MIRA
INFORM REPORT
|
Report Date : |
01.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHEMINOVA INDIA LIMITED (w.e.f.27.01.1998) |
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|
|
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Formerly Known
As : |
LUPIN
AGROCHEMICALS ( |
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Registered
Office : |
Keshava, 7th Floor, Bandra Kurla Complex, Bandra (East),
Mumbai – 400051, |
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Country : |
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Financials (as
on) : |
31.12.2010 |
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Date of
Incorporation : |
15.01.1986 |
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Com. Reg. No.: |
11-38627 |
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|
Capital
Investment / Paid-up Capital : |
Rs. 303.500 Millions |
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|
|
CIN No.: [Company Identification
No.] |
U24100MH1986PLC038627 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC11333A/ MUMC11823A |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACL1417E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Technical Grade
Pesticides, Intermediates and Pesticides Formulations of different Pack
Size. |
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|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 |
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Maximum Credit Limit : |
USD 6200000 |
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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
and a reputed 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
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Nelish B |
|
Designation : |
Account Department |
|
Date : |
30.09.2011 |
LOCATIONS
|
Registered Office : |
Keshava, 7th Floor, Bandra Kurla Complex, Bandra (East),
Mumbai – 400051, |
|
Tel. No.: |
91-22-26542209/ 2241/ 26590340/ 241/ 67045504 |
|
Fax No.: |
91-22-26542655/ 2627/ 67045488/ 67045487 |
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E-Mail : |
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Website : |
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Corporate Office : |
166, |
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Factory : |
Plot No. 242/P, GIDC Estate, Panoli – 394 116, |
DIRECTORS
AS ON 28.06.2011
|
Name : |
Mr. Pramod Narayan Karlekar |
|
Designation : |
Managing Director |
|
Address : |
403, Anantashram, Road No. 9,
Near Sandu Wadi, Chembur, Mumbai – 400071, |
|
Date of Birth/Age : |
23.07.1959 |
|
Date of Appointment : |
29.06.2009 |
|
DIN No.: |
01776461 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U24100PN2007PLC138999 |
Deepak
Novochem Technologies Limited |
Additional
director |
14-09-07 |
14-09-07 |
22-07-08 |
Active |
NO |
|
2 |
U24100MH1986PLC038627 |
Cheminova
India Limited |
Managing
director |
29-06-09 |
04-06-08 |
- |
Active |
NO |
|
3 |
U24211DL1970NPL005200 |
Crop
Care Federation Of India |
Director |
25-07-08 |
25-07-08 |
- |
Active |
NO |
|
Name : |
Mr. Ajit Laxman Inamdar |
|
Designation : |
Whole Time Director |
|
Address : |
502/503, Sun and Breeze Co-operative
Housing Society, Sahakar Path, Opposite Gokul Arcade, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1951 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
00895784 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1995PLC090555 |
Garware
Chemicals Limited |
Director |
28-09-06 |
27-09-06 |
30-08-07 |
Active |
NO |
|
2 |
U24100MH1986PLC038627 |
Cheminova
India Limited |
Whole-time
director |
05-04-10 |
25-11-08 |
- |
Active |
NO |
|
Name : |
Mr. Niels Morten Hjort |
|
Designation : |
Chairman |
|
Address : |
Odinsvej – 52, 7620- |
|
Date of Birth/Age : |
08.04.1963 |
|
Date of Appointment : |
10.10.2003 |
|
DIN No.: |
00051003 |
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|
|
|
Name : |
Mr. Kurt Pedersen Kaalund |
|
Designation : |
Director (Foreign) |
|
Address : |
Kaj Munksvej, 8, |
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Date of Birth/Age : |
21.12.1963 |
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Date of Appointment : |
20.02.2008 |
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DIN No.: |
01923594 |
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|
|
|
Name : |
Mr. Mehernosh Meherji Behramkamdin |
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Designation : |
Whole Time Director |
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Address : |
C-2, Ground Floor, Building –C, Godrej Baug, Off Nepean Sea Road,
Mumbai-400026, Maharashtra, India |
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Date of Birth/Age : |
03.05.1952 |
|
Date of Appointment : |
01.01.2010 |
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DIN No.: |
02893644 |
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|
Name : |
Mr. Jesper Barslund Jacobsen |
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Designation : |
Director |
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Address : |
Haretonften 30, Holstebro, Denmark |
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Date of Birth/Age : |
17.04.1973 |
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Date of Appointment : |
26.10.2010 |
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DIN No.: |
03303160 |
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|
Name : |
Mr. Mats Rune Peter Edh |
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Designation : |
Director |
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Address : |
Dorfstrasse 132, Kilchberg, 8802, Switzerland |
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Date of Birth/Age : |
09.08.1956 |
|
Date of Appointment : |
26.10.2010 |
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DIN No.: |
03304763 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh Sureshchandra Buch |
|
Designation : |
Company Secretary |
|
Address : |
B-105, Building No.2, Shila Bina Co-op HSG Society, |
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Date of Birth/Age : |
24.11.1965 |
|
Date of Appointment : |
04.04.1997 |
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PAN No.: |
AADPB1694A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.06.2011
|
Names of Shareholders |
No. of Shares |
|
Cheminova A/S, |
3034990 |
|
Anil V. Patil/ Cheminova A/S |
1 |
|
Radheshyam M. Rathi/ Cheminova
A/S |
1 |
|
Dennis Dias/ Cheminova A/S |
5 |
|
Alok Kanta Moitra/ Cheminova A/S |
1 |
|
Maruti R. Dharmadhikari/
Cheminova A/S |
1 |
|
Prashant V. Pradhan/ Cheminova
A/S |
1 |
|
|
|
|
Total |
3035000 |
AS ON 28.06.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Technical Grade
Pesticides, Intermediates and Pesticides Formulations of different Pack
Size. |
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Products : |
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PRODUCTION STATUS AS ON 31.12.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Agrochemical Technical / Intermediate |
Kgs. |
NA |
19301000 |
12264295 |
|
Agrochemical Formulation # |
Ltrs. Kgs. |
NA |
NA |
6277256 5255794 |
Notes:
** It is not possible to determine the
installed capacity for Agrochemical Formulations since it would vary according
to the product mix.
