MIRA INFORM REPORT

 

 

Report Date :

22.12.2014

 

IDENTIFICATION DETAILS

 

Name :

DOW CHEMICAL INTERNATIONAL PRIVATE LIMITED (w.e.f. 01.11.1999)

 

 

Formerly Known As :

DOW (INDIA) SYSTEMS PRIVATE LIMITED

 

 

Registered Office :

1st Floor, Block B, Godrej IT Park, 02, Godrej, Business District, Pirojshanagar, Vikroli (West), Mumbai – 400 079, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

13.02.1998

 

 

Com. Reg. No.:

11-113551

 

 

Capital Investment / Paid-up Capital :

Rs.24.933 millions

 

 

CIN No.:

[Company Identification No.]

U24239MH1998PTC113551

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMD10067B

 

 

PAN No.:

[Permanent Account No.]

AAACD4467B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of manufacturing, trading and indenting in chemicals, and automotive engineering solutions and also engaged in back-end support, engineering and research and development activities.

 

 

No. of Employees :

Information declined by the Management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 5281100

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

Rating reflects sound financial risk profile marked by decent liquidity position and long track record of operation.

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

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.: 91-22-67832300/ 66741500)

 

LOCATIONS

 

Registered Office/ Corporate Office :

1st Floor, Block B, Godrej IT Park, 02, Godrej, Business District, Pirojshanagar, Vikroli (West) Mumbai – 400 079, Maharashtra, India 

Tel. No.:

91-22-67832300/ 66741700/ 66741500

Fax No.:

91-22-26524217/ 66741824/ 66741825

E-Mail :

infoindia@dow.com

Website :

www.dow.com

 

 

Center of Excellence - Transactional Services and Expertise :

Business Process Services Center, C/O Tata Consultancy Services Limited, Kensington B Wing, 13th Floor, Phase III, Hiranandani Business Park, SEZ, Powai, Mumbai – 400 076, Maharashtra, India

Tel. No. :

91-22-67323000

Fax No.:

91-22-67327362

 

 

Center of Excellence – Engineering :

India Engineering Center, Tamarai Tech Park, S.P. Plot No.16 - 19 and 20-A
Jawaharlal Nehru Road, Guindy, Chennai – 600 032, Tamilnadu, India

Tel. No. :

91-44-39815000

Fax No.:

91-44-39814817

 

 

P U System House :

Plot No.8-A/1/2, Thane Belapur Road, Kalwa Block, Turbhe, Navi Mumbai -400 703, Maharashtra, India

Tel. No. :

91-22-67934900

Fax No.:

91-22-27602532

 

 

Dow Advanced Materials – Manufacturing Unit 1 :

Plot No. T-22/PT, MIDC, Taloja Industrial Area, Raigad District, Taloja – 410 208, Maharashtra, India

Tel. No. :

91-22-67315555

Fax No.:

91-22-67315569

 

 

Dow Advanced Materials – Manufacturing Unit 2 :

Plot No. L7, Phase II, SIPCOT Industrial Park, Mambakkam Post, Sunkuvarchatram Via, Kanchipuram District – 601 206, Tamilnadu India

Tel. No. :

91-44-47111700

Fax No.:

91-44-47111999

 

 

Branch Office :

A-6, Sector - 58, Noida – 201 301, Uttar Pradesh India

Tel. No. :

91-120-4260786

Fax No.:

91-120-4260780

 

 

DIRECTORS

 

AS ON 13.10.2014

 

Name :

Mr. Vipul Shah

Designation :

Managing Director

Address :

69/A, Jai Bharat Society, 3rd Road, Khar (West), Mumbai – 400 052, Maharashtra, India

Date of Birth/Age :

20.10.1959

Date of Appointment :

18.10.2011

PAN No.:

AAEJH4578A

DIN No.:

