MIRA
INFORM REPORT
|
Report Date : |
28.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
BASF INDIA LIMITED |
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Registered
Office : |
1st Floor, Vibgyor Towers, Plot No. 62, ‘G’ Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400 051, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.05.1943 |
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Com. Reg. No.: |
11-003972 |
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Capital Investment
/ Paid-up Capital : |
Rs.432.900 Millions |
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CIN No.: [Company Identification
No.] |
L33112MH1943FLC003972 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB00133A |
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PAN No.: [Permanent Account No.] |
AAACB4599E |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in manufacture and sale of agrochemicals,
performance products, plastics, inorganic chemicals, and functional
solutions. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (78) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of BASF Societas Europaea (‘SE’). It is a
well-established company having fine track record. The rating reflects healthy business risk profile, supported by its
diversified revenue profile adequate liquidity position. Further it also
reflects managerial an financial support that company receives from parent
company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. In view of strong holding support, the company can be considered good
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
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 |
CRISIL |
|
Rating |
Non Convertible Debenture : AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
10.06.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Commercial Paper : A1+ |
|
Rating Explanation |
Very Strong degree of safety and lowest credit risk. |
|
Date |
10.06.2014 |
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
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (91-22-66618000)
LOCATIONS
|
Registered Office : |
1st Floor, Vibgyor Towers, Plot No.62, ‘G’ Block, Bandra
Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-66618000 |
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Fax No.: |
91-22-24930653/ 67582751 |
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E-Mail : |
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Website : |
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Corporate Office : |
RBC, Mahindra Towers, 1st Floor, A Wing, Dr. G M Bhosale
Marg, Worli, Mumbai – 400018, Maharashtra, India |
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Tel. No.: |
91-22-66618000/ 66917400 |
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Fax No.: |
91-22-24930653 |
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Factory 1 : |
Maharashtra (Navi Mumbai): (1) Plot No.12,
13, TTC Industrial Area, Thane-Belapur Road, Turbhe, Navi Mumbai – 400705,
Maharashtra, India |
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Factory 2 : |
(2) Plot No.C-68
and C-68 Pt., TTC Industrial Area, MIDC, Thane Belapur Road, Turbhe, Navi
Mumbai – 400613, Maharashtra, India |
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Factory 3 : |
Mangalore Bala/Thokur
Village, Surathkal-Bajpe Road, Mangalore Taluka, Dakshina Kannada District –
575030, Karnataka, India |
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Factory 4 : |
Bangalore Bommasundra
Industrial Area, Anekal Taluka, Bangalore, Karnataka, India |
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Factory 5 : |
Ankleshwar Unit I: Plot No.6214/6216,
GIDC Phase IV, Ankleshwar – 393002, Gujarat, India |
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Factory 6 : |
Unit II: Plot No.8001,
GIDC Phase VI, Ankleshwar – 393 002, Gujarat, India |
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Factory 7 : |
Dahej 4B, Dahej Industrial
Estate, Village Dahej, District Bharuch - 392130, Taluka Vagra, Gujarat,
India |
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Factory 8 : |
Himachal Pradesh Khasra No.87/1,
Village: Beer Plassis, Nalagarh, District: Solan, Himachal Pradesh, India |
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Factory 9 : |
West Bengal (Kolkata) Gate No.3, Jalan
Industrial Complex, 46/48/49/53, Jangalpur, Howrah, West Bengal, India |
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Factory 10 : |
Rajasthan Plot No.F-218,
Industrial Area IID Centre, Khushkera, Bhiwadi District, Alwar, Rajasthan,
India |
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Branches : |
Located at: ·
Ahmedabad Bangalore Chennai Delhi Kolkata Pune |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Prasad Chandran |
|
Designation : |
Chairman and Managing Director |
|
Qualification : |
B.Sc. (Hons.), Diploma in Industrial Chemistry, M.B.A. |
|
Date of Appointment : |
2nd April, 2005 (re-appointed on 2nd April 2010) |
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|
Name : |
Ms. Saori Dubourg |
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Designation : |
Director (upto 30th April, 2013) |
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Name : |
Mr. Gops Pillay |
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Designation : |
Director (w.e.f. 30th April, 2013) |
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Name : |
Mr. Thilo Bischoff |
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Designation : |
Alternate Director to Mr. Gops Pillay (w.e.f. 30th
April, 2013) |
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|
Name : |
Dr. Rainer Diercks |
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Designation : |
Director |
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Name : |
Dr. G. Ramaseshan |
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Designation : |
Alternate Director to Dr. Rainer Diercks
(w.e.f. 1st September, 2011) |
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Date of Appointment : |
01.09.2011 |
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Name : |
Mr. Andrew Postlethwaite |
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Designation : |
Director |
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Name : |
Mr. S. Regunathan |
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Designation : |
Alternate Director to Mr.
