MIRA
INFORM REPORT
|
Report Date : |
28.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROHM AND HAAS ( |
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Registered
Office : |
1st Floor,
Block B, Godrej IT Park, 02, Godrej, Business District, Pirojsha Nagar,
Vikhroli (West), Mumbai – 400079, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
14.03.1995 |
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Com. Reg. No.: |
11-132718 |
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Capital
Investment / Paid-up Capital : |
Rs.3259.073 Millions |
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CIN No.: [Company Identification
No.] |
U24231MH1995PTC132718 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14396E |
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PAN No.: [Permanent Account No.] |
AAACR2855F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing, trading and
marketing of 'Speciality Materials' |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “ROHM and Hass Worldwide”. It is an established company having a moderate track record. The
company has recorded some accumulated losses from its operation. However, the capital base of the company is to be strong. Trade
relations are reported to be fair. Business is active. Payments are reported
to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
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 DENIED
MANAGEMENT NON-CO-OPERATIVE (91-22-39685594)
LOCATIONS
|
Registered
Office : |
1st
Floor, Block B, Godrej IT Park, 02, Godrej, Business District, Pirojsha Nagar,
Vikhroli (West), Mumbai – 400079, Maharashtra, India |
|
Tel. No.: |
91-22-67328358 |
|
Mobile No.: |
91-9819000295
(Mr. Zafer Ansari) |
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Fax No.: |
91-22-67326069 |
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E-mail: |
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Website : |
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Area: |
Owned |
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Head Office /
Factory 1 : |
Unit I and II, 2nd
Floor, Building 1, Solitaire Corporate Park, Chakala, Andheri -Kurla Road,
Andheri (East), Mumbai – 400 093, Maharashtra, India |
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Factory 2 : |
Plot No. T-22/PT,
MIDC Taloja Industrial Area, District Raigad - 410 208, Maharashtra, India |
|
Tel. No.: |
91-22-27412476/
79//15555 |
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Fax No.: |
91-22-27410564/
67315569 |
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|
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Manufacturing
Facilities: |
Sriperumbadur, Tamilnadu, India |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Anilkumar Amarchand Gupta |
|
Designation : |
Director |
|
Address : |
Flat No. B 504, Plot No. 2 and 3, Sector 16A, Sanpada, Navi Mumbai -
400705, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1962 |
|
Date of Appointment : |
30.06.2009 |
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PAN No.: |
ABJPG0273B |
|
DIN No.: |
02188991 |
|
|
|
|
Name : |
Mr. Venkatesan Rajagopalan |
|
Designation : |
Director |
|
Address : |
D. No.14, Flat No.6, Simha Chalam Apartments, Appakkannu Street,
Royapettah, Chennai - 600014, Tamilnadu, India |
|
Date of Birth/Age : |
27.04.1954 |
|
Date of Appointment : |
30.06.2009 |
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PAN No.: |
ABSPR2999C |
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DIN No.: |
02691467 |
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|
|
|
Name : |
Mr. Belur Kirshna Murthy Sethuram |
|
Designation : |
Managing Director |
|
Address : |
Flat No.602, 6th Floor, Casablanca, New Sonoo Co-operative
Housing Society, 28th Road, Bandra (West), Mumbai - 400050,
Maharashtra, India |
|
Date of Birth/Age : |
02.04.1962 |
|
Date of Appointment : |
18.10.2011 |
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PAN No.: |
BMIPS4492R |
|
DIN No.: |
03498701 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders |
No. of Shares |
|
Rohm and Haas |
325902323 |
|
Rohm and Haas |
5000 |
|
Total |
325907323 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20278840%20_MIRA%2028-Jul-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing, trading and
marketing of 'Speciality Materials' |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
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|
|
|
Bankers : |
·
Standard Chartered Grindlays Bank Limited, ·
Citi Bank N. A. |
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered
Accountants |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai - 400 018, Maharashtra, India |
|
PAN
No. : |
AACFD4815A |
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Ultimate Holding Company: |
The Dow Chemical Company, USA |
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|
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Holding Company: |
Rohm and Haas India Investment ApS, Denmark |
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Fellow Subsidiary: |
·
ACIMA Chemical Industries Limited, Switzerland ·
Beijing Eastern Rohm and Haas Company Limited
(BERHC), China ·
Dow Agrosciences India Private Limited, India CIN: U01110MH1994PTC083566 ·
Dow Agrosciences LLC, United States ·
Dow Chemical (China) Company Limited, China ·
Dow Chemical International Private Limited, India
CIN: U24239MH1998PTC113551 ·
Dow Chemical Korea Limited, Korea ·
Dow Chemical Pacific Limited, Hong Kong ·
Dow Chemical Pacific(Singapore) Pte Limited,
Singapore ·
Dow Chemical Taiwan Limited, Taiwan ·
Dow Chemical Thailand Limited, Thailand ·
Dow Europe GmbH, Switzerland ·
Dow France S.A.S. France ·
Hampshire Chemical Corp, United State ·
PT. Rohm and Haas Indonesia ·
Rohm and Haas Japan KK ·
Rohm and Haas (China) Holding Company Limited,
China ·
Rohm and Haas (Scotland) Limited, United Kingdom ·
Rohm and Haas (UK) Limited ·
Rohm and Haas Australia Pty Limited, Australia ·
Rohm and Haas B.V. Netherlands ·
Rohm and Haas Chemical (Thailand) Limited ·
Rohm and Haas Chemicals LLC, USA, United States ·
Rohm and Haas China Inc. China ·
Rohm and Haas China Research and Development
Centre, China ·
Rohm and Haas Company ER, United States ·
Rohm and Haas Company, USA, United States ·
Rohm and Haas Electronic Materials Singapore Pte.