00174680

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24239MH1998PTC113551

DOW CHEMICAL INTERNATIONAL PRIVATE LIMITED

Managing director

18-10-2011

29-07-2004

-

Active

NO

2

U41000TG2005PTC072437

WATERHEALTH INDIA PRIVATE LIMITED

Additional director

01-10-2011

16-02-2007

25-06-2012

Active

NO

3

U24231MH1995PTC132718

ROHM AND HAAS (INDIA) PRIVATE LIMITED

Director

18-10-2011

18-10-2011

26-03-2012

Active

NO

4

U24100GJ2008PLC054348

DOW-GACL SOLVENTURE LIMITED

Nominee director

28-03-2012

28-03-2012

-

Strike off

NO

5

U24233MH2013PTC245868

BLUE CUBE CHEMICALS INDIA PRIVATE LIMITED

Director

19-07-2013

19-07-2013

-

Active

NO

6

U24233MH2014PTC256523

SALT LAKE CHEMICAL INDIA PRIVATE LIMITED

Director

24-07-2014

24-07-2014

-

Active

NO

7

U24233MH2014PTC257787

ARUBA CHEMICALS INDIA PRIVATE LIMITED

Director

03-09-2014

03-09-2014

-

Active

NO

 

 

Name :

Mrs. Ramolla Tarachand Karnani

Designation :

Director

Address :

701 – 702, Anant Basera, S.S. Patkar Mahavidhyalaya Marg, Off S.V. Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India

Date of Birth/Age :

11.08.1959

Date of Appointment :

29.07.2004

PAN No.:

AAEPK7929A

DIN No.:

00174531

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24239MH1998PTC113551

DOW CHEMICAL INTERNATIONAL PRIVATE LIMITED

Director

29-07-2004

29-07-2004

-

Active

NO

2

U11100MH2008PTC185467

K-DOW PETROCHEMICALS PRIVATE LIMITED

Director

05-08-2008

05-08-2008

-

Strike off

NO

3

U24233MH2010PTC201758

STYRON INDIA TRADING PRIVATE LIMITED

Director

06-04-2010

06-04-2010

17-06-2010

Active

NO

4

U24100GJ2008PLC054348

DOW-GACL SOLVENTURE LIMITED

Alternate director

30-06-2011

30-06-2011

01-10-2011

Strike off

NO

5

U24233MH2014PTC256523

SALT LAKE CHEMICAL INDIA PRIVATE LIMITED

Director

24-07-2014

24-07-2014

-

Active

NO

6

U24233MH2014PTC257787

ARUBA CHEMICALS INDIA PRIVATE LIMITED

Director

03-09-2014

03-09-2014

-

Active

NO

 

 

Name :

Mr. Chandrakant Nayak

Designation :

Director

Address :

C-31/266 MIG Colony, Gandhi Nagar, Bandra, Mumbai – 400 051, Maharashtra, India

Date of Birth/Age :

09.08.1966

Date of Appointment :

21.11.2006

PAN No.:

AAEPN2157M

DIN No.:

00680762

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24239MH1998PTC113551

DOW CHEMICAL INTERNATIONAL PRIVATE LIMITED

Director

21-11-2006

21-11-2006

-

Active

NO

2

U74999MH2014PTC255780

VOLTAS WATER SOLUTIONS PRIVATE LIMITED

Director

01-07-2014

01-07-2014

-

Active

NO

 

 

Name :

Mr. Michel Barrier

Designation :

Director

Address :

Cama Terrasses 26, Altamount Road, Mumbai – 400 023, Maharashtra, India

Date of Birth/Age :

08.02.1958

Date of Appointment :

20.09.2011

PAN No.:

BACPB7614L

DIN No.:

03365174

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24231MH1995PTC132718

ROHM AND HAAS (INDIA) PRIVATE LIMITED

Director

23-03-2011

23-03-2011

26-03-2012

Active

NO

2

U24239MH1998PTC113551

DOW CHEMICAL INTERNATIONAL PRIVATE LIMITED

Director

20-09-2011

25-03-2011

-

Active

NO

3

U24100GJ2008PLC054348

DOW-GACL SOLVENTURE LIMITED

Director

30-06-2011

31-03-2011

-

Strike off

NO

 

 

Name :

Mr. Subhash Shrinivas Mukadam

Designation :

Director

Address :

F33, 2/3, Prem Sagar CHS, Sector 29, Vashi, Navi Mumbai – 400 703, Maharashtra, India

Date of Birth/Age :

05.05.1969

Date of Appointment :

20.09.2011

PAN No.

