MIRA INFORM REPORT
|
Report Date : |
30.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
AMPACET SPECIALITY PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-276, D-277 and D-283, Ranjangaon Industrial Area, Karegaon, Shirur, Pune
– 412220, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.03.2010 |
|
|
|
|
Com. Reg. No.: |
11-200706 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.139.291 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH2010FTC200706 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA36916F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICA2806P |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Plastic Colours, Master Batches, Colour
Concentrates and Additive Concentrates, Chemicals, Pigments, Natural and
Synthetic Resins, Moulding Powder. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 720000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Ampacet Cyprus Limited, Cyprus. It is an established company having moderate track. The company have
started their business operation in the year 2011. But management have denied
to disclose financial details. However trade relations are reported to be fair. Business is active.
Payments are unknown. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.
|
Source : CIA |
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.
INFORMATION DENIED BY
|
Name : |
Mr. Sachin |
|
Designation : |
Accountant |
|
Contact No.: |
91-2138-611999 |
|
Date : |
30.08.2012 |
LOCATIONS
|
Registered Office / Factory : |
D-276, D-277 and D-283, Ranjangaon Industrial Area, Karegaon, Shirur,
Pune – 412220, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch : |
408, B Wing, Everest Chambers, |
|
Tel. No.: |
91-22-66779933 |
|
Fax No.: |
91-22-28562266 |
DIRECTORS
As on 09.09.2011
|
Name : |
Mr. Sanjaykumar Rasiklal Doshi |
|
Designation : |
Director |
|
Address : |
17, Narendra Apartment, |
|
Date of Birth/Age : |
27.03.1968 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
00004274 |
|
|
|
|
Name : |
Mr. Wipawadee Paopaka |
|
Designation : |
Director |
|
Address : |
119/29-30, |
|
Date of Birth/Age : |
17.11.1976 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02856750 |
|
|
|
|
Name : |
Mr. Udomsri Sakdiarpa |
|
Designation : |
Director |
|
Address : |
479/46, Moo 12, |
|
Date of Birth/Age : |
14.05.1967 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02856919 |
|
|
|
|
Name : |
Mr. Yves Achille Jacques Carette |
|
Designation : |
Director |
|
Address : |
Lot No. 7, Burapha Golf, 281 Moo 4, Tambon Bung, Sriracha,
Chonburi-20110 |
|
Date of Birth/Age : |
03.11.1954 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02881789 |
|
|
|
|
Name : |
Mr. Jean Bernard Joseph Raymond Schifflers |
|
Designation : |
Director |
|
Address : |
Lot No. 32, Burapha Golf, 281 Moo 4, Tambon Bung, Sriracha,
Chonburi-20110 |
|
Date of Birth/Age : |
26.11.1962 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02881806 |
|
|
|
|
Name : |
Rudi Raymond Joseph Scheman |
|
Designation : |
Additional Director |
|
Address : |
64/19, Moo4, Pluakdaeng, |
|
Date of Birth/Age : |
22.09.1964 |
|
Date of Appointment : |
21.05.2010 |
|
DIN No.: |
03072306 |
|
|
|
|
Name : |
Amnon Kones |
|
Designation : |
Director |
|
Address : |
14975 24 Ave, |
|
Date of Birth/Age : |
07.09.1956 |
|
Date of Appointment : |
21.05.2010 |
|
DIN No.: |
03075440 |
|
|
|
|
Name : |
Mr. Alwin Godfrey Salins |
|
Designation : |
Director |
|
Address : |
Flat No. B-2-201, Yellow Blossom SNO 50 B T, |
|
Date of Birth/Age : |
16.10.1969 |
|
Date of Appointment : |
04.09.2010 |
|
DIN No.: |
03213774 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 09.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ampacet Cyprus Limited, |
|
13929094 |
|
Ampacet Investment II SARL |
|
1 |
|
TOTAL |
|
13929095 |
As on 17.10.2011
|
Names of Allottee |
|
No. of Shares
Allotted |
|
Ampacet Cyprus Limited, |
|
4073212 |
|
TOTAL |
|
4073212 |
Equity Share Break up (Percentage of Total Equity)
As on 09.09.2011
|
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 : |
Manufacturer and Exporter of Plastic Colours, Master Batches, Colour Concentrates
and Additive Concentrates, Chemicals, Pigments, Natural and Synthetic Resins,
Moulding Powder. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountant |
|
Address : |
Engineering Centre, 6th floor, |
|
PAN.: |
AAAFW4298E |
|
|
|
|
Holding Company : |
|
|
|
|
|
Associate |
|
CAPITAL STRUCTURE
As on 09.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18002307 |
Equity Shares |
Rs.10/- each |
Rs.180.023
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13929095 |
Equity Shares |
Rs.10/- each |
Rs.139.291
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
139.291 |
139.291 |
|
|
2] Share Application Money |
|
50.156 |
0.000 |
|
|
3] Reserves & Surplus |
|
22.143 |
22.288 |
|
|
4] (Accumulated Losses) |
|
(30.983) |
0.000 |
|
|
NETWORTH |
|
180.607 |
161.579 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
265.593 |
0.000 |
|
|
TOTAL BORROWING |
|
265.593 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
446.200 |
161.579 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
66.991 |
0.000 |
|
|
Capital work-in-progress |
|
312.019 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
12.876 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
117.714 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
62.142 |
161.579 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
53.826 |
0.000 |
|
Total
Current Assets |
|
233.682 |
161.579 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
87.699 |
0.000 |
|
|
Other Current Liabilities |
|
91.383 |
0.000 |
|
|
Provisions |
|
0.286 |
0.000 |
|
Total
Current Liabilities |
|
179.368 |
0.000 |
|
|
Net Current Assets |
|
54.314 |
161.579 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
446.200 |
161.579 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.000 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL (A) |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
37.448 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
(37.448) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
6.175 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
|
|
(43.623) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
|
|
(43.859) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
(12.876) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
|
|
(30.983) |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (Rs.) |
|
|
(2.22) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(14.59) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.24) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.46 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.30 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.in million)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Due to Small, Micro |
0.000 |
0.000 |
|
Due Others |
87.699 |
0.000 |
|
TOTAL |
87.699 |
0.000 |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one year |
No |
|
12] |
Profitability for last
one year |
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 |
Yes |
|
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 408, B Wing, Everest Chambers, Kurla Road, Marol Naka, Andheri (East),
Mumbai-400059, Maharashtra, India to present address
FIXED ASSETS
- Building Improvement
- Plant and Machinery
- Vehicle
- Computer Equipment
- Furniture and Fixture
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.55.66 |
|
|
1 |
Rs.80.04 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.