|
Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CERA-CHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1-A, New Avadi Road, High Court Colony, Villivakkam, Chennai – 600
049, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.06.1993 |
|
|
|
|
Com. Reg. No.: |
18-025278 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.750
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24294TN1993PTC025278 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC01038C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC1308C |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Construction Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 103000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Latest
financial i.e. 2011-12 are not available. From the previous year financials there
seems some dip in the profitability of the company. However, networth appears to be satisfactory. Trade relations are
reported as fair. Business is active. Payment terms are unknown. The company can be considered for business dealings with slight
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) |
|
|
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
|
Source
: CIA |
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 : |
1-A, New Avadi Road, High Court Colony, Villivakkam, Chennai – 600
049, Tamilnadu, India |
|
Tel. No.: |
91-44-26441013/ 26453498/ 26454792 |
|
Fax No.: |
91-44-26446104 |
|
E-Mail : |
Accounts: accounts@cerachemindia.com Purchase: purchase@cerachemindia.com R & D: prathaban@cerachemindia.com Marketing: marketing@cerachemindia.com Admin Executive: corporate@cerachemindia.com |
|
Website : |
|
|
Area : |
Rented |
|
|
|
|
Head Office/ Factory 1 : |
No.6, Park Street, Kilpauk Garden Colony, Chennai – 600 010,
Tamilnadu, India |
|
Tel. No.: |
91-44-26441013/ 26453498/ 26454792/ 26460844 |
|
Fax No.: |
91-44-26446104 |
|
Area : |
2000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory 2 : |
50, Alapakkam Road, Maduravoyal, Chennai – 602 102, Tamilnadu, India |
|
Area : |
20000 sq. ft. |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2011
|
Name : |
Gangadharan Manari |
|
Designation : |
Managing Director |
|
Address : |
18 Lotus Lawns, 4 and 5, |
|
Date of Birth/Age : |
05.05.1959 |
|
Qualification : |
D.C.E. |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
01090970 |
|
|
|
|
Name : |
Gangadharan Shanthini |
|
Designation : |
Director |
|
Address : |
18 Lotus Lawns, 4 and 5, |
|
Date of Birth/Age : |
24.08.1984 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
21.06.1993 |
|
DIN No.: |
01090946 |
|
|
|
|
Name : |
Prathaban Thalacherry Damodaran |
|
Designation : |
Director |
|
Date of Appointment : |
21.06.1993 |
|
DIN No.: |
01902500 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Gangadharan Manari |
|
4375 |
|
Gangadharan Shanthini |
|
4375 |
|
Prathaban Thalacherry Damodaran |
|
8750 |
|
Total |
|
17500 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Construction Chemicals. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited, CBB, Karamuthu Nilayam,
No.192, Anna Salai, Chennai – 600 002, Tamilnadu, India ·
Axis Bank Limited, No.82., Dr. Radhakrishnan
Salai, 3rd Floor, Mylapore, Chennai – 600 004, Tamilnadu, India ·
Punjab National Bank ·
ABN
Amro Bank ·
Standard
Chartered Bank ·
HDFC
Bank Limited |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shariff and Company Chartered Accountants |
|
Address : |
No.27, Marikayar Lebbai Street, 1st Floor, Chennai – 600
001, Tamilnadu, India |
|
Tel. No.: |
91-44-25221338/ 25248118 |
|
Fax No.: |
91-44-25248118 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AACPS3468C |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17500 |
Equity Shares |
Rs.100/- each |
Rs.1.750 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 |
1.750 |
1.750 |
1.750 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23.909 |
15.517 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(1.256) |
|
|
NETWORTH |
25.659 |
17.267 |
0.494 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
28.164 |
42.518 |
50.576 |
|
|
2] Unsecured Loans |
0.363 |
0.110 |
0.030 |
|
|
TOTAL BORROWING |
28.527 |
42.628 |
50.606 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54.186 |
59.895 |
51.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.597 |
5.835 |
4.884 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.626 |
