MIRA
INFORM REPORT
|
Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUD CHEMIE INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
UNITED CATALYSTS INDIA LIMITED (W.E.F. 28.06.1978) CATALYSTS AND CHEMICALS |
|
|
|
|
Registered Office : |
Edayar Industrial Development Area, Binanipuram P O Aluva, Ernakulam –
683 502, Kerala |
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|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
28.02.1969 |
|
|
|
|
Com. Reg. No.: |
9-002217 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.9.623
millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24299KL1969PTC002217 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers, Traders,
Exporters and Importers of Catalyst-Organic or Inorganic Crude or Refined and
catalytic converter for ammonia plants, petrochemical plants, refineries,
sponge iron plants and a host of miscellaneous chemical process plants and
providing after sales service as catalyst loading and commissioning. |
|
|
|
|
No. of Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (56) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established and reputed company having fine track.
Financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as
per commitments. The company can be considered good for normal 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 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Research and Development /Factory 1 : |
Edayar Industrial Development Area, Binanipuram P O Aluva, Ernakulam –
683 502, |
|
Tel. No.: |
91-484-540481/
25404187 [6 lines]/ 6646000 |
|
Fax No.: |
91-484-540020/
6646099 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory 2 : |
A-1/2/3, Nandesari Industrial Area, Nandesari, |
|
Tel. No.: |
91-265-2840325 / 366 / 548 |
|
Fax No.: |
91-265-2840622 |
|
E-Mail : |
|
|
|
|
|
Controlling
Office / Regional Office : |
402/403, Mansarovar, 90, Tel. No.
91-11-26212353/26416792/26469464 Fax. No. 91-11-26473326 E-mail. marketing@sued-chemie-india.com
Tel. No.
91-22-22071961/22074849/22075789 Fax. No. 91-22-22075780 E-mail. mumbai@sued-chemie-india.com |
DIRECTORS
(As on
30.09.2010)
|
Name : |
Ms. Arshia A Lalljee |
|
Designation : |
Managing Director |
|
Address : |
24 Aradhana enclave, Ground Floor, RK Puram, |
|
Date of Birth/Age : |
05.02.1960 |
|
Date of Appointment : |
10.07.2006 |
|
DIN No.: |
00334804 |
|
|
|
|
Name : |
Mr. Gunter Anton Von Au |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
Moosbrunner STR 32, 84489, |
|
Date of Birth/Age : |
31.07.1951 |
|
Date of Appointment : |
10.03.2009 |
|
DIN No.: |
02871259 |
|
|
|
|
Name : |
Mr. Iskander A Lalljee |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 1611-A, Beverly Park II, |
|
Date of Birth/Age : |
27.07.1962 |
|
Date of Appointment : |
10.07.2006 |
|
DIN No.: |
00334845 |
|
|
|
|
Name : |
Ms. Hamida A Lalljee |
|
Designation : |
Whole Time Director |
|
Address : |
188 A, Jorbagh, Ground Floor, |
|
Date of Birth/Age : |
02.01.1929 |
|
Date of Appointment: |
14.10.2005 |
|
DIN No.: |
00334903 |
|
|
|
|
Name : |
Mr. Viktor Bernhardt |
|
Designation : |
Director |
|
Address : |
Saalestrasse 14, D-81677, |
|
Date of Birth/Age : |
07.02.1971 |
|
Date of Appointment : |
03.11.2006 |
|
DIN No.: |
00908890 |
|
|
|
|
Name : |
Mr. Hans Joachim Mueller |
|
Designation : |
Director |
|
Address : |
Westring 31, 67279 |
|
Date of Birth/Age : |
18.04.1959 |
|
Date of Appointment : |
18.01.2002 |
|
DIN No.: |
