MIRA
INFORM REPORT
|
Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
KRIBHCO SHYAM FERTILIZERS LIMITED |
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Registered
Office : |
C – 165, 1st Floor, Naraina Industrial Area, Phase – I, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
08.12.2005 |
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Com. Reg. No.: |
55-143452 |
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Capital
Investment / Paid-up Capital : |
Rs.8000.571 millions |
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CIN No.: [Company Identification
No.] |
U24121DL2005PLC143452 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELK07642F |
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PAN No.: [Permanent Account No.] |
AACCK6999B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in Manufacturing of Ammonia and Urea. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 27000000 |
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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. It has
recorded some growth in its income from operation and profits during 2012. Even though there appears some accumulated losses, the financial
position seems to be good. Trade relations are reported to be decent. Business is active.
Payments are reported to be usually correct. The company can be considered normal for business dealing 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short term Loan ) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
07.11.212 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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.
LOCATIONS
|
Registered Office : |
C – 165, 1st Floor, Naraina Industrial Area, Phase – I, |
|
Tel. No.: |
91-11-25892542 |
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Fax No.: |
91-11-25793752 |
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E-Mail : |
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Website : |
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Corporate Office : |
Kribhco Bhawan, A -10, Sector – 1, Noida – 201301, District. Gautam
Budh Nagar, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2443701 |
|
Fax No.: |
91-120-2545464 |
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|
|
|
Factory : |
Village and Post Office : Piprola, Shahjahanpur – 242001, Uttar
Pradesh, India |
|
Tel. No.: |
91-5842-240001/04 |
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Fax No.: |
91-5842-240005 |
|
E-Mail : |
DIRECTORS
As on: 31.03.2012
|
Name : |
Dr. C. P. Singh Yadav |
|
Designation : |
Director and Chairman |
|
Date of Birth/Age : |
53 Years |
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|
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|
Name : |
Mr. V. P. Kaushik |
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Designation : |
Managing Director |
|
Date of Birth/Age : |
66 Years |
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|
|
|
Name : |
Mr. V. R. Patel |
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Designation : |
Non - Executive and Non – Independent Director |
|
Date of Birth/Age : |
73 Years |
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|
|
|
Name: |
Mr. Waghji Rugnath Boda |
|
Designation : |
Non-independent Director |
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|
|
|
Name : |
Mr. B. D. Sinha |
|
Designation : |
Non - Executive and Non – Independent Director |
|
Date of Birth/Age : |
60 Years |
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|
|
|
Name : |
Mr. Alok Tandon |
|
Designation : |
Non - Executive and Non – Independent Director |
|
Date of Birth/Age : |
51 Years |
KEY EXECUTIVES
|
Name : |
Mr. O. P. Gupta |
|
Designation : |
Vice President |
|
Date of Birth/Age : |
60 Years |
|
Qualification : |
Bachelor in Chemical Engineering |
|
Experience : |
36 Years |
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|
|
|
Name : |
Mr. Bipin C. Phuloria |
|
Designation : |
Company Secretary |
|
Date of Birth/Age : |
42 Years |
|
Qualification : |
B.Com in Law and M.Com |
|
Experience : |
18 Years |
|
|
|
|
Name : |
Mr. A. K. Dixit |
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Designation : |
Senior General Manager |
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Date of Birth/Age : |
62 Years |
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Qualification : |
B. Mechanical Engineering |
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Experience : |
35 Years |
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|
|
|
Name : |
Mr. C. Vishwanathan |
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Designation : |
General Manager (Finance) |
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Date of Birth/Age : |
63 Years |
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Qualification : |
B. A. |
|
Experience : |
27 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.06.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Equity Share Capital |
|
Krishak Bharati Cooperative Limited (KRIBHCO)* |
680034286 |
85 |
|
STL Fertilizers Private Limited, India |
120022855 |
15 |
|
Shyam Basic Infrastructure Projects Private Limited, India |
2 |
0 |
|
Total |
800057143 |
100 |
* Including five shares held by individual as
nominees of KRIBHCO
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing of Ammonia and Urea. |
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Products : |
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Brand Names : |
KRIBHCO |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
and Installed Capacity |
Actual
Production |
|
Urea |
MT |
2620/Day |
1027999.850 |
|
Ammonia |
MT |
1520/Day |
607080.300 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Syndicate Bank ·
WBSCB Limited ·
Vijaya Bank ·
Axis Bank Limited ·
Union Bank ·
HDFC Bank ·
Yes Bank |
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Facilities : |
(Rs.
