MIRA
INFORM REPORT
|
Report Date : |
18.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
MANAV BIO CHEM IMPEX PRIVATE LIMITED |
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Registered
Office : |
503 Parshav Chambers, 17/12, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.05.2005 |
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Com. Reg. No.: |
11-153120 |
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Capital
Investment / Paid-up Capital : |
Rs.12.150
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U51496MH2005PTC153120 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM27102F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Chemicals and Solvents. |
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No. of Employees
: |
10 [Approximately] |
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 170000 |
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Status : |
Satisfactory |
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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. 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 PARTED BY
|
Name : |
Mr. Rajan Sidhpura |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-65178734 |
|
Date : |
17.01.2012 |
LOCATIONS
|
Registered Office : |
503 Parshav Chambers, 17/12, Issaji Street, Vadgadi, Mumbai - 400 003, Maharashtra, India |
|
Tel. No.: |
91 - 22 - 65178734 |
|
Fax No.: |
91 - 22 - 25916911 |
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E-Mail : |
|
|
Area : |
590 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Administrative
Office : |
B 12, Chandra Dharshan, PK Road, Pach Rasta, Above Lijat Papad, Mulund (West), Mumbai – 400 080, Maharashtra, India |
|
Tel No: |
91-22-65178734 |
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Fax No : |
91-22-25916911 |
|
Area : |
330 Sq. ft |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mukesh Kantilal Shah |
|
Designation : |
Director |
|
Address: |
8 Javer Apartment, 1st Floor, |
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Date of Birth/Age: |
19.05.2005 |
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Qualification: |
B.Com |
|
Date of Appointment : |
05.09.1968 |
|
Din No.: |
01624924 |
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|
|
|
Name : |
Mrs. Naina Mukesh Shah |
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Designation : |
Director |
|
Address: |
8 Javer Apartment, 1st Floor, |
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Date of Birth/Age: |
19.05.2005 |
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Qualification: |
B.Com |
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Date of Appointment : |
01.02.1971 |
|
Din No.: |
01624932 |
KEY EXECUTIVES
|
Name : |
Mr. Rajan Sidhpura |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Kantilal Shah |
|
215000 |
|
Naina Mukesh Shah |
|
135000 |
|
Mukesh Kantilal Shah |
|
505000 |
|
Mukesh Kantilal Shah HUF |
|
210000 |
|
Jasumati K. Shah |
|
50000 |
|
Bhadra J. Shah |
|
35000 |
|
Asha Vipul Shah |
|
30000 |
|
Ela Shah |
|
30000 |
|
Ranjan K. Shah |
|
1000 |
|
Hasmukh R. Doshi |
|
1000 |
|
Jatin Jaysukh Vora |
|
1000 |
|
Praksh B. Rajpurohit |
|
1000 |
|
Jitendra K. Shah |
|
400 |
|
Dilip Shah |
|
100 |
|
Jitendra K. Shah HUF |
|
100 |
|
M.G. Shah HUF |
|
100 |
|
Neeta k. Sanghavi |
|
100 |
|
Tejas Mahipat Shah |
|
100 |
|
Hetal J. Shah |
|
100 |
|
|
|
|
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Total |
|
1215000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Chemicals and Solvents. |
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Imports : |
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Products : |
Chemicals and Solvents |
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Countries : |
·
Taiwan ·
Germany ·
China ·
Korea ·
USA ·
Turkey |
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Terms : |
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Selling : |
L/C / Cash and Credit [30, 60 and 90 days] |
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Purchasing : |
L/C / Cash and Credit [30, 60 and 90 days] |
GENERAL INFORMATION
|
Suppliers : |
·
Century Rayon ·
C J Shah and Company ·
Chemical Corp Limited ·
Golden India Carrier ·
Vardhman Chemical ·
Turakhia Associates ·
Paras Enterprises ·
Aero Chem Impex Private Limited ·
Desmo Exports Limited ·
Dilop P Mehta and Company |
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Customers : |
OEM’s and Others [Pharmaceutical Company] ·
Virdev Intermediaries Private Limited ·
Sudarshan Chemical ·
Ami Sales Corporation ·
Leo Chemo Plasts Limited ·
Sigma Chem International ·
Everest Organics Limited ·
United Phosphorous Limited ·
Mody Associates ·
Harsh Exim ·
R Nandlal and Sons ·
Gautam Chemicals ·
Pragati Enterprises |
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No. of Employees : |
10 [Approximately] |
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Bankers : |
· Union Bank of India, Khand Bazar Branch, 109, Kazi Syed Street, Khand Bazar, Mumbai-400 003, Maharashtra, India · Federal Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
F.R.S and Associates Chartered Accountant |
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Address : |
101, 102,103, Marathon Chambers, |
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Tel. No.: |
91-22-25602000 |
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E-Mail : |
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Pan No.: |
AABFF5531E |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1215000 |
Equity Shares |
Rs.10/- each |
