MIRA
INFORM REPORT
|
Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GALAXY SURFACTANTS LIMITED (w.e.f.13.03.2005) |
|
|
|
|
Formally Known: |
GALAXY SURFACTANTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
C-49/2, TTC
Industrial Area, Pawane, Navi Mumbai - 400 703, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 [Profit and Loss A/C] |
|
|
|
|
Date of Incorporation : |
20.05.1986 |
|
|
|
|
Com. Reg. No.: |
11-039877 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.177.274 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U39877MH1986PLC039877 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG00044C MUMG00440G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACG1539P |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is
engaged in Manufacturing and Marketing Surfactants and Specialty Chemicals for
the Personal and Home Care Industry. |
|
|
|
|
No. of Employees: |
Above 1000 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8090000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Balance sheet statement for the year 2012 is not available. As per profit and
loss statement for 2012, there seems some dip in the profitability of the
company. However, general financial position of the company is good. 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 normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A – [Long Term] |
|
Rating Explanation |
Adequate degree of safety it carry low credit risk. |
|
Date |
15.11.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2+ [Short Term] |
|
Rating Explanation |
Strong degree of safety it carry low credit risk. |
|
Date |
15.11.2012 |
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 [GENERAL DETAILS]
|
Name : |
Mrs. Vaidya |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-27616666 |
|
Date : |
24.04.2013 |
LOCATIONS
|
Registered / Head/ Corporate
Office : |
C-49/2, TTC
Industrial Area, Pawane, Navi Mumbai - 400 703, Maharashtra, India |
|
Tel. No.: |
91-22-27616666 /
65134444 |
|
Fax No.: |
91-22-27615883 /
27615886 /27686523 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
W-67 (B), MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
|
|
|
|
Factory 2 : |
M-3, MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
|
|
|
|
Factory 3 : |
W-44(C), MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
|
|
|
|
Factory 4 : |
G - 59, MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
|
|
|
|
Factory 5 : |
N-46/1 and 2,
MIDC, Tarapur, Post Boisar – 401 506, Thane, |
|
|
|
|
Factory 6 : |
V-23, MIDC, Taloja,
Panvel - 410 208, District Raigad, |
|
|
|
|
Factory 7 : |
Plot No. 1, Village Chal, CIBCO, Near M.I.D.C. Taloja, Panvel,
District Raigad-410 208, Maharashtra, India |
|
|
|
|
Branch Office : |
Gate No. 6, C-40,
Phase –11, Okhla Industrial Area, New Delhi – 110 020, India |
|
Tel. No.: |
91-11-26914581 /
26916632 / 26916636 |
|
Fax No.: |
91-11-26914581 |
|
E-mail : |
|
|
|
|
|
US Office: |
|
|
Tel. No.: |
201 750 1055 x 226 |
|
Fax No.: |
201 750 1012 |
|
E-mail : |
|
|
|
|
|
Sales Deposit
Office : |
|
|
|
|
|
Asia Pacific
Regional Office: |
4125, Level 41, United Center, 323, |
|
Tel. No.: |
662-631 0420 |
|
Fax No.: |
662-213 3081 |
|
Mobile No.: |
668-1913 2844 |
|
E-mail : |
DIRECTORS
AS ON 03.08.2012
|
Name : |
Mr. Ravindranath
Shekar Warriar |
|
Designation : |
Chairman cum Managing
Director |
|
Address : |
Planet Godrej,
Tower 3, Floor 30, Keshavrao Khadye Marg, Near Jacob Circle, Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
20.04.1947 |
|
Date of Appointment : |
29.06.2007 |
|
DIN No. : |
00011680 |
|
|
|
|
Name : |
Mr. Shekhar Unnathan Vaidyanathan |
|
Designation : |
Managing Director
|
|
Address : |
Saradha Niwas,
Plot No 53, Sector 28, Vashi, Navi Mumbai – 400703, |
|
Date of Birth/Age : |
18.02.1954 |
|
Qualification : |
B. Chemical
Engineer |
|
Date of Appointment : |
20.05.1986 |
|
DIN No.: |
00265017 |
|
|
|
|
Name : |
Mr. Gopalkrishnan
Ramakrishnan |
|
Designation : |
Whole Time
Director |
|
Address : |
Raaj, Plot No.
