MIRA
INFORM REPORT
|
Report Date : |
07.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
VANTECH CHEMICALS LIMITED (w.e.f. 02.11.1995) |
|
|
|
|
Formerly Known
As : |
VANTECH CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
103, Vijaya Enclave, Plot No. 32, Srinagar Colony, Hyderabad – 500073,
Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.11.1988 |
|
|
|
|
Com. Reg. No.: |
01-009277 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.380 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110AP1988PLC009277 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of agricultural chemicals and fertilizers,
monocrotophos, cholorophy. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (38) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 560000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate trade. The rating takes into consideration moderate financial risk profile. However, trade relations are fair. Business is active. Payment are reported
to be slow but correct. The company can be considered for business dealing with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB |
|
Rating Explanation |
Have moderate risk of default |
|
Date |
November 19, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk |
|
Date |
November 19, 2013 |
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 PARTED BY
|
Name : |
Ms. Sunita |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-40-23751855 |
|
Date : |
04.03.2014 |
LOCATIONS
|
Registered / Corporate Office : |
103, Vijaya Enclave, Plot No. 32, Srinagar Colony, Hyderabad – 500073,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-23751855 / 23751877 / 23751458 |
|
Mobile No.: |
91-9866144882 (Mr. Shiva) |
|
Fax No.: |
91-40-23751452 / 23751855 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
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|
|
|
Factory : |
Khazipally Village, Jinnaram Mandal, District: Andhra Pradesh, India |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Jujjavarapu Achyuta Rama Rao |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
8-2-120/110/1/5, Flat No.201, Vijaya Residency, Road No.14, Banjara
Hills, Hyderabad – 500073, Andhra Pradesh, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
02.05.1961 |
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|
Date of Appointment : |
01.04.2008 |
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DIN No.: |
00614443 |
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Other
Directorship :
|
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|
Name : |
Mr. Divakar Atluri |
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|
Designation : |
Director |
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|
Address : |
8-3-319/11, 101, Doyen Chambers, Hyderabad – 500073, Andhra Pradesh,
India |
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|
Date of Birth/Age : |
23.05.1957 |
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|
Date of Appointment : |
31.03.1998 |
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|
DIN No.: |
00033386 |
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Other Directorship
:
|
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|
Name : |
Mrs. Jujjavarapu Vijaya Lakshmi |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
8-2-120/110/1/5, Flat No.201, Vijaya Residency, Road No.14, Banjara
Hills, Hyderabad – 500073, Andhra Pradesh, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.09.1967 |
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|
Date of Appointment : |
28.05.2009 |
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|
DIN No.: |
02693635 |
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KEY EXECUTIVES
|
Name : |
Ms. Sunita |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
|
D.
Srikanth |
20000 |
|
J.
A. Rama Rao |
535580 |
|
D.
Padmavati Devi |
10000 |
|
D.V.V.S.S.P.
Varma |
10000 |
|
D.
Sridhar |
20000 |
|
J
Shruti |
314000 |
|
J.S.R.
Rajeswara Rao |
20000 |
|
J.
Venkateswara Rao |
5000 |
|
J.
Lakshmi Tulasi |
5000 |
|
J.
Vijaya Lakshmi |
271440 |
|
Meka
Kamala Rani |
7000 |
|
D.V.V.V.D.S.R.K.
Varma |
10000 |
|
D.
Venkatapathi Raju |
10000 |
|
Atluri.
Madhulika |
100000 |
|
Jayasree
Nalla |
50000 |
|
Dr.
Rama Chandra Rao Nalla |
50000 |
|
|
|
|
Total
|
1438020 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
78.00 |
|
Other
top fifty shareholders |
22.00 |
|
|
|
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of agricultural chemicals and fertilizers,
monocrotophos, cholorophy. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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|
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No. of Employees : |
60 (Approximately) |
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|
|
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Bankers : |
·
Axis Bank Limited, SME Centre Hyderabad, 6-3-879-B, G Pulla
Reddy Building, Greenlands, Begumpet, Hyderabad - 500016, Andhra Pradesh,
India |
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Facilities : |
Note : LONG TERM
BORROWINGS Secured Loans a.
Term Loan I from Axis Bank: (Rs. In
Millions)
Securities : Secured by exclusive
first charge on the entire fixed assets both existing as well as to be
purchased out of the subject term loan
and by collateral security by way of exclusive first charge on the entire
current assets, present and future, of the Company and by personal guarantee
of some of the directors of the Company. b.
Term Loan II from Axis Bank: (Rs. In Millions)
Securities : Secured by exclusive first charge on the entire fixed assets both existing
as well as to be purchased out of the subject term loan and by collateral
security by way of exclusive first charge on the entire current assets,
present and future, of the Company and by personal guarantee of some of the
director of the Company. c.
