MIRA
INFORM REPORT
|
Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASK CHEMICALS INDIA PRIVATE LIMITED (w.e.f. 26.11.2012) |
|
|
|
|
Formerly Known
As : |
ASK CHEMICALS FOUNDRY SOLUTION INDIA PRIVATE LIMITED (w.e.f.
24.02.2011) AJAY METACHEM SUD CHEMIE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No 9 and 10, 5th Floor, Akshay Complex, Anudh, Pune
– 411007, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.07.1973 |
|
|
|
|
Com. Reg. No.: |
11-016721 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.983 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231MH1973PTC016721 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA05295D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA0713D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of chemicals. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears some dip in the profit during 2012. However, trade relations are
reported to be fair. Business is active. Payments are reported to be usually
correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Sane |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9922421254 |
|
Date : |
07.08.2013 |
LOCATIONS
|
Registered Office : |
Office No 9 and 10, 5th Floor Akshay Complex, Anudh, Pune –
411007, |
|
Tel. No.: |
91-20-25898882 |
|
Mobile No.: |
91-9922421254 (Mr. Sane) |
|
Fax No.: |
91-20-25898882 |
|
E-Mail : |
yeshwant.pathak@ask-chemicals.com
|
|
Website : |
|
|
Location |
Owned |
|
|
|
|
Factory/ Head Office : |
No. 72- 76, Mundwa, |
|
|
|
|
Factory : |
|
DIRECTORS
As on 25.09.2012
|
Name : |
Mr. Pratap Govind Pawar |
|
Designation : |
Managing director |
|
Address : |
S. No. 73 Off |
|
Date of Birth/Age : |
15.10.1944 |
|
Qualification : |
BE Civil |
|
Experience : |
42 Years |
|
Date of Appointment : |
09.11.2011 |
|
PAN No.: |
AAUPP9272H |
|
DIN No.: |
00018985 |
|
|
|
|
Name : |
Mr. Mahendra Singh Gurudev Singh Garcha |
|
Designation : |
Director |
|
Address : |
Plot No. 5 and 6, Flat No 401 and 501 S. No.132, Hissa No.1,
Cosmopolitan Housing Society, Aundh, Pune – 411007, |
|
Date of Birth/Age : |
10.03.1964 |
|
Date of Appointment : |
22.07.2008 |
|
DIN No.: |
00018959 |
|
|
|
|
Name : |
Mr. Ramchandra Ganesh Kulkarni |
|
Designation : |
Whole-time director |
|
Address : |
S No. 57/ 2AB, Building ,Flat – 4, Maurya Vihar, Kothrud,
Pune – 411027, |
|
Date of Birth/Age : |
11.04.1941 |
|
Date of Appointment : |
06.06.2005 |
|
PAN No.: |
AHPPK3184M |
|
DIN No.: |
00025033 |
|
|
|
|
Name : |
Mr. Hans Jurgen Wernicke |
|
Designation : |
Director |
|
Address : |
Kardinal – Wendel - Street 75 a Wolfratshausen, Wolfratshausen - 82515 |
|
Date of Birth/Age : |
09.06.1949 |
|
Date of Appointment : |
22.07.2008 |
|
DIN No.: |
02165332 |
|
|
|
|
Name : |
Mr. Stefan Sommer |
|
Designation : |
Nominee director |
|
Address : |
Hardtbergweg 23, Kronberg im Taunus, |
|
Date of Birth/Age : |
29.07.1957 |
|
Date of Appointment : |
23.09.2011 |
|
DIN No.: |
03418611 |
|
|
|
|
Name : |
Mr. Thiemo Heinzen |
|
Designation : |
Nominee director |
|
Address : |
Brunnengasse 33, |
|
Date of Birth/Age : |
16.10.1965 |
|
Date of Appointment : |
23.09.2011 |
|
DIN No.: |
03454238 |
KEY EXECUTIVES
|
Name : |
Mr. Sane |
|
Designation : |
Finance Head |
|
|
|
|
Name : |
Dr. Jochen Landes |
|
Designation : |
President and Chief Executive Officer |
|
Date of Birth/Age : |
54 Years |
|
Qualification: |
Phd. In Physics |
|
Experience: |
21 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ask Chemicals Pte Limited, Singapore |
|
99824 |
|
Ask Chemicals GmbH |
|
1 |
|
Total |
|
99825 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2012
|
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 of chemicals. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Thailand ·
Pakistan ·
Dubai ·
Bangladesh |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Germany ·
Singapore |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit, Depend |
PRODUCTION STATUS AS ON (31.03.2010)
Class of Goods:
Foundry Fluxes
|
Products/ Plant |
Works |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Insulating Division |
Mundhwa/ |
Not Specified |
15600 MT |
13218 MT |
|
Steel Treatment |
Wadki |
Not Specified |
10800 MT |
5104 MT |
|
Flux and Non Ferrous |
Mundhwa |
Not Specified |
6000 MT |
667 MT |
|
Kotesand |
Wadki |
Not Specified |
54000 MT |
25747 MT |
|
Resin |
Mundhwa Wadki |
Not Specified |
