MIRA
INFORM REPORT
|
Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHEMBOND
CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.EL-71, TTC Industrial Area, M.I.D.C. Electronic,
Mahape, Thane – 400 710, |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
22.03.1975 |
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Com. Reg. No.: |
11-018235 |
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Capital
Investment / Paid-up Capital : |
Rs.66.604
millions |
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|
|
|
CIN No.: [Company Identification
No.] |
L24100MH1975PLC018235 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10906A |
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|
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PAN No.: [Permanent Account No.] |
AAACC5467A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is
engaged in the manufacture and sale of specialty chemicals primarily for
construction and civil engineering industries. |
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|
|
No. of Employees
: |
307
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1900000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of the Chembond Group. It is an established company having satisfactory track record. Financial position of the company seems to be decent. The rating takes into consideration healthy financial risk profile, an
established customer base and widespread distribution network. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealing 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of the
global e-commerce giant Amazon. The company raised $ 210 million from Russian
Investment firm DST Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: A- |
|
Rating Explanation |
Have adequate degree of safety and carry moderate credit risk. |
|
Date |
December 03, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A2+ |
|
Rating Explanation |
Have strong degree safety and carry low credit risk. |
|
Date |
December 03, 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
31-03-2014.
LOCATIONS
|
Registered
Office/ Corporate Office/ R&D Centre : |
Plot No.EL-71, TTC Industrial Area, M.I.D.C. Electronic,
Mahape, Thane – 400 710, Maharashtra, India |
|
Tel. No.: |
91-22-39213000/ 3001/ 3002 (Board Line)/
27618799/ 66143000 |
|
Fax No.: |
91-22-39213100/ 27681294 |
|
E-Mail : |
dipti.samant@chembondindia.com
|
|
Website : |
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Factory 1 : |
Plot No.E-6/3 and 6/4, MIDC Estate, Tarapur, Boisar,
District Thane – 401 506, Maharashtra, India |
|
Tel. No.: |
91-2522-2572615 |
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Fax No.: |
91-2522-2571172 |
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Factory 2 : |
Plot T/129, MIDC Tarapur, District Thane, Maharashtra, India |
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Factory 3 : |
Khasra No.177/2, Village Theda, PO Lodhimajra, Tehsil Nalagarh, Baddi District, Solan – 174 101, Himachal Pradesh, India. |
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Factory 4 : |
Near Ramuna Golai, Opposite Gurudwara / Gati Courier Office, Beside
Rajesh Rajesh Chemicals, Balasore – 756 019, Orissa, India |
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Factory 5 : |
S.F. No.5/5, 5/6B, Avadi Road, Sennerkuppam, Poonamallee, Chennai – 600 056, India |
|
Tel. No.: |
91-44-26801331/ 64552655 |
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Factory 6 : |
404/B/P-1, Village Dudhawada, ECP Road, Taluka Padra, District Vadodara – 391 450, Gujarat, India |
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Tel. No.: |
91-2662-273778/ 273181 |
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Fax No.: |
91-2662-273781 |
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Branch/ Sales Office : |
Located at: · Mumbai · Ahmedabad · Noida · Kolkata ·
Chennai |
DIRECTORS
As on 31.03.2014
|
Name : |
Dr. Vinod D. Shah |
|
Designation : |
Chairman
Emeritus |
|
Qualification : |
Doctorate in Chemical Engineering |
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|
|
|
Name : |
Mr. Ashwin R. Nagarwadia |
|
Designation : |
Director |
|
Date of
Birth/Age : |
76 Years |
|
Qualification : |
B.E. Mechanical |
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|
|
|
Name : |
Mr. Jawahar I. Mehta |
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Designation : |
Independent Director |
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|
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|
Name : |
Mr. Jayantilal S. Vasani |
|
Designation : |
Independent Director |
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|
|
|
Name : |
Mr. Mahendra K. Ghelani |
|
Designation : |
Independent Director |
|
Date of
Birth/Age : |
68 Years |
|
Qualification : |
Advocate Solicitor and Notary |
|
|
|
|
Name : |
Mr. Nirmal V. Shah |
|
Designation : |
Vice Chairman and Managing Director |
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|
Name : |
Mr. O.P. Malhotra |
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Designation : |
Independent Director |
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|
|
|
Name : |
Mr. Perviz H. Dastur |
|
Designation : |
Director |
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|
Name : |
Mr. Sameer V. Shah |
|
Designation : |
Chairman and Managing Director |
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|
Name : |
Mr. Sushil U. Lakhani |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Omkar Mahamukar |
|
Designation : |
Company Secretary |
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|
|
|
Name : |
Mr.