51, Sector 28, Vashi, Navi Mumbai – 400703, |
|
Date of Birth/Age : |
26.05.1954 |
|
Qualification : |
M. Com, FCA,
F.I.C.W.A., A.C.S. |
|
Date of Appointment : |
20.05.1986 |
|
DIN No.: |
00264760 |
|
|
|
|
Name : |
Mr. Shashikant
Rayappa Shanbhag |
|
Designation : |
Whole Time
Director |
|
Address : |
501, Tirupati,
Plot No. 32, Sector 19, Nerul, Navi Mumbai – 400706, |
|
Date of Birth/Age : |
25.01.1954 |
|
Qualification : |
B. Com, A.C.A,
C.W.A. |
|
Date of Appointment : |
20.05.1986 |
|
DIN No.: |
00265103 |
|
|
|
|
Name : |
Mr. Sudhir
Dattaram Patil |
|
Designation : |
Director |
|
Address : |
Sumati, Plot No.
4-B, Nandeep Co-op Hsg Society, Goregaon East, Mumbai – 400063, Maharashtra,
India |
|
Date of Birth/Age : |
05.09.1954 |
|
Qualification : |
B. Chemical
Engineer |
|
Date of Appointment : |
20.05.1986 |
|
DIN No.: |
00264933 |
|
|
|
|
Name : |
Mr. Uday Krishna Kamat |
|
Designation : |
Whole Time
Director |
|
Address : |
9, Ganesh Villa,
Tejpal Scheme, Road No. 2, Vile Parle (East), Mumbai – 400057, |
|
Date of Birth/Age : |
14.05.1954 |
|
Date of Appointment : |
24.10.2009 |
|
DIN No.: |
00226886 |
|
|
|
|
Name : |
Mr. Subodh
Satchitanand Nadkarni |
|
Designation : |
Director |
|
Address : |
D-32, Mangireesh,
520, |
|
Date of Birth/Age : |
02.04.1956 |
|
Date of Appointment : |
27.09.2002 |
|
DIN No. : |
00145999 |
|
|
|
|
Name : |
Mr. Venkatesh Kasturirangan |
|
Designation : |
Director |
|
Address : |
359, Frogtown Road,
New Canaan, Connecticut U.S.A 068404409 |
|
Date of Birth/Age : |
18.04.1947 |
|
Date of Appointment : |
24.09.2005 |
|
DIN No. : |
00804869 |
|
|
|
|
Name : |
Mr. Melarkode Gganesan Parameswaran |
|
Designation : |
Director |
|
Address : |
62-A, Technocrat
Co-Operative Housing Society, Veer Savarkar Marg, Prabhadevi, Mumbai –
400025, |
|
Date of Birth/Age : |
18.06.1955 |
|
Date of Appointment : |
24.09.2005 |
|
DIN No. : |
00792123 |
KEY EXECUTIVES
|
Name : |
Mr. Ganesh Madhav Kamath |
|
Designation : |
Company Secretary
|
|
Address : |
B – 103, Sai
Mandir, |
|
Date of Birth/Age : |
07.10.1957 |
|
Date of Appointment : |
10.09.2004 |
|
Pan No. : |
AADPK8335M |
|
|
|
|
Name : |
Mrs. Vaidya |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 03.08.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 03.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
6.50 |
|
Bodies
corporate |
|
1.72 |
|
Directors
or relatives of directors |
|
75.13 |
|
Other
top fifty shareholders |
|
7.98 |
|
Others
|
|
8.67 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
in Manufacturing and Marketing Surfactants and Specialty Chemicals for the
Personal and Home Care Industry. |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products : |
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Terms : |
|
||||||||||||||||
|
Selling : |
Cash and Credit |
||||||||||||||||
|
|
|
||||||||||||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Organic Surface
Active Agents / Preparations. |
MT |
147240 |
# 119210 |
|
Fatty
Alkanolamides / Fatty Acid Esters. |
MT |
8500 |
## 8500 |
|
Other Specialty
Chemicals. |
MT |
8240 |
### 5170 |
NOTES: The Installed Capacity and Production quantities
include quantities for captive consumption. The installed capacities are based
on existing product-mix and are as per the certificate given by a Director on
which the Auditors have relied, being a technical matter.
