MIRA INFORM REPORT
|
Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SALICYLATE AND CHEMICALS PRIVATE LIMITED |
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|
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Registered
Office : |
12, Jeera,
Secunderabad, |
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Country : |
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Financials (as on)
: |
31.03.2012 |
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Date of
Incorporation : |
06.02.1978 |
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Com. Reg. No.: |
01-002255 |
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Capital
Investment / Paid-up Capital : |
Rs.20.000
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U24110AP1978PTC002255 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturing of organic chemicals, acids, pharmaceutical
products, drugs, dyes and intermediates etc. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 526000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The management has failed to file its financial with government
department for the year 2013. As per available financial of 2012, Profit and sales turnover of the
company appears to be decent. Trade relations are fair. Business is active. Payment terms are
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.
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 |
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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 |
ICRA |
|
Rating |
Fund based limits: “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
March, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits: “A3” |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
March, 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 PARTED BY
|
Name : |
Namita |
|
Designation : |
Accounts |
|
Contact No.: |
91-22-23513868 |
|
Date : |
16.12.2013 |
LOCATIONS
|
Registered Office : |
12, Jeera, Secunderabad,
|
|
Tel. No.: |
91-40-27562265 / 27171249
/ 27174691 / 27171550 |
|
Fax No.: |
91-40-27171249 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. ft. |
|
Location : |
Owned |
|
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|
Factory : |
A-25, Road No. 18, Nacharam Industrial Area, Hyderabad -
500076, |
|
Tel. No.: |
91-40-27171550/
27174691 |
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Fax No.: |
91-40-27171249 |
|
Website : |
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Branch Office
: |
5/44, Tardeo, Airconditioned Market, Tardeo, Mumbai -
400034, |
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Tel. No.: |
91-22-23514413/
23513868 |
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Fax No.: |
91-22-23516076 |
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E-Mail : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Mohana Narayanan Madathil |
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Designation : |
Managing Director |
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Address : |
27/23, 1, L.B. Nagar, R.K. Puram, P.O. Secunderabad-500056, |
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Date of Birth/Age : |
01.12.1956 |
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Date of Appointment : |
25.06.2012 |
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DIN No.: |
01316458 |
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Other Directorship:
|
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|||||||||||||||||||||||||||
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Name : |
Mr. Budhiraju Guru Prasad |
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Designation : |
Director |
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Address : |
Plot No. 13, Gautami Nagar, Vanasthalipuram, Hyderabad-500070, |
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Date of Birth/Age : |
23.07.1946 |
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Date of Appointment : |
01.08.2006 |
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DIN No.: |
01316448 |
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Other Directorship:
|
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Name : |
Jai Samir Sarvaiya |
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Designation : |
Director |
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Address : |
4/42, Amoolya, 195, Walkeshwar Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
12.02.1991 |
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Date of Appointment : |
15.04.2011 |
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DIN No.: |
03441686 |
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Name : |
Arti Samir Sarvaiya |
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Designation : |
Director |
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Address : |
42, Amoolya, 195, Walkeshwar Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
11.02.1962 |
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Date of Appointment : |
01.02.2012 |
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DIN No.: |
02389017 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Namita |
|
Designation : |
Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kanaka Latha D. Saravaiya |