Andrew Postlethwaite |
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Date of Appointment : |
16.07.2010 |
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|
Name : |
Mr. R.A. Shah |
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Designation : |
Director |
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Name : |
Mr. R.R. Nair |
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Designation : |
Director |
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|
Name : |
Mr. Pradip P. Shah |
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Designation : |
Director |
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|
Name : |
Mr. Arun Bewoor |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep
Chandan |
|
Designation : |
Director – Legal and
Company Secretary |
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|
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Management Committee : |
Mr. Prasad Chandran Mr. Thilo Bischoff Mr. Yatindra Borkar Mr. Pradeep Chandan Mr. Sandeep Gadre Mr. Ajai Gupta Dr. G. Ramaseshan Mr. S. Regunathan Mr. P. P. Srees Mr. Deepak Thuse Mr. K. Thyagarajan |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
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|
|
|
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|
31743220 |
73.33 |
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|
31743220 |
73.33 |
|
Total shareholding of Promoter
and Promoter Group (A) |
31743220 |
73.33 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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|
670450 |
1.55 |
|
|
592745 |
1.37 |
|
|
30 |
0.00 |
|
|
1181277 |
2.73 |
|
|
379941 |
0.88 |
|
|
2824443 |
6.53 |
|
|
|
|
|
|
2493520 |
5.76 |
|
|
|
|
|
|
5352515 |
12.37 |
|
|
643288 |
1.49 |
|
|
228654 |
0.53 |
|
|
224094 |
0.52 |
|
|
2222 |
0.01 |
|
|
2338 |
0.01 |
|
|
8717977 |
20.14 |
|
Total Public shareholding (B) |
11542420 |
26.67 |
|
Total (A)+(B) |
43285640 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
43285640 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacture and sale of
agrochemicals, performance products, plastics, inorganic chemicals, and
functional solutions. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
a) Manufactured
Goods: |
|
|
|
|
Expandable Polystyrene (Styropor) |
M.T. |
30,000 |
22,079 |
|
Engineering Plastics |
M.T |
9,000 |
2,127 |
|
Leather Auxiliaries (Organic Chemicals) |
M.T |
15,000 |
12,448 |
|
Leather Auxiliaries, Finishing Agents and Pigments |
M.T |
7,350 |
5,344 |
|
Leather Chemicals and Auxiliaries including Metal Complex Dyes and
Acrylic Polymers and Carboxylated Styrene Butadiene Lattices |
M.T |
67,225 |
48,105 |
|
Pesticides - Formulations |
M.T |
-- |
377 |
|
|
K.L. |
-- |
2,484 |
|
Optical Brightening Agent |
M.T |
6,700 |
3,925 |
|
Thermal Developers and Colour Former |
M.T. |
905 |
523 |
|
Other Polyurethanes*** |
M.T. |
27,500 |
19,617 |
|
Paints*** |
M.T. |
12,798 |
1,187 |
|
Construction Chemicals *** |
M.T |
62,160 |
1,307 |
|
b) Traded Goods: |
|
|
|
|
Agro Chemicals |
M.T./ K.L. |
-- |
6,400 |
|
Pigments for Coating and inks |
M.T./ K.L. |
-- |
1,560 |
|
Isocyanate- Others**** |
M.T./ K.L. |
-- |
7,672 |
|
Other Chemicals**** |
M.T./ K.L. |
-- |
24,283 |
Note:
*** Production facility of amalgamating
company at Navi Mumbai, Mangalore,
**** Includes trading activity of amalgamating
company.
