1. Summary Information
|
|
|
Country |
India |
|
Company Name |
HENKEL CAC
PRIVATE LIMITED |
Principal Name 1 |
Hans Jorg Thomas Auris |
|
Status |
Good |
Principal Name 2 |
Ewi Kooi Sam |
|
|
|
Registration # |
11-032433 |
|
Street Address |
906, 9th Floor, Embassy Centre, Nariman Point, Mumbai – 400021, Maharashtra |
||
|
Established Date |
20.03.1984 |
SIC Code |
-- |
|
Telephone# |
91-22-22855388 |
Business Style 1 |
Manufacturer of
Adhesives |
|
Fax # |
91-22-22873995 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Plastics |
|
|
# of employees |
Not Available |
Product Name 2 |
Modified Ployrethane Resin
Solution |
|
Paid up capital |
Rs.6,400,000/- |
Product Name 3 |
Modified Polyester
Resin Solution |
|
Shareholders |
Bodies corporate (100%) |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
No |
Business Period |
27 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
A (63) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
India |
Henkel
Adhesives Technologies India Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,206,174,000 |
Current Liabilities |
997,541,000 |
|
Inventories |
438,567,000 |
Long-term Liabilities |
2,700,903,000 |
|
Fixed Assets |
2,223,322,000 |
Other Liabilities |
2,453,000 |
|
Deferred Assets |
49,310,000 |
Total Liabilities |
3,700,897,000 |
|
Invest& other Assets |
94,684,000 |
Retained Earnings |
304,760,000 |
|
|
|
Net Worth |
311,160,000 |
|
Total Assets |
4,012,057,000 |
Total Liab. & Equity |
4,012,057,000 |
|
Total Assets (Previous Year) |
|
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales/ Total Income |
3,995,470,000 |
Net Profit |
86,764,000 |
|
Sales/ Total Income (Previous yr) |
3,345,810,000 |
Net Profit/
Loss (Prev.yr) |
(139,749,000) |
MIRA
INFORM REPORT
|
Report Date : |
08.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
HENKEL CAC PRIVATE LIMITED (w. e. f. 03.01.2006) |
|
|
|
|
Formerly Known
As : |
CONVERTER ADHESIVES AND CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
906, 9th Floor, Embassy Centre, Nariman Point, Mumbai –
400021, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
20.03.1984 |
|
|
|
|
Com. Reg. No.: |
11-032433 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1984PTC032433 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMC11050E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC5534A |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Adhesives based on Plastics, Modified Polyurethane Resin
Solution and Modified Polyester Resin Solution. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 1240000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company and a part of Henkel Germany.
Trade relations are reported as fair. Business is active. Payments are reported
to be regular 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
906, 9th Floor, Embassy Centre, Nariman Point, Mumbai –
400021, Maharashtra, India. |
|
Tel. No.: |
91-22-22855388 |
|
Fax No.: |
91-22-22873995 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
D – 73/2, D – 74/2 and D – 74/6, T. T. C. Industrial Area, Off Thane
Belapur Road, Turbhe Naka, Navi Mumbai – 400613, Maharashtra, India |
|
Tel. No.: |
91-22-27670987 |
|
Fax No.: |
91-22-27672496 |
|
E-Mail : |
DIRECTORS
As on 24.09.2010
|
Name : |
Hans Jorg Thomas Auris |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
J W Marriot Exc. Apartments 3305, 398 Nanjing Road, Shanghai (West) -
200003, China |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.03.1961 |
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|
Date of Appointment : |
19.06.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00398710 |
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|
Other Directorship :
|
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|
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|
Name : |
Mr. Anil Puthiyedath Krishna |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
6 Del House, 7th Central Avenue, Santacruz, Mumbai –
400054, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.07.1955 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
17.11.2008 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01091444 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ewe Kooi Sam |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
83, Paterson Road, # 18-01 Paterson Residence, Singapore – 238549 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.09.1951 |