# Includes (i)
27,997 MT used for captive consumption
(ii) 597 MT
processed from third parties.
## Includes 67 MT
used for captive consumption.
### Includes 43 MT
used for captive consumption.
GENERAL INFORMATION
|
Customers : |
Others [Industries] |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Above 1000 [Approximately] |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
SBICAP Trustee Company Limited, 202, Maker Tower, ‘E’ Cuffe Parade,
Colaba, Mumbai-400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S. V. Pinge and Company Chartered Accountants |
|
Address : |
1/1, Mitrkul, |
|
Tel. No.: |
91-22-26622264 |
|
E-Mail : |
|
|
PAN No: |
AADPP9848G |
|
|
|
|
AS ON
31.03.2011: |
|
|
Direct Subsidiaries : |
·
Galaxy Chemicals Inc. ·
Galaxy Holdings ( |
|
|
|
|
Step down Subsidiaries : |
·
Galaxy Chemicals ( ·
Rainbow Holdings GmbH (w.e.f. 19th
June, 2009) ·
Tri-K Industries Inc. (w.e.f. 1st
July, 2009) ·
Maybrook Inc. (w.e.f. 1st July, 2009) |
|
|
|
|
Entities over which key management personnel [whole-time directors]
are able to exercise significant influence: |
·
Galaxy Emulsifiers Private Limited ·
Galaxy Finsec Private Limited ·
Osmania Traders Private Limited ·
Galaxy Chemicals [Partnership Firm] ·
Galaxy Estates and Holdings [Partnership Firm] ·
Galaxy Investments [Partnership Firm] ·
Shubh Estates and Properties [Partnership Firm] ·
Galaxy Surfactants Limited – Employees’ Welfare
Trust |
CAPITAL STRUCTURE
AS ON 03.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35454752 |
Equity Shares |
Rs.10/- each
|
Rs.354.547
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
177.274 |
177.274 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1847.468 |
1350.298 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2024.742 |
1527.572 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1849.698 |
1317.671 |
|
|
2] Unsecured Loans |
|
323.179 |
295.835 |
|
|
TOTAL BORROWING |
|
2172.877 |
1613.506 |
|
|
DEFERRED TAX LIABILITIES |
|
171.187 |
182.119 |
|
|
|
|
|
|
|
|
TOTAL |
|
4368.806 |
3323.197 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1911.368 |
1918.726 |
|
|
Capital work-in-progress |
|
386.132 |
74.736 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
652.683 |
428.633 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
0.000 |
0.048 |
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1250.670
|
679.589 |
|
|
Sundry Debtors |
|
1290.708
|
704.308 |
|
|
Cash & Bank Balances |
|
30.194
|
110.368 |
|
|
Other Current Assets |
|
0.053
|
0.011 |
|
|
Loans & Advances |
|
521.959
|
350.767 |
|
Total
Current Assets |
|
3093.584 |
1845.043 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
910.312
|
515.070 |
|
|
Other Current Liabilities |
|
649.281
|
333.775 |
|
|
Provisions |
|
115.368
|
95.144 |
|
Total
Current Liabilities |
|
1674.961
|
943.989 |
|
|
Net Current Assets |
|
1418.623
|
901.054 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
4368.806 |
3323.197 |
|
NOTE: Balance
sheet for the year 2012 is not available only profit and loss account is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12796.381 |
8514.566 |
5899.135 |
|
|
|
Other Income |
21.520 |
27.938 |
30.282 |
|
|
|
TOTAL (A) |
12817.901 |
8542.504 |
5929.417 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
10350.057 |
6481.459 |
|
|
|
|
Purchases of stock-in-trade |
62.451 |
50.072 |
|
|
|
|
Employee benefit expense |
446.531 |
373.981 |
5072.041 |
|
|
|
Other expenses |
949.012 |
785.422 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(204.638) |
(318.273) |
|
|
|
|
TOTAL (B) |
11603.413 |
7372.661 |
5072.041 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1214.488 |
1169.843 |
857.376 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
331.277 |
195.689 |
124.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
883.211 |
974.154 |
732.646 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
243.116 |
217.925 |
172.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
640.095 |
756.229 |
