MIRA
INFORM REPORT
|
Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
VISWAAT CHEMICALS LIMITED |
|
|
|
|
Formerly Known
As : |
VISWAAT CHEMICALS PRIVATE LIMITED (w.e.f.09.12.1997) VISWAT CHEMICALS DEALERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Viswaat 7, Satsang Complex, Upper Govind Nagar, L S Raheja Marg, Malad
(East), Mumbai – 400097, Maharashtra |
|
|
|
|
Country : |
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|
|
|
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Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.07.1996 |
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|
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Com. Reg. No.: |
11-100815 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 43.410
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51496MH1996PLC100815 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV09746C |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACV4184B |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Speciality Chemicals for Leather,
Textile, Pharmaceuticals, Cosmetics, Refinery, Paints and Speciality
Surfactants. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
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 916000 |
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|
|
|
Status : |
Satisfactory |
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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, profitability of the company seems
to be fair. General financial position of the company appears to be sound and
healthy. 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.
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 |
Long term rating : BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
July 12, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
July 12, 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 : |
Mr. Bhaskar Shetty |
|
Designation : |
Director |
|
Contact No.: |
91-9821417280 |
|
Date : |
26.12.2013 |
LOCATIONS
|
Registered / Corporate Office : |
Viswaat 7, Satsang Complex, Upper Govind Nagar, L S Raheja Marg, Malad
(East), Mumbai – 400097, Maharashtra, India |
|
Tel. No.: |
91-22-32452211/ 28740365/ 2341/ 32409612/
30052255 |
|
Mobile No.: |
91-9821417280 (Mr. Bhaskar Shetty) |
|
Fax No.: |
91-22-28745321 |
|
E-Mail : |
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|
Website : |
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|
Area : |
1700 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. N1, Additional Ambernath MIDC, Anand Nagar, Thane – 421506,
Maharashtra, India |
|
Tel. No.: |
91-251-2620046/ 48 |
|
|
|
|
Regional Office : |
12th Avenue, Ashok Nagar, Chennai – 600083, Tamilnadu,
India |
|
Tel. No.: |
91-44-24741503/ 39131203 |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Vinesh Vivek Shetty |
|
Designation : |
Managing director |
|
Address : |
902, Beach Classic, Versova, Seven Bunglows, Andheri (West), Mumbai –
400061, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1979 |
|
Qualification : |
B.Com, MBA |
|
Date of Appointment : |
15.07.2011 |
|
PAN No.: |
AVKPS0666D |
|
DIN No.: |
00474985 |
|
|
|
|
Name : |
Mr. Vipin Kumar Jain |
|
Designation : |
Director |
|
Address : |
43, Venus, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
04.08.1966 |
|
Date of Appointment : |
29.09.1997 |
|
DIN No.: |
00165410 |
|
|
|
|
Name : |
Mr. Bhaskar Monu Shetty |
|
Designation : |
Whole-time director |
|
Address : |
1101, Wellington, Hiranandani Estate, Patlipada, Thane (West) –
400607, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1957 |
|
Qualification : |
M.Com, DFM, DMM,
LLB |
|
Date of Appointment : |
27.01/2009 |
|
PAN No.: |
AAEPS7364P |
|
DIN No.: |
00347059 |
|
|
|
|
Name : |
Hari Prasanna Shetty |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 305, Building No. 2, Dheeraj Enclave, Opposite W E Highway, Borivali
(East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1965 |
|
Qualification : |
B.E (Mech, MFM) |
|
Date of Appointment : |
15.07.2011 |
|
PAN No.: |
AECPS2770K |
|
DIN No.: |
00475019 |
|
|
|
|
Name : |
Mr. Haridwar Singh |
|
Designation : |
Director |
|
Address : |
32, Vigyan Nagar Society, Bavdhan Khurd, NDA Road, Pune – 411021,
Maharashtra, India |
|
Date of Birth/Age : |
31.03.1944 |
|
Qualification : |
M.Sc, PHD |
|
Date of Appointment : |
24.07.2006 |
|
DIN No.: |
00475047 |
|
|
|
|
Name : |
Bollya Vivek Shetty |
|
Designation : |
Whole-time director |
|
Address : |
902, Beach
Classic, Versova Seven Bungalows, Andheri-West, Mumbai, Maharashtra,
India |
|
Date of Birth/Age : |
03.10.1949 |
|
Qualification : |
M.Com |
|
Date of Appointment : |
02.07.2010 |
|
PAN No.: |
AAKPS5390R |
|
DIN No.: |
00947091 |
|
|
|
|
Name : |
Mr. Arvind Inder Malhotra |
|
Designation : |
Director |
|
Address : |
