MIRA
INFORM REPORT
|
Report Date : |
28.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
AQUAPHARM CHEMICALS PRIVATE LIMITED (w.e.f. 21.04.1981) |
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Formerly Known
As : |
VIKRAM ION EXCHANGERS PRIVATE LIMITED |
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Registered Office : |
S-1, M.I.D.C.,
Bhosari, Pune – 411 026, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
02.03.1974 |
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Com. Reg. No.: |
11-017243 |
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CIN No.: [Company
Identification No.] |
U24231MH1974PTC017243 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer, Exporter, Distributor and Importer of
Phosphonates. |
RATING & COMMENTS
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MIRA’s Rating : |
A (62) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 3607000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. 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) |
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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 |
INFORMATION PARTED BY
|
Name : |
Mr. R.B. Sudumbrekar |
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Designation : |
Chief Financial Officer |
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Contact No.: |
91-20-27123590 |
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Date : |
26.02.2011 |
LOCATIONS
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Registered Office : |
S-1, M.I.D.C.,
Bhosari, Pune – 411 026, |
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Tel. No.: |
91-20-27123590/
27122401/ 2/ 66090000 |
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Mobile No.: |
91-9561655999
(Mr. Anant Joshi – Purchase Manager) |
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Fax No.: |
91-20-27121395/
26053396 |
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E-Mail : |
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Website : |
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Area : |
800 sq ft (Approximately) |
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Location : |
Owned |
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Head Office : |
3rd
Floor, Atur Chambers, |
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Tel. No.: |
91-20-66090000 |
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Fax No.: |
91-20-26053396 |
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E-Mail : |
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Factory 1 : |
At and Near |
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Tel. No.: |
91-2139-22883 /
22792 |
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Fax No.: |
91-2139-22362 |
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Area : |
10665 sq ft |
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Location : |
Owned |
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Factory 2 : |
K-3/ 1, 2 and 3,
Additional Mahad M.I.D.C. Area, Mahad Raigad – 402 302, |
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Area : |
53547 sq ft |
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Location : |
Owned |
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R and D Office
: |
S-1, M.I.D.C.,
Bhosari, Pune – 411 026, |
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Branch Office
: |
Located at: ·
·
Chennai ·
·
Kolkata |
DIRECTORS
As on 02.07.2010
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Name : |
Mr. Nitin Raoji Bhai Desai |
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Designation : |
Chairman cum Managing Director |
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Address : |
457, Sindh Housing Society, Aundh, Pune – 411 007, |
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Date of Birth/Age : |
01.11.1943 |
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Qualification : |
Graduate |
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Date of Appointment : |
30.08.1980 |
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DIN No.: |
00140239 |
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Name : |
Mr. Vishin Khushaldas Mangwani |
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Designation : |
Managing Director |
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Address : |
242, Sindh Housing Society, Aundh, Pune – 411 007, |
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Date of Birth/Age : |
01.07.1933 |
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Qualification : |
Inter Science |
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Experience : |
55 Years |
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Date of Appointment : |
02.03.1974 |
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DIN No.: |
00352161 |
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Name : |
Mr. Nathubhai Haribhai Desai |
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Designation : |
Director |
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Address : |
20, Purna Prasad Extension, Race Course, |
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Date of Birth/Age : |
13.04.1925 |
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Date of Appointment : |
30.08.1980 |
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Date of Ceasing : |
10.11.2009 |
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DIN No.: |
00141130 |
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Name : |
Mrs. Vimal Vishin Mangwani |
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Designation : |
Joint Managing Director |
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Address : |
303, Sindh Housing Society, Aundh, Pune – 411 007, |
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Date of Birth/Age : |
13.09.1956 |
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Qualification : |
B.Sc., MBA |
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Experience : |
31 Years |
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Date of Appointment : |
11.11.1991 |
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DIN No.: |
00352180 |
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Name : |
Mr. Sanjay Jasubhai Desai |
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Designation : |
Director |
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Address : |
14, |
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Date of Birth/Age : |
08.05.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
28.12.1998 |
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DIN No.: |
00140307 |
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Name : |
Mr. Dharmesh Vishin Mangwani |
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Designation : |
Managing Director |
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Address : |
209, Sindh Housing Society, Aundh, Pune – 411 007, |
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Date of Birth/Age : |
16.04.1963 |
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Qualification : |
B.Com |
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Experience : |
25 Years |
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Date of Appointment : |
