1. Summary Information
|
|
|
Country |
|
|
Company Name |
BHABANI PIGMENTS PRIVATE LIMITED |
Principal Name 1 |
Mr. Santosh Kumar Kanoi |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Amrit Lal Garg |
|
|
|
Registration # |
55-55513 |
|
Street Address |
A-30, Block B-1, 3rd Floor, Mohan Co Operative Industrial
Estate, Mathura Road, New Delhi-110044 |
||
|
Established Date |
04.10.1993 |
SIC Code |
-- |
|
Telephone# |
91-11-41676738 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-41676739 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Refined Copper Phthalocyanine |
|
|
# of employees |
Not Available |
Product Name 2 |
Dehydro Copper Complex |
|
Paid up capital |
Rs.14,250,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 67.60%, Directors or relatives of Directors 32.40% |
Banking |
ICICI Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
21 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
280,517,000 |
Current Liabilities |
77,982,000 |
|
Inventories |
75,317,000 |
Long-term Liabilities |
104,212,000 |
|
Fixed Assets |
365,676,000 |
Other Liabilities |
20,708,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
202,902,000 |
|
Invest& other Assets |
146,490,000 |
Retained Earnings |
650,848,000 |
|
|
|
Net Worth |
665,098,000 |
|
Total Assets |
868,000,000 |
Total Liab. & Equity |
868,000,000 |
|
Total Assets (Previous Year) |
759,079,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Total Income |
121,849,00 |
Net Profit |
134,779,000 |
|
Total Income (Previous yr) |
962,484,000 |
Net Profit(Prev.yr) |
151,511,000 |
MIRA
INFORM REPORT
|
Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
BHABANI PIGMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-30, Block B-1, 3rd Floor, Mohan Co-Operative Industrial Estate,
Mathura Road, New Delhi – 110044 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.10.1993 |
|
|
|
|
Com. Reg. No.: |
55-55513 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.250
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1993PTC055513 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB0192R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Refined Copper Phthalocyanine, Dehydro Copper Complex
of Phthalocyanine. |
|
|
|
|
No. of Employees
: |
Not Available |
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 260000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Rating reflects healthy financial risk profile marked by sound
liquidity position. Trade relations are reported to be fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
11.04.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
11.04.2014 |
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.
INFORMATION DECLINED
Management Non Cooperative (91-11-41676738)
LOCATIONS
|
Registered Office : |
A-30, Block B-1, 3rd Floor, Mohan Co-Operative Industrial
Estate, Mathura Road, New Delhi – 110044, India |
|
Tel. No.: |
91-11-41676738 |
|
Fax No.: |
91-11-41676739 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
7, E Bock 2nd Floor, Local Shopping Centre, Masjid Moth
Greater Kailash II, New Delhi – 110 048, India |
|
Tel. No.: |
91-11-26217775 |
|
|
|
|
Factory : |
Sonepat Rohtak Road, Kharkhoda-124402, Sonepat, Haryana, India |
|
Tel No.: |
91-130-2802161 |
|
|
|
|
Windmill : |
Also Located At:
·
Maharashtra
·
Rajasthan ·
Tamilnadu |
DIRECTORS
As on 18.06.2013
|
Name : |
Mr. Anant Kanoi |
|
Designation : |
Director |
|
Address : |
D-1103, New Friends Colony, New Delhi – 110025, India |
|
Date of Birth/Age : |
22.03.1979 |
|
Date of Appointment : |
15.03.2002 |
|
DIN No.: |
00150667 |
|
PAN No.: |
AGDPK5592J |
|
|
|
|
Name : |
Mr. Amrit Lal Garg |
|
Designation : |
Director |
|
Address : |
House No. 417, Sector -28/, Faridabad-121 008, |
|
Date of Birth/Age : |
25.04.1952 |
|
Date of Appointment : |
04.10.1993 |
|
DIN No.: |
00152990 |
|
PAN No.: |
AAIPG0736D |
|
|
|
|
Name : |
Mr. Santosh Kumar Kanoi |
|
Designation : |
Director |
|
Address : |
D-1103, New Friends Colony, New Delhi – 110025, India |
|
Date of Birth/Age : |
07.01.1952 |
|
Date of Appointment : |
15.06.2011 |
|
DIN No.: |
00166517 |
|
PAN No.: |
AFZPK5425K |
|
|
|
|
Name : |
Mr. Nitender Kumar Gupta |
|
Designation : |
Director |
|
Address : |
Sector–II, E, Flat No. 12C, Kalpana, Vaishali Ghaziabad-251010, Uttar
Pradesh, India |
|
Date of Birth/Age : |
20.11.1954 |
|
Date of Appointment : |
04.10.1993 |
|
DIN No.: |
00538578 |
|
PAN No.: |
AEWPG4289F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Amrit Lal Garg |
|
121350 |
|
Nitender Kumar Gupta |
|
150 |
|
Binaguri Tea Co. Private Limited, India |
|
269250 |
|
Kanoi Estates Private Limited, India |
|
53700 |
|
Ashish Garg |
|
30000 |
|
Usha Rani Garg |
|
60900 |
|
Nirmal Kumar Kanoi |
|
19200 |
|
Rapid Properties Private Limited, India |
|
138850 |
|
Indo Leather Private Limited, India |
|
133400 |
|
Golden Pigments Private Limited, India |
|
139250 |
|
Mohini Devi Kanoi |
|
14550 |
|
Chandra Prakash Kanoi |
|
19050 |
|
Santosh Kumar Kanoi |
|
34350 |
|
Chandra Prakash Kanoi (HUF) |
|
14250 |
|
Sri Bhabani Investments Private Limited, India |