ABGPM8026Q

DIN No.:

03593259

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24239MH1998PTC113551

DOW CHEMICAL INTERNATIONAL PRIVATE LIMITED

Director

20-09-2011

06-09-2011

-

Active

NO

2

U01110MH1994PTC083566

DOW AGROSCIENCES INDIA PRIVATE LIMITED

Additional director

19-11-2014

19-11-2014

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mrs. Ramolla Tarachand Karnani

Designation :

Secretary

Address :

701-702, Anant Basera, S.S. Patkar Mahavidhyalaya Marg, Off S.V. Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India

Date of Birth/Age :

11.08.1959

Date of Appointment :

01.06.2001

PAN.:

AAEPK7929A

 

 

MAJOR SHAREHOLDERS

 

AS ON 13.10.2014

 

Names of Shareholders

 

No. of Shares

Dow Chemical Pacific (Singapore) Pte Limited, Singapore

2493322

Dow Chemical Pacific Singapore Pte Limited, Singapore

17

Total

2493339

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 13.10.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of manufacturing, trading and indenting in chemicals, and automotive engineering solutions and also engaged in back-end support, engineering and research and development activities.

 

 

Products :

Item Code No. (ITC Code)

 

Product Description

39072090

Voralast* GL 776 Polyol

 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the Management.

 

 

Bankers :

Banker Name

Citibank

Branch Address

Fort, Mumbai, Maharashtra, India 

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Bank of America, National Association, 16th Floor, Express Towers, Nariman Point, Mumbai – 400 026, Maharashtra, India

 

 

Facilities :

--

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells LLP

Chartered Accountants

Address :

12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400 018, Maharashtra, India

Tel. No.:

91-22-66679000

Fax No.:

91-22-66679025

Income-tax PAN of auditor or auditor's firm :

AACFD4815A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company (Directly):

Dow Chemical Pacific (Singapore) Pte Limited

 

 

Ultimate Holding Company:

The Dow Chemical Company, USA

 

 

Fellow Subsidiary Companies:

·         ANGUS Chemical Company

·         ANGUS Chemie GmbH

·         DCOMCO Inc

·         Dow AgroSciences India Private Limited

·         Dow AgroSciences L L C

·         Dow AgroSciences Southern Africa (Proprietary) Limited

·         Dow AgroSciences Switzerland S.A.

·         Dow Belgium B.V.B.A.

·         Dow Benelux B.V.

·         Dow Brasil S.A.

·         Dow Brasil Sudeste Industrial Limited

·         Dow Chemical (Australia) Limited

·         Dow Chemical (China) Investment Company Limited

·         Dow Chemical (China) Investment Company Limited, Guangzhou branch

·         Dow Chemical (Guangzhou) Company Limited

·         Dow Chemical (Malaysia) Sdn. Bhd.

·         Dow Chemical (Shanghai) Company Limited.

·         Dow Chemical (Zhangjiagang) Company Limited

·         Dow Chemical Canada ULC

·         Dow Chemical Iberica S.L.

·         Dow Chemical IMEA GmbH

·         Dow Chemical IMEA GmbH

·         Dow Chemical Korea Limited

·         Dow Chemical Pacific Limited

·         Dow Chemical Taiwan Limited

·         Dow Chemical Thailand Limited

·         Dow Deutschland Anlagengesellschaft MbH

·         Dow Engineering Company

·         Dow Europe GmbH

·         Dow France S.A.S.

