|
Report Date : |
19.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
ABC CHEMICAL EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
104, Damji Shamji Udyog Bhawan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.10.1997 |
|
|
|
|
Com. Reg. No.: |
11-111407 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1997PTC111407 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Exporter and Importer of Chemicals |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 84000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for normal 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.
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. Santosh |
|
Designation : |
Logistic Department |
|
Contact No.: |
91-22-26734914 |
|
Date : |
19.07.2013 |
LOCATIONS
|
Registered Office / Corporate : |
104, Damji Shamji Udyog Bhawan, |
|
Tel. No.: |
91-22-26734914 / 15 / 26734960 / 67292100 – 2199 |
|
Mobile No.: |
91-9903051478 [Mr. Indrnil] |
|
Fax No.: |
91-22-26734896 / 26734993 / 26734914 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
|
|
|
Branch Office : |
P – 65, |
|
Location : |
Owned |
|
|
|
|
Overseas Office
: |
Located at : ·
U.A.E ·
·
·
U.S.A ·
|
DIRECTORS
As on : 29.09.2012
|
Name : |
Mr. Hiroo Jethanand Thadani |
|
Designation : |
Director |
|
Address : |
601, Ivory Tower – II, |
|
Date of Birth/Age : |
26.08.1941 |
|
Date of Appointment : |
20.10.1997 |
|
DIN No. : |
01282633 |
|
|
|
|
Name : |
Mr. Vinay Hiroo Thasani |
|
Designation : |
Director |
|
Address : |
601, Ivory Tower – II, |
|
Date of Birth/Age : |
29.12.1973 |
|
Date of Appointment : |
20.10.1997 |
|
DIN No. : |
01285403 |
|
|
|
|
Name : |
Mrs. Priya Hiroo Thadani |
|
Designation : |
Director |
|
Address : |
601, Ivory Tower – II, |
|
Date of Birth/Age : |
26.05.1944 |
|
Date of Appointment : |
02.06.2004 |
|
DIN No. : |
01282644 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Hiroo J. Thadani |
333333 |
|
Priya H Thadani |
333333 |
|
Vinay H. Thasani |
333334 |
|
Total |
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on : 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Chemicals |
|
|
|
|
Products : |
A)
Coating Raw Materials
B)
Pigment Raw materials
C )
Resin Raw materials
D )
Plastic Masterbatch Raw Material ·
PIGMENTS ·
Organic Pigments ·
Inorganic Pigments ·
High Performance Pigments |
|
|
|
|
Exports : |
|
|
Products : |
Chemicals |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Chemicals |
|
Countries : |
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
25 [Approximately] |
|
|
|
|
Bankers : |
Dena Bank, Andheri (West) Branch, “Deepavali”, |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. Shiv Kumar and Associates Chartered Accountants |
|
Address : |
120, Damji Shamji Udyog Bhavan, Veera Desai Road, Andheri West, Mumbai
– 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26734852 / 26734928 / 26734960 |
|
E-Mail : |
|
|
PAN No.: |
AAFPV8381C |
|
|
|
|
Associates/Subsidiaries : |
ABC Chemical Private Limited, |
CAPITAL STRUCTURE
As on : 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
After : 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.000 |
5.000 |
|
(b) Reserves & Surplus |
|
11.025 |
4.106 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
5.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
21.025 |
14.106 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.086 |
0.137 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
0.086 |
0.137 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
28.736 |
19.966 |
|
(b)
Trade payables |
|
225.342 |
122.860 |
|
(c)
Other current liabilities |
|
0.186 |
0.020 |
|
(d) Short-term
provisions |
|
5.202 |
1.889 |
|
Total Current Liabilities (4) |
|
259.466 |
144.735 |
|
|
|
|
|
|
TOTAL |
|
280.577 |
158.978 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
72.206 |
27.844 |
|
(ii)
Intangible Assets |
|
0.001 |
0.001 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
72.207 |
27.845 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
113.142 |
63.050 |
|
(d) Cash
and cash equivalents |
|
74.587 |
64.545 |
|
(e)
Short-term loans and advances |
|
20.641 |
3.538 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
