MIRA
INFORM REPORT
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Report Date : |
03.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMEYA DYECHEM PRIVATE LIMITED |
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Registered Office : |
A/1, Kashivishweshwar
Township, Jetalpur Road, Baroda - 390007, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.04.1996 |
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Com. Reg. No.: |
04-29354 |
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CIN No.: [Company
Identification No.] |
U24231GJ1996PTC029354 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDT00262D |
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PAN No.: [Permanent
Account No.] |
AABCA5865B |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
The company is engaged
in diversified fields such as Silicones, Offset Printing Industry, Label
Printing Industry, Web Offset Printing Industry, Coding and Labeling
Solutions, Printing Plates, Information Technology, Biotechnology etc |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 50724 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established company having satisfactory track. Trade relations are fair.
Financial position is satisfactory. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered/
Head Office : |
A/1, Kashivishweshwar
Township, Jetalpur Road, Vadodara - 390007, Gujarat, India |
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Tel. No.: |
91-265-2336141/
42/ 43 |
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Fax No.: |
91-265-2331494 |
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E-Mail : |
jayshreeakolkar@ameyaindia.com |
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Website: |
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New Delhi Branch Office : |
F-90/34, Phase
-1, Okhla Industrial Area, New Delhi – 20 , India |
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Tel. No.: |
91-11-51615488 /
33446110 / 32536884 |
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Mobile : |
91-9312261298 |
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Fax No.: |
91-11-51615488 |
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E-Mail : |
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Website: |
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Mumbai Branch
Office : |
Shop Number 1, New
Gokul Plaza, Thakur Complex, Kandivali – East, Mumbai - 400067, Maharashtra,
India |
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Tel. No.: |
91-22-39404034 |
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Fax No.: |
91-22-39404034 |
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Telefax : |
91-22-28702878 |
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E-Mail : |
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Website: |
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Surat Branch
Office : |
Opposite New Bombay Shopping Centre, Outside Sahara
Darwaja Pur, Gujarat , India |
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Mobile No.: |
91-9824090241 |
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Bangalore
Branch Office : |
Number 8, 4th “E” Cross, Maruthi Nagar, Kamakshipalya,
Bangalore - 560079, Karnataka, India |
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Mobile No.: |
91-9342692985 |
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E-Mail : |
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Website: |
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Bhopal Branch
Office : |
14 A, J K Road,
Bhavani Nagar, Bhopal - 462021, Madhya Pradesh, India |
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Mobile No.: |
91-9329630044 |
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Tel No.: |
91-755-3205015 |
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Fax No.: |
91-755-4077141 |
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Website: |
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E-Mail : |
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Faridabad Branch Office : |
MCF-2580, Sector 23,
Sanjay Colony, Faridabad (West), Gujarat, India |
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E-Mail: |
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Website: |
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Thane Branch Office : |
Gala No.1 / 2, Ansuya Vaitee Complex, Old Agra Road , Near Maruti
Compound Opp to Hotel Ramdev,Village Kalher. Taluka-Bhiwandi, Dist.Thane –
421302, India |
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Tel No.: |
91-2522-645067 |
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Fax No.: |
91-2522- 277150 |
DIRECTORS
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Name : |
Mr. Gautam
Hirachand Bafna |
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Designation : |
Director |
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Address : |
7, Maitri Mandir
Co-Operative Housing Society, Opposite Iscon Temple, Gotri Road, Vadodara –
390007, Gujarat, India |
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Date of Birth/Age : |
04.06.1964 |
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Date of Appointment : |
17.03.1996 |
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Name : |
Mr. Bafna
Chandanmal Bafna |
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Designation : |
Director |
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Address : |
7, Maitri Mandir
Co-Operative Housing Society, Opposite Iscon Temple, Gotri Road, Vadodara –
390007, Gujarat, India |
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Date of Birth/Age : |
14.02.1972 |
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Name : |
