|
Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ICMC CORPORATION LIMITED |
|
|
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Registered
Office : |
36, Ambattur Industrial Estate, Chennai – 600058, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.01.1995 |
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Com. Reg. No.: |
18-029929 |
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Capital
Investment / Paid-up Capital : |
Rs. 62.637
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24294TN1995PLC029929 |
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|
|
TAN No. [Tax
Deduction & Collection Account No.]: |
CHE102341D |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturers of Intermediates, Catalysts and Enzyme. |
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|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4300000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Latest
financials i.e. 2011-2012 are missing from the government department. From the
previous year record, it seems that the company has recorded some accumulated
losses. However, trade relations are reported as fair. Business is active.
Payments terms are unknown. The company can be considered for business dealing with some caution |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A3 (Short term facilities) |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk |
|
Date |
13.10.2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
BBB- (Term Loan) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk |
|
Date |
13.10.2011 |
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.
LOCATIONS
|
Registered Office / Factory 1 : |
36, Ambattur Industrial Estate, Chennai – 600058, |
|
Tel. No.: |
91-44-42298700 / 42298701 |
|
Fax No.: |
91-44-42298705 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
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|
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Admin Office: |
I/3, Industrial Estate Ariyamanglam, Trichy – 620010, Tamil Nadu,
India |
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Tel. No.: |
91-431-2441208 |
|
E-Mail : |
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Factory 2: |
Adinath Food Industrial Compound, Village Bagnbania, Nalagarh – 174101,
District Solan, Himachal Pradesh, India |
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Tel. No.: |
91-44-42080531 |
|
E-Mail : |
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Factory 3: |
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Tel. No.: |
91-4147-241303 |
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Factory 4: |
1/5, Industrial Estate, Ariyamanglam, Trichy – 620010, Tamilnadu,
India |
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Tel. No.: |
91-431-244918 |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Kannan Mahadevan |
|
Designation : |
Managing Director |
|
Address : |
24, Yogambal Street, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Date of Birth : |
06.02.1969 |
|
Qualification : |
BE |
|
Date of
Appointment : |
24.01.1995 |
|
DIN No.: |
00982521 |
|
|
|
|
Name : |
Mr. Ravi Mahadevan |
|
Designation : |
Director |
|
Address : |
40 – 41, Gandhi Nagar, Ponnagar, Trichy – 620001, Tamilnadu, India |
|
Date of Birth : |
04.04.1960 |
|
Qualification : |
M.Com |
|
DIN No.: |
00982588 |
|
|
|
|
Name : |
Mr. Mahadevan Ganpathy Subramniya |
|
Designation : |
Director |
|
Address : |
40 – 41, Gandhi Nagar, Ponnagar, Trichy – 620001, Tamilnadu, India |
|
Date of Birth : |
08.11.1956 |
|
DIN No.: |
02478891 |
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|
|
|
Name : |
Mrs. M. Mahalakshmi |
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Designation : |
Director |
|
Address : |
40 – 41, Gandhi Nagar, Ponnagar, Trichy – 620001, Tamilnadu, India |
|
Date of Birth : |
14.10.1961 |
|
|
|
|
Name : |
Mrs. S. G. Ahilandam |
|
Designation : |
Director |
|
Address : |
40 – 41, Gandhi Nagar, Ponnagar, Trichy – 620001, Tamilnadu, India |
|
Date of Birth : |
05.11.1927 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
M. Kannan |
|
2905920 |
|
M. Ravi |
|
2905920 |
|
M. Ganapathy Subramanian |
|
180510 |
|
S. G. Ahilandam |
|
155840 |
|
M. Mahalakshmi |
|
115210 |
|
S. Kalayani Rani |
|
150 |
|
Bhuvana Kannan |
|
150 |
|
TOTAL |
|
6263700 |
As on 29.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Intermediates, Catalysts and Enzyme. |
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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 Retailers |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
State Bank of
Mauritius Limited, Prince Arcade, 22A, Cathedral Road, Chennai – 600086,
Tamil Nadu, India |
||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
A.Ramachandran and Associates Chartered Accountants |
|
Address : |
Mylapore, Chennai-600004, Tamilnadu, India |
|
PAN No.: |
AAIPJ1192J |
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|
|
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Associates/Subsidiaries : |
U74899DL1987PTC027310
U55101TN2005PTC055977 |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6263700 |
Equity Shares |
Rs.10/- each |
Rs. 62.637
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
62.637 |
62.637 |
62.637 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(18.654) |
(29.177) |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(46.933) |
|
|
NETWORTH |
43.983 |
33.460 |
15.704 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
587.540 |
602.957 |
510.444 |
|
|
2] Unsecured Loans |
38.173 |
35.787 |
23.021 |
|
|
TOTAL BORROWING |
625.713 |
638.744 |
533.465 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
669.696 |
672.204 |
549.169 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
266.573 |
276.003 |
306.134 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
44.121 |
42.876 |
42.876 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
92.056
|
68.299 |
78.086 |
|
|
Sundry Debtors |
317.353
|
372.208 |
134.932 |
|
|
Cash & Bank Balances |
30.300
|
18.459 |
19.175 |
|
|
Other Current Assets |
0.524 |
0.524 |
10.956 |
|
|
Loans & Advances |
61.485
|
41.241 |
22.458 |
|
Total
Current Assets |
501.718
|
500.731 |
265.607 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
149.642
|
155.526 |
76.590 |
|
|
