|
Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
ATHENE CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5, Shiv Ganesh Bunglows, Part – II, Near Madhuram Plot, Thaltej-Shilaj
100 Road, Thaltej, Ahmedabad – 380059, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
03.09.2011 |
|
|
|
|
Com. Reg. No.: |
04-066997 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100GJ2011PTC066997 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Chemicals, Pharmaceuticals and Laboratory
Chemicals |
|
|
|
|
No. of Employees
: |
40 (Approximately) [In Office] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6000 |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company establishing itself gradually. The
company expects a sizeable turnover from its first year of operation. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Virendra Bharat Pandey |
|
Designation : |
Director |
|
Contact No.: |
91-8980000631 |
|
Date : |
18.10.2012 |
LOCATIONS
|
Registered Office : |
5, Shiv Ganesh Bunglows, Part – II, Near Madhuram Plot, Thaltej-Shilaj
100 Road, Thaltej, Ahmedabad – 380059, Gujarat, India |
|
Tel. No.: |
91-2764-232220 |
|
Mobile No.: |
91-8980000631 (Mr. Virendra Bharat Pandey) 91-8980280808 (Mr. Rutul Patel) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 832, Opposite Ganesh Rubber Industry, Santej, Ahmedabad -
380059, Gujarat, India |
|
Email : |
|
|
Website : |
DIRECTORS
As on: 02.09.2011
|
Name : |
Mr. Vijaykumar Baldevbhai Patel |
|
Designation : |
Director |
|
Address : |
J/403, Abhishek Appartment, B/h. Vyaswadi, Opposite Ganesh Vidhyalay, New
Wadaj, Ahmedabad – 380013, Gujarat, India |
|
Date of Birth/Age : |
12.11.1985 |
|
Date of Appointment : |
03.09.2011 |
|
DIN No.: |
03606111 |
|
|
|
|
Name : |
Mr. Virendra Bharat Pandya |
|
Designation : |
Director |
|
Date of Birth/Age : |
25 Years |
|
|
|
|
Name : |
Mr. Rutul Sureshbhai Patel |
|
Designation : |
Director |
|
Address : |
B/1, Chandrapuri Appartment, Behind Vastrapuri Government Colony,
Vastrapur, Ahmedabad – 380052, Gujarat, India |
|
Date of Birth/Age : |
07.07.1987 |
|
Date of Appointment : |
03.09.2011 |
|
DIN No.: |
03603410 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 02.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Kumar Baldevbhai Patel |
|
4000 |
|
Rutul Sureshbhai Patel |
|
6000 |
|
|
|
|
|
Total |
|
10000 |
As on 14.07.2012
|
Names of Allottee |
|
No. of Shares Allotted |
|
Vijay Kumar Baldevbhai Patel |
|
29000 |
|
Rutul Sureshbhai Patel |
|
16000 |
|
Suresh Keshavlal Patel |
|
20000 |
|
Gaurang Sureshbhai Patel |
|
20000 |
|
Jashodaben Sureshbhai Patel |
|
25000 |
|
Virendra Bharat Pandya |
|
20000 |
|
Hemant Baldevlal Jani |
|
10000 |
|
|
|
|
|
Total |
|
140000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Chemicals, Pharmaceuticals and Laboratory
Chemicals |
|
|
|
|
Products : |
·
Active Pharmaceuticals Chemicals ·
Active Pharmaceuticals Ingredients |
|
|
|
|
Exports : |
|
|
Products : |
·
Active Pharmaceuticals Chemicals ·
Active Pharmaceuticals Ingredients |
|
Countries : |
·
South Africa ·
Australia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
China ·
Taiwan |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
End Users ·
OEM’s |
|
|
|
|
No. of Employees : |
40 (Approximately) [In Office] |
|
|
|
|
Bankers : |
The Kalupur Commercial Co-operative Bank Limited, Kalupur Bank Bhavan, Near. Income Tax Circle, Ashram Road,, Ahmedabad - 380014, Gujarat, India |
|
|
|
|
Facilities : |
·
Cash Credit of Rs. 3.000 Millions (From Kalupur
Commercial Co-operative Bank Limited) ·
Term Loan of Rs. 3.000 Millions (From Kalupur Commercial
Co-operative Bank Limited) |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs. 1.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs. 1.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
80.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs. 120.000 Millions (Approximately)
The above information has been parted by Mr. Virendra Bharat Pandey
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one years |
Yes |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U24100GJ2011PTC066997 |
|
Name of the
company |
ATHENE CHEMICALS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
5, Shiv Ganesh Bunglows, Part – II, Near Madhuram Plot, Thaltej-Shilaj
100 Road, Thaltej, Ahmedabad – 380059, Gujarat, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property (not being pledge) Others |
|
Particular of
charge holder |
The Kalupur Commercial Co-operative Bank Limited, Kalupur Bank Bhavan, Near. Income Tax Circle, Ashram Road,, Ahmedabad - 380014, Gujarat, India |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Machinery |
|
Date of
instrument Creating the charge |
12.07.2012 |
|
Amount secured by
the charge |
Rs. 3.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 13% Per Annum. Terms of repayment Monthly Installments of Rs. 0.055 Millions 54 months starting from 1st February 2013. Margin 30% Extent and
operation of the charge The Bank has first and exclusive charge on machinery of the company till repayment of credit facilities extended by bank to the company. |
|
Short particulars
of the property charged |
All Machineries owned by the company being and lying At Plot No 1505 GIDC, Chhatral, Ta-Kalol, District Mehshana. |
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 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. 53.63 |
|
|
1 |
Rs. 86.18 |
|
Euro |
1 |
Rs. 69.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLP |
|
|
|
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
NO |
|
--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 |
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.