MIRA INFORM REPORT
|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SALVI CHEMICAL INDUSTRIES LIMITED (w.e.f. 21.09.2006) |
|
|
|
|
Formerly Known
As : |
SALVI CHEMICALS INDUSTRIES LIMITED |
|
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Registered
Office : |
214, Blue Rose Industrial Estate, Western Express Highway, Borivali
(East), Mumbai – 400 066, Maharashtra |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
10.10.2005 |
|
|
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Com. Reg. No.: |
11-156633 |
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Capital
Investment / Paid-up Capital : |
Rs.85.151 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U24230MH2005PLC156633 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS53069C |
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PAN No.: [Permanent Account No.] |
AAKCS0142E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Chemical and Pharmaceuticals. |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1066000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exits |
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|
Comments : |
Subject is an established company having moderate track record. The rating takes in to consideration moderate financial risk profile
and working capital intensive operation. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some
caution. |
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating B |
|
Rating Explanation |
Risk prone credit quality and high risk of
default. |
|
Date |
06 September, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
06 September, 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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-28701438)
LOCATIONS
|
Registered Office : |
214, Blue Rose Industrial Estate, Western Express Highway, Borivali
(East), Mumbai – 400 066, Maharashtra, India |
|
Tel. No.: |
91-22-28701438 |
|
Fax No.: |
91-22-28703656 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
107-108, Western Edge II, Western Express Highway, Borivali (East),
Mumbai – 400066, Maharashtra, India |
|
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|
Factory 1 : |
E -93/94, MIDC Tarapur, Boisar, Maharashtra, India |
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Factory 2 : |
E -90, MIDC Tarapur, Boisar, Maharashtra, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Kantilal Narandas Salvi |
|
Designation : |
Whole-time Director |
|
Address : |
B 108, Ashoka Tower, Kulupwadi Road, Borivali
(East), Mumbai – 400 066, Maharashtra, India |
|
Date of Birth/Age : |
11.03.1945 |
|
Qualification : |
B. Sc |
|
PAN No.: |
ANWPS3988A |
|
Date of Appointment : |
01.08.2011 |
|
DIN No: |
00535466 |
|
|
|
|
Name : |
Mr. Nirav Kantilal Salvi |
|
Designation : |
Director |
|
Address : |
B 108, Ashoka Tower, Kulupwadi Road,
Borivali (East), Mumbai – 400 066, Maharashtra, India |
|
Date of Birth/Age : |
13.03.1974 |
|
Qualification : |
B. Sc |
|
PAN No.: |
AAEPS6099R |
|
Date of Appointment : |
10.10.2005 |
|
DIN No: |
00535510 |
|
|
|
|
Name : |
Mr. Kaushal Kantilal Salvi |
|
Designation : |
Whole Time Director |
|
Address : |
B 108, Ashoka Tower, Kulupwadi Road,
Borivali (East), Mumbai – 400 066, Maharashtra, India |
|
Date of Birth/ Age: |
01.05.1979 |
|
Qualification : |
B. Com |
|
PAN No.: |
ALUPS3213L |
|
Date of Appointment : |
01.02.2011 |
|
DIN No: |
00535546 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Kantilal. N. Salvi |
11100 |
|
Nirav Salvi |
11500 |
|
Kaushal K. Salvi |
10500 |
|
Avni N Salvi |
5300 |
|
Shweta K. Salvi |
5550 |
|
Amita K. Salvi |
5550 |
|
Kantilal N Salvi (HUF) |
5550 |
|
Kantilal N. Salvi, Jointly Nirav K Salvi, Jointly Kaushal K Salvi |
2706750 |
|
Kantilal N Salvi (HUF),Nirav K. Salvi |
168125 |
|
Nirav K. Salvi, Jointly Avni N Salvi |
2435960 |
|
Kaushal K. Salvi, Jointly Shweta K. Salvi |
1441650 |
|
Kaushal K. Salvi (H.U.F), Jointly Shweta K. Salvi |
371000 |
|
Amita K. Salvi, Jointly Nirav K. Salvi |
78350 |
|
Avni N Salvi, Jointly Nirav K. Salvi |
189450 |
|
Shweta K. Salvi, Jointly Kaushal K. Salvi |
85450 |
|
Nirav K. Salvi (H.U.F) |
694000 |
|
Kantilal Salvi Jointly Avni Salvi |
70150 |
|
Amita K. Salvi Jointly Avni salvi |
99600 |
|
Kantilal N Salvi (HUF), Jointly Nirav K Salvi (HUF) |
119325 |
|
Milin Trivedi |
250 |
|
|
|
|
Total |
8515110 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Chemical and Pharmaceuticals. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· The Saraswat Co-op Bank Limited, RASEC Borivali (West) Branch, Shobhana Apartment, Chandavarkar Road, Borivali (West), Mumbai – 400 092, Maharashtra, India ·
The Saraswat Co-operative Bank Limited, SME Vile
Parle Branch, Bholanath Cooperative Housing Society, Subhash Road, Vile Parle
(East), Mumbai – 400 057, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Patel and Krup Chartered Accountant |
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Address : |
6, Cresent Chambers, 1st Floor, Tamrind Lane, Fort, Mumbai
– 400023, |
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Tel. No. : |
91-22-22670815 |
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PAN
No. : |
AAAPP8616R |
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Enterprise / Firm over