Rs.12.150
Millions |
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 |
12.150 |
12.150 |
12.150 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
32.712 |
30.871 |
29.266 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
44.862 |
43.021 |
41.416 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.090 |
|
|
2] Unsecured Loans |
6.930 |
10.634 |
9.131 |
|
|
TOTAL BORROWING |
6.930 |
10.634 |
9.221 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
51.792 |
53.655 |
50.637 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
0.709 |
0.936 |
1.116 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.013
|
11.973 |
8.855 |
|
|
Sundry Debtors |
57.366
|
98.367 |
184.502 |
|
|
Cash & Bank Balances |
17.203
|
6.809 |
20.114 |
|
|
Other Current Assets |
13.930
|
18.466 |
28.127 |
|
|
Loans & Advances |
14.675
|
3.345 |
2.414 |
|
Total
Current Assets |
120.187
|
138.960 |
244.012 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
68.589
|
86.092 |
192.024 |
|
|
Other Current Liabilities |
0.115
|
0.069 |
2.426 |
|
|
Provisions |
0.400
|
0.080 |
0.041 |
|
Total
Current Liabilities |
69.104
|
86.241 |
194.491 |
|
|
Net Current Assets |
51.083
|
52.719 |
49.521 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
51.792 |
53.655 |
50.637 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
378.473 |
272.345 |
741.129 |
|
|
|
Other Income |
3.450 |
6.667 |
2.602 |
|
|
|
TOTAL |
381.923 |
279.012 |
743.731 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
362.284 |
259.608 |
695.376 |
|
|
|
Personal Expenses |
5.948 |
5.948 |
9.908 |
|
|
|
Bank Interest and Charges |
0.452 |
0.416 |
0.570 |
|
|
|
Other Interest |
0.586 |
0.861 |
0.730 |
|
|
|
Other Expenses |
9.810 |
9.475 |
27.780 |
|
|
|
TOTAL |
379.080 |
276.308 |
734.364 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.843 |
2.704 |
9.367 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.251 |
0.321 |
0.218 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.592 |
2.383 |
9.149 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.751 |
0.778 |
3.217 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.841 |
1.605 |
5.932 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.571 |
7.966 |
2.034 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
11.412 |
9.571 |
7.966 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.52 |
1.32 |
4.88 |
|
Expected Sales (2011-12) : Rs.500.000 Millions.
The above information has been parted by Mr. Rajan Sidhpura.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.48
|
0.57 |
0.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.68
|
0.87 |
1.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.14
|
1.70 |
3.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.69
|
2.25 |
4.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74
|
1.61 |
1.25 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
68.589
|
86.092 |
192.024 |
PARTIAL DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Century Rayon |
1.966 |
3.627 |
3.797 |
|
C J Shah and
Company |
3.272 |
0.000 |
0.004 |
|
Chemical Corp
Limited |
1.410 |
0.000 |
0.000 |
|
Golden India Carrier
|
1.407 |
0.450 |
1.311 |
|
Saraswati
Chemical Corp |
2.149 |
1.509 |
1.759 |
|
R R Enterprises |
5.477 |
0.000 |
0.000 |
|
Aero Chem Impex
Private Limited |
2.176 |
1.293 |
3.510 |
|
Insecticides
India Limited |
1.114 |
0.000 |
0.000 |
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10003388 |
|
Corporate
identity number of the company |
U51496MH2005PTC153120 |
|
Name of the
company |
MANAV BIO CHEM IMPEX
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
503 Parshav Chambers, 17/12, Issaji Street, Vadgadi, Mumbai - 400 003, Maharashtra, India |
|
Type of charge |
Others |
|
Particular of
charge holder |
Union Bank of India, Khand Bazar Branch, 109, Kazi Syed
Street, Khand Bazar, Mumbai-400 003, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
D.P. Note and
Letter of Hypothecation of Bills |
|
Date of
instrument Creating the charge |
06.06.2008 |
|
Amount secured by
the charge |
Rs.2.500 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 16.25% per annum
with monthly rests Terms of
Repayment On Demand Margin As per sanction
terms Extent and
Operation of the charge To secure UBD advance
against Supply Bills facility of Rs.2.500 Millions granted by the Bank to the
Company. |
|
Short particulars
of the property charged |
Purchase from or
negotiate a Bill or Bills of Exchange drawn or accepted or endorsed against
goods and/or merchandise (hereinafter referred to as goods) or shipping or
other documents and/or hold such or any other Bill or Bills of Exchange
and/or documents for collection on the Borrower's account under lien to the
Bank |
|
Particulars of
the present modification |
The Original
Charge Dated: 10/04/2006 for Rs.5.000 Milions is hereby modified and reduced
to Rs.2.500 Millions and secured against Purchase from or negotiate a Bill or
Bills of Exchange drawn or accepted or endorsed against goods and/or
merchandise (hereinafter referred to as goods) or shipping or other documents
and/or hold such or any other Bill or Bills of Exchange and/or documents for
collection on the Borrower's account under lien to the Bank |
FIXED ASSETS:
- Computers
- UPS System (Inverter)
- Car – Hyundai Santro
- Air Condition
- Locker
- Godown – Bhiwandi
- Matrix Vision
- Furniture and Fixtures
- Car – Scorpio (New)
- Water Cooler
- Sansui LCD TV
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.51.07 |
|
|
1 |
Rs.78.48 |
|
Euro |
1 |
Rs.65.00 |
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.