00422662 |
KEY EXECUTIVES
|
Name : |
Mr. John E Varghese |
|
Designation : |
Vice President- Corporate Finance and Company Secretary |
|
Address : |
Ashiana, Vikas Nagar, South Kalamassery, Ernakulam – 682 022, |
|
Date of Birth/Age : |
01.12.1953 |
|
Date of Appointment : |
02.05.1990 |
|
|
|
|
Name : |
Mr. S Prakash Babu |
|
Designation : |
Executive Vice President |
|
|
|
|
Name : |
Mr. T.A. Siddiquie |
|
Designation : |
General Manager Operations |
|
|
|
|
Name : |
Mr. V Sreedaran |
|
Designation : |
General Manger Works |
|
|
|
|
Name : |
Mr. Sanjeev Mehta |
|
Designation : |
Deputy General Manager M and TS |
|
|
|
|
Name : |
Mr. P Premchand |
|
Designation : |
Vice President- Coporate HR |
|
|
|
|
Name : |
Mr. Prashant Sharma |
|
Designation : |
Manager – M and TS |
|
|
|
|
Name : |
Dr. K K Abdul Rasheed |
|
Designation : |
Vice President ( R and D) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on
30.09.2010)
|
Names of Shareholders |
No. of Shares |
|
Sud Chemie AG |
481140 |
|
Hamida A Lalljee |
276960 |
|
Fazal H Lalljee |
420 |
|
Altaf H Lalljee |
420 |
|
Hamida A Lalljee |
69720 |
|
Arshia A Lalljee |
54460 |
|
Iskander A Lalljee |
54300 |
|
Halima H Lalljee |
220 |
|
Rookiya H Lalljee |
8320 |
|
Zahid A Lalljee |
16320 |
|
|
|
|
Total |
962280 |
Equity share
breakup (percentage of total equity)
(As on
30.09.2010)
|
Category |
Percentage |
|
Foreign holdings (Foreign
institutional investor(s), Foreign companies(s) Foreign financial institutions(s),
Non-resident Indian(s) or Overseas corporate bodies of Others) |
50.00 |
|
Directors or relatives of directors |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Traders, Exporters
and Importers of Catalyst-Organic or Inorganic Crude or Refined and catalytic
converter for ammonia plants, petrochemical plants, refineries, sponge iron
plants and a host of miscellaneous chemical process plants and providing
after sales service as catalyst loading and commissioning. |
|
|
|
|
Products : |
·
High Temperature Shift ·
Low Temperature Shift ·
Desulphurisation ·
Pre-Reformer ·
Primary Reformer ·
Secondary Reformer ·
Chloride Guard ·
Zeolites ·
Catalytic Converter ·
Speciality Catalysts ·
Additives |
PRODUCTION STATUS AS ON (31.03.2010)
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Catalyst |
MT |
|
6550.000 |
5862.738 |
|
Catalytic Converter |
MT |
|
1800000 |
828375 |
GENERAL INFORMATION
|
Bankers : |
·
Canara Bank,
Mumbai,
|
BANKING FACILITIES
(Rs.
in Millions)
|
SECURED LOANS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Loans and
Advances from Banks: |
|
|
|
|
|
Term Loan |
-- |
-- |
56.909 |
105.627 |
|
Inland bill discounting |
9.116 |
-- |
118.290 |
118.290 |
|
Packing Credit |
-- |
118.857 |
199.085 |
66.083 |
|
Cash Credit |
26.414 |
69.306 |
205.786 |
339.352 |
|
Other Loans and Advances: |
|
|
|
|
|
Hire Purchase Credit |
-- |
0.567 |
2.727 |
5.031 |
|
Total |
35.530 |
188.730 |
582.797 |
634.383 |
|
|
|
|
|
|
|
UNSECURED LOANS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
From Directors |
0.800 |
0.800 |
0.800 |
0.800 |
|
Other Loans and Advances: |
|
|
|
|
|
From Banks |
-- |
0.004 |
0.216 |
0.507 |
|
From Others: |
|
|
|
|
|
Council of Scientific and Industrial Research |
6.263 |
7.713 |
9.163 |
10.613 |
|
Total |
7.063 |
8.517 |
10.179 |
11.920 |
Notes:
- Working
Capital Loans are secured by pari passu first charge on all current assets
both present and future and second charge on other fixed assets.