Mrs. Madhudevi
Gautam Bafna |
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Designation : |
Director |
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Address : |
7, Maitri Mandir
Co-Operative Housing Society, Opposite Iscon Temple, Gotri Road, Vadodara –
390007, Gujarat, India |
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Date of Birth/Age : |
21.08.1967 |
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Date of Appointment : |
07.11.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2005)
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Names of Shareholders |
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No. of Shares |
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Gautam Bafna |
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40000 |
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Bharat Bafna |
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25900 |
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Madanlal S
Phophalia |
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100 |
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Laxmi M Phophalia |
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100 |
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Kamal M Somani |
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100 |
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Ugamdevi Bafna |
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20000 |
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Hirachand Bafna
(HUF) |
|
100 |
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Gautam Bafna
(HUF) |
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100 |
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Hirachand Bafna |
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100 |
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Madhu G Bafna |
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100 |
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Santosh Bafna |
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100 |
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Nirmal M Jain |
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100 |
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C M Bafna (HUF) |
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100 |
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Arvindkumar Asawa |
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100 |
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Gunwati R
Jariwala |
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100 |
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Kamal M Dhoot
(HUF) |
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100 |
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Narsinghdas
Khetawat (HUF) |
|
100 |
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Pratik K Somani |
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100 |
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Purshottam Asowal |
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100 |
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Radha K Somani |
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100 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in
diversified fields such as Silicones, Offset Printing Industry, Label
Printing Industry, Web Offset Printing Industry, Coding and Labeling
Solutions, Printing Plates, Information Technology, Biotechnology etc |
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Products : |
·
Silicones ·
Offset Printing
Industry ·
Label
Printing Industry ·
Web Offset
Printing Industry ·
Coding and
Labeling Solutions ·
Printing
Plates ·
Information
Technology · Biotechnology |
GENERAL
INFORMATION
|
Suppliers : |
·
Colourbond
Marketing Limited ·
FCL Technologies
and Product Limited ·
Four-P
International Private Limited ·
GE Bayer
Silicones (India) Private Limited ·
GE Betz
India Private Limited ·
Mohan Mutha
Exports Limited ·
Akzo Nobal
Coatings India Private Limited ·
Silica House
Private Limited ·
Sicpa India
Limited ·
Virgo
Engineers Limited |
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|
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Customers : |
·
Advance
Technology Engineering Private Limited ·
Air India
Private Limited ·
Amol
Dicalite Limited ·
Anand
Children Wear Private Limited ·
Arvind
Dyechem Private Limited ·
Arvind
International Limited ·
Banco Products
(Bhaili) ·
Cadila
Pharmaceuticals Limited ·
C. G. PPPI.
Adhesive Product Limited ·
Chemi Plast ·
Coromandel
Paints and Chemicals Limited ·
Flexell
Computers Forms (Private) Limited (DR) ·
Gujarat
Carbon Industries Limited ·
Gujarat
Guardian Limited ·
Ion Exchange
(India) Limited ·
Jagdamba
Dyeing Mills ·
Lakhani Shoe
Company Private Limited ·
Larson and
Toubro Limited |
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No. of Employees : |
About 60 |
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Bankers : |
·
State Bank
of Indore Alkapuri Branch,
Vadodara ·
Yes Bank
Limited 9th Floor,
Nehru Centre Discovery of India, Dr. Annie Besant Road, Worli, Mumbai –
400018, Maharashtra, India ·
Bank of
India ·
State Bank
of Saurashtra ·
ICICI Bank
Limited ·
HDFC Bank
Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. H. Bhatt and
Company Chartered
Accountants |
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Address : |
S/8, National
Plaza, R C Dutt Toad, Alkapuri, Vadodara – 390007, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs 10/- each |
Rs 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
400000 |
Equity Shares |
Rs 10/- each |
Rs 4.000 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
.
