MIRA INFORM REPORT
|
Report Date : |
23.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KANDLA ENERGY AND CHEMICALS LIMITED [w.e.f.19.05.2009] |
|
|
|
|
Formerly Known
As : |
KANDLA ENERGY AND CHEMICALS PRIVATE LIMITED [w.e.f.12.05.2009] BHAGWATI REMIDES PRIVATE LIMITED
|
|
|
|
|
Registered
Office : |
11, Second
Floor, Shri Krishna Centre, Near Mithakhali Six Roads, Navrangpura, Ahmedabad
– 380009, Gujarat |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.03.2005 |
|
|
|
|
Com. Reg. No.: |
04-045642 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 210.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230GJ2005PLC045642 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTB01206C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB5722H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Exporter of Solvents such as Aromatic
and Aliphatic Chemicals. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3789000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. External borrowing of the company has increased in 2012. However, overall financial position of the company appears to be
decent. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered for business dealings at usual trade
terms and conditions. Note: Latest financial of 2013 are not available with us. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : BBB+ |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
February 15, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
February 15, 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 PARTED BY
|
Name : |
Mr. Avinash Goklani |
|
Designation : |
Senior Manager Finance |
|
Contact No.: |
91-79-40049350 |
|
Date : |
23.10.2013 |
LOCATIONS
|
Registered Office : |
11, Second
Floor, Shri Krishna Centre, Near Mithakhali Six Roads, Navrangpura, Ahmedabad
– 380009, Gujarat, India |
|
Tel. No.: |
91-79-40049350/ 32407411 |
|
Fax No.: |
91-79-26441472 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
4th Floor, Sarthik Annexe, Iscon Circle, S.G. Highway,
Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-40371268/ 69 |
|
Fax No.: |
91-79-26920718 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Survey No. 52/1 to 55, Village Devaliya, Taluka Anjar, District Kachchh, Gujarat, India |
|
|
|
|
Branch Offices : |
Located at: · Mumbai · New Delhi · Bangalore · United Arab Emirates |
DIRECTORS
AS ON 10.08.2013
|
Name : |
Mr. Sanjayprakash Baleshwar Rai |
|
Designation : |
Managing Director |
|
Address : |
D.B.Z
North-128-A Gandhidham – 370201, Gujarat, India |
|
Date of Birth/Age : |
39 Years |
|
Qualification : |
M.B.A |
|
Experience : |
18 Years |
|
Date of Appointment : |
01.06.2009 |
|
PAN No.: |
ABRPR7319H |
|
DIN No.: |
02177830 |
|
|
|
|
Name : |
Kanchan Sanjayprakash Rai |
|
Designation : |
Whole-Time Director |
|
Address : |
Plot
No-656, 12/C Lilashahnagar, Gandhidham – 370201, Gujarat, India |
|
Date of Birth/Age : |
30 Years |
|
Qualification : |
M.B.A |
|
Experience : |
10 Years |
|
Date of Appointment : |
01.06.2009 |
|
DIN No.: |
02177351 |
|
|
|
|
Name : |
Mr. Arun Dwarkaprasad Karwa |
|
Designation : |
Director |
|
Address : |
J-504,
Near Subhash Bridge Corner, Shahibaug, Ahmedabd – 380004, Gujarat, India |
|
Date of Birth/Age : |
12.02.1961 |
|
Date of Appointment : |
21.07.2012 |
|
DIN No.: |
03581820 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant Khandelwal |
|
Designation : |
Director Trade (Functional) |
|
Date of Birth/Age : |
36 Years |
|
Qualification : |
CA |
|
Experience : |
12 Years |
|
|
|
|
Name : |
Mr. Prakash Verma |
|
Designation : |
CEO - Power Trading |
|
Date of Birth/Age : |
60 Years |
|
Qualification : |
MBA, BE |
|
Experience : |
32 Years |
|
|
|
|
Name : |
Mr. Rajesh Sharama |
|
Designation : |
Chief Operating Officer |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
B.E. Chemical |
|
Experience : |
27 Years |
|
|
|
|
Name : |
Mr. Mukteshwar Prashad Sharma |
|
Designation : |
Senior Vice President - Sales and Marketing |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
D.B.E., M.Ed. |
|
Experience : |
34 Years |
|
|
|
|
Name : |
Mr. Avinash Goklani |
|
Designation : |
Senior Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sanjayprakash B. Rai |
|
19786000 |
|
Kanchan S. Rai |
|
1000 |
|
Amit Agarwal |
|
183500 |
|
Kamlesh Agarwal |
|
122500 |
|
Vijay Singh |
|
295000 |
|
Rajesh Patel |
|
163500 |
|
Vikram Hingorani |
|
158500 |
|
Pradeep T. Rai |
|
160000 |
|
Pradeep M. Chellani |
|
130000 |
|
|
|
|
|
Total |
|
21000000 |
AS ON 10.08.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporter of Solvents such as Aromatic and
Aliphatic Chemicals. |
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Products/ Services : |
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Exports : |
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Products : |
Aromatic and Aliphatic Chemicals. |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
Licensed Capacity - N.A.
