MIRA
INFORM REPORT
|
Report Date : |
13.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHEMINOVA INDIA LIMITED |
|
|
|
|
Registered
Office : |
Keshava, 7th Floor, Bandra Kurla Complex, Bandra (East),
Mumbai – 400051, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
15.01.1986 |
|
|
|
|
Com. Reg. No.: |
11-038627 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 303.500 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1986PLC038627 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC11333A MUMC11823A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1417E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in providing crop protection solution through
manufacturing and marketing of agrochemicals and its intermediates |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 7600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Satisfactory |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Management of the company has failed to file its latest financial of
2013 with government department. Company is performing well. Liquidity position seems to be good. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A+ |
|
Rating Explanation |
Adequate credit quality and average credit quality |
|
Date |
04.06.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
04.06.2013 |
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 DECLINED BY
|
Name : |
Mr. Sunil Londhe |
|
Designation : |
General Manager in Finance |
|
Date : |
10.12.2013 |
LOCATIONS
|
Registered / Corporate Office : |
Keshava, 7th Floor, Bandra Kurla Complex, Bandra (East),
Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-67045504 / 26590340 |
|
Fax No.: |
91-22-67045478 / 67045488 / 26542655 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No 242/P, G.I.D.C. Industrial Estate, Panoli,
District Bharuch - 394 116, Gujarat, India |
|
Tel. No.: |
91-02646-645843 / 46 / 47 / 48 / 53 |
|
Fax No.: |
91-02646-272255 / 272213 |
|
|
|
|
Factory 2 : |
Plot No 241, G.I.D.C. Industrial Estate, Panoli, District
Bharuch - 394 116, Gujarat, India |
|
|
|
|
Factory 3 : |
Plot No 27, and 28, G.I.D.C. Industrial Estate, Panoli,
District Bharuch - 394 116, Gujarat, India |
|
|
|
|
Factory 4 : |
Plot No 229, G.I.D.C. Industrial Estate, Panoli, District
Bharuch - 394 116, Gujarat, India |
|
|
|
|
Regional Office: |
Noida Flat No. 604 and 605, Chokhani Square, Sector - 18, Noida - 201 301, Uttar Pradesh, India Ahmedabad N.G. Warehousing, 1. Nar Narayan Estate, 1st Floor,
Narol-Isanpur Road, Hyderabad
Bangalore
Kolkata
|
|
|
|
|
Regional Offices
and Depot Locations : |
·
Noida - North Regional Office ·
Bathinda ·
Ludhiana ·
Hisar ·
Karnal ·
Ghaziabad ·
Indore ·
Jabalpur ·
Raipur ·
Ahmedabad - West Regional Office ·
Akola ·
Pune ·
Nagpur ·
Sriganganagar ·
Jaipur ·
Hyderabad - Central Regional Office ·
Vijayawada ·
Kurnool ·
Bhubhaneshwar ·
Bangalore - South Regional Office ·
Bellary ·
Warangal ·
Nellore ·
Gulbarga ·
Kottayam ·
Tiruchirapally ·
Kolkata - East Regional Office ·
Patna ·
Guwahati ·
Siliguri |
DIRECTORS
As on 24.05.2013
|
Name : |
Mr. Pramod Narayan Karlekar |
|
Designation : |
Managing Director |
|
Address : |
403, Anantashram, Road No. 9,
Near Sandu Wadi, Chembur, Mumbai – 400071, |
|
Date of Birth/Age : |