which controlling individual have significant influence : (As on 31.03.2011) |
Nutracare International |
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CAPITAL STRUCTURE
As on 31.03.2013
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 |
|
|
|
|
|
|
8515110 |
Equity Shares |
Rs.10/- each |
Rs.85.151 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 |
85.151 |
79.432 |
79.432 |
|
(b) Reserves & Surplus |
181.462 |
137.220 |
103.597 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
20.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
266.613 |
236.652 |
183.029 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
108.744 |
106.567 |
63.011 |
|
(b) Deferred tax liabilities (Net) |
16.210 |
12.001 |
10.364 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.544 |
2.124 |
0.000 |
|
Total
Non-current Liabilities (3) |
126.498 |
120.692 |
73.375 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
104.890 |
112.007 |
96.465 |
|
(b) Trade payables |
201.803 |
246.463 |
291.199 |
|
(c) Other current liabilities |
48.939 |
38.261 |
22.424 |
|
(d) Short-term provisions |
26.845 |
31.485 |
33.971 |
|
Total
Current Liabilities (4) |
382.477 |
428.216 |
444.059 |
|
|
|
|
|
|
TOTAL |
775.588 |
785.560 |
700.463 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
229.270 |
165.313 |
140.593 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
47.406 |
1.987 |
2.194 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.236 |
0.793 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
28.602 |
96.993 |
38.534 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
307.514 |
265.086 |
181.346 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
184.136 |
106.628 |
187.904 |
|
(c) Trade receivables |
234.140 |
373.918 |
267.016 |
|
(d) Cash and cash equivalents |
2.240 |
2.826 |
0.750 |
|
(e) Short-term loans and advances |
47.558 |
37.102 |
63.236 |
|
(f) Other current assets |
0.000 |
0.000 |
0.211 |
|
Total
Current Assets |
468.074 |
520.474 |
519.117 |
|
|
|
|
|
|
TOTAL |
775.588 |
785.560 |
700.463 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
953.478 |
927.366 |
646.695 |
|
|
|
Other Income |
30.357 |
4.438 |
23.587 |
|
|
|
TOTAL |
983.835 |
931.804 |
670.282 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
829.191 |
730.883 |
497.481 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(59.024) |
1.088 |
1.204 |
|
|
|
Employees benefits expense |
44.561 |
35.503 |
25.655 |
|
|
|
Other expenses |
72.927 |
73.299 |
67.018 |
|
|
|
TOTAL |
887.655 |
840.773 |
591.358 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
96.180 |
91.031 |
78.924 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
34.758 |
27.423 |
21.592 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
61.422 |
63.608 |
57.332 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.391 |
13.112 |
11.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
45.031 |
50.496 |
46.106 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.965 |
10.566 |
12.132 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
33.066 |
39.930 |
33.974 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.12 |
5.03 |
4.28 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.36 |
4.29 |
5.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.72 |
5.45 |
7.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.20 |
6.45 |
6.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.21 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.80 |
0.92 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.22 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
79.432 |
79.432 |
85.151 |
|
Reserves & Surplus |
103.597 |
137.220 |
181.462 |
|
Share Application money
pending allotment |
0.000 |
20.000 |
0.000 |
|
Net worth |
183.029 |
236.652 |
266.613 |
|
|
|
|
|
|
long-term borrowings |
63.011 |
106.567 |
108.744 |
|
Short term borrowings |
96.465 |
112.007 |
104.890 |
|
Total
borrowings |
159.476 |
218.574 |
213.634 |
|
Debt/Equity
ratio |
0.871 |
0.924 |
0.801 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
646.695 |
927.366 |
953.478 |
|
|
|
43.401 |
2.816 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
646.695 |
927.366 |
953.478 |
|
Profit |
33.974 |
39.930 |
33.066 |
|
|
5.25% |
4.31% |
3.47% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long-term debt |
35.262 |
23.347 |
NA |
|
|
|
|
|
|
Total |
35.262 |
23.347 |
NA |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No: CHSL/69/2013 Filing Date: 19.01.2013 Reg. No.: CHS/76/2013 Reg. Date: 01.2.2013 |
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Lodging No: EXAL/263/2012
Main Matter |
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Petitioner: M/S SINO OCEAN LIMITED
Respondent: M/S. SALVI CHEMICAL INDUSTRIES LIMITED Petn. Adv : HALAI AND CO (I1036) District: MUMBAI |
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Bench: SINGLE Status: Pre-Admission
Category: CHAMBER SUMMONS IN EXECUTION Last Date: 11.04.2014 Stage:
CHAMBER SUMMONS FOR HEARING (ORIGINAL
SIDE MATTERS) Last Coram: HON’BLE SHRI JUTICE ANOOP V. MOHTA |
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Act: Code of Civil Procedure 1908 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully convertible debentures |
43.000 |
0.000 |
|
Loans and advances from others |
14.190 |