208.370 |
131.133 |
|
|
|
|
|
|
TOTAL |
|
280.577 |
158.978 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
5.742 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
10.742 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
8.372 |
|
|
2] Unsecured Loans |
|
|
3.882 |
|
|
TOTAL BORROWING |
|
|
12.254 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.072 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
23.068 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
23.234 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.001 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
34.631 |
|
|
Cash & Bank Balances |
|
|
23.370 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
3.469 |
|
Total
Current Assets |
|
|
61.470 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
52.854 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
8.783 |
|
Total
Current Liabilities |
|
|
61.637 |
|
|
Net Current Assets |
|
|
(0.167) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
23.068 |
|
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
950.000 |
550.000 |
380.000 |
Not Available |
The above information has been parted by Mr. Santosh (Logistic
Department)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00
|
0.01 |
1.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80
|
0.91 |
0.99 |
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 |
No |
|
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) |
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBT : NOT AVAILABLE
UNSECURED LOANS :
(Rs in Millions)
|
PARTICULARS |
31.03.2012
|
31.03.2011
|
|
Short term
borrowings : |
|
|
|
Loans repayable
on demand |
|
|
|
From Banks |
14.857 |
5.984 |
|
Loans and advances
from related parties |
13.879 |
13.982 |
|
Total |
28.736 |
19.966 |
BANKERS CHARGES
REPORT AS PER REGISTRY :
|
Corporate
identity number of the company |
U24100MH1997PTC111407 |
|
Name of the
company |
ABC CHEMICAL EXPORTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
104, Damji Shamji Udyog Bhawan, Email : abc@bom3.vsnl.net.in
|
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
90159821 |
|
Type of charge |
|
|
Particular of charge
holder |
Dena Bank,
Versova Branch, Opposite .Apna Bazar, J. P.Road, Dhake Colony, Andheri West,
Mumbai – 400058, Maharashtra, India Email : versova@denabank.co.in |
|
Nature of instrument
creating charge |
1. Memorandum of
modification of hypothecation agreement 2. Equitable
mortgage by deposit of title deeds by borrower (goods,
book-debts and other movable assets to secure multiple facilities) All constitute
single charge. |
|
Date of
instrument Creating the charge |
30.03.2013 |
|
Rs. 92.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest : As per H.O
Guidelines Terms of Repayment : On Demand Margin : 1. Foreign Bill
Purchase/Negotiation - 10% 2. Letter of
Credit (DA/DP 120 days, INLAND/IMPORT) - 25% 3. Guarantee
(Performance/Financial) - 25% Extent and Operation of the charge : To secure
various revised facilities aggregating
to Rs.925.00 Millions granted by the Bank to the Company as under :- 1. Foreign Bill
Purchase/Negotiation
Rs.30.000 Millions SECURED BY
LIEN ON EXPORT BILLS. 2. Letter of
Credit (DA/DP 120 days, I/F)
Rs.60.000 Millions SECURED BY
SHIPPING DOCUMENTS. 3. Guarantee
(Performance/Financial) Rs.
2.500 Millions Total Rs.92.500
Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Date of instrument
modifying the charge |
08.06.2009 |
|
Particulars of
the present modification |
Vide this
modification, the charge amount enhanced from Rs.32.500 Millions to Rs.92.500
Millions to secure the various revised
limits as under 1. Foreign Bill
Purchase/Negotiation
Rs.30.000 Millions 2. Letter of
Credit (DA/DP 120 days, I/F)
Rs.60.000 Millions 3. Guarantee
(Performance/Financial) Rs.
2.500 Millions TOTAL
Rs.92.500
Millions secured against Hypothecation of Immovable Property,Stocks,Movable and
other Assets and Book-Debts |
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. 59.71 |
|
|
1 |
Rs. 90.59 |
|
Euro |
1 |
Rs. 78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
|
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 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.