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|
Date of Appointment : |
17.11.2008 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Ceasing : |
13.09.2011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02297665 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Chi Wai Benjamin Ho |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
No. 928, Zhangheng Road, Pudong, Shanghai, Pudong, China 560084 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.02.2010 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.02.2010 |
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|
Date of Ceasing : |
31.05.2011 |
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|
DIN No.: |
02439402 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2010
|
Names of Shareholders |
No. of Shares |
|
Henkel Adhesives and Technologies India Private Limited, India |
639999 |
|
Seth Naveen |
1 |
|
Total |
640000 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2010
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Adhesives based on Plastics, Modified Polyurethane
Resin Solution and Modified Polyester Resin Solution. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
**Installed
Capacity |
Actual
Production |
|
Laminating adhesives |
MT |
18655 |
14846 |
|
Hot melt and water based adhesives* |
MT |
19100 |
12638 |
Note :
* Actual production does not include 1580 MT
of finished goods which is relabeled by the company
** Installed capacity is as certified by the management
and has not been verified by auditors, as is a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Bank of Baroda, Nariman Point, Mumbai – 400021, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Lodha Extension, 1st Floor, Apollo Mills Compound, N M Joshi
Marg, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39836000 |
|
PAN.: |
AAIFB7357B |
|
|
|
|
Subsidiary Company : |
Polyinks Limited CIN No. U24220AP1985PLC023791 |
|
|
|
|
Holding Company : |
Henkel Adhesives Technologies India Private Limited CIN No. U28933PN1990PTC014390 |
|
|
|
|
Ultimate Holding Company : |
Henkel AG and Company KGaA |
|
|
|
|
Subsidiaries, Joint Venture and Associates of ultimate holding company
with whom transactions has taken place : |
·
Achsson Industries (Europe) Limited - Nclherlaads ·
Acheson Industries (Europs) [Ad. - Uk ·
Dongsung Nsc Koreas Limited ·
Henkel (China) Cornpany Limited ·
Henkel (China) Investment Company Limited ·
Henkel (Malaysia) dn Bhd ·
Henkel (Thailand ) Limited ·
Henkel Adhesive Technologies - Norden Ag ·
Henkel Adhesives Company Limited ·
Henkel Adhesives Company Limited - China ·
Henkel Ag
and Company Kgaa (Hong Kong Branch) ·
Henkel Australia Limited ·
Henket Belgium N. V. Be ·
Henkel Chembond Surface Technologies Limited ·
Henkel Chile Limitada ·
Henkel Industrial Adhesive Pakistan (Private)
Limited ·
Henkel Kenya Limited ·
Henkel Korea Limited ·
Henkel Loctite Adhesives Limited ·
Henkel Loctite Corporation ·
Henkel Limited a ·
Henkel New Zealand ·
Henkel Philippines Inc ·
Henkel Singapore Re Limited ·
Henkel Teroson India Limited ·
Inter National Starch And Chemical Company. Inc ·
Monsanto Europenv For hrational Adhesives
Corporation ·
National Starch and Chemical - Italy ·
National Starch and Chemical -Korea ·
National Starcli and Cheniical (M) SDN ·
OOO Rushenk ·
PT.Henkel Indonesia ·
Dongsung NSC Indonesia Limited ·
Dongsung Vietnam Company Limited ·
Henkel Adhesive Technologies Sdn Bhd ·
Henkel Adhesive Technologies Sdn Bhd - Malaysia ·
Henkel Adhesive Technology India Private Limited ·
Henkel Company. Kgaa (Germany) ·
Henkel Corporation (Usa) ·
Henkel India Limited ·
Henkel Italia S.P.A ·
Henkel of America ·
Henkel Taiwan Limited ·
Ici - Pakistan Limited - Nsc Business ·
National Starch and Chemical Limited - Vietnam ·
National Starch and Chemical ( Shanghai)
Limited ·
National Starch and Chemical (Shanghai) - Aoheson ·
National Starch and Chemical,
Ab - Sweden ·
National Starch and Chemical - France ·
National Starch and Chemical - Hong Kong ·
National Starch and Chemical - Indonesia ·
National Starch and Chemical -Malaysia ·
National Starch and Chemical - Netherlands ·
National Starch and Chemical - Singapore ·
National Starch and Chemical -Taiwan ·
National Starch and Chemical - Usa ·
National Starch and Chemical (Gunngdong) Limited ·
National Starch and Chemical (Saudi Arabia) ·
National Starch and Chemical -Australia ·
National Starch and Chemical- Thailand ·
