MIRA
INFORM REPORT
|
Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
NEW ALLIANCE DYE CHEM PRIVATE LIMITED |
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Registered
Office : |
Ram Krishna Niwas, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.06.1986 |
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Com. Reg. No.: |
11-040229 |
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Capital
Investment / Paid-up Capital : |
Rs.0.986 Million |
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CIN No.: [Company Identification
No.] |
U24100MH1986PTC040229 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN05966C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Bromides, Cuprous Bromide, Oxalates etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 110000 |
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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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
Ram Krishna Niwas, |
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Tel. No.: |
91-22-26171907 |
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Fax No.: |
91-22-26171908 |
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E-Mail : |
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Factory: |
K-63, MIDC, Tarapur, Post Boisar, District Thane-401506, |
DIRECTORS
As on 27.09.2010
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Name : |
Mr. Praful Anant Sompurkar |
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Designation : |
Director |
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Address : |
19, |
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Date of Birth/Age : |
11.12.1949 |
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Date of Appointment : |
26.06.1986 |
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Din No.: |
00828307 |
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Name : |
Mrs. Kirti Praful Sompurkar |
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Designation : |
Director |
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Address : |
19, |
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Date of Birth/Age : |
06.04.1950 |
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Date of Appointment : |
17.09.1999 |
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Din No.: |
02896201 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
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No. of Shares |
|
Praful Anant Sompurkar |
|
615 |
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Kirti Praful Sompurkar |
|
4810 |
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Anand Praful Sompurkar |
|
2680 |
|
Arvind Praful Sompurkar |
|
1751 |
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Total |
|
9856 |
As on 27.09.2010
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Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Bromides, Cuprous Bromide, Oxalates etc. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
NKGSB Co-Operative Bank Limited, Mulji Radhavji Co-Operative Housing
Society, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ladha and Ladha Chartered Accountant |
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Address : |
3/312, Navjivan Society, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9856 |
Equity Shares |
Rs.100/- each |
Rs.0.986 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9856 |
Equity Shares |
Rs.100/- each |
Rs.0.986 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
0.986 |
0.986 |
0.986 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
27.135 |
23.192 |
17.674 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
28.121 |
24.178 |
18.660 |
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LOAN FUNDS |
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1] Secured Loans |
22.494 |
2.860 |
1.036 |
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2] Unsecured Loans |
3.000 |
3.051 |
1.151 |
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TOTAL BORROWING |
25.494 |
5.911 |
2.187 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
53.615 |
30.089 |
20.847 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
16.474 |
2.523 |
3.747 |
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Capital work-in-progress |
0.000 |
4.795 |
0.000 |
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INVESTMENT |
0.773 |
0.812 |
0.701 |
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DEFERREX TAX ASSETS |
0.445 |
0.462 |
0.257 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
25.086
|
6.538 |
7.792 |
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Sundry Debtors |
15.664
|
8.120 |
10.367 |
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Cash & Bank Balances |
7.769
|
11.384 |
0.794 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
11.714
|
4.532 |
4.441 |
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Total
Current Assets |
60.233
|
30.574 |
23.394 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
17.724
|
3.896 |
3.426 |
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Other Current Liabilities |
0.461
|
0.711 |
0.469 |
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Provisions |
6.125
|
4.470 |
3.357 |
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Total
Current Liabilities |
24.310
|
9.077 |
7.252 |
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Net Current Assets |
35.923
|
21.497 |
16.142 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
53.615 |
30.089 |
20.847 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL |
95.734 |
88.396 |
45.090 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
90.118 |
79.994 |
40.739 |
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Advertising Expenses |
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TOTAL |
90.118 |
79.994 |
40.739 |
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PROFIT BEFORE
TAX |
5.616 |
8.402 |
4.351 |
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Less |
TAX |
1.673 |
3.055 |
1.415 |
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PROFIT AFTER TAX
|
3.943 |
5.347 |
2.936 |
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Earnings Per
Share (Rs.) |
400.07 |
542.51 |
297.85 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.12
|
6.05 |
6.51 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.32
|
25.39 |
16.03 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.35 |
0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.77
|
0.62 |
0.50 |
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Current Ratio (Current Asset/Current Liability) |
|
2.47
|
3.37 |
3.23 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24100MH1986PTC040229 |
|
Name of the
company |
NEW ALLIANCE DYE CHEM PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Ram Krishna Niwas, |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
NKGSB Co-Operative Bank Limited, Mulji Radhavji Co-Operative Housing
Society, |
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Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Composite
hypothecation agreement |
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Date of
instrument Creating the charge |
15.10.2010 |
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Amount secured by
the charge |
Rs.2.625 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of interest @
13% p.a. or at such other rates as may be decided by the bank, from time to
time. Terms of
Repayment Repayment by way
of 84 EMIs of Rs.0.049 million each. Margin 25% Extent and
Operation of the charge To secure the due
repayment of term loan, together with interest, cost, charges and expenses
thereon, granted by the bank to the company.
|
|
Short particulars
of the property charged |
All present and
future, machineries of the company, as per copies of bills/ invoices. |
Fixed Assets:
- Plant and
Machinery
- Steam Boiler
- Plant and
Machinery
- Furniture and
Fixtures
- Computer and
Printers
- Vehicles
- Office
Equipments
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.45.37 |
|
|
1 |
Rs.73.53 |
|
Euro |
1 |
Rs.64.37 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
YES |
|
TOTAL |
|
46 |
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.