560.240 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
203.716 |
141.016 |
156.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
436.379 |
615.213 |
403.570 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
1062.292 |
780.327 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
61.600 |
40.400 |
|
|
|
Interim Dividend |
NA |
62.046 |
42.818 |
|
|
|
Proposed Dividend |
NA |
26.591 |
26.591 |
|
|
|
Dividend Distribution Tax |
NA |
14.619 |
11.796 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1512.649 |
1062.292 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
4419.578 |
3036.456 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2236.148 |
1165.346 |
|
|
|
Traded Goods |
NA |
22.280 |
22.779 |
|
|
|
Capital Goods |
NA |
25.509 |
67.251 |
|
|
|
Others |
NA |
4.124 |
17.532 |
|
|
TOTAL IMPORTS |
NA |
2288.061 |
1272.908 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
12.31 |
17.35 |
23.56 |
|
|
|
Diluted |
7.85 |
14.94 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.40
|
7.20
|
6.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.00
|
8.89
|
9.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
15.13
|
14.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.37
|
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
1.90
|
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.85
|
1.95 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
|
Sundry Creditors |
|
|
|
Creditors due small micro enterprises |
2.740 |
5.033 |
|
Creditors due others |
907.572 |
510.037 |
|
TOTAL |
910.312 |
515.070 |
|
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 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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
CORPORATE INFORMATION:
Subject is a
Public Limited Company domiciled in India and incorporated under the provisions
of the Companies Act, 1956. The Company is engaged in manufacturing and marketing
surfactants and specialty chemicals for the Personal and Home Care Industry.
The Company produces a range of vital cosmetic ingredients including active
ingredients, UV protection and functional products. The Company’s products
cater to some of the largest global brands in the FMCG sector and find
applications in skin care, hair care, oral care, body wash, sun care, household
cleaners and fabric care segments. The Company has manufacturing facilities
located at Taloja, Tarapur (Maharashtra) and Jhagadia (Gujarat) and a depot
outlet at Delhi.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U39877MH1986PLC039877 |
|
Name of the
company |
GALAXY
SURFACTANTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-49/2, TTC
Industrial Area, Pawane, Navi Mumbai - 400 703, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Others |
|
Particular of
charge holder |
Indus-Ind Bank Limited,
Bhikaji Cama Office, 223, Somdutt Chamber II, Bhikaji Cama Palace, New
Delhi-110066, India Email: shyam.sachdeva@indusind.com |
|
Nature of description
of the instrument creating or modifying the charge |
Letter dated
04-03-2013 |
|
Date of
instrument Creating the charge |
22.02.2013 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
banks from time to time Terms of Repayment As stipulated by
banks from time to time Margin As stipulated by
banks from time to time Extent and Operation of the charge The bank shall
have first pari passu charge on entire book debts and receivables and entire
current assets and second pari passu charge on entire movable fixed assets.
(All existing and future) |
|
Short particulars
of the property charged |
All present and
future Book Debts, Claims Bills, Stock RM, WIP, FG etc. All present and
future movable Assets, P and M, furniture and fittings, equipment, computers
etc, machines Spares, tools etc. |
FIXED ASSETS:
·
Leasehold
land
·
Factory
building
·
Building
– others
·
Plant
and machinery
·
Furniture
and fixtures
·
Vehicles
·
Office
equipments
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.54.17 |
|
|
1 |
Rs.82.99 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.