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Report Date : |
12.07.2013 |
IDENTIFICATION DETAILS
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Name : |
ALCHEMIE EUROPE LTD. |
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Registered Office : |
7-9 St Mary's Place Bury, BL9 0DZ |
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Country : |
United Kingdom |
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Financials (as on) : |
30.11.2011 |
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Date of Incorporation : |
25.05.1995 |
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Com. Reg. No.: |
03061267 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of chemical products |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED KINGDOM - ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the
second largest economy in Europe after Germany. Over the past two decades, the
government has greatly reduced public ownership and contained the growth of
social welfare programs. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance,
and business services, account by far for the largest proportion of GDP while
industry continues to decline in importance. After emerging from recession in
1992, Britain's economy enjoyed the longest period of expansion on record
during which time growth outpaced most of Western Europe. In 2008, however, the
global financial crisis hit the economy particularly hard, due to the
importance of its financial sector. Sharply declining home prices, high
consumer debt, and the global economic slowdown compounded Britain's economic
problems, pushing the economy into recession in the latter half of 2008 and
prompting the then BROWN (Labour) government to implement a number of measures
to stimulate the economy and stabilize the financial markets; these include
nationalizing parts of the banking system, temporarily cutting taxes,
suspending public sector borrowing rules, and moving forward public spending on
capital projects. Facing burgeoning public deficits and debt levels, in 2010
the CAMERON-led coalition government (between Conservatives and Liberal
Democrats) initiated a five-year austerity program, which aimed to lower
London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In
November 2011, Chancellor of the Exchequer George OSBORNE announced additional
austerity measures through 2017 because of slower-than-expected economic growth
and the impact of the euro-zone debt crisis. The CAMERON government raised the
value added tax from 17.5% to 20% in 2011. It has pledged to reduce the
corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an
asset purchase program of up to £375 billion (approximately $605 billion) as of
December 2012. During times of economic crisis, the BoE coordinates interest
rate moves with the European Central Bank, but Britain remains outside the
European Economic and Monetary Union (EMU). In 2012, weak consumer spending and
subdued business investment weighed on the economy. GDP fell 0.1%, and the
budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued
to increase.
Source
: CIA
Alchemie Europe Ltd.
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Business
Description
|
Overview Introduction to Aarti Group Aarti has started its operations
in the year 1975 in the name of alchemie labs in a small of way with a single
product namely Dimentyl sulphate. Today Aarti is One of the leading supplier
to global manufacturers of Dyes, Pigments, Agrochemicals, Pharmaceuticals
& rubber chemicals. Aarti has acquired world-class expertise in the
development & manufacture of these chemicals. Aarti is amongst the
largest producers of Benzene based basic and intermediate chemicals in India.
It has corporate office in Mumbai & representatives in U.S.A & Europe
. Aarti has 16 manufacturing units spread across Gujarat & Maharashtra
and a strong Research & Development with sophisticated instruments &
pool of scientists. Aarti has strong Research & Development center with
sophisticated instruments & pool of scientists. Aarti has customers
spread across the globe in 60 countries with major presence in USA, Europe,
Japan & India. AARTI has attained a group turnover of US $ 515 million in
the year April 2009 - March 2010. AARTI group is strategically placed to
exploit growth opportunities in the Chemical Industry. In view of its
technical expertise and broad base satisfied clientele in India and abroad,
AARTI is looking for global partners and strategic alliances in areas of
mutual interest viz. Development of International markets for AARTI's
products. Toll manufacturing. Transfer of Technology / Technical know-how.
AARTI INDUSTRIES LIMITED (AIL) & AARTI DRUGS LIMITED (ADL) are listed on
Stock Exchanges. AARTI has a Subsidiary AARTI HEALTHCARE LIMITED (AHCL),
which is engaged in manufacturing of Active pharma ingredients ranging from
Ace Inhibitors, Broncodialators to Steroids. |
Industry
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Industry |
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ANZSIC 2006: |
3323 - Industrial and Agricultural Chemical Product
Wholesaling |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
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Key Executives
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Financial
Summary
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1 - Profit & Loss
Item Exchange Rate: USD 1 = GBP 0.6238039
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6358088
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Alchemie Europe Ltd.
