1. Summary Information
|
Country |
India |
||
|
Company Name |
KLJ RESOURCES
LIMITED |
Principal Name 1 |
Mr. Hemant Jain |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Dilip Kumar Karan |
|
Registration # |
21-041487 |
||
|
Street Address |
8, Camac Street,
Kolkata – 700017, West Bengal, India |
||
|
Established Date |
24.11.1986 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Trader |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Chemicals |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.250,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate - 47.28% Directors or relatives of directors – 52.11% Other top fifty shareholders – 0.43% Others – 0.18% |
Banking |
Punjab
National Bank |
|
Public Limited Corp. |
YES |
Business Period |
26 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
Ba
(50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates Company |
-- |
KLJ Polymers and Chemicals Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,467,108,000 |
Current Liabilities |
2,225,011,000 |
|
Inventories |
2,022,115,000 |
Long-term Liabilities |
483,050,000
|
|
Fixed Assets |
43,166,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
3,355,000 |
Total Liabilities |
2,708,061,000 |
|
Invest& other Assets |
8,753,000 |
Retained Earnings |
586,436,000 |
|
|
|
Net Worth |
836,436,000 |
|
Total Assets |
3,544,497,000 |
Total Liab. & Equity |
3,544,497,000 |
|
Total Assets (Previous Year) |
2,072,643,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
5,542,058,000 |
Net Profit |
267,670,000 |
|
Sales(Previous yr) |
3,574,657,000 |
Net Profit(Prev.yr) |
210,717,000 |
MIRA INFORM REPORT
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
KLJ RESOURCES LIMITED |
|
|
|
|
Registered
Office : |
8, Camac Street, Kolkata – 700017, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.11.1986 |
|
|
|
|
Com. Reg. No.: |
21-041487 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.250.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L67120WB1986PLC041487 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALK03240G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK1181C |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Trader of Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3340000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Latest financial i.e. 2011-2012 are not made available. However, from the
previous year record it seems that 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 commitment. 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 |
A1 (Letter of Credit) |
|
Rating Explanation |
Highest degree of safety. It carry lowest
credit risk. |
|
Date |
December 6, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A (Cash Credit) |
|
Rating Explanation |
Adequate degree of safety. It carry low
credit risk. |
|
Date |
December 6, 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 : |
8, Camac Street, Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
KLJ House 63, Rama Marg, Najafgarh Road, New Delhi - 110015, India |
|
Tel. No.: |
91-11-25459706 |
|
Fax No.: |
91-11-25459709 |
|
E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Hemant Jain |
|
Designation : |
Managing Director |
|
Address : |
6-B/9, N.E.A, Old Rajinder Nagar, New Delhi - 110060, India |
|
Date of Birth/Age : |
18.08.1971 |
|
Date of Appointment : |
01.10.2005 |
|
DIN No.: |
00506995 |
|
|
|
|
Name : |
Mr. Dilip Kumar Karan |
|
Designation : |
Director |
|
Address : |
63, Rama Marg, New Delhi - 110015, India |
|
Date of Birth/Age : |
06.02.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
10.10.1997 |
|
DIN No.: |
00061804 |
|
|
|
|
Name : |
Mr. Sudeep Mehta |
|
Designation : |
Director |
|
Address : |
13, Surya Nagar, Karkhana, Secunderabad - 500003, Andhra Pradesh, India |
|
Date of Birth/Age : |
21.02.1970 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
00483072 |
|
|
|
|
Name : |
Mr. Umakant Upendra Bhobe |
|
Designation : |
Director |
|
Address : |
1, Gautam Niwas, J.P. Road, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Birth/Age : |
15.01.1942 |
|
Date of Appointment : |
01.10.2005 |
|
DIN No.: |
01489172 |
|
|
|
|
Name : |
Mr. Sunil Andley |
|
Designation : |
Director |
|
Address : |
7276, Pkt-7, Sectord, Vasant Kunj, New Delhi, India |
|
Date of Birth/Age : |
26.02.1963 |
|
Date of Appointment : |
22.07.2011 |
|
|
|
|
Name : |
Mr. Shanti Lal Dugar |
|
Designation : |
Director |
|
Address : |
3/104, 2nd Floor, Ramesh Nagar, New Delhi – 110015, India |
|
Date of Birth/Age : |
16.07.1978 |
|
Date of Appointment : |
22.07.2011 |
|
DIN No.: |
03441727 |
|
|
|
|
Name : |
Mr. Virendra Kumar Singhi |
|
Designation : |
Director |
|
Address : |
K-71, Kirti Nagar, New Delhi – 110015, India |
|
Date of Birth/Age : |
02.10.1964 |
|
Qualification : |
Graduate CA Inter |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
00028824 |
KEY EXECUTIVES
|
Name : |
Mr. Praveen Sharma |
|
Designation : |
Secretary |
|
Address : |
K-117, Kirti Nagar, New Delhi - 110015, India |
|
Date of Birth/Age : |
13.09.1965 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ALQPS6513F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
47.28 |
|
Directors or relatives of directors |
