1. Summary Information
|
|
|
Country |
|
|
Company Name |
BHABANI PIGMENTS PRIVATE LIMITED |
Principal Name 1 |
Mr. Santosh Kumar Kanoi |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Amrit Lal Garg |
|
|
|
Registration # |
55-55513 |
|
Street Address |
A-30, Block B-1, 3rd Floor, Mohan Co Operative Industrial
Estate, Mathura Road, New Delhi-110044 |
||
|
Established Date |
04.10.1993 |
SIC Code |
-- |
|
Telephone# |
91-11-41676738 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-41676739 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Refined Copper Phthalocyanine |
|
|
# of employees |
Not Available |
Product Name 2 |
Dehydro Copper Complex |
|
Paid up capital |
Rs.14,250,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 68.60%, Directors or relatives of Directors 31.40% |
Banking |
ICICI Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
19 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Party |
-- |
Golden Pigments Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
197,388,000 |
Current Liabilities |
34,037,000 |
|
Inventories |
51,617,000 |
Long-term Liabilities |
158,347,000 |
|
Fixed Assets |
357,544,000 |
Other Liabilities |
66,932,000 |
|
Deferred Assets |
000 |
Total Liabilities |
259,316,000 |
|
Invest& other Assets |
38,542,000 |
Retained Earnings |
371,320,000 |
|
|
|
Net Worth |
385,775,000 |
|
Total Assets |
645,091,000 |
Total Liab. & Equity |
645,091,000 |
|
Total Assets (Previous Year) |
484,000,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
809,414,000 |
Net Profit |
118,000,000 |
|
Sales(Previous yr) |
601,138,000 |
Net Profit(Prev.yr) |
80,218,000 |
|
Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHABANI PIGMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-30, Block B-1, 3rd Floor, Mohan Co Operative Industrial
Estate, Mathura Road, New Delhi-110044 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.10.1993 |
|
|
|
|
Com. Reg. No.: |
55-55513 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1993PTC055513 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Refined Copper Phthalocyanine, Dehydro Copper Complex
of Phthalocyanine. |
|
|
|
|
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 1500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track records. 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 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
A-30, Block B-1, 3rd Floor, Mohan Co Operative Industrial
Estate, Mathura Road, New Delhi-110044, |
|
Tel. No.: |
91-11-41676738 |
|
Fax No.: |
91-11-41676739 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
7, E Bock 2nd Floor, Local Shopping Centre, Masjid Moth
Greater Kailash II, New Delhi – 110 048, India |
|
Tel. No.: |
91-11-26217775 |
|
|
|
|
Factory : |
|
|
Tel No.: |
91-130-2802161 |
DIRECTORS
AS ON 15.06.2011
|
Name : |
Mr. Santosh Kumar Kanoi |
|
Designation : |
Director |
|
Address : |
9, Raja Santosh Road, Kolkata-700027, West Bengal, India |
|
Date of Birth/Age : |
07.01.1952 |
|
Date of Appointment : |
23.06.2010 |
|
DIN No.: |
00166517 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U67120WB1955PTC022361 |
Sri
Bhabani Investments Private Limited |
Director |
30-07-75 |
30-07-75 |
Active |
NO |
|
2 |
U01111WB1985PTC039884 |
Kanoi
Agro Industries Private Limited |
Director |
23-12-85 |
23-12-85 |
Active |
NO |
|
3 |
L51103WB1960PLC024852 |
Universal
Properties Limited |
Director |
19-05-86 |
19-05-86 |
Active |
NO |
|
4 |
U74899DL1986PTC026430 |
Rapid
Properties Private Limited |
Director |
15-04-87 |
15-04-87 |
Active |
NO |
|
5 |
L65920DL1985PLC020269 |
Dharower
Financial Services Limited |
Director |
02-03-92 |
02-03-92 |
Active |
NO |
|
6 |
U01132WB1971PTC028016 |
Binaguri
Tea Company Private Limited |
Director |
20-07-92 |
20-07-92 |
Active |
NO |
|
7 |
U74899DL1988PTC033610 |
Indo
Leather Private Limited |
