MIRA
INFORM REPORT
|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
VISWAAT
CHEMICALS LIMITED |
|
|
|
|
Formerly Known
As : |
VISWAAT CHEMICALS PRIVATE LIMITED (w.e.f.09.12.1997) VISWAT CHEMICALS DEALERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Viswaat 7, Satsang Complex, Upper Govind Nagar, L S Raheja Marg, Malad
(East), Mumbai – 400097, Maharashtra |
|
|
|
|
Country : |
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|
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Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
09.07.1996 |
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|
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Com. Reg. No.: |
11-100815 |
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Capital
Investment / Paid-up Capital : |
Rs.49.519 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51496MH1996PLC100815 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV09746C |
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|
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PAN No.: [Permanent Account No.] |
AAACV4184B |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Specialty Chemicals for Leather, Textile,
Pharmaceuticals, Cosmetics, Refinery, Paints and Specialty Surfactants. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Trade relations are fair. Business is active. Payment terms are usually
correct. The company can be considered for business dealings at usual trade
terms and conditions. |
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 |
Have moderate degree of safety and carry
moderate credit risk |
|
Date |
24.06.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk |
|
Date |
24.06.2014 |
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 DENIED
|
Name : |
Mr. Lokesh |
|
Designation : |
Adman Executive |
|
Contact No.: |
91-22-30052255 |
|
Date : |
30.08.2014 |
LOCATIONS
|
Registered / Corporate Office : |
Viswaat 7, Satsang Complex, Upper Govind Nagar, L S Raheja Marg, Malad
(East), Mumbai – 400097, Maharashtra, India |
|
Tel. No.: |
91-22-32452211/ 28740365/ 2341/ 32409612/
30052255 |
|
Fax No.: |
91-22-28745321 |
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E-Mail : |
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|
Website : |
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|
Area : |
1700 Sq. ft |
|
Location : |
Owned |
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|
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|
Factory : |
Plot No. N1, Additional Ambernath MIDC, Anand Nagar, Thane – 421506,
Maharashtra, India |
|
Tel. No.: |
91-251-2620046/ 48 |
|
|
|
|
Regional Office : |
Old Number 32, New Number 10, 12th Avenue, Ashok Nagar, Chennai
– 600083, Tamilnadu, India |
|
Tel. No.: |
91-44-24741503/ 39131203 |
|
|
|
|
Technical Services Centers : |
Located At: ·
Kanupur, Uttar Pradesh, India ·
Chennai, Tamilnadu, India ·
Ranipet, Tamilnadu, India ·
Vaniyambadi, Tamilnadu, India ·
Kolkata, West Bengal, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Vinesh Vivek Shetty |
|
Designation : |
Managing director |
|
Address : |
902, Beach Classic, Versova, Seven Bunglows, Andheri (West), Mumbai – 400061,
Maharashtra, India |
|
Date of Birth/Age : |
16.09.1979 |
|
Qualification : |
B.Com, MBA |
|
Date of Appointment : |
15.07.2011 |
|
PAN No.: |
AVKPS0666D |
|
DIN No.: |
00474985 |
|
|
|
|
Name : |
Mr. Vipin Kumar Jain |
|
Designation : |
Director |
|
Address : |
43, Venus, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
04.08.1966 |
|
Date of Appointment : |
29.09.1997 |
|
DIN No.: |
00165410 |
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|
|
|
Name : |
Mr. Bhaskar Monu Shetty |
|
Designation : |
Whole-time director |
|
Address : |
1101, Wellington, Hiranandani Estate, Patlipada, Thane (West) –
400607, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1957 |
|
Qualification : |
M.Com, DFM, DMM,
LLB |
|
Date of Appointment : |
27.01/2009 |
|
PAN No.: |
AAEPS7364P |
|
DIN No.: |
00347059 |
|
|
|
|
Name : |
Hari Prasanna Shetty |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 305, Building No. 2, Dheeraj Enclave, Opposite W E Highway,
Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1965 |
|
Qualification : |
B.E (Mech, MFM) |
|
Date of Appointment : |
15.07.2011 |
|
PAN No.: |
AECPS2770K |
|
DIN No.: |
00475019 |
|
|
|
|
Name : |
Mr. Haridwar Singh |
|
Designation : |
Director |
|
Address : |
32, Vigyan Nagar Society, Bavdhan Khurd, NDA Road, Pune – 411021,
Maharashtra, India |
|
Date of Birth/Age : |
31.03.1944 |