|
74295 |
|
Samir D. Saravaiya |
|
6500 |
|
Neeta D. Saravaiya |
|
840 |
|
Arti S. Saravaiya |
|
79740 |
|
Medha D. Saravaiya |
|
290 |
|
Ketan D. Saravaiya |
|
1355 |
|
Falguni K. Saravaiya |
|
8000 |
|
Jai S. Sarvaiya |
|
11080 |
|
Meet K. Sarvaiya |
|
200 |
|
Samir D. Sarvaiya and Arti S. Sarvaiya |
|
200 |
|
|
|
10380 |
|
Jash K. Sarvaiya and Meet K. Sarvaiya |
|
750 |
|
Jai S. Sarvaiya and Arti S. Sarvaiya |
|
1000 |
|
Ketan D. Sarvaiya and Falguni K. Sarvaiya |
|
270 |
|
Falguni K. Sarvaiya and Ketan D. Sarvaiya |
|
200 |
|
Jai S. Sarvaiya and |
|
900 |
|
Meet K. Sarvaiya and Jash K. Sarvaiya |
|
100 |
|
Kanakalata D. Saravaiya ( HUF) |
|
3700 |
|
Ketan D. Saravaiya ( HUF ) |
|
100 |
|
Samir D. Saravaiya ( HUF ) |
|
100 |
|
Total |
|
200000 |
As on 28.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of organic chemicals, acids, pharmaceutical
products, drugs, dyes and intermediates etc. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and End Users |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
· State Bank of India, Nacharam I.A. Branch, Nacharam, Hyderabad - 500076, Andhra Pradesh, India HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg,
Lower Parel (West), Mumbai - 400013, Maharashtra, India Barclay's Bank Kotak Mahindra Bank Limited Standard Chartered Bank |
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Facilities : |
NOTE LONG TERM
BORROWINGS Term Loan from HDFC
bank Secured on hypothecation by way of First charge of Stocks and Book Debts & Fixed Assets of the Company and equitable mortgage of Factory land and Buildings and Agricultural Land and Personal Guarantee of Arti S Sarvaiya, director of the company and Krishna S Sarvaiya, Kanakalatha D Sarvaiya and Samir D Sarvaiya other than directors of the company Hire Purchase Loan
from HDFC Bank The hire purchase loan is secured against the assets purchased out of those loans. SHORT TERM BORROWINGS Working Capital
from HDFC bank Limited Secured on hypothecation by way of First charge of Stocks and Book Debts and Fixed Assets of the Company and equitable mortgage of Factory land and Buildings and Agricultural Land. Export Bills
Discounted from HDFC bank Limited Secured on hypothecation by way of First charge of Stocks
and Book Debts and Fixed Assets of the Company and equitable mortgage of
Factory land and Buildings and Agricultural Land. |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
CKS Associates Chartered Accountants |
|
Address : |
87, Nagarjuna Road, No. # 3, Gagan Mahal Colony, Hyderabad-500029,
Andhra Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFC2043A |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 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 |
|
20.000 |
20.000 |
|
(b) Reserves & Surplus |
|
111.580 |
85.121 |
|
(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) |
|
131.580 |
105.121 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
35.919 |
22.839 |
|
(b) Deferred tax liabilities (Net) |
|
4.714 |
4.552 |
|
(c) Other long term liabilities |
|
3.039 |
7.574 |
|
(d) long-term provisions |
|
5.884 |
4.795 |
|
Total Non-current Liabilities (3) |
|
49.556 |
39.760 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
87.678 |
41.562 |
|
(b) Trade payables |
|
209.234 |
190.215 |
|
(c) Other current
liabilities |
|
53.547 |
36.097 |
|
(d) Short-term provisions |
|
16.516 |
13.581 |
|
Total Current Liabilities (4) |
|
366.975 |
281.455 |
|
|
|
|
|
|
TOTAL |
|
548.111 |
426.336 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
95.492 |
79.643 |
|
(ii) Intangible Assets |
|
0.000 |
0.706 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.000 |
0.700 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
17.059 |
11.776 |
|
(e) Other Non-current assets |
|
3.513 |
3.764 |
|
Total Non-Current Assets |
|
117.064 |
96.589 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
160.418 |
161.959 |
|
(c) Trade receivables |
|
196.753 |
130.335 |
|
(d) Cash and cash
equivalents |
|
26.755 |
20.112 |
|
(e) Short-term loans and
advances |
|
20.905 |
16.253 |
|
(f) Other current assets |
|
26.216 |
1.088 |
|
Total Current Assets |
|
431.047 |
329.747 |
|
|
|
|
|
|
TOTAL |
|
548.111 |
426.336 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
17.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
58.763 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
75.763 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
60.495 |
|
|
2] Unsecured Loans |
|
|
29.523 |
|
|
TOTAL BORROWING |
|
|
90.018 |
|
|
DEFERRED TAX LIABILITIES |
|
|
3.285 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
169.066 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
58.947 |
|
|
Capital work-in-progress |
|
|
3.822 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.450 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
53.747
|
|
|
Sundry Debtors |
|
|
131.350
|
|
|
Cash & Bank Balances |
|
|
17.797
|
|
|
Other Current Assets |
|
|
1.464
|
|
|
Loans & Advances |
|
|
15.870
|
|
Total
Current Assets |
|
|
220.228
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
96.377
|
|
|
Other Current Liabilities |
|
|
5.411
|
|
|
Provisions |
|
|
12.593
|
|
Total
Current Liabilities |
|
|
114.381
|
|
|
Net Current Assets |
|
|
105.847
