|
Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCED ENZYME TECHNOLOGIES LIMITED (w.e.f 19.08.2005) |
|
|
|
|
Formerly Known
As : |
ADVANCED BIOCHEMICALS LIMITED (w.e.f. 28.05.1992) ADVANCED BIOCHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5th Floor, Sun Magnetica, Louiswadi, Near LIC Service Road, Louis
Wadi, Thane – 400604, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.03.1989 |
|
|
|
|
Com. Reg. No.: |
11-051018 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.217.656 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24200MH1989PLC051018 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA05159A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA4555E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Sales of
Enzymes. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5224000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
Uptick in
agriculture and construction spread some cheer as the economy grew a
higher-than-expected 4.8 % in the three months through September. Manufacturing
rose an annual rate per cent during the quarter and mining fell by 0.4 %,
government data showed while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
IPO (Grading Scale 3/5) |
|
Rating Explanation |
Average fundamentals |
|
Date |
September 5, 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 DENIED
Management Non Co-Operative (91-22-41703200)
LOCATIONS
|
Registered Office : |
5th Floor, Sun Magnetica, Louiswadi, Near LIC Service Road, Louis
Wadi, Thane – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-41703200/ 25838350 |
|
Fax No.: |
91-22-25835159 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 01.08.2013
|
Name : |
Mr. Chandrakant Laxminarayan Rathi |
|
Designation : |
Managing Director |
|
Address : |
Row House No. 18, Teen Hath Naka, Thane (West), Thane – 400601,
Maharashtra, India |
|
Date of Birth/Age : |
12.06.1954 |
|
Date of Appointment : |
23.036.1992 |
|
PAN No.: |
ACVPR8194H |
|
DIN No.: |
00365691 |
|
|
|
|
Name : |
Mr. Ramesh Thakorlal Mehta |
|
Designation : |
Director |
|
Address : |
Sorrento Flat No. 2, 1st Floor, 12 Mount Pleasant Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1932 |
|
Date of Appointment : |
05.03.1993 |
|
PAN No.: |
AAHPM4603L |
|
DIN No.: |
00367439 |
|
|
|
|
Name : |
Mr. Mukund Madhusudan Kabra |
|
Designation : |
Whole-Time Director |
|
Address : |
Madhu-Mangal Sheetal Co-Operative Housing Society, Tilak Road, Nashik
– 422001, Maharashtra, India |
|
Date of Birth/Age : |
09.07.1972 |
|
Date of Appointment : |
04.09.1999 |
|
PAN No.: |
ACKPK3660N |
|
DIN No.: |
00148294 |
|
|
|
|
Name : |
Mrs. Savita Chandrakant Rathi |
|
Designation : |
Whole-Time Director |
|
Address : |
Row House No. 18, Teen Hath Naka, Thane (West), Thane – 400601,
Maharashtra, India |
|
Date of Birth/Age : |
26.02.1961 |
|
Date of Appointment : |
12.01.2003 |
|
PAN No.: |
ACYPR7863C |
|
DIN No.: |
00365717 |
|
|
|
|
Name : |
Mr. Pradip Bhailal Shah |
|
Designation : |
Director |
|
Address : |
16629 Black Burn Drive, LA-Miranda, California – 90638, USA |
|
Date of Birth/Age : |
30.11.1953 |
|
Date of Appointment : |
24.09.1993 |
|
DIN No.: |
01225582 |
|
|
|
|
Name : |
Mr. Vasant Rathi |
|
Designation : |
Director |
|
Address : |
5390, LA Crescenta, Yorba Linda, CA92887 |
|
Date of Birth/Age : |
17.01.1950 |
|
Date of Appointment : |
16.03.2013 |
|
DIN No.: |
01233447 |
|
|
|
|
Name : |
Kedar Jagdish Desai |
|
Designation : |
Director |
|
Address : |
Flat No. 52, Makani Manor, Opposite Jaslok Hospital, Peddar Road,
Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1971 |
|
Date of Appointment : |
16.03.2013 |
|
PAN No.: |
ACMPD8601N |
|
DIN No.: |
00322581 |
|
|
|
|
Name : |
Venkata Ramakrishna Kunisetty |
|
Designation : |
Director |
|
Address : |
Flat 301, Orchid Hiranandani Meadows, Gladys Alwares Marg, Off.