23.07.1959 |
|
Date of Appointment : |
16.06.2008 |
|
DIN No.: |
01776461 |
|
PAN No.: |
AJAPK6062F |
|
|
|
|
Name : |
Mr. Ajit Laxman Inamdar |
|
Designation : |
Whole Time Director |
|
Address : |
502/503, Sun and Breeze
Co-operative Housing Society, Sahakar Path, Opposite Gokul Arcade, Vile Parle
(East), Mumbai-400057, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1951 |
|
Date of Appointment : |
05.04.2010 |
|
DIN No.: |
00895784 |
|
PAN No.: |
AAAPI2844Q |
|
|
|
|
Name : |
Mr. Niels Morten Hjort |
|
Designation : |
Chairman and Director |
|
Address : |
Odinsvej – 52, 7620- Lemvig,
Denmark |
|
Date of Birth/Age : |
08.04.1963 |
|
Date of Appointment : |
10.10.2003 |
|
DIN No.: |
00051003 |
|
|
|
|
Name : |
Mr. Kurt Pedersen Kaalund |
|
Designation : |
Director |
|
Address : |
Kaj Munksvej, 8, Holstebro,
Denmark - 7500 |
|
Date of Birth/Age : |
21.12.1963 |
|
Date of Appointment : |
20.02.2008 |
|
DIN No.: |
01923594 |
|
|
|
|
Name : |
Mr. Mehernosh Meherji Behramkamdin |
|
Designation : |
Whole-time director |
|
Address : |
C-2, Ground Floor, Building –C, Godrej Baug, Off Nepean Sea Road, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
03.05.1952 |
|
Date of Appointment : |
05.04.2010 |
|
DIN No.: |
02893644 |
|
PAN No.: |
AABPB5537E |
|
|
|
|
Name : |
Mr. Jesper Barslund Jacobsen |
|
Designation : |
Director |
|
Address : |
Haretonften 30, Holstebro, Denmark |
|
Date of Birth/Age : |
17.04.1973 |
|
Date of Appointment : |
28.06.2011 |
|
DIN No.: |
03303160 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh Sureshchandra Buch |
|
Designation : |
Company Secretary |
|
Address : |
B-105, Building No.2, Shila Bina Co-op HSG Society, |
|
Date of Birth/Age : |
24.11.1965 |
|
Date of Appointment : |
04.04.1997 |
|
PAN No.: |
AADPB1694A |
|
|
|
|
Name : |
Mr. Sunil Londhe |
|
Designation : |
General Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.05.2013
|
Names of Shareholders |
|
No. of Shares |
|
Cheminova A/S, |
|
3034990 |
|
Anil V. Patil/ Cheminova A/S |
|
1 |
|
Radheshyam M. Rathi/ Cheminova
A/S |
|
1 |
|
Dennis Dias/ Cheminova A/S |
|
5 |
|
Alok Kanta Moitra/ Cheminova A/S |
|
1 |
|
Maruti R. Dharmadhikari/
Cheminova A/S |
|
1 |
|
Prashant V. Pradhan/ Cheminova
A/S |
|
1 |
|
|
|
|
|
Total |
|
3035000 |
As on 24.05.2013
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 : |
Subject is engaged in providing crop protection solution through manufacturing
and marketing of agrochemicals and its intermediates |
||||||||||
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|
|
||||||||||
|
Products : |
|
PRODUCTION STATUS (As on
31.12.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Agrochemical Technical / Intermediate## |
Kgs. |
NA |
20556000 |
15512155 |
|
Agrochemical Formulation # |
Ltrs. Kgs. |
NA |
NA |
8339826 5854574 |
N. A.: Not
Applicable
Notes:
** It is not possible to determine the installed capacity for
Agrochemical Formulations since it would vary according to the product mix.
*** Actual Production is after adjusting processing losses, breakages,
shortages/excesses, etc.
# Actual Production of Agrochemical Formulations includes 661,190 Ltrs
and 5,407,956 Kgs (Previous year 417,628 Ltrs and 4,959,181 Kgs) produced by
Loan Licensee Units.
