|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MONARCH CATALYST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-94, MIDC, Phase I, Dombivli (East), Thane – 421 203, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.11.1983 |
|
|
|
|
Com. Reg. No.: |
11-31365 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.58.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1983PTC031365 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
pnem06999g |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
manufacturer of Nickel Catalyst for oils and Oleo Chemicals |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1542964 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. General
financial position of the company is good trade relations are reported as
fair. Business is active. Payments are reported to be usually correct and as
per commitments. 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.
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 |
CRISIL |
|
Rating |
BBB+ (Long term bank loan) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk |
|
|
|
|
Rating |
A2 (Letter of Credit) |
|
Rating Explanation |
High degree of safety. It carry low credit risk. |
|
Date |
July 2012 |
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: |
A-94, MIDC, Phase I, Dombivli (East), Thane – 421 203, |
|
Tel. No.: |
91-251-2471716/ 2431013/2435591 |
|
Fax No.: |
91-251-2470269 |
|
E-Mail : |
info@monarchcatalyst.com raghu@monarchcatalyst.com |
|
Website : |
www.monarchcatalyst.com |
DIRECTORS
AS ON 30.08.2012
|
Name : |
Mr. Abhishek Dalmia |
|
Designation : |
Director |
|
Address : |
Radha Vihar, 35-B, |
|
Date of Appointment : |
05.06.2006 |
|
DIN No.: |
00011958 |
|
Name : |
Mr. Hitesh Chimanlal Vadalia |
|
Designation : |
Managing Director |
|
Address : |
4, Mangal Murti, 3rd Floor, |
|
Experience : |
16 Years |
|
Qualification : |
B.Tech, M. S. |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00463471 |
|
Name : |
Mr. Krishnan Muthukumar |
|
Designation : |
Director |
|
Address : |
31/348, akshar Mahol, |
|
Experience : |
12 years |
|
Qualification : |
B.Com, PGDM |
|
Date of Appointment : |
01.01.1998 |
|
DIN No.: |
00463579 |
|
Name : |
Mr. Sivasubramanian Krishnan |
|
Designation : |
Director |
|
Address : |
4A, Akshay Anand, |
|
Experience : |
36 years |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
01.04.1995 |
|
DIN No.: |
00463757 |
|
Name : |
Mr. Satish Chandra Katyal |
|
Designation : |
Director |
|
Address : |
A 303-304, Golf Scappe, |
|
Date of Appointment : |
05.06.2006 |
|
DIN No.: |
00614377 |
|
Name : |
Mr. Shantilal Harilal Vadalia |
|
Designation : |
Director |
|
Address : |
B-1, Flat No. 1001, Lok Everest, 10th Floor, Jathashankar
Dosa Marg, Mulund West, Mumbai – 40 080, |
|
Date of Birth : |
20.07.1943 |
|
Qualification : |
M.Sc. Tech |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00614424 |
KEY EXECUTIVES
|
Name : |
Mr. Raghunath Subramanian |
|
Designation : |
Secretary |
|
Address : |
304, Gayatri, |
|
Date of Appointment : |
22.07.2008 |
|
PAN No.: |
AAEPR3625A |
|
Name : |
Dr. M R Kalyanp |
|
Designation : |
Head – Technical Services |
|
|
|
|
Name : |
Dr. G P Babu |
|
Designation : |
Head – R and D |
|
|
|
|
Name : |
Mr. Nitin Kotian |
|
Designation : |
Head – Operations |
|
|
|
|
Name : |
Mr. G Arunkumar |
|
Designation : |
Head – Projects |
|
|
|
|
Name : |
Mr. S. Raghunath |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. M G Shah |
|
Designation : |
Head – Finance |
|
|
|
|
Name : |
Mr. N K Neelkantan |
|
Designation : |
Head – Quality Assurance |
|
|
|
|
Name : |
Mr. Vinod Muthukumar |
|
Designation : |
Head – Corporate Strategy |
|
|
|
|
Name : |
Mr. Shrinivas Modak |
|
Designation : |
Head – Sales and
Marketing |
|
|
|
|
Name : |
Mr. Mahendra Kolhekar |
|
Designation : |
Head – Procurement |
|
|
|
|
Name : |
Mr. Murali K Iyer |
|
Designation : |
Head – Administration |
|
|
|
|
Name : |
Mr. Rajan Gunjikar |
|
Designation : |
Head – Manufacturing |
|
|
|
|
Name : |
Mr. Satishkumar Nair |
|
Designation : |
Head – Human Resources |
|
|
|
|
Name : |
Mr. V M Bhamre |
|
Designation : |
Head – Maintenance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shantilal H Vadalia Rekha S Vadalia Hemani S Vadalia |
|
97750 |