Other Current Liabilities |
0.081
|
0.081 |
1.681 |
|
|
Provisions |
5.985
|
6.956 |
4.499 |
|
Total
Current Liabilities |
155.708
|
162.563 |
82.770 |
|
|
Net Current Assets |
346.010
|
338.168 |
182.837 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
12.992 |
15.157 |
17.322 |
|
|
|
|
|
|
|
|
TOTAL |
669.696 |
672.204 |
549.169 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
980.797 |
669.664 |
527.016 |
|
|
|
Other Income |
48.098 |
132.494 |
22.956 |
|
|
|
TOTAL (A) |
1028.895 |
802.158 |
549.972 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
642.003 |
425.169 |
298.535 |
|
|
|
Manufacturing Service Costs |
151.003 |
116.746 |
125.086 |
|
|
|
Employee Related Expenses |
1.731 |
52.500 |
0.000 |
|
|
|
Administrative Selling Other Expenses |
120.325 |
86.028 |
57.779 |
|
|
|
TOTAL (B) |
915.062 |
680.443 |
481.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
113.833 |
121.715 |
68.572 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
70.586 |
66.993 |
64.451 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
43.247 |
54.722 |
4.121 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
32.724 |
36.967 |
42.397 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.523 |
17.755 |
(38.276) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.516 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.523 |
17.755 |
(38.792) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.523 |
17.755 |
(38.792) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.68 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.02
|
2.21 |
(7.05) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.07
|
2.65 |
6.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.37
|
2.29 |
(6.69) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.53 |
(2.44) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
17.77
|
23.95 |
39.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.22
|
1.48 |
3.21 |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS
During the year, the Company has earned a Profit of Rs. 10.500 Millions
and expect the prospects to be very good during the next year.
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
From Directors |
38.173 |
35.787 |
|
Total |
38.173 |
35.787 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24294TN1995PLC029929 |
|
Name of the
company |
ICMC CORPORATION LIMITED |
|
Address of the
registered office or of the principal place of business in |
36, Ambattur Industrial Estate, Chennai – 600058, |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
80020442 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of Mauritius
Limited, Prince Arcade, 22A, Cathedral Road, Chennai – 600086, Tamil Nadu,
India Email: sbml@md2.vsnl.net.in |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of Hypothecation
,Memorandum of Extension of Mortgage
by deposit of title deeds |
|
Date of
instrument Creating the charge |
20.01.2012 |
|
Amount secured by
the charge |
Rs. 367.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest SBM Base Rate
plus 4%,presently 14.75% P.A morefully described in the agreement (rate of interest is subject to change by
the bank from time to time) Terms of Repayment
As per the agreement Margin As per the agreement Extent and
Operation of the charge ranking pari
passu with other working capital lenders- Indian Bank and Lakshmi Vilas Bank Others Charge amount of
Rs.367.50 Million comprising CC - Rs.130.5 Million , WCDL -Rs.162Million and LC/BG - Rs.75 Million . All other terms
and conditions are as per the agreement. |
|
Short particulars
of the property charged |
Whole of the existing
securities including those acquired and or to be acquired out of the enhanced
limits made available now, Including first
charge on the entire current assets and the fixed assets (except those
specifically charged) of all the 3 divisions of the company,Equitable
Mortgage of 3 land and Building at
Shed No. I/3,I/5, J at
Ariyamangalam Indl. Estate,Trichy,Commercial premises at F-29,1st Floor,Spencer Plaza,Anna Salai, Chennai,
Equitable mortgage of 12.92 acres of land at Mailam owned by Mr.Kannan and Mrs. Mahalakshmi
and factory building thereon owned by
the company, Equitable mortgage of 1 acre in plot No.36A and B at Ambattur Industrial Estate in Saidapet
Taluk, Chinglepet Equitable
mortgage of Land and Building at 40-41,Gandhi Nagar,Trichy in the name of
Mrs. S.G.Ahilanndam Morefully
described in the documents enclosed. These are in addition to all other
existing securities |
|
Date of latest
modification prior to the present modification |
02.03.2010 |
|
Particulars of the
present modification |
Credit limit
enhanced to Rs.367.500 Millions and
secured by the properties given above more fully described in the
documents enclosed. All other terms and conditions of the original charge and
the subsequent modifications remain unchanged. |
FIXED ASSETS:
AS PER WEBSITE DETAILS
PROFILE
At ICMC Quality, Timely Delivery and Service are the cornerstones of the
business philosophy. They bring together our Suppliers, Customers and
Employees, forming a Partnership towards continuous improvement in every work
process while this complex task is being accomplished gradually.
Subject\ was established in 1971 at Trichy to manufacture Agro-based
Chemicals. Over the last 4 decades, ICMC has diversified to include
In 1992, Turnkey Projects and Civil Construction wing of ICMC was
established. The professionals of the civil andstructural of this division has
helped the organization to get prestigious orders like
In keeping with the time, the Printing and Packaging division of ICMC
was established in 1998. State-of-the-art equipment make the packaging items
produced by this division make both competitive and “world class”. The
facilities available at this division makes a One Stop Shope for the customers
for any Printing and Packaging needs
With a net worth of around 250.000 Millions rupees and an annual turnover
of around 1000.000 Millions rupees, the ICMC group companies have shown an
annual growth rate of about 25% with offices and factories in major towns in
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. 53.57 |
|
|
1 |
Rs. 84.37 |
|
Euro |
1 |
Rs. 72.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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.