- The credit
arrangement referred in Note 1 and 2 are guaranteed by the Managing
Director, Joint Managing Director and the whole time director.
- The hire
purchase credit outstanding is secured against the asses purchased
thereunder.
- The unsecured
loan from bank is secured by equitable mortgage of residential houses of
employees, funded thereform.
- The loan from
Council of Scientific and Industrial Research (CSIR) is for financing the
New Millennium Indian Technology Leadership Initiative (NMITLI) project of
Government of India.
- Amounts due
and payable with next 12 Months:
(Rs.
in Millions)
|
a) Secured Loans |
31.03.2010 |
31.03.2009 |
|
Term Loan |
-- |
-- |
|
Inland bill discounting |
9.116 |
-- |
|
Packing Credit |
-- |
118.857 |
|
Cash Credit |
26.414 |
69.306 |
|
|
|
|
|
b) Unsecured Loans: |
|
|
|
From Directors |
-- |
-- |
|
From Banks |
-- |
0.004 |
|
From Council of Scientific and Industrial Research |
1.450 |
1.450 |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Varma and Varma Chartered Accountant |
|
Address : |
Sriniketan, |
|
|
|
|
Memberships : |
Confederation of Indian
Industry |
|
|
|
|
Companies under common Control: |
·
Sud-m Chemie A.g. ·
Sud Chemie Inc, ·
Sud- Chemie Catalyst Japan Inc, ·
P.T. Kujang Sud- Chemie Catalysta, ·
Sud Chemie ·
Shanghi Sud – Chemie Catalysts Company Limited, ·
Sud Chemie Catalysts Italia S.R.L, ·
Sud- Chemie Australia Pty Limited, Austraila ·
P.T. Sud- Chemie- Kernfest GmbH ·
Sud- Chemie |
|
|
|
|
Co-Ventures : |
·
Hooseinbhoy A Lalljee Sons and Company ·
Sud-Chemie A G |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
962280 |
Equity Shares |
Rs.10/- each |
Rs.9.623
millions |
Notes
1.
Non residents :
Number of
shareholder – Sud-Chemie AG,
Number of shares
held = 481140
2.
Dividend remitted during
the year = 6014250
3.
746435 equity shares
issued for consideration other than cash.
4.
746435 equity shares
include :
·
95430 equity shares
issued for technical know-how and equipment
·
651005 equity shares
issued as Bonus Shares by capitalization of reserves
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
9.623 |
9.623 |
9.623 |
9.623 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1843.575 |
1420.637 |
906.278 |
613.699 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1853.198 |
1430.260 |
915.901 |
623.322 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
35.530 |
188.730 |
582.797 |
634.383 |
|
|
2] Unsecured Loans |
7.063 |
8.517 |
10.179 |
11.920 |
|
|
TOTAL BORROWING |
42.593 |
197.247 |
592.976 |
646.303 |
|
|
DEFERRED TAX LIABILITIES |
51.625 |
31.103 |
19.663 |
25.483 |
|
|
|
|
|
|
|
|
|
TOTAL |
1947.416 |
1658.610 |
1528.540 |
1295.108 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
489.564 |
408.074 |
277.095 |
243.510 |
|
|
Capital work-in-progress |
59.243 |
86.526 |
81.318 |
25.880 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
334.475 |
0.100 |
109.437 |
60.221 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
634.395
|
673.599
|
614.851
|
477.916 |
|
|
Sundry Debtors |
534.031
|
581.085
|
690.509
|
471.240 |
|
|
Cash & Bank Balances |
244.834
|
186.133
|
51.658
|
104.715 |
|
|
Other Current Assets |
68.419
|
60.735
|
48.752
|
0.000 |
|
|
Loans & Advances |
134.529
|
62.978
|
44.181
|
132.316 |
|
Total
Current Assets |
1616.208
|
1564.530 |
1449.951
|
1186.187 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditors |
137.506
|
157.845
|
241.917
|
|
|
|
Other Current Liabilities |
9.908
|
22.881
|
23.072
|
199.202 |
|
|
Provisions |
404.660
|
219.894
|
124.272
|
21.488 |
|
Total
Current Liabilities |
552.074
|
400.620 |
389.261
|
220.690 |
|
|
Net Current Assets |
1064.134
|
1163.910 |
1060.690
|
965.497 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
1974.416 |
1658.610 |
1528.540 |
1295.108 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income from |
3198.070 |
3183.420 |
2249.500 |
2054.300 |
|
|
|
Income from Trading Operations |
274.970 |
165.500 |
24.400 |
1.900 |
|
|
|
Other Income |
149.560 |