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· Citibank N.A. · Deutsche Bank AG · The Hongkong and Shanghai Banking Corporation Limited · HDFC Bank Limited · BNP Paribas |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address: |
Lodha Excelus, 1st
Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai – 400 011,
Maharashtra, India |
|
|
|
|
Internal Auditors : |
|
|
Name : |
Mahajana and Aibara Chartered Accountants |
|
Address: |
1, Chawla House, 62, Wodehouse Road, Colaba, Mumbai – 400 005,
Maharashtra, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
R. Nanabhoy and Company Cost Accountants |
|
Address: |
Jer Mansion, 70, August Kranti Marg, Mumbai – 400036, Maharashtra,
India |
|
|
|
|
Solicitors 1: |
|
|
Name: |
Crawlord Bayley and Company Advocates and Solicitors |
|
Address: |
State Bank Building, N.G.N. Vaidya Marg, Mumbai – 400023, Maharashtra,
India |
|
|
|
|
Solicitors 2: |
|
|
Name: |
Udwadia Udeshi and Argus Partners Solicitors and Advocates |
|
Address: |
Elphinstone House, 1st Floor, 17, Murzban Road, Mumbai –
400001, Maharashtra, India |
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|
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Ultimate Holding
Company: (As on 31.03.2013) |
BASF Societas Europaea (‘SE’) |
|
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|
Fellow Subsidiaries : (As on 31.03.2013) |
· BASF - YPC Company Limited · BASF Kanoo Gulf FZE · BASF (China) Company Limited · BASF Kanoo Polyurethanes LLC · BASF (Malaysia) Sdn. Bhd. · BASF Lanka (Private) Limited · BASF (Thai) Limited · BASF Mexicana S.A. DE C.V. · BASF A/S · BASF Nederland B.V. · BASF Agro B.V. · BASF Oy · BASF Agro B.V. Arnhem (NL) · BASF Pakistan (Private) Limited · BASF Agrochemical Products B.V. · BASF Paper Chemicals (Jiangsu) Company, Limited · BASF Antwerpen N.V. · BASF Performance Products plc · BASF Asia-Pacific Service Centre Sdn. Bhd. · BASF Personal Care and Nutrition GmbH · BASF Australia Limited · BASF Peruana S.A. · BASF Auxiliary Chemicals Company Limited · BASF Petronas Chemicals Sdn. Bhd. · BASF Bangladesh Limited · BASF Pharma (Evionnaz) SA · BASF Beauty Care Solutions France S.A.S. · BASF Philippines Inc · BASF Belgium Coordination Center Comm. V. · BASF Plant Science Company GmbH · BASF Canada Inc. BASF PLC · BASF Care Chemicals (Shanghai) Company Limited · BASF Poliuretani Italia SpA · BASF Catalysts India Private Limited · BASF Polyurethane Licensing GmbH · BASF Chemicals and Polymers Pakistan (Private) Limited · BASF Polyurethane Specialties (China) Company, Limited · BASF Chemicals Company Limited · BASF Polyurethanes (China) Company Limited · BASF Chemicals India Private Limited (Formerly known as Cognis Specialty Chemicals Private Limited) · BASF Polyurethanes (Malaysia) Sdn. Bhd. · BASF Polyurethanes (Thailand) Limited · BASF Coatings GmbH · BASF Polyurethanes GmbH · BASF Coatings Intl Trade (Shanghai) Company Limited · BASF Qingdao Pigments Company, Limited · BASF Coatings Intl Trade Company, Limited · BASF S.A. · BASF Coatings Limited · BASF Schweiz AG · BASF Coatings S.A. · BASF Shanghai Coatings Company Limited · BASF Coatings S.A.S. · BASF Singapore Pte. Limited · BASF Coatings Spa · BASF South Africa (PTY) Limited · BASF Color Solutions Germany GmbH · BASF South East Asia Pte Limited · BASF Company Limited · BASF Taiwan Limited · BASF Construction Chemical (China) Company, Limited · BASF UK Limited · BASF Construction Chemicals (UK) Limited · BASF Vietnam Company Limited · BASF Construction Chemicals Espana S.L. · BASF Vitamins Company Limited · BASF Construction Chemicals Europe AG · BASF Yapi Kimyasallari SAN. A.S. · BASF Construction Chemicals France S.A.S. · BTC Europe GmbH · BASF Construction Chemicals GmbH · BASF Japan Limited · BASF Construction Chemicals Italia Spa · Elastogran Kanoo Polyurethane Systems LLC · BASF Construction Chemicals UAE LLC · Cognis Australia Pty. Limited · BASF Construction Polymers GmbH · Cognis Taiwan Limited · BASF Construction Systems (China) Company Limited · Construction Research and Technology GmbH · BASF Corporation · K+S Aktiengesellschaft · BASF East Asia Regional Headquarters Limited · K+S Kali GmbH · BASF Espanola S.L. P.T. · BASF Care Chemicals Indonesia · BASF FZE P.T. · BASF Indonesia · BASF Gao-Qiao Performance Chemicals (Shanghai Co Limited) · PCI Augsburg GmbH · BASF Grenzach GmbH · PolyAd Services GmbH · BASF Health and Care Products France S.A.S. · Shanghai MBT and SCG High-tech Construction Chemicals Company Limited · BASF Hong Kong Limited · Shanghai BASF Polyurethane Company, Limited · BASF INOAC Polyurethanes Limited · Styrolution GmbH · BASF Intertrade (Shanghai) Company Limited · Styrolution India Private Limited · BASF Iran (PJS) Company · Styrolution South East Asia Pte. Limited · BASF IT Services Holding GmbH · Watson Bowman ACME Corp · BASF Italia Spa |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : NOT AVAILABLE
Issued, Subscribed & Paid-up Capital : Rs.432.900 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 |
432.900 |
432.900 |
432.900 |
|
(b) Reserves & Surplus |
12068.800 |
10992.600 |
10054.300 |
|
(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) |
12501.700 |
11425.500 |
10487.200 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
7417.600 |
2582.700 |
203.800 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
9.300 |
1.800 |
|
(c) Other long term liabilities |
2271.200 |
509.700 |
489.900 |
|
(d) Long-term provisions |
326.800 |
286.000 |
201.800 |
|
Total Non-current Liabilities (3) |
10015.600 |
3387.700 |
897.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3133.300 |
1011.800 |
1545.100 |
|
(b) Trade payables |
11627.200 |
9426.800 |
6647.700 |
|
(c) Other current
liabilities |
2692.500 |
2460.700 |
2060.700 |
|
(d) Short-term provisions |
374.100 |
344.100 |
297.400 |
|
Total Current Liabilities (4) |
17827.100 |
13243.400 |
10550.900 |
|
|
|
|
|
|
TOTAL |
40344.400 |
28056.600 |
21935.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4118.200 |
3873.500 |
|
(ii) Intangible Assets |
|
235.800 |
58.500 |
|
(iii) Capital
work-in-progress |
13182.200 |
3193.200 |
838.700 |
|
(iv)
Intangible assets under development (ERP software) |
0.000 |
0.000 |
114.700 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
10.400 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1790.500 |
1772.600 |
1071.800 |
|
(e) Other Non-current assets |
1387.400 |
675.100 |
39.700 |
|
Total Non-Current Assets |
16370.500 |
9994.900 |
5996.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11460.100 |
8952.500 |
7455.200 |
|
(c) Trade receivables |
8597.600 |
6815.300 |
6248.500 |
|
(d) Cash and cash
equivalents |
150.600 |
155.500 |
339.100 |
|
(e) Short-term loans and advances |
3257.500 |
2080.000 |
1845.500 |
|
(f) Other current assets |
508.100 |
58.400 |
50.200 |
|
Total Current Assets |
23973.900 |
18061.700 |
15938.500 |
|
|
|
|
|
|
TOTAL |
40344.400 |
28056.600 |
21935.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
44298.9 |
39406.300 |
35159.400 |
|
|
|
Other Income |
78.3 |
39.200 |
51.100 |
|
|
|
TOTAL (A) |
44377.200 |
39445.500 |
35210.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
22315.800 |
18460.100 |
17626.100 |
|
|
|
Purchase of traded goods |
10606.400 |
10483.300 |
7916.600 |
|
|
|
Changes in inventories |
-1578.300 |
(922.700) |
(197.500) |
|
|
|
Employee benefits expenses |
3298.800 |
2929.900 |
2500.600 |
|
|
|
Other expenses |
6814.300 |
5936.200 |
5214.100 |
|
|
|
Exceptional item |
104.300 |
95.400 |
0.000 |
|
|
|
TOTAL (B) |
41561.300 |
36982.200 |
33059.900 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2815.900 |
2463.300 |
2150.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
161.300 |
171.200 |
136.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2654.600 |
2292.100 |
2014.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
711.000 |
601.800 |
517.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1943.600 |
1690.300 |
1497.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
664.900 |
549.500 |
488.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1278.700 |
1140.800 |
1008.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
NA |
808.000 |
808.000 |
