|
Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
NEXUS PETROCHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
402, Heritage Plaza, Telli Galli, Cross Lane, R S Maharaj Marg,
Andheri (East), Mumbai – 400069, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
18.10.2010 |
|
|
|
|
Com. Reg. No.: |
11-209085 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2010PTC209085 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Plastic Raw Materials, Speciality Chemicals. |
|
|
|
|
No. of Employees
: |
24 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of Nexus Petrochem a proprietory concern
started in 2005. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Nilesh |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-22-26825370 |
|
Date : |
01.03.2012 |
LOCATIONS
|
Registered Office : |
402, Heritage Plaza, Telli Galli, Cross Lane, R S Maharaj Marg,
Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-26825370/ 71/ 72 |
|
Fax No.: |
91-22-26825830 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Located at: ·
Bhiwandi |
|
Location : |
Owned |
DIRECTORS
As on 08.10.2010
|
Name : |
Mr. Nandan Himatlal Valia |
|
Designation : |
Director |
|
Address : |
54, Presidency Society,7th Road, JVPD Scheme, Parle (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1974 |
|
Date of Appointment : |
18.10.2010 |
|
DIN No.: |
03135330 |
|
|
|
|
Name : |
Mrs. Hetal Nandan Valia |
|
Designation : |
Director |
|
Address : |
54, Presidency Society,7th Road, JVPD Scheme, Parle (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1974 |
|
Date of Appointment : |
18.10.2010 |
|
DIN No.: |
03187031 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.10.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Nandan Himatlal Valia |
|
9000 |
|
Hetal Nandan Valia |
|
1000 |
|
Total |
|
10000 |
As on 08.10.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Plastic Raw Materials, Speciality Chemicals. |
|
|
|
|
Exports : |
|
|
Products : |
·
Plastic Raw Materials ·
Agro-Chemical |
|
Countries : |
·
China ·
|
|
|
|
|
Imports : |
|
|
Products : |
Plastic Raw Materials |
|
Countries : |
·
·
Singapore ·
France ·
Japan |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
24 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of India, P M Road Branch, Mumbai,
Maharashtra, India ·
Yes Bank, 9th Floor, Nehru Centre, Discovery of India,
Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India |
|
|
|
|
Facilities : |
Letter on Credit : Rs. 10.000 Millions (From Yes Bank) |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. P. Bhandari and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Tel. No.: |
|
|
Auditors : |
|
|
Name : |
M M Nishin and Company Chartered Accountants |
|
Address : |
Worli, Mumbai, Maharashtra, India |
|
|
|
|
|
|
|
Sister Concern : |
Associates Brothers Address : Andheri (East),
Mumbai, Maharashtra, India Line of Business
: (Trader of Chemicals) |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Available
Note: The company was a
Proprietorship Company in 2005 and now its is a Private Limited Company since
18.10.2010 but, still woking as a Proprietorship Company.
The above information has been parted by Mr. Nilesh.
NEXUS
PETROCHEM
(PROPRIETOR:
MR. NANDAN HIMATLAL VALIA)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
7.539 |
4.914 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
7.539 |
4.914 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.976 |
3.251 |
|
|
2] Unsecured Loans |
|
9.803 |
7.119 |
|
|
TOTAL BORROWING |
|
10.779 |
10.370 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
18.318 |
15.284 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.158 |
2.118 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
24.018 |
9.924 |
|
|
Sundry Debtors |
|
60.036 |
34.213 |
|
|
Cash & Bank Balances |
|
2.466 |
3.020 |
|
|
Other Current Assets |
|
3.157 |
1.370 |
|
|
Loans & Advances |
|
2.885 |
3.529 |
|
Total
Current Assets |
|
92.562 |
52.056 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
73.829 |
38.720 |
|
|
Other Current Liabilities |
|
2.573 |
0.170 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
76.402 |
38.890 |
|
|
Net Current Assets |
|
16.160 |
13.166 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
18.318 |
15.284 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
421.252 |
263.105 |
|
|
|
Other Income |
|
11.805 |
9.080 |
|
|
|
TOTAL |
|
433.057 |
272.185 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
|
425.697 |
252.098 |
|
|
|
Office Administration Expenses |
|
2.767 |
2.492 |
|
|
|
Employee Remuneration and Benefits |
|
0.667 |
0.372 |
|
|
|
Selling and Distribution Expenses
|
|
6.923 |
4.463 |
|
|
|
(Increase)/Decrease in Stock |
|
(14.094) |
3.153 |
|
|
|
TOTAL |
|
421.960 |
262.578 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
11.097 |
9.607 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
2.650 |
2.784 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
8.447 |
6.823 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
1.95 |
2.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
2.01 |
2.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
8.92 |
12.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.12 |
1.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
11.56 |
10.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.21 |
1.34 |
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 |
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% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
Yes |
|
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 |
-- |
|
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
|
Corporate
identity number of the company |
U74900MH2010PTC209085 |
|
Name of the
company |
NEXUS PETROCHEM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
402, Heritage Plaza, Telli Galli, Cross Lane, R S Maharaj Marg,
Andheri (East), Mumbai – 400069, Maharashtra, India E-Mail : amittrivedics@gmail.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Yes Bank, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie
Besant Road, Worli,, Mumbai - 400018, Maharashtra, India E-mail : dlbbcadmum@yesbank.in
|
|
Nature of
instrument creating charge |
Deed of
Hypothecation for exclusive charge on all Current Assets and Fixed assets of
the company both present & future |
|
Date of
instrument Creating the charge |
31.12.2011 |
|
Amount secured by
the charge |
Rs.40.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest LC(S/U)-1% p.a.
payable upfrnt BC(LUT/LOU)(S.L. of
LC)-1.5% p.a. payable upfront BG(S.L. of
LC)-NIL CC-YBLBR+2.75%,EROI
13.25% p.a. LC-II(S/U)(S.L.
of CC)-1% p.a. payable upfrnt inclusive of all charges. Terms of
Repayment LC(S/U) - Sight
LC: Validity: 60 days, Usance LC: Usance : 90 days Validity : 60 days BC(LUT/LOU)(sub
limit of LC) - 90 days BG(sub limit of
LC) - 6 months including claim period.
CC - Repyable on
Demand LC-II(S/U)(sub
limit of CC) - Sight LC: Validity: 60 days, Usance LC: Usance : 90 days Validity : 60 days Margin Cash Credit - 25% Extent and
Operation of the charge Exclusive charge
on all Current Assets and Fixed Assets of the company both present and future |
|
Short particulars
of the property or asset(s) charged (including complete address and location of
the property) |
Exclusive charge
on all Current Assets and Fixed Assets of the company both present and future |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.15 |
|
|
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.57 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--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.