47.050 |
37.900 |
20.800 |
|
|
|
TOTAL (A) |
3622.600 |
3395.970 |
2311.800 |
2077.000 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Expenses incurred on Manufacturing |
1768.850 |
1878.950 |
1447.100 |
1423.900 |
|
|
|
Cost of goods Traded |
256.680 |
62.980 |
16.900 |
1.600 |
|
|
|
Administrative and Selling Expenses |
381.910 |
418.760 |
246.300 |
179.900 |
|
|
|
R and D Expenses |
38.080 |
38.460 |
23.100 |
17.300 |
|
|
|
|
|
|
|
1622.7 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL (B) |
2445.520 |
2399.150 |
1733.400 |
1622.700 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
177.080 |
996.820 |
578.400 |
454.300 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES/ INTEREST (D) |
4.750 |
18.380 |
34.100 |
32.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
172.330 |
978.440 |
544.300 |
422.300 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
58.900 |
44.600 |
34.000 |
25.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1113.430 |
933.840 |
510.300 |
397.300 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
390.330 |
312.5.0 |
486.600 |
137.700 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
723.100 |
621.310 |
340.000 |
259.600 |
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
Export Earnings |
2321.100 |
2124.300 |
1668.798 |
1547.044 |
|
|
|
Agency Commission |
NA |
10.478 |
22.678 |
10.151 |
|
|
TOTAL EARNINGS |
2321.100 |
10.478 |
22.678 |
1557.195 |
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
Raw Materials |
NA |
847.366 |
534.413 |
545.513 |
|
|
|
Purchase for trading |
NA |
63.252 |
1.014 |
1.283 |
|
|
|
Equipment |
NA |
15.643 |
-- |
6.667 |
|
|
|
Stores & Spares |
NA |
0.338 |
0.597 |
1.245 |
|
|
TOTAL IMPORTS |
NA |
926.599 |
0.935 |
554.708 |
|
|
|
|
|
|
|
|
|
|
|
Basic/ Diluted
Earnings Per Share (Rs.) |
751.44 |
645.67 |
353.300 |
269.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
19.96
|
18.30 |
14.71
|
12.64 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
30.74
|
27.50 |
22.07
|
19.13 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
52.88
|
25.87 |
29.55
|
27.79 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60
|
0.65 |
0.56
|
0.64 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.32
|
0.42 |
1.07
|
1.39 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.92
|
3.91 |
3.72
|
5.37 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
REVIEW:
During the year, the company continued its march towards excellence and
was able to achieve and exhibit a robust performance. Sales during the year
increased to Rs. 3473.040 Millions from Rs. 3348.920 Millions in the previous
year, recording a growth of 4%. Profit before tax increased to Rs. 1113.430
Millions form Rs. 933.840 Millions recording an increase of 19%. Sales turnover
(net of duties and taxes) form Edayar unit and Nandesari unit are as follows.:
(Rs. in Millions)
|
Particulars |
31.03.2010 |
% |
31.03.2009 |
% |
|
Edayar Unit |
899.100 |
26% |
755.830 |
23% |
|
Nandesari Unit |
2298.970 |
66% |
2427.540 |
72% |
|
Trading |
274.970 |
8% |
165.500 |
5% |
|
Total |
3473.040 |
100% |
3348.920 |
100% |
Split up of sales to third parties and group companies is as follows:
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
% |
31.03.2009 |
% |
|
To Third Parties |
2047.690 |
59% |
1720.010 |
51% |
|
To Group Companies |
1425.650 |
41% |
1628.910 |
49% |
|
Total |
3473.040 |
100% |
3348.920 |
100% |
Spilt up of exports is as follows:
|
Particulars |
31.03.2010 |
% |
31.03.2009 |
% |
|
Exports to/ through group companies |
1425.650 |
62% |
1628.910 |
77% |
|
Exports to others |
862.170 |
38% |
485.090 |
23% |
|
Total |
2287.820 |
100% |
2114.000 |
100% |
Export to/ through group companies constitutes major portion of the exports. Contribution of
SCI, SCJ an SCAG towards this are commendable. The Board places on record it appreciation
for the assistance from these companies and other affiliate companies for their
efforts to gain new export markets for the products.
