MIRA INFORM REPORT
|
Report Date : |
18.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHARDA CROPCHEM LIMITED |
|
|
|
|
Formerly Known
As : |
SHARDA CROPCHEM PRIVATE LIMITED SHARDA WORLDWIDE EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Domnic Holm, 29th Road, Bandra (West), Mumbai - 400050,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.03.2004 |
|
|
|
|
Com. Reg. No.: |
11-145007 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 902.205 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2004PLC145007 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS36859E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS0137P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Marketing and Distribution of a wide range of
formulations and generic active ingredients. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 17960000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects healthy financial risk profile marked by strong liquidity
and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered for normal 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.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making
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 (Tel. No.: 91-22-66782800)
LOCATIONS
|
Registered/ Corporate Office : |
Domnic Holm, 29th Road, Bandra (West), Mumbai - 400050,
Maharashtra, India |
|
Tel. No. : |
91-22-66782800 |
|
Fax No. : |
91-22-66782828/ 66782808 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 26.08.2013
|
Name : |
Mr. Ramprakash Vilasrai Bubna |
|
Designation : |
Managing Director |
|
Address : |
501, Pleasant Park, 5th Floor, 24th Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1946 |
|
Qualification : |
B.Tech |
|
Date of Appointment : |
01.01.2014 |
|
PAN No.: |
AACPB6260D |
|
DIN No. : |
00136568 |
|
|
|
|
Name : |
Mrs. Sharda Ramprakash Bubna |
|
Designation : |
Whole Time Director |
|
Address : |
501, Pleasant Park, 5th Floor, 24th Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
04.05.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.01.2014 |
|
PAN No. : |
AACPB5921B |
|
DIN No. : |
00136760 |
|
|
|
|
Name : |
Mr. Ashish Ramprakash Bubna |
|
Designation : |
Director |
|
Address : |
501, Pleasant Park, 5th Floor, 24th Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1972 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.01.2014 |
|
PAN No. : |
AACPB5507B |
|
DIN No. : |
00945147 |
|
|
|
|
Name : |
Mr. Manish Ramprakash Bubna |
|
Designation : |
Director |
|
Address : |
501, Pleasant Park, 5th Floor, 24th Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1974 |
|
Qualification : |
B.Tech |
|
Date of Appointment : |
01.01.2014 |
|
PAN No. : |
AAAPB9774C |
|
DIN No. : |
00137394 |
|
|
|
|
Name : |
Mrs. Seema Ashish Bubna |
|
Designation : |
Director |
|
Address : |
501, Pleasant Park, 5th Floor, 24th Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
21.11.1974 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
14.03.2008 |
|
PAN No. : |
AAIPB3807G |
|
DIN No. : |
00592696 |
|
|
|
|
Name : |
Mr. Vishal Kirti Keshav Marwaha |
|
Designation : |
Nominee director |
|
Address : |
C-5/25, Vasant Kunj, New Delhi – 110070, India |
|
Date of Birth/Age : |
26.11.1963 |
|
Qualification : |
B.Com, ACA |
|
Date of Appointment : |
14.03.2008 |
|
DIN No. : |
00164204 |
|
|
|
|
Name : |
Mr. Swaminathan Sundararajan Mittur |
|
Designation : |
Director |
|
Address : |
Flat 11, 248, Aswarooda, T.T.K. Salai, Alwarpet, Chennai – 600004, Tamilnadu, India |
|
Date of Birth/Age : |
15.03.1950 |
|
Qualification : |
Post-Graduate in Economics |
|
Date of Appointment : |
26.07.2011 |
|
DIN No. : |
00169775 |
|
|
|
|
Name : |
Mrs. Urvashi Saxena |
|
Designation : |
Director |
|
Address : |
2602, Light Bridge, Hiranandani Meadows, Gladys Alwares Road, Thane (West) – 400610, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1945 |
|
Qualification : |
L.L.B. |
|
Date of Appointment : |
26.07.2011 |
|
DIN No. : |
02021303 |
|
|
|
|
Name : |
Mr. Daniel Alexander Karl Porat |
|
Designation : |
Director |
|
Address : |
23, Be’eri Street, Tel Aviv, 6423207, Israel |
|
Date of Birth/Age : |
23.01.1951 |
|
Qualification : |
M.B.A. |
|
Date of Appointment : |
24.10.2011 |
|
DIN No. : |
05154812 |