·         Dow International Technology Corporation

·         Dow Italia Divisione Commerciale s.r.l

·         Dow Italia s.r.l.

·         Dow Olefinverbund GmbH

·         Dow Plastics Southern Africa

·         Dow Portugal - Produtos Quimicos, Unipessoal, Lda.

·         Dow Southern Africa (Pty) Limited

·         Dow Stade Produktions GmbH and Co. OHG

·         Dow Turkiye Kimya Sanayi ve Ticaret Limited Sirketi

·         Dow Hydrocarbons and Resources LLC

·         Carbide Chemical (Thailand) Limited

·         FilmTec Corporation

·         Global Industrial Corporation

·         Hampshire Chemical Corp.

·         Pt Dow Indonesia

·         Rohm and Haas Chemicals LLC

·         Rohm and Haas (India) Private  Limited

·         UCAR Emulsion Systems Fze

·         UCAR Pipeline Incorporated

·         Zhejiang Pacific Chemical Corporation

·         Dow Chemical (Wuhan) Company Limited

·         Dow Chemical (NZ) Limited

·         Dow Chemical Singapore Pte. Limited

·         Dow Chemical Korea Limited - Hongkong Branch

·         Dow Chemical Thailand Limited - Hongkong Branch

·         Rohm and Haas Singapore (Pte) Limited

·         Rohm and Haas Japan Kabushiki Kaisha

·         Dow AgroSciences (NZ) Limited

·         P.T Dow Agrosciences Indonesia

·         PT Dow Indonesia

·         Rohm and Haas Philippines Inc

·         Hyperlast Limited

·         Dow Chemical Japan Limited (Agrosciences Division)

·         Dow Agrosciences (China) Limited

·         Dow Agrosciences BV Philippines Branch

·         Dow Chemical Pacific Limited Philippines Branch

·         Dow AgroSciences (China) Company Limited

·         RHEM Asia Limited

·         Rohm and Haas Taiwan Inc

·         Rohm and Haas Korea Co Limited

·         RHEM Korea Limited

·         RH China R & D Center

·         RHEM KK

·         Zhejiang Omex Environmental Engineering

·         Dow Chemical (Zhangjiagang) Co., Limited

 

 

Associates :

·         Siam Synthetic Latex Company Limited

·         Anabond Revocoat India Private Limited

·         Siam Polyethylene Company Limited

·         MEGlobal International FZE

 

 

 

CAPITAL STRUCTURE

 

AS ON 13.10.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

10000000

Equity Shares

Rs.10/- each

Rs.100.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

2493339

Equity Shares

Rs.10/- each

Rs.24.933 millions

 

 

 

 

 

 

FINANCIAL DATA

[All figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.        EQUITY AND LIABILITIES

 

 

 

(1) Shareholders' Funds

 

 

 

(a) Share Capital

24.933

27.614

27.614

(b) Reserves & Surplus

1823.475

4775.839

4091.883

(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)

1848.408

4803.453

4119.497

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

5.471

0.000

0.000

(d) Long-term provisions

85.710

98.946

101.498

Total Non-current Liabilities (3)

91.181

98.946

101.498

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2840.000

2489.197

1451.983

(b) Trade payables

3248.252

3060.736

3216.028

(c) Other current liabilities

367.825

339.139

367.664

(d) Short-term provisions

2898.534

130.913

142.745

Total Current Liabilities (4)

9354.611

6019.985

5178.420

 

 

 

 

TOTAL

11294.200

10922.384

9399.415

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

606.041

860.706

1031.053

(ii) Intangible Assets

0.946

0.619

0.369

(iii) Capital work-in-progress

0.734

8.685

92.779

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

200.440

156.717

129.052

(d)  Long-term Loan and Advances

794.106

880.112

656.134

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1602.267

1906.839

1909.387

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

4225.454

3358.087

3542.972

(c) Trade receivables

4432.780

4009.506

2974.828

(d) Cash and cash equivalents

104.182

1039.940

45.974

(e) Short-term loans and advances

929.516

606.902

824.944

(f) Other current assets

0.001

1.110

101.310

Total Current Assets

9691.933

9015.545

7490.028

 