Limited, Singapore ·
Rohm and Haas Electronic Materials, LLC, United
States ·
Rohm and Haas Europe Services ApS, Deutsche,
Denmark ·
Rohm and Haas Europe Trading ApS - Nederland
Branch ·
Rohm and Haas Europe Trading ApS - Succursale France ·
Rohm and Haas Europe Trading ApS-Belgium Branch ·
Rohm and Haas Europe Trading ApS-Deutsche ·
Rohm and Haas Europe Trading ApS-Sede Secondaria
Italiana ·
Rohm and Haas European Trading ApS, Copenhagen,
Denmark ·
Rohm and Haas Foshan Specialty Materials Company
Limited, China ·
Rohm and Haas France S.A.S. France ·
Rohm and Haas International Trading (Shanghai)
Company Limited ·
Rohm and Haas Italia S.r.l ·
Rohm and Haas Kimyasal Urunler Uretim Dagitim ve
Ticaret A.S. ·
Rohm and Haas Korea Company Limited ·
Rohm and Haas Mexico, S. de R.L,.de C.V. ·
Rohm and Haas New Zealand Limited ·
Rohm and Haas Philipines Inc. ·
Rohm and Haas Quimica Ltda. ·
Rohm and Haas Shanghai Chemical Industry Company
Limited ·
Rohm and Haas Singapore (Pte.) Limited ·
Rohm and Haas South Africa (PTY) Limited ·
Rohm and Haas Taiwan, Inc. ·
Rohm and Haas Texas Incorporated ·
Rohm and Haas Trading ApS UK Branch ·
Rohm and Haas Vietnam Company Limited ·
UCAR Emulsion Systems FZE ·
Union Carbide Corporation |
|
|
·
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
330000000 |
Equity Shares |
Rs.10/- each |
Rs.3300.000 Millions |
|
55000000 |
Preferences Shares |
Rs.10/- each |
Rs.550.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.3850.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
325907323 |
Equity Shares |
Rs.10/- each |
Rs.3259.073 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 |
3259.073 |
3259.073 |
3259.073 |
|
(b) Reserves & Surplus |
(1031.190) |
(1232.888) |
(1018.999) |
|
(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) |
2227.883 |
2026.185 |
2240.074 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
11.947 |
13.521 |
10.405 |
|
Total Non-current Liabilities (3) |
11.947 |
13.521 |
10.405 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1329.025 |
2156.644 |
1140.000 |
|
(b) Trade payables |
2671.580 |
1905.208 |
1763.186 |
|
(c) Other current
liabilities |
112.508 |
160.092 |
163.061 |
|
(d) Short-term provisions |
25.070 |
10.704 |
14.403 |
|
Total Current Liabilities (4) |
4138.183 |
4232.648 |
3080.650 |
|
|
|
|
|
|
TOTAL |
6378.013 |
6272.354 |
5331.129 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1054.971 |
1193.824 |
1357.371 |
|
(ii) Intangible Assets |
1.273 |
1.825 |
0.000 |
|
(iii) Capital
work-in-progress |
43.040 |
49.886 |
39.373 |
|
(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 |
59.159 |
36.320 |
16.176 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1158.443 |
1281.855 |
1412.920 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1989.133 |
1697.453 |
1254.737 |
|
(c) Trade receivables |
2360.472 |
2490.177 |
1754.350 |
|
(d) Cash and cash equivalents |
84.070 |
37.107 |
167.390 |
|
(e) Short-term loans and
advances |
749.654 |
710.857 |
706.462 |
|
(f) Other current assets |
36.241 |
54.905 |
35.270 |
|
Total Current Assets |
5219.570 |
4990.499 |
3918.209 |
|
|
|
|
|
|
TOTAL |
6378.013 |
6272.354 |
5331.129 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8740.000 |
7707.500 |
6382.600 |
|
|
|
Other Income |
13.100 |
136.900 |
17.300 |
|
|
|
TOTAL |
8753.100 |
7844.400 |
6399.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
8264.000 |
7718.300 |
5906.700 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
489.100 |
126.100 |
493.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
203.100 |
152.800 |
38.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
286.000 |
(26.700) |
455.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
183.200 |
187.200 |
193.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
102.800 |
(213.900) |
262.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
102.800 |
(213.900) |
262.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
1019.000 |
(1281.000) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
1019.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