*** Actual Production
is after adjusting processing losses, breakages, shortages / excesses, etc.
# Actual
Production of Agrochemical Formulations includes 4,17,628 Ltrs and 49,59,181
Kgs (Previous year 1,48,840 Ltrs and 28,61,494 Kgs) produced by Loan Licensee
Units.
# # Actual
Production of Agrochemical Technical Intermediates includes production for
captive consumption 67,23,213 Kgs (Previous year - 72,19,195 Kgs).
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
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Bankers : |
·
The Hongkong and Shanghai Banking Corporation
Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai-400001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells |
|
Address : |
12, |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679025 |
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Ultimate Holding Company : |
·
Auriga Industries A/S, Denmark |
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Holding Company : |
·
Cheminova A/s Incorporated In Denmark |
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Fellow Subsidiaries : |
·
Cheminova Agro De Argentina S. A ·
Cheminova Brazil Limited ·
Cheminova Agro De Mexico S.A ·
Cheminova Taiwan Limited |
CAPITAL STRUCTURE
AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3515000 |
Equity Shares |
Rs.100/- each |
Rs. 351.500 Millions |
|
1880000 |
Non Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 188.000 Millions |
|
1500000 |
0% Non Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 150.000 Millions |
|
5000 |
Unclassified Shares |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
Total |
|
Rs. 690.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3035000 |
Equity Shares |
Rs.100/-
each |
Rs. 303.500
Millions |
|
|
|
|
|
Notes :
Of the above,
3,034,990 (P.Y. 3,034,990) Equity
Shares of Rs. 100 each are held by Cheminova A/S, Denmark, the holding company
and the remaining 10 Equity Shares of Rs. 100 each are held by the holding
company jointly with others.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
303.500 |
303.500 |
313.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1271.344 |
1220.657 |
1037.809 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1574.844 |
1524.157 |
1351.309 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
155.221 |
0.000 |
272.673 |
|
|
2] Unsecured Loans |
111.775 |
0.000 |
48.550 |
|
|
TOTAL BORROWING |
266.996 |
0.000 |
321.223 |
|
|
DEFERRED TAX LIABILITIES |
15.044 |
9.788 |
4.719 |
|
|
|
|
|
|
|
|
TOTAL |
1856.884 |
1533.945 |
1677.251 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
496.360 |
368.952 |
388.104 |
|
|
Capital work-in-progress |
57.415 |
88.394 |
19.095 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.802 |
5.594 |
5.594 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
957.441
|
609.335 |
684.167
|
|
|
Sundry Debtors |
1878.195
|
1265.738 |
1108.417
|
|
|
Cash & Bank Balances |
385.223
|
464.730 |
162.801
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
193.584
|
148.288 |
131.759
|
|
Total
Current Assets |
3414.443
|
2488.091 |
2087.144 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1806.224
|
1149.845 |
655.333 |
|
|
Other Current Liabilities |
162.969
|
108.871 |
84.142
|
|
|
Provisions |
147.943
|
158.370 |
83.211
|
|
Total
Current Liabilities |
2117.136
|
1417.086 |
822.686 |
|
|
Net Current Assets |
1297.307
|
1071.005 |
1264.458
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1856.884 |
1533.945 |
1677.251 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5128.708 |
4084.482 |
3402.983 |
|
|
|
Other Operating Income |
19.649 |
0.000 |
2.513 |
|
|
|
Other Income |
22.815 |
23.443 |
5.953 |
|
|
|
Provision no longer Required |
0.000 |
0.000 |
29.714 |
|
|
|
TOTAL (A) |
5171.172 |
4107.925 |
3441.163 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
4443.626 |
3576.788 |
2962.487 |
|
|
|
TOTAL (B) |
4443.626 |
3576.788 |
2962.487 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
727.546 |
531.137 |
478.676 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
31.093 |
30.433 |
28.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
696.453 |
500.704 |
450.426 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
71.802 |
78.462 |
84.345 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
624.651 |
422.242 |
366.081 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
220.055 |
161.178 |
140.421 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
404.596 |
261.064 |
225.660 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
844.476 |
691.208 |
478.710 |
|
|
|
|
|
|
|
|
|
Less |
Premium
on Buyback of Equity Shares |
0.000 |
7.200 |
8.162 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
40.460 |
19.580 |
0.000 |
|
|
|
Transfer to Capital Redemption Reserve |
0.000 |
10.000 |
5.000 |
|
|
|
Dividend Paid on Equity Shares |
303.500 |
0.000 |
0.000 |
|
|
|