|
Rekha S Vadalia Shantilal H Vadalia Hemani S Vadalia |
|
2290 |
|
Shantilal H Vadalia HUF |
|
10 |
|
Vasantha Muthukumar Krishnan M Vinod M |
|
6760 |
|
Krishnan M Vasantha M Vinod M |
|
1500 |
|
Shri. Vinod M Smt. Vasantha M Shri. Krishnan M |
|
9700 |
|
Shri Krishnan M. Smt. Reshma Krishnan Smt. Vasantha M. |
|
18700 |
|
Smt. Reshma Krishnan Shri Krishnan M. Smt. Vasantha M. |
|
2090 |
|
Smt. Jasumati C. Vadalia Shri Hitesh C. Vadalia Kum Sneha C Vadalia |
|
2000 |
|
Shri Hitesh C Vadalia Smt Rupal H Vadalia |
|
42330 |
|
Smt. Rupal H Vadalia Shri Hitesh C Vadalia |
|
21200 |
|
Shri Chimanlal H Vadalia
HUF |
|
10 |
|
Shri Hitesh C Vadalia HUF |
|
10 |
|
Shri K Shivsubramanian Smt. Geeta S. Shri Vinod M. |
|
14400 |
|
Shri. K. Shivsubramanian Smt. Geeta S Smt.Reshma Krishnan |
|
40500 |
|
Shri. K. Shivsubramanian Smt. Geeta S Shri Krishnan M |
|
6500 |
|
Smt. Geeta
Shivsubramanian Shri K Shivsubramanuian Shri Krishnan M. |
|
2100 |
|
Smt. Jasumati C. Vadalia Shri Hitesh C Vadalia |
|
34500 |
|
Shri Krishnan Muthukumar Smt. Reshma Krishnan |
|
58050 |
|
Smt. Reshma Krishnan Shri Krishnan M. |
|
3250 |
|
Shri K Shivsubramanian Smt. Geeta S Rashi Muthukumar |
|
36550 |
|
Mr. Shridhar Iyer |
|
14500 |
|
Mr. Sundar Iyer Mrs.Vanaja Sunder Iyer |
|
12083 |
|
Mr. Siddharth Iyer Mr. Sunder Iyer |
|
2417 |
|
Renaissance Asset
Management Company Pvt Ltd |
|
75400 |
|
Revathi Equipment Limited |
|
75488 |
|
Total |
|
580088 |
AS ON 30.09.2012
|
Category |
Percentage |
|
Bodies corporate |
26.00 |
|
Directors or relatives of Directors |
74.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
manufacturer of Nickel Catalyst for oils and Oleo Chemicals |
GENERAL INFORMATION
|
Customers : |
ACTIVATED ALLOY CATALYST (AAC) Domestic Customers: Global Customers: Pfizer NICKEL
CATALYST FOR OILS & FATS (OFC) Domestic Customers: Global Customers: NOBLE
METAL CATALYST (NMC) Domestic Customers: |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· Standard Chartered Bank Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla
Complex, Bandra, Mumbai – 400 051, · Standard Chartered Bank 90, M ·
State bank
of MID Corporate Loan admin Unit Shri Hari Building, RTO Lane, Four Bungalows, Andheri (West), Mumbai – 400 053, Maharashtra · India Bank Matunga Bazar Branch, Mumbai, Maharashtra, India · ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Yes Bank Limited 9th Floor, Nehru Centre, Discovery Of India,, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India · Barclays Bank Plc 601/603, Ceejay House, Shiv Sagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Sheth doshi and associates Chartered Accountants |
|
Address : |
B-3, 601, Lok Everest, JSD Marg, Mulund West, Mumbai – 400 080,
Maharashtra, India |
|
PAN No. : |
AABPD1714H |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,00,000 |
Equity Shares |
Rs.100/-each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,80,000 |
Equity Shares |
Rs.100/-each |
Rs. 58.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
58.000 |
58.000 |
58.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
327.741 |
273.958 |
215.894 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
385.741 |
331.958 |
273.894 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
347.374 |
|
|
2] Unsecured Loans |
50.000 |
3.200 |
16.700 |
|
|
TOTAL BORROWING |
50.000 |
3.200 |
364.074 |
|
|
DEFERRED TAX LIABILITIES |
42.658 |
38.334 |
43.700 |
|
|
|
|
|
|
|
|
TOTAL |
478.399 |
373.492 |
681.668 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
528.019 |
425.518 |
422.549 |
|
|
Capital work-in-progress |
60.285 |
6.050 |
1.368 |
|
|
|
|
|
|
|
|
INVESTMENT |
55.171 |
24.452 |
23.617 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
7.954 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
159.939
|
127.096 |
75.410 |
|
|
Sundry Debtors |
286.639
|
343.152 |
198.990 |
|
|
Cash & Bank Balances |
5.967
|
3.316 |
14.767 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
247.052
|
189.495 |
151.218 |
|
Total
Current Assets |
699.597
|
663.059 |
440.385 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
203.073
|
240.778 |
159.872 |
|
|
Other Current Liabilities |
572.668
|
438.838 |
0.000 |
|
|
Provisions |
88.932
|
65.971 |
56.016 |
|
Total
Current Liabilities |