Some of the significant Profit ratios and Sales ratios are as follows:
|
Particulars |
Percentage of Total Sales |
|
|
31.03.2010 |
31.03.2009 |
|
|
Profit before interest and taxes (EBIT) |
32% |
27% |
|
Profit before tax and exceptional item |
32% |
28% |
|
Profit after tax and exceptional items |
21% |
19% |
|
Sales Ratio |
|
|
|
Domestic Sales |
34% |
31% |
|
Export Sales |
66% |
63% |
|
Trading Sales (included above) |
8% |
5% |
|
Sales of Catalytic converter (include above) |
11% |
9% |
Increase in profit and profitability was mainly due to reduction in material
prices, profitable product mix and favourable fixed cost ratio. Increase in
input cost due to price fluctuation could be passed on to the customers.
Total production of catalyst was 5863 MT as against 6014 MT during the
previous financial year, Catalytic converter production was 828375 nos. against
557620 nos. in the previous year. Catalytic converter sale Was Rs. 386.690
Millions against Rs. 273.670 Millions during the previous year.
Order book position is as follows:
|
Particulars |
Rs . in Millions |
|
|
31.03.2010 |
31.03.2009 |
|
|
Orders in hand
as at 31st March, 2010 |
|
|
|
Catalysts value |
1162.800 |
2504.800 |
|
Catalysts Quantity (CM) |
2039 |
3758 |
|
Catalytic Converter- Value |
151.200 |
73.000 |
|
Numbers (Catcon) |
328000 |
146000 |
|
Order in had as
at 30th June, 2010 |
|
|
|
Catalysts value |
1527.500 |
2427.600 |
|
Catalysts Quantity (CM) |
2968 |
3354 |
|
Catalytic Converter- Value |
154.200 |
75.000 |
|
Numbers (Catcon) |
322000 |
187500 |
CONTINGENT LIABILITIES
NOT PROVIDED FOR:
|
Particulars |
Rs . in Millions |
|
|
31.03.2010 |
31.03.2009 |
|
|
i) Disputed demands under appeal which in the opinion of management is
not legally sustainable and hence not provided for : |
|
|
|
Sales- tax |
0.674 |
0.617 |
|
Income Tax |
198.564 |
Nil |
ii) Outstanding Guarantees and Counter Guarantees- Rs. 262.045 Millions
(Rs. Rs. 371.662 Millions)
iii) Outstanding Letter of Credit opened by the company as on 31.03.2010
is Rs. 5.667 Millions (Rs. 7.302 Millions)
iv) Duty benefit availed under Advance License scheme, pending export
obligation is Rs. 12.082 Millions (Rs. 32.681 Millions)
v) Capital Commitments: Estimated amount of contracts remaining to be
executed on capital account not provided
for (Net of Advances) – Rs. 12.200 Millions (Rs. 32.000 Millions)
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24299KL1969PTC002217 |
|
Name of the
company |
SUD CHEMIE INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Edayar Industrial Development Area, Binanipuram P O Aluva, Ernakulam –
683 502, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90020302 |
|
Type of charge |
Immovable Property Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
1) Omnibus Counter Guarantee 2) Letter Regarding the grant of Individual
Limits Within the overall limit 3) Supplemental Deed of Guarantee for Incrase
in overall limit 4) Supplemental Agreement of Hypothecation of
goods and assets for increase in the overall limit. 5) Supplemental Agreement of loan for
increase in the overall limit. |
|
Date of
instrument Creating the charge |
15.10.2010 |
|
Amount secured by
the charge |
Rs. 600.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit @ 4% above
State Bank base rate, present effective rate being 11.00% p.a. and for EPC-
As per SBI Exporters Gold Card Scheme. Terms of
Repayment As stipulated by
bank from time to time. Margin Raw Material- 10% Stocks –in –
