Business
information report
1. Summary Information
|
|
|
Country |
INDIA |
|
Company Name |
MITRA AUXILLARY CHEMICALS PRIVATE LIMITED |
Principal Name 1 |
PRADEEP CHANDRAKANT MEHTA |
|
Status |
MODERATE |
Principal Name 2 |
NANDA PRADEEP MEHTA |
|
|
|
Registration # |
25-14280 |
|
Street Address |
D-13/3, MIDC, LOTE-PARSHURAM INDUSTRIAL ESTATE, TALUKA KHED, DISTRICT
RATNAGIRI – 415 722, MAHARASHTRA |
||
|
Established Date |
20.12.1999 |
SIC Code |
-- |
|
Telephone# |
91-2356-273119 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
NOT AVAILABLE |
Business Style 2 |
- |
|
Homepage |
-- |
Product Name 1 |
CHEMICALS |
|
# of employees |
NOT AVAILABLE |
Product Name 2 |
- |
|
Paid up capital |
RS.1,645,800/- |
Product Name 3 |
- |
|
Shareholders |
DIRECTORS OR
RELATIVES OF DIRECTORS-100% |
Banking |
THE SANGLI BANK
LIMITED |
|
Public Limited Corp. |
NO |
Business Period |
12 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B
(28) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
- |
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
6,670,000 |
Current Liabilities |
7,897,000 |
|
Inventories |
851,000 |
Long-term Liabilities |
1,994,000 |
|
Fixed Assets |
6,041,000 |
Other Liabilities |
322,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
10,213,000 |
|
Invest& other Assets |
28,000 |
Retained Earnings |
2,543,000 |
|
|
|
Net Worth |
3,377,000 |
|
Total Assets |
13,590,000 |
Total Liab. & Equity |
13,590,000 |
|
Total Assets (Previous Year) |
8,068,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Income |
12,721,000 |
Net Profit |
470,000 |
|
Income (Previous yr) |
4,197,000 |
Net Profit(Prev.yr) |
131,000 |
MIRA
INFORM REPORT
|
Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
MITRA AUXILLARY CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-13/3, MIDC, Lote-Parshuram Industrial Estate, Taluka Khed, District Ratnagiri
– 415 722, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
20.12.1999 |
|
|
|
|
Com. Reg. No.: |
25-14280 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.646 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119PN1999PTC014280 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM1612E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM3693A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 14000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, Trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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) |
|
|
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/ Factory : |
D-13/3, MIDC, Lote-Parshuram Industrial Estate, Taluka Khed, District
Ratnagiri – 415 722, Maharashtra, India |
|
Tel. No.: |
91-2356-273119 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Mumbai Office : |
B-Type-5, 1:5, Sector-1, Vashi, Navi Mumbai – 400 703, Maharashtra,
India |
|
Tel. No.: |
91-22-65093858/ 27824027 |
|
Fax No.: |
91-22-27824027 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Pradeep Chandrakant Mehta |
|
Designation : |
Director |
|
Address : |
B/18, Sector 4, Nerul, Mumbai – 400 706, Maharashtra, India |
|
Date of Birth/ Age : |
17.05.1958 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
00324152 |
|
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 |
U24100MH2000PTC126913 |
Nandadeep
Chemicals Private Limited |
Director |
1/6/2000 |
1/6/2000 |
- |
Active |
NO |
|
2 |
U24119MH1994PTC078332 |
Snehalata
Chemicals Private Limited |
Director |
18/01/2001 |
18/01/2001 |
- |
Active |
NO |
|
3 |
U24232MH2007PTC170643 |
Samarth
Alkalis and Chemicals Private Limited |
Director |
7/5/2007 |
7/5/2007 |
- |
Strike
off |
NO |
|
4 |
U24100MH2007PTC171454 |
Tantra-Chem
India Private Limited |
Director |
8/6/2007 |
8/6/2007 |
- |
Active |
NO |
|
5 |
U24119PN1999PTC014280 |
Mitra
Auxillary Chemicals Private Limited |
Director |
30/09/2008 |
1/8/2008 |
- |
Active |
NO |
|
|
|
|
Name : |
Nanda Pradeep Mehta |
|
Designation : |
Director |
|
Address : |
B-18/01, Shivpalm Beach CHSL, Sector 4, Nerul, Navi Mumbai – 400 706,
Maharashtra, India |
|
Date of Birth/ Age : |
11.02.1962 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
01273335 |
|
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 |
U24100MH2000PTC126913 |
Nandadeep
Chemicals Private Limited |
Director |
1/6/2000 |
1/6/2000 |
- |
Active |
NO |
|
2 |
U24119PN1999PTC014280 |
Mitra
Auxillary Chemicals Private Limited |
Director |
30/09/2008 |
1/8/2008 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Milind Shivram Bapat |
|
Designation : |
Director |
|
Address : |
Flat No 12, Vyenkatesh Apartment, Chiplun, Ratnagiri – 415 605,
Maharashtra, India |
|
Date of Birth/ Age : |
03.06.1968 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
00322644 |
|
|
|
|
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 |
U24119MH1994PTC078332 |
Snehalata
Chemicals Private Limited |
Director |
18/01/2001 |
18/01/2001 |
- |
Active |
NO |
|
2 |
U24100MH2000PTC126913 |
Nandadeep
Chemicals Private Limited |
Director |
29/09/2007 |
1/4/2006 |
- |
Active |
NO |
|
3 |
U24232MH2007PTC170643 |
Samarth
Alkalis and Chemicals Private Limited |
Director |
7/5/2007 |
7/5/2007 |
- |
Strike
off |
NO |
|
4 |
U24100MH2007PTC171454 |
Tantra-Chem
India Private Limited |
Director |
8/6/2007 |
8/6/2007 |
- |
Active |
NO |
|
5 |
U24119PN1999PTC014280 |
Mitra
Auxillary Chemicals Private Limited |
Director |
30/09/2008 |
1/8/2008 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Pradeep Chandrakant Mehta |
8638 |
|
Nanda Pradeep Mehta |
7820 |
|
Total |
16458 |
EQUITY SHARE BREAKUP
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Chemicals. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
·
The Sangli Bank Limited, Ratnagiri Branch,
Ratnagiri, Maharashtra, India ·
Abhyudaya Co-Operative Bank Limited, Administrative Office, K. K.
