MIRA
INFORM REPORT
|
Report Date : |
21.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
UMICORE ANANDEYA INDIA PRIVATE LIMITED (w.e.f.
18.02.2009) |
|
|
|
|
Formerly Known
As : |
ANANDEYA ZINC OXIDES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot 23-26, Phase III A, Goa IDC Industrial
Area, Sancoale, Zuarinagar-403726, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
13.09.2005 |
|
|
|
|
Com. Reg. No.: |
24-006214 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 214.952 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24130GA2005PTC006214 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA3835M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Plot 23-26, Phase III A, Goa IDC Industrial
Area, Sancoale, Zuarinagar-403726, |
|
Tel. No.: |
91-832-6723999 |
|
Fax No.: |
91-832-2555521 |
|
E-Mail : |
DIRECTORS
As on 29.09.2011
|
Name : |
Kapil Dinanath Bhargava |
|
Designation : |
Director |
|
Address : |
Flat No. 22, Lotus Court, 169, Jamshedji Tata Road, Churchgate, Mumbai –
400 020, Maharashtra, India |
|
Date of Birth/Age : |
08.12.1962 |
|
Date of Appointment : |
12.08.2008 |
|
DIN No.: |
00944948 |
|
|
|
|
Name : |
Marc Lucien E Desirant |
|
Designation : |
Director |
|
Address : |
Rue Les Oies, 79, Chaudfontaine
4052, |
|
Date of Birth/Age : |
24.07.1951 |
|
Date of Appointment : |
12.08.2008 |
|
DIN No.: |
02288779 |
|
|
|
|
Name : |
Mr. Guy Willy J Beke |
|
Designation : |
Director |
|
Address : |
Vurgatstraat 12, Overijse
3090, |
|
Date of Birth/Age : |
18.12.1955 |
|
Date of Appointment : |
12.08.2008 |
|
DIN No.: |
02297738 |
|
|
|
|
Name : |
Daniel E.A. Kennis |
|
Designation : |
Director |
|
Address : |
Justicieplein 9 Bus 9, Dendermonde 9200, |
|
Date of Birth/Age : |
28.03.1957 |
|
Date of Appointment : |
12.08.2008 |
|
DIN No.: |
02298329 |
|
|
|
|
Name : |
Mr. Ravindranath Kasargod
Pattanshetty |
|
Designation : |
Additional Director |
|
Address : |
302, Aishwarya Bliss Apartments, 7th
Cross, |
|
Date of Birth/Age : |
04.10.1970 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
03471111 |
MAJOR SHAREHOLDERS
As on 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
|
500 |
|
Umicore Finance |
21494700 |
|
Total |
21495200 |
Equity Share Break up (Percentage of Total Equity)
|
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 : |
Manufacturer and Exporter of Chemicals. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Dena Bank, Industrial Finance Branch, 9th Floor Maker Tower
E, Cuffe parade, Mumbai – 400005, Maharashtra, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelocks and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg,
|
|
PAN No.: |
AAEP5579P |
|
|
|
|
Ultimate Holding Company : |
Umicore S A , |
|
|
|
|
Holding Company : |
Umicore Finance |
|
|
|
|
Fellow Subsidiaries : |
·
Umicore Marketing
Service – ·
Umicore ·
Unicore India Private
Limited, ·
Umicore Australia
Limited, ·
Umicore Nederalnd, Nedherlands ·
Umicore Zinc Chemicals,
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
Rs. 10/- each |
Rs. 220.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21495200 |
Equity Shares |
Rs. 10/-
each |
Rs. 214.952
millions |
|
|
|
|
|
Of the above:
50000 shares are allotted as fully paid up to the
partners of erstwhile firm M/s Anandeya, without
payments being received in cash.
150000 shares are allotted by converting
unsecured loans into Equity Shares.