Pokhran Road No.2, Thane – 400610, Maharashtr, aIndia |
|
Date of Birth/Age : |
29.10.1969 |
|
Date of Appointment : |
11.08.2012 |
|
PAN No.: |
AAFPR5659F |
|
DIN No.: |
00133248 |
KEY EXECUTIVES
|
Name : |
Beni Prasad Rauka |
|
Designation : |
Secretary |
|
Address : |
Ivy B-802, Vasavasant Valley, Near Dindoshi, Depot, Malad (East),
Mumbai – 400094, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1964 |
|
Date of Appointment : |
02.09.2002 |
|
PAN No.: |
ABKPR5067M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 01.08.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 01.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
56.01 |
|
Bodies corporate |
|
28.10 |
|
Directors or relatives of directors |
|
4.70 |
|
Other top fifty shareholders |
|
6.02 |
|
Others |
|
5.17 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Sales of
Enzymes. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · DBS Bank Limited, 3rd Floor, Fort House, Dr. D N Road, Fort, Mumbai - 400001, Maharashtra, India · Indusind Bank Limited, 2401 Gen Thimmayya Road, Contonment, Pune - 411001, Maharashtra, India · HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India · Citibank N. A., Citigroup Centre, Bandra Kurla Complex, Mumbai - 400051, Maharashtra, India · ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker, Chandiok and Company Chartered Accountants |
|
Address : |
16th Floor, Tower II, |
|
|
|
|
Subsidiary Company
: |
· Advanced Bio-Proteins Limited CIN No.: U15400MH2010PLC205679 · Advanced Bio-Agro Tech Limited CIN No.:U24100MH2004PLC149464 · Advanced EnzyTech Solutions Limited CIN No.:U24200MH2008PLC186383 · Advanced Enzyme Europe BV. · Advanced Enzyme Far East Limited · Advanced Enzymes USA |
|
|
|
|
Fellow Subsidiary
Company : |
· Advanced Supplementary Technologies Corporation · Cal India Foods International |
|
|
|
|
Associate : |
· Advanced Vital Enzymes Limited CIN No.:U24230MH2005PLC151389 · Atharva Capital Ventures Private Limited CIN No.:U65993MH1993PTC073191 · Chandrakant Rathi Finance And Investment Company Private Limited CIN No.:U99999MH1994PTC081231 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21765600 |
Equity Shares |
Rs.10/- each |
Rs.217.656 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
217.656 |
207.312 |
207.312 |
|
(b) Reserves & Surplus |
1088.541 |
602.840 |
419.361 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
1306.197 |
810.152 |
626.673 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
269.353 |
343.564 |
369.905 |
|
(b) Deferred tax liabilities (Net) |
132.190 |
64.181 |
70.063 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
401.543 |
407.745 |
439.968 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
234.670 |
328.228 |
267.578 |
|
(b) Trade payables |
177.905 |
172.340 |
84.768 |
|
(c) Other current liabilities |
156.155 |
144.071 |
64.924 |
|
(d) Short-term provisions |
54.707 |
55.962 |
26.696 |
|
Total Current
Liabilities (4) |
623.437 |
700.601 |
443.966 |
|
|
|
|
|
|
TOTAL |
2331.177 |
1918.498 |
1510.607 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1137.780 |
475.375 |
505.045 |
|
(ii) Intangible Assets |
0.166 |
0.634 |
1.936 |
|
(iii) Capital work-in-progress |
0.527 |
591.499 |
188.437 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
279.624 |
137.202 |
48.742 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
120.286 |
120.495 |
198.168 |
|
(e) Other Non-current assets |
10.915 |
0.886 |
0.020 |
|
Total Non-Current
Assets |
1549.298 |
1326.091 |
942.348 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
356.298 |
198.214 |
163.262 |
|
(c) Trade receivables |
335.002 |
282.126 |
218.703 |
|
(d) Cash and cash equivalents |
16.451 |
32.985 |
99.135 |
|
(e) Short-term loans and advances |
71.374 |
78.650 |
87.159 |
|
(f) Other current assets |
2.754 |
0.432 |
0.000 |
|
Total Current
Assets |
781.879 |
592.407 |
568.259 |
|
|
|
|
|
|
TOTAL |
2331.177 |
1918.498 |
1510.607 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1416.367 |
1129.512 |
1113.248 |
|
|
|
Other Income |
21.141 |
35.752 |
14.612 |
|
|
|
TOTAL (A) |
1437.508 |
1165.264 |
1127.860 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
512.681 |
395.469 |
401.319 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(85.408) |
(38.566) |
57.211 |
|
|
|
Employee benefit expense |
152.691 |
126.426 |
107.342 |
|
|
|
Other expenses |
430.187 |
342.916 |
298.605 |
|
|
|
Prior period items |
0.000 |
0.237 |
0.000 |
|
|
|
Extraordinary items |
0.000 |
1.507 |
0.000 |
|
|
|
TOTAL (B) |
1010.151 |
827.989 |
864.477 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
427.357 |
337.275 |
263.383 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.775 |
36.985 |
21.819 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
389.582 |
300.290 |
241.564 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
69.554 |
52.079 |
47.510 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
320.028 |
248.211 |
194.054 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
85.777 |
40.638 |
18.728 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
234.251 |
207.573 |
175.326 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
579.000 |
395.500 |
232.298 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
11.700 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
38.200 |
24.100 |
12.087 |
|
|
BALANCE CARRIED
TO THE B/S |
763.300 |
579.000 |