13.12.2010 |
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DIN No.: |
00467962 |
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Name : |
Mr. Subramanian Padmanabhan |
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Designation : |
Director |
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Address : |
30, Vishrambaug Society, |
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Date of Birth/Age : |
01.09.1939 |
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Date of Appointment : |
14.09.2005 |
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DIN No.: |
00001207 |
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Name : |
Mr. Bimal Natubhai Desai |
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Designation : |
Director |
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Address : |
AMI 4, Purna Prasad Extension, Race Course, |
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Date of Birth/ Age : |
13.04.1959 |
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Date of Appointment : |
02.07.2010 |
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DIN No.: |
00141120 |
KEY EXECUTIVES
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Name : |
Mr. Anant Joshi |
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Designation : |
Purchase Manager |
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Name : |
Mr. R.B. Sudumbrekar |
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Designation : |
Chief Financial Officer |
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Date of Birth/ Age : |
54 Years |
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Qualification : |
B.Sc., MBA, PGDB |
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Experience : |
32 Years |
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Date of Appointment : |
18.12.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.07.2010
|
Names of Shareholders |
|
No. of Shares |
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Vishin K. Mangwani |
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19551 |
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Kamal V. Mangwani |
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27180 |
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Natuhubhai H. Desai |
|
5436 |
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Bimal N. Desai (HUF) |
|
10869 |
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Sanjay J. Desai (HUF) |
|
7248 |
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Nitin R. Desai (HUF) |
|
15219 |
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Vimal Mangwani |
|
42029 |
|
Desons Holdings Private Limited, |
|
6522 |
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Nitin R. Desai |
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3624 |
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Dharmesh V. Mangwani |
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49274 |
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Sanjana S. Desai |
|
7248 |
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Meena N. Desai |
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7248 |
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Sheetal R. Navani |
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7248 |
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Nisha N. Desai |
|
3745 |
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Reema N. Desai |
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3745 |
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Parul N. Desai |
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7245 |
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Sanjay J. Desai |
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6159 |
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J.H. Desai Will Sanjana Prisha Trust, |
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5436 |
As on 02.07.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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2.17 |
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Directors
or relatives of directors |
|
97.83 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter, Distributor and Importer of
Phosphonates. |
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Products : |
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Exports : |
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Products : |
Phosphonates |
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Countries : |
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Imports : |
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Products : |
Sodium Thiocyanate |
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Countries : |
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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, Cash and Credit (30/ 60/ 90 days)
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PRODUCTION STATUS (AS ON 31.03.2009)
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Organophosphonates |
M.T. |
|
48075 |
29629.77 |
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Dispersants and
Biocides |
M.T. |
|
2400 |
1119.24 |
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Formulation |
M.T. |
|
3568 |
484.56 |
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Others |
M.T. |
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-- |
1119.24 |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
v The Cosmos
Co-Operative Bank Limited, 269/270, Saniwar Peth, v
Corporation Bank, Industrial
Finance Branch, 14, v
State
Bank of v Bank of |
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Facilities : |
Notes: 1 Working Capital borrowing from Banks are secured by Hypothecation of Raw materials, Work in progress, Finished goods, Sundry debtors and further secured by personal guarantees of the Directors of the Company. (at cost). 2 Term Loans from Banks are secured by Equitable Mortgage of Fixed Assets of the Company and floating charge over all other assets of the Company which is further secured by personal guarantees of Directors of the Company [(Payable within one year Rs.45.247 millions (Rs.48.989 millions)] 3 Vehicle Finance from ICICI Bank and Corporation Bank are secured by Hypothecation of respective Vehicles. [(Amount payable within one year Rs.2.549 millions. (Rs.2.091 millions)]
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Khandelwal Jain and Associates Chartered Accountants |
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Address : |
1st Floor, |
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Memberships : |
·
Fertiliser Association of ·
Mahratta Chamber of Commerce and Industry ·
Basic Chemicals,
Pharmaceuticals and Cosmetics Export promotion Council. |
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Associates Company : |
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Subsidiaries : |
CIN No. : U72200PN2000PTC014910 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 millions |
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Note:
Out of the above 258600 shares are issued as
fully paid Bonus Shares by capitalization of Capital Reserve.