Director |
27-09-93 |
27-09-93 |
Active |
NO |
|
8 |
U74899DL1992PTC048019 |
Golden
Pigments Private Limited |
Director |
11-12-94 |
11-12-94 |
Active |
NO |
|
9 |
U01132WB1953PTC021220 |
Kanoi
Estates Private Limited |
Director |
28-08-08 |
07-11-07 |
Active |
NO |
|
10 |
U74899DL1993PTC055513 |
Bhabani
Pigments Private Limited |
Director |
15-06-11 |
23-06-10 |
Active |
NO |
|
Name : |
Mr. Amrit Lal Garg |
|
Designation : |
Director |
|
Address : |
House No. 417, Sector -28/, Faridabad-121 008, |
|
Date of Birth/Age : |
25.04.1952 |
|
Date of Appointment : |
04.10.1993 |
|
DIN No.: |
00152990 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1992PTC048019 |
Golden
Pigments Private Limited |
Director |
03-05-93 |
03-05-93 |
Active |
NO |
|
2 |
U74899DL1993PTC055513 |
Bhabani
Pigments Private Limited |
Director |
04-10-93 |
04-10-93 |
Active |
NO |
|
Name : |
Mr. Anant Kanoi |
|
Designation : |
Director |
|
Address : |
9, |
|
Date of Birth/Age : |
22.03.1979 |
|
Date of Appointment : |
15.03.2002 |
|
DIN No.: |
00150667 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1986PTC026430 |
Rapid
Properties Private Limited |
Director |
16-07-01 |
16-07-01 |
Active |
NO |
|
2 |
U74899DL1988PTC033610 |
Indo
Leather Private Limited |
Director |
14-08-01 |
14-08-01 |
Active |
NO |
|
3 |
U74899DL1992PTC048019 |
Golden
Pigments Private Limited |
Director |
16-08-01 |
16-08-01 |
Active |
NO |
|
4 |
U74899DL1993PTC055513 |
Bhabani
Pigments Private Limited |
Director |
15-03-02 |
15-03-02 |
Active |
NO |
|
5 |
L65920DL1985PLC020269 |
Dharower
Financial Services Limited |
Director |
10-01-03 |
10-01-03 |
Active |
NO |
|
6 |
L32104DL1979PLC009590 |
Precision
Electronics Limited |
Director |
08-08-05 |
08-08-05 |
Active |
NO |
|
7 |
U18109WB1979PLC032018 |
Synthetic
Spinners (India) Limited |
Director |
16-09-05 |
16-09-05 |
Active |
NO |
|
Name : |
Mr. Nitender Kumar Gupta |
|
Designation : |
Director |
|
Address : |
Sector–II, E, Flat No. 12C, Kalpana, Vaishali Ghaziabad-251010, Uttar
Pradesh, India |
|
Date of Birth/Age : |
20.11.1954 |
|
Date of Appointment : |
04.10.1993 |
|
DIN No.: |
00538578 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
L65920DL1985PLC020269 |
Dharower
Financial Services Limited |
Director |
10-07-89 |
10-07-89 |
Active |
NO |
|
2 |
U74899DL1993PTC055513 |
Bhabani
Pigments Private Limited |
Director |
04-10-93 |
04-10-93 |
Active |
NO |
|
3 |
U22222DL2008PTC179957 |
Batchbuzz
Media Private Limited |
Director |
21-07-08 |
21-07-08 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.06.2011
|
Names of Shareholders |
No. of Shares |
|
Amrit Lal Garg |
121350 |
|
Master Asheesh Garg |
30000 |
|
Usha Rani Garg |
60900 |
|
Nitender Kumar Gupta |
150 |
|
Rapid Properties Private Limited, India |
138850 |
|
Indo Leather Private Limited, India |
133400 |
|
Golden Pigments Private Limited, India |
139250 |
|
Dharower Financial Services Limited, India |
46000 |
|
Binaguri Tea Company Private Limited, India |
269250 |
|
Kanoi Estates Private Limited, India |
53700 |
|
Nirmal Kumar Kanoi |
19200 |
|
Mohini Devi Kanoi |
14550 |
|
Chandra Prakash Kanoi |
19050 |
|
Santosh Kumar Kanoi |
34350 |
|
Chandra prakash Kanoi HUF |
14250 |
|
Sri Bhabani Investment Private Limited, India |
183000 |
|
Usha Kanoi |
14550 |
|
Bina Kanoi |
14550 |
|
Satyam Kanoi |
36600 |
|
Shivam Kanoi |
37350 |
|
Anant Kanoi |
29850 |
|
Vedant Kanoi |
14850 |
|
|
|
|
Total
|
1425000 |
AS ON 15.06.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
68.60 |
|
Directors or relatives of Directors |
31.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Refined Copper Phthalocyanine, Dehydro Copper Complex
of Phthalocyanine. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
CPC Blue |
Per Annum in
Tons |
1500 |
1242 |
|
DHCCP |
Per Annum in
Tons |
3000 |
2543 |
Notes:
1. Capacity as certified by the Management.
2. The turnover does not include sale of scrap for Rs. 1.226 Millions
(Previous Year Rs. 0.905 million)
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
ICICI Bank Limited ·
State Bank of |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Maheshwari Rajiv and Company Chartered Accountant |
|
Address : |
D -288/10, Laxmi Nagar, 207, Wadhwa Complex, New Delhi-110 092, |
|
|
|
|
Related Party : |
·
Golden Pigments Private Limited ·
Rapid Properties Private Limited ·
Indo Leather Private Limited ·
Dharower Financial Services Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1425000 |
Equity Shares |
Rs.10/- each |
Rs.14.250
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 |
14.250 |
14.250 |
14.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
371.525 |
257.320 |
176.826 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
385.775 |
271.570 |
191.076 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
118.622 |
71.797 |
59.784 |
|
|
2] Unsecured Loans |
39.725 |
18.829 |
14.764 |
|
|
TOTAL BORROWING |
158.347 |
90.626 |
74.548 |
|
|
DEFERRED TAX LIABILITIES |
10.994 |
11.368 |
7.781 |
|
|
CAPITAL STATE SUBSIDY |
1.500 |
1.500 |
1.500 |
|
|
|
|
|
|
|
|
TOTAL |
556.616 |
375.064 |
274.905 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
357.544 |
245.931 |
174.742 |
|
|
Capital work-in-progress |
28.653 |
18.269 |
7.355 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.889 |
8.370 |
11.666 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.617
|
39.336
|
23.398
|
|
|
Sundry Debtors |
141.316
|
115.548
|
56.421
|
|
|
Cash & Bank Balances |
1.773
|
21.491
|
3.862
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
54.299
|
35.055
|
29.225
|
|
Total
Current Assets |
249.005
|
211.430 |
112.906 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.147
|
68.590
|
15.656
|
|
|
Other Current Liabilities |
15.890
|
7.672
|
5.516
|
|
|
Provisions |
54.438
|
32.674
|
10.592
|
|
Total
Current Liabilities |
88.475
|
108.936
|
31.764 |
|
|
Net Current Assets |
160.530
|
102.494
|
81.142
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
556.616 |
375.064 |
274.905 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
809.414 |
601.138 |
541.953 |
|
|
|
|
24.080 |
16.008 |
9.531 |
|
|
|
Other Income |
10.275 |
7.185 |
6.780 |
|
|
|
TOTAL (A) |
843.769 |
624.331 |
558.264 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Production manufacturing and maintenance expenses |
579.905 |
445.042 |
426.174 |
|
|
|
Payments to and provision for employees |
7.067 |
6.364 |
5.316 |
|
|
|
Administrative, selling and other expenses |
37.750 |
29.052 |
24.580 |
|
|
|
Plant and machinery written off |
0.153 |
0.007 |
0.533 |
|
|
|
Increase / decrease in stock |
2.412 |
(1.949) |
1.862 |
|
|
|
TOTAL (B) |
627.287 |
478.516 |
458.465 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
216.482 |
145.815 |
99.799 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.462 |
10.467 |
12.908 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
202.020 |
135.348 |
86.891 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.750 |
22.203 |
18.902 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
168.270 |
113.145 |
67.989 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
50.270 |
32.927 |
4.790 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
118.000 |
80.218 |
63.199 |
|
|
|
|
|
|
|
|
|
Add |
Reversal of
Deferred Tax |
0.373 |
0.000 |
8.465 |
|
|
|
|
|
|
|
|
|
Add |
Prior Year
Income Tax Adjustment |
0.000 |
3.673 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.569 |
0.076 |
0.348 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
114.500 |
80.000 |
69.500 |
|
|
|
Proposed Dividend |
3.562 |
2.850 |
2.137 |
|
|
|
Tax on Corporate Dividend |
0.605 |
0.548 |
0.299 |
|
|
BALANCE CARRIED
TO THE B/S |
0.275 |
0.569 |