|
Qualification : |
M.Sc, PHD |
|
Date of Appointment : |
24.07.2006 |
|
DIN No.: |
00475047 |
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|
|
|
Name : |
Bollya Vivek Shetty |
|
Designation : |
Whole-time director |
|
Address : |
902, Beach
Classic, Versova Seven Bungalows, Andheri-West, Mumbai, Maharashtra,
India |
|
Date of Birth/Age : |
03.10.1949 |
|
Qualification : |
M.Com |
|
Date of Appointment : |
02.07.2010 |
|
PAN No.: |
AAKPS5390R |
|
DIN No.: |
00947091 |
|
|
|
|
Name : |
Mr. Arvind Inder Malhotra |
|
Designation : |
Director |
|
Address : |
703, Shreenathji, 16, Cross Road, Khar, Mumbai – 400052, Maharashtra,
India |
|
Date of Birth/Age : |
25.01.1947 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.08.2000 |
|
PAN No.: |
AAGPM0682C |
|
DIN No.: |
01312057 |
|
|
|
|
Name : |
Mr. Venkatesh Charan |
|
Designation : |
Director |
|
Address : |
# 460, 11th Main,
R M V Extn, Sadashivanagar, 023 Bangalore, Karnataka, India |
|
Date of Birth/Age : |
05.04.1980 |
|
Qualification : |
B. com (PGDMS) |
|
Date of Appointment : |
22.09.2011 |
|
PAN No.: |
AFEPC4073N |
|
DIN No.: |
03093496 |
|
|
|
|
Name : |
Mr. Shashikant Shetty |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
73.86 |
|
Directors or relatives of Directors |
22.58 |
|
Other top fifty shareholders |
3.56 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Specialty Chemicals for Leather, Textile,
Pharmaceuticals, Cosmetics, Refinery, Paints and Specialty Surfactants. |
||||
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|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production Kgs. |
|
Speciality Chemicals |
MT |
720 |
720 |
1335980
(including captive consumption of 860730 kgs and previous year 194964 kgs) |
|
Surfactants |
MT |
6000 |
6000 |
8447221 (including
captive consumption of 3536991 kgs and previous year 1504321 kgs ) |
|
Leather Chemicals |
MT |
12000 |
12000 |
10365413
(including captive consumption of 4815365 kgs and previous year 3900380kgs) |
|
Textile Chemicals |
MT |
4800 |
4800 |
3057141
(including captive consumption of 409471kgs and previous year 1046297kgs ) |
|
Others |
-- |
-- |
-- |
1991286 |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
· Bank of Maharashtra, Dr. Ambedkar Road Branch, 167/A, Poonawadi, Mumbai - 400014, Maharashtra, India Bank of Baroda |
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|
Facilities : |
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S. K. Shetty and
Associates Chartered Accountants |
|
Address : |
D-101, Galaxy
Heights, Goregaon Link Road, Opposite Bangur Nagar, Goregaon West, Mumbai –
400104, Maharashtra, India |
|
PAN
No. : |
AALFS5141D |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4951897 |
Equity Shares |
Rs.10/- each |
Rs.49.519 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 |
49.519 |
43.410 |
40.361 |
|
(b) Reserves & Surplus |
213.575 |
185.641 |
145.937 |
|
(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) |
263.094 |
229.051 |
186.298 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
70.681 |
76.148 |
59.444 |
|
(b) Deferred tax liabilities (Net) |
26.223 |
21.017 |
18.011 |
|
(c) Other long term liabilities |
26.442 |
24.671 |
19.905 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
123.346 |
121.836 |
97.360 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
306.569 |
233.396 |
153.893 |
|
(b) Trade payables |
293.885 |
181.259 |
131.606 |
|
(c) Other current liabilities |
68.518 |
67.166 |
49.974 |
|
(d) Short-term provisions |
10.165 |
10.627 |
12.853 |
|
Total Current Liabilities (4) |
679.137 |
492.448 |
348.326 |
|
|
|
|
|
|
TOTAL |
1065.577 |
843.335 |
631.984 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
282.361 |
226.097 |
209.439 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.502 |
0.602 |
4.482 |
|
(iv) Intangible
assets under development |
47.221 |
35.509 |
0.000 |
|
(b) Non-current Investments |
0.492 |
10.928 |
0.422 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.321 |
13.781 |
8.991 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
344.897 |
286.917 |
223.334 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
128.944 |
98.868 |
65.897 |
|
(c) Trade receivables |
517.444 |
397.120 |
311.075 |
|
(d) Cash and cash
equivalents |
35.031 |
34.766 |
7.306 |
|
(e) Short-term loans and
advances |
37.227 |
23.151 |
24.054 |
|
(f) Other current assets |
2.034 |
2.513 |
0.318 |
|
Total Current Assets |
720.680 |
556.418 |
408.650 |
|
|
|
|
|
|
TOTAL |
1065.577 |
843.335 |