Term Loan III from Axis Bank: (Rs. In
Millions)
Securities : Secured by exclusive
first charge on the entire fixed assets both existing as well as to be
purchased out of the subject term loan excluding vehicles and by collateral
security by way of exclusive first charge on the entire current assets,
present and future, of the Company and by personal guarantee of some of the
directors of the Company. b. Long Term Maturities of Finance Lease Obligations The particulars of minimum lease payments of vehicles acquired on
finance lease are as follows: a. Value of Assets acquired under finance lease Rs. 8.156 Millions b. Net carrying
amount, after depreciation at the end of the year Rs.7.174 Millions Minimum Lease Payments as on the date of Balance Sheet are as follows:
(Rs.
In Millions)
d. Secured by hypothecation of the vehicles acquired out of the loans. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
C K S Associates Chartered Accountants |
|
Address : |
No. 87, Nagarjuna, Road No.3, Gagan Mahal Colony, Hyderabad-500 029,
Andhra Pradesh, India |
|
PAN No.: |
AABFC2043A |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1438020 |
Equity Shares |
Rs.10/- each |
Rs.14.380 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 |
14.380 |
8.880 |
8.880 |
|
(b) Reserves & Surplus |
123.146 |
92.409 |
64.678 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
5.500 |
5.500 |
|
Total
Shareholders’ Funds (1) + (2) |
137.526 |
106.789 |
79.058 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
29.409 |
37.261 |
25.264 |
|
(b) Deferred tax liabilities (Net) |
12.672 |
10.407 |
5.980 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.154 |
2.107 |
2.095 |
|
Total Non-current Liabilities (3) |
44.235 |
49.775 |
33.339 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
62.155 |
20.115 |
15.015 |
|
(b) Trade payables |
145.525 |
103.203 |
23.756 |
|
(c) Other current
liabilities |
15.167 |
11.660 |
9.318 |
|
(d) Short-term provisions |
0.000 |
0.000 |
2.044 |
|
Total Current Liabilities (4) |
222.847 |
134.978 |
50.133 |
|
|
|
|
|
|
TOTAL |
404.608 |
291.542 |
162.530 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
153.013 |
150.796 |
71.944 |
|
(ii) Intangible Assets |
0.045 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
3.748 |
2.323 |
30.195 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.250 |
1.500 |
1.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.364 |
1.499 |
5.370 |
|
(e) Other Non-current assets |
0.466 |
0.419 |
0.000 |
|
Total Non-Current Assets |
167.886 |
156.537 |
109.009 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
59.463 |
61.208 |
25.063 |
|
(c) Trade receivables |
143.152 |
42.848 |
24.613 |
|
(d) Cash and cash
equivalents |
22.730 |
16.163 |
1.518 |
|
(e) Short-term loans and
advances |
10.282 |
13.873 |
2.149 |
|
(f) Other current assets |
1.095 |
0.913 |
0.178 |
|
Total Current Assets |
236.722 |
135.005 |
53.521 |
|
|
|
|
|
|
TOTAL |
404.608 |
291.542 |
162.530 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
785.585 |
553.319 |
358.776 |
|
|
|
Other Income |
1.069 |
0.827 |
1.264 |
|
|
|
TOTAL (A) |
786.654 |
554.146 |
360.040 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of Materials Consumed |
585.449 |
397.495 |
241.131 |
|
|
|
Employee
Benefit Expense |
21.374 |
16.877 |
15.437 |
|
|
|
Other
Expenses |
117.843 |
83.704 |
56.419 |
|
|
|
TOTAL (B) |
724.666 |
498.076 |
312.987 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
61.988 |
56.070 |
47.053 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.766 |
9.676 |
6.268 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
53.222 |
46.394 |
40.785 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.864 |
5.224 |
3.506 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
45.358 |
41.170 |
37.279 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.623 |
13.441 |
12.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
30.736 |
27.730 |
25.277 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
79.408 |
51.678 |
26.399 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
110.145 |
79.408 |
51.678 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
146.631 |
106.017 |
71.783 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
34.38 |
31.23 |
28.47 |
|
|
|
Diluted |
34.38 |
19.28 |
17.58 |
|
Expected Sales ( 2013-2014 ) : Rs.1000.000 Millions (Approximately)
The above information has been parted by Ms. Sunita (Accounts Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.91
|
5.00 |
7.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.77
|
7.44 |
10.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.38
|
14.31 |
28.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.39 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.67
|
0.54 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
1.00 |
1.07 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
8.880 |
8.880 |
14.380 |
|
Reserves & Surplus |
64.678 |
92.409 |
123.146 |
|
Share Application money
pending allotment |
5.500 |
5.500 |
0.000 |
|
Net worth |
79.058 |
106.789 |
137.526 |
|
|
|
|
|
|
long-term borrowings |
25.264 |
37.261 |
29.409 |
|
Short term borrowings |
15.015 |
20.115 |
62.155 |
|
Total
borrowings |
40.279 |
57.376 |
91.564 |
|
Debt/Equity
ratio |
0.509 |
0.537 |
0.666 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
358.776 |
553.319 |
785.585 |
|
|
|
54.224 |
41.977 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
358.776 |
553.319 |
785.585 |
|
Profit After Tax |
25.277 |
27.730 |
30.736 |
|
|
7.05% |
5.01% |
3.91% |
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 |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
--- |
|
14] |
Estimation
for coming financial year |
Yes |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
No |
|
17] |
Major
suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments
terms |
Yes |
|
20] |
Export /
Import details (if applicable) |
Yes |
|
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 |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Unsecured |
|
|
|
a. Deposits |
0.500 |
0.500 |
|
b. Other Long Term Loans and Advances |
|
|
|
1. From LIC of India |
0.000 |
7.236 |
|
2. Others |
17.227 |
11.975 |
|
3.