0.076 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
2.040 |
3.205 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
303.903 |
254.213 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
82.81 |
58.87 |
44.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
13.98
|
12.85 |
11.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.19
|
18.33 |
12.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.74
|
24.74 |
23.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
0.42 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.67
|
0.78 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.81
|
1.94 |
3.55 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
OPERATIONAL REVIEW:
This year the
production of Copper Phthalocyanine Crude(CPC) Blue in Unit-I has been 1242
tones compared to 1446 tones during the last year and the production of
De-hydro Copper Complex of Phthalocyanine (DHCCP) Blue in Unit-II has been 2543
tones as compared to 2176.75 tones during the last financial year. Efforts are
being made to standardize CPC in order to make it suitable for applications
where presently DHCCP is being used this will help in streamlining the
operations of the company. The company's net profit continued its upward trend
and was equivalent to Rs.118.000 Millions compared to Rs.80.217 Millions. Their
continuous efforts in quality up gradation and cost reduction ensured that they
could continue to improve upon their operating margins. The company has further
increased its customer base also.
FUTURE OUTLOOK:
The use of organic
pigments will continue to increase globally and the market conditions should
continue to be good. Therefore the outlook for next year remains positive. They
plan to increase their production capacity marginally in the next financial
year.
EXPORTS:
They are pleased
to inform you that the company has maintained the upward trend in exports this year
also. The total exports/deemed exports this year were to the tune of Rs.571.388
Millions compared to Rs.410.201 Millions in the previous year, recording an
increase of 39%. Exports accounted for 72% of the total revenues this year. The
company was able to secure repeat orders from reputed customers regularly.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10040074 |
|
Corporate
identity number of the company |
U74899DL1993PTC055513 |
|
Name of the
company |
BHABANI PIGMENTS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-30, Block B-1, 3rd Floor, Mohan Co Operative Industrial
Estate, Mathura Road, New Delhi-110044, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge Immovable
Property Any interest in
Immovable Property Others |
|
Particular of
charge holder |
State Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Arrangement letter
mcgrm/ys/2009-10/757 dated 20.03.10 Board resolution
dated 20.03.2010 C1 agreement of
loan for overall limit dated 10.04.10 C2 agreement of
hypothecation of goods and assets
dated 10.04.10 C4 deed of
guarantee tee for overall limit dated 10.04.10(Amrit Lal Garg, Anant Kanoi)
Golden pigments Private Limited C5 letter
regarding grant of individual limits within overall limit dated 10.04.10 Consent
clause(borrowers and guarantors) dated
10.04.10 RBI Declaration,
Misc. Undertakings dated 10.04.10 Link letter dated
10.04.10 |
|
Date of
instrument Creating the charge |
20.03.2010 |
|
Amount secured by
the charge |
Rs.186.700
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest On cc
(hypothecation of stocks)- SBAR effective rate 11.75% p.a. Interest On t/l :
SBAR effective rate 11.75% p.a. Interest On SLC (WC) -
1% above cc interest rate Terms of Repayment Term loan I- The
term loan will be repaid in 36 monthly installments
w.e.f April 10 the first 35
installments of Rs. 1.208 Millions
each and the last and the 36th installment of Rs. 1.220 Millions. Margin Rm-25% Stocks in
