MIRA
INFORM REPORT
|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
BAYER VAPI PRIVATE LIMITED (w.e.f.21.05.2013) |
|
|
|
|
Formerly Known
As : |
BILAG INDUSTRIES PRIVATE LIMITED MITSU INTERMEDIATES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 306/3, Phase II, GIDC, Vapi – 396195, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.08.1990 |
|
|
|
|
Com. Reg. No.: |
04-049322 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 233.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999GJ1990PTC049322 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTB01014G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2100L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Chemicals Insecticides and Pesticides. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company appears to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a one-fourth
share in total jobs created, according to a study by industry lobby group
Assochem, Banks, real estate, automobile and telecommunications sectors are
showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Audish Agarwal |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-260-2400698 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 306/3, Phase II, GIDC, Vapi – 396195, Gujarat, India |
|
Tel. No.: |
91-260-2400443/ 2400055/ 2400444 |
|
Fax No.: |
91-260-2432774 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 12.08.2013
|
Name : |
Mr. Sekhar Kavasseri Rajagopalan |
|
Designation : |
Managing director |
|
Address : |
Flat No. C-302, Lakshachandi Apartments, Gokuldham, Goregaon (East),
Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1962 |
|
Qualification : |
Post Graduate in Business Mgt. specialisation in Materials
Mgt., Advanced Mgt. Program - ISB |
|
Date of Appointment : |
31.07.2012 |
|
PAN No.: |
ABQPK4418D |
|
DIN No.: |
03168413 |
|
|
|
|
Name : |
Mr. Pramod Gopaldas Gujarathi |
|
Designation : |
Director |
|
Address : |
26, Yash Dharamsi Park, Opposite GIDC Quest House, Vapi, Valsad –
396195, Gujarat, India |
|
Date of Birth/Age : |
25.06.1952 |
|
Qualification : |
B Tech, DMS |
|
Experience : |
17 Years |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
ACMPG6999G |
|
DIN No.: |
00418958 |
|
|
|
|
Name : |
Mr. Michael Johannes Van Nooy |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Leverkusen Honenstr 98, Leverkusen Germany 51381 |
|
Date of Birth/Age : |
16.09.1954 |
|
Date of Appointment : |
07.03.2012 |
|
DIN No.: |
05242798 |
|
|
|
|
Name : |
Rolf Otto Alfred Decker |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Amselweg 4, Langenfield Germany 40764 |
|
Date of Birth/Age : |
20.11.1958 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
03349822 |
|
|
|
|
Name : |
Dirk Backhaus |
|
Designation : |
Additional director |
|
Address : |
Baadenberger Str 20 Newehrenfeld Koln Northrhine Westphalia |
|
Date of Birth/Age : |
04.02.1967 |
|
Date of Appointment : |
01.01.2014 |
|
DIN No.: |
06772537 |
KEY EXECUTIVES
|
Name : |
Mr. Audish Agarwal |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Nikunj Jaysukhlal Savaliya |
|
Designation : |
Secretary |
|
Address : |
102, Tithi Flats, 17, Bhadran Nagar, New Sama Road, Vadodara – 390024,
Gujarat, India |
|
Date of Birth/Age : |
28.11.1981 |
|
Date of Appointment : |
24.04.2013 |
|
PAN No.: |
BBEPS9789N |
|
|
|
|
Name : |
Mr. Kumar Inamdar |
|
Designation : |
Managing Director Responsible for the unit as a whole |
|
Date of Birth/Age : |
47 Years |
|
Qualification : |
MBA |
|
Experience : |
14 Years |
|
|
|
|
Name : |
Mr. S. Ravisankar |
|
Designation : |
Director Company Secretary In Charge of Financial &
Accounting area as well as 1egal & Secretarial |
|
Date of Birth/Age : |
57 Years |
|
Qualification : |
B Com, ACA,CS |
|
Experience : |
10 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Bayer SAS, France |
|
23262599 |
|
Bayer Cropscience AG, Germany |
|
1 |
|
|
|
|
|
Total |
|
23262600 |
AS ON 12.08.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemicals Insecticides and Pesticides. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
·
Punjab National Bank GIDC, Vapi - 396195, Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Plot No Y 14 Block EP, Sector V Saltlake Electronic