National Starch China (Shanghai) ·
Pt Dongsung Nsc - lndonesia ·
Turk Henkel Kimya San. Ve. Tic A. S |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
640000 |
Equity Shares |
Rs.10/- each |
Rs.6.400 Millions |
|
|
|
|
|
Note:
1. Of the above
560,000 (Previous year : 560,000) equity shares of Rs.101- each were allotted as fully paid Bonus shares by
capitalisation of General Reserve
2. 639,999 shares are
held by the holding Company Henkel Adhesives Technologies Private Limited
(Previous year: 639,999 shares). 1 share
is held by Naveen Seth as a nominee of Henkel Adhesives Technologies Private
Limited (Previous year: 1 share). Henkel AG and Company. KGaA, Germany who owns
the entire equity share capital of Henkel Adhesives Technologies Private Limited, is the
ultimate holding Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.400 |
6.400 |
6.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
304.760 |
217.996 |
357.745 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
311.160 |
224.396 |
364.145 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2700.903 |
2896.508 |
167.756 |
|
|
TOTAL BORROWING |
2700.903 |
2896.508 |
167.756 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
14.031 |
|
|
|
|
|
|
|
|
TOTAL |
3012.063 |
3120.904 |
545.932 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2223.322 |
2162.916 |
228.555 |
|
|
Capital work-in-progress |
94.684 |
31.219 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
257.204 |
0.000 |
|
|
DEFERREX TAX ASSETS |
49.310 |
39.710 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
438.567
|
375.448
|
202.120
|
|
|
Sundry Debtors |
839.799
|
764.021
|
438.498
|
|
|
Cash & Bank Balances |
163.049
|
1.386
|
0.743
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
203.326
|
268.124
|
24.036
|
|
Total
Current Assets |
1644.741
|
1408.979
|
665.397
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
810.059 |
579.587
|
315.679
|
|
|
Current Liabilities |
187.482
|
194.487
|
18.474
|
|
|
Provisions |
2.453
|
5.050
|
13.867
|
|
Total
Current Liabilities |
999.994
|
779.124
|
345.531
|
|
|
Net Current Assets |
644.747
|
629.855
|
317.377
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3012.063 |
3120.904 |
545.932 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1513.187 |
|
|
|
Other Income |
|
|
20.016 |
|
|
|
TOTAL |
3995.470 |
3345.810 |
1533.203 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in Stock |
|
|
(3.023) |
|
|
|
Material Cost |
3791.886 |
3530.717 |
1113.429 |
|
|
|
Other Expenses |
|
|
291.648 |
|
|
|
TOTAL |
3791.886 |
3530.717 |
1402.054 |
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION |
203.584 |
(184.907) |
131.149 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.080 |
5.949 |
13.725 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX |
201.504 |
(190.856) |
117.424 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
114.740 |
(330.605) |
41.711 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX |
86.764 |
(139.749) |
75.713 |
|
|
|
|
|
|
|
|
|
Less |
SHORT PROVISION
FOR TAXATION OF EARLIER YEAR |
0.000 |
0.000 |
0.021 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
140.051 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
3.000 |
|
|
BALANCE CARRIED
TO THE B/S |
86.764 |
(139.749) |
212.743 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at FOB value |
600.478 |
495.664 |
348.578 |
|
|
|
Commission and Rebate |
2.994 |
4.554 |
0.163 |
|
|
TOTAL EARNINGS |
603.472 |
500.218 |
348.741 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1079.406 |
1171.972 |
607.430 |
|
|
|
Trading Goods |
260.723 |
198.040 |
35.718 |
|
|
|
Capital Goods |
8.600 |
3.479 |
0.000 |
|
|
TOTAL IMPORTS |
1348.729 |
1373.491 |
643.148 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
135.57 |
(218.36) |
113.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.17
|
4.18 |
4.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
7.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.21
|
(5.34) |
13.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.64
|
(0.85) |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.89
|
16.38 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.81 |
1.93 |
LOCAL AGENCY FURTHER INFORMATION
Background and activities
Henkel CAC Private
Limited ('the Company') was incorporated on 20 March 1984. The Company is in
the business of manufacture and sale of adhesives.