Virendra Bhatt |
|
Designation : |
Whole Time Practicing Company Secretary |
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|
Name : |
Mr. Jinesh Maniyar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category
of Shareholders |
No. of Shares |
Percentage of holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3803030 |
57.10 |
|
|
762815 |
11.45 |
|
|
4565845 |
68.55 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
4565845 |
68.55 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
23800 |
0.36 |
|
|
23800 |
0.36 |
|
|
|
|
|
|
555402 |
8.34 |
|
|
|
|
|
|
537615 |
8.07 |
|
|
953550 |
14.32 |
|
|
24200 |
0.36 |
|
|
24200 |
0.36 |
|
|
2070767 |
31.09 |
|
Total
Public shareholding (B) |
2094567 |
31.45 |
|
Total
(A)+(B) |
6660412 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
6660412 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs.0.100 million
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the manufacture and sale of specialty chemicals primarily for
construction and civil engineering industries. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2014):
|
Particulars |
Unit |
Actual
Production |
|
Liquid |
KL/MT |
15052 |
|
Powder |
KL/MT |
3416 |
GENERAL INFORMATION
|
No. of Employees : |
307
(Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
Notes: LONG
TERM BORROWINGS a Term Loan from
Banks are secured by Equitable Mortgage on movable & immovable fixed
assets & hypothecation of Plant & Machinery of the company .The maturity profile of these
loans are as follows:
(Rs. in
millions)
SHORT
TERM BORROWINGS a. Over Draft Facility are
secured against Fixed Deposit of Subsidiary Company Protochem Industries
Private Limited. b.
Working Capital loan is secured by charge on current asset, Mortgage of
Tangible Immovable Properties and charge on other fixed assets. |
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|
|
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Banking
Relations : |
--- |
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Statutory Auditors : |
|
|
Name : |
Kastury and Talati Chartered Accountants, |
|
Address : |
Mumbai, |
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|
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|
Cost
Auditor : |
R.S.
Raghavan |
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Joint Ventures and Subsidiaries: |
·
Chembond Ashland Water Technologies Limited ·
Henkal Chembond Surface Technologies Limited ·
Chembond Clean Water Technologies Limited ·
Chembond Inver Coatings Limited ·
Protochem Industries Private Limited |
|
|
|
|
Associates : |
·
Chembond Distribution Limited ·
Chembond Enzyme Company Limited ·
Chembond Bioengineering Company Limited (Subsidiary of Associate) |
|
|
|
|
Entities over which Key Management
personnel are able to exercise influence : |
·
CCL Optoelectronics Private Limited ·
Finor Piplaj Chemicals Limited ·
S and N Ventures Limited ·
GTK Intermediates Private Limited ·
Bentec Organo Clays Private Limited ·
Visan Holdings and Financial Services Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6660412 |
Equity Shares |
Rs.10/- each |
Rs.66.604
million |
|
|
|
|
|
a
Shares issued for consideration other than cash and bonus shares issued:
Out
of the issued, subscribed and paid up share capital, during the last five years
i 1,90,206 (1,90,206) Equity Shares of `10 each
have been issued for consideration other than cash
ii 31,80,206 (31,80,206) Equity Shares of
`10 each have been issued as fully paid Bonus Shares by way of
Capitalisation of Reserves & Surplus.
b
Details of Shareholders holding more than 5% Shares
|
Name of the
Shareholder |
As at 31.03.2014 |
|
|
No
of Shares |
%
held |
|
|
Dr. Vinod D. Shah |
923771 |
13.87% |
|
Padma V. Shah |
747557 |
11.22% |
|
Visan Holding and Financial Services Private Limited |
612518 |
9.20% |
|
Ashwin R. Nagarwadia |
385392 |
5.79% |
|
Ajay Sheth |
388735 |
5.84% |
|
Quest Investment Advisors Private Limited |
364433 |
5.47% |
c
Terms/Rights attached to Equity Shares
The
Company has only one class of Equity Shares having a par value of ` 10 per share.