|
|
|
|
Total |
17.727 |
19.711 |
Note :
Long Term
Borrowings
a.
Deposits: (current and previous year)
Rate of interest:
-
12.5% p.a. payable every quarter.
Security: - Unsecured
Terms of
Repayment: - These deposits are renewed in March, 2012 and are repayable after 3
years
b.
Loans from Others
Rate of interest:
-
Interest ranges from 12 % and 15% p.a
Security: - Unsecured
Terms
of Repayment: - There are no specified terms
FINANCIAL RESULTS:
The Company has recognized liability for deferred taxation in accordance
with Accounting Standard (AS-22) on “Accounting for Taxes on Income” and has
made a provision of Rs.2.264 Millions for the financial year 2012-13.
OPERATIONS:
The Company
achieved a Gross Sales Turnover of Rs.860.566 Millions in the year 2012-13as
against Rs.550.131 Millions in the previous year representing increase in
turnover by 56.5%. The
Company earned an Income of Rs.47.658 Millions in the year 2012-13 on Job work
formulations as compared to Rs.63.191 Millions in the year 2011-12 representing
decrease of 25% in Job work Turnover.
During the year
the company has produced 4051.838 KL
of Liquid formulations, 3423.047 MT
of Wet table powders and 1370.606 MT
of Granules as against the corresponding figures of 1213.245 KL, 553.309 MT and
3639.819 MT in the previous year. The Company earned a Profit Before
Depreciation and Tax (PBDT) of Rs.53
222 Millions in
the year 2012-13 compared to Rs.46.394
Millions in 2011-12 and Profit/(Loss) After Tax (PAT) of Rs. 30.736 Millions in the year
2012-13 as compared to Rs. 27.730
Millions) in 2011-12.
The Company's
future prospects are viewed with optimism. The Company's performance during the
financial year shows satisfactory improvements. The Company's tie-up with M/s.
Zuari Industries Limited is very fruitful and is being continued for the 19th
consecutive year. The Company also tied up with Cheminova India Limited,
Coromandel Fertilizers Limited, Green Crop International Private Limited and
another major fertilizer company M/s. Paradeep Phosphates Limited., Bubhaneswar
and EI Dupon India Private Limited. The Company has successfully commissioned
expansion resulting installed capacities are grown up. they are hopeful to
achieve reasonable growth both in the turnover and in the profits during the
current year compared to earlier years.
CONTINGENT LIABILITY
Contingent Liabilities not provided for:
|
Particulars |
31.03.2013 (Rs.
in Millions) |
|
Pending High Court case on Excise Valuation |
53.323 |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10347677 |
27/03/2013 * |
161,500,000.00 |
AXIS BANK
LIMITED |
SME Centre
Hyderabad, 6-3-879-B, G Pulla Reddy Bu |
B72954332 |
|
2 |
90115986 |
26/06/2000 |
7,000,000.00 |
STATE BANK OF
INDIA |
SIB BRANCH,
SAIFABAD, HYDERABAD, Andhra Pradesh - |
- |
* Date of charge modification
FIXED ASSETS
TANGIBLE ASSETS
·
Land
·
Factory Building
·
Plant and Machinery
·
Electrical Installations
·
Furniture and Fixtures
·
Office Equipment
·
Vehicles
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 records 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.61.86 |
|
|
1 |
Rs.103.06 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
38 |
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.