|
Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
ENVIRON SPECIALITY CHEMICALS PRIVATE LIMITED |
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Registered Office
: |
A-305, |
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Country : |
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|
|
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Financials (as
on) : |
31.03.2011 |
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|
|
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Date of
Incorporation : |
04.04.2001 |
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|
|
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Com. Reg. No.: |
11-131510 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24117MH2001PTC131510 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME07846G PNEE01583B |
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PAN No.: [Permanent Account No.] |
AAACE8977H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in Chemicals. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20000 |
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|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track. Trade relations are reported as
fair. Business is active. Payments are reported to be usually correct 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
A-305, |
|
Tel. No.: |
91-22-40039230/ 31/ 32/ 42489200 |
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Fax No.: |
91-22-40039240 |
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E-Mail : |
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Website : |
DIRECTORS
As on 23.09.2011
|
Name : |
Mr. Anupam Babulal Kapadia |
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Designation : |
Director |
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Address : |
904, Quiescent Height, |
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Date of Birth/Age : |
28.03.1971 |
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Date of Appointment : |
04.04.2001 |
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DIN No.: |
00478437 |
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Other Directorship :
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||||||||||||||||||||||||
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Name : |
Ms. Sushila Babulal Kapadia |
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Designation : |
Director |
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Address : |
904, Quiescent Height, |
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Date of Birth/Age : |
15.06.1933 |
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Date of Appointment : |
04.04.2001 |
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DIN No.: |
00478468 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Anupam Babulal Kapadia |
|
45000 |
|
Sushila Babulal Kapadia |
|
5000 |
|
Total |
|
50000 |
As on 23.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Chemicals. |
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|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
v Patan
Co-Operative Bank Limited, 75, Rasik Niwas Patan Jain Mandal Marg, Mumbai –
400 020, v State Bank of v Bank of v Saraswat Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Virkumar R. Dobhada Chartered Accountant |
|
Address : |
15/109, Motilal Nagar No.3, |
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Tel. No.: |
91-22-26681535 |
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Mobile No.: |
91-9820364340 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AACPD4430H |
CAPITAL STRUCTURE
After 23.09.2011
Authorised Capital : Rs.2.000 millions
Issued, Subscribed & Paid-up Capital : Rs.0.500
million
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
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 |
0.500 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.616 |
2.849 |
1.539 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.116 |
2.949 |
1.639 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.290 |
5.116 |
4.598 |
|
|
2] Unsecured Loans |
10.276 |
5.338 |
4.747 |
|
|
TOTAL BORROWING |
16.566 |
10.454 |
9.345 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21.682 |
13.403 |
10.984 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.094 |
0.865 |
0.819 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.624 |
0.314 |
0.245 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.633
|
7.136 |
2.978 |
|
|
Sundry Debtors |
20.609
|
10.704 |
4.584 |
|
|
Cash & Bank Balances |
3.053
|
0.576 |
0.207 |
|
|
Other Current Assets |
0.259
|
0.425 |
0.110 |
|
|
Loans & Advances |
0.448
|
0.054 |
4.648 |
|
Total
Current Assets |
40.002
|
18.895 |
12.527 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.690
|
5.167 |
2.091 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
2.348
|
1.504 |
0.539 |
|
Total
Current Liabilities |
24.038
|
6.671 |
2.630 |
|
|
Net Current Assets |
15.964
|
12.224 |
9.897 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.023 |
|
|
|
|
|
|
|
|
TOTAL |
21.682 |
13.403 |
10.984 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
129.936 |
90.608 |
44.009 |
|
|
|
Other Income |
0.200 |
0.125 |
0.123 |
|
|
|
TOTAL (A) |
130.136 |
90.733 |
44.132 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
112.327 |
81.105 |
41.010 |
|
|
|
Administrative Expenses |
8.069 |
4.300 |
1.511 |
|
|
|
Selling and Distribution Expenses |
2.759 |
1.279 |
0.073 |
|
|
|
Miscellaneous Expenses W/off |
0.000 |
0.023 |
0.000 |
|
|
|
Director Remuneration |
2.040 |
1.200 |
0.540 |
|
|
|
TOTAL (B) |
125.195 |
87.907 |
43.134 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.941 |
2.826 |
0.998 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
1.409 |
0.757 |
0.594 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.532 |
2.069 |
0.404 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.195 |
0.142 |
0.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.337 |
1.927 |
0.264 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.988 |
0.608 |
0.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.349 |
1.319 |
0.164 |
|
|
|
|
|
|
|
|
|
|
Donation |
(0.005) |
(0.009) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
0.500 |
0.000 |
0.000 |
|
|
|
Dividend Tax |
0.077 |
0.000 |
0.000 |
|
|
NET PROFIT TRANSFERRED
TO BALANCE SHEET |
1.767 |
1.310 |
0.164 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
46.98 |
131.90 |
16.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.81
|
1.45 |
0.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.57
|
2.13 |
0.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.12
|
9.75 |
1.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.65
|
0.65 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.94
|
5.81 |
7.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66
|
2.83 |
4.76 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate
identity number of the company |
U24117MH2001PTC131510 |
|
Name of the
company |
ENVIRON SPECIALITY CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-305, E-Mail: akapadia_environ@sify.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80053527 |
|
Type of charge |
Book Debts Others
(Stock) |
|
Particular of
charge holder |
(Mr. Anupam
Babulal Kapadia) Patan
Co-Operative Bank Limited, 75, Rasik Niwas Patan Jain Mandal Marg, Mumbai – 400
020, E-Mail: patanbank@yahoo.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental deed
of hypothecation dated 7th October, 2009 |
|
Date of instrument
Creating the charge |
07.10.2009 |
|
Amount secured by
the charge |
Rs.5.500 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest 14.5%
p.a. Terms of
Repayment: On Demand Extent and
Operation of the charge: Letter of
credit facility limit increased from
Rs.4.000 millions to Rs.5.500 millions |
|
Short particulars
of the property charged |
All tangible movable
assets of the Company including in particular all stock such as paints chemicals, uibricants Biocide etc.
situate at Building 38 godown 12 Arihant compound or in transit etc. |
|
Date of latest
modification prior to the present modification |
16.04.2009 |
|
Particulars of
the present modification |
The Bank has
granted Letter of Credit Limit has enhanced from Rs.4.000 millions to
Rs.5.500 millions. |
FIXED ASSETS:
v
Air Conditioner
v
Computer
v
Furniture and Fixture
v
Generator
v
Motor Car
v
v
Office Equipment
v
UPS
v
Xerox Machine
v
Vending Machine
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.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.84 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.