Each holder of equity shares is entitled to one vote per share. The Company
declares and pays dividends in Indian Rupees. The dividend proposed by the
Board of Directors is subject to approval of the shareholders in the ensuing
Annual General Meeting.
In
the event of liquidation of the Company, the holders of Equity Shares will be
entitled to receive remaining assets of the Company, after distribution of all
preferential amounts. The distribution will be in proportion to the number of
equity shares held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
66.604 |
66.604 |
63.604 |
|
(b) Reserves & Surplus |
422.957 |
403.086 |
334.102 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
13.798 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
489.561 |
469.690 |
411.504 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
93.704 |
87.136 |
84.446 |
|
(b) Deferred tax liabilities (Net) |
27.762 |
30.740 |
21.985 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.185 |
8.102 |
6.142 |
|
Total Non-current Liabilities (3) |
129.651 |
125.978 |
112.573 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
131.097 |
125.798 |
45.735 |
|
(b) Trade payables |
435.310 |
323.041 |
203.291 |
|
(c) Other current
liabilities |
83.723 |
60.723 |
59.492 |
|
(d) Short-term provisions |
21.796 |
18.982 |
15.947 |
|
Total Current Liabilities (4) |
671.926 |
528.544 |
324.465 |
|
|
|
|
|
|
TOTAL |
1291.138 |
1124.212 |
781.050 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
374.363 |
331.526 |
205.908 |
|
(ii) Intangible Assets |
7.700 |
8.820 |
5.516 |
|
(iii) Capital
work-in-progress |
15.033 |
31.783 |
2.66 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
138.445 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.743 |
37.542 |
5.924 |
|
(e) Other Non-current assets |
200.993 |
149.687 |
0.000 |
|
Total Non-Current Assets |
613.832 |
559.358 |
358.453 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.059 |
0.055 |
0.048 |
|
(b) Inventories |
258.257 |
247.490 |
177.998 |
|
(c) Trade receivables |
379.071 |
283.375 |
229.13 |
|
(d) Cash and cash
equivalents |
17.731 |
11.326 |
6.473 |
|
(e) Short-term loans and
advances |
22.188 |
22.608 |
8.948 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
677.306 |
564.854 |
422.597 |
|
|
|
|
|
|
TOTAL |
1291.138 |
1124.212 |
781.050 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
2013.173 |
1744.682 |
1519.721 |
|
|
|
Other Income |
51.261 |
66.751 |
57.043 |
|
|
|
TOTAL (A) |
2064.434 |
1811.433 |
1576.764 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
1598.541 |
1385.812 |
1147.159 |
|
|
|
Purchase of Stock-in- trade |
72.510 |
84.466 |
117.114 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(11.074) |
(11.904) |
(3.127) |
|
|
|
Employees benefits expense |
154.992 |
127.832 |
101.081 |
|
|
|
Other expenses |
158.752 |
135.915 |
96.8 |
|
|
|
TOTAL (B) |
1973.721 |
1722.121 |
1459.027 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
90.713 |
89.312 |
117.737 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
30.420 |
29.170 |
23.781 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
60.293 |
60.142 |
93.956 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.213 |
18.195 |
13.853 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
41.080 |
41.947 |
80.103 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.837 |
7.171 |
13.680 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
39.243 |
34.776 |
66.423 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
278.315 |
231.432 |
|
|
|
|
|
|
|
|
|
Add |
Transfer
from Revaluation Reserve |
0.189 |
0.189 |
0.189 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserves |
4.000 |
3.995 |
7.000 |
|
|
|
Set off of Dividend Tax in respect of
dividend from subsidiary company |
(3.396) |
(3.226) |
(4.643) |
|
|
|
Proposed Dividend |
19.981 |
18.982 |
14.947 |
|
|
|
Tax on Proposed Dividend |
3.396 |
3.226 |
2.425 |
|
|
BALANCE CARRIED