6000 MT |
3044 MT |
|
Coating |
Mundhwa |
Not Specified |
7200 MT |
2515 MT |
(In opinion of the Management the production
figures are stated to the maximum details which can be derived as there are some
products which are sold in numbers and the same cannot be stated in the above
unit measurement i.e. MT)
GENERAL INFORMATION
|
Customers : |
End Users |
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|
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|
No. of Employees : |
400 (Approximately) |
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|
Bankers : |
·
Bank of Baroda, (Shivaji Nagar Branch) 1303,
Jangali Maharaj Road, Shivaji Nagar, Pune – 411005, Maharashtra, India ·
HSBC Bank Limited |
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|
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Facilities : |
|
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|
Banking
Relations : |
-- |
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|
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|
Auditors 1: |
|
|
Name : |
BSSR and Company Chartered Accountants |
|
Address : |
Pune, Maharashtra, India |
|
|
|
|
Auditors 2: |
|
|
Name : |
Mohan Deshmukh and Company Chartered Accountants |
|
Address : |
B-306, Narayan Chambers, 555 Narayan Peth, Pune - 411030, Maharashtra,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFM1053F |
|
|
|
|
Holding Company (Subsequent to December 2010): |
Ask Chemical Gmbh (Ashland Sudchemie Kernfest) |
|
|
|
|
Holding Company (Till December 2010): |
·
Sudchemie AG |
|
|
|
|
A Companies in which directors Are substantially interested: |
·
Wikas Electric Ceramic Private Limited, India ·
Ojas Engineering Private Limited, India CIN:
U28999MH1969PTC014265 ·
United Metachem Private Limited, India ·
CIN: U27104MH1974PTC017447 ·
Sakal Papers Limited, India CIN:
U22121PN1948PTC006177 ·
A P Holdings Private Limited ·
Stamford Warehousing and Developers Private
Limited, India CIN:
U63023PN1990PTC057063 |
|
|
|
|
Fellow Subsidiaries: |
· Ask Chemicals Metallurgy Gmbh (SKW Giesserei Gmbh) · Ask Chemicals Feeding System Gmbh · Ask Chemicals Hi-Tech Inc. · ASK Chemicals US Limited · ASK Chemicals Espana S.A.U · PT- Sudchemie Indonesia · Sud-Chemie (Thai) Company Limited · ASK Chemicals UK Limited |
CAPITAL STRUCTURE
As on 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99825 |
Equity Shares |
Rs. 100/- each |
Rs. 9.983
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99825 |
Equity Shares |
Rs. 100/- each |
Rs. 9.983
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 |
|
9.983 |
9.983 |
|
(b) Reserves & Surplus |
|
360.147 |
354.950 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
370.130 |
364.933 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
1.805 |
1.534 |
|
Total Non-current Liabilities (3) |
|
1.805 |
1.534 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
141.919 |
135.246 |
|
(b) Trade payables |
|
177.467 |
246.581 |
|
(c) Other current
liabilities |
|
16.328 |
8.580 |
|
(d) Short-term provisions |
|
12.877 |
13.743 |
|
Total Current Liabilities (4) |
|
348.591 |
404.150 |
|
|
|
|
|
|
TOTAL |
|
720.526 |
770.617 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
181.332 |
163.411 |
|
(ii) Intangible Assets |
|
8.677 |
3.715 |
|
(iii) Capital
work-in-progress |
|
15.003 |
4.756 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.065 |
0.065 |
|
(c) Deferred tax assets (net) |
|
2.145 |
3.942 |
|
(d) Long-term Loan and Advances |
|
3.077 |
28.209 |
|
(e) Other Non-current assets |
|
10.003 |
14.307 |
|
Total Non-Current Assets |
|
220.302 |
218.405 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
122.153 |
133.210 |
|
(c) Trade receivables |
|
333.794 |
388.872 |
|
(d) Cash and cash
equivalents |
|
19.866 |
14.163 |
|
(e) Short-term loans and
advances |
|
15.260 |
8.650 |
|
(f) Other current assets |
|
9.151 |
7.317 |
|
Total Current Assets |
|
500.224 |
552.212 |
|
|
|
|
|
|
TOTAL |
|
720.526 |
770.617 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.983 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
345.434 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
355.417 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
55.651 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
55.651 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
411.068 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