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 |
30.000 |
30.000 |
30.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
871.722 |
547.211 |
340.390 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
901.722 |
577.211 |
370.390 |
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LOAN FUNDS |
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1] Secured Loans |
133.131 |
195.397 |
226.662 |
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2] Unsecured Loans |
467.685 |
293.089 |
285.351 |
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TOTAL BORROWING |
600.816 |
488.486 |
512.013 |
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DEFERRED TAX LIABILITIES |
34.475 |
40.014 |
33.165 |
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TOTAL |
1537.013 |
1105.711 |
915.568 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
428.169 |
446.307 |
394.051 |
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Capital work-in-progress |
53.631 |
13.380 |
36.844 |
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INVESTMENT |
0.873 |
0.873 |
0.873 |
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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 |
386.288
|
289.207 |
244.413
|
|
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Sundry Debtors |
548.597
|
510.399 |
420.236
|
|
|
Cash & Bank Balances |
436.519
|
24.385 |
23.991
|
|
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Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
304.216
|
183.457 |
100.866
|
|
Total
Current Assets |
1675.620
|
1007.448 |
789.506 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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|
|
|
Sundry Creditors |
260.168 |
135.470 |
203.034 |
|
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Other Current Liabilities |
146.833
|
97.656 |
58.980
|
|
|
Provisions |
214.279
|
129.171 |
43.692
|
|
Total
Current Liabilities |
621.280
|
362.297 |
305.706
|
|
|
Net Current Assets |
1054.340
|
645.151 |
483.800
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1537.013 |
1105.711 |
915.568 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
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Income |
2291.629 |
2175.896 |
1387.875 |
|
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Other Income |
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TOTAL |
2291.629 |
2175.896 |
1387.875 |
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Less |
EXPENSES |
|
|
|
|
|
|
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|
1820.913 |
1843.225 |
1284.762 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
1820.913 |
1843.225 |
1284.762 |
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PROFIT BEFORE
TAX |
470.716 |
332.671 |
103.113 |
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Less |
TAX |
40.910 |
20.554 |
18.929 |
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PROFIT AFTER TAX
|
429.806 |
312.117 |
84.184 |
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EARNINGS IN
FOREIGN CURRENCY |
|
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|
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|
F.O.B. value of Exports |
1712.748 |
1559.700 |
907.095 |
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TOTAL EARNINGS |
1712.748 |
1559.700 |
907.095 |
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IMPORTS |
|
|
|
|
|
|
|
|
914.723 |
1005.445 |
575.766 |
|
|
|
Capital Goods |
|
0.268 |
2.409 |
|
|
TOTAL IMPORTS |
914.723 |
1005.713 |
578.175 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1432.69 |
1040.39 |
280.61 |
|
Expected Sales (2010-2011): Rs.2500.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
18.76
|
15.29 |
6.07
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.37
|
22.88 |
8.71
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.58 |
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.36
|
1.47 |
2.21
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.70
|
2.78 |
2.58
|
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from S-1, M.I.D.C., Bhosari, Pune – 411 029,
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
260.168 |
135.470 |
203.034 |
|
|
|
|
|
OPERATIONS:
Some of the highlights of this year’s operations are as follows-
• During the year, imported raw material prices stabilized to their
normal levels. The supply of key imported raw materials, which had become
erratic in the previous year, also got normalized. This helped the Company to
plan its sales in a better way which resulted in increased sales volume, during
the year.
Total Sates Turnover for the year was Rs.2268.000 millions (previous
year Rs.2111.700 millions) of which export sales was Rs.1895.500 millions (~
83%). Growth in export sales was about 11.33% over the previous year. However,
during the year, there was a drop in Domestic Sales (Rs.372.500 millions) of
about 9%, compared to the previous year. This was mainly because of slower
economic recovery, especially in the 1L half of the year.
The price stability, improvement in export sales and proper cost
management helped the Company to achieve higher profit before tax of Rs.470.700
millions.
• During the year, Production and Sales from Mahad Plant increased
slightly. Sales went up by about 4%. Sales from Mahad facility were Rs.1950.000
millions, which, represents about 86% of the total turnover of the Company.
• The Company has done further expansion at Mahad Plant to increase the
manufacturing capacity of HEDP and Acetyl Chloride. The expansion is in process
and expected to be completed by December 2010. Alter expansion, the capacity
will be increased by 3000 MT p.a. for HEDP and 1000 MT p.a. for Acetyl
Chloride.