864.673
|
745.587 |
215.888 |
|
|
Net Current Assets |
(165.076)
|
(82.528) |
224.497 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
1.683 |
|
|
|
|
|
|
|
|
TOTAL |
478.399 |
373.492 |
681.668 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1526.386 |
1338.259 |
901.648 |
|
|
|
Other Income |
5.239 |
6.631 |
5.112 |
|
|
|
TOTAL (A) |
1531.625 |
1344.890 |
906.760 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative Expenses |
130.760 |
108.758 |
88.941 |
|
|
|
Other Expenses |
1243.118 |
1096.731 |
690.546 |
|
|
|
TOTAL (B) |
1373.878 |
1205.489 |
779.487 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
157.747 |
139.401 |
127.273 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
51.235 |
43.986 |
41.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
106.512 |
95.415 |
86.177 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
25.436 |
24.773 |
23.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
81.076 |
70.642 |
62.277 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
20.543 |
12.577 |
8.735 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
60.533 |
58.065 |
53.542 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total
Income |
(%) |
3.95
|
4.31 |
5.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.31
|
5.27 |
6.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.60
|
6.48 |
7.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.21 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Debt /Networth) |
|
0.12
|
0.00 |
2.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80
|
0.88 |
2.04 |
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 |
Ye |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
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 |
No |
|
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 |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24110MH1983PTC031365 |
|
Name of the
company |
MONARCH CATALYST
PVT LTD |
|
Address of the registered
office or of the principal place of
business in |
A-94, MIDC, Phase I, Dombivli (East), Thane – 421 203, Maharashtra,
India |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10087414 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Barclays Bank Plc 601/603, Ceejay House, Shiv Sagar Estate, Dr. Annie Besant
Road, Worli, Mumbai - 400018, Maharashtra,
India |
|
Nature of
instrument creating charge |
Letter of Bank
dated 11/09/2012 in respect of the no dues / non utilization of Rs. 5.60
Crores. |
|
Date of
instrument Creating the charge |
11.09.2012 |
|
Amount secured by
the charge |
Rs. 63.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
specified by bank from time to time. Terms of
Repayment As may be
specified by bank from time to time. Margin As may be
specified by bank from time to time. Extent and
Operation of the charge First ranking
Pari passu charge on the immovable
(including Land) of the company at plot A-94 and Plot F1/2 MIDC,Phase I,
Navrang Naka, Dombivli East, for the term loan facility aggregating to INR
63,000,000. Others --- |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
At plot A-94 and
Plot F1/2 MIDC,Phase I, Navrang Naka, Dombivli East, |
|
Date of instrument
modifying the charge |
11.01.2012 |
|
Particulars of
the present modification |
Bank granted Term
Loan of Rs. 56.000 millions against Mortgage on the said Immovable
Properties. The bank enhanced Term Loan Rs.560.000 millions to Rs.119.000 millions & granted Working Capital facility of Rs. 100.000 millions & the
said charge was modified to total facilities of Rs. 219.000 millions. Working
Capital of Rs.100.000 millions was cancelled
and charge was modified to Rs. 119.000 millions Term Loan of Rs.56.000
millions is now repaid and therefore only the Term Loan of Rs. 63.000
millions is existing for the said
securities. |
Bankers Charges
Report as per Registry
|
This form is for |
Creation of charge |
|
Name of the company |
MONARCH CATALYST PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
A-94, MIDC, Phase I, Dombivli (East), Thane – 421 203, |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
Standard Chartered Bank Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex,
Bandra, Mumbai – 400 051, |
|
Nature of description of the instrument creating or modifying the
