MIRA
INFORM REPORT
|
Report Date : |
31.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GANDHAR OIL REFINERY ( |
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Formerly Known
As : |
SUNOCO INDUSTRIES PRIVATE LIMITED GANDHAR OIL REFINERY ( |
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Registered
Office : |
29/3, Sewree Premises Co-operative Society, Sewree (East), Mumbai –
400015, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
07.10.1992 |
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Com. Reg. No.: |
11-068905 |
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Capital
Investment / Paid-up Capital : |
Rs. 115.000 Millions |
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CIN No.: [Company Identification
No.] |
U23200MH1992PLC068905 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG09470G MUMG08489F |
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PAN No.: [Permanent Account No.] |
AAACG3996J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing
and Trading of Petroleum Products and Specialty Oils. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4800000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is sound and healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered of 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
12.06.2014 |
|
Rating Agency Name |
CRISIL |
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Rating |
Short term rating: “A3“ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
12.06.2014 |
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. (Tel. No.: 91-22-24113667 / 40635600 /
27412047)
LOCATIONS
|
Registered Office : |
29/3, Sewree Premises Co-operative Society, Sewree (East), Mumbai –
400015, Maharashtra, India |
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Tel. No.: |
91-22-24113667 / 40635600 / 27412047 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office: |
1001-1002 Unique Towers, S. V. Road, Goregaon (West), Mumbai - 400062,
Maharashtra, India |
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Tel. No.: |
91-22-40635600 |
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Fax No.: |
91-22-40635601 |
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E-Mail : |
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Factory 1 : |
T-10, MIDC Taloja Main Road, Taluka Panvel, District Raigad,
Maharashtra, India |
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Tel. No.: |
91-22-27412047/27401209 |
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Fax No.: |
91-22-27410408 |
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Factory 2 : |
Unit No.2, Plot No.2, Survey 678/1/3, Village Naroli,Near Naroli
Cheack Post, |
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Tel. No.: |
91-260-3293702 |
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Fax No.: |
91-260-2651120 |
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Branch Office : |
Located at: ·
Indore ·
Baroda ·
Haridwar ·
Pune |
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Depots: |
Located at: ·
Hyderabad ·
Baroda ·
Indore |
DIRECTORS
As on: 02.09.2013
|
Name : |
Mr. Devanshu Pravinbhai Desai |
|
Designation : |
Additional Director |
|
Address : |
42, Dharam Prem, Nehru Road, Vile Parle (East), Mumbai –
400057, Maharashtra, India |
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Date of Birth/Age : |
26.02.1963 |
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Qualification: |
Advocate |
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Date of Appointment : |
08.11.2010 |
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DIN No. : |
00493980 |
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Name : |
Mr. Rajiv Makhanlal Mattoo |
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Designation : |
Whole Time Director |
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Address : |
B-6, Vasundhara Tilak Road, Ghatkopar East, Mumbai – 400
077, Maharashtra, India |
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Date of Birth/Age : |
21.12.1958 |
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Qualification: |
B.com |
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Date of Appointment : |
08.11.2010 |
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PAN No.: |
AAJPM7942A |
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DIN No. : |
01062384 |
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Name : |
Mr. Ramesh Babulal Parekh |
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Designation : |
Whole Time Director |
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Address : |
A-802, Adarsh Classic, Adarsh Dugdhalay Road, Off. Marve Road,
Malad (West), Mumbai - 400 064, Maharashtra, India |
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Date of Birth/Age : |
12.06.1954 |
