MIRA
INFORM REPORT
|
Report Date : |
01.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANDHRA ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 8, S. V. Co-operative Industrial Estate, I.D.A, Jeedimetla,
Hyderabad – 500055, Telangana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.02.1991 |
|
|
|
|
Com. Reg. No.: |
01-012314 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 45.117
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24116TG1991PLC012314 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDA02175F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA8911E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Chemicals Products. |
|
|
|
|
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 |
|
Maximum Credit Limit : |
USD 4880000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Virchow Laboratories Limited’. It is an
established company having a fine track record. Financial position of the company seems to be decent. Overall
fundamental of the company appears to be sound and healthy. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based limits : A+ |
|
Rating Explanation |
Adequate degree of safety and carry low
credit risk |
|
Date |
March 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based limits : A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
March 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
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO. 91-40-23196999]
LOCATIONS
|
Registered Office : |
Plot No. 8, S. V. Co-operative Industrial Estate, I.D.A, Jeedimetla,
Hyderabad – 500055, Telangana, India |
|
Tel. No.: |
91-40-23196999 |
|
Fax No.: |
91-40-23196777 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. 110A, IDA, Pyadibhimavaram, Ranastalam Mandal, Srikakulam
District, Andhra Pradesh, India |
|
Tel. No.: |
91-8942-288215 |
|
Fax No.: |
91-8942-288151 |
DIRECTORS
AS ON 26.09.2013
|
Name : |
Mundla Sudha |
|
Designation : |
Director |
|
Address : |
Plot No. 15A, Road No.2, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
19.04.1982 |
|
Date of Appointment : |
20.03.2006 |
|
DIN No.: |
00054013 |
|
|
|
|
Name : |
Mundla Narayana Reddy |
|
Designation : |
Director |
|
Address : |
Plot No. 15A, Road No.2, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
01.06.1951 |
|
Qualification : |
M Sc |
|
Date of Appointment : |
08.09.2004 |
|
PAN No.: |
ABYPN4171A |
|
DIN No.: |
00064392 |
|
|
|
|
Name : |
Sree Phani Kumar Reddy Mallidi |
|
Designation : |
Director |
|
Address : |
Padmaja Palace, Flat No. 401, Srinagar Colony, Hyderabad, Andhra
Pradesh, India |
|
Date of Birth/Age : |
26.10.1971 |
|
Date of Appointment : |
08.09.2004 |
|
PAN No.: |
APWPM0197D |
|
DIN No.: |
00307899 |
|
|
|
|
Name : |
Dr. Nandigala Venkata Reddy |
|
Designation : |
Director |
|
Address : |
Plot No. 550, Road No.19, Jubilee Hills, Hyderabad - 500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
01.07.1943 |
|
Date of Appointment : |
08.09.2004 |
|
PAN No.: |
AAMPD2660H |
|
DIN No.: |
01740424 |
|
|
|
|
Name : |
Nandigala Prasanth |
|
Designation : |
Whole-time director |
|
Address : |
Plot No. 550, Road No. 19, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh,
India |
|
Date of Birth/Age : |
14.04.1972 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
ABYPN4171A |
|
DIN No.: |
01740471 |
|
|
|
|
Name : |
Mr. Ravinder Reddy Devireddy |
|
Designation : |
Director |
|
Address : |
Plot No. 143, Siddhartha Nagar, Behind Vengalrao Nagar, Hyderabad –
500038, Andhra Pradesh, India |
|
Date of Birth/Age : |
14.08.1934 |
|
Date of Appointment : |
08.09.2004 |
|
PAN No.: |
AMWPM8438Q |
|
DIN No.: |
02440531 |
|
|
|
|
Name : |
Maha Vishnu Mundla |
|
Designation : |
Whole-time director |
|
Address : |
Plot No. 15/A, Road No.2, Jubliee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
15.02.1987 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AMWPM8438Q |
|
DIN No.: |
02470664 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Virchow Laboratories Limited, India |
|
4510990 |
|
Linga Reddy Venkata Subash |
|
100 |
|
M. Narayana Reddy |
|
100 |
|
M. Lakshmi Prasanna |
|
100 |
|
Nandigala Venkata Reddy |
|
100 |
|
Nandigala Prasanth |
|
100 |
|
D. Ravindra Reddy |
|
100 |
|
M. S. Phani Kumar |
|
100 |
|
|
|
|
|
Total |
|
4511690 |
AS ON 26.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
99.98 |
|
Directors