Complex, Bidhan Nagar, Kolkata – 700091, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP3641G |
|
|
|
|
Holding company : |
· Bayer S.A.S., France Bayer CropScience AG, Germany |
|
|
|
|
Ultimate Holding Company : |
Bayer AG, Germany |
|
|
|
|
Fellow Subsidiary company : |
· Bayer CropScience Limited [L24210MH1958PLC011173] Bayer MaterialScience Private Limited
[U19113MH1995PTC179724] Bayer Pharmaceuticals Private Limited
[U05195MH1998PTC116021] Bayer BioScience Private Limited [U74899MH1977PTC179722] Nunhems India Private Limited [U74999AP1995PTC020661] Bayer Business Services GmbH Bayer Business Services Private Limited
[U72300MH2010FTC210494] Bayer CropScience (Private) Limited Currenta GmbH and Company OHG Bayer Technology Services Gmbh |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 Millions |
|
8,500,000 |
Preference Shares |
Rs. 100/- each |
Rs. 850.000 Millions |
|
|
Total |
|
Rs. 1250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23,262,600 |
Equity Shares |
Rs. 10/- each |
Rs. 233.000
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 |
233.000 |
233.000 |
278.000 |
|
(b) Reserves & Surplus |
12448.000 |
10614.000 |
11020.000 |
|
(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) |
12681.000 |
10847.000 |
11298.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
45.000 |
66.000 |
87.000 |
|
(c) Other long
term liabilities |
9.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
88.000 |
1.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
142.000 |
67.000 |
87.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1673.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
1191.000 |
848.000 |
806.000 |
|
(c)
Other current liabilities |
146.000 |
104.000 |
76.000 |
|
(d) Short-term
provisions |
55.000 |
61.000 |
43.000 |
|
Total Current
Liabilities (4) |
3065.000 |
1013.000 |
925.000 |
|
|
|
|
|
|
TOTAL |
15888.000 |
11927.000 |
12310.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2144.000 |
1932.000 |
1971.000 |
|
(ii)
Intangible Assets |
9.000 |
7.000 |
9.000 |
|
(iii)
Capital work-in-progress |
437.000 |
288.000 |
128.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6018.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1766.000 |
1539.000 |
1604.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
10374.000 |
3766.000 |
3712.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2270.000 |
1557.000 |
1566.000 |
|
(c)
Trade receivables |
1907.000 |
1956.000 |
1364.000 |
|
(d) Cash
and cash equivalents |
374.000 |
926.000 |
2356.000 |
|
(e)
Short-term loans and advances |
963.000 |
3720.000 |
3297.000 |
|
(f)
Other current assets |
0.000 |
2.000 |
15.000 |
|
Total Current
Assets |
5514.000 |
8161.000 |
8598.000 |
|
|
|
|
|
|
TOTAL |
15888.000 |
11927.000 |
12310.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation (Net) |
9184.000 |
8770.000 |
7333.000 |
|
|
|
Other Income |
345.000 |
674.000 |
NA |
|
|
|
TOTAL (A) |
9529.000 |
9444.000 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
6457.000 |
|
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3072.000 |
3608.000 |
(Including Financial
and Depreciation expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3019.000 |
3608.000 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
272.000 |
267.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2747.000 |
3341.000 |
2539.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
913.000 |
1095.000 |
621.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1834.000 |
2246.000 |
1918.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
10056.000 |
10507.000 |
8589.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transferred to Capital Redemption Reserve |
0.000 |
45.000 |
0.000 |
|
|
|
Payment of Share Premium |
0.000 |
2652.000 |
0.000 |
|
|
|
Transferred to General Reserve |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
11890.000 |
10056.000 |
10507.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods calculated on F.O.B. basis |
6423.000 |
5976.000 |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2677.000 |
|
|
|
|
|
Stores & Spares |
26.000 |
21.000 |
|
|
|
|
Capital Goods |