ABRIDGED BALANCE
SHEET
|
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 |
4.000 |
4.000 |
4.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
8.681 |
5.150 |
1.952 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.681 |
9.150 |
5.952 |
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LOAN FUNDS |
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1] Secured Loans |
52.765 |
24.966 |
4.947 |
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2] Unsecured Loans |
22.847 |
19.872 |
16.061 |
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TOTAL BORROWING |
75.612 |
44.838 |
21.008 |
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DEFERRED TAX LIABILITIES |
0.051 |
0.078 |
0.077 |
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TOTAL |
88.344 |
54.066 |
27.037 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.509 |
3.349 |
1.807 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.154 |
0.387 |
0.387 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
38.414
|
21.012 |
16.706 |
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Sundry Debtors |
87.597
|
51.103 |
23.833 |
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Cash & Bank Balances |
1.977
|
2.041 |
1.473 |
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Other Current Assets |
0.000
|
0.000 |
0.003 |
|
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Loans & Advances |
4.652
|
3.573 |
1.446 |
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Total
Current Assets |
132.640
|
77.729 |
43.461 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Current Liabilities |
47.724
|
25.392 |
18.013 |
|
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Provisions |
2.235
|
2.007 |
0.609 |
|
Total
Current Liabilities |
49.959
|
27.399 |
18.622 |
|
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Net Current Assets |
82.681
|
50.330 |
24.839 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.004 |
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TOTAL |
88.344 |
54.066 |
27.037 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
189.227 |
140.163 |
75.815 |
|
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Other Income |
7.008 |
3.240 |
3.259 |
|
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Total Income |
196.235 |
143.403 |
79.074 |
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|
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|
|
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Profit/(Loss) Before Tax |
5.541 |
4.965 |
1.281 |
|
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Provision for Taxation |
2.009 |
1.767 |
0.497 |
|
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Profit/(Loss) After Tax |
3.532 |
3.198 |
0.784 |
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Expenditures : |
|
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Financial Charge |
6.873 |
3.880 |
0.000 |
|
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Depreciation |
1.064 |
0.767 |
0.000 |
|
|
Other Expenditure |
182.757 |
133.791 |
77.793 |
|
Total Expenditure |
190.694 |
138.438 |
77.793 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.80
|
2.23 |
0.99 |
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.93
|
3.64 |
1.69 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.04
|
6.12 |
2.83 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
0.54 |
0.21 |
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
9.90
|
7.89 |
6.66 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.65
|
2.84 |
2.33 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U24231GJ1996PTC029354 |
|
Name of the
Company |
AMEYA DYECHEM PRIVATE LIMITED |
|
Address |
A/1,
Kashivishweshwar Township, Jetalpur Road, Baroda - 390007, Gujarat, India |
|
This form is for |
Creation of
charge |
|
Type of Charge |
Book Debts Movable Property
(Not being pledge) |
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Particulars of
the charge holder |
Centurion Bank of
Punjab Limited Ground Floor,
Productivity House, Productivity Road, Alkapuri, Vodadara – 390007, Gujarat,
India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Agreement of
Hypothecation of Goods, Vehicles, Plant and Machinery, Stock and Book debts |
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Date of the instrument
creating or modifying the charge |
08.11.2007 |
|
Amount secured by
the charge |
Rs.88.750
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: CC: 2.50% below
BPLR I.e. 12.50% p.a. LC: Exchange/
Commission@ 1.25% p.a. (0.5% p.a. a sight + 0.75 p.a. Usance) BG: Exchange/
Commission (Performance and Financial): @ 1.25% p.a. TL: @2.00% below BPLR i.e. @13.00% p.a. presently
on a monthly compounding basis. All taxes duties and levies as applicable to
specific transactions would be become by the Company, Terms of
Repayment: CC: on Demand TL: 60 monthly
installment Margin: CC:25% on Net
Paid Stocks, 30% on Book Debts (Upto 90 days) BG: Cash Margin@
15% LC: Cash Margin @
15% TL: Bank Finance
75% Promoters Contribution 25% Extent and
operation of the charge: The charge shall
extent to repayment on demand to the Bank of all monies including the
principal sums, interest, cost, charge, expenses and other monies
payable from time to time and that
all rights, remedies, terms conditions to be observed by the company shall
extended to Total finance facility of
Rs.88.750 Millions |
|
Short particulars
of the property charged (including location of the property) |
Hypothecation of
Stock, Raw Materials Finished Goods existing and to be purchased from time to
time located at Vododara or elsewhere existing and future book debts
outstanding moneys receivable claims bills all other current assets etc.