## Actual Production of Agrochemical Technical/ Intermediates includes
production for captive consumption 8,744,661 Kgs
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||
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|
|
||||||||||||
|
Bankers : |
· Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India · ING Vysya Bank Limited, 22,Ground Floor, ING Vysya House, M.G. Road,, Bangalore - 560001, Karnataka, India ·
ABN Amro Bank N.V., 14; Veer Nariman Road, Bombay
– 400 023, Maharashtra, India ·
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffee
Parade, Mumbai – 400 005, Maharashtra, India ·
The Hongkong and Shanghai Banking Corporation
Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra,
India ·
Induslnd Bank, Ground Floor, Maker Chamber IV,
Nariman Point, Mumbai – 400 021, Maharashtra, India ·
Yes
Bank Limited, 9th floor,
Nehru centre, discovery of India, Dr. Annie Besant road, Worli, MUMBAI
400018, Maharashtra, India ·
Rabobank International (Cooperatieve Centrale
Raiffeisen-Boerenleenbank B.A.) Mumbai Branch, Forbes Bldg 2nd Floor,
Charanjit Rai Marg, Fort, Mumbai - 400001, Maharashtra, INDIA |
||||||||||||
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|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679025 |
|
PAN No.: |
ABJPS8683B |
|
|
|
|
Holding Company : |
Cheminova AS |
|
|
|
|
Fellow Subsidiary
Company : |
· Cheminova Agro De Argentina S.A. · Cheminova Brazil LTDA · Cheminova Taiwan Limited · Cheminova China Limited · Cheminova Uruguay S.A. · Cheminova Agroqumica S.A. · Stahler Tec Deutschland GMBH |
CAPITAL STRUCTURE
As on 24.05.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3515000 |
Equity Shares |
Rs.100/- each |
Rs.351.500 Millions |
|
3380000 |
Preference Shares |
Rs.100/- each |
Rs.338.000 Millions |
|
5000 |
Unclassified Shares |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
|
|
|
|
|
Total |
|
Rs.690.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3035000 |
Equity Shares |
Rs. 100/- each |
Rs.303.500
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
303.500 |
303.500 |
|
(b) Reserves & Surplus |
|
1615.260 |
1229.610 |
|
(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) |
|
1918.760 |
1533.110 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
17.996 |
13.083 |
|
(c) Other long term liabilities |
|
107.302 |
93.089 |
|
(d) long-term provisions |
|
46.575 |
30.999 |
|
Total Non-current Liabilities (3) |
|
171.873 |
137.171 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1489.156 |
397.278 |
|
(b) Trade payables |
|
2803.018 |
2716.184 |
|
(c) Other current
liabilities |
|
113.324 |
115.082 |
|
(d) Short-term provisions |
|
179.682 |
454.792 |
|
Total Current Liabilities (4) |
|
4585.180 |
3683.336 |
|
|
|
|
|
|
TOTAL |
|
6675.813 |
5353.617 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
842.461 |
558.402 |
|
(ii) Intangible Assets |
|
23.400 |
0.000 |
|
(iii) Capital
work-in-progress |
|
152.542 |
132.489 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
5.802 |
5.802 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
98.220 |
83.290 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
1122.425 |
779.983 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1181.182 |
1553.342 |
|
(c) Trade receivables |
|
2521.178 |
2537.268 |
|
(d) Cash and cash
equivalents |
|
1466.915 |
220.841 |
|
(e) Short-term loans and
advances |
|
316.874 |
242.746 |
|
(f) Other current assets |
|
67.239 |
19.437 |
|
Total Current Assets |
|
5553.388 |
4573.634 |
|
|
|
|
|
|
TOTAL |
|
6675.813 |
5353.617 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
303.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1271.344 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1574.844 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
155.221 |
|
|
2] Unsecured Loans |
|
|
111.775 |
|
|
TOTAL BORROWING |
|
|
266.996 |
|
|
DEFERRED TAX LIABILITIES |
|
|
15.044 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1856.884 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
496.360 |
|
|
Capital work-in-progress |
|
|
57.415 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.802 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
957.441
|
|
|
Sundry Debtors |
|
|
1878.195
|
|
|
Cash & Bank Balances |
|
|
385.223
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
193.584
|
|
Total
Current Assets |
|
|
3414.443 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1806.244
|
|
|
Other Current Liabilities |
|
|
162.949
|
|
|
Provisions |
|
|
147.943
|
|
Total
Current Liabilities |
|
|
2117.136
|
|
|
Net Current Assets |
|
|
1297.307
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1856.884 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8544.768 |
6724.615 |