In the previous
year 153,600 equity shares of Rs.10
each were purchased by Henkel Adhesive Technology Private Limited, a subsidiary
of Henkel AG and Company KGaA, Germany as a result of which the Company has
become the wholly owned subsidiary of Henkel Adhesives Technologies Private
Limited with Henkel AG and Company KGaA,
Germany being the ultimate holding company. Further during the year the
Company has acquired Polyinks Limited. A wholly owed subsidiary by way of
merger scheme approved by Honourable Bombay High Court.
Acquisition of Polyinks Limited
Amalgamation of Company's wholly owned suhsidiary. Polyinks Limited. with the Company : The
Scheme of Amalgamation ('the Scheme') of erstwhile Polyinks Limited ("the
Amalgamated Company") with the Company was sanctioned by the Hon'ble High
Courts of judicature at Bombay and Hyderabad on 26 March 2010 and 30 March 2010
respectively. The Company has fled the certified copy of the Orders with the
Registrar of Companies on 14 May 2010.
The Amalgamated
Company was incorporated as Polyinks Private
Limited on 15 April 1985, for carrying on the business of adhesives. The
name of the amalgamated company was changed
to Polyinks PM Limited vide certificate of incorporation dated 2 February 2007.
In accordance with
the scheme all the assets and liabilities of the Amalgamated Company were
transferred to and vested in the Company with effect from 1 April 2009 ('The Appointed Date') and
recorded by the Company at their fair value. The Scheme has accordingly been
given effect to in these financial statements which include the assets and
liabilities of the Amalgamated Company with effect from 1 April 2009 and the
results of operations for the year ended 31 March 2010. In
terms of the Scheme, the fair value of assets and liabilities are required to
be adopted as at I April 2009. The
fair value of assets and liabilities of the Amalgamated Company has been
determined by independent valuer.
MERGER OF
COMPANY’S WHOLLY OWNED SUBSIDIARY, POLYINKS LIMITED WITH THE COMPANY
We are pleased to
inform you that The Scheme of Amalgamation ('the Scheme') of erstwhile Polyinks
Ltd ("the Merged Company") (formerly known as Polyinks Private
Limited) with the Company was sanctioned by the Hon'ble High Courts of
judicature at Bombay and Hyderabad on 26 March 2010 and 30 March 2010
respectively. The Company has filed the certified copies of the Order by the
Hon'ble High Court of judicature at Bombay and Hyderabad with the Registrar of
Companies on 14 May 2010.
In accordance with
the scheme all the assets and liabilities of the Merged Company were
transferred to and vested in the Company with effect from 'l April 2009 ('The
Appointed Date') and recorded by the Company at their fair value. The Scheme
has accordingly been given effect to in these financial statements which
include the assets and liabilities of the Merged Company with effect from 1
April 2009 and the results of operations for the year ended 31 March 2010.
CONTINGENT
LIABILITIES NOT PROVIDED FOR
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
|
Contract Labour matter pending before the Industrial Tribunal,
Maharashtra, Thane |
4.240 |
4.121 |
|
Appeal against the Sales Tax Assessment orders, pending before the
Sales Tax |
2.943 |
0.552 |
|
Claim from ICI India Limited on account of net working capital
adjustment for adhesive business acquisition |
0.000 |
51.722 |
|
Total |
7.183 |
56.395 |
FIXED ASSETS
·
Goodwill
·
Patents and trademarks
·
Customer base
·
Computer Software
·
Technical know how
·
Free hold Land
·
Lease hold Land
·
Buildings
·
Plant and Machinery
·
Computers
·
Furniture and Fittings
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.49.08 |
|
|
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--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 |
|
63 |
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.