Located at Vododara or elsewhere |
|
Particular of the
present modification |
NA |
|
Name of the company |
AMEYA DYECHEM PRIVATE LIMITED |
||||||
|
Presented By |
MR. GAUTAM H. BAFNA |
||||||
|
1) Date and description of instrument creating the change |
Agreement of
Hypothecation of Book Debts and assets
dated 30th May 2005 |
||||||
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2) Amount secured by the charge/amount owing on the
securities of charge |
Rs 7.500 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 |
Factoring
facility and Finance charge, service charge and service fees, interest
charges and costs and expenses payable to or incurred by the factor shall be
hypothecation by way of first charge of the company ‘s book debts and
receivables as mentioned as per Annexure enclosed herewith |
||||||
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4) Gist of the terms and conditions and extent and
operation of the charge. |
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||||||
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5) Name and Address and description of the person entitled
to the charge. |
SBI Factors and
Commercial Services Private Limited B.B.C. Towers,
Sayajigunj, Vadodara, Gujarat, India |
||||||
|
6) Date and brief
description of instrument modifying the charge |
N.A. |
||||||
|
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. |
N.A. |
History:
Right from the start subject possessed a rich strength as one
of the most trusted industrial marketing companies; Subject intends to grow as
one of the largest industrial marketing company. Marketing for company is not
just selling but it is beginning of a relationship for which company invests
heavily.
Only the Best in Industry:
Company only
offer the best products (Globally) to their customers, in each business that we
enter and put a lot of research behind that, there have been times when they
have let gone a business opportunity, if they were not convinced on the
“Globally Best Product” philosophy.
Multi product:
Company endeavor has been to look at partnership with
customers for getting them every material or service, which falls into their
focus area and this allows to live their logo-Building Partnership
Innovatively.
Focus:
Company understands the challenge of focusing, while being
extremely diversified and this sets apart, this is possible, because they have
dedicated and focused team for each business.
Evolving:
Everything evolves in world, the world itself evolves and
that's their takeaway for the great nature, they keep evolving, keep getting
better, keep adding business and keep redefining their relationship with
everyone they work to make it better, everyday.
Infrastructure and closeness to customers:
When it comes to service, company don't compromise, they put
people and infrastructure closest to customer; no doubt today they have fully
functional office / godowns across 7 centers in India and adding more.
“Customer's know today that, if it is subject, they can
trust, this has been built over a period of 8 years of handwork, passion and
Commitment.”
Building a Global Team:
At subject they believe, recruiting the right person,
assimilating the cultures that they bring into. Make them feel proud, remove
hierarchical mental blocks, keep them motivated - and move ahead. Each person
at subject is obsessed with a desire to make difference An unyielding SPIRIT,
which just refuses to accept defeat, Never say Die-attitude and commitment to
deliver the best to all, energy and capability to energize is what sets apart
each Ameyaite and when it comes to intellectual resource, they do have the best
of the globe...in the process to create a GLOBAL and WORLD CLASS AMEYA, they
have gathered world class people.
Marketing -Core Strength:
Marketing for subject is a creative business and one of its
greatest gifts is its strategic thinking. Selling is an art and delivering
better than what has been committed is what the marketing ends with or do they
say begins with-as each time they deliver more, they are sure of sustaining the
customer and growing the business.
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.40.65 |
|
UK Pound |
1 |
Rs.80.35 |
|
Euro |
1 |
Rs.62.78 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
54 |
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, we have no basis upon which to
recommend credit dealings |
No Rating |
|