process- 10% Finished Goods-
10% Book Debts/
Receivables- 10% Letter of Credit
and bank guarantee- 10% Extent and
Operation of the charge This is a pari
passu second charge created on all the present and future goods, book debts
other movable assets, and fixed assets as detailed in the supplemental
agreement of hypothecation of goods and assets and specific immovable
property including factory land and building in the name of the company as
details in the EM extension letter. |
|
Short particulars
of the property charged |
All the present
and future goods, book debts other movable assets, and fixed assets as
detailed in the supplemental agreement of hypothecation of goods and assets. 21 Acre 52 cents
in Shed No. A-1-80:
5017 Sq.m., Shed No. 1-81: 5016 sq.m in |
|
Particulars of
the present modification |
|
|
Corporate identity
number of the company |
U24299KL1969PTC002217 |
|
Name of the
company |
SUD CHEMIE INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Edayar Industrial Development Area, Binanipuram P O Aluva, Ernakulam –
683 502, |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
State Bank of Overseas Branch, |
|
Nature of
instrument creating charge |
·
Supplemental
Agreement of Loan for increase in the Overall Limit in Form C.1-A ·
Supplemental
Agreement of Hypothecation of Goods and assets for increase in the Overall
Limit in Form C.2-A ·
Letter
regarding the grant of individual limits within the Overall Limit |
|
Date of
instrument Creating the charge |
26.03.2008 |
|
Amount secured by
the charge |
Rs.520.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of interest For Cash Credit – 1.50% below SBAR, currently 11.25% pa For EPC – As per SBI Exporters Gold Card Scheme ·
Terms
of repayment As stipulated by the Bank from time to time ·
Margin 100% ·
Extent
and operation of the charge This is a charge on all present and future goods, book debts and other
movable assets of the Company ·
Others Total limits of Rs.520.000 millions is as follows: Nature of Facility Amount
Rs. millions Cash Credit 70.000 EPC
160.000 FBD (LC)
20.000 IB (LC)
120.000 Bank Guarantee 150.000 Letter of Credit 37.500 (Sub
limit of Bank Guarantee) (Cash Credit and EPC are fully interchangeable) |
|
Particulars of
the property charged |
All present and
future goods, book debts and other movable assets of the Company |
Fixed Assets
·
Land (Freehold)
·
Land (Leasehold)
·
Roads and Buildings
·
Plant and Machinery
·
Vehicles
·
Furniture and Fixtures
·
Office equipment
Web Details
History
The company was Registered in 1969 as Catalysts and Chemicals India (
The company has been catering to the Syngas catalyst requirements of almost all
the fertiliser manufacturing companies in
Awards
- Received
Second Award for export performance during 1984-85 from CHEMEXCIL.
- Received ICMA
award in 1989 for outstanding role in developing Encilite-2 a high-tech
catalyst along with NCL and playing crucial role in the development of
Albene technology successfully commercialised by Hindustan Polymers.
- Received ICMA
award in 1990 for exporting Knowledge based high tech products in
competition with world’s renowned companies.
- Received from
CHEMEXCIL certificate of Merit for outstanding export performance during
1992-93.
- Received
ICWAI National Award for Excellence in Cost Management 2008. (ICWAI – THE
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.45.27 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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.