|
52.11 |
|
Other top fifty shareholders |
|
0.43 |
|
Others |
|
0.18 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Chemicals |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Pugalia and Company Chartered Accountants |
|
Address : |
20E, Lake Road, Kolkata - 700029, West Bengal, India |
|
PAN No.: |
AFUPP1211P |
|
|
|
|
Associates Company : |
|
CAPITAL STRUCTURE
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7160000 |
Equity Shares |
Rs.10/- each |
Rs.71.600
Millions |
|
|
|
|
|
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
800000 |
Non Cumulative Fully Convertible Preference Shares |
Rs.250/- each |
Rs.200.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.250.000 Millions
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
800000 |
Non Cumulative Fully Convertible Preference Shares |
Rs.250/- each |
Rs.200.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.250.000 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 |
250.000 |
250.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
586.436 |
318.766 |
108.049 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
836.436 |
568.766 |
158.049 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
236.821 |
237.928 |
0.000 |
|
|
2] Unsecured Loans |
246.229 |
60.355 |
189.031 |
|
|
TOTAL BORROWING |
483.050 |
298.283 |
189.031 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1319.486 |
867.049 |
347.080 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
43.166 |
44.403 |
46.329 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.753 |
7.037 |
12.219 |
|
|
DEFERREX TAX ASSETS |
3.355 |
2.739 |
1.658 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2022.115
|
1383.690
|
532.963 |
|
|
Sundry Debtors |
897.979
|
403.327
|
279.689 |
|
|
Cash & Bank Balances |
320.167
|
146.996
|
89.758 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
248.962
|
84.451
|
112.219 |
|
Total
Current Assets |
3489.223
|
2018.464
|
1014.629 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
846.513
|
396.945
|
405.475 |
|
|
Other Current Liabilities |
1378.498
|
808.649
|
269.162 |
|
|
Provisions |
0.000
|
0.000
|
53.118 |
|
Total
Current Liabilities |
2225.011
|
1205.594
|
727.755 |
|
|
Net Current Assets |
1264.212
|
812.870
|
286.874 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1319.486 |
867.049 |
347.080 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5542.058 |
3574.657 |
2014.963 |
|
|
|
Other Income |
25.627 |
15.951 |
19.993 |
|
|
|
TOTAL (A) |
5567.685 |
3590.608 |
2034.956 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
4773.105 |
3094.530 |
|
|
|
|
Manufacturing service costs |
1.178 |
2.300 |
|
|
|
|
Employee related expenses |
34.734 |
18.092 |
|
|
|
|
Administrative selling other expenses |
351.998 |
147.619 |
|
|
|
|
TOTAL (B) |
5161.015 |
3262.541 |
1965.880 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
406.670 |
328.067 |
69.076 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
28.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
406.670 |
328.067 |
40.715 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.575 |
4.603 |
4.047 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
402.095 |
323.464 |
36.668 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
134.425 |
112.747 |
12.013 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
267.670 |
210.717 |
24.655 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
289.632 |
78.915 |
54.260 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
557.302 |
289.632 |
78.915 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
69.597 |
145.370 |
51.678 |
|
|
TOTAL EARNINGS |
69.597 |
145.370 |
51.678 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
4460.246 |
3328.675 |
1842.703 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.53 |
42.14 |
4.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.81 |
5.87
|
1.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.26 |
9.05
|
1.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.38 |
15.68
|
3.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
0.57
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.58 |
0.52
|
1.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57 |
1.67
|
1.39 |
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 |
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 |
Yes |
|
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 |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
|
As on 31.03.2011 |
As on 31.03.2010 |
|
Debts bonds other instruments unsecured |
240.000 |
0.000 |
|
Working capital loans others unsecured |
6.229 |
60.355 |
|
|
|
|
|
Total |
246.229 |
60.355 |
LISTING OF SECURITIES
The Company’s Equity Shares are listed on following stock exchanges:
i. The Calcutta Stock Exchange Limited
REVIEW OF OPERATIONS
It would be their pleasure to inform you that the Company has yielded a good growth during the previous financial year. Subject has earned a gracious net profit of Rs.267.700 Millions for the financial year ended on 31st day of March 2011. Sales of the Company shows a steep inclination of Rs.1967.300 Millions in F.Y. 2010-11. This is a continuous endeavor of your Directors to bring best value to your investments.
