MIRA
INFORM REPORT
|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
DOW CHEMICALS INTERNATIONAL PRIVATE LIMITED (w.e.f. 01.11.1999) |
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Formerly Known
As : |
DOW (INDIA) SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
1st Floor, Block B, Godrej IT Park, 02, Godrej, Business District,
Pirojshanagar, Vikroli (West) Mumbai – 400079, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
13.02.1998 |
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Com. Reg. No.: |
11-113551 |
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Capital Investment
/ Paid-up Capital : |
Rs.27.614 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1998PTC113551 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD10067B |
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PAN No.: [Permanent Account No.] |
AAACD4467B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Chemicals (Solid, Liquid and Gaseous),
Chemical Compound and Chemical Products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 19000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established an There seems some continuous dip in the profitability of the company. However, general financial position of the company is good. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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 BY
MANAGEMENT NON CO-OPERATIVE
Contact No.:91-22-67323000
LOCATIONS
|
Registered Office : |
1st Floor, Block B, Godrej IT Park, 02, Godrej, Business District,
Pirojshanagar, Vikroli (West) Mumbai – 400079, Maharashtra, India |
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Tel. No.: |
91-22-67832300 |
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Fax No.: |
91-22-26524217 |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
G-Block, C/62, 2nd Floor, Vibgyor
Towers, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra,
India |
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Tel. No.: |
91-22-67832300 |
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Fax No.: |
91-22-26525691 |
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Corporate Office 2
: |
Unit No. 9, 1st Floor, Sakhi House, Corporate Park, V. N. Purav Marg, Chembur, Mumbai-400071, Maharashtra, India |
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Tel. No.: |
91-22-67985700/25245830 |
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Fax No.: |
91-22-67985739 |
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Website : |
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Business Process Services Center : |
C/O Tata Consultancy Services Ltd., Kensington B Wing,
13th Floor, Phase III, Hiranandani Business Park, SEZ, Powai, Mumbai-400076, Maharashtra,
India. |
|
Tel. No. : |
91-22-67323000 |
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Fax No.: |
91-22-67327362 |
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Commercial Office: |
HCC 247 Park, 2nd Floor, Tower B
(Hincon House), LBS Road, Vikhroli West, |
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Tel. No. : |
91-22-66028888 |
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Fax No.: |
91-22-66028868 |
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P U System House : |
Plot No.8-A/1/2, Thane Belapur Road, Kalwa Block, Turbhe, Navi
Mumbai-400703, Maharashtra, India |
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Tel. No. : |
91-22-67934900 |
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Fax No.: |
91-22-27602532 |
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Dow Advanced Materials – Manufacturing: |
Plot No. T-22/PT, MIDC, Taloja
Industrial Area, Raigad District, Taloja-410208, |
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Tel. No. : |
91-22-67315555 |
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Fax No.: |
91-22-67315569 |
DIRECTORS
(AS ON 28.09.2012)
|
Name : |
Mr. Vipul Shah |
|
Designation : |
Managing Director |
|
Address : |
69/A, Jai Bharat Society, 3rd Road, Khar (West), Mumbai –
400052, Maharashtra, India |
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Date of Birth/Age : |
20.10.1959 |
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Date of Appointment : |
18.10.2011 |
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DIN No.: |
00174680 |
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PAN No.: |
AAEJH4578A |
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|
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Name : |
Mrs. Ramolla Tarachand Karnani |
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Designation : |
Director |
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Address : |
701 – 702, Anant Basera, S S Patkar Mahavidhyalaya Marg, Off S V Road,
Goregaon (West), Mumbai – 400062, Maharashtra, India |
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Date of Birth/Age : |
11.08.1959 |
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Date of Appointment : |
29.07.2004 |
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DIN No.: |
00174531 |
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PAN No.: |
AAEPK7929A |
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|
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Name : |
Mr. Chandrakant Nayak |
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Designation : |
Director |
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Address : |
C – 31/266 MIG Colony, Gandhi Nagar, Bandra, Mumbai – 400051, |
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Date of Birth/Age : |
09.08.1966 |
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Date of Appointment : |
26.11.2006 |
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DIN No.: |