charge |
Memorandum of Hypothecation |
|
Date of instrument Creating the charge |
22.07.2011 |
|
Amount secured by the charge |
Rs.126.000 millions |
|
Brief particulars of the principal terms an conditions and extent and operation
of the charge |
Rate of interest Credit Facilities. Interest / Commission - As agreed by and with the Bank from time to
time. Terms of repayment As agreed by and with the Bank from time to time. Margin As agreed by and with the Bank from time to time. Extent and operation of the charge The Bank is having first charge on the security given by the Company Others First charge on security has been created in favour of Bank for the
purpose of securing credit facility to the extent of USD 2.80 Million granted
to the Company. For the purpose of filing Form 8, the facility amount
equivalent in INR has been calculated at the prevailing foreign exchange rate
i.e. (1 USD = INR 45). |
|
Short particulars of the property charged |
·
Hypothecation by way of first charge on all
present and future of the movable properties of the borrower situated at
A-94, MIDC Phase1, Dombivali east, Thane 421201 and F 1/2, MIDC Phase 1, ·
Dombivali East, Thane 421203 including without
limitation its movable plant and machinery, furniture and fittings,
equipment, computer hardware, computer software, machinery spares, tools and
accessories and other movables, both whether now lying loose or in cases or
which are now lying or stored in or about or shall hereafter from time to
time during the continuance of the security of these presents be brought into
or upon or be stored or be in or about any or all the borrower's premises,
warehouse, stockyards and godowns or those of the borrower's agents,
affiliates, associates or representatives or at various worksites or at any
up country place or places or wherever else the same may be or be held by any
party including without limitation. |
WEB DETAILS
PROFILE
Subject is an established manufacturer
of Nickel Catalyst for oils and oleo chemicals in
In the area of catalysts, as a step towards the growth, Subject has taken over the “Kallin Intermediate Private Limited” (KIPL) on April 1, 2002. KIPL was established in 1978 by Dr. Kalyanpur and Mr. A.R. Mallapur to manufacture Activated Alloy Catalyst (AAC) and supported noble metal catalyst (NMC). Various grades of supports, viz. carbon, alumina, calcium carbonate etc are used for effective dispersion of noble metals on them and achieve better performance in catalytic reactions.
To accept greater challenges, subject created a separate plant (facility) in 1984 for the recovery of metal from all types of spent catalysts (used/deactivated catalysts). After several years of process optimization, subject has achieved a higher yield (more than 90%) of base metals from different types of used catalysts. Recovery of metal from spent catalyst not only solves the pollution problem but also helps our clients to better dispose (realizing a value) of waste generated in their plant. Constant innovations are incorporated in the recovery process, which give benefits in operating the plant cost effectively. Also, the recovery of metal from waste enables subject to pass on certain cost benefits to its clients.
At Subject, the quality control system operates with strict adherence to the specifications for raw materials, intermediates and final products. State of the art analytical instruments are provided to measure surface area, pore size/pore volume, metal dispersion and metal crystallite size, temperature programmed reduction, fatty acid composition, cis-trans fatty acids in edible fat and purity of organic fine chemicals. Also, dedicated high pressure autoclaves are used routinely for catalyst performance tests (hydrogenation of oils/fatty acids, drug intermediates and fine chemicals).
At subject, the technical team endeavours constantly towards adopting new technologies in the area of manufacturing/developing new brands and quality control procedures. Process conditions are revised regularly to enhance quality and improve product consistency. The focus area at subject is to support its customers in attending to their technical issues as well as associate with them to help their waste management initiatives.