5128.708 |
|
|
|
Other Income |
41.891 |
7.107 |
42.464 |
|
|
|
TOTAL (A) |
8586.659 |
6731.722 |
5171.172 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3042.745 |
|
|
|
|
|
Purchases of stock-in-trade |
650.618 |
897.742 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
306.146 |
(365.053) |
4443.625 |
|
|
|
Employee benefit expense |
468.486 |
361.235 |
|
|
|
|
Other expenses |
2925.744 |
2038.707 |
|
|
|
|
TOTAL (B) |
7393.739 |
6117.417 |
4443.625 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1192.920 |
614.305 |
727.547 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
253.459 |
60.535 |
31.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
939.461 |
553.770 |
696.454 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
124.111 |
80.130 |
71.802 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
815.350 |
473.640 |
624.652 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
253.338 |
162.640 |
220.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
562.012 |
311.000 |
404.597 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
781.900 |
854.700 |
844.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
56.200 |
31.100 |
40.500 |
|
|
|
Dividend on Equity Shares |
151.700 |
303.500 |
303.500 |
|
|
|
Dividend Distribution Tax on Equity Shares |
24.600 |
49.200 |
50.400 |
|
|
BALANCE CARRIED
TO THE B/S |
1111.412 |
781.900 |
854.697 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
185.18 |
102.47 |
133.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
6.55
|
4.62 |
7.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.54
|
7.04 |
12.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.51
|
9.08 |
15.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.31 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78
|
0.26 |
0.17
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.24 |
1.61
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
ITXAL/2002/2010 |
Failing Date:- |
31/08/2010 |
Reg. No.:- |
ITXA/6440/2010 |
Reg. Date:- |
23/11/2010 |
|
|
|||||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX |
Respondent:- |
M/S. CHEMINOVA INDIA LIMITED |
||||
|
Petn.Adv:- |
SUCHITRA KAMBLE (0) |
Resp. Adv.: |
PDS LEGAL (0) |
||||
|
District:- |
MUMBAI |
||||||
|
|
|||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Admitted (Unready) |
Stage:- |
FOR ADMISSION – FRESH |
||||
|
Last Date:- |
13/01/2012 |
|
|||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE J.P. DEVADHAR HON’BLE SHRI JUSTICE A.R. JOSHI |
||||||
|
|
|
||||||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
|||||
PERFORMANCE:
The Company achieved net turnover of Rs. 8275.000 Millions which was higher by 24.4% as against Rs. 6651.000 Millions of the previous year ended 31.12.2011. The Company recorded profit before tax which stood at Rs. 815.350 Millions as compared to Rs. 473.640 Millions in year 2011.
The Company experienced overall sales growth in local as well as export market. The export were all time high since entry of the Company in to the export market. On local market front new molecules introduced in recent past have established their firm position in market.
The Company also achieved remarkable growth in technical and intermediate production. During the year the commercial production of technical and formulations were commenced on second production site which was mainly housing intermediate production unit.
During the year your Company achieved Gross Profit before Interest, Depreciation and Tax (PBDIT) for the year at Rs. 1193.000 Millions against Rs. 614.305 Millions in the previous year 2011.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10435524 |
11/06/2013 |
400,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B79052726 |
|
2 |
10389057 |
25/10/2012 |
750,000,000.00 |
ING VYSYA BANK LIMITED |
22,GROUND FLOOR, ING VYSYA HOUSE, M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B62998000 |
|
3 |
10376933 |
18/06/2013 * |
700,000,000.00 |
RABOBANK INTERNATIONAL (COOPERATIEVE CENTRALE RAIF |
MUMBAI BRANCH, FORBES BLDG 2ND FLOOR, CHARANJIT RAI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B79566048 |
|
4 |
10364123 |
14/05/2012 |
410,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B43054014 |
|
5 |
10273612 |
22/10/2012 * |
700,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B60306180 |
|
6 |
10193171 |
10/12/2009 |
200,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A75881805 |
* Date of charge modification
FIXED ASSETS
- Building
- Plant and Machinery
- Furniture and Fittings
- Motor Vehicle
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.61.62 |
|
|
1 |
Rs.100.84 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--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.