126.081 |
|
|
Capital work-in-progress |
|
|
5.838 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.065 |
|
|
DEFERREX TAX ASSETS |
|
|
2.249 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
113.049 |
|
|
Sundry Debtors |
|
|
338.214 |
|
|
Cash & Bank Balances |
|
|
15.080 |
|
|
Other Current Assets |
|
|
155.997 |
|
|
Loans & Advances |
|
|
31.688 |
|
Total
Current Assets |
|
|
654.028 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
212.555 |
|
|
Other Current Liabilities |
|
|
11.051 |
|
|
Provisions |
|
|
153.587 |
|
Total
Current Liabilities |
|
|
377.193 |
|
|
Net Current Assets |
|
|
276.835 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
411.068 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1356.460 |
1264.835 |
1365.138 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1316.891 |
1226.369 |
1167.469 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
39.569 |
38.466 |
197.669 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
27.962 |
23.936 |
25.275 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11.607 |
14.530 |
172.394 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.410 |
5.014 |
45.542 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
5.197 |
9.516 |
126.852 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
323.656 |
314.140 |
187.288 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
328.853 |
323.656 |
314.140 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
NA |
NA |
14.165 |
|
|
|
Commission Received |
NA |
NA |
0.076 |
|
|
TOTAL EARNINGS |
NA |
NA |
14.241 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
205.509 |
126.339 |
122.271 |
|
|
|
Trading Goods |
31.511 |
25.617 |
61.607 |
|
|
|
Capital Goods |
15.130 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
252.150 |
151.956 |
183.878 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
52.06 |
95.32 |
1271.00 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
1100.000 |
The above information has been parted by Mr. Sane (Finance Head)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.38
|
0.75 |
9.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.65
|
1.91 |
26.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.04 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38
|
0.37 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27
|
2.53 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
0.000 |
0.022 |
NA
|
|
|
|
|
|
|
Total |
0.000 |
0.022 |
NA
|
|
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
FOUR 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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10005429 |
07/03/2012 * |
83,700,000.00 |
BANK OF BARODA (SHIVAJI NAGAR BRANCH) |
1303,JANGALI AHARAJ ROAD, SHIVAJINAGAR, PUNE, PUNE, MAHARASHTRA
411005, INDIA |
B35826692 |
Note: *
Date of charge modification
PERFORMANCE FOR
THE YEAR
During the year the company achieved revenue of Rs.1356.460 Millions-
(net of Excise Duties) as against Rs. 1264.835 Millions for the previous year,
registering the growth of 7.24 %. The
drop in margin is on account of continuous increase in the prices of raw
materials and cost of other operating expenses coupled with the company
inability to pass on the entire burden of
cost increase to its end customers.
CONTINGENT
LIABILITIES (As on 31.03.2012):
Guarantees given by the Company’s Bankers
Rs.15.037 Millions Claims made by Excise Authorities pending before various
Appellate Authorities Rs. 6.370 Millions Assessment Dues claimed by Income Tax
Authorities which are not acknowledged by the company is Rs. 8.623 Millions
|
Assessment Year |
Rs. In Millions |
|
2007-08 |
6.521 |
|
2006-07 |
1.068 |
|
2005-06 |
1.034 |
|
Total |
8.623 |
Against these dues, amount deposited (under
dispute) is Rs. 2.877 Millions-
d. Letter of Credit outstanding Rs.
15,315,447/-
C Forms not received amounting to Rs. 542.028
Millions till the date of signing of the Balance Sheet and the differential
liability that may arise is Rs.63.750 Millions
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Office building
·
Factory building
·
Plant and equipment
·
Factory equipments
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
·
Books periodicals
Intangible assets
·
Computer software
·
Mining rights
·
Know-how
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.61.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.