Installed Capacity - 120000 K.L.
|
Particulars |
Actual Production Qty. K.L. |
|
Kefol-300 |
2416.487 |
|
Kesol-100 |
50283.274 |
|
Kesol-150 |
5052.571 |
|
Kesol-200 |
735.285 |
|
Kemax-80 |
1462.612 |
|
Kemol-16/22 |
28.470 |
|
Kemol-20/30 |
18.483 |
|
Kemol-40 |
75.335 |
|
Kemol-50/120 |
2.940 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors 1 : |
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|
Name : |
Pankaj R Shah and Company Chartered Accountants |
|
Address : |
1, GF, Raghav Flat, 55 Chaitanya Nagar Society, Stadium
Road, Navrangpura, Ahmedabad – 380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ALOPS1089A |
|
Auditors 2 : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
|
|
|
Subsidiary Company : |
Kandla Energy and Chemicals DMCC |
CAPITAL STRUCTURE
AS ON 10.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs. 10/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21000000 |
Equity Shares |
Rs. 10/- each |
Rs.210.000
Millions |
|
|
|
|
|
AS ON 31.03.2012
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 |
|
|
|
|
|
|
21000000 |
Equity Shares |
Rs. 10/- each |
Rs.210.000
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 |
|
210.000 |
157.000 |
|
(b) Reserves & Surplus |
|
737.301 |
325.450 |
|
(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) |
|
947.301 |
482.450 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
87.369 |
168.027 |
|
(b) Deferred tax liabilities (Net) |
|
26.186 |
23.785 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
113.555 |
191.812 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
978.590 |
397.177 |
|
(b)
Trade payables |
|
1177.031 |
364.542 |
|
(c)
Other current liabilities |
|
26.091 |
3.914 |
|
(d)
Short-term provisions |
|
27.432 |
55.481 |
|
Total
Current Liabilities (4) |
|
2209.144 |
821.114 |
|
|
|
|
|
|
TOTAL |
|
3270.000 |
1495.376 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
271.543 |
276.600 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
9.124 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
42.784 |
1.014 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
27.590 |
1.697 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
351.041 |
279.311 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1360.120 |
389.954 |
|
(c)
Trade receivables |
|
1239.584 |
732.592 |
|
(d)
Cash and cash equivalents |
|
199.259 |
80.253 |
|
(e)
Short-term loans and advances |
|
119.996 |
13.266 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
2918.959 |
1216.065 |
|
|
|
|
|
|
TOTAL |
|
3270.000 |
1495.376 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
110.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
81.365 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
191.365 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
217.818 |
|
|
2] Unsecured Loans |
|
|
85.774 |
|
|
TOTAL BORROWING |
|
|
303.592 |
|
|
|
|
|
|
|
|
OTHER LIABILITIES |
|
|
12.113 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
507.070 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
292.545 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
124.789 |
|
|
Sundry Debtors |
|
|
248.170 |
|
|
Cash & Bank Balances |
|
|
25.257 |
|
|
Other Current Assets |
|
|
1.062 |
|
|
Loans & Advances |
|
|
35.626 |
|
Total
Current Assets |
|
|
434.904 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
166.396 |
|
|
Other Current Liabilities |
|
|
4.479 |
|
|
Provisions |
|
|
49.504 |
|
Total
Current Liabilities |
|
|
220.379 |
|
|
Net Current Assets |
|
|
214.525 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
507.070 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
4778.456 |
2687.346 |
780.698 |
|
|
|
Other Income |
133.710 |
94.853 |
21.266 |
|
|
|
TOTAL (A) |
4912.166 |
2782.199 |
801.964 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3655.785 |
1907.762 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(186.220) |
(11.076) |
|
|
|
|
Employee benefit expense |
44.448 |
32.378 |
|
|
|
|
Other expenses |
523.589 |
342.138 |
|
|
|
|
TOTAL (B) |
4037.602 |
2271.202 |
671.137 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
