MIRA
INFORM REPORT
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Report Date : |
31.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHAYANI AUXI-CHEM PRIVATE LIMITED |
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Registered
Office : |
A-4, Neelkanth Tirth, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.12.1993 |
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Com. Reg. No.: |
11-075411 |
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Capital
Investment / Paid-up Capital : |
Rs.1.480 Millions |
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CIN No.: [Company Identification
No.] |
U24110MH1993PTC075411 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB06588B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture of Auxiliary and Allied Products. |
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No. of Employees
: |
11 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 3800 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses being 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) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 PARTED BY
|
Name : |
Mr. Ajay Sanmukhrai Bhayani |
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Designation : |
Director |
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Contact No.: |
91-9967655220 |
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Date : |
26.07.2012 |
LOCATIONS
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Registered Office : |
A-4, Neelkanth Tirth, |
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Tel. No.: |
91-22-25613354 |
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Mobile No.: |
91-9967655220 (Mr. Ajay Sanmukhrai Bhayani) |
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E-Mail : |
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Area : |
1000 Sq. ft. |
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Location : |
Owned |
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Factory : |
A-703, TTC Industrial Area, MIDC, Thane Belapur Road, Mahape Village,
Navi Mumbai – 400703, Maharashtra, India |
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Area : |
5000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sanmukhrai Amritlal Bhayani |
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Designation : |
Director |
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Address : |
A-7, Neelkanth Tirth, Zaver Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
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Date of Birth/Age : |
01.02.1930 |
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Date of Appointment : |
02.12.1993 |
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DIN No. : |
01123156 |
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Name : |
Mr. Ajay Sanmukhrai Bhayani |
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Designation : |
Director |
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Address : |
201, Chandanbala, 2nd Floor, Sarvodya Nagar, |
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Date of Birth/Age : |
27.10.1958 |
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Date of Appointment : |
02.12.1993 |
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DIN No. : |
01123106 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Sanmukhrai Amritlal Bhayani |
|
3509 |
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Ajay Sanmukhrai Bhayani |
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3037 |
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Nita Ajay Bhayani |
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2300 |
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Sanmukhrai Amritlal Bhayani (HUF) |
|
1351 |
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Ajay Sanmukhrai Bhayani (HUF) |
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1351 |
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Sarla S. Bhayani |
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3250 |
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Kavish A. Bhayani |
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1 |
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Ankit A. Bhayani |
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1 |
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Total |
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14800 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Auxiliary and Allied Products. |
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Products : |
For Printing : · Binder ALN (Acrylic co-polymer emulsion for pigment binder) · Binder ECN (Acrylic co-polymer emulsion for pigment binder) · Binder 4000 (Acrylic co-polymer emulsion for pigment binder) · Binder 9400 (Acrylic co-polymer emulsion for khadi pearl and raised binder) · Binder GB SPL (Gold / Metal binder) · Binder FL (Flock binder) · Binder TK-60 (Synthetic thickener) For Dyeing and
Finishing : · Dmdhu (Cross linking agent) · Finish Kvs (Dimethyl dihydroxy ethylene urea cross linking agent for crease recovery) · Jayfeel-300 (Polyethylene emulsion) · Minsol-D (Polyvinyl acetate emulsion) · Finish DR (Acrylic based finishing agent) · Betex-AT (Acrylic based finishing agent) · Besoft AM (Amino silicon) For Velvet : · VC PVCOL-SPL (Sizing agent) · VC DESIZEX (De-sizing agent) · VICI BRIGHT TRO (High sulphonated caster oil) · VICI POL CONC DT (An ionic detergent) · VC SOFT SSP (Non steric acid reactive softener) · VC WAX EMULSION · VC FINISH SPL-II (Cross linking agent) |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Suppliers : |
· Agarwal Dye Chem Corporation · Ajmera Rasayana Udyog · Ankur Chemicals · Ankush Enterprises · Asian Trade Link · Ashoka Industry · Auxitex Indu · C. J. Shah · Creative Dyestues · Doshi Chem Indu · D. P. Enterprises · Durga-Shanti Traders · Elegant Enterprise · Essbee Fire Services · Esteem Industries Private Limited New · Esteem Industries Private Limited · Hardik Dye Chem · Heavy Chemicals Corporation · H.M. Dye Chem · Hetal Chem Impexcorp · Hitesh Enterprises · Impex International · Industrial Plastic and Bakelite Works · J.K. Enterprise · Jash Pharma Chem ·
Jupiter Chemicals |
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Customers : |