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Mumbai |
India |
Chemical Manufacturing |
350.1 |
1,250 |
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Branch |
Mumbai, Maharashtra |
India |
Chemical Manufacturing |
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1,000 |
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Division |
Mumbai, Maharashtra |
India |
Biotechnology and Drugs |
|
200 |
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Subsidiary |
Bury |
United Kingdom |
Chemical Manufacturing |
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Division |
Mumbai, Maharashtra |
India |
Business Services |
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Executives Report
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Annual Return Date: 25 May 2013
Total Issued Capital (GBP 000): 50
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
15 Dec 1959 |
Antariksha 14Th Floor, Murar Road Mulund West, |
10 Aug 1995 |
NA |
Current:1 |
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Current |
09 Jan 1958 |
301 Sheetal, Edulji Road, |
10 Aug 1995 |
NA |
Current:1 |
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Current |
13 Feb 1954 |
6 Heaton Grove, Heaton Court, |
26 May 1995 |
NA |
Current:5 |
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Previous |
04 Oct 1952 |
7-9 St Mary's Place, Bury, |
15 Oct 2012 |
23 May 2013 |
Current:1 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Deansgate Company Formations Limited |
Previous |
Black Bull House 353-355 Station Road, Bamber Bridge, |
25 May 1995 |
26 May 1995 |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
NA |
7-9 St Mary's Place, Bury, |
23 May 2013 |
NA |
Current:1 |
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Previous |
04 Oct 1952 |
7-9 St Mary's Place, Bury, |
26 May 1995 |
23 May 2013 |
Current:1 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Britannia Company Formations Limited |
Previous |
The Britannia Suite International House, 82-86 Deansgate, |
25 May 1995 |
26 May 1995 |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
Aarti Industries Ltd |
40000 Ordinary GBP 1.00 |
Ordinary |
40,000 |
1.00 |
40,000.00 |
80.00 |
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Corporate Shareholders |
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
02172224 |
10000 Ordinary GBP 1.00 |
Ordinary |
10,000 |
1.00 |
10,000.00 |
20.00 |
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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|
30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
30-Nov-2008 |
30-Nov-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.623804 |
0.645475 |
0.646269 |
0.530439 |
0.50098 |
|
Consolidated |
No |
No |
No |
No |
No |
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Gross Profit |
- |
- |
- |
0.0 |
- |
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Profit Before Taxes |
- |
- |
- |
0.0 |
- |
|
Profit After Taxes |
- |
- |
- |
0.0 |
- |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Employees |
- |
- |
- |
1 |
- |
|
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Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
30-Nov-2008 |
30-Nov-2007 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.635809 |
0.642116 |
0.609347 |
0.651699 |
0.486346 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
2.9 |
1.7 |
0.8 |
0.0 |
0.0 |
|
Total Fixed Assets |
2.9 |
1.7 |
0.8 |
0.0 |
0.0 |
|
Total Stocks |
0.5 |
0.1 |
0.4 |
1.1 |
0.9 |
|
Trade Debtors |
4.2 |
2.7 |
3.4 |
5.1 |
4.2 |
|
Inter-Company Debtors |
