1. Summary Information
|
|
|
Country |
|
|
Company Name |
REICHHOLD INDIA
PRIVATE LIMITED |
Principal Name 1 |
Mr. Alok Gupta |
|
Status |
Moderate |
Principal Name 2 |
Mr. Alberto Piccinotti |
|
|
|
Registration # |
25-132410 |
|
Street Address |
Block – A, Trade Centre, North Main Road, Koregaon Park, Pune –
411001, Maharashtra |
||
|
Established Date |
08.02.2007 |
SIC Code |
-- |
|
Telephone# |
91-20-66440000 /15/16/26150074 |
Business Style 1 |
Manufacture |
|
Fax # |
91-20-26150072 |
Business Style 2 |
Market and Sell |
|
Homepage |
Product Name 1 |
Specialty Resins for the Composites |
|
|
# of employees |
--- |
Product Name 2 |
Coatings Market |
|
Paid up capital |
Rs.
249,060,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings (FIIs, FCs, FFIs, NRIs, OCB or Others) = 100 % |
Banking |
-- |
|
Public Limited Corp. |
--- |
Business Period |
6 Years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ca (14) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
Mauritius |
Reichhold Mauritius Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
305,972,000 |
Current Liabilities |
126,284,000 |
|
Inventories |
68,662,000 |
Long-term Liabilities |
718,715,000 |
|
Fixed Assets |
587,011,000 |
Other Liabilities |
110,907,000 |
|
Deferred Assets |
00,000 |
Total Liabilities |
955,906,000 |
|
Invest& other Assets |
5,429,000 |
Retained Earnings |
(409,496,000) |
|
|
|
Net Worth |
11,168,000 |
|
Total Assets |
967,074,000 |
Total Liab. & Equity |
967,074,000 |
|
Total Assets (Previous Year) |
951,970,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
754,048,000 |
Net Profit/(Loss) |
(238,151,000) |
|
Sales(Previous yr) |
380,022,000 |
Net Profit/(Loss)
(Prev.yr) |
(119,574,000) |
MIRA
INFORM REPORT
|
Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
REICHHOLD INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Block – A, Trade Centre, North Main Road, Koregaon Park, Pune –
411001, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.02.2007 |
|
|
|
|
Com. Reg. No.: |
25-132410 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 249.060 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24132PN2007PTC132410 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNER09447E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR7123F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Market and Sell Specialty Resins for the Composites and
Coatings Market. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reichhold Group worldwide. It is an established company having a moderate track record. There
appears huge accumulated losses recorded by the company. Profitability is
under pressure. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings on a safe and
secured trade terms and condition. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the outbreak
of the global financial crisis, the world economy continues to remain fragile.
The Indian economy demonstrated remarkable resilience in the initial years of
the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood opportunities
for the millions living in poverty as also the large contingent of young people
joining the job market every year.
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. Sunil |
|
Designation : |
Maintainace Manager |
|
Contact No.: |
91-21-38675000 |
|
Date : |
03.08.2013 |
LOCATIONS
|
Registered Office : |
Block – A, Trade Centre, North Main Road, Koregaon Park, Pune –
411001, Maharashtra |
|
Tel. No.: |
91-20-66440000/15/16/26150074 |
|
Fax No.: |
91-20-26150072 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Commercial Office : |
810, “Meadows”, Sahar Plaza Complex, Andheri Kurla Road, Andheri,
Mumbai – 400 059, Maharashtra, India |
|
Tel. No.: |
91-22-42563333 |
|
Fax No.: |
91-22-42563317 |
|
|
|
|
Factory : |
F – 38, MIDC, Ranjangaon Industrial Area, Taluka – Shirur, District Pune
– 412 220, Maharashtra, India |
|
Tel. No.: |
91-21-38675000 |
|
Fax No.: |
91-20-26150074 |
|
|
|
|
Branch Office: |
Located at: ·
South Africa ·
UAE – Dubai |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Alok Gupta |
|
Designation : |
Managing Director |
|
Address : |
104, Saisyleka Apartment, Mount Pleasant Road, Malabar Hill, Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1957 |
|
Date of Appointment : |
27.06.2011 |
|
DIN No.: |
00288883 |
|
PAN No.: |
AACPG8685R |
|
|
|
|
Name : |
Mr. Alberto Piccinotti |
|
Designation : |
Director |
|
Address : |
Bisuschio (VA), Bisuschio, 21050, |
|
Date of Birth/Age : |
11.10.1959 |
|
Date of Appointment : |
07.08.2008 |
|
DIN No.: |
01891499 |
|
|
|
|
Name : |
Mr. Roger Willis London |
|
Designation : |
Director |
|
Address : |
2600, |
|
Date of Birth/Age : |
22.09.1952 |
|
Date of Appointment : |
27.06.2011 |
|
DIN No.: |
01928442 |
|
|
|
|
Name : |
Ms. Mitzi Ashida Van Leeuwen |
|
Designation : |
Director |
|
Address : |
214 Beringer PL, Chappel Hill NC 27516, State of North California,
8732, USA |
|
Date of Birth/Age : |
01.09.1963 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
02591307 |
|
|
|
|
Name : |
Ms. Elizabeth Howe Cassidy |
|
Designation : |
Director |
|
Address : |
3514 IVA ADR Dr. Hillsborough NC 27278-9404. NC,9404, United States
of America |
|
Date of Birth/Age : |
17.07.1958 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03523947 |
|
|
|
|
Name : |
Mr. Ravi Rajan |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Sunil |
|
Designation : |
Maintainace Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Reichhold Mauritius Limited, Mauritius |
|
37163439 |
|
Reichhol Holdings International BV, Netherlands |
|
10 |
|
|
|
|
|
TOTAL |
|
37163449 |
As on 12.12.2012
|
Names of Allottees |
|
No. of Shares |
|
|
|
|
|
Reichhold Mauritius Limited, Mauritius |
|
7632028 |
|
|
|
|
|
TOTAL |
|
7632028 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Market and Sell Specialty Resins for the Composites and
Coatings Market. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
