MIRA INFORM REPORT
|
Report Date : |
15.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
HPM CHEMICALS AND FERTILIZERS LIMITED (w.e.f.21.06.2011) |
|
|
|
|
Formerly Known
As : |
HIM PULVERISING MILLS LIMITED |
|
|
|
|
Registered
Office : |
209-210, Anupam Bhawan, Azadpur Commercial Compelx, Azadpur,
Delhi-110033 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.06.1985 |
|
|
|
|
Com. Reg. No.: |
55-021149 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 50.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15313DL1985PLC021149 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH04042D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH0623D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged in the manufacturing activities of Agro Chemicals, pesticides and
technical products for agriculture purposes and trading of fertilizers. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2235000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The ratings reflect the benefits that HPM Chemicals derive from its
promoter’s extensive experience, its large portfolio of formulations and
strong marketing network. Profitability of the company appears to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are regular. The company can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
May 28, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
May 28, 2013 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE [91-11-45071800]
LOCATIONS
|
Registered / Head Office : |
209-210, Anupam Bhawan, Azadpur Commercial Compelx, Azadpur,
Delhi-110033, India |
|
Tel. No.: |
91-11-45071800-899 |
|
Fax No.: |
91-11-27681800 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Samba Factory (Unit-1)
: Industrial Growth Center, Samba- 184121, Jammu and Kashmir, India |
|
|
|
|
Factory 2 : |
Khuskhera Factory Unit-1/3: SP-9D, RIICO Industrial Area, Khushkhera-301707, Rajasthan, India |
|
|
|
|
Warehouse : |
Located at: ·
Jammu ·
Ludhiana ·
Ganganagar ·
Jaipur ·
Ahmedabad ·
Pune ·
Akola ·
Bellary ·
Hyderabad ·
Vijaywada ·
Coimbatore ·
Kochi ·
Ghaziabad ·
Lucknow ·
Indore ·
Raipur ·
Bhubaneswar ·
Ranchi ·
Patna ·
Kolkata ·
Guwahati |
|
|
|
|
Branch Office / Depot : |
Located at: ·
Hissar ·
Kichha ·
Karnal |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Nikhil Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
BT-30, Shalimar Bagh, |
|
Date of Birth/Age : |
24.05.1978 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AALPA5437C |
|
DIN No.: |
00206865 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U15313DL1985PLC021149
|
HPM CHEMICALS
AND FERTILIZERS LIMITED |
Managing
director |
01/04/2011 |
27/08/2001 |
Active |
NO |
|
2 |
U24129DL1998PLC091628
|
HINDUSTAN KRISHI
BIO-TECH LIMITED |
Director |
26/08/2002 |
26/08/2002 |
Active |
NO |
|
3 |
U24211DL2003PLC121287
|
HPM CROP SCIENCE
LIMITED |
Director |
14/07/2003 |
14/07/2003 |
Active |
NO |
|
4 |
U24211DL2008PTC182300
|
SHRISONS CROP
SOLUTIONS PRIVATE LIMITED |
Director |
22/08/2008 |
22/08/2008 |
Active |
NO |
|
Name : |
Mr. Ashok Kumar Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
BT-30, Shalimar Bagh, |
|
Date of Birth/Age : |
11.09.1953 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
ADQPA1913P |
|
DIN No.: |
01147859 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U15313DL1985PLC021149
|
HPM CHEMICALS
AND FERTILIZERS LIMITED |
Managing
director |
01/04/2011 |
01/12/1990 |
Active |
NO |
|
2 |
U24211DL2003PLC121287
|
HPM CROP SCIENCE
LIMITED |
Director |
14/07/2003 |
14/07/2003 |
Active |
NO |
|
3 |
U24129DL1998PLC091628
|
HINDUSTAN KRISHI
BIO-TECH LIMITED |
Director |
01/08/2009 |
01/08/2009 |
Active |
NO |
|
Name : |
Mr. Gopi Ram Agarwal |
|
Designation : |
Whole-time director |
|
Address : |
Sector No.2, House No.18, R H B Bhiwadi-301019, Rajasthan, India |
|
Date of Birth/Age : |
20.05.1962 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03391547 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24211DL2003PLC121287
|
HPM CROP SCIENCE
LIMITED |
Director |
18/12/2010 |
18/12/2010 |
Active |
NO |
|
2 |
U15313DL1985PLC021149
|
HPM CHEMICALS
AND FERTILIZERS LIMITED |
Whole-time
director |
01/04/2011 |
20/12/2010 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Akhil Kansal |
|
Designation : |
Company Secretary |
|
Address : |
D/1/167, 2nd Floor, Sector-11, Rohoni, New Delhi-110085,
India |
|
Date of Birth/Age : |
01.04.1976 |
|
Date of Appointment : |
11.10.2001 |
|
PAN No.: |
ALJPK8445M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Santosh Aggarwal |
121790 |
|
Nikhil Aggarwal |
126284 |
|