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Qualification: |
B.com |
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Date of Appointment : |
29.01.2009 |
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PAN No.: |
AAFPP6795C |
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DIN No. : |
01108443 |
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Name : |
Mr. Jitendra Babulal Parekh |
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Designation : |
Whole Time Director |
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Address : |
A-701, Adarsh Classic, Adarsh Dugdhalay Road, Off. Marve
Road, Malad (West), Mumbai - 400 064, Maharashtra, India |
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Date of Birth/Age : |
26.11.1952 |
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Qualification: |
B.com |
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Date of Appointment : |
01.04.2010 |
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PAN No.: |
AAGPP4510L |
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DIN No. : |
01108480 |
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Name : |
Mr. Aslesh Rameshkumar Parekh |
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Designation : |
Managing Director |
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Address : |
A – 802, Adarsh Classic, Adarsh Dugdhalay Road, Off Marve Road,
Malad (West), Mumbai – 400064, Maharashtra, India |
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Date of Birth/Age : |
01.03.1982 |
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Qualification : |
M.B.A |
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Date of Appointment : |
28.09.2010 |
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PAN No.: |
AGCPP5065E |
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DIN No. : |
02225795 |
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Name : |
Mr. Samir Ramesh Parekh |
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Designation : |
Managing Director |
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Address : |
A-802, Adarsh Classic, Adarsh Dugdhalay Road, Off. Marve
Road, Malad (West), Mumbai – 400064, Maharashtra, India |
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Date of Birth/Age : |
12.04.1980 |
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Qualification : |
B.Com |
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Date of Appointment : |
28.09.2010 |
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PAN No.: |
AAFPP6795C |
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DIN No. : |
02225839 |
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Name : |
Mr. Rajiv Jitendra Parekh |
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Designation : |
Whole-time director |
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Address : |
A-701, Adarsh Classic, Adarsh Dugdhalay Compound, Off. Marve
Road, Malad (West), Mumbai-400 064, Maharashtra, India |
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Date of Birth/Age : |
28.06.1976 |
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Date of Appointment : |
30.09.2011 |
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DIN No.: |
02868122 |
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Name : |
Mr. Kailash Babulal Parekh |
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Designation : |
Additional Director |
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Address : |
703/A, Adarsh Classic Off, Marve Road, Malad West, Mumbai
– 400 064, Maharashtra, India |
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Date of Birth/Age : |
15.04.1956 |
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Qualification: |
B.com |
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Date of Appointment : |
08.11.2010 |
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PAN No.: |
AALPP5496L |
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DIN No. : |
02868124 |
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Name : |
Mr. Sitaram Ramgopal Choudhary |
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Designation : |
Additional Director |
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Address : |
C/55, Benher Apartment, Chanoavarkar lane, Borivali
(West), Mumbai – 400092, Maharashtra, India |
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Date of Birth/Age : |
09.07.1974 |
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Qualification: |
B.com |
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Date of Appointment : |
08.11.2010 |
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DIN No. : |
02873497 |
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Name : |
Mr. Sarthak Behuria |
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Designation : |
Director |