1.001 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.353
|
12.211 |
12.307 |
|
|
Sundry Debtors |
54.634
|
51.499 |
49.954 |
|
|
Cash & Bank Balances |
1.178
|
8.429 |
0.849 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.078
|
3.698 |
2.885 |
|
Total
Current Assets |
72.243
|
75.837 |
65.995 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
25.525
|
21.119 |
18.211 |
|
|
Other Current Liabilities |
4.284
|
1.671 |
1.371 |
|
|
Provisions |
3.167
|
0.000 |
0.212 |
|
Total
Current Liabilities |
30.289
|
22.790 |
19.794 |
|
|
Net Current Assets |
41.954
|
53.047 |
46.201 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.009 |
0.012 |
0.015 |
|
|
|
|
|
|
|
|
TOTAL |
54.186 |
59.895 |
51.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
TURNOVER |
190.090 |
171.866 |
175.125 |
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
15.926 |
17.647 |
(25.352) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.387 |
0.873 |
0.829 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
14.539 |
16.774 |
(26.181) |
|
|
|
|
|
|
|
Less |
TAX |
6.147 |
0.000 |
0.262 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
8.392 |
16.774 |
(26.443) |
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
479.54 |
958.51 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.77
|
20.54 |
(37.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.57
|
0.97 |
(52.99) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.11
|
2.47 |
102.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39
|
3.33 |
3.33 |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
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 |
No |
|
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 |
-- |
|
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 |
No |
|
Unsecured Loans |
31.03.2011 (Rs. in Millions) |
31.03.2010 (Rs. in Millions) |
|
Loan from
Directors |
0.333 |
0.080 |
|
Loan from Others |
0.030 |
0.030 |
|
Total |
0.363 |
0.110 |
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U24294TN1993PTC025278 |
|
Name of the company |
CERA-CHEM PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
1-A, New Avadi Road, High Court Colony, Villivakkam, Chennai – 600
049, Tamilnadu E-Mail: |
|
This form is for |
Modification of charge |
|
Charge identification number of the
modified |
10121559 |
|
Type of charge |
Immovable Property Book Debts Movable Property (not being pledge) Floating Charge |
|
Particular of charge holder |
Axis Bank
Limited, CBB, Karamuthu Nilayam, No.192, Anna Salai, Chennai – 600 002,
Tamilnadu, India |
|
Nature of description of the instrument
creating or modifying the charge |
Declaration cum deed of confirmation for
the extension of mortgage. Supplemental Deed of Hypothecation. |
|
Date of instrument Creating the charge |
19.06.2012 |
|
Amount secured by the charge |
Rs.55.000 millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: OD: Base Rate + 4.00% p.a. Terms of Repayment: Over Draft : On Demand Margin: As per sanction letter and as determined
by banker from time to time. Extent and Operation of the charge: As per the instruments executed Others: Nature of Facility Existing Revised (Rs. in. millions) OD
20.000 30.000 FLC/BC (Sub limit to OD) - - - (2.300) LER - -
- (0.400) TL
25.000 25.000 TOTAL
45.000 55.000 |
|
Short particulars of the property charged |
Extension of EM over the immovable
property owned by Company admeasuring 3.53 acres and bearing S.No.344/2
situated at Valarpuram Village. Hypothecation by way of first charge on
the entire unencumbered Fixed assets of the company both present and future. Hypothecation by way of first charge on
the entire current assets of the company both present and future. |
|
Date of latest modification prior to the present
modification |
05.09.2008 |
|
Particulars of the present
modification |
The amount secured by charge has been
enhanced from Rs.45.000 millions to Rs.55.000 millions, as detailed
hereunder: Nature of Facility Existing Revised (Rs. in. millions) OD
20.000 30.000 FLC/BC (Sub limit to OD) - - - (2.300) LER - -
- (0.400) TL
25.000 25.000 TOTAL 45.000 55.000 |
FIXED ASSETS:
·
Machinery
·
Weighting Machine
·
Typewriter
·
Furniture and Fittings
·
Fans
·
Office Equipment
·
Air Conditioner
·
Computer
·
Cars
·
Vehicles
·
Pagers
·
Cell Phones
·
Building
·
Display Equipments
·
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.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.