or relatives of directors |
0.02 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemicals Products. |
||||||
|
|
|
||||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Andhra Bank Somajiguda Branch, D. No. 6-3-352/2, Astral Heights, Road
No 1, Banjara Hills, Hyderabad - 500034, Andhra Pradesh, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M V Narayana Reddy and Company Chartered Accountants |
|
Address : |
8-3-941, Flat No. 504, Vijayasree Apartments, Ameerpet,
Hyderabad – 500073, Andhra Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFM4830F |
|
|
|
|
Associates : |
· Virchow Chemicals Private Limited [U65910AP1988PTC008596] Imex Engineering Company Private Limited
[U74210AP1974PTC001733] Virchow Petrochemical Private Limited [U23209AP2003PTC041101] Virchow Drugs Limited [U24239AP2004PLC042949] Emmennar Pharma Containers Private Limited
[U21014AP2001PTC037859] Emmennar Chem Private Limited [U24110AP2005PTC046609] Emmennar Pharma Private Limited [U24299AP2002PTC039653] Saraca Laboratories Limited [U85195AP1988PLC008172] |
|
|
|
|
Holding company : |
Virchow Laboratores Limited [U24232AP1982PLC003368] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,511,690 |
Equity Shares |
Rs. 10/- each |
Rs. 45.117
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 |
45.117 |
45.117 |
45.117 |
|
(b) Reserves & Surplus |
1176.076 |
1069.424 |
962.925 |
|
(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) |
1221.193 |
1114.541 |
1008.042 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
607.669 |
588.169 |
395.169 |
|
(b) Deferred tax liabilities (Net) |
153.541 |
145.971 |
142.447 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
1.810 |
|
(d) long-term
provisions |
6.446 |
5.379 |
4.338 |
|
Total Non-current
Liabilities (3) |
767.656 |
739.519 |
543.764 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
703.148 |
122.104 |
328.065 |
|
(b)
Trade payables |
68.840 |
12.693 |
64.942 |
|
(c)
Other current liabilities |
95.765 |
39.406 |
38.396 |
|
(d) Short-term
provisions |
61.122 |
53.230 |
118.146 |
|
Total Current
Liabilities (4) |
928.875 |
227.433 |
549.549 |
|
|
|
|
|
|
TOTAL |
2917.724 |
2081.493 |
2101.355 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1000.027 |
1038.654 |
1046.809 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
373.677 |
219.385 |
52.186 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.342 |
7.510 |
9.134 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1382.046 |
1265.549 |
1108.129 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
288.165 |
349.139 |
216.678 |
|
(c)
Trade receivables |
910.610 |
212.179 |
528.336 |
|
(d) Cash
and cash equivalents |
12.741 |
21.929 |
12.231 |
|
(e)
Short-term loans and advances |
257.748 |
171.955 |
130.632 |
|
(f)
Other current assets |
66.414 |
60.742 |
105.349 |
|
Total
Current Assets |
1535.678 |
815.944 |
993.226 |
|
|
|
|
|
|
TOTAL |
2917.724 |
2081.493 |
2101.355 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2404.452 |
2394.796 |
2587.024 |
|
|
|
Other Income |
22.727 |
21.289 |
11.093 |
|
|
|
TOTAL (A) |
2427.179 |
2416.085 |
2598.117 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1755.493 |
1807.389 |
1812.478 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(4.943) |
(34.829) |
(23.738) |
|
|
|
Employee benefit expense |
69.676 |
67.985 |
45.588 |
|
|
|
Other expenses |
315.835 |
330.189 |
331.857 |
|
|
|
TOTAL (B) |
2136.061 |
2170.734 |
2166.185 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
291.118 |
245.351 |
431.932 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
64.604 |
31.158 |
26.805 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
226.514 |
214.193 |
405.127 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
57.990 |
56.354 |
52.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
168.524 |
157.839 |
352.443 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
61.873 |
51.340 |
110.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
106.651 |
106.499 |
241.449 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1067.424 |
960.925 |
719.476 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
1174.075 |
1067.424 |
960.925 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Earnings in Foreign Currency on FOB Basis |
1200.962 |
1174.112 |
1069.133 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
310.030 |
553.867 |
455.542 |
