MIRA
INFORM REPORT
|
Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HEMANI INTERMEDIATES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
12 Khetshi Chatrabhuj Niwas, Santukaram Road, Danabunder, Mumbai –
400009, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
03.02.1994 |
|
|
|
|
Com. Reg. No.: |
076416 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24114MH1994PTC076416 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH08249D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACH1117Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing, Import and Exporting of organic pigment
intermediates and dyes intermediates. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having fine track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Financial position is satisfactory. The company can be considered good for any normal business dealings at usual trade terms and conditions. Some caution is suggested while dealing with the company. |
INFORMATION PARTED
BY
|
Name : |
Mr. Baskar |
|
Designation : |
Export Manager |
|
Date : |
26.05.2008 |
LOCATIONS
|
Registered Office : |
12 Khetshi Chatrabhuj Niwas, Santukaram Road, Danabunder, Mumbai –
400009, Maharashtra, India |
|
Tel. No. |
91-22-23754604/23727563/23723215/23753155 |
|
Fax No. |
91-22-23712596/23740581 |
|
Email : |
|
|
Website |
|
|
|
|
|
Corporate Office : |
706 Reena Complex, Vidyavihar, Near Nathani Steel, Mumbai – 400066,
Maharashtra, India |
|
Tel. No.: |
91-22-5156988/ 25157491/ 25134641 |
|
Fax No.: |
91-22-5134483 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
780/1,2,40, Shed Area, GIDC Vapi, Dist – Bulsar – 396195, Gujarat |
|
Tel. No.: |
91-260-2431226/2431724 |
|
Fax No.: |
91-260-2430634 |
|
|
|
|
Factory 2: |
Vapi, Ankleshwar |
|
|
|
|
Branch Office : |
· Plot No. 119, Silvassa Road, GIDC Vapi, Dist. Bulsar - 396195, Gujarat Tel. No. 91-260-2422189/2430459 Fax. No. 91-260-2421619 · Plot No. 3208, GIDC Industrial Estate, Ankleshwar – 393002, Gujarat Tel. No. 91-264-2626195 Fax. No. 91-264-2650627 |
DIRECTORS
|
Name : |
Mr. Mohan Dama |
|
Designation : |
Commercial Director |
|
Date of Birth/Age : |
46 years |
|
|
|
|
Name : |
Mr. Premji Hemani |
|
Designation : |
Technical Director |
|
Address : |
Plot No. 273, Saravsh Soe, Bungalow Area, MIDC, Gujarat |
|
Date of Birth/Age : |
14.02.1960 |
|
Date of Appointment : |
03.02.1994 |
|
|
|
|
Name : |
Mr. Bharat K. Dama |
|
Designation : |
Director |
|
Address : |
703/704, Saikrupa, Hingwala Cross Lane, Ghatkophar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
30.08.1968 |
|
Date of Appointment : |
03.02.1994 |
|
|
|
|
Name : |
Mrs. Minal M. Dama |
|
Designation : |
Director |
|
Address : |
7/13, Khatan Apartments, Tilak Road, Joshi Lane, Ghatkopar (East), Mumbai – 400077, Maharashtra |
|
Date of Birth/Age : |
27.10.1964 |
|
Date of Appointment : |
03.02.1994 |
|
|
|
|
Name : |
Mr. Ramesh Bapat |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
J. P. Associates |
|
Designation : |
Company Secretary |
|
Address : |
Mumbai-400081, Maharashtra, India |
|
|
|
|
Name : |
Mr. Kishan Dama |
|
Designation : |
Administrative Head |
|
|
|
|
Name : |
Mr. Parag Shah |
|
Designation : |
V P Exports |
|
|
|
|
Name : |
Mr. Kamal Bhatt |
|
Designation : |
Technical Head |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2002)
|
Names of Shareholders |
|
No of Shares |
|
Mr. Bharat K. Dama |
|
2510 |
|
Mrs. Minal M. Dama |
|
20454 |
|
Mrs. Naina P Hemani |
|
5800 |
|
Mr. Anil B. Nanda |
|
1957 |
|
Mr. Mohan S. Hemani |
|
4000 |
|
Mr. Premji S. Hemani |
|
6000 |
|
Mr. Jayesh M. Dama |
|
2000 |
|
Mr. Bhaskar M. Gadgil |
|
500 |
|
Mr. Darmesh K. Bhodra |
|
500 |
|
Mr. Maruti D. Pankerkar |
|
500 |
|
Mr. Ravi A. Shetty |
|
500 |
|
Mr. Arvind G. Mav |
|
500 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Import and Exporting of organic pigment
intermediates and dyes intermediates. |
|
|
|
|
Products : |
· Organic Pigment · Dyestuff |
|
|
|
|
Exports : |
|
|
Products : |
33 DCB |
|
Countries : |
European Countries |
|
|
|
|
Imports : |
|
|
Products : |
· ONCB · Thiourea |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/C and Cheque |
GENERAL
INFORMATION
|
Customers : |
· End Users · Ideal Dye Chem Industries · Hemani Organics and Chemicals Private Limited · Hemani
Intermediates Private Limited |
|
|
|
|
No. of Employees : |
150 |
|
|
|
|
Bankers : |
· Dombivli Nagari Sahakari Bank Limited, Keshav Smruti, Navpada Road, Dombivali (East), Maharashtra, India · Citi Bank N.A. · State Bank of Indore, Vapi · State Bank of Indore, Worli, Mumbai · Bank of India, J. N. P. T., Mumbai · Bank of India, Navi Mumbai · United Western Bank Limited, Nariman Point, Mumbai · Kalyan Janata Sahakari Bank Limited, Kalyan, Maharashtra |
|
|
|
|
Facilities : |
Rs. 36.700 millions dated 17/06/2000 against hypothecation of tangible movable property. Rs. 7.000 millions dated 25/06/2000 against hypothecation of tangible movable property. |
|
|
|
|
Banking
Relations : |
Unknown |
|
|
|
|
Auditors : |
|
|
Name : |
Haren Parekh and Company Chartered Accountant |
|
Address : |
Mumbai, Maharashtra |
|
|
|
|
Associates/Subsidiaries : |
· Ideal Dye Chem Industries Plot No. 119, Silvassa Road, GIDC Vapi, Dist. Bulsar, Gujarat Tel. No. 91-260-2422189/2430459 Fax. No. 91-260-2421619 · Hemani Organics and Chemicals Private Limited, Plot No. 3208, GIDC Industrial Estate, Ankleshwar – 393002, Gujarat Tel. No. 91-264-2626195 Fax. No. 91-264-2650627 · Premonit International Eximp · Hemani International |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
Not Available |
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Sales Turnover (Around) |
|
|
500.000 |
|
|
|
|
|
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
· Ideal Dye Chem Industries
Group Profile:
Hemani Group is well known in the International as well as Domestic market for manufacturing and marketing in specialised product range as under:
- Dyes
and Dyes Intermediates
- Organic
Pigment Intermediates
- Pesticides
and Pesticides Intermediates
- Other Specialty Chemicals
The Hemani Group started its manufacturing activities in 1977 with Dyes Intermediates. With time, 3 Private Limited Companies were started and new products came into being which are in great demand in International as well as Domestic markets.
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.42.89 |
|
UK Pound |
1 |
Rs.84.84 |
|
Euro |
1 |
Rs.67.61 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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 |
|