|
|
|
|
|
|
|
|
|
Add |
Addition
on account of amalgamation |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
173.100 |
173.100 |
|
|
|
Tax on Proposed Dividend |
NA |
29.400 |
28.100 |
|
|
|
Transfer to General Reserve |
NA |
936.300 |
807.400 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
810.000 |
808.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods
calculated on FOB basis [Excludes Rupee
Exports to Nepal and Bhutan – (2013: Rs.72.400
millions, 2012: Rs.100.500 millions and 2011: Rs.57.300 millions)] |
NA |
2604.400 |
2129.600 |
|
|
|
Indent
Commission/ Technical/ Service charges |
NA |
1702.500 |
1225.300 |
|
|
|
Others
(Freight/Insurance/Claims) |
NA |
70.600 |
53.800 |
|
|
TOTAL EARNINGS |
NA |
4377.500 |
3408.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
12076.100 |
11889.600 |
|
|
|
Capital Goods |
NA |
211.200 |
444.200 |
|
|
|
Components and Spare Parts |
NA |
5.600 |
6.400 |
|
|
|
Traded Goods |
NA |
5695.300 |
4373.200 |
|
|
TOTAL IMPORTS |
NA |
17988.200 |
16713.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
26.35 |
23.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.88 |
2.89 |
2.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.39 |
4.29 |
4.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.16 |
6.80 |
7.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.15 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.84 |
0.31 |
0.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.36 |
1.51 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
432.900 |
432.900 |
432.900 |
|
Reserves & Surplus |
10054.300 |
10992.600 |
12068.800 |
|
Net
worth |
10487.200 |
11425.500 |
12501.700 |
|
|
|
|
|
|
long-term borrowings |
203.800 |
2582.700 |
7417.600 |
|
Short term borrowings |
1545.100 |
1011.800 |
3133.300 |
|
Total
borrowings |
1748.900 |
3594.500 |
10550.900 |
|
Debt/Equity
ratio |
0.167 |
0.315 |
0.844 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
35159.400 |
39406.300 |
44298.900 |
|
|
|
12.079 |
12.416 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
35159.400 |
39406.300 |
44298.900 |
|
Profit |
1008.600 |
1140.800 |
1278.700 |
|
|
2.87% |
2.89% |
2.89% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
No |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF BOMBAY |
|||||||
|
BENCH:- BOMBAY |
|||||||
|
Lodging No:- |
AAPL/226/2012 |
Failing Date:- |
31/03/2012 |
Reg. No.:- |
APP/432/2012 |
Reg. Date:- |
06/08/2012 |
|
|
|||||||
|
Lodging No.: ARBPL/282/2008 |
|||||||
|
|
|||||||
|
Petitioner:- |
LANDCOM PROPERTY PRIVATE LIMITED |
Respondent:- |
BASF INDIA LTD. |
||||
|
Petn.Adv:- |
THAKORDAS MADGAVKAR (0) |
Resp.Adv.:- |
UDWADIA UDESHI AND ARGUS PARTNERS |
||||
|
District:- |
MUMBAI |
||||||
|
|
|||||||
|
Bench:- |
DIVISION |
Category:- |
APPEALS |
||||
|
Status:- |
Admitted (Unready) |
Stage:- |
FOR CIRCULATION (ORIGINAL SIDE MATTERS) |
||||
|
Last Date:- |
02/04/2013 |
||||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE DR. D.Y. CHANDRACHUD HON’BLE SHRI JUSTICE A.A. SAYED |
||||||
|
|
|
||||||
|
Act:- |
C.P.C. (Non-Interlocutory Order) |
||||||
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80056920 |
15/07/2000 |
10,000,000.00 |
ICICI BANK
LIMITED |
215, FREE PRESS
HOUSE, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM BORROWINGS |
|
|
Term Loans from Related parties |
|
|
– External commercial
borrowings from BASF Constructions Chemicals GmbH* |
0.000 |
|
– External
commercial borrowings from BASF SE** |
109.900 |
|
– External
commercial borrowings from BASF Belgium Coordination Center Comm. V.*** |
2472.800 |
|
SHORT TERM
BORROWINGS |
|
|
Cash credit and
overdraft facilities from bank (Cash credit and overdraft facilities from banks carry interest ranging
from 9% to 11% pa commutated on daily basis on the actual amount utilised and
is repayable on demand.) |
1011.800 |
|
|
|
|
TOTAL
|
1011.800 |
Long term borrowings
Terms of repayment
* Repayable in two
equal installments of USD 2 million due on 14th June 2012 and 2nd
November 2012 respectively. Interest is payable half yearly on 31st
March and 30th September at LIBOR plus 0.325%.
