MIRA
INFORM REPORT
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Report Date : |
03.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
PMC RUBBER CHEMICALS INDIA PRIVATE LIMITED |
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Registered Office : |
No. 103, G T Road West, P O Rishra, Hooghly – 712248, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.12.2005 |
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Com. Reg. No.: |
106272 |
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CIN No.: [Company
Identification No.] |
U24299WB2005PTC106272 |
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IEC No.: |
0205028781 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Performance Chemicals for
Rubber Industries and Other Industries Using Rubber Products etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 2 years old company, but has not filed any financials
with the Government departments. Trade relations are reported as fair. Scale
of activity seems to be limited. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Utpal Sen |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9331891247 |
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Date : |
28.02.2008 |
LOCATIONS
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Registered Office/ Factory : |
No. 103, G T Road West, P O Rishra, Hooghly – 712248, West Bengal,
India |
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Tel. No.: |
91-33-26722515/ 26724734 |
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Mobile No.: |
91-9331891247 |
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Fax No.: |
91-33-26721552 |
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E-Mail : |
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Website : |
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Area : |
70 acres |
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Location : |
Owned by company |
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Godown : |
15, Kali Prasanna Snghee Road, Cossipore, Kolkata – 700002, West
Bengale, India |
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Location : |
Rented |
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Sales Office : |
Flat No.4, 1st Floor, Sagar Apartments, BN 437, Balram
Nagar, Safilguda, Railway Station, Secunderabad – 500047, Andhra Pradesh,
India |
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Tel No.: |
91-40-27223088 |
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Mobile : |
91-9346434597 |
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Email : |
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Corporate Office
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Flat No.8, 3rd Floor, Vijay Deluxe Apartment, 7 1st
Main Road, CIT Colony, Mysore, Chennai – 60004, Tamilnadu, India |
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Tel No.: |
91-44-24968392 |
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Fax No.: |
91-44-24988523 |
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Mobile : |
91-9346434597 |
DIRECTORS
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Name : |
Mr. Subir Kumar Sen |
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Designation : |
Managing Director |
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Date of Birth/Age : |
50 years |
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Name : |
Mr. Dr. P M Chakrabarty |
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Designation : |
Director |
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Address : |
1288 R T, 73 Southmt Laurel,
NJ08054 – 712248, USA |
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Date of Birth/Age : |
60 years |
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Name : |
Mr. Chistain Reuland |
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Designation : |
Director |
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Address : |
1A, Chemin Landaise 7501-ORCQ, Belgium - 712248 |
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Date of Birth/Age : |
55 years |
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Name : |
Mr. M R Rajaram |
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Designation : |
Director |
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Address : |
C-12/9, DLF City 1, Gurgaon - 122002 |
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Date of Birth/Age : |
60 years |
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Name : |
Mr. Rsm Ratan Kapoor |
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Designation : |
Director |
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Address : |
8/7, Alipore Road, Kolkata – 700027, West Bengal |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Performance Chemicals for
Rubber Industries and Other Industries Using Rubber Products etc. |
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Products : |
Rubber Chemicals |
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Exports : |
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Products : |
All Products |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (90-120 days) |
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Purchasing : |
L/C, Cash and Credit (90 days) |
GENERAL
INFORMATION
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Customers : |
Rubber Industries Tyre Companies. |
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No. of Employees : |
Around 180 |
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Bankers : |
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Facilities : |
Over Draft – Rs.200.000 Millions from Centurion Bank of Punjab |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A R Das and Associates Chartered Accountant |
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Address : |
Kolkata |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Share |
Rs.10/- each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2045216 |
Equity Share |
Rs.10/- each |
Rs.20.452 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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900.000 |
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Expected Sales (2007-08) : Rs.920.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- MRF
- Birla Tyre (Ceat)
- Bhota International
- Naresh Kumar and Company Private Limited
Group Profile:
PMC Group, a large US based multinational company, launched
its first manufacturing base in India by acquiring ICI’s state of the art
Rubber Chemicals manufacturing site in Rishra, near Kolkata during end December
2005. With this PMC Group is poised to be the market leader with the most and
comprehensive range of rubber chemicals covering Accelerators, Antioxidants,
Antiozonants, Retarders and Peptisers with user friendly trade marks Accicure,
Accinox, Accitard and Accimel which are top-of-mind within the Rubber Goods
Industry both home and abroad.
Within this short period of takeover since then, PMC Group
has an unprecedented record of product developments and innovations through its
Research and Development activities with its vision committed to service and
innovation. Innovation in every area of business from product technology to
service offering being the hallmark, high quality products and services delivering
superior performance sets PMC Group apart from the competition as corporate
culture driving innovation starts from the root of market needs.
PMC is widely acknowledged in the market place for its
superior technical service support through a team of experienced and highly
qualified professionals. This activity is an integral aspect of the business’s
market focused strategy of supplying products of international quality and
satisfying customer needs promptly and satisfactorily.
PMC Group believes that manufacturing excellence and
responsibility in these areas maximizes the value of the company to its
employees, communities, customers and shareholders.
PMC Group is committed to providing comprehensive care to
the environment it operates in, including its customers and business
associates. Worldwide PMC Group has been an industry leader in the areas of
Safety, Health and Environment (SHE) and regularly conducts its product
stewardship programmers to ensure the safety of the environment in the
life-cycle of the product, from manufacture to disposal after use.
PMC Group is widely known for its participation in the
rubber industry and look forward to serving the needs of their customers. For
technical or application related enquiries, it gets in touch with all through
its various offices in the country.
PMC Group, needless to mention, is an ISO 9001-2000 and ISO
14001-2004 company for rendering world class services to the industry.
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 :
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.92 |
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UK Pound |
1 |
Rs.79.31 |
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Euro |
1 |
Rs.60.63 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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27 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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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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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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. |
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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