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
169.066 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
587.503 |
|
|
|
Other Income |
|
|
2.481 |
|
|
|
TOTAL (A) |
887.899 |
694.962 |
589.984 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
814.604 |
631.973 |
535.002 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
73.295 |
62.989 |
54.982 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.614 |
14.340 |
10.024 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
51.681 |
48.649 |
44.958 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.785 |
7.575 |
4.534 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
41.896 |
41.074 |
40.424 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.411 |
15.135 |
15.421 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
26.485 |
25.939 |
25.003 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.121 |
3.763 |
1.259 |
|
|
|
|
|
|
|
|
|
Add |
Prior Period Adjustments |
(0.025) |
0.419 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
25.000 |
22.500 |
|
|
BALANCE CARRIED
TO THE B/S |
31.581 |
5.121 |
3.762 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of finished goods |
657.941 |
549.324 |
428.455 |
|
|
TOTAL EARNINGS |
657.941 |
549.324 |
428.455 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
388.145 |
289.308 |
155.131 |
|
|
|
Purchases – Material for Repacking and Re-Labeling |
42.778 |
89.866 |
29.476 |
|
|
TOTAL IMPORTS |
430.923 |
379.174 |
184.607 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
153.14 |
152.58 |
147.08 |
|
|
|
Diluted |
153.14 |
129.70 |
147.08 |
|
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
890.000 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs. 920.000 Millions
The above information has been parted by Namita (Accounts).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.98
|
3.73 |
4.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
6.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.66
|
9.65 |
14.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.39 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.94
|
0.61 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.17 |
1.93 |
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
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 |
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 |
No |
|
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 |
10405843 |
23/02/2013 |
2,530,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI - 400710, MAHARASHTRA, INDIA |
B68868348 |
|
2 |
10341110 |
28/02/2012 |
779,184.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI - 400710, MAHARASHTRA, INDIA |
B34516393 |
|
3 |
10312945 |
28/01/2013 * |
186,994,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B69711851 |
|
4 |
10303885 |
31/07/2011 |
6,823,494.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI - 400710, MAHARASHTRA, INDIA |
B19491216 |
|
5 |
90125724 |
30/08/1990 |
1,465,000.00 |
A. P. STATE FINANCIAL CORPORATION |
CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
6 |
90124889 |
05/02/1988 |
173,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
CHIRAG ALI LANE, HYDERABAD - 500001, ANDHRA PRADESH, INDIA |
- |
|
7 |
90125292 |
16/07/1980 |
490,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
CHIRAG ALI LANE, HYDERABAD - 500001, ANDHRA PRADESH, INDIA |
- |
|
8 |
90124826 |
07/04/1980 |
424,440.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
CHIRAG ALI LANE, HYDERABAD - 500001, ANDHRA PRADESH, INDIA |
- |
|
9 |
90125286 |
12/02/1980 |
150,000.00 |
INDIAN BANK |
OSMANGUNJ, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Banks |
7.745 |
6.823 |
|
From Others - Financial institutions |
12.016 |
12.573 |
|
Loans and Advances
from related parties: |
|
|
|
Shareholders |
3.285 |
0.688 |
|
Directors |
3.841 |
0.000 |
|
Total |
26.887 |
20.084 |
HISTORY:
The Company was incorporated on February 06, 1978, with the object of manufacturing organic chemicals, acids, pharmaceutical products, drugs, dyes and intermediates etc. The Company took over an existing unit manufacturing
parabens, located in the Nacharam Industrial Development Area, Hyderabad, in December 1978. The present promoters took over the management in the year 1982. The manufacturing facilities have been constantly upgraded over the years to meet the market and environmental requirements. The Company is a member of the Jeedimetla Effluent Treatment Limited, where the effluents of the unit are processed/treated to meet the stringent pollution control requirements. The installed capacities are being periodically enhanced depending upon the marketing needs.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
a In respect of bank guarantees and letters of credit |
34.530 |
20.161 |
|
b Capital commitments on contracts remaining to be executed |
0.000 |
0.375 |
|
c Unfulfilled Export Obligation on concessional import of raw material |
9.740 |
31.664 |
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
& Machinery
Office
Equipment
Computers
Furniture
& fixtures
Vehicles
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 records 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.61.96 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.85.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.