In Millions)
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
G. K. Choksi and Company Chartered Accountants |
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Associate
Enterprise : |
·
Krishak Bharati Co-operative Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
800057143 |
Equity Shares |
Rs.10/- each |
Rs.8000.571
Millions |
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|
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|
Note:
During the period of five financial years immediately preceeding the Balance Sheet date, the company has not:
(i) allotted any fully paidup equity shares by way of bonus shares;
(ii) allotted any equity shares pursuant to any contract without payment being received in cash;
(iii) brought back any equity shares.
(c) Reconciliation of
number of shares
|
Particulars |
Number of Equity
Shares |
|
|
31.03.2012 |
|
At the beginning of
the year |
8,00,057,143 |
|
Shares issued for Cash or Right Issue or Bonus |
0.000 |
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Exercise of Share Option under ESOS / ESOP |
0.000 |
|
Shares issued in Business Combination |
0.000 |
|
Less Shares bought back / Redemption etc. |
0.000 |
|
At the end of the
Year |
8,00,057,143 |
(d) Rights,
Preferences and Restrictions
The authorised share capital of the Company has only one class of shares referred to as ‘equity shares’ having a par value of ` 10/- each. The rights and privileges to equity shareholders are general in nature and defined under the Articles of Association of the Company and as allowed under Companies Act, 1956.
The equity
shareholders shall have:
(i) right to vote in shareholder’s meeting. Where voting is to be made on a show of hands, every member present in person and holder of equity share, shall have one vote and in case of poll, the voting rights shall be in proportion to the shares in the paid up capital of the Company;
(ii) right to receive dividend in proportion to the amount of capital paid up on the shares held.
The shareholders are not entitled to exercise any voting right either personally or proxy at any meeting of the Company in cases calls or other sums payable have not been paid. If the Company shall be wound up the distribution of available assets/losses to the equity shareholders shall be in proportion to the paid up capital.
(e) Details of
Shareholdings
|
Particulars |
Number of Equity Shares |
|
|
|
31.03.2012 |
Rs. In millions |
|
Krishak Bharati Coop. Limited |
680,034,286 |
6800.343 |
Shareholders holding
more than 5% shares
|
Particulars |
Number of Equity Shares |
||
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|
31.03.2012 |
Rs. In millions |
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|
Particulars |
Number of Equity Shares |
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|
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|
31.03.2012 |
% of Holdings |
|
|
Krishak Bharati Coop. Limited |
680,034,286 |
85 |
|
|
STL Fertilizers Private Limited |
120,022,855 |
15 |
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8000.571 |
8000.571 |
8000.571 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(1201.885) |
(1436.680) |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(1511.748) |
|
|
NETWORTH |
6798.686 |
6563.891 |
6488.823 |
|
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LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2888.000 |
7327.343 |
12781.192 |
|
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2] Unsecured Loans |
6726.404 |
3923.575 |
650.000 |
|
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TOTAL BORROWING |
9614.404 |
11250.918 |
13431.192 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
16413.090 |
17814.809 |
19920.015 |
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APPLICATION OF FUNDS |
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|
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|
|
|
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FIXED ASSETS [Net Block] |
15005.882 |
15553.996 |
16551.200 |
|
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Capital work-in-progress |
61.814 |
355.206 |
129.040 |
|
|
|
|
|
|
|
|
INVESTMENT |
735.000 |
1472.850 |
1525.705 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
484.698
|
384.960 |
383.836 |
|
|
Sundry Debtors |
4772.808
|
2512.263 |
1235.911 |
|
|
Cash & Bank Balances |
844.186
|
1307.137 |
157.609 |
|
|
Other Non Current Assets |
1.585
|
2.013 |
0.000 |
|
|
Other Current Assets |
11.040
|
20.820 |
21.272 |
|
|
Loans & Advances |
784.289
|
746.483 |
750.835 |
|
Total
Current Assets |
6898.606
|
4973.676 |
2549.463 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
542.583
|
445.532 |
510.408 |
|
|
Other Current Liabilities |
5570.983
|
3999.968 |
264.142 |
|
|
Provisions |
174.646
|
95.419 |
60.843 |
|
Total
Current Liabilities |
6288.212
|
4540.919 |
835.393 |
|
|
Net Current Assets |
610.394
|
432.757 |
1714.070 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16413.090 |
17814.809 |
19920.015 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
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|
SALES |
|
|
|
|
|
|
|