End Users · A-1 Prints · Abhipray Enterprise · Aditi Associates · Aerosol Service Private Limited · Alpic (India) · Ar-Tax Prints · Asha Prints · Asian Woolen Mills · Avani Processors · Bhavin Chem Industries · Chandrakant and Company · Danish Private Limited · Darshan Art Prints Private Limited · D.Vasant and Company · Farbe Star · Fatehpuria Transformers and Switch · Gem Insulations Private Limited · Good Luck Prints · Govind Silk Mills · Hind Natural Dyes · Indokem Exports Limited Mumbai · Indokem Limited · Jaju Creations Jalaram Trading Company · J.B. Dye Chem · Jyoti Ceramic Industry Private Limited |
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No. of Employees : |
11 (Approximately) |
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Bankers : |
Union Bank of India, Mulund, Mumbai, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kapadia and Gajaria Associates Chartered Accountants |
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Address : |
3, Laxmi Niwas, 1st Floor, |
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Tel. No.: |
91-22-25605536 / 25643844 |
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E-Mail : |
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PAN.: |
AAAFK7135Q |
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Memberships : |
Chemical and Alkali Merchant Association (CAMA |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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14800 |
Equity Shares |
Rs.100/-each |
Rs.1.480
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.480 |
1.480 |
1.480 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(0.512) |
(0.432) |
(0.312) |
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NETWORTH |
0.968 |
1.048 |
1.168 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
8.916 |
7.610 |
7.583 |
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TOTAL BORROWING |
8.916 |
7.610 |
7.583 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9.884 |
8.658 |
8.751 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.922 |
2.198 |
2.677 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.829
|
0.872
|
0.778 |
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Sundry Debtors |
6.341
|
6.422
|
6.331 |
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Cash & Bank Balances |
0.471
|
0.393
|
0.818 |
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Other Current Assets |
1.623
|
1.293
|
0.169 |
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Loans & Advances |
0.000
|
0.000
|
0.000 |
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Total
Current Assets |
10.264
|
8.980
|
8.096 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.900
|
2.106
|
1.615 |
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Other Current Liabilities |
0.000
|
0.000
|
0.000 |
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Provisions |
0.402
|
0.414
|
0.407 |
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Total
Current Liabilities |
2.302
|
2.520
|
2.022 |
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Net Current Assets |
7.962
|
6.460
|
6.074 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9.884 |
8.658 |
8.751 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
13.097 |
12.951 |
11.903 |
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Other Income |
0.000 |
0.079 |
0.591 |
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TOTAL |
13.097 |
13.030 |
12.494 |
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Less |
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Office Expenses |
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Administrative Expenses |
12.848 |
12.726 |
11.868 |
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Advertising Expenses |
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TOTAL |
12.848 |
12.726 |
11.868 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.249 |
0.304 |
0.626 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.329 |
0.425 |
0.547 |
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PROFIT / (LOSS)
BEFORE TAX |
(0.080) |
(0.121) |
0.079 |
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT /
(LOSS)AFTER TAX |
(0.080) |
(0.121) |
0.079 |
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Earnings Per
Share (Rs.) |
(5.41) |
NA |
NA |
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Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
13.300 |
Expected Sales (2012-13) : Rs.14.000 Millions
The above information has been parted by Mr. Ajay Sanmukhrai Bhayani
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.61)
|
(0.93)
|
0.66 |
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Net Profit Margin (PBT/Sales) |
(%) |
(0.61)
|
(0.93)
|
0.66 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(0.66)
|
(1.08)
|
0.73 |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.08)
|
(0.11)
|
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
|
11.59
|
9.67
|
8.22 |
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Current Ratio (Current Asset/Current Liability) |
|
4.46
|
3.56
|
4.00 |
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 |
(Yes) |
|
5] |
Type of Business |
(Yes) |
|
6] |
Line of Business |
(Yes) |
|
7] |
Promoter's background |
(Yes) |
|
8] |
No. of employees |
(Yes) |
|
9] |
Name of person contacted |
(Yes) |
|
10] |
Designation of contact person |
(Yes) |
|
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 |
(Yes) |
|
15] |
Capital in the business |
(Yes) |
|
16] |
Details of sister concerns |
(No) |
|
17] |
Major suppliers |
(Yes) |
|
18] |
Major customers |
(Yes) |
|
19] |
Payments terms |
(Yes) |
|
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] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
32] |
Passport No of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
PERFORMANCE OF THE COMPANY:
During the year, the Company achieved Gross Receipt (Including other income) of Rs.13.097 Millions and made a Profit before depreciation of Rs.0.249 Million After providing for depreciation of Rs.0.329 Millions the Company posted loss of Rs.0.080 Millions and loss to the tune of Rs.0.080 Millions is being carried forward to the Balance sheet.
Fixed Assets
· Computer
· Electric Fittings
· Factory Building
· Inverter
· Land
· Laptop
· Mobile Phone
· Motor Car
· Plant and Machinery
· Scales
· Scooter
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.55.44 |
|
|
1 |
Rs.87.12 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
3 |
|
--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 |
|
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.