874.564 |
510.997 |
130.827 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
205.657 |
57.657 |
26.418 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
668.907 |
453.340 |
104.409 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.007 |
42.943 |
19.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
627.900 |
410.397 |
85.313 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
216.048 |
147.996 |
33.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
411.852 |
262.401 |
52.107 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
2161.955 |
638.696 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.61 |
16.71 |
4.74 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
7030.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.8260.000 Millions
The above information has been parted by Mr. Avinash Goklani
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.38
|
9.43 |
6.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.14
|
15.27 |
10.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.51
|
27.46 |
11.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66
|
0.85 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.13
|
1.17 |
1.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.48 |
1.97 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note:
The Registered Office of the company has been shifted from DBZ-N- 128
/A, Main Market, Gandhidham, Kutch – 370201, Gujarat, India to the present
address w.e.f. 01.04.2009
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10370827 |
24/01/2013 * |
1,718,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FIANCE BRANCH,
1ST FLOOR, NEPTUNE TOWER ANNEXE, NEHRU BRIDGE, OFF ASHRAM ROAD, AHMEDABAD -
380009, |
B67371500 |
|
2 |
10152449 |
31/07/2013 * |
3,958,400,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, INDUSTRIAL FINANCE BRANCH, NEPTUNE TOWER ANNEXE, NEAR SAKAR VII, ASHRAM ROAD, AHMEDABAD - 380006, GUJARAT, INDIA |
B81000796 |
* Date of charge modification
UNSECURED LOANS
|
Particular |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM BORROWINGS |
|
|
|
Deposits from directors |
11.685 |
73.396 |
|
|
|
|
|
Total |
11.685 |
73.396 |
NATURE OF OPERATION:
Nature of activities of the subject is manufacturing of Solvents
such as Aromatic and Aliphatic Chemicals. The plant is situated at Village
Devaliya, Taluka Anjar, Kachchh in the state of Gujarat.
REVIEW OF OPERATIONS:
During the year, the Company achieved Gross sales turnover of Rs 5344.272 Millions compared to previous year sales of Rs. 3059.575 Millions. The profit before depreciation and tax has increased to Rs.668.906 Millions from Rs. 453.340 Millions. The net profit after tax has increased to Rs. 411.852 Millions from Rs. 262.401 Millions. Thus, the net profit has increased by 43% as compared to the year 2010-11.
Their team has worked very hard and continuously widening
the market. The qualities of their products are under continuous improvement to
meet with the expectations of domestic customers as well as international
customers. We have been able to enlarge their market share.
FUTURE PROSPECTS:
The company is expanding its marketing and production network. The company is in process of acquiring a company having production facility near Mumbai to bring synergies in sales. The new plant will improve the bottom line of the company as the company will save in terms of the logistic cost for the material procured from RIL's Patalganga Plant and will also save CST.
The company also plans to open Procurement and Sales Offices in London and Hong Kong.
The company is exploring opportunities to establish full
fledge production facility in the GCC region Dubai. The production facility
will cater to the GCC and other international markets.
FIXED ASSETS:
· Land
· Buildings
· Factory building
· Plant and equipment
· Factory equipments
· Other plant and equipment
· Furniture and fixtures
· Motor vehicles
· Office equipment
· Computer equipments
· Other 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.61.78 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.