** Repayable in
two equal installments of USD 2 million each due on 17th August 2013
and 14th December 2014. Interest is payable half yearly on 31st
March and 30th September at LIBOR plus 0.325%.
*** USD 30 million
repayable on 10th August 2017 and USD 15 million on 15th
January 2018. Interest is payable half yearly on 15th June and 15th
December at 4.93%.
SEGMENT
INFORMATION:
Details of type of
products included in each segment —
— Agricultural Solution – includes
Agrochemicals. Agricultural Solution is seasonal in nature.
— Performance Products – Tanning
agents, Leather Chemicals, Textile Chemicals, Dispersion Chemicals,
Specialty
Chemicals and high-value fine chemicals for the food, pharmaceuticals, animal
feed and cosmetics industries.
— Plastics – Expandable Polystyrene
(EPS), Engineering Plastics and Polyurethanes.
— Chemicals – Chemicals includes
inorganic chemicals, intermediates and petrochemicals.
— Functional Solution – Functional
Solution includes catalysts, coatings and construction chemicals.
— Others – includes technical and
service charges.
PURCHASE OF
SPECIALTY CHEMICALS BUSINESS OF BASF CHEMICALS INDIA PRIVATE LIMITED (FORMERLY
KNOWN AS COGNIS SPECIALTY CHEMICALS PRIVATE LIMITED)
Pursuant to an
Agreement entered into between BASF India Limited and Cognis Specialty
Chemicals Private Limited (‘Cognis’), the specialty chemicals business of
Cognis was acquired from 1st July 2011 for consideration of Rs.134.000
millions. The assets and liabilities of Cognis have been taken over at fair
value as determined by an independent valuer and the difference between the
fair value of the net assets purchased over the consideration paid aggregating
to Rs.68.800 millions has been accounted as Goodwill in the previous year.
AMALGAMATION OF
BASF COATINGS (INDIA) PRIVATE LIMITED (BCIN), BASF CONSTRUCTION CHEMICALS
(INDIA) PRIVATE LIMITED (BCC) AND BASF POLYURETHANES INDIA LIMITED (BPIL) WITH
BASF INDIA LIMITED (BIL OR THE COMPANY)
Pursuant to the
Scheme of Amalgamation (‘the scheme’) as approved in the court convened
shareholder meeting held on 3rd November, 2010 and subsequently
sanctioned by the Honourable High Court of Bombay vide its order dated 14th
January, 2011, BCIN, BCC, BPIL (wholly owned subsidiary of the Company) (collectively
referred to as the amalgamating companies) were merged with the Company. The
amalgamating companies were engaged in the business of manufacturing and
trading of resins, thinners and varnishes, building and construction materials
and polyurethane systems house and polyesterols.
As provided in the
Scheme of Amalgamation, 619,589 equity shares of BIL (representing 1.43% of
equity share capital as at 31st March, 2011) were issued against 37,175,399
shares of BCIN (representing 100% of equity share capital as at 1st
April, 2010) and 1,896,064 equity shares of BIL (representing 4.38% of equity
share capital as at 31st March, 2011) were issued against 2,464,885
shares of BCC (representing 100% of equity share capital as at 1st
April, 2010). 9,000,000 equity shares (representing 100% of equity share
capital as at 1st April, 2010 of BPIL) and BIL’s investment in such equity
shares held by the Company were cancelled. Accordingly 2,515,653 equity shares
of Rs. 10/- each fully paid up were issued to the equity share holders of the
BCIN and BCC without payment being received in cash.
As per the Scheme
of Amalgamation, the ‘Appointed Date’ is 1st April, 2010. The
amalgamation was accounted under the “pooling of interests” method as
prescribed by Accounting Standard 14 on “Accounting for Amalgamations”.
Accordingly:
(i) All the assets
and liabilities of BCIN, BCC and BPIL were transferred and vested in the
Company at book values with effect from 1st April, 2010. The
reserves of the amalgamating companies appear in the same form in the financial
statements of the Company.