·
Liquid |
||||
|
Countries : |
·
Dubai |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
ICICI Bank, Pune, Maharashtra, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
706-B wing, 7th Floor, |
|
Tel. No.: |
91-20-66244600 |
|
Fax No.: |
91-20-66244605 |
|
PAN No.: |
AACPJ9815E |
|
|
|
|
Ultimate Holding Company : |
Reichhold Holdings International BV, Netherlands |
|
|
|
|
Holding Company : |
Reichhold Mauritius Limited, Mauritius |
|
|
|
|
Fellow Subsidiaries : |
·
Reichhold Inc. ( USA), USA ·
Reichhold, Inc. (UAE), UAE ·
Reichhold UK Limited, UK ·
Reichhold AS, Norway ·
Reichhold CZ, Russia ·
Reichhold Inc. ( Parma), Italy ·
Reichhold SAS, France ·
Reichhold Denmark AS, Denmark ·
Reichhold Finance BV, Netherland ·
Reichhold Holdings
International BV, Netherland ·
Reichhold Polymers (Tianjin) Limited, China |
CAPITAL STRUCTURE
As on 31.03.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24906002 |
Equity Shares |
Rs. 10/- each |
Rs. 249.060 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24906002 |
Equity Shares |
Rs. 10/- each |
Rs. 249.060 millions |
|
|
|
|
|
After on
29.09.2012
Authorized 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 |
|
|
|
|
|
|
44795477 |
Equity Shares |
Rs. 10/- each |
Rs. 447.955
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
249.060 |
184.060 |
|
(b) Reserves & Surplus |
|
(409.497) |
(197.345) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
0.000 |
|
(2) Share Application money pending allotment |
|
171.604 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
11.167 |
(13.285) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
704.615 |
620.751 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
76.538 |
55.741 |
|
(d) long-term provisions |
|
2.244 |
0.043 |
|
Total Non-current
Liabilities (3) |
|
783.397 |
676.535 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
14.100 |
120.000 |
|
(b) Trade payables |
|
126.284 |
145.346 |
|
(c) Other current liabilities |
|
31.504 |
22.787 |
|
(d) Short-term provisions |
|
0.622 |
0.587 |
|
Total Current Liabilities
(4) |
|
172.510 |
288.720 |
|
|
|
|
|
|
TOTAL |
|
967.074 |
951.970 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
582.433 |
623.728 |
|
(ii) Intangible Assets |
|
4.578 |
7.929 |
|
(iii) Capital work-in-progress |
|
5.429 |
2.365 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
75.666 |
51.625 |
|
(e) Other Non-current assets |
|
0.506 |
0.255 |
|
Total Non-Current Assets |
|
668.612 |
685.902 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
68.661 |
63.886 |
|
(c) Trade receivables |
|
175.120 |
171.011 |
|
(d) Cash and cash equivalents |
|
15.012 |
6.401 |
|
(e) Short-term loans and advances |
|
39.669 |
24.770 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
298.462 |
266.068 |
|
|
|
|
|
|
TOTAL |
|
967.074 |
951.970 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
184.060 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
184.060 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
184.060 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.000 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
0.000 |
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.000 |
|
|
Net Current Assets |
|
|
0.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
184.060 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
184.060 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
746.854 |
377.721 |
76.830 |
|
|
|
Other Income |
7.194 |
2.301 |
24.820 |
|
|
|
TOTAL |
754.048 |
380.022 |
101.650 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
992.200 |
499.596 |
178.970 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
(238.151) |
(119.574) |
(77.320) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
(238.151) |
(119.574) |
(77.770) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
0.557 |
0.000 |
NA |
|
|
|
Sale of Samples |
0.034 |
0.063 |
NA |
|
|
TOTAL EARNINGS |
0.591 |
0.063 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
34.179 |
17.422 |
NA |
|
|
|
Stores & Spares |
0.000 |
4.006 |
NA |
|
|
TOTAL IMPORTS |
34.179 |
21.428 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (Rs.) |
(11.57) |
(6.50) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(31.58)
|
(31.46) |
(76.51) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(31.89)
|
(31.66) |
(100.63) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(24.77)
|
(12.59) |
(0.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(21.32)
|
9.00 |
(0.42) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
64.35
|
(55.76) |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73
|
0.92 |
0.00 |
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
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) |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
|
|
|
|
Term Loans from others |
704.615 |
620.750 |
|
Working Capital Loans from Banks |
14.100 |
120.000 |
|
|
|
|
|
Total |
718.715 |
740.750 |
COMPANY OVERVIEW
Subject is a company
registered under the provisions of the Companies Act, 1956. The Company is
incorporated on 8th February, 2007. The Company is a wholly owned
subsidiary of Reichhold Mauritius Limited, Mauritius which is a subsidiary of
Reichhold Holdings International BV, Netherlands, the ultimate holding company.
The Company had
completed the installation and commissioning of the manufacturing plant at
Ranjangaon in Pune District of Maharashtra state and started commercial
production with effect from 1st October 2009.
The Company
undertakes the business to manufacture market and sell specialty resins for the
composites market in India.
FIXED ASSETS:
- Furniture and Fixtures
- Office Equipments
- Data Processing Equipments
- Vehicles
- Plant and Equipment
- Buildings
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. 60.80 |
|
|
1 |
Rs. 91.95 |
|
Euro |
1 |
Rs. 80.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
18 |
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.