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Address : |
K-99, Hauz Khas, New Delhi-110016, India |
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Date of Birth/Age : |
02.03.1952 |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
03290288 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 02.09.2013
|
Names of Shareholders |
No. of Shares |
|
Ramesh B. Parekh |
200000 |
|
Jitendra B. Parekh Jointly with Mrs. Gulab J Parekh |
186000 |
|
Kailash B Parekh Jointly with Mrs. Padmini Parekh |
186000 |
|
Gulab J. Parekh Jointly with Jitendra B Parekh |
30000 |
|
Pooja K. Parekh Jointly with Kailash B. Parekh |
26000 |
|
Kunal K. Parekh Jointly with Kailash B. Parekh |
28500 |
|
Samir R. Parekh Jointly with Ramesh B. Parekh |
16000 |
|
Aslesh R. Parekh Jointly with Ramesh B Parekh |
16000 |
|
Saurabh R. Parekh Jointly with Ramesh B Parekh |
16000 |
|
Diya Parekh Jointly with Ramesh Parekh |
26000 |
|
Ramesh Parekh Jointly with Sunita Parekh |
153000 |
|
Sunita Parekh Jointly with Ramesh Parekh |
54000 |
|
Rajiv Parekh Jointly with Jitendra B. Parekh |
20000 |
|
Padmini K Parekh Jointly with Kailash
B Parekh |
30000 |
|
Rajiv Jitendra Parekh Jointly with Alka Rajiv Parekh |
22500 |
|
Kunal Kailash Parekh Jointly with Padmini Kunal Parekh |
10000 |
|
Sameer Ramesh Parekh Jointly with Sharmishtha Sameer Parekh |
22500 |
|
Ashlesh Ramesh Parekh Jointly with Sunita Ramesh Parekh |
10000 |
|
Saurabh Ramesh Parekh Jointly with Sunitha Ramesh Parekh |
10000 |
|
Pooja Kailash Parekh Jointly with Padmini Kailash Parekh |
5000 |
|
Alka Rajiv Parekh Jointly with Rajiv Jitendra Parekh |
15000 |
|
Sharmishtha S Parekh Sameer Ramesh Parekh |
15000 |
|
Divya R. Parekh Jointly With Sunita Parekh |
5000 |
|
Ashlesh Parekh Jointly With Dimple Parekh |
12500 |
|
Saurabh Parekh Jointly with Nishitha Parekh |
15000 |
|
Dimple Parekh Jointly with Ashlesh Parekh |
10000 |
|
Nishitha Saurabh Parekh Jointly with Saurabh R. Parekh |
10000 |
|
|
|
|
Total |
1150000 |
Equity Share Break up (Percentage of Total Equity)
As on: 02.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
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|
|
|
|
Total
|
|
100.00 |
%20LIMITED%20-%20283975%2031-Aug-2014_files/image002.gif)
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Trading of Petroleum Products and Specialty Oils. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Petroleum Products |
KL |
167814 |
89823 641* |
|
Specialty Oils |
MT |
(93654) |
(93654) |
|
Petroleum Jelly |
-- |
8208 |
2275 408** |
* Excludes 71 531 KL (P Y NIL) produced for other on Job work Basis
** Includes 104 422 MT (P Y NIL) produced by others on job work basis
Installed capacity has been worked out on three shifts basis and as
certified by a managing Director and relied upon by the auditors without
verification being a technical matter
GENERAL INFORMATION
|
Customers : |
·
MRF ·
JK Tyre ·
CEAT ·
GRP ·
Good Year ·
Fenner ·
Marico ·
Dabur ·
Bajaj Cor. Limited ·
Emami ·
Mahindra ·
Sintex ·
Raymond ·
Panasonic |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
· Oriental Bank of Commerce Limited, Fort Branch, Jash Chambers, Sir P. M Road, Mumbai, Mumbai - 400001, Maharashtra, India · Bank of Baroda, Corporate Financial Service Fort Branch, 4th Floor, 10/12, Mumbai Samachar Marg, Fort, Mumbai - 400001, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
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Banking Relations
: |
-- |
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Auditors : |
|
|
Name : |
B. L. Sarda and Associates Chartered Accountants |
|
Address : |
61, Rajgir Chambers, 7th Floor, Opposite Old Custom House,
12/14, Shahid Bhagat Singh Road, Mumbai - 400 023, Maharashtra, India |
|
PAN No.: |
AAAFB1454H |
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Subsidiary : |
Gandhar Global Singapore Pte. Limited |
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Enterprises owned/ controlled by key management personnel or their
relatives: |
·
Parekh Brothers ·
Parekh Bulk Carriers ·
Parekh Petroleum Products ·
Gandhar Coals and Mines ·
Gandhar Infra projects Private Limited |
|
|
|
|
Others: |
·
Kamlaben Babulal Charitable Trust |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.100/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1150000 |
Equity Shares |
Rs.100/- each |
Rs. 115.000 Millions |
|
|
|
|
|
As on: 02.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs. 140.000
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 |
115.000 |
115.000 |
115.000 |
|
(b) Reserves & Surplus |
1086.982 |
751.025 |
606.368 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
1201.982 |
866.025 |
721.368 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
17.062 |
37.926 |
44.254 |
|
(b) Deferred tax liabilities (Net) |
14.559 |
13.422 |
11.137 |
|
(c) Other long