(ii) As specified
in the scheme of amalgamation, the difference between the amount recorded as
share capital issued (Rs.25.200 millions) and the amount of share capital of
the amalgamating companies (Rs.396.400 millions) aggregating to Rs.371.200
millions was adjusted in amalgamation reserves.
(iii) The book
values of the intercompany balances and holdings were cancelled.
CONTINGENT LIABILITIES:
|
Nature |
31.03.2013 (Rs. in Millions) |
|
Contingent
Liabilities not Provided for |
|
|
(a) Claim against the Company not acknowledged as debt |
24.100 |
|
In respect of which the Company has counterclaim |
68.700 |
|
(b) Demand for taxes
and duties in respect of which the company has preferred appeals with
appropriate authority |
|
|
a. Income Tax |
262.800 |
|
b. Customs, Excise, Service Tax and Sales Tax |
174.800 |
FIXED ASSETS:
Tangible Assets
·
·
·
Plant
and Machinery and Computers
·
Furniture
and Fixtures
·
Vehicles
·
Office
Equipment
Intangible Assets
·
Software
·
Goodwill
WEBSITE DETAILS:
PRESS RELEASE
BASF INDIA LIMITED IMPROVES SALES IN Q3 2013
Mumbai, India – January 16, 2014 – BASF India Limited (BSE code: 500042) registered sales of Rs. 9462.000 million for the quarter ended December 31, 2013 as compared to Rs. 8213.000 million in the corresponding quarter of the previous year; an increase of 15%.
The Company’s Profit Before Tax stood at Rs. 16.600 million for the quarter ended December 31, 2013 as compared to Rs. 14.800 million in the corresponding quarter of the previous year, an increase of 12%. Profit After Tax stood at Rs. 10.700 million in the current quarter as compared to Rs. 9.800 million posted in the corresponding quarter of the previous year; representing an increase of 9%.
"In the quarter ended December 2013, our results were driven by strong export demand, mainly for our Performance Products segment where we brought new investments on-stream during the current business year”, said Dr. Raman Ramachandran, Chairman and Managing Director, BASF India Limited.
For the nine months period of April to December 2013, the Company registered sales of Rs. 33612.000 million as compared to Rs. 31,197 million in the corresponding period of the previous year; an increase of 8%.
Profit Before Tax stood at Rs. 1843.000 million for the nine months period of April to December 2013 as compared to Rs. 1493.000 million in the corresponding period of the previous year, an increase of 23%. Profit After Tax stood at Rs. 1213.000 million for the nine months period of April to December 2013 as compared to Rs. 1008.000 million for the corresponding period of previous year; an increase of 20%.
About BASF in India
BASF has successfully partnered India’s progress for over a century, with 13 out of 14 global businesses being present in India today. BASF in India maintains excellent performance in environment, health and safety, in line with BASF global and internationally accepted standards. On the social front, our community development activities focus on relief and rehabilitation, women's empowerment, education, and improving governance standards. BASF in India has 2,157 employees at nine production sites, 8 sales offices and two R&D centers. In 2012, BASF registered sales of €1.14 billion to customers in India.
BASF Q4 NET SOARS 66% TO RS.133.000 MILLIONS; SHARES RALLY
April 30, 2013
Chemical producer BASF India's fourth quarter (January-March)
net profit jumped 66.25 percent year-on-year to Rs.133.000 Millions, pushing
shares three percent higher. Meanwhile, net sales increased 7.5 percent to
Rs.8190.000 Millions from Rs.7620.000 Millions Y-o-Y. The stock gained 3.10
percent to close at Rs 583.85 amid large volumes on Bombay Stock Exchange.
Trading volumes moved up 17 times to 51,299 equity shares as compared to its
five-day average of 3,018 shares.
BASF INDIA APPOINTS RAMAN RAMACHANDRAN AS CMD
BASF India at its meeting held on September 30, 2013, appointed Dr. Raman Ramachandran as the Chairman and Managing Director of the Company with effect from October 01, 2013, subject to the approval of the Central Government and the shareholders of the Company.
BASF India Limited has informed BSE that by mutual consent, Mr. Prasad Chandran has relinquished his position as the Chairman and Managing Director of the Company with effect from the close of business hours as on September 30, 2013. The Board placed on record its appreciation and gratitude to Mr. Prasad Chandran for 17 years of distinguished service including 13 years as the Chairman and Managing Director of the Company. The Board of Directors of the Company at their meeting held on September 30, 2013, appointed Dr. Raman Ramachandran as the Chairman and Managing Director of the Company with effect from October 01, 2013, subject to the approval of the Central Government and the shareholders of the Company.