Arun Kr. Goel |
11 |
|
Ashok Aggarwal |
206722 |
|
Niti Aggarwal |
625 |
|
Gopi Ram Aggarwal |
23 |
|
Hindustan Krishi Bio-Tech Limited, India |
44545 |
|
|
|
|
Total |
500000 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
8.90 |
|
Directors or relatives of Directors |
91.10 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the manufacturing activities of Agro Chemicals, pesticides and
technical products for agriculture purposes and trading of fertilizers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
· State Bank of India, SME Branch, Town Hall, Chandni Chowk, New Delhi-110006, India · Syndicate Bank, Central Market, Punjabi Bagh, New Delhi - 110026, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohit Parekh and Company Chartered Accountants |
|
Address : |
572, 2nd Floor, Gandhi Cloth Market, Chandni Chowk,
Delhi-110006, India |
|
PAN No.: |
AAHPP2532M |
|
|
|
|
Related Parties : |
·
HPM Crop Science Limited ·
Hindustan Krishi Biotech Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 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 |
|
50.000 |
44.000 |
|
(b) Reserves & Surplus |
|
508.913 |
345.747 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
558.913 |
389.747 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
95.633 |
75.862 |
|
(b) Deferred tax liabilities (Net) |
|
1.302 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
5.154 |
3.513 |
|
Total Non-current
Liabilities (3) |
|
102.089 |
79.375 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
819.858 |
352.031 |
|
(b) Trade
payables |
|
140.828 |
196.489 |
|
(c) Other
current liabilities |
|
209.723 |
140.096 |
|
(d) Short-term
provisions |
|
55.607 |
47.897 |
|
Total Current
Liabilities (4) |
|
1226.016 |
736.513 |
|
|
|
|
|
|
TOTAL |
|
1887.018 |
1205.635 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
196.867 |
165.680 |
|
(ii)
Intangible Assets |
|
4.629 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.096 |
12.877 |
|
(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 |
|
7.777 |
9.300 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
209.369 |
187.857 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
1.909 |
0.000 |
|
(b)
Inventories |
|
661.700 |
553.431 |
|
(c) Trade
receivables |
|
648.864 |
347.523 |
|
(d) Cash
and cash equivalents |
|
121.272 |
54.654 |
|
(e)
Short-term loans and advances |
|
33.003 |
56.272 |
|
(f) Other
current assets |
|
210.901 |
5.898 |
|
Total
Current Assets |
|
1677.649 |
1017.778 |
|
|
|
|
|
|
TOTAL |
|
1887.018 |
1205.635 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
44.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
213.159 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
257.159 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
222.132 |
|
|
2] Unsecured Loans |
|
|
9.824 |
|
|
TOTAL BORROWING |
|
|
231.956 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
489.115 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
115.515 |
|
|
Capital work-in-progress |
|
|
40.584 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
384.665 |
|
|
Sundry Debtors |
|
|
220.144 |
|
|
Cash & Bank Balances |
|
|
40.601 |
|
|
Other Current Assets |
|
|
16.891 |
|
|
Loans & Advances |
|
|
40.486 |
|
Total
Current Assets |
|
|
702.787 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
197.326 |
|
|
Other Current Liabilities |
|
|
160.478 |
|
|
Provisions |
|
|
11.967 |
|
Total
Current Liabilities |
|
|
369.771 |
|
|
Net Current Assets |
|
|
333.016 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
489.115 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2690.752 |
1883.756 |
1600.261 |
|
|
|
Other Income |
9.323 |
14.819 |
18.387 |
|
|
|
TOTAL (A) |
2700.075 |
1898.575 |
1618.648 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1207.898 |
974.147 |
|
|
|
|
Purchase of Stock In Trade |
446.182 |
52.907 |
|
|
|
|
Employee benefits expenses |
100.985 |
80.912 |
|
|
|
|
Other Expenses |
737.434 |
684.962 |
|
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
(124.611) |
(127.637) |
|
|
|
|
TOTAL (B) |
2367.888 |
1665.291 |
1530.330 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
332.187 |
233.284 |
88.318 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
89.792 |
34.306 |
24.358 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
242.395 |
198.978 |
63.960 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.247 |
18.544 |
13.540 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
221.148 |
180.434 |
50.420 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
51.983 |
47.846 |