TRADE REFERENCES:
- Aeon India
Corporation Private Limited
FIXED ASSETS
·
Freehold
land
·
·
Building
·
Plant
and Machinery
·
Technical
Know-How
·
Electrical
Installation
·
Vehicles
·
Furniture
and Fittings
·
Data
Processing Machines
·
Office
Equipments
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24231MH1974PTC017243 |
|
Name of the
company |
AQUAPHARM CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S-1, M.I.D.C.,
Bhosari, Pune – 411 026, E-Mail: soni.a@aquapharm.net |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Corporation Bank,
Industrial Finance Branch, 14, E-Mail: cb502@corpbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Joint Mortgage
Deed |
|
Date of
instrument Creating the charge |
16/11/2010 |
|
Amount secured by
the charge |
Rs.424.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per respective
sanction letters. Terms of
Repayment: As per respective
sanction letters. Margin: As per respective
sanction letters. Extent and
Operation of the charge: 1st
charge on land, building, P and M, structures at Plot No K-3/1, K-3/2,
Additional MIDC, Village Kalji, Mahad and 1st charge on immovable
property (office premises) situated at Amar Synergy, 12B, Sadhu Viswani Road,
Pune (i) Entire 9th Floor, A Wing Off # 901 with 18 car parking
(ii)Entire 10th Floor, A Wing Off # 1001 with 12 car parking (iii)
Hypo movable assets acquired /to be acquired for office premises Others: The charge is to
secure various Term Loans amounting to Rs.424.000 millions granted by
Corporation Bank from time to time. |
|
Short particulars
of the property charged |
1st charge
on land, building, P and M, structures at Plot No K-3/1, K-3/2, Additional
MIDC, Village Kalji, Mahad and 1st charge on immovable property
(office premises) situated at Amar Synergy, 12B, Sadhu Viswani Road, Pune (i)
Entire 9th Floor, A Wing Off # 901 with 18 car parking (ii)Entire
10th Fl, A Wing Off # 1001 with 12 car parking (iii)
Hypothecation movable assets acquired /to be acquired for office premises. |
|
Name of the company |
AQUAPHARM CHEMICALS COMPANY
PRIVATE LIMITED |
|
Presented
By |
CORPORATION BANK, NO. 14, PUNE – |
|
1) Date and description of instrument
creating the change |
Common Deed of hypothecation of
movables/assets/debts dated 28.08.2002 Memorandum of deposit of title deeds dated
28.08.2002 Both the above documents constitute a single
charge dated 28.08.2002 |
|
2) Amount secured by the charge/amount owing
on the securities of charge |
Foreign currency term loan [FCTL] USD 2200000.00 [equivalent to Indian Rupees 110000000/-] Sub Limit under FCTL [Import LC [DA/DP] – Rs. 20 millions |
|
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 |
First charge in favour of Corporation Bank
No. 14, Pune – Mumbai Road, Wakdewadi, Pune – 411003 by way of hypothecation
of both present and future movables such as plant and machinery, equipment,
accessories/ancillary, machines, spares, ACL distillation piping and other
installations, furniture, fixtures and fittings, appliances, generators and
other electrical installations, office equipment, etc procured / to be
procured and stores situated at plot no. K-3/1 K-3/2 and OS -4, at MIDC
Mahad, Pune or at any other place [s] to be intimated by the company to the
bank from time to time Equitable mortgage by means of first charge
on the following properties : a. all other piece and parcel of land
bearing no. K-3/1 and K-3/2 and building constructed / to be constructed
thereon in additional mahad industrial area within the limits of village –
kalij outside the limits of municipal council, taluka mahad district raigad
admeasuring 53547 square meters and bounded by Towards North : by Towards South : by Plot no. K – 5 Towards West : by plot no. K – 3/3 Towards East : by open space no. 4 b. All that piece and parcel of land bearing
no. OS – 4 additional mahad industrial areas, within the limits of village
kalij taluka mahad, district raigad bounded by Towards North : by Towards South : by MIDC Boundry Towards West : by plot no. K – 3/1 and K –
3/2 Towards East : by MIDC Boundry |
|
4) Gist of the terms and conditions and
extent and operation of the charge. |
Rate of interest
: Floating rate of 1.25%
p.a. over and above London Inter Bank Offered Rate [LIBOR] for US dollars
compounded with monthly/quarterly rests for value receipt or at such lending
rate that the bank may determine to charge from time to time in terms of the
directives of RBI or otherwise at its discretion and also so long as the
principal or part thereof remains unpaid For Import LC :
commission of banks prescribed rates Repayment :
repayable in 16 quarterly installments of $ 0.1375 million each [equivalent
to Indian Rupees 6.875 millions] commencing 30.06.2003 and ending 31.03.2007.