|
|
|
Capital Goods |
0.000 |
8.616 |
0.000 |
|
|
|
Commission Expenses |
0.788 |
2.380 |
0.000 |
|
|
|
Interest paid for packing credit |
5.459 |
2.868 |
0.000 |
|
|
|
Other Expenses |
1.101 |
2.354 |
10.302 |
|
|
TOTAL IMPORTS |
317.378 |
570.085 |
465.844 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.64 |
23.61 |
53.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.39
|
4.41 |
9.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.01
|
6.59 |
13.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.62
|
8.48 |
17.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.14 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.07
|
0.64 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65
|
3.59 |
1.81 |
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 |
45.117 |
45.117 |
45.117 |
|
Reserves & Surplus |
962.925 |
1069.424 |
1176.076 |
|
Net
worth |
1008.042 |
1114.541 |
1221.193 |
|
|
|
|
|
|
long-term borrowings |
395.169 |
588.169 |
607.669 |
|
Short term borrowings |
328.065 |
122.104 |
703.148 |
|
Total
borrowings |
723.234 |
710.273 |
1310.817 |
|
Debt/Equity ratio |
0.717 |
0.637 |
1.073 |
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 |
2587.024 |
2394.796 |
2404.452 |
|
|
|
(7.430) |
0.403 |
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 |
2587.024 |
2394.796 |
2404.452 |
|
Profit |
241.449 |
106.499 |
106.651 |
|
|
9.33% |
4.45% |
4.44% |
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 |
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 |
LITIGATION DETAILS
|
WA 1030 / 2013 |
WASR 48636 / 2013 |
CASE IS:PENDING
|
|
PETITIONER |
|
RESPONDENT |
|
APEPDCL, VISAKHAPATNAM & 2 OTHERS |
VS |
M/S.ANDHRA ORGANICS LTD, HYD & 11 OTHERS |
|
PET.ADV. : JYOTHI ESWAR GOGINENI |
|
RESP.ADV. : GUNARANJAN |
|
SUBJECT: A.P.D.D.C.F.LTD.(MISC.MATTERS) |
|
DISTRICT: HYDERABAD |
|
FILING DATE: 25-03-2013 |
POSTING STAGE : INTERLOCUTORY |
||
|
REG. DATE : 08-07-2013 |
LISTING DATE : 03-07-2013 |
STATUS : ADMIT |
|
|
HON'BLE JUDGE(S): |
N.V.RAMANA |
VILAS V.AFZULPURKAR |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10469097 |
06/12/2013 |
300,000,000.00 |
CITIBANK N. A. |
1ST FLOOR,
QUEENS PLAZA, SARDAR PATEL ROAD, HYDERABAD, ANDHRA PRADESH - 500003, INDIA |
B93102572 |
|
2 |
90262119 |
25/03/2011 * |
410,000,000.00 |
ANDHRA BANK |
SOMAJIGUDA
BRANCH, D.NO.6-3-352/2, ASTRAL HEIGHTS, ROAD NO.1, BANJARA HILLS, HYDERABAD, ANDHRA
PRADESH - 500082, INDIA |
B12596383 |
|
3 |
90261767 |
30/03/1999 |
41,060,000.00 |
BANK OF INDIA |
VISAKHAPATNAM
OVERSEAS BRANCH, 10-50-50; KISHAN BHAWAN, VISAKHAPATNAM, ANDHRA PRADESH -
530002, INDIA |
- |
|
4 |
90261648 |
30/03/1999 * |
16,000,000.00 |
BANK OF INDIA |
VISAKHAPATNAM
OVERSEAS BRANCH, 10-50-50; KISHAN BHAWAN, VISAKHAPATNAM, ANDHRA PRADESH -
530002, INDIA |
- |
|
5 |
90261546 |
10/07/1999 * |
1,830,000.00 |
BANK OF INDIA |
VISAKHAPATNAM OVERSEAS
BRANCH, 10-50-50; KISHAN BHAWAN, VISAKHAPATNAM, ANDHRA PRADESH - 530002,
INDIA |
- |
|
6 |
90261384 |
10/07/1999 * |
16,000,000.00 |
BANK OF INDIA |
VISAKHAPATNAM
OVERSEAS BRANCH, 10 - 50- 50; KISHAN BHAWAN, VISAKHAPATNAM, ANDHRA PRADESH - 530002,
INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred sales tax loan |
10.169 |
10.169 |
|
Intercorporate deposits |
597.500 |
578.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Term loans from others |
164.216 |
1.928 |
|
|
|
|
|
Total |
771.885 |
590.097 |
REVIEW OF THE
BUSINESS OPERATIONS
The company's leadership position in Sulphamethaxazole in key markets is
continuing and the company has remained a preferred source to all its
customers. Gross Sales witnessed a slight increase from Rs. 2467.388 Millions
in the previous year to Rs.2491.669 Millions in the current year and earned
Profit after Taxation Rs.106.700 Millions as against previous year profit of
Rs.106.500 Millions.
They will make every effort to achieve the best possible results in the
ensuing years.
FIXED ASSETS:
· Land
Buildings
Factory
building
Plant
and equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
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. 60.09 |
|
|
1 |
Rs. 102.33 |
|
Euro |
1 |
Rs. 82.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
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 |
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 |
|
DEFAULTERS |
|
|
|
--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.