BASF INDIA
LAUNCHES FINE CHEMICAL CATALYSTS PRODUCTION LINE IN MANGALORE, INDIA
BASF’s first fine chemical catalysts production line and product development laboratory in Asia Pacific
Supports growth of Indian fine chemical industry
Mangalore, India – October 17, 2013 – BASF India Limited today celebrated the launch of its precious metal-based fine chemical catalysts production plant and product development laboratory at the Company’s operating site in Mangalore, India. The plant is BASF’s first precious metal- based fine chemical catalysts manufacturing and development operation in the Asia Pacific region.
The catalysts manufactured at the Mangalore plant will allow BASF’s customers to produce fine chemicals including active pharmaceutical ingredients (API), agrochemicals, nutrition components and flavors and fragrances. API and agrochemicals remain critical to the production of new and life-saving drugs and to feeding the world’s increasing population.
“BASF is an industry leader in fine chemical catalysts manufacturing and development and we are delighted to establish commercial-scale operations at the Mangalore site,” said Chris Wai, Vice President, Production & Sales, Asia Pacific, Process Catalysts and Technologies, BASF. “We have extensive experience supporting fine chemical producers around the globe, and we look forward to providing high-quality catalyst products and technologies to meet the needs of the fast-growing Indian marketplace.”
“We see great market potential in India and the region. The start-up of the facility in Mangalore, India, will allow us to respond to customers even quicker and further enhance our efficiency of logistics and supply of fine chemical products across the country,” said Dr. Raman Ramachandran, Chairman, BASF Companies in India & Head South Asia.
The Mangalore site is BASF’s largest manufacturing site in India and in South Asia. Operational since 1996, it is currently engaged in the production of performance chemicals, dispersions and paper chemicals, automotive coatings, coil coatings and construction chemicals. In addition to the Mangalore site, BASF produces precious metal-based fine chemical catalysts at its operating facilities in Rome, Italy, and Seneca, South Carolina.
BASF INDIA LIMITED: BASF
COMMITTED TO GROWTH IN GUJARAT
04.15.2013
Dahej chemical project gains momentum
Start of production on schedule for early 2014
Site to employ 250 people upon completion
Dahej/Mumbai, India - April 15, 2013 - BASF has completed
major construction work at its future chemical production site in Dahej, Gujarat.
The site will employ around 250 people upon completion, primarily in operations
and production. It will also generate indirect job opportunities in the region
for contractors and service providers.
The INR 10000.000 millions project, which broke ground one year ago,
marks BASF's single largest investment in India. It will strengthen the company's support to
key industries such as appliances, footwear, automotive, construction,
architectural coatings and personal care, as well as paper.
Speaking about the project development, Mr. Prasad Chandran,
Chairman, BASF Companies in India and Head South Asia, said, "We are
committed to ensuring that this project contributes to the growth and development
of the local industry, while maintaining BASF's excellent global standards. The
new site will strengthen our position in important northern and western markets
and also complement the existing manufacturing set up in Mangalore, Ankleshwar
and Thane."
Earthworks and foundation work have now been completed at the site.
Infrastructure project and plant structures including the administration
building, underground pipelines, warehouses, water tanks and plant buildings are
taking shape. Utilities like steam, water and electricity will be installed
step-by-step. This also includes waste water, thermal oxidizer and other
amenities.
The project has undergone a thorough examination on all aspects of
environment, health and safety by internal experts and local authorities. The
site's advanced design takes advantage of the latest technologies from BASF
facilities
around the world. BASF has been successful in maintaining a zero lost-time
Injury record at the site.
About BASF in
India
BASF has successfully partnered India's progress for over a
century, with all global businesses maintaining a local presence in India
today, except for oil and gas. BASF in India maintains excellent performance in
environment, health and safety, in line with BASF global and internationally
accepted standards. On the social front, our community development activities
focus on relief and rehabilitation, women's empowerment, education, and
improving governance standards. BASF in India has 2,157 employees at nine production
sites, 8 sales offices and two R and D centers. In 2012, BASF registered sales of 1.14
billion to customers in India.
About BASF
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of 72.1 billion in 2012 and more than 110,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN)
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.60.14 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
78 |
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.