1. Summary Information
|
Country |
|
||
|
Company Name |
TEXTILE DYE CHEM PRIVATE LIMITED |
Principal Name 1 |
Mr. Konda Haranath Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Konda Siva PrasadS |
|
Registration # |
18-52874 |
||
|
Street Address |
New No.168 (Old No.161), |
||
|
Established Date |
01.04.2004 |
SIC Code |
-- |
|
Telephone# |
91-44-52146822/ 52146833/ 28554870 |
Business Style 1 |
Importer |
|
Fax # |
91-44-28553723 |
Business Style 2 |
Dealer |
|
Homepage |
Product Name 1 |
Chemicals |
|
|
# of employees |
51 |
Product Name 2 |
Solvents |
|
Paid up capital |
Rs.
10,200,600/- |
Product Name 3 |
Metals |
|
Shareholders |
Directors or relatives of
directors-100% |
Banking |
HDFC Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
7Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
|
Srivatsala Enterprises |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
300,434,000 |
Current Liabilities |
177,453,000 |
|
Inventories |
24,142,000 |
Long-term Liabilities |
116,146,000 |
|
Fixed Assets |
8,167,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
293,599,000 |
|
Invest& other Assets |
66,000 |
Retained Earnings |
29,009,000 |
|
|
|
Net Worth |
39,210,000 |
|
Total Assets |
332,809,000 |
Total Liab. & Equity |
332,809,000 |
|
Total Assets (Previous Year) |
302,113,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,214,723,000 |
Net Profit |
6,729,000 |
|
Sales(Previous yr) |
1,962,320,000 |
Net Profit(Prev.yr) |
9,191,000 |
MIRA INFORM REPORT
|
Report Date : |
20.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
TEXTILE DYE CHEM PRIVATE LIMITED |
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|
|
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Registered Office : |
New No.168 (Old No.161), |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
01.04.2004 |
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|
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Com. Reg. No.: |
18-52874 |
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|
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CIN No.: [Company
Identification No.] |
U24114TN2004PTC052874 |
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|
|
IEC No.: |
0401000907 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHET07383F |
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|
|
PAN No.: [Permanent
Account No.] |
AACCT0262E |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business : |
Importer, Dealer and Distributors of IUPITAL, All Industrial
Chemicals, Solvents, Pharma and Metals. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 157000 |
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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 an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
New No.168 (Old No.161), |
|
Tel. No.: |
91-44-52146822/ 52146833/ 28554870 |
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Fax No.: |
91-44-28553723 |
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E-Mail : |
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Website : |
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Corporate Office: |
IV Floor, Cisions Complex No. 150, Montieth Road, Egmore, Chennai –
600008, Tamilnadu, India |
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Tel. No.: |
91-44-42290909/ 28554485 |
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Fax No.: |
91-44-28553723 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. |
|
Location : |
Rented |
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Branch 1 : |
31 A/16, Sidco Industrial Estate, Ambattur, Chennai – 600098, |
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Tel. No.: |
91-44-26252818 |
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Area : |
7200 sq. ft. |
|
Location : |
Rented |
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Branch 2 : |
Room No. 522/1. 3rd Floor, Prabhat Complex, No.8, |
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Tel. No.: |
91-80-22267433 |
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Fax No.: |
91-80-22255975 |
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Area : |
3200 sq. ft. |
|
Location : |
Owned |
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Branch 3 : |
No.5, Parasuraman Nagar, Opp. PASIC, Muthryarpalayam, |
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Tel. No.: |
91-413-6534550 |
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Fax No.: |
91-413-2266416 |
|
Area : |
7200 sq. ft. |
|
Location : |
Rented |
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Branch 4 : |
3/207, Parapalayam, Mannarai – |
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Tel. No.: |
91-421-2223994 |
|
Area : |
3500 sq. ft. |
|
Location : |
Rented |
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Branches 5 : |
76, |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Konda Haranath Gupta |
|
Designation : |
Director |
|
Address : |
No.9-D, |
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Date of Birth/Age : |
30.03.1943 |
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Date of Appointment : |
01.04.2004 |
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|
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Name : |
Mr. Konda Shiva Prasad |
|
Designation : |
Director |
|
Address : |
No.9-D, |