NA |
1444.800 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.31 |
0.66 |
0.77 |
|
%20PRIVATE%20LIMITED%20-%20278840%20_MIRA%2028-Jul-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20278840%20_MIRA%2028-Jul-2014_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20278840%20_MIRA%2028-Jul-2014_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.17
|
(2.73) |
4.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.18
|
(2.77) |
4.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.62
|
(3.43) |
4.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
(0.10) |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.60
|
1.06 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.18 |
1.27 |
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 |
3259.073 |
3259.073 |
3259.073 |
|
Reserves & Surplus |
(1018.999) |
(1232.888) |
(1031.190) |
|
Net
worth |
2240.074 |
2026.185 |
2227.883 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1140.000 |
2156.644 |
1329.025 |
|
Total
borrowings |
1140.000 |
2156.644 |
1329.025 |
|
Debt/Equity
ratio |
0.509 |
1.064 |
0.597 |
%20PRIVATE%20LIMITED%20-%20278840%20_MIRA%2028-Jul-2014_files/image007.gif)
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 |
6382.600 |
7707.500 |
8740.000 |
|
|
|
20.758 |
13.396 |
%20PRIVATE%20LIMITED%20-%20278840%20_MIRA%2028-Jul-2014_files/image009.gif)
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 |
6382.600 |
7707.500 |
8740.000 |
|
Profit |
262.000 |
(213.900) |
102.800 |
|
|
4.10% |
(2.78%) |
1.18% |
%20PRIVATE%20LIMITED%20-%20278840%20_MIRA%2028-Jul-2014_files/image011.gif)
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
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 |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The registered office of the company has been shifted from Corporate Park,
Unit No. 1, V. N. Purav Marg, Chembur - 400093, Mumbai, Maharashtra, India to the present address w.e.f.
02.05.2012
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from bank |
79.025 |
506.644 |
|
Loans repayable on demand |
400.000 |
0.000 |
|
Loans and advance from related parties |
850.000 |
1650.000 |
|
|
|
|
|
Total |
1329.025 |
2156.644 |
INDEX OF CHARGES
No Charges Exist for Company
COMPANY BACKGROUND
The Company was incorporated on14th March,
1995 as a private limited company. The Company is engaged in the business of manufacturing,
trading and marketing of 'Speciality Materials' and has two manufacturing
facilities at Taloja, Maharashtra and Sriperumbadur, Tamil Nadu.
FINANCIAL PERFORMANCE:
The Company
continued its excellent run in sales performance this year also. The sales at
Rs. 9550.000 millions have risen by about 14% as compared to Rs. 8408.600
millions. With the growth in sales the profit before depreciation, interest and
tax at 489.100 millions has taken a quantum leap of 4 times as compared to the
previous year.
CONTINGENT
LIABILITIES
|
Particular |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Sales tax
demands disputed in appeals (These mainly
relates to short credit allowed for tax paid, non-submission of 'C' forms, differential
tax rates and incorrect disallowance of set-off on purchase of raw
materials.) The Company is confident of successfully contesting the appeals
and does not expect the liability to crystallise |
31565648 |
62781290 |
|
Arrears of dividend
on 10% cumulative redeemable preference shares of Rs.10/- each (upto 23rd
March, 2011) (On 3rd January, 2011, the terms of 10% cumulative redeemable
preference shares had been changed from 'Redeemable' to 'Convertible at the
option of the company on or before 31st March, 2011'. The option was
excercised and accordingly the Company allotted equal number of equity shares
of Rs.10/- each at par on 23rd March, 2011) |
265742992 |
265742992 |
FIXED ASSETS
œ
Land
œ
Buildings
œ
Factory Building
œ
Plant and Equipment
œ
Furniture and Fixtures
œ
Vehicles
œ
Motor Vehicles
œ
Office Equipment
œ
Computer Equipments
œ
Other Equipments
œ
Leasehold Improvements
œ
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.