term liabilities |
10.042 |
5.968 |
4.618 |
|
(d) long-term
provisions |
3.789 |
1.958 |
1.610 |
|
Total Non-current
Liabilities (3) |
45.452 |
59.274 |
61.619 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2710.083 |
1454.371 |
1061.563 |
|
(b)
Trade payables |
1574.461 |
1355.797 |
468.851 |
|
(c)
Other current liabilities |
312.369 |
163.005 |
140.706 |
|
(d) Short-term
provisions |
184.337 |
62.736 |
31.816 |
|
Total Current
Liabilities (4) |
4781.250 |
3035.909 |
1702.936 |
|
|
|
|
|
|
TOTAL |
6028.684 |
3961.208 |
2485.923 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
629.871 |
497.211 |
467.987 |
|
(ii)
Intangible Assets |
0.525 |
0.501 |
0.623 |
|
(iii)
Capital work-in-progress |
6.424 |
64.378 |
36.454 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
7.276 |
0.020 |
0.020 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.571 |
4.548 |
14.728 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
648.667 |
566.658 |
519.812 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1330.874 |
1415.084 |
587.883 |
|
(c)
Trade receivables |
2742.648 |
1408.822 |
873.269 |
|
(d) Cash
and cash equivalents |
797.876 |
211.139 |
141.803 |
|
(e)
Short-term loans and advances |
488.329 |
340.898 |
350.479 |
|
(f)
Other current assets |
20.290 |
18.607 |
12.677 |
|
Total Current
Assets |
5380.017 |
3394.550 |
1966.111 |
|
|
|
|
|
|
TOTAL |
6028.684 |
3961.208 |
2485.923 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
12165.619 |
5843.254 |
4506.271 |
|
|
Other Income |
35.649 |
19.217 |
14.655 |
|
|
TOTAL
(A) |
12201.268 |
5862.471 |
4520.926 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5862.098 |
4344.155 |
3599.366 |
|
|
Purchases of Stock-in-Trade |
4334.581 |
1461.850 |
376.598 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
199.991 |
(610.068) |
(73.706) |
|
|
Employees benefits expense |
108.494 |
40.756 |
36.664 |
|
|
Other expenses |
907.289 |
263.925 |
334.572 |
|
|
TOTAL
(B) |
11412.453 |
5500.618 |
4273.494 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
788.815 |
361.853 |
247.432 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
164.278 |
116.251 |
64.436 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
624.537 |
245.602 |
182.996 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
18.441 |
16.420 |
12.163 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
606.096 |
229.182 |
170.833 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
229.776 |
77.842 |
48.672 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
376.320 |
151.340 |
122.161 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
229.727 |
100.069 |
10.183 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
300.000 |
15.000 |
12.227 |
|
|
Dividend |
34.500 |
5.750 |
17.250 |
|
|
Tax on Dividend |
5.864 |
0.932 |
2.798 |
|
|
BALANCE
CARRIED TO THE B/S |
265.683 |
229.727 |
100.069 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2857.292 |
1974.997 |
1370.640 |
|
|
TOTAL
EARNINGS |
2857.292 |
1974.997 |
1370.640 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
327.23 |
131.60 |
106.23 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.08 |
2.58 |
2.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.98 |
3.92 |
3.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.08 |
5.88 |
6.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50 |
0.26 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.27 |
1.72 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.12 |
1.15 |
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 |
115.000 |
115.000 |
115.000 |
|
Reserves & Surplus |
606.368 |
751.025 |
1086.982 |
|
Net
worth |
721.368 |
866.025 |
1201.982 |
|
|
|
|
|
|
long-term borrowings |
44.254 |
37.926 |
17.062 |
|
Short term borrowings |
1061.563 |
1454.371 |
2710.083 |
|
Total
borrowings |
1105.817 |
1492.297 |
2727.145 |
|
Debt/Equity
ratio |
1.533 |
1.723 |
2.269 |
%20LIMITED%20-%20283975%2031-Aug-2014_files/image004.gif)
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 |
4506.271 |
5843.254 |
12165.619 |
|
|
|
29.669 |
108.199 |
%20LIMITED%20-%20283975%2031-Aug-2014_files/image006.gif)
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 |
4506.271 |
5843.254 |
12165.619 |
|
Profit |
122.161 |
151.340 |
376.320 |
|
|
2.71% |
2.59% |
3.09% |
%20LIMITED%20-%20283975%2031-Aug-2014_files/image008.gif)
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 |
Yes |
|
5] |
Type of Business |
No |
|
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Loans repayable on demand from banks |
0.030 |
0.000 |
|
Loans and advances from directors |
33.139 |
29.125 |
|
Loans and advances from others |
341.270 |
216.976 |
|
Other loans and advances |
1884.751 |
711.833 |
|
|
|
|
|
Total |
2259.19 |
957.934 |
LITIGATION DETAILS
|
Stamp No.:- WPL/40/2010 Filing
Date:- 06/01/2010 Reg. No.:- WP/144/2010 Reg.