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Date of Birth/Age : |
19.08.1969 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.04.2004 |
|
|
|
|
Name : |
Mr. Kancherla Sudharani |
|
Designation : |
Director |
|
Date of Appointment : |
18.10.2004 |
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Name : |
Mrs. Konda Sudharani |
|
Designation : |
Director |
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Address : |
No.9-D, |
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Date of Birth/Age : |
19.04.1972 |
|
Date of Appointment : |
18.10.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
K. Haranath Gupta |
|
770000 |
|
K. Sivaprasad |
|
250000 |
|
K. Sudharani |
|
20 |
|
K. Padmavathy |
|
20 |
|
S. V Subrahmanyam |
|
10 |
|
D. B. Amaresh |
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10 |
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|
|
|
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Total |
|
1020060 |
AS ON 27.09.2010
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer, Dealer and Distributors of IUPITAL, All Industrial
Chemicals, Solvents, Pharma and Metals. |
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Agencies Held : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30-60-90 days) |
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Purchasing : |
L/C, Credit (30-60-90 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
51 (30 – In Office, 21 – In Factory) |
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Bankers : |
·
HDFC Bank Limited, No. 759, ITC Centre, Anna
Salai, Opposite TVS. Chennai – 600002, ·
HDFC Bank House, Senapati Bapat Marg, Lower Parel
West, Mumbai – 400013, ·
ICICI Bank Limited, No.110, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vijay Sarathy and Company Chartered Accountants |
|
Address : |
18-A, |
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Tel. No.: |
91-44-28153830/ 28152948 |
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E-Mail : |
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Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000 |
Equity Share |
Rs.10/- Each |
Rs. 11.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1020060 |
Equity Share |
Rs.10/- Each |
Rs. 10.201
Millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.201 |
10.201 |
10.201 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
29.009 |
22.280 |
16.289 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
39.210 |
32.481 |
26.490 |
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LOAN FUNDS |
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|
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1] Secured Loans |
70.000 |
55.000 |
60.570 |
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2] Unsecured Loans |
46.146 |
43.120 |
45.126 |
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TOTAL BORROWING |
116.146 |
98.120 |
105.696 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
155.356 |
130.601 |
132.186 |
|
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|
|
|
|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.167 |
5.039 |
5.520 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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INVESTMENT |
0.000 |
4.908 |
0.528 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
24.142
|
23.050
|
25.907
|
|
|
Sundry Debtors |
219.673
|
201.526
|
231.499
|
|
|
Cash & Bank Balances |
1.901
|
2.125
|
6.849
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
78.860
|
65.382
|
51.533
|
|
Total
Current Assets |
324.576
|
292.083
|
315.788 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
158.560
|
157.118
|
181.356
|
|
|
Provisions |
18.893
|
14.394
|
8.393
|
|
Total
Current Liabilities |
177.453
|
171.512
|
189.749 |
|
|
Net Current Assets |
147.123
|
120.571
|
126.039 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.066 |
0.083 |
0.099 |
|
|
|
|
|
|
|
|
TOTAL |
155.356 |
130.601 |
132.186 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
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SALES |
|
|
|
|
|
|
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Income |
1214.723 |
1962.320 |
857.262 |
|
|
|
Other Income |
33.929 |
14.096 |
17.207 |
|
|
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TOTAL (A) |
1248.652 |
1976.416 |
874.469 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/(Decrease) in Finished Goods |
(1.092) |
(2.857) |
12.467 |
|
|
|
Other Expenditure |
1238.445 |
1967.354 |
850.984 |
|
|
|
TOTAL (B) |
1237.353 |
1964.497 |
863.451 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (A-B) (C) |
11.299 |
11.919 |
11.018 |
|
|
|
|
|
|
|
|
|
Less |
TAX (D) |
4.570 |
2.728 |
2.086 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(C-D) (E) |
6.729 |
9.191 |
8.932 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.60 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.54 |
0.47 |
1.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.93 |
0.61 |
1.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.39 |
4.01 |
3.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.37 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.49 |
8.30 |
11.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83 |
1.70 |
1.66 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION
The performance of the Company during the year has been good.