Tower, Abhyudaya Bank, Lane, Off G.D. Ambekar Marg, Parel Village,
Mumbai-40012, Maharashtra, India ·
Bank of Maharashtra ·
Bank of India ·
HDFC Bank Limited |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
U.D. Kachare and Company Chartered Accountants |
|
Address : |
C-6, Saraswati Apartments, Laxmi Nagar, Carter Road No.3, Borivali
(East), Mumbai – 400 066, Maharashtra, India |
|
PAN. No.: |
AAHPK2745B |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16458 |
Equity Shares |
Rs.100/-
each |
Rs.1.646
Millions |
|
|
|
|
|
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 |
1.646 |
1.646 |
1.010 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1.160 |
|
|
3] Reserves & Surplus |
2.543 |
2.543 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.812) |
(1.282) |
(1.413) |
|
|
NETWORTH |
3.377 |
2.907 |
0.757 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1.994 |
1.174 |
2.387 |
|
|
TOTAL BORROWING |
1.994 |
1.174 |
2.387 |
|
|
DEFERRED TAX LIABILITIES |
0.222 |
0.143 |
0.317 |
|
|
|
|
|
|
|
|
TOTAL |
5.593 |
4.224 |
3.461 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.041 |
5.140 |
3.440 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.851
|
0.058 |
0.117 |
|
|
Sundry Debtors |
4.887
|
2.105 |
0.487 |
|
|
Cash & Bank Balances |
0.028
|
0.022 |
0.101 |
|
|
Other Current Assets |
0.085
|
0.085 |
0.085 |
|
|
Loans & Advances |
1.670
|
0.627 |
0.090 |
|
Total
Current Assets |
7.521
|
2.897 |
0.880 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.840
|
3.365 |
0.608 |
|
|
Other Current Liabilities |
1.057
|
0.479 |
0.285 |
|
|
Provisions |
0.100
|
0.000 |
0.000 |
|
Total
Current Liabilities |
7.997
|
3.844 |
0.893 |
|
|
Net Current Assets |
(0.476)
|
(0.947) |
(0.013) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.028 |
0.031 |
0.034 |
|
|
|
|
|
|
|
|
TOTAL |
5.593 |
4.224 |
3.461 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
INCOME |
12.721 |
4.197 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.470 |
0.131 |
0.041 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
CARRIED TO THE B/S |
(0.812) |
(1.282) |
1.413 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.50 |
7.96 |
40.59 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.02
|
1.77 |
4.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94
|
0.75 |
0.98 |
LOCAL AGENCY FURTHER INFORMATION
Note: Registered office of the company has been
shifted from 3112, Tilak Lane, Ratnagiri – 415 612, Maharashtra, India to
present address w. e. f. 01.08.2008.
OPERATIONS:
The board twofold rise in the business income. Due to increase in the
profits accumulated loss of the earlier years has been wiped out to a great
extent.
The company has purchased a new plot No. D-13/10, at Lote Parshuram
Industrial Area, at Khed, in Ratnagiri district with the intention of further
expansion of the activities of the company.
FORM 8
|
Corporate
identity number of the company |
U24119PN1999PTC014280 |
|
Name of the
company |
MITRA AUXILLARY CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-13/3, MIDC, Lote-Parshuram Industrial Estate, Taluka Khed, District
Ratnagiri - 415 722, Maharashtra, India E-Mail: msncs@vsnl.net |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Co-operative Bank Abhsydaya
Co-Operative Bank Limited, Administrative Office, K. K. Tower, Abhyudaya Bank,
Lane, Off G.D. Ambekar Marg, Parel Village, Mumbai – 400 012, Maharashtra,
India Email: loans@abhyudayabank.net |
|
Nature of
instrument creating charge |
No instruments was
executed. However, equitable mortgage has been created by deposit of title
deeds, over the immovable property. |
|
Date of
instrument Creating the charge |
15.04.2011 |
|
Amount secured by
the charge |
Rs.22.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest As may be decided, from time to time, by the Bank. Terms of repayment Nil Margin As may be decided, from time to time, by the Bank. Extent and operation of the charge To secure the due repayment of following credit facilities aggregating Rs.22.000 Millions, together with interest, interest tax, further interest, additional interest, penal interest, commission fees, cost charges and expenses thereon, granted by the Bank to the Company. 1) Term Loan of Rs.12.000 Millions 2) Cash Credit facility of Rs.5.000 Millions 3) Letter of Credit of Rs.5.000 Millions Other Nil |
|
Short particulars
of the property charged (Including location of the property) |
1)
Factory
Land and building with G+3 structure, on Plot No.D-13/3, adm 1800 sq.mtrs.at
Lote Parshuram Industrial Estate, MIDC, Khed, Ratnagiri Maharashtra with
fixture and fitting, plant and machinery thereon 2) Factory Land and building Plot No.D-13/10, adm 1500 sq. mtrs, at Lote Parshuram Industrial Estate, MIDC, Khed, Ratnagiri Maharashtra, along with fixture and fitting, plant and machinery thereon. |
FIXED ASSETS:
·
Factory Land
·
Factory Building
·
Plant and Machinery
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Lab Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.