Interest to be paid as and when debited |
|
5) Name and Address and description of the
person entitled to the charge. |
Corporation Bank,
No. 14, |
|
6) Date
and brief description of instrument modifying the charge |
Second Supplemental Common Deed of
Hypothecation of Movables/Assets/Debts dated 16.05.2005 |
|
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. |
Past Modification By the first modification dated 25.08.2003
the charge was modified as under
rate of interest : 12.75% p.a. being 50%
over and banks prime lending rate which is 12.25% p.a. as at present, raising
or falling with the banks PLR or at such lending rate that the bank may
determine to charge from time to time and also so long as the principal or
part thereof remains unpaid. Interest
shall be paid as and when debited Present modification By the present modification, being second
modification dated 16.05.2005, the charge has been modified as under : i.
i.
the term loan limit has been increased from Rs.
130 millions to Rs. 165 millions against continuation and extension of charge
on moveable assets as detailed in the original deed of hypothecation dated
28.08.2002 and as specifically described in the present supplemental deed
dated 16.05.2005 as under continuing first charge by way of
hypothecation of movables such as plant and machinery, equipments, accessories,
ancillary machines, spares, ACL distillation piping and other installations,
spray driers, incinerators, lab R&D equipments, furniture, fixtures and
fittings, appliances, generators, and other electrical installations, office
equipment etc already procured / to be procured and stored/situated/lying at
plot no. K-3/1, K-3/2 and OS -4 at MIDC Mahad, Pune or at any other place [s]
to be intimated by the company to the bank from time to time and charge on
immoveable property created on 28.08.2002 shall cover the enhanced limit of
Rs. 165 millions the rate of interest has been revised as
under : Rate of interest : 11% p.a. [i.e. COBAR
10.50% + 0.50% of term premium p.a.] at present, rising or falling with the
Bank’s PLR or at such Lending rate that the bank may determine to charge from
time to time and also so long as the principal or part thereof remains
unpaid. |
WEBSITE DETAILS:
Profile
- Aquapharm is
the largest manufacturer of Phosphonates in
- State of the art
DCS controlled plant at
- Clients
include leading multinationals in
- Distributor
network in
- Tie up with multinational
forwarding agencies to provide an Integrated Supply Chain Solution.
History
- Incorporated
in 1977 with the primary objective of manufacturing 'Desalting Kits' for
the Indian Armed Forces.
- Product range
expanded to include basic chemicals like Phosphonates, Biocides and Low
Molecular Weight Polymers in addition to Water Treatment chemicals and
services.
- Leading Water
Treatment service provider in
- Water
Treatment division sold in 1998 to Aquazur Limited,
- Focus changed
for manufacturing of Specialty Chemicals.
Infrastructure
Phosphonates Plant at Mahad
The new facility at Mahad is a 100 percent Export Oriented Unit.
This facility is backward integrated and is setup to produce Phosphorus trichloride and a wide range of phosphonates and their salts including powders.
This State of the art facility is fully automated and is run on the Delta V - DCS control system, thus ensuring consistent quality.
Located in an Industrial zone with common effluent treatment plant ensuring that any effluent that leaves the site is fully treated and meets the effluent control requirements of all local bodies.
The production capacity of phosphonates at Mahad makes it one of the largest plant of its type in the world.
This plant is located around 150 kms. from
Pirangut Plant
Aquapharm manufacturing facility is located at Pirangut, which is about 40 km. from Pune.
All the Plants have state of the art manufacturing facilities and also have ISO
9001:2000 and ISO 14000 accreditation.
The facilities include:
• Various capacities of glasslined and
stainless steel reactors.
• Graphite, PP, FRP absorbers.
• Graphite, glasslined and stainless steel
condensers.
• Dryers of various configurations.
• Automated process control instrumentation.
• Automated packaging systems.
• Generators for backup in case of power
failure.
• Effluent treatment plant to meet
environmental standards.
• The plant is located around 120 kms. from
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.73.25 |
|
Euro |
1 |
Rs.62.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
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 |
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 |
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.