00680762 |
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PAN No.: |
AAEPN2157M |
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|
Name : |
Mr. Michel Barrier |
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Designation : |
Additional Director |
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Address : |
Cama Terrasses 26, Altamount Road, Mumbai – 400023, Maharashtra, India |
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Date of Birth/Age : |
08.02.1958 |
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Date of Appointment : |
25.03.2011 |
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DIN No.: |
03365174 |
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PAN No.: |
BACPB7614L |
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Name : |
Mr. Subhash Shrinivas Mukadam |
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Designation : |
Additional Director |
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Address : |
F33, 2/3, Prem Sagar CHS, Sector 29, Vashi, Navi Mumbai – 400703,
Maharashtra, India |
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Date of Birth/Age : |
05.05.1969 |
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Date of Appointment : |
06.09.2011 |
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DIN No.: |
03593259 |
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PAN No. |
ABGPM8026Q |
KEY EXECUTIVES
|
Name : |
Mrs. Ramolla Tarachand Karnani |
|
Designation : |
Secretary |
|
Address : |
701 – 702, Anant Basera, S S Patkar Mahavidhyalaya Marg, Off S V Road,
Goregaon (West), Mumbai – 400062, Maharashtra, India |
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Date of Birth/Age : |
11.08.1959 |
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Date of Appointment : |
01.06.2001 |
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PAN.: |
AAEPK7929A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
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|
Dow Chemical Pacific (Singapore) Pte Limited, Singapore |
|
2761420 |
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Dow Chemical Pacific (Singapore) Pte Limited, Singapore |
|
20 |
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|
|
|
|
Total |
|
2761440 |
(AS ON 28.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
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|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Chemicals (Solid, Liquid and Gaseous),
Chemical Compound and Chemical Products. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Polyurechane Systems |
MT |
29000 |
16444 |
|
Cross Lonkers |
MT |
1000 |
0.000 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
CITI Bank, Fort, Mumbai, Maharashtra, India ·
Bank
of America, National Association, 16th Floor, Express Towers,
Nariman Point, Mumbai – 400 026, Maharashtra, India |
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|
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai –
400018, Maharashtra, India |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679025 |
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PAN No.: |
AACFD4815A |
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Holding Company
: |
·
Dow Chemical Pacific (Singapore) Pte Limited |
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Ultimate Holding
Company: |
·
The Dow Chemical Company, USA |
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Fellow Subsidiary Company : |
· ANGUS Chemical Company · ANGUS Chemie GmbH · DCOMCO Inc Fellow subsidiary · Dow AgroSciences India Private Limited · Dow AgroSciences L L C · Dow AgroSciences Southern Africa (Proprietary) Limited · Dow AgroSciences Switzerland S.A. · Dow Belgium B.V.B.A. · Dow Benelux B.V. · Dow Brasil S.A. · Dow Brasil Sudeste Industrial Limited · Dow Chemical (Australia) Limited · Dow Chemical (China) Company Limited · Dow Chemical (China) Investment Company Limited · Dow Chemical (China) Investment Company Limited, Guangzhou branch · Dow Chemical (Guangzhou) Company Limited · Dow Chemical (Malaysia) Sdn. Bhd. · Dow Chemical (Shanghai) Company Limited. · Dow Chemical (Zhangjiagang) Company Limited · Dow Chemical Canada ULC · Dow Chemical Iberica S.L. · Dow Chemical IMEA GmbH · Dow Chemical Japan Limited · Dow Chemical Korea Limited · Dow Chemical Pacific Limited · Dow Chemical Taiwan Limited · Dow Chemical Thailand Limited · Dow Deutschland Anlagengesellschaft MbH · Dow Engineering Company · Dow Europe GmbH · Dow France S.A.S. · Dow International Technology Corporation · Dow Italia Divisione Commerciale s.r.l · Dow Italia S.R.L. · Dow Olefinverbund GmbH · Dow Plastics Southern Africa · Dow Portugal - Produtos Quimicos, Unipessoal, Lda. · Dow Southern Africa (Pty) Limited · Dow Stade Produktions GmbH and Company OHG · Dow Turkiye Kimya Sanayi ve Ticaret Limited Sirketi · Dow Hydrocarbons and Resources LLC · Carbide Chemical (Thailand) Limited · FilmTec Corporation · Global Industrial Corporation · Hampshire Chemical Corp. · Pt Dow Indonesia · Rohm and Haas Chemicals LLC · Rohm and Haas (India) Private Limited · UCAR Emulsion Systems Fze · UCAR Pipeline Incorporated · Zhejiang Pacific Chemical Corporation · Dow Chemical (Wuhan) Company Limited · Dow Chemical (NZ) Limited · Dow Chemical Korea Limited - Hongkong Branch · Dow Chemical Thailand Limited - Hongkong Branch · Rohm and Haas Singapore (Pte) Limited · Rohm and Haas Japan Kabushiki Kaisha · Dow AgroSciences (NZ) Limited · P.T Dow Agrosciences Indonesia · PT Dow Indonesia Fellow subsidiary · Rohm and Haas Philippines Inc · Hyperlast Limited |
|
|
|
|
Associates : |
·
Anabond Revocoat India
Private Limited ·
Siam Polyethylene
Company Limited ·
Siam Synthetic Latex