703, Shreenathji, 16, Cross Road, Khar, Mumbai – 400052, Maharashtra,
India |
|
Date of Birth/Age : |
25.01.1947 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.08.2000 |
|
PAN No.: |
AAGPM0682C |
|
DIN No.: |
01312057 |
|
|
|
|
Name : |
Mr. Venkatesh Charan |
|
Designation : |
Director |
|
Address : |
# 460, 11th Main,
R M V Extn, Sadashivanagar, 023 Bangalore, Karnataka, India |
|
Date of Birth/Age : |
05.04.1980 |
|
Qualification : |
B. com (PGDMS) |
|
Date of Appointment : |
22.09.2011 |
|
PAN No.: |
AFEPC4073N |
|
DIN No.: |
03093496 |
|
|
|
|
Name : |
Mr. Shashikant Shetty |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 27.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
76.68 |
|
Directors
or relatives of directors |
|
21.51 |
|
Other
top fifty shareholders |
|
1.81 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Speciality Chemicals for Leather,
Textile, Pharmaceuticals, Cosmetics, Refinery, Paints and Speciality
Surfactants. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Indonesia UAE China Turkey They export
to more than 20 countries. |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Malaysia Korea Taiwan |
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Terms : |
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Selling : |
L/C, Cash, Credit and CAD |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production Kgs. |
|
Speciality Chemicals |
MT |
720 |
720 |
1335980 (including
captive consumption of 860730 kgs and previous year 194964 kgs) |
|
Surfactants |
MT |
6000 |
6000 |
8447221
(including captive consumption of 3536991 kgs and previous year 1504321 kgs ) |
|
Leather Chemicals |
MT |
12000 |
12000 |
10365413 (including
captive consumption of 4815365 kgs and previous year 3900380kgs) |
|
Textile Chemicals |
MT |
4800 |
4800 |
3057141
(including captive consumption of 409471kgs and previous year 1046297kgs ) |
|
Others |
-- |
-- |
-- |
1991286 |
GENERAL INFORMATION
|
Suppliers : |
Reliance Industries Limited |
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Customers : |
End Users · Huntsman India Private Limited |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
· Bank of Maharashtra, Dr. Ambedkar Road Branch, 167/A, Poonawadi, Mumbai - 400014, Maharashtra, India Bank of Baroda |
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Facilities : |
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. K. Shetty and
Associates Chartered Accountants |
|
Address : |
D-101, Galaxy
Heights, Goregaon Link Road, Opposite Bangur Nagar, Goregaon West, Mumbai –
400104, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS5141D |
CAPITAL STRUCTURE
AFTER 27.09.2012
Authorised Capital : Rs.
50.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 49.519
Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,340,997 |
Equity Shares |
Rs. 10/- each |
Rs. 43.410
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 |
|
43.410 |
40.361 |
|
(b) Reserves & Surplus |
|
185.641 |
145.937 |
|
(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) |
|
229.051 |
186.298 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
76.148 |
59.444 |
|
(b) Deferred tax liabilities (Net) |
|
21.017 |
18.011 |
|
(c) Other long
term liabilities |
|
24.671 |
19.905 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
121.836 |
97.360 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
233.396 |
153.893 |
|
(b)
Trade payables |
|
181.259 |
131.606 |
|
(c)
Other current liabilities |
|
67.166 |
49.974 |
|
(d) Short-term
provisions |
|
10.627 |
12.853 |
|
Total Current
Liabilities (4) |
|
492.448 |
348.326 |
|
|
|
|
|
|
TOTAL |
|
843.335 |
631.984 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
226.097 |
209.439 |
|
(ii)
Intangible Assets |
|
0.601 |
0.000 |
|
(iii)
Capital work-in-progress |
|
35.510 |
4.482 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
10.928 |
0.422 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
13.781 |
8.991 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
286.917 |
223.334 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
98.868 |
65.897 |
|
(c)
Trade receivables |
|
397.120 |
311.075 |
|
(d) Cash
and cash equivalents |
|
34.766 |
7.306 |
|
(e)
Short-term loans and advances |
|
23.151 |
24.054 |
|
(f)
Other current assets |
|
2.513 |
0.318 |
|
Total
Current Assets |
|
556.418 |
408.650 |
|
|
|
|
|
|
TOTAL |
|
843.335 |
631.984 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
33.791 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
98.530 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
132.321 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
189.805 |
|
|
2] Unsecured Loans |
|
|
26.301 |
|
|
TOTAL BORROWING |
|
|
216.106 |
|
|
DEFERRED TAX LIABILITIES |
|
|
11.696 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