21494700 shares are held by
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
214.952 |
214.952 |
214.952 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
242.648 |
242.648 |
242.648 |
|
|
4] (Accumulated Losses) |
(128.545) |
(122.523) |
(143.746) |
|
|
NETWORTH |
329.055 |
335.077 |
313.854 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
13.987 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
13.987 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
3.917 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
329.055 |
338.994 |
327.841 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
63.140 |
62.123 |
34.678 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
7.983 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
80.239
|
86.609
|
58.016 |
|
|
Sundry Debtors |
143.322
|
68.243
|
0.000 |
|
|
Cash & Bank Balances |
66.808
|
121.512
|
228.114 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.056
|
5.390
|
3.795 |
|
Total
Current Assets |
298.425
|
281.754 |
289.925 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.200
|
3.479
|
3.229 |
|
|
Other Current Liabilities |
1.198
|
0.654
|
0.416 |
|
|
Provisions |
1.112
|
0.750
|
1.100 |
|
Total
Current Liabilities |
32.510
|
4.883 |
4.745 |
|
|
Net Current Assets |
265.915
|
276.871 |
285.180 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
329.055 |
338.994 |
327.841 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Other Income |
465.609 |
193.863 |
85.387 |
|
|
|
TOTAL |
465.609 |
193.863 |
85.387 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
Financial Charges |
475.547 |
168.740 |
203.980 |
|
|
|
TOTAL |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(9.938) |
25.123 |
(118.593) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.917 |
3.901 |
0.351 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
(6.021) |
21.223 |
(118.944) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(122.524) |
(143.747) |
(24.803) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(128.545) |
(122.524) |
(143.747) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
348.426 |
122.955 |
69.725 |
|
|
|
Freight and Insurance |
0.000 |
2.219 |
2.577 |
|
|
TOTAL EARNINGS |
348.426 |
125.174 |
72.302 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1.237 |
46.458 |
106.977 |
|
|
|
Stores & Spares |
0.000 |
0.000 |
1.428 |
|
|
TOTAL IMPORTS |
1.237 |
46.458 |
108.405 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.28) |
0.99 |
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(1.29)
|
10.94
|
(139.29) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.13)
|
12.95
|
(138.88) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.74)
|
7.30
|
(36.53) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03)
|
0.07
|
(0.37) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.09
|
0.02
|
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.17
|
57.70
|
61.10 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter’s background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
Registered office of the company has been shifted from 58/59, Bajaj Bhavan, Nariman
Point, Mumbai – 400 021,
CONTINGENT
LIABILITY:
(Rs. in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2011 |
|
Counter guarantees outstanding in respect of guarantees given by Banks
on behalf of the company |
1.903 |
1.388 |
1.388 |
|
Bills discounted withBank |
0.000 |
0.000 |
11.087 |
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10001814 |
|
Corporate identity
number of the company |
U24130MH2005PTC156001 |
|
Name of the
company |
ANANDEYA ZINC
OXIDES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Dena bank Industrial
Finance Branch, 9th floor, Maker Tower E Cuffe
Parade, Mumbai – 400005, e-mail: ifbmumbai@denabank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
entry for extension of existing mortgage. |
|
Date of
instrument Creating the charge |
08.11.2006 |
|
Amount secured by
the charge |
Rs. 71.000 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
stipulated by Bank from time to time. Terms of Repayment On Demand Margin As may be stipulated
by Bank from time to time. Extent and Operation of the charge The Company
accorded and gave oral consent to Bank to continue to hold and retain the
title deeds (by way of Constructive delivery) in respect of its immovable
properties as security not only for the existing credit facilities of Rs. 51.000 millions but also to secure the due repayment
of further increase in diverse credit facilities to the extent of Rs. 71.000 millions together with interest, costs,
charges, expenses and other monies due and payable there under. |
|
Short particulars
of the property charged |
All the Plot of
Land No. (2) 23 to 26, and 33 to 36 admeasuring 11500 Square Metres in the property known as “ Sancoale
Industrial Estate” bearing Survey No.185 and 189 of Sancoale
Village neither registered in the Land Registration office nor registered in
the Taluka Revenue Office of and situated within
the Village Panchayat Limits of Sancoale
Taluka, Murmagao, South Goa |
|
Date of latest
modification prior to the present modification |
31.10.2006 |
|
Particulars of
the present modification |
The Mortgage
charge now stands to secured at Rs. 71.000 millions |
FIXED ASSETS:
·
Computer Software
·
·
·
·
Plant and Machinery
·
Furniture and Fittings
·
Vehicles
·
Computer Hardware
·
Office Equipment
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.55.70 |
|
|
1 |
Rs.87.54 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.