Income |
12655.552 |
10840.782 |
9251.975 |
|
|
|
Other Income |
115.012 |
136.635 |
137.350 |
|
|
|
TOTAL (A) |
12770.564 |
10977.417 |
9389.325 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
8317.354 |
|
|
|
|
|
Changes in inventories |
(82.702) |
(8.421) |
|
|
|
|
Employee benefits expenses |
389.693 |
283.870 |
|
|
|
|
Manufacturing and other expenses |
1442.173 |
1376.627 |
|
|
|
|
Prior period adjustments |
(4.419) |
(1.353) |
|
|
\ |
|
TOTAL (B) |
10062.099 |
8844.506 |
7447.716 |
|
|
|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2708.465 |
2132.911 |
1941.609 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1285.624 |
922.887 |
1100.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1422.841 |
1210.024 |
841.324 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1126.336 |
1130.954 |
1123.505 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
296.505 |
79.070 |
(282.181) |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
61.710 |
4.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
234.795 |
75.070 |
(282.181) |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1436.678) |
(1511.748) |
(326.299) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1201.883) |
(1436.678) |
(1511.748) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2.364 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
2.364 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
17.275 |
23.981 |
0.000 |
|
|
|
Stores & Spares |
14.597 |
9.854 |
20.690 |
|
|
TOTAL IMPORTS |
31.872 |
33.835 |
20.690 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.29 |
0.09 |
(0.39) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.84 |
0.68 |
3.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.34 |
0.73 |
(3.04) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.35 |
0.38 |
(1.47) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.01 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.34 |
2.40 |
2.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.10 |
3.05 |
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 |
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
PERFORMANCE HIGHLIGHTS
During the year 2011-12, the production performance of the Shahjahanpur Plant of the Company was very good keeping in view the fact that a shutdown of plant was taken in Mar-Apr 11 to carry-out the plant modification jobs and also planned maintenance activities. After completion of the shutdown, there has been marked improvement in the performance of the plant. The Urea production of the Company was 10.19 Lac MT with capacity utilization of 117.86%, and Ammonia production was 6.18 Lac MT with capacity utilization of 123.20%. The energy consumption was also low with 5.589 Gcal/MT for Urea and 7.878 Gcal/MT for Ammonia production. The Ammonia plant achieved an uninterrupted continuous run of 333.47 days which is the highest ever achieved. The Ammonia production in the year was also the highest ever achieved. Neem-coated Urea production commenced from August, 2011 and a total of 2, 02,255 MT of neemcoated Urea was produced during the year.
The Company has crossed the “cut-off” level of 9,09,810 MT and “qualifying” production level of 9,55,301 MT of Urea fixed by Department of Fertilizer, Government of India, thus making it eligible for Import Parity Price (IPP) Scheme. The entire production beyond the “cut-off” level amounting to 1, 09,199 MT qualified for pricing under the IPP. During the year, the Company achieved excellent performance in its dispatch and sales operations. With the sincere efforts made by KRIBHCO’s marketing department, 10.16 Lac MT Urea was dispatched out of which 10.12 Lac MT Urea was sold. The Company has received all payments for sale of Urea and there were no pending receivables from the sales channel at the end of year
PERFORMANCE AWARDS
During the year, the Company has been recognized and awarded by two different forums during December, 2011 for its excellent performance. Firstly, the Fertilizer Association of India (FAI) in its annual meet held on 12.12.2011 has given to the Company “Award for improvement in overall performance of the Company”. FAI is a national representative body of all the fertilizer manufacturers in India comprising public, private, joint and cooperative sectors. Secondly the Government of India has awarded a “Certificate of Merit” on the Energy Conservation Day on 14.12.2011 in appreciation of their efforts in Energy Conservation in the fertilizer sector for the year 2011.
The auditors a certificate to this effect that their re-appointment, if made, would be within the prescribed limit Under Section 224 (1B) of the Companies Act, 1956. The Board of Directors recommends their re-appointment. The notes to the accounts in Auditors Report are self explanatory and therefore, do not call for any further comments.
FUTURE OUTLOOK
For FY 2012-13, outlook is very positive and the Company has targeted to surpass all its previous of production and energy consumption. To achieve these targets, a comprehensive Performance Plan has been prepared which sets performance parameters and targets for each and every department and section.