- |
- |
- |
0.0 |
- |
|
Cash and Equivalents |
1.0 |
0.1 |
0.0 |
0.2 |
0.5 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Total Current Assets |
5.7 |
3.0 |
3.8 |
6.6 |
5.6 |
|
Total Assets |
8.5 |
4.7 |
4.6 |
6.6 |
5.6 |
|
Trade Creditors |
8.3 |
4.6 |
0.0 |
6.1 |
5.5 |
|
Bank Overdraft |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Bank Loan Overdrafts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans |
- |
- |
- |
0.0 |
- |
|
Total Short Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Current Liabilities |
0.0 |
0.0 |
4.4 |
0.4 |
0.0 |
|
Total Current Liabilities |
0.0 |
0.0 |
4.4 |
0.4 |
0.0 |
|
Working Capital |
-2.7 |
-1.6 |
-0.6 |
0.0 |
0.1 |
|
Total Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Liabilities |
- |
- |
- |
0.0 |
- |
|
Issued Capital |
0.1 |
- |
- |
- |
- |
|
Retained Earnings |
-0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Total Reserve |
-0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Total Shareholders Funds |
0.0 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Net Worth |
0.0 |
0.1 |
0.2 |
0.1 |
0.1 |
|
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Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
30-Nov-2008 |
30-Nov-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.623804 |
0.645475 |
0.646269 |
0.530439 |
0.50098 |
|
Consolidated |
No |
No |
No |
No |
No |
|
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Net Cash Flow From Operating Activities |
- |
- |
- |
-0.1 |
- |
|
Taxation |
- |
- |
- |
0.0 |
- |
|
Paid Up Equity |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Increase in Cash |
- |
- |
- |
-0.2 |
- |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
30-Nov-2008 |
30-Nov-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
- |
- |
- |
GBP |
- |
|
Exchange Rate |
- |
- |
- |
0.651699 |
- |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
0.68 |
0.64 |
0.86 |
1.01 |
1.02 |
|
Liquidity Ratio |
0.62 |
0.61 |
0.78 |
0.84 |
0.85 |
|
Insolvency Ratio |
- |
- |
- |
15.40 |
- |
|
Solvency Ratio |
0.21% |
1.66% |
4.89% |
1.24% |
2.03% |
|
Return on Capital Employed |
- |
- |
- |
-6.49% |
- |
|
Return on Assets |
- |
- |
- |
-0.08% |
- |
|
Current Debt Ratio |
472.51 |
59.28 |
19.44 |
79.63 |
48.17 |
|
Return On Short Term Debt |
- |
- |
- |
-0.08% |
- |
|
Long Term Debt Ratio |
0.90 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Debt Ratio |
481.73 |
59.28 |
19.44 |
79.63 |
48.17 |
|
Debt Asset Ratio |
97.88% |
98.34% |
95.11% |
98.76% |
97.97% |
|
Working Finance |
3,476.97% |
- |
- |
- |
- |
|
Return on Shareholders Funds |
- |
- |
- |
-6.49% |
- |
|
Stock Financing |
-0.19 |
-0.09 |
-0.61 |
29.79 |
8.24 |
|
Fixed Asset Investment |
0.34 |
0.37 |
0.18 |
0.01 |
0.00 |
|
Shareholder Liquidity |
0.11 |
- |
- |
- |
- |
|
Post Tax Result to Net Worth |
- |
- |
- |
-3.34% |
- |
|
Post Tax Result to Total Assets |
- |
- |
- |
-0.04% |
- |
|
Post Tax Loss to Net Worth |
- |
- |
- |
-0.03 |
- |
|
Stock to Total Assets |
1,658.55% |
3,180.38% |
1,242.10% |
599.70% |
603.75% |
|
Profit per Employee |
- |
- |
- |
0.0 |
- |
|
Capital Employed per Employee |
- |
- |
- |
0.1 |
- |
|
Fixed Assets Per Employee |
- |
- |
- |
0.0 |
- |
|
Shareholders Funds Per Employee |
- |
- |
- |
0.1 |
- |
|
Financial Strength Ratio |
10.52 |
1.25 |
1.64 |
1.84 |
1.87 |
|
Reserve Movement |
463,341.18% |
-100.02% |
2,377.45% |
-33.68% |
-83.58% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.64 |
|
|
1 |
Rs.90.14 |
|
Euro |
1 |
Rs.77.98 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.