Date:- 20/01/2010 |
|
|
Petitioner:- S. K. OSWAL POLYMENRS A PERTNERSHIP Petn.Adv.:- A R. PANDE (0) District:- BOMBAY
|
Respondent:- GANDHAR OIL REFINERY INDIA LIMITED. – Resp.Adv.:- DSK LEGAL (0) |
|
Bench:- DIVISON Status:- Admitted (Unready) Last Date:- 20/04/2010 Last Coram :- HON’BLE SHRI JUSTICE J. N. PATEL HON’BLE SHRI
JUSTICE A. P. BHANGALE |
Category : WRIT PETITIONS (DIVISION BENCH) Stage:- WRIT PETITIONS (DIVISION BENCH) |
|
Act :- C..P.C (Non-interlocutory Order) |
|
NOTE: Registered office of the company has been shifted from 29/3, Sewree Premises Co-Operative Society, Sewree (East), Mumbai- 400 015, Maharashtra, India to the present address.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10386687 |
16/11/2012 |
700,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICE FORT BRANCH, 4TH FLOOR, 10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI,
MAH ARASHTRA - 400001, INDIA |
B62138995 |
|
2 |
10363115 |
25/06/2012 |
320,000,000.00 |
ICICI BANK LIMITED |
CORPORATE HEAD
OFFICE, ICICI BANK TOWERS, BANDRA |
B42680025 |
|
3 |
10359678 |
11/05/2012 |
325,000,000.00 |
BANK OF INDIA |
ANDHERI MID
CORPORATE BRANCH, 28, MDI BLDG., 1ST |
B41230780 |
|
4 |
10346000 |
13/03/2012 |
317,500,000.00 |
INDUSIND BANK LIMITED |
INDUSIND HOUSE
425, DADASAHEB BHADKAMKAR MARG, |
B36472017 |
|
5 |
10310916 |
05/06/2012 * |
500,000,000.00 |
AXIS BANK LIMITED |
SILVASA BRANCH,
JIGAR COMPLEX, NAROLI RD., SILVASSA, DADAR NAGAR HAVELI - 396230, INDIA |
B43742360 |
|
6 |
10302761 |
20/07/2011 |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA |
B19016500 |
|
7 |
10287838 |
15/11/2010 |
50,000,000.00 |
ORIENTAL BANK OF COMMERCE |
FORT BRANCH ,
JASH CHAMBERS, GROUND FLOOR, SIR P .M. ROAD , FORT, MUMBAI, MAHARASHTRA -
400001, INDIA |
B03128493 |
|
8 |
10257361 |
11/11/2010 |
30,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH,, S.V. ROAD, MALAD (WEST), MUMBAI, MAHARASHTRA - 400064, INDIA |
B00299768 |
|
9 |
10234011 |
02/07/2013 * |
4,195,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B79229340 |
|
10 |
10220506 |
27/01/2012 * |
280,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED |
52/60, MAHATMA
GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B30630628 |
* Date of charge modification
PERFORMANCE
In spite of challenging global and local economic scenario and extreme volatility in forex market, the company has been able to put a very encouraging performance which is evident from a growth of 108.12% in overall sales of the company from Rs.5862.471 Millions to Rs.12201.267 Millions.
The directors are pleased to inform that in oil segment company’s products continues to get encouraging response from overseas market resulting into substantial jump in exports from Rs.1894.871 millions to Rs.3108.162 millions registering growth of 64.03% in export revenue. Further in coal segment, the sales jumped from RS.881.636 millions to Rs.5436.769 millions registering growth of 516.67 %.
The improved performance has enabled the company earned a net profit before tax of Rs.606.095 millions in the year under review as against a net profit of Rs.229.183 millions in the previous year.
FUTURE OUTLOOK
(a) Petroleum
Products:
The increasing demand in the power sector augurs well for the demand for Transformer Oil which should continue to show good growth in the year 2012-13
The growth in the automotive and Industrial sectors would decide the growth momentum for the Lubricant products. The overall demand increase for the Tubes and Tyre Industry would drive by large the market demand for process Oils.
With the disposable income increasing in the hands of the general masses, there would be increase in the spending capacity and this is good sign for the market for Liquid Paraffins, Petroleum jelly and White Oils, being essential ingredient for all personal care products and Pharmaceutical Companies. With new markets and better product coverage, would be essential growth driver for exports business.
FIXED ASSETS
Tangible Assets
·
Lease hold Land
·
Free hold Land
·
Factory Building
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Office and Laboratory
Equipment’s
·
Air Conditioner
·
Computer
Intangible Assets
·
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 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] 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. 60.47 |
|
|
1 |
Rs. 100.35 |
|
Euro |
1 |
Rs. 79.86 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.