631.984 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1765.366 |
1462.847 |
1161.650 |
|
|
|
Other Income |
20.783 |
2.643 |
2.173 |
|
|
|
TOTAL |
1786.149 |
1465.490 |
1163.823 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1405.730 |
1153.122 |
899.725 |
|
|
|
Purchases of Stock-in-Trade |
21.239 |
15.310 |
2.300 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(10.425) |
(28.779) |
(16.111) |
|
|
|
Employees benefits expense |
98.124 |
92.400 |
74.697 |
|
|
|
Other expenses |
149.906 |
118.962 |
111.792 |
|
|
|
TOTAL |
1664.574 |
1351.015 |
1072.403 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
121.575 |
114.475 |
91.420 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
52.255 |
41.323 |
25.463 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
69.320 |
73.152 |
65.957 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
21.720 |
17.032 |
13.652 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
47.600 |
56.120 |
52.305 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
16.189 |
18.479 |
17.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
31.411 |
37.641 |
34.735 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
120.809 |
89.827 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
|
3.229 |
|
|
|
Tax on Dividend |
|
|
0.524 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
120.809 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
339.041 |
157.589 |
|
|
TOTAL EARNINGS |
NA |
339.041 |
157.589 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.23 |
9.32 |
10.27 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.76 |
2.57 |
2.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.70 |
3.84 |
4.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.68 |
7.05 |
8.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.25 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.43 |
1.35 |
1.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.13 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
40.361 |
43.410 |
49.519 |
|
Reserves & Surplus |
145.937 |
185.641 |
213.575 |
|
Net
worth |
186.298 |
229.051 |
263.094 |
|
|
|
|
|
|
long-term borrowings |
59.444 |
76.148 |
70.681 |
|
Short term borrowings |
153.893 |
233.396 |
306.569 |
|
Total
borrowings |
213.337 |
309.544 |
377.250 |
|
Debt/Equity
ratio |
1.145 |
1.351 |
1.434 |
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 |
1161.650 |
1462.847 |
1765.366 |
|
|
|
25.928 |
20.680 |
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 |
1161.650 |
1462.847 |
1765.366 |
|
Profit |
34.735 |
37.641 |
31.411 |
|
|
2.99% |
2.57% |
1.78% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBT:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
|
|
|
|
|
|
Current maturities of long-term debt |
28.433 |
24.401 |
20.501 |
|
|
|
|
|
|
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 |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Deposits |
20.500 |
5.000 |
|
|
|
|
|
Total |
20.500 |
5.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10469396 |
20/12/2013 |
20,000,000.00 |
BANK OF MAHARASHTRA |
DR. AMBEDKAR ROAD BRANCH, 167/A, POONAWADI, DR. AMBEDKAR ROAD, DADAR
(EAST), MUMBAI, MAHARASHTRA - 400014, INDIA |
B93224145 |
|
2 |
10317299 |
19/10/2011 |
20,000,000.00 |
BANK OF MAHARASHTRA |
DR. AMBEDKAR ROAD BRANCH, RAJA SHIVAJI VIDYALAYA, HINDU COLONY, SIX
LANE, DADAR (EAST), MUMBAI, MAHARASHTRA - 400014, INDIA |
B25171448 |
|
3 |
90158225 |
20/06/2008 * |
149,900,000.00 |
BANK OF MAHARASHTRA |
DR.AMBEDKAR ROAD BRANCH, RAJA SHIVAJI VIDYA SANKUL, HINDU COLONY, SIX
LANE, DADAR (EAST), MUMBAI, MAHARASHTRA - 400014, INDIA |
A50264977 |
|
4 |
90155402 |
10/10/2013 * |
633,600,000.00 |
BANK OF MAHARASHTRA |
DR. AMBEDKAR ROAD BRANCH, 167/A, POONAWADI, MUMBAI, MAHARASHTRA -
400014, INDIA |
B87269296 |
|
5 |
90157999 |
21/08/2002 |
9,000,000.00 |
ORIENTAL BANK OF COMMERCE |
BOMBAY BAZAR BUILDING, MUMBAI, MAHARASHTRA - 400054, INDIA |
- |
|
6 |
90157426 |
24/02/2000 |
400,000.00 |
ORIENTAL BANK OF COMMERCE |
BOMBAY BAZAR BUILDING, MUMBAI, MAHARASHTRA - 400054, INDIA |
- |
* Date of charge modification
OPERATIONAL AND FINANCIAL PERFORMANCE:
India’s economic growth rate (GDP) had slipped to decade's low of 5 per cent in 2012-13 mainly on account of the impact of the global financial woes. Improvement in performance of agriculture and manufacturing sectors is expected to push the economic growth rate to 6.4% in 2013-14 from 5% in the previous fiscal. However, GDP of first quarter of the year slipped further below 5% and expected to settle around 5% during the current fiscal also.