14.050 |
|
Other loans and advances |
0.000 |
46.550 |
|
|
|
|
|
Total |
57.190 |
60.600 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10421204 |
30/03/2013 |
2,000,000.00 |
The Saraswat Co-op Bank Ltd |
RASEC Borivli West Branch,Shobhana Apartment, Chandavarkar Road,
Borivli West, Mumbai, Maharashtra |
B73608747 |
|
2 |
10376559 |
01/09/2012 |
10,000,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile
Parle East, Mumbai, Maharashtra |
B58141151 |
|
3 |
10328212 |
27/12/2011 |
29,400,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile
Parle East, Mumbai, Maharashtra |
B29505898 |
|
4 |
10221676 |
04/05/2010 |
2,000,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile
Parle East, Mumbai, Maharashtra |
A85846749 |
|
5 |
10221489 |
22/04/2010 |
3,000,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile
Parle East, Mumbai, Maharashtra |
A85623817 |
|
6 |
10211612 |
29/03/2010 |
11,500,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile
Parle East, Mumbai, Maharashtra |
A82899725 |
|
7 |
10192571 |
03/12/2009 |
3,500,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile
Parle East, Mumbai, Maharashtra |
A75471060 |
|
8 |
10130600 |
27/10/2008 |
15,000,000.00 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400 |
A51106078 |
|
9 |
10113694 |
10/07/2008 |
9,500,000.00 |
The Saraswat Co-op Bank Ltd |
Vile Parle Branch, Vile Parle (East), Mumbai, Maha |
A41741265 |
|
10 |
10082737 |
15/01/2013 * |
494,404,000.00 |
The Saraswat Cooperative Bank Ltd(Lead Bankers) |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile
Parle East, Mumbai, Maharashtra |
B67596627 |
|
11 |
10062903 |
06/08/2007 |
2,250,000.00 |
The Saraswat Co-operative Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A20829578 |
|
12 |
10060274 |
26/07/2007 |
10,000,000.00 |
The Saraswat Co-operative Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A19329499 |
|
13 |
10036944 |
25/01/2007 |
1,445,000.00 |
The Saraswat Co-opBank Ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A10613206 |
|
14 |
10036936 |
25/01/2007 |
4,600,000.00 |
The Saraswat Co-opBank Ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A10611994 |
|
15 |
10029200 |
07/10/2008 * |
14,000,000.00 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A49135197 |
|
16 |
10029623 |
07/10/2008 * |
35,000,000.00 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A49135585 |
|
17 |
10029608 |
11/06/2012 * |
142,500,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile
Parle East, Mumbai, Maharashtra |
B42758383 |
|
18 |
10031291 |
28/11/2006 |
224,578.81 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A07835135 |
|
19 |
10031290 |
28/11/2006 |
292,591.45 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A07835341 |
|
20 |
10029764 |
28/11/2006 |
347,610.36 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A07835556 |
|
21 |
10029199 |
28/11/2006 |
500,000.00 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A07834500 |
|
22 |
10029812 |
28/11/2006 |
500,000.00 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A07834633 |
|
23 |
10031171 |
28/11/2006 |
17,300,000.00 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, INDIA |
A07982051 |
|
24 |
10029991 |
28/11/2006 |
25,000,000.00 |
The Saraswat Co-op Bank ltd |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, INDIA |
A07834815 |
* Date of charge modification
OPERATIONS
During the year, the
Sales Turnover has been registered at Rs. 953.478 millions and Net Profit has
been registered at Rs. 33.066 millions. The value of Export turnover for the
year was Rs. 406.530 millions.
ENTERPRISE RESOURCE
PLANNING (ERP)
The Company has
successfully implemented advanced management technology viz., ERP. The
implementation process is satisfactorily completed and the company has come out
with operating data and Balance Sheet generated from ERP. By implementing ERP
better management technique would be utilised for processing voluminous data in
lesser time to enable the Company for quick decisions.
SOME IMPORTANT
ACHIEVEMENTS
Remarkable increase
in the Export Turnover of the Company to Rs. 4065.30 Lacs from Rs. 225.522
millions in the previous year.
The wholly owned
subsidiary of the Company i.e. Anytech international FZE in Sharjah, UAE has
performed well.
The Company is
holding ISO 9001, 22000, FEMI- QS, FSSC-22000 Certificates.
The Company has
purchased new office premises at Borivali East and planning to shift the
existing office to new premises during 2013-2014.
The Company has
completed erection of Plant and Machinery at Unit E-90 and has commenced
production in the month of April, 2013.
FIXED ASSETS
- Land
- Plant and
Machinery
- Furniture and
Fixtures
- Laboratory
Equipment
- Computer
- Motor Cycle
- Scooter
- Air
Conditioner
- Tata 407
- Cycle
- Office
Equipment
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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
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Information
Gathered by : |
NYA |
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
YES |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
|
|
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
|
35 |
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 |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.