|
183000 |
|
Usha Kanoi |
|
14550 |
|
Bina Kanoi |
|
14550 |
|
Satyam Kanoi |
|
36600 |
|
Shivam Kanoi |
|
37350 |
|
Anant Kanoi |
|
29850 |
|
Vedant Kanoi |
|
14850 |
|
Dharower Financial Services Limited, India |
|
46000 |
|
Total |
|
1425000 |
As on 18.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
67.60 |
|
Directors or relatives of Directors |
32.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Refined Copper Phthalocyanine, Dehydro Copper Complex
of Phthalocyanine. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· State Bank of India, MID Corporate Loan, Administration Unit, 2nd Floor, Chandni Chowk, New Delhi -110006, India · State Bank of India, Commercial Branch, N-3, South Extension Part I, New Delhi-110049, India · ICICI Bank Limited · ING Vysya Bank Limited ·
HDFC Bank Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Maheshwari Rajiv and Company Chartered Accountants |
|
Address : |
37, First Floor, Defense Enclave, New Delhi-110092, India |
|
PAN No.: |
AAFFM5141F |
CAPITAL STRUCTURE
As on 18.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1425000 |
Equity Shares |
Rs.10/- each
|
Rs.14.250
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
14.250 |
14.250 |
|
(b) Reserves & Surplus |
|
650.848 |
517.216 |
|
(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) |
|
665.098 |
531.466 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
104.212 |
127.031 |
|
(b) Deferred tax liabilities (Net) |
|
16.021 |
16.542 |
|
(c) Other long term liabilities |
|
0.463 |
7.183 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
120.696 |
150.756 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
16.278 |
|
(b) Trade payables |
|
64.358 |
49.370 |
|
(c) Other current
liabilities |
|
13.161 |
4.891 |
|
(d) Short-term provisions |
|
4.687 |
6.318 |
|
Total Current Liabilities (4) |
|
82.206 |
76.857 |
|
|
|
|
|
|
TOTAL |
|
868.000 |
759.079 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
365.676 |
509.807 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
4.203 |
1.256 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
142.287 |
10.035 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
50.530 |
20.963 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
562.696 |
542.061 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
75.317 |
57.069 |
|
(c) Trade receivables |
|
191.375 |
144.426 |
|
(d) Cash and cash
equivalents |
|
12.645 |
9.856 |
|
(e) Short-term loans and
advances |
|
23.118 |
3.766 |
|
(f) Other current assets |
|
2.849 |
1.901 |
|
Total Current Assets |
|
305.304 |
217.018 |
|
|
|
|
|
|
TOTAL |
|
868.000 |
759.079 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
14.250 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
371.525 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
385.775 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
118.622 |
|
|
2] Unsecured Loans |
|
|
39.725 |
|
|
TOTAL BORROWING |
|
|
158.347 |
|
|
DEFERRED TAX LIABILITIES |
|
|
10.994 |
|
|
CAPITAL STATE SUBSIDY |
|
|
1.500 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
556.616 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
357.544 |
|
|
Capital work-in-progress |
|
|
28.653 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
9.889 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
51.617
|
|
|
Sundry Debtors |
|
|
141.316
|
|
|
Cash & Bank Balances |
|
|
1.773
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
54.299
|
|
Total
Current Assets |
|
|
249.005
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
18.147
|
|
|
Other Current Liabilities |
|
|
15.890
|
|
|
Provisions |
|
|
54.438
|
|
Total
Current Liabilities |
|
|
88.475
|
|
|
Net Current Assets |
|
|
160.530
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
556.616 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
|
|
809.414 |
|
|
|
|
|
|
24.080 |
|
|
|
Other Income |
|
|
10.275 |
|
|
|
TOTAL (A) |
121.849 |
962.484 |
843.769 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
579.905 |
|
|
|
Payments to and provision for employees |
|
|
7.067 |
|
|
|
Administrative, selling and other expenses |
|
|
37.750 |
|
|
|
Plant and machinery written off |
|
|
0.153 |
|
|
|
Increase / decrease in stock |
|
|
2.412 |
|
|
|
TOTAL (B) |
(133.426) |
711.799 |
627.287 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
255.275 |
250.685 |
216.482 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.226 |
17.640 |
14.462 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
236.049 |
233.045 |
202.020 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
52.412 |
44.418 |
33.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
183.637 |
188.627 |
168.270 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
48.858 |
37.116 |
50.270 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
134.779 |
151.511 |
118.000 |
|
|
|
|
|
|
|
|
|
Add |
Reversal of
Deferred Tax |
0.000 |
0.000 |
0.373 |
|
|
|
|
|
|
|
|
|
Add |
Prior Year Income
Tax Adjustment |
0.521 |
(5.664) |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.466 |
0.275 |
0.569 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