CONTINGENT
LIABILITIES:
A. Contingent
Liabilities not provided for in respect of:
(Rs. In millions)
|
Particulars |
2011-2012 |
2010-2011 |
|
Letter of credits |
668.892 |
612.978 |
|
Disputed Trade Tax Matters |
129.673 |
98.117 |
|
Stamp Duty on Mortgage |
1900.000 |
1900.000 |
|
Income Tax demand notice |
377.400 |
382.000 |
FIXED ASSETS:
· Leasehold land and Site Development
· Building
· Factory Building
· Non Factory Building
· Plant and Machinery
· Capital Spares
· Furniture and Fixture
· Office Equipments
· Computer
· Vehicle
AS PER WEBSITES DETAILS:
BOARD OF DIRECTORS
Dr. C. P. Singh Yadav, (53), is the Director and Chairman of our Company since inception i.e. December 2005. He is also the Vice-Chairman of KRIBHCO. He holds Bachelor’s degree in Education and Law, Master’s degree in Science and Doctorate in Philosophy from Bundelkhand University. He has more than 33 years of experience as Agriculturalist and Co-operator. Earlier he was the Chairman of UP Cooperative Marketing Federation and Bundelkhand Vikas Nigam.
Mr. V. P. Kaushik, (66), is the Managing Director of our Company since May, 2007. He holds a Bachelor’s degree in Mechanical Engineering from the Institute of Technology, Benaras Hindu University and Master’s degree in Business Administration from the Faculty of Management Studies, University of Delhi. He has over 46 years’ experience in corporate management and fertilizer industry. Prior to joining us he has held CEO position for 13 years including Managing Director, Duncans Industries Limited and Director General, Fertilizers Association of India.
Mr. Waghji Rugnath Boda, (73), is a non-executive and non-independent Director of our Company since July, 2010. He is Chairman of KRIBHCO. He also holds position of Managing Director of Rajkot District Cooperative Bank, Chairman of Lakhdhirgadh Jal Sinchan Seva Sahakari Mandali Ltd, Director of Gujarat State Cooperative Marketing Federation and Vice Chairman of NAFED. Mr. Waghji Rugnath Boda has been recipient of several awards and honours for his outstanding contribution to Cooperative Sector.
Mr. B.D. Sinha, (60), is a non-executive and non-Independent Director of our Company since December, 2005. He is also the Managing Director of KRIBHCO. He holds a Bachelor’s and a Master’s degree in Arts from University of Patna. He has over 33 years of experience in Finance and Taxation. Earlier he worked in various capacities in the Income Tax Department and Ministry of Finance.
Mr. Alok Tandon, (51), is a non-executive and non-Independent Director of our Company since December, 2005. He holds a Bachelor’s degree in Commerce from University of Delhi and is a member of the Institute of Chartered Accountant of India.He is an entrepreneur having 20 years experience in finance. He specializes in the telecom industry. He is a Managing Director of Shyam Telecom Limited.
KEY
MANAGERIAL PERSONNELS
Mr. O.P.Gupta, Vice President (Works) is the Head of Works at
Shahjahanpur since September, 2007. He holds a Bachelor’s degree in Chemical
Engineering from the Indian Institute of Technology, Kanpur and Diploma
in Management from AIMA, New Delhi. He has over 35 years of experience in the
fertilizer sector. Earlier he was associated with National Fertilizer Limited.
He is responsible for plant operations (unit head) of their fertilizer
plant.
Mr. Bipin C. Phuloria, is the Company Secretary of their Company since
February, 2007. He is a member of the Institute of Company Secretary of India
and holds a bachelor degree in Law from the University of Allahabad (UTTAR
PRADESH) and a master degree in Commerce from the Kakatiya University (ANDHRA
PRADESH). He has over 17 years of experience in dealing with Legal and
Secretarial matters. Earlier he was associated with Bright point India Private
Limited as Legal Manager. He is responsible for secretarial and legal matters.
Mr. A. K. Dixit, is the Sr. General Manager at Shahjahanpur since
November, 2007. He holds a Bachelor’s degree in Mechanical Engineering from the
Aligarh Muslim University, Aligarh. He has over 34 years of experience in the
fertilizer sector. Earlier he was associated with Brahamputra Valley
Fertilizers Corporation Limited (BVFCL). He is currently responsible for
engineering functions of the fertilizer plant.
Mr.
C.Vishwanathan, is General Manager (Finance) of Kribhco Shyam Fertilizer
Limited (KSFL) since 3rd March 2010. He holds a Bachelor’s degree in Arts from
University of Madras and is a chartered account. Further, he had acquired
Diploma in Information System Audit from ICAI, New Delhi. He worked in KRIBHCO
for 26 years and retired as Chief General Manager (F and A).
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.55.34 |
|
|
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
46 |
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.