360.123 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
142.141 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.422 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
52.593
|
|
|
Sundry Debtors |
|
|
229.034
|
|
|
Cash & Bank Balances |
|
|
38.497
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
18.957
|
|
Total
Current Assets |
|
|
339.081 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
106.956 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
14.565 |
|
Total
Current Liabilities |
|
|
121.521 |
|
|
Net Current Assets |
|
|
217.560 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
360.123 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1462.847 |
1161.650 |
955.799 |
|
|
|
Other Income |
2.643 |
2.173 |
1.595 |
|
|
|
TOTAL (A) |
1465.490 |
1163.823 |
957.394 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1153.123 |
899.725 |
|
|
|
|
Purchases of stock-in-trade |
15.310 |
2.300 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(28.779) |
(16.111) |
|
|
|
|
Employee benefit
expense |
92.400 |
74.697 |
|
|
|
|
Other expenses |
118.962 |
111.792 |
|
|
|
|
TOTAL (B) |
1351.016 |
1072.403 |
887.802 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
114.474 |
91.420 |
69.592 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
41.323 |
25.463 |
20.906 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
73.151 |
65.957 |
48.686 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.032 |
13.652 |
11.046 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
56.119 |
52.305 |
37.640 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
18.478 |
17.570 |
13.211 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
37.641 |
34.735 |
24.429 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
120.809 |
89.827 |
68.550 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
N.A. |
3.229 |
2.703 |
|
|
|
Tax on Dividend |
|
0.524 |
0.449 |
|
|
BALANCE CARRIED
TO THE B/S |
N.A. |
120.809 |
89.827 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
339.041 |
157.589 |
49.623 |
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
9.32 |
10.27 |
7.23 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
2000.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs. 2500.000 Millions
The above information has been parted by Mr. Bhaskar Shetty (Director)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.57
|
2.98 |
2.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.84
|
4.50 |
3.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.04
|
8.34 |
7.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.28 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.35
|
1.15 |
1.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.17 |
2.79 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
24.402 |
20.513 |
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 |
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
three 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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
10317299 |
19/10/2011 |
20,000,000.00 |
BANK OF MAHARASHTRA |
DR. AMBEDKAR ROAD BRANCH, RAJA SHIVAJI VIDYALAYA, HINDU COLONY, SIX LANE, DADAR (EAST), MUMBAI - 400014, MAHARASHTRA, INDIA |
B25171448 |
|
2 |
90158225 |
20/06/2008 * |
149,900,000.00 |
BANK OF MAHARASHTRA |
DR.AMBEDKAR ROAD BRANCH, RAJA SHIVAJI VIDYA SANKUL, HINDU COLONY, SIX LANE, DADAR (EAST), MUMBAI - 400014, MAHARASHTRA, INDIA |
A50264977 |
|
3 |
90155402 |
10/10/2013 * |
633,600,000.00 |
BANK OF MAHARASHTRA |
DR.AMBEDKAR ROAD BRANCH, 167/A, POONAWADI, MUMBAI - 400014, MAHARASHTRA, INDIA |
B87269296 |
|
4 |
90157999 |
21/08/2002 |
9,000,000.00 |
ORIENTAL BANK OF COMMERCE |
BOMBAY BAZAR BUILDING, MUMBAI - 400054, MAHARASHTRA, INDIA |
- |
|
5 |
90157426 |
24/02/2000 |
400,000.00 |
ORIENTAL BANK OF COMMERCE |
BOMBAY BAZAR BUILDING, MUMBAI - 400054, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
5.000 |
7.500 |
|
Loans and advances from related parties |
0.000 |
0.073 |
|
|
|
|
|
Total |
5.000 |
7.573 |
CHANGE OF ADDRESS:
The registered office of the company has been shifted from 'Triveni Mith
Chowki, Malad-Marve Road, Malad (East), Mumbai – 400064, Maharashtra, India to
the present w.e.f.20.09.2007
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. in Millions) |
|
|
Bank Guarantee |
6.718 |
6.718 |
|
|
|
|
TRADE REFERENCES
· Reliance Industries Limited
Huntsman
India Private Limited
FIXED ASSETS:
Ø
Land
Ø
Buildings
Ø
Office building
Ø
Other building
Ø
Plant and equipment
Ø
Factory equipments
Ø
Other plant and equipment
Ø
Furniture and fixtures
Ø
Vehicles
Ø
Motor vehicles
Ø
Office equipment
Ø
Other equipments
Ø
Computer software
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. 61.87 |
|
|
1 |
Rs. 101.10 |
|
Euro |
1 |
Rs. 84.65 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.