Proposed Dividend on Equity Shares |
0.000 |
60.700 |
0.000 |
|
|
|
Dividend Distribution Tax on Equity Shares |
50.408 |
10.316 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
854.704 |
844.476 |
691.208 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
491.804 |
419.771 |
326.119 |
|
|
|
Research and Development Support Services |
4.060 |
2.078 |
2.432 |
|
|
|
Freight |
16.159 |
7.241 |
9.187 |
|
|
|
Reimbursement of Expenses |
4.060 |
5.467 |
5.122 |
|
|
TOTAL EARNINGS |
516.083 |
434.557 |
342.860 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
617.549 |
563.219 |
804.184 |
|
|
|
Stores & Spares |
0.876 |
0.000 |
0.251 |
|
|
|
Capital Goods |
7.328 |
3.431 |
2.767 |
|
|
TOTAL IMPORTS |
625.753 |
566.650 |
807.202 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
133.31 |
83.43 |
71.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
7.82
|
6.36 |
6.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.18
|
10.34 |
10.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.97
|
14.78 |
14.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.28 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.52
|
0.94 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
1.76 |
2.54 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
in Millions)
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
Sundry Creditors |
|
|
|
|
Micro and Small Enterprises |
0.000 |
0.000 |
6.110 |
|
Others |
1806.224 |
1149.845 |
649.223 |
|
Total |
1806.224 |
1149.845 |
655.333 |
PERFORMANCE:
They are pleased to
report consistent growth in last three years. The Company crossed a landmark
milestone of Rs. 5000 Million by achieving net turnover of Rs. 5129 Million
which was higher by 25.6% as against Rs. 4085 Million of the previous year ended 31-12-2009. Further the
Company recorded significant jump in profit before tax which stood at Rs. 625
Million as compared to Rs. 422 Million in year 2009.
In line with the
Cheminova group's global strategy in the area of product stewardship, the
Company phased out class 1 product viz. Monocrotophos Technical and its
derivative formulation. During the year the Company aggressively launched
various new molecules in pesticide range of products to achieve its growth
strategy. On technical products, higher productivity was achieved coupled with
improved production. As a result and in line with the growth in turnover the
Company achieved highest ever Gross Profit before Interest, Depreciation and
Tax (PBDIT) for the year at Rs. 727.6
Million against Rs. 531.100
Millions in the previous year 2009.
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24100MH1986PLC038627 |
|
Name of the
company |
CHEMINOVA INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Keshava, 7th Floor, Bandra- Kurla Complex, Bandra
(E), Mumbai- 400 051, |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Indusland Bank, Ground
Floor, Maker Chamber IV, Nariman Point, Mumbai – 400021, Email : vlaxman@vsnl.com |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Agreement for Hypothecation of Stocks, Book Debts and other Current Assets. |
|
Date of
instrument Creating the charge |
23.04.2009 |
|
Amount secured by
the charge |
Rs. 200.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 4.25%
below the prevailing Prime Lending Rate which is presently 16.75% p.a.
subject to minimum 12.50% p.a., plus interest tax as applicable from time to
time. Terms of
Repayment On Demand Margin The company shall
maintain such margin as may be specified by the Bank from time to time. Extent and
Operation of the charge Hypothecation of assets
as described under Item No. 14 as security for repayment of credit facilities
aggregating Rs.200.00 Millions (Comprising Cash Credit/WCDL Rs.200.000
Millions, Letter of Credit Rs.200.000 Millions, Guarantee Rs.50.000 Millions
and Suppliers' (purchase) Bill Discounting Limit of Rs.50.000 Millions [total
not to exceed to Rs.200.000 Millions]) together with all interest, costs,
charges, expenses and other monies due and payable under the said facilities
granted by the Bank to the Borrower. Others |
|
Short particulars
of the property charged |
Charge by way of
Hypothecation on all present and future current assets, book-debts, stock and
all other current assets of the Company including documents of title to
goods, receivables belonging to the Company, wherever lying stored and kept
whether in possession in India or throughout the world including all such
goods, other current assets as may be in course of shipments transit or
delivery on pari-passu basis with other participating banks. |
FIXED ASSETS:
- Building
- Plant and Machinery
- Furniture and Fittings
- Motor Vehicle
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. 48.93 |
|
|
1 |
Rs. 76.51 |
|
Euro |
1 |
Rs. 66.64 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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.