TO THE B/S |
305.754 |
290.303 |
278.315 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB basis |
45.685 |
45.582 |
13.626 |
|
|
|
Other Earnings |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
45.685 |
45.582 |
13.626 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Finished Goods |
299.955 |
266.632 |
247.508 |
|
|
TOTAL IMPORTS |
299.955 |
266.632 |
247.508 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
-Basic |
5.89 |
5.46 |
10.44 |
|
|
|
-Diluted |
5.72 |
5.44 |
10.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.90 |
1.92 |
4.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.04 |
2.40 |
5.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.22 |
3.84 |
12.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.09 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.46 |
0.45 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
1.07 |
1.30 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
63.604 |
66.604 |
66.604 |
|
Reserves & Surplus |
334.102 |
403.086 |
422.957 |
|
Money received against share warrants |
13.798 |
0.000 |
0.000 |
|
Net
worth |
397.706 |
469.690 |
489.561 |
|
|
|
|
|
|
long-term borrowings |
84.446 |
87.136 |
93.704 |
|
Short term borrowings |
45.735 |
125.798 |
131.097 |
|
Total
borrowings |
130.181 |
212.934 |
224.801 |
|
Debt/Equity
ratio |
0.327 |
0.453 |
0.459 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from Operation |
1519.721 |
1744.682 |
2013.173 |
|
|
|
14.803 |
15.389 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from Operation |
1519.721 |
1744.682 |
2013.173 |
|
Profit |
66.423 |
34.776 |
39.243 |
|
|
4.37% |
1.99% |
1.95% |
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 |
No |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
UNSECURED
LOAN (Rs.
In Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM BORROWING |
|
|
|
Loans from Related Parties |
75.684 |
58.366 |
|
Loans from Others |
2.020 |
4.770 |
|
|
|
|
|
SHORT TERM BORROWING |
|
|
|
Working Capital Loan |
0.000 |
20.000 |
|
Buyers Credit Loan |
22.912 |
49.585 |
|
Total |
100.616 |
132.721 |
Notes:
LONG
TERM BORROWINGS
Maturity Profile of Unsecured Loans
from related parties and others is as follows:
(Rs. in millions)
|
|
1-2 years |
2-3 years |
3-4 years |
|
Loans
from Related Parties |
38.413 |
37.271 |
NIL |
|
Loans
from Others |
NIL |
2.020 |
NIL |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10343562 |
01/08/2013 * |
110,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M |
B83152256 |
|
2 |
10319447 |
02/11/2011 |
45,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B25957564 |
|
3 |
10172907 |
14/07/2009 * |
30,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A68978675 |
|
4 |
10149256 |
14/07/2009 * |
65,250,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A68802123 |
|
5 |
10075425 |
08/10/2007 |
9,250,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A26522847 |
|
6 |
10058441 |
15/06/2007 |
20,250,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A17957614 |
|
7 |
90145732 |
14/07/2009 * |
120,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A68802263 |
|
8 |
90141731 |
27/07/1992 |
1,500,000.00 |
MAHARASHTRA STATE FINANCIAL CORPORATION |
NEW EXCELSIOR BLDG; 5TH; 7TH; 8TH & 9TH FLOORS,
A |
- |
|
9 |
90141528 |
14/03/1989 * |
50,000.00 |
BANK OF INDIA |
WORLI NAKA BRANCH, PANKAJ MANSION; OPP. PODAR HOS |
- |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
· Leasehold Land
· Freehold Land
· Buildings
· Equipment and Machinery
· Computers
· Furniture and Fixtures
· Motor Cars
· Electric Fittings and Installations
Intangible Assets
· Computer 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 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.60.10 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ARI |
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 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
/NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.