395.537 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.99 |
10.01 |
8.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
16.30 |
17.81 |
15.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.59 |
21.98 |
17.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.60 |
20.86 |
15.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.31 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.39 |
0.83 |
1.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
0.85 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
101.584 |
94.297 |
6.250 |
|
|
|
|
|
|
Total |
101.584 |
94.297 |
6.250 |
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
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Bench:- Bombay |
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Lodging No:- |
ITXAL/1162/2013 |
Failing Date:- |
11/10/2013 |
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Petitioner:- |
COMMISSIONER OF INCOME TAX, THANE-1 |
Respondent:- |
ADVANCED ENZYME TECHNOLOGIES LTD |
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Petn.Adv:- |
SURESH KUMAR |
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District:- |
THANE |
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Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
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Status:- |
Pre-Admission |
Stage:- |
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Last Date:- |
18/10/2013 |
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Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
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Act:- |
Income Tax Act, 1961 |
Under Section :- |
260A |
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UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Deferred payment liabilities |
61.725 |
66.592 |
|
Deposits from directors |
10.211 |
1.365 |
|
Deposits from shareholders |
2.150 |
2.150 |
|
Intercorporate deposits |
8.900 |
2.300 |
|
Deposits from others |
1.165 |
0.680 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Deposits from directors |
0.000 |
8.846 |
|
Deposits from shareholders |
0.300 |
0.750 |
|
Intercorporate deposits |
0.000 |
9.100 |
|
Deposits from others |
0.350 |
0.835 |
|
Loans and advances from related parties |
0.245 |
0.246 |
|
|
|
|
|
Total |
85.046 |
92.864 |
Note:
The Registered Office of the company has been shifted from 106,
Dhanlaxmi Industries Estate, L B S Marg, Thane (West), Thane – 400601, Maharashtra,
India to the present address w.e.f. 03.10.2006
FUTURE OUTLOOK
During the year “Advanced Enzymes U.S.A”, a wholly owned subsidiary of the Company, acquired Advanced Supplementary Technologies Corporation (‘AST Enzymes’). The company had also acquired the business of Cal India Foods International doing business as Specialty Enzymes and Biotechnologies (SEB) in previous financial year 2011-12; with these acquisitions the Company had got a 100% subsidiary in USA with its step down subsidiaries. As a result of the recent acquisition of SEB and AST Enzymes, both based in California, United States, our customer base has substantially increased enabling us to directly cater to the various clients in North American market. In Fiscal 2013, the North American and the European market account for about 51 % of our total sales.
Additionally, they seek to enhance our presence in the European market, for which they have already set-up a subsidiary in Netherlands viz., Advanced Enzyme Europe B.V., and have also started hiring sales and marketing personnel to better serve to European customers.
Company has submitted its Draft Red Herring Prospectus (DRHP) to SEBI on 28th March 2013 for its maiden IPO, the same can be downloaded from website of the Company and also available at SEBI website.
CONTINGENT LIABILITIES
(Rs. In Millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
|
Claims against the company
not acknowledged as debt |
97.401 |
2.746 |
|
Estimated amount of
contracts remaining to be executed on capital account and not provided for |
5.069 |
6.025 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10433741 |
11/06/2013 |
50,000,000.00 |
DBS BANK LTD. |
3RD FLOOR, FORT HOUSE, DR. D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B78255262 |
|
2 |
10340140 |
27/01/2012 |
75,000,000.00 |
INDUSIND BANK LTD. |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
B34106872 |
|
3 |
10287286 |
11/05/2011 |
276,000,000.00 |
DBS Bank Limited |
5TH FLOOR, FORT HOUSE, 221,DR. D. N.ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B13055983 |
|
4 |
10213948 |
26/08/2013 * |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B83067314 |
|
5 |
10043837 |
01/06/2012 * |
697,500,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BAN |
B41279308 |
|
6 |
10021925 |
29/12/2010 * |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B04084968 |
|
7 |
90146880 |
03/05/2012 * |
200,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA- 400051, INDIA |
B40816787 |
* Date of charge modification
FIXED ASSETS:
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Leasehold Improvements
·
Computer
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] 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.61.87 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Information Gathered
by : |
NAY |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
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 |
|
46 |
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.