The reduction in the sales Turnover is due to the lesser off take of Phosphoric
Acid by one of our major customer. All
efforts are being taken by the company to increase the Volume of
business.
Bankers Charges
Report as per Registry
|
Name of the
company |
TEXTILE DYE CHEM PRIVATE LIMITED |
||||||
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Presented By |
Mr. K. Siva Prasad, Director |
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1) Date and description of instrument creating the change |
30th
August, 2004 Deed of Hypothecation |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.40.000
Millions Nature of
Facility
|
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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 |
Primary Security:
First exclusive charge on all current assets of the company, present and
future. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
a) Cash Credit/
WCDL – Payable on Demand Margin at 25% on stock and Receivables age not
exceeding 90 days b) Letter of
Credit/ Bank Guarantee Up to 90 days BG- Up to 1 year Margin @10% by way of
Fixed Deposit Interest rate on
cash credit/ WCDL - @9.00%p.a. (All taxes, duties and levies as applicable to
specific transaction would be borne by the borrower) Letter of
Credit/Bank Guarantee – As per FEDA/IBA Processing
Charges – 1.00% on total facilities excluding intra-day. |
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5) Name and Address and description of the person entitled to the charge. |
HDFC Bank
Limited, Mariam Centre, 751-B, Anna Salai, Chennai - 600002 |
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|
6) Date and brief description of instrument modifying the charge |
Supplemental Letter
of Hypothecation of Stocks and Book debts dated 03.12.2005. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The charge is
modified due to revision in the fund based and non-fund based limits as given
below Modification
No. 1 Document dated
19.02.2005-enhanceement of limits from Rs. 40.000 Millions to Rs. 56.000
Millions Modification No.
2 Charge modified
due to revision in facilities as follows.
|
|
Corporate
identity number (CIN) Foreign company registration number |
U24114TN2004PTC052874 |
|
Name of the
Company |
TEXTILE DYE CHEM PRIVATE LIMITED |
|
Address |
Old No.161, New No.168, |
|
This form is for |
Creation of
Charge |
|
Type of Charge |
Immovable
Property |
|
Particulars of
the charge holder |
HDFC Bank
Limited, HDFC Bank Houses Napati Bapat Marg, Lower Parel (West),
Mumbai-400013, Email ID: srinivasan.venkataraman@hdfcbank.com |
|
Nature or description
of the instrument(s) creating or modifying the charge |
No separate
instrument has been executed for creation of charge as equitable mortgage is
an oral transaction. Memorandum of equitable mortgage by Deposit of Title
Deeds relating to immovable properties of the Company is enclosed herewith. |
|
Date of the
instrument creating or modifying the charge |
12.01.2011 |
|
Amount secured by
the charge |
Rs.354.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: Any such rate as
may be advised to the company from time to time in respect of the credit
facilities. Terms of
repayment: i) Cash credit /
WCDL / LC / BG of Rs. 304.000 Millions repayable on demand. ii) Term loan of
Rs. 50.000 Millions unless demanded earlier the loan is repayable as per
sanction terms. Margin: As may be
prescribed by the Bank from time to time for the credit facilities. Extent and
operation of the charge: The company
created charge by way of mortgage by deposit of title deeds relating to
immovable properties of the company as security for the repayment of credit
facilities granted to be granted to the company and other borrowers
aggregating to Rs. 354.000 Millions together with interest cost charges and
other dues any time hereafter may become due and owing to the respect of and
under the credit facilities and interest and all the other cost thereto. |
Fixed Assets
- Land
- Motor Car
- Computer
- Furniture and Fixture
- Plant and Machinery
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 44.68 |
|
|
1 |
Rs. 72.56 |
|
Euro |
1 |
Rs. 63.53 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NOS |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
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 |
|
NB |
New Business |
-- |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.