process- 25% Finished goods
-25% Receivables
(cover period 90days)- 30% Letter of credit
(avg. Usance 60 days an maxi. Usance 90 days)-10% Bank guarantee
-10% Term loan
(new)-50% Extent and Operation of the charge primary: Hypothecation of
stock of raw material, work in progress, stores and spares, finished goods
including G-I-T, all present and future book debs and S and R’bles i) EM – l and
b at Khewat 21/20, Mauza Ziaudeen Pur, Kharkhoda, Haryana ii) EM -land
survey 88/3,Taluka Sakri, Dhule, Maharashtra iii) EM of land
at SF 73/1(p) Taluka Tiupur, COLL: EM of land at
Khewat 21/20, Mauza Ziaudeen Pur, Kharkhoda, Hr, of Golden Pigments p l(sale
deed-850 dated 04.02.1994, ,630 dated 29.10.1993 and 4 22 dated 07.06.1994) Others Personal G'tee-
Amrit Lal Garg, Anant Kanoi (directors) Corporate G'tee -
Golden Pigments Private Limited SBI: Total
exposure-186.700 Millions. Cc( hypothecation
of stocks)-30.000 Millions, Cc(book debts)
-50.000 Millions TL(existing)-25.200
Millions TL (New)-43.500
Millions BG-03.000
Millions LC-20.000
Millions SLC(WC)- 15.000
Millions |
|
Short particulars
of the property charged |
Hypothecation of
stock of raw material, work in progress, stores and spares, finished goods
including G-I-T, all present and future book debs and S and R’bles. (value of
CA’s as on 31.03.2009 (AUD) is Rs. 105.700 Millions) 1st charge on
TFAS of the company (W.D.V.: Rs. 110.200 Millions as at 31.03.09) I)
EM of
l and b 2.50 acr at Khewat 21/20,
Mauza Ziaudeen Pur, Kharkhoda, Haryana II)
EM of
land survey 88/3(k-282), Kaltek Sakri, Dhule ( III)
EM of
land at Sf 73/1 (p) village Kallipalayan, Taluka Tiupur , Palladum, District
Coimbatore, Tamilnadu.(proposed) IV)
EM of
land at Khewat 21/20, Mauza Ziaudeen
Pur, Kharkhoda, Sonepat ,hr, of Golden Pigments Private Limited measuring
5-87 acre or 28410 sq. yds. V)
Extension
of charge on total fixed assets of the company(residual value= Rs.
149.500 Millions) |
|
Date of latest
modification prior to the present modification |
08.09.2009 |
|
Particulars of
the present modification |
Extension of charge
over increased limits of Rs. 186.700 Millions. |
FIXED
ASSETS
Ø
Ø
Ø
Ø
Ø
Buildings and Roads
Ø
Buildings for Wind Mill
Ø
Plant and Machinery
Ø
Wind Mill Machinery
Ø
Furniture and Fixtures and Equipments
Ø
Vehicle
WEB SITE DETAILS
PROFILE
Subject commenced production in 1995 with prime objective to
satisfy, through quality conscious production methods, the need of a
professional company to manufacture and supply Phthalocyanine pigments to all
its end users. Today, they are one of the most prominent pigment manufacturers
in India supplying to industries which include printing inks, paints, plastics,
rubber etc. Owing to their strong export performance over the years, the
Government of India has accorded us with the status of a 'Star Export House'.
Subject is an ISO:9001 certified company and has been
awarded the accreditation by TUV Rheinland. They are committed to maintain and to
continuously improve our high quality standards and systems at all levels of
the company.
The ethos of the company is to continuously strive to increase
efficiency and to innovate. They emphasize and encourage the need to build long
term supplier relationships by working with their customers to understand and
fulfill their needs. Their success is based on their ability to implement our
philosophy and their readiness to adapt to the ever changing market
environment.
Subject is a subsidiary of a group which has other business
interests in the areas of Tea, Education, Energy and Real Estate.
Company Growth
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] 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.56.42 |
|
|
1 |
Rs.88.45 |
|
Euro |
1 |
Rs.71.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
YES |
|
--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.