MANAGEMENT
DISCUSSION AND ANALYSIS
OVERVIEW
The financial statements are prepared in compliance with the
requirements of the Companies Act, 1956. There are no material departures from the
prescribed Accounting Standards and in the adoption of the Accounting
Standards. The management of Subject accepts responsibility for the integrity
and objectivity of these financial statements.
REVIEW OF OPERATIONS:
Company is engaged mainly in trading of Chemicals like Ha, Paraffin Solvents, Isodecyl Alcohol (IDA), C-20 Compounds, Heavy Normal Paraffin, Toluene, Isopropyl Alcohol (IPA) Benzene, Mono Ethylene Glycol (MEG, Mixed Xylene, Base Oils etc. These products are imported for trading purposes in India as well as in overseas market. Today it is one of the leading importers of petrochemical products in India. As the basic petrochemical products are used for the manufacture of basic raw material for many industries at large, their demand is ever growing. These raw materials are highly used in the pharmaceuticals, paints & thinners, agrochemicals, pesticides, fire chemicals, polyester resins, emulsifiers, wire enamels, rubber, printing ink, lamination and packaging, lubricants, and detergents.
The Indian economy has emerged with remarkable rapidity from the slowdown caused by the global economic crisis and emerged stronger in 2011. The Indian economy is estimated to grow at 8.6 per cent in 2010-11 as compared to the growth rate of 8.0 per cent in 2009-10. The overall performance during the year 2009-11 has been very satisfactory considering the yet prevailing slump down in global economy. Although the global economic conditions were not as worse as those were during F.Y.2008-09 but improvement rate in the world market remained on the moderate side of progress.
Performance of Indian Rupee against Dollar had improved significantly in the year 2009-2010. During current fiscal year, the monthly average exchange rate of Indian Rupee has generally been range bound, moving in range of Rs.44-47 per US Dollar between April and December
2010 According TO Economic Survey 2010-11. The Exchange Rate of Indian Rupee depreciated by 1.5% against the US Dollar. During the financial year under review in India, the overall imports in Chemicals and Petrochemicals decreased from 9.2% to 7.2%.
Since, the Company possesses a strong network of highly skilled and motivated marketing team spread nation-wide consisting of agents & distributors, and a growing list of industry leaders as customers it has been successful in gaining an competitive edge. The Management team maintains a very close contact to get the feedback of customer needs. While remaining ahead in adaptability of most modern technologies in this competitive age, the Company attaches substantial value to the emotional and personal relationships while dealing with customers, employees and the society, at large. Due to these valuable assets in its bag, the Company has yielded audited turnover to the tune of Rs. 5559.400 Millions i.e. Turnover of the Company increased by Rs.1967.300 Millions in Comparison to previous financial year.
The Financial Results of the Company shows a tremendous positive potential of building a highly respectable image in the petrochemical trading sector. The Company is on the path of growth defeating price fluctuations and other market vagaries.
CONTINGENT
LIABILITIES
(i) Contingent Liabilities are defined in AS 29 on “Provision on Contingent Liabilities and Contingent Assets” issued by the Institute of Chartered Accountants of India, are disclosed by the way of Notes to Accounts. Provision is made, if it becomes probable that an outflow of future economic benefits will be required for the item previously dealt with as Contingent Liability.
(ii) Net Outstanding LC’s with Bank: Rs.480.045 Millions (Previous Rs.209.227 Millions)
(iii) Company has filed suit for recovery of possession of property owned by company and damages against 4 tenants before Hon’ble Delhi High Court which is sub- judice, and such legal proceedings are at different stages as at the date of the Balance Sheet and are expected to materialise in recovering the dues in the future.
(iv) In respect of Bank Guarantees given to different parties Rs.0.600 Million (Previous Rs.0.600 Million)
FIXED ASSETS
- Land
- Building
- Office Equipments
- Computer Equipments
- Furniture and Fixtures
- Vehicles
- Knowhow
- Goodwill
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.54.38 |
|
|
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.