The improvement in the growth rate in the current fiscal would mainly depends on better performance of agriculture, industry and services sectors. The current economic slowdown has provided an opportunity to specialty chemical companies in India to review their strategic direction and strengthen capabilities required to cater to the unique requirements of the domestic market. Companies that invest to increase their competitiveness and work towards innovative solutions to meet specific customer needs would be best positioned to reap benefits when high growth returns for the Indian specialty chemicals industry which may not be too far into the future. Continued investment in R and D and manufacturing augurs well for India which is emerging as a global specialty chemicals hub. However, the Indian market is different and presents a unique set of challenges. Local companies and MNCs alike are gearing up to surmount these through innovative strategies to effectively participate and win as this growth story unfolds During the year, the Company has recorded a sales turnover of Rs. 1948.200 millions as against Rs. 1610.230 millions in the previous year, registering a growth of 21%. The profit before depreciation and tax is Rs.69.200 millions as against Rs. 73.000 millions, Company could not maintain the proportionate growth in profitability due to huge volatility in the prices of the raw materials and rising interest rates. Added to this, currency volatility has had adverse impact on company’s profitability. In spite of these adverse conditions they were able to maintain the profitability due to efficient cost cutting measures like controlling of overheads, effective inventory management improving the debtor’s cycle, effective purchases and focused R and D activities.
VISWAAT being a multi-industry Specialty chemicals company, having the exposure to vide range of industries like Construction, Pharmaceuticals, Textile, Leather, health care, paper, printing ink, etc.,
As a multi products manufacturing company strongly focused into newly developed products. Company has invested huge amount on R and D facilities which is one among the best in the industry. Company has also recently got the recognition from Department of Scientific and Industrial Research (DSIR), Govt. of India, Ministry of Science and Technology, for their R and D center. With this manufacturing and technology strength company is fully equipped with infrastructure and product portfolio.
As regards to overall industrial growth the specialty chemicals industry is growing at the rate around 12%. As they are in the multi-product and multi industry they expect the average growth of 15%. They are also actually working with leading multinational companies to market their products to them as they are the actual user.
As per the recent reports and the information, the Govt. is focusing on infrastructure, their company is focusing on construction chemicals and they expect much improved business in this financial year. The company is investing in this area extending their product Portfolio.
Company is also focusing on Spin Finish business and process chemicals business and looking for much improved performance in this financial year. Company also into Surfactant Chemicals/Chemistry, which is being used in multi industry and the requirement is ever growing. With their technological strength they also expect substantial growth and Viswaat is being known in this industry.
Company is actively participating in the Exhibitions like Chem Spec, India and Europe, ACLE, China, APLE Bolivia, IILF Chennai, India Chem Gujarat, etc.
Company also expanding its Portfolio in most of the industries and products are well established and the amount of hard work and money they put in last year, they expect good business from their regular as well as new customers.
FIXED ASSETS
Ø
Land
Ø
Buildings
Ø
Office Building
Ø
Other Building
Ø
Plant and Equipment
Ø
Factory Equipment’s
Ø
Other plant and Equipment
Ø
Furniture and Fixtures
Ø
Vehicles
Ø
Motor Vehicles
Ø
Office Equipment
Ø
Other Equipments
Ø
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. 60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
|
--LEVERAGEs |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.