15.000 |
14.000 |
|
|
|
TOTAL IMPORTS |
2718.000 |
1988.000 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
78.33 |
82.54 |
69.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
19.25
|
23.78 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
29.91
|
38.10 |
34.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.12
|
28.71 |
20.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.31 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.13
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
8.06 |
9.30 |
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 |
278.000 |
233.000 |
233.000 |
|
Reserves & Surplus |
11020.000 |
10614.000 |
12448.000 |
|
Net
worth |
11,298.000 |
10,847.000 |
12,681.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
1673.000 |
|
Total
borrowings |
0.000 |
0.000 |
1,673.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.132 |
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 |
7333.000 |
8770.000 |
9184.000 |
|
|
|
19.596 |
4.721 |
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 |
7333.000 |
8770.000 |
9184.000 |
|
Profit |
1918.000 |
2246.000 |
1834.000 |
|
|
26.16% |
25.61% |
19.97% |
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 |
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90352868 |
23/05/2005 * |
1,000,000,000.00 |
STANDARD CHARTERED BANK |
90; M.G. ROAD, MUMBAI - 400001, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
200.000 |
0.000 |
|
Loans repayable on demand |
250.000 |
0.000 |
|
Other loans and advances |
1223.000 |
0.000 |
|
|
|
|
|
Total |
1673.000 |
0.000 |
CHANGE OF ADDRESS:
The registered office of the company has been shifted from 512/513, 5th
Floor, Sahar Complex, Andheri-Kurla Road, J.B. Nagar, Andheri (East), Mumbai –
400069, Maharashtra, India to the present address w.e.f.01.11.2006.
GENERAL INFORMATION
Bayer Vapi Private
Limited (Formerly known as Bilag Industries Private Limited) (the 'Company') is
a Company incorporated under the Companies Act, 1956 and having its registered
office at 306/3, IInd Phase, GIDC, Vapi - 396195. The company is 100%
subsidiary of Bayer S.A.S., France, the holding Company. The ultimate holding
Company is Bayer AG, Germany. The Company is engaged in production of
agro-chemicals which are used in wide array in Agricultural and Environmental
science products.
PERFORMANCE REVIEW
Operations
The Company s
Revenue from Operation (Net) is increased by 4.72%, from Rs.8770.000 Millions
of the year as compared to Rs.9184.000 Millions of the previous financial year.
Exports
During the year,
the Company s export sales stood at Rs. 6598.000 Millions as against
Rs.6037.000 Millions during the previous year. The Company s exports stood at
71% of the total sales.
Profitability
During the year,
the Company has achieved Profit after Taxation (PAT) of Rs. 1834.000 Millions
as against Rs. 2246.000 Millions of the previous year.
Capital Expenditure
During the year,
total additions to fixed assets including capital work-in-progress amounted to
Rs.637.000 Millions and accordingly the Gross Fixed Assets of the Company stood
at Rs.5545.000 Millions and the Net Fixed Assets including the balance amount
in Capital Work in Progress stood at Rs.2590.000 Millions.
BUSINESS EXPANSION AND FUTURE OUTLOOK
The performance of
the Company increased by 5% over the last year. Internal sales grew by 7% and external
sales grew by 5%. Overall, net sales had benefitted from volume and price and
exchange rate effects. The Company expects growing demand for its products both
in the domestic market as well as in the international market in the year ahead
and is confident of achieving more efficient results in future.
As part of its
commitment on climate change and as a part of corporate social responsibility,
the Company continues to invest in technology for further improving treatment
of effluents and waste generated during the manufacturing process.
FIXED ASSETS:
· Land
Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
Office
equipment
Computer
software
Know-how
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. 62.28 |
|
|
1 |
Rs. 103.84 |
|
Euro |
1 |
Rs. 85.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.