8.814 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
169.165 |
132.588 |
41.606 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
365.76 |
301.34 |
2.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.27
|
6.98 |
2.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.22
|
9.58 |
3.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.72
|
15.13 |
6.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.46 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.64
|
1.10 |
0.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.38 |
1.90 |
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits form Others |
95.633 |
75.862 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances from Others |
426.793 |
57.220 |
|
|
|
|
|
Total |
522.426 |
133.082 |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10428182 |
19/08/2013 * |
959,400,000.00 |
State Bank of India |
SME Branch, Town Hall,, Chandni Chowk,,
New Delhi, Delhi - 110006, India |
B84782143 |
|
* Date of charge modification |
||||||
Note:
The registered office of the company has been shifted from 209-210, Anupam
Bhawan, Azadpur Commercial Compelx, Azadpur, Delhi-110033, India to the present
w.e.f.10.01.2011
CORPORATE
INFORMATION
Subject is a
public company domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are not listed. The Company is engaged in the
manufacturing activities of Agro Chemicals, pesticides and technical products
for agriculture purposes and trading of fertilizers. The Company caters to both
domestic and international markets.
OPERATIONS
During the period
the Company has achieved a growth of 41.80 % in the sales revenue as compared
to the previous year. Significant improvement and growth in business operation
has been achieved by meticulous planning with the integration of feedback from the
base level, market analysis inputs and insights. The hard work, dedication,
high motivation and focus on parts of all members of the company has been the
impelling factor for achieving a growth of 25% of growth in business. By
implementing SAP and networking all branches, factories and offices, the
Company has integrated and provided real time information to facilitate quick
and right decisions. Various reports on sales and procurement on a time scale
help to take major business decisions. The wise and scientific mapping of
entire business process has helped a lot to standardize and improve the
operational processes, provided control mechanisms through sophisticated checks
and balances, minimize duplication and reduce losses. Implementing SAP, HPM in
real sense has taken a giant leap towards its goal to lead the industry as a
most disciplined and dedicated corporate house.
REVIEW AND
PRODUCTION
They have achieved
significant breakthrough in developing new formulation technology for SC
formulation, which has also contributed to the growth in production.
Development of natural adjuvants for pesticide formulations is another
achievement to cite and commend the efforts of their R and D. Further the
company has erected the new technical plant for the manufacture of the
Technical Grade Pesticides and the company is started commercial production
QUALITY REVIEW
HPM has its
reputation as a quality conscious company always thriving for best of quality
products and services. The company has recently been re-certified for ISO 9001:
2000 its all branches and units by the TUV CERT Certification Body of RWTUV
Systems GmbH for another three years HPM’s commitment to quality and its
reputation can be visualized by the mere fact that each and every household in
rural farming community is familiar with HPM and its products. Adopting HPM’s
product by crores of farmers’ across the country is further indicative of very
high level of farmers’ satisfaction both in terms of quality and the
cost-benefit ratio. In fact adherence to its quality standards and maintaining
goodwill among its stakeholders has always remain the top priority for HPM.
More than 2100 samples of various batches of their products have been checked
by the authorities last year. Maintaining the trend of the past, during his
year also they have an impeccable record of almost perfection during these
checks with their products conforming to all parameters.
FIXED ASSETS
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipments
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer 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. 63.06 |
|
|
1 |
Rs. 101.15 |
|
Euro |
1 |
Rs. 84.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
NAY |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.