Now, subject is one of the few major players in the field of catalysts technology and is among the top three global players in the field of oils and fats nickel catalyst. The higher demand from the export market allowed subject to expand its manufacturing facility/capacity of nickel catalysts, AAC and NMC. The consequent synergy in the operations of the base metal and noble metal catalysts with cumulative experience of more than 200 years in the catalyst industry has enriched the new entity and enhanced subject capability.
MILESTONES
|
1973 |
~ A green field entity subject
is born |
|
1982 |
~ Extraction facility is set up for recovery of nickel from wastes |
|
1989 |
~ Becomes the only company in |
|
1992 |
~ Doubles capacity to 420 tpa |
|
2001 |
~ Installs a Palletizer to enhance the product performance and bags the
first export order for Nickel catalyst |
|
2002 |
~ Subject achieves KOSHER certification and ISO-9002 certification |
|
2002 |
~ Takes over Kallin Intermediate Private Limited, a pioneer company manufacturing
Activated Alloy Catalyst and Noble Metal catalyst |
|
2003 |
~ Expands
capacity for all existing products: Nickel Catalyst – 600 tpa Activated Alloy Catalyst – 96 tpa Noble Metal Catalyst – 500 kgs per month |
|
2005 |
~ Embarks on an expansion project to build one of the world’s largest
Catalyst Plant for manufacture of Oils and Fats Catalysts, Activated Alloy
Catalysts and Precious Metal Catalysts |
|
2006 |
~ Divests 26% to Revathi Equipment Limited |
|
2007 |
~ Completes
expansion started in 2005 and current manufacturing capacities stand at: Oil and Oleochemical Catalyst – 2400 tpa Activated Alloy Catalyst – 600 tpa Noble Metal Catalyst – 120 tpa |
BOARD OF DIRECTORS
Mr. S H Vadalia : Chairman
-Masters in Oil Technology from
UDCT,
-Co-founder of the Company and
currently a mentor to the young team
Mr. K Shivasubramanian : Vice Chairman
-Bachelor of Science
-A key advisor and a mentor to the
young team.
Mr. Hitesh C Vadalia : Managing Director
-B. Tech (IIT, Mumbai), Masters in
Science from
-Heading technical team of the
company
Mr. Krishnan M. : Director
-Masters in Business Administration (Marketing), S P Jain Mumbai
-Heading Business Development for
the Company
Mr. Abhishek Dalmia : Independent Director
-Bachelors in Commerce (Hons)
-FCA, Grad - CWA
Mr. Satishchandra Katiyal : Independent Director
-Bachelors in Arts (Economics – Hons)
-FICWA ACIS, ACS
THE TOP MANAGEMENT ALSO INCLUDES
Dr. M R Kalyanpur : Head – Technical Services
-Doctorate in Chemistry from UDCT, Mumbai
-Co-ordinates the R and D
initiatives and advises in technical matters.
Dr. G P Babu : Head – R and D
-Doctorate in Chemistry from NCL, Pune
-Heads the R&D initiatives in
emerging Catalytic technologies
Mr. Nitin Kotian : Head – Operations
-Masters
in Science from
Mr. G Arunkumar : Head – Projects
-Bachelors in Mechanical Engineering from REC, Trichi
Mr. S. Raghunath: CFO
-Bachelors in Commerce(
-ACA, ACS
-Heading the Finance team
Mr. M G Shah : Head – Finance
-Bachelors in Commerce, Bachelors in
Law (
-The oldest member of Monarch and
heading the internal Audit team
Mr. N K Neelkantan : Head – Quality Assurance
-Bachelors in Science (
Mr. Vinod Muthukumar : Head – Corporate Strategy
-MBA,
Mr. Shrinivas Modak : Head – Sales and Marketing
-Masters in Science from
Mr. Mahendra Kolhekar : Head – Procurement
-Bachelors in Engineering
Mr. Murali K Iyer : Head – Administration
-Bachelors in Science from
Mr. Rajan Gunjikar : Head – Manufacturing
-Bachelors in Science from
-Diploma in Production Engg. and
Factory Mgt.
Mr. Satishkumar Nair : Head – Human Resources
-Bachelor of Business Administration
-Diploma in HRD
-Diploma in Fire and Safety
Mr. V M Bhamre : Head – Maintenance
-Diploma in Engineering
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.54.29 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
---- |
|
|
|
|
Report Prepared
by : |
NLM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.