Company Limited ·
MEGlobal
International IiZE |
CAPITAL STRUCTURE
(AS ON 28.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2761440 |
Equity Shares |
Rs.10/- each |
Rs.27.614 Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
27.614 |
27.614 |
27.614 |
|
(b) Reserves & Surplus |
4775.839 |
4091.883 |
3348.430 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
4803.453 |
4119.497 |
3376.044 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
98.946 |
101.498 |
83.665 |
|
Total Non-current Liabilities (3) |
98.946 |
101.498 |
83.665 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2489.197 |
1451.983 |
1070.882 |
|
(b) Trade payables |
3060.736 |
3216.028 |
3962.768 |
|
(c) Other current
liabilities |
339.139 |
367.664 |
313.617 |
|
(d) Short-term provisions |
130.913 |
142.745 |
42.853 |
|
Total Current Liabilities (4) |
6019.985 |
5178.420 |
5390.120 |
|
|
|
|
|
|
TOTAL |
10922.384 |
9399.415 |
8849.829 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
860.706 |
1031.053 |
1133.905 |
|
(ii) Intangible Assets |
0.619 |
0.369 |
10.227 |
|
(iii) Capital
work-in-progress |
8.685 |
92.779 |
30.381 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
156.717 |
129.052 |
105.761 |
|
(d) Long-term Loan and Advances |
880.112 |
656.134 |
660.023 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1906.839 |
1909.387 |
1940.297 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3358.087 |
3542.972 |
2946.382 |
|
(c) Trade receivables |
4009.506 |
2974.828 |
3191.601 |
|
(d) Cash and cash
equivalents |
1039.940 |
45.974 |
84.727 |
|
(e) Short-term loans and
advances |
606.902 |
824.944 |
662.220 |
|
(f) Other current assets |
1.110 |
101.310 |
24.002 |
|
Total Current Assets |
9015.545 |
7490.028 |
6908.932 |
|
|
|
|
|
|
TOTAL |
10922.384 |
9399.415 |
8849.229 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12419.000 |
10335.700 |
10302.000 |
|
|
|
Commission |
826.200 |
785.800 |
485.300 |
|
|
|
Income from Services rendered |
3185.700 |
3001.500 |
2857.000 |
|
|
|
Technical Service Income |
0.000 |
24.300 |
4.100 |
|
|
|
Other Income |
113.300 |
49.900 |
397.700 |
|
|
|
TOTAL (A) |
16544.200 |
14197.200 |
14046.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
15515.000 |
13074.100 |
12484.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Financial and Depreciation) |
(Including
Financial and Depreciation) |
1562.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
87.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
1475.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
304.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1029.200 |
1123.100 |
1170.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
345.200 |
379.600 |
257.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
684.000 |
743.500 |
913.300 |
|
|
|
|
|
|
|
|
|
Add/ Less |
SHORT PROVISION
FOR TAX IN RESPECT OF EARLIER YEARS (NET) |
NA |
NA |
(37.300) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
2287.300 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
3163.300 |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
NA |
3600.000 |
3507.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
247.70 |
269.24 |
330.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.13
|
5.24
|
6.50
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.29
|
10.87
|
11.37
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.57
|
12.24
|
15.47
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.27
|
0.35
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.52
|
0.35
|
0.32
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.45
|
1.28
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOANS
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Short Term Borrowings |
|
|
|
Working Capital
Loan from bank |
639.197 |
601.983 |
|
Loans repayable
on demand from Banks |
400.000 |
0.000 |
|
Loans and
advances from related parties |
1450.000 |
850.000 |
|
|
|
|
|
Total |
2489.197 |
1451.983 |
NOTE:
The Registered office of the company has been shifted from Corporate
Par, Unit No.1, V. N. Purav Marg, Chembur – 400071, Maharashtra, India, to the
present address w.e.f. 02.05.2012.
FINANCIAL PERFORMANCE
During the year
the company has delivered an impressive performance, with sales at Rs.12419.000
Millions registering an increase of 20% as compared to Rs.10335.700 Millions in
the previous year. However, the profit after tax at Rs.684.000 Millions
decreased by about 8%, as compared to the previous year, on account of increase
in the cost of raw materials. The uncertain political and economic scenario in
the country also contributed to this rather disheartening performance.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
|
|
|
|
Sales tax and cess demands disputed in appeals* |
57.324 |
28.994 |
|
These relates mainly to non- submission of C & F forms and dispute
as regards classification of goods (pending at various stages, from Joint Commissioner
(Appeals) to the High Court(s)) |
|
|
|
|
|
|
|
Total |
57.324 |
28.994 |
INDEX OF CHARGES
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90384554 |
08/10/2002 |
2,500,000.00 |
BANK OF AMERICA |
EXPRESS TOWER, NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
2 |
90376793 |
17/02/1969 * |
1,890,000.00 |
PUNJAB AND SIND BANK |
KAROL BAGH, NEW DELHI, DELHI, INDIA |
- |
* Date of modification charge
FIXED ASSETS:
· Leasehold Land
· Building
· Office Building
· Leasehold Improvement
· Plant, Machinery and Equipment
· Furniture and Fixture
· Office Equipment
· Computers
· Vehicles
· Software
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 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.62.45 |
|
|
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.