133.500 |
144.000 |
114.500 |
|
|
|
Proposed Dividend |
1.425 |
1.425 |
3.562 |
|
|
|
Tax on Corporate Dividend |
0.242 |
0.231 |
0.605 |
|
|
BALANCE CARRIED
TO THE B/S |
0.599 |
0.466 |
0.275 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
NA |
2.040 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
NA |
NA |
303.903 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
94.58 |
106.32 |
82.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
110.61 |
15.74 |
13.98
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
20.19
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.45 |
25.22 |
27.74
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.35 |
0.44
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.16 |
0.27 |
0.67
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.71 |
2.82 |
2.81
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
14.250 |
14.250 |
|
Reserves & Surplus |
|
517.216 |
650.848 |
|
Net
worth |
|
531.466 |
665.098 |
|
|
|
|
|
|
long-term borrowings |
|
127.031 |
104.212 |
|
Short term borrowings |
|
16.278 |
0.000 |
|
Total
borrowings |
|
143.309 |
104.212 |
|
Debt/Equity
ratio |
|
0.270 |
0.157 |
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 |
843.769 |
962.484 |
121.849 |
|
|
|
14.070 |
(87.340) |
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 |
843.769 |
962.484 |
121.849 |
|
Profit |
118.000 |
151.511 |
134.779 |
|
|
13.98% |
15.74% |
110.61% |
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONAL REVIEW
The total combined production of Copper Phthalocyanine Crude (CPC) Blue and De-hydro Copper Complex of Phthalocyanine (DHCCP) Blue has been 4245 MT in FY 2012-13 as compared to 3463 MT in FY 2011-12.This amounts to a growth of more than 22% in output over the last financial year. This was made possible by de-bottlenecking plant operations and by further up gradation of the Effluent Treatment Plant. The Company has also started regular production of Pigment Blue 15.0 also known as Alpha Blue. Efforts to streamline production of Alpha Blue have been successful and they expect significant growth in production next year. The Gross Sales of the Company grew to Rs.1211.800 Millions in FY 2012-13 in comparison to Rs. 962.500 Millions in FY 2011-12. The Company was also successful in cornering a larger market share among its customers who are known to be the market leaders in the phthalocyanine industry. The Net Profit of the company stood at Rs. 135.200 Millions in FY 2012-13 in comparison to Rs.145.800 Millions in FY 2011-12. The decrease in the Profit was primarily due to higher income tax outflows and because of higher cost of imported raw materials owing to the weakening Indian Rupee. The Company is setting up a new multi-fuel-boiler which will be double its existing capacity for steam generation and will help in reducing the fuel costs in the future.
EXPORTS
The company managed to significantly increase supplies to export markets and the export revenues in FY 2012-2013 amounted to Rs.719.300 Millions as compared to Rs.534.600 Millions in the previous year. Exports accounted for 65% of the total revenues this year. The company was able to secure repeat orders from reputed customers regularly.
FUTURE OUTLOOK
The Phthalocyanine pigments space in India has been affected by regulatory bodies who want to be sure that the companies in this space are adhering to the norms and are operating with responsibility. Anticipating this change, the Company is making significant efforts in R&D so that its production is not affected and it can achieve high percentage of capacity utilization as it has done in the past. The global outlook for the industry continues to be stable but the weak sentiment prevailing in Europe and USA which are important markets for the phthalocyanine industry is likely to impact the overall business scenario.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Intercorporate borrowings |
34.591 |
31.285 |
|
Loans and advances from directors |
3.080 |
3.990 |
|
Loans and advances from others |
2.103 |
2.070 |
|
Total |
39.774 |
37.345 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10312866 |
25/08/2011 |
185,000,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL,GROUND FLOOR,SHOP NO. G1 TO G5,, I FLOOR, SHOP NO. 1001 TO 1007, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B23456528 |
|
2 |
10040074 |
26/10/2012 * |
133,400,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, N-3, SOUTH EXTENSION PART-I, NEW DELHI, DELHI - 110049, INDIA |
B64060478 |
|
3 |
80000077 |
13/03/2006 * |
9,500,000.00 |
STATE BANK OF INDIA |
NARAINA, NEW DELHI, DELHI - 110064, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Factory Land
· Wind Mill Land
· Office Land
· Office Building
· Buildings and Roads
· Buildings for Wind Mill
· Plant and Machinery
· Wind Mill Machinery
· Furniture and Fixtures and Equipments
· Vehicle
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 records 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.60.77 |
|
|
1 |
Rs.100.72 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.