 

 

 

TOTAL

11294.200

10922.384

9399.415

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Sales

14763.000

12419.000

10335.700

 

 

Commission

792.000

826.000

785.800

 

 

Income from Services rendered

3236.000

3186.000

3001.500

 

 

Export Incentives

54.000

0.000

0.000

 

 

Technical Service Income

0.000

0.000

24.300

 

 

Other Income

79.000

113.000

49.900

 

 

TOTAL                                     (A)

18924.000

16544.000

14197.200

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

17300.000

15105.000

13074.100

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                     (B)

17300.000

15105.000

13074.100

(including Interest & depreciation)

 

 

 

 

 

Less

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

1624.000

1439.000

 

 

 

 

 

 

Less

INTEREST                                                         (D)

270.000

179.000

 

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

1354.000

1260.000

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

176.000

231.000

 

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX (E-F)                  (G)

1178.000

1029.000

1123.100

 

 

 

 

 

Less

TAX                                                                  (H)

370.000

345.000

379.600

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX (G-H)                   (I)

808.000

684.000

743.500

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

4450.000

4010.000

3600.000

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

324.06

247.70

269.24

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

5.47

5.51

7.19

 

 

 

 

 

Operating Profit Margin

(PBDIT/ Sales)

(%)

11.00

11.59

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.62

9.57

12.24

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.64

0.21

0.27

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.54

0.52

0.35

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.04

1.50

1.45

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(INR in Mlns.)

(INR in Mlns.)

(INR in Mlns.)

Share Capital

27.614

27.614

24.933

Reserves & Surplus

4091.883

4775.839

1823.475

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

4119.497

4803.453

1848.408

 

 

 

 

Long Term borrowings

0.000

0.000

0.000

Short Term borrowings

1451.983

2489.197

2840.000

Total borrowings

1451.983

2489.197

2840.000

Debt/Equity ratio

0.352

0.518

1.536

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Sales

10,335.700

12,419.000

14,763.000

 

 

20.156

18.874

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Sales

10,335.700

12,419.000

14,763.000

Profit

743.500

684.000

808.000

 

7.19%

5.51%

5.47%

 

 

 

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

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

No

 

 

CHANGE OF ADDRESS

 

The Registered office of the company has been shifted from Corporate Par, Unit No.1, V. N. Purav Marg, Chembur – 400071, Maharashtra, India, to the present address w.e.f. 02.05.2012.

 

 

COMPANY BACKGROUND:

 

The Company was incorporated on 13th February, 1998, as a private limited company. The Company is engaged in the business of manufacturing, trading and indenting in chemicals, and automotive engineering solutions. The Company is also engaged in back-end support, engineering and research and development activities and has one plant in Kalwa, Thane, Maharashtra.

 

 

 

UNSECURED LOANS

 

Particulars

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

SHORT TERM BORROWINGS

 

 

Working Capital Loan from bank

850.000

639.197

Loans repayable on demand from Banks

500.000

400.000

Loans and advances from related parties

1490.000

1450.000

Total

2840.000

2489.197

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90384554

08/10/2002

2,500,000.00

BANK OF AMERICA

EXPRESS TOWER, NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA

-

2

90376793

17/02/1969 *

1,890,000.00

PUNJAB AND SIND BANK

KAROL BAGH, NEW DELHI, DELHI, INDIA

-

 

* Date of charge modification

 

FIXED ASSETS:

 

Tangible Assets          

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Computer Equipments

·         Leasehold Improvements

·         Office Equipment

 

Intangible Assets        

·         Computer Software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.07

UK Pound

1

Rs.98.73

Euro

1

Rs.77.46     

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

SUM

 

 

Report Prepared by :

SMN

 

 

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

-- PROFITABILITY

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--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

 

49

 

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

 

--

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.