MIRA
INFORM REPORT
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Report Date : |
03.03.2011 |
IDENTIFICATION DETAILS
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Name : |
L D CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
417/D, Defence Colony, Jajmau, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.08.1994 |
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Com. Reg. No.: |
20-016787 |
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CIN No.: [Company Identification
No.] |
U34115UP1994PTC016787 |
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TIN No.: |
09545200427 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Supplier of Chemicals, Leather Chemicals, Leather Finishing Chemical |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 37700 |
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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. 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
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Registered Office : |
417/D, Defence Colony, Jajmau, |
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Tel. No.: |
91-512-2451570 |
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Fax No.: |
91-512-2451673 |
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Mobile No. : |
91-9839809403 (Mr. Arnab Das) |
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E-Mail : |
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Sales Office : |
458-A, Block D, Defence Colony, Jajmau, |
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Email : |
DIRECTORS
As on 29.09.2010
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Name : |
Mrs. Lilly Das |
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Designation : |
Director |
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Address : |
77-A-Block D, Shyanm Nagar, |
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Date of Appointment : |
10.08.1994 |
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Din : |
00259191 |
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Name : |
Mr. Arnab Das |
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Designation : |
Director |
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Address : |
77-A-Block D, Shyanm Nagar, |
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Date of Appointment : |
27.12.2008 |
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Din : |
00259227 |
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Name : |
Mr. Achintya Kumar Das |
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Designation : |
Managing Director |
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Address : |
77-A-Block D, Shyanm Nagar, |
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Date of Appointment : |
10.08.1994 |
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Din : |
01335868 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
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No. of Shares |
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A. K. Das |
|
3680 |
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Lilly Das |
|
4190 |
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Dr. G Dutta |
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550 |
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Shri P. Sarkar |
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180 |
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Shri P. K. Das |
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190 |
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Smt. Shanaj Jahan |
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50 |
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Bhupendra Nath Das |
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130 |
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Smt. Dolly Guha |
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190 |
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Mr. J. K. Das |
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170 |
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Mr. Jyoti Das |
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100 |
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Mr. B.K.Das |
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170 |
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Mr. Prasanjit Sarkar |
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180 |
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Smt. Uma Rani Das |
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100 |
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St. Barsa Sarkar |
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100 |
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Mr. Tapan Dasgupta |
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100 |
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Mr. Sanjay Kr. Sharma |
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70 |
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Total |
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10150 |
As on 29.09.2010
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Category |
Percentage |
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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 : |
Supplier of Chemicals, Leather Chemicals, Leather Finishing Chemical |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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(Rs.in million) |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D.C. Shukla and Company Chartered Accountant |
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Address : |
24/56, |
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Tel. No.: |
91-512-2373015 |
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PAN No.: |
ANQPS2838F |
CAPITAL STRUCTURE
As on 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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20,000 |
Equity Shares |
Rs.100/-each |
Rs.2.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,150 |
Equity Shares |
Rs.100/-each |
Rs.1.015 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
1.015 |
1.015 |
1.015 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
8.420 |
7.896 |
7.504 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.435 |
8.911 |
8.519 |
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LOAN FUNDS |
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1] Secured Loans |
4.232 |
2.923 |
8.325 |
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2] Unsecured Loans |
6.689 |
8.327 |
3.844 |
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TOTAL BORROWING |
10.921 |
11.250 |
12.169 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
20.356 |
20.161 |
20.688 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.742 |
0.535 |
0.626 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
7.315
|
7.608 |
8.684 |
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Sundry Debtors |
21.374
|
16.091 |
19.539 |
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Cash & Bank Balances |
0.532
|
0.315 |
0.252 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
2.305
|
2.351 |
1.956 |
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Total
Current Assets |
31.526
|
26.365 |
30.431 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
11.533
|
6.229 |
10.206 |
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Other Current Liabilities |
0.033
|
0.115 |
0.103 |
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Provisions |
0.346
|
0.395 |
0.060 |
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Total
Current Liabilities |
11.912
|
6.739 |
10.369 |
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Net Current Assets |
19.614
|
19.626 |
20.062 |
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|
0.000 |
0.000 |
0.000 |
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MISCELLANEOUS EXPENSES |
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TOTAL |
20.356 |
20.161 |
20.688 |
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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 |
47.876 |
41.159 |
30.237 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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Financial Expenses |
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TOTAL |
46.864 |
40.459 |
29.264 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1.012 |
0.700 |
0.973 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.145 |
0.101 |
0.128 |
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PROFIT BEFORE
TAX (E-F) |
0.867 |
0.599 |
0.845 |
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Less |
TAX |
0.271 |
0.207 |
0.281 |
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PROFIT AFTER TAX
(G-I) |
0.596 |
0.392 |
0.564 |
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IMPORTS |
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Raw Materials |
1.136 |
0.000 |
0.000 |
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TOTAL IMPORTS |
1.136 |
0.000 |
0.000 |
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Earnings Per
Share (Rs.) |
58.73 |
38.62 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.24
|
0.95 |
1.87 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.69
|
2.23 |
2.72 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.07 |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.42
|
2.02 |
2.65 |
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Current Ratio (Current Asset/Current Liability) |
|
2.65
|
3.91 |
2.93 |
LOCAL AGENCY FURTHER INFORMATION
Financial Results
:
During the year, the total income of the company has increased as compared
to previous year and the company has earned net profit of Rs.0.596 million
during the current financial year as compare to previous year net profit of
Rs.0.392 million. The directors are trying to further improve the performance
of the company and hope for better in the next financial year.
FIXED ASSETS:
- Air Conditioner
- Car
- Cooler
- Fan
- Fax Machine
- Fridge
- Furniture and Fixture
- Generator Set
- Inverter
- Leather Craft Tools
- Machinery
- Mobile Phone
- Motor Cycle
- Sewing Machine
- Xerox machine
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U34115UP1994PTC016787 |
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Name of the
company |
L. D. Chemicals
Private Limited |
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Address of the registered
office or of the principal place of
business in |
417-Ddefence
Colony Jajmau, |
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Type of charge |
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Particular of
charge holder |
State Bank of Email – jkscoknp@gmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of Loan
cum Hypothecation Letter of
Arrangement |
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Date of
instrument Creating the charge |
30.03.2009 |
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Amount secured by
the charge |
Rs.4.000 million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Interest to be charged @ 2.00% above State Bank Advance Rate . Present
effective rate is 14.25% per annum with monthly rests or at such other
rate(s) as may be notified by the Bank to the Borrower from time to time. Terms of
Repayment - Working Capital - Repayable on demand. Margin - 25% on
Raw materials-Indigenous 25% on Semi
Finished Goods 25% on Finished
Goods 60% on Domestic
Receivables Extent and
Operation of the charge - The Company's properties as mentioned hereunder are
hypothecated to secure Cash Credit (Book Debts) limit of Rs.4.000 million
Coupled with Cash Credit (Stocks) limit of Rs.1.000 million granted by the
Bank to the Borrower. |
|
Short particulars
of the property charged |
Hypothecation of
all present and future stocks, raw materials, goods, book debts and vehicles
and all other movables assets of the Borrower including receivables,
documents of title to goods, outstanding monies, bills, invoices, documents,
contracts, insurance policies, guarantee, securities, engagement, investments
and rights and all present and future machinery belonging to or in the
possession or control of the Borrower wherever lying, stored, kept or in
transit. |
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.45.12 |
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|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--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.