KEY EXECUTIVES
|
Name : |
Mr. Jetkin Gutka |
|
Designation : |
Secretary |
|
Address : |
E-2, Juhu Apartment, Juhu Road, Santacruz (West), Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
13.07.1987 |
|
Date of Appointment : |
23.02.2011 |
|
PAN No.: |
ALEPG6017E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.08.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Ramprakash V. Bubna |
18270000 |
20.25 |
|
Sharda R. Bubna |
18270000 |
20.25 |
|
Ashish R. Bubna |
15180000 |
16.83 |
|
Manish R. Bubna |
15180000 |
16.83 |
|
Anisha M. Bubna Jointly with Manish R. Bubna |
4500000 |
4.99 |
|
Seema A. Bubna Jointly with Ashish R. Bubna |
4500000 |
4.99 |
|
HEP Mauritius Limited, Mauritius |
14320495 |
15.87 |
|
Total |
90220495 |
100.00 |
As on 26.08.2013
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 |
15.87 |
|
Directors or relatives of Directors |
84.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Marketing and Distribution of a wide range
of formulations and generic active ingredients. |
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
· Union Bank of India, Overseas Branch, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400021, Maharashtra, India · Standard Chartered Bank, 90, M G Road,, Fort, Mumbai - 400001, Maharashtra, India |
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||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9180N |
|
|
|
|
Subsidiary Company
: |
· Sharda Spain · Sharda Hungary Kft · Sharzam Limited · Sharda Ukraine LLC · Sharda Polska sp. Z.O.O. · Sharda Peru SAC · Sharda Del Ecuador CIA Ltda · Sharda International DMCC · Axis Crop Science Private Limited CIN No.: U01100MH2009PTC189472 · Sharda Do Brazil Commercio De Produtos Quimicos E Agroquimicos LTDA · Sharda Balkan Agrochemicals Limited · Sharda Costa Rica SA · Sharda Swiss SARL · Sharda De Guatemala S.A. · Sharda Hellas Agrochemicals Limited · Shardarus LLC · Shardaserb DO.O · Sharda Spain SL · Sharda Italia SRL · Sharda USA LLC · Shardacan Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1050.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,220,495 |
Equity Shares |
Rs.10/- each |
Rs. 902.205 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 |
902.205 |
902.205 |
180.441 |
|
(b) Reserves & Surplus |
3587.269 |
2921.407 |
1725.384 |
|
(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) |
4489.474 |
3823.612 |
1905.825 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term Borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred Tax Liabilities (Net) |
69.093 |
0.000 |
0.000 |
|
(c) Other Long Term
Liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
Provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
69.093 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short Term
Borrowings |
2.154 |
26.307 |
4.785 |
|
(b) Trade
Payables |
1659.798 |
1699.602 |
973.080 |
|
(c) Other
Current Liabilities |
649.313 |
592.610 |
509.248 |
|
(d) Short-term
Provisions |
105.987 |
123.525 |
18.172 |
|
Total Current
Liabilities (4) |
2417.252 |
2442.044 |
1505.285 |
|
|
|
|
|
|
TOTAL |
6975.819 |
6265.656 |
3411.110 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
12.799 |
12.787 |
10.541 |
|
(ii) Intangible
Assets |
627.724 |
633.974 |
856.682 |
|
(iii)
Capital Work-in-Progress |
883.910 |
630.596 |
315.777 |
|
(iv)
Intangible assets under Development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
56.940 |
48.423 |
13.139 |
|
(c) Deferred Tax Assets (net) |
0.000 |
61.823 |
11.480 |
|
(d) Long-term Loan and Advances |
137.816 |
3.405 |
0.031 |
|
(e) Other
Non-current Assets |
73.979 |
29.181 |
0.000 |
|
Total Non-Current
Assets |
1793.168 |
1420.189 |
1207.650 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current Investments |
925.213 |
323.145 |
254.985 |
|
(b)
Inventories |
808.573 |
982.802 |
477.058 |
|
(c) Trade
Receivables |
2916.518 |
3162.867 |
1389.709 |
|
(d) Cash
and Cash Equivalents |
318.622 |
294.524 |
71.467 |
|
(e)
Short-term Loans and Advances |
191.561 |
76.142 |
10.241 |
|
(f) Other
Current Assets |
22.164 |
5.987 |
0.000 |
|
Total
Current Assets |
5182.651 |
4845.467 |
2203.460 |
|
|
|
|
|
|
TOTAL |
6975.819 |
6265.656 |
3411.110 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5556.930 |
|
|
|
