing Asian market as well as the tanning industry in other
regions with a reliable supply of high-quality chemicals.
“The establishment
of the Eukesolar plant is part of BASF’s strategy to continually strengthen its
commitment to the Indian market, which is one of the most important prospective
markets,” said Thomas Sattler, who is responsible for the global leather
business at BASF.
Located in
Mangalore, the new plant will leverage synergies with the leather powder dyes
production that has been taking place at Mangalore for many years. Together
with the new service centre in Thane, which was inaugurated yesterday, the
Eukesolar plant will provide the Indian leather industry with major benefits,
including a broad portfolio of technical support, advisory services and short
delivery times.
“This production
facility in Mangalore will help us to maintain the leading position as the
complete solution provider in the South Asian leather industry,” said Prasad
Chandran, Chairman, BASF Group in India and Head South Asia.
Eukesolar® E liquid
spray dyes offer a broad variety of striking colors. The extreme brightness and
intensity of these colors make them perfect for creating special fashionable
effects on aniline, semi-aniline and nubuck leathers. Eukesolar® E dyes afford
excellent resistance to water- spotting and, like many other BASF leather
products, they are NMP-free.
BASF
Performance Chemicals - always one idea ahead!
The product range
of BASF's Performance Chemicals for Leather business unit includes chemicals
for all wet-end and finishing processes in the leather and fur industries. With
a worldwide manufacturing and marketing organization, they are one of the
leading suppliers in these fields.
BASF is the world’s
leading chemical company: The Chemical Company. Its portfolio ranges from
chemicals, plastics, performance products, agricultural products and fine
chemicals to crude oil and natural gas. As a reliable partner to virtually all
industries, BASF’s high-value products and intelligent system solutions help
its customers to be more successful. BASF develops new technologies and uses
them to meet the challenges of the future and open up additional market
opportunities. It combines economic success with environmental protection and
social responsibility, thus contributing to a better future. BASF has approximately 95,000 employees and posted sales of €52.6 billion
(approximately $66.1 billion) in 2006.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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. 42.93 |
|
UK Pound |
1 |
Rs. 84.17 |
|
Euro |
1 |
Rs. 66.82 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
81 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
|