|
|
Other Income |
218.941 |
63.049 |
|
|
|
|
TOTAL (A) |
5775.871 |
3623.200 |
2474.252 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1318.941 |
|
|
|
|
|
Purchases of Stock-in-Trade |
2336.383 |
1302.826 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(23.316) |
(111.382) |
|
|
|
|
Employees benefits expense |
56.065 |
41.994 |
|
|
|
|
Other expenses |
624.372 |
442.195 |
|
|
|
|
Prior Period Items |
0.000 |
14.430 |
|
|
|
|
TOTAL (B) |
4312.445 |
2640.642 |
1848.505 (Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
1463.426 |
982.558 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.095 |
0.085 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1463.331 |
982.473 |
625.747 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
344.271 |
387.340 |
326.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1119.060 |
595.133 |
299.634 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
348.342 |
185.348 |
99.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
770.718 |
409.785 |
199.734 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
5396.124 |
3411.600 |
2434.380 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
0.000 |
0.000 |
1731.736 |
|
|
|
Raw Materials |
1081.832 |
1175.368 |
0.000 |
|
|
TOTAL IMPORTS |
1081.832 |
1175.368 |
1731.736 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
8.54 |
4.54 |
11.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
13.34 |
11.31 |
8.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.14 |
16.72 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.54 |
10.77 |
9.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.16 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14 |
1.98 |
1.46 |
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 |
180.441 |
902.205 |
902.205 |
|
Reserves & Surplus |
1725.384 |
2921.407 |
3587.269 |
|
Net
worth |
1905.825 |
3823.612 |
4489.474 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
4.785 |
26.307 |
2.154 |
|
Total
borrowings |
4.785 |
26.307 |
2.154 |
|
Debt/Equity
ratio |
0.003 |
0.007 |
0.000 |
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) |
|
Total Income |
2474.252 |
3623.200 |
5775.871 |
|
|
|
46.436 |
59.414 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2474.252 |
3623.200 |
5775.871 |
|
Profit |
199.734 |
409.785 |
770.718 |
|
|
8.07% |
11.31% |
13.34% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES OF
LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10324025 |
12/12/2011 |
50,000,000.00 |
UNION BANK OF INDIA |
OVERSEAS BRANCH, UNION BANK BHAVAN, 239, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B28181501 |
|
2 |
90145411 |
12/12/2011 * |
1,000,000,000.00 |
UNION BANK OF INDIA |
OVERSEAS BRANCH, UNION BANK BHAVAN, 239, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B28170348 |
* Date of charge modification
OPERATIONAL
PERFORMANCE AND FUTURE OUTLOOK:
The Company continued to maintain profitable growth in the financial year ended 31st March, 2013.
The Company’s total revenue increased by 59.41% over the previous year from Rs. 3623.200 Millions in FY 2011-12 to Rs. 5775.871 Millions in FY 2012-13 mainly due to increase in Agrochemical business volumes. Sales in European continent increased by 58%, in Latin America by 22% and in North America by 136%. The net profit after tax and prior period adjustment increased from Rs. 409.785 Millions in FY 2011-12 to Rs. 770.718 Millions in FY 2012-13. Increase in profits is mainly due to improved margins, better inventory management, control on fixed costs and lower borrowings. However, increase in Personnel Expenses partially offset the savings in overall costs. The Company received 174 new registrations during the current financial year and the number of customers also increased by 149 during the current financial year.
The Company has continued its thrust on investment in registration of products in developed countries as well as other countries where agriculture is the backbone of the economy. The company strongly believes that the future of agrochemical business is in obtaining early registration of products.
FIXED ASSETS
Tangible Assets
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.60.37 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.