1. Summary Information
|
Country |
India |
||
|
Company Name |
SIKA INDIA
PRIVATE LIMITED |
Principal Name 1 |
Mr. Subramanian Venkataraman |
|
Status |
Moderate |
Principal Name 2 |
Mr. Peter Bruce Scott |
|
Registration # |
21-037631 |
||
|
Street Address |
620, |
||
|
Established Date |
22.06.1984 |
SIC Code |
-- |
|
Telephone# |
91-33-24466594 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-33-24688688 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Construction Chemicals |
|
|
# of employees |
Not
Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.18,884,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings – 100% |
Banking |
The
Hong Kong and Shanghai Banking Corporation Limited |
|
Public Limited Corp. |
NO |
Business Period |
30 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B
(31) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
Switzerland |
Sika AG, Switzerland |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,009,822,000 |
Current Liabilities |
683,746,000 |
|
Inventories |
392,149,000 |
Long-term Liabilities |
493,419,000 |
|
Fixed Assets |
278,619,000 |
Other Liabilities |
358,516,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,535,681,000 |
|
Invest& other Assets |
191,007,000 |
Retained Earnings |
317,032,000 |
|
|
|
Net Worth |
335,916,000 |
|
Total Assets |
1,871,597,000 |
Total Liab. & Equity |
1,871,597,000 |
|
Total Assets (Previous Year) |
1,770,799,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
3,305,803,000 |
Net Profit |
(264,480,000) |
|
Sales(Previous yr) |
3,266,280,000 |
Net Profit(Prev.yr) |
(132,529,000) |
MIRA INFORM REPORT
|
Report Date : |
26.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIKA INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
SIKA QUALCRETE PRIVATE LIMITED QUALCRETE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
620, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.06.1984 |
|
|
|
|
Com. Reg. No.: |
21-037631 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.18.884 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119WB1984PTC037631 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS13302C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS1119F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Construction Chemicals. |
|
|
|
|
No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 75000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Rating reflects below average financial performance due to losses
incurred from its operation over past 2 years. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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.
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
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 : |
Mr. Puneet Gupta |
|
Designation : |
Chief Financial Officer |
|
Email: |
|
|
Date : |
18.02.2014 |
LOCATIONS
|
Registered / Head Office : |
620, |
|
Tel. No.: |
91-33-24466594 / 6958 / 24472448 / 2449 / 2501 / /2505 /9503 / 6594 / 8480, 24582134 |
|
Fax No.: |
91-33-24688688 / 2665 / 23978688 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
601, A Wing, Infinity Tower, Mindspace Off Link Road, Malad West, Mumbai- 400064, Maharashtra, India |
|
Tel. No.: |
91-22-40384038 |
|
Fax No.: |
91-22-40384039 |
|
E-Mail : |
|
|
|
|
|
Operational Office : |
Off Link Road, Malad (West,) Mumbai – 400064, Maharashtra, India |
|
|
|
|
Factory 1 : |
Industrial Estate (New), Shed No. 1/B-5, 9, 15, 18, 19, 20 and 21, Block – D, District Nadia, Kalyani – 741235, West Bengal, India |
|
Tel No.: |
91-33-25827756 |
|
Fax No.: |
91-33-25829418 |
|
|
|
|
Factory 2 : |
L -41, Verna Industrial Estate, Verna – 403722, Salcete , Goa, India |
|
Tel. No.: |
91-832-2783144 / 6680335 / 36 / 37 / 34 |
|
Fax No.: |
91-832-2783433 / 6680341 |
|
E-Mail : |
|
|
Area : |
7280 Sq.fts |
|
Location : |
Owned (Industrial) |
|
|
|
|
Factory 3 : |
C/302, TTC Industrial Area, MIDC Pawane Village, Navi Mumbai - 400704, Maharashtra, India |
|
Tel No.: |
91-22-65162615 |
|
Fax No.: |
91-22-65131634 |
|
|
|
|
Factory 4 : |
Plot No. F-1/F-2, RIICO Industrial Estate, Bagru Extexsion -II, Bagru, District Jaipur - 302009, Rajasthan, India |
|
Tele No.: |
91-141-5123746 / 5173835 |
|
Fax No.: |
91-141-5123746 |
|
Area : |
12000 Sq.fts |
|
Location : |
Owned (Industrial) |
|
|
|
|
Factory 5 : |
23, GST Road, Pukkathurai Village, Madurantagam Taluk, Kanchipuram District, Chennai - 603308, Tamilnadu, India |
|
Tele No.: |
91-44-27565771 |
|
Fax No.: |
91-44-27565776 |
|
|
|
|
Branch Office : |
Located
at: · Ahmedabad · Chennai · Kolkata · Bangalore · Cuttack · Mumbai · Chandigarh · Hyderabad · Noida · Pune · Navi Mumbai · Siliguri · Visakhapatnam |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Subramanian Venkataraman |
||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||
|
Address : |
Flat 63, Block 1A, Widermere, 6th Floor, Off New Link, Road
Goregaon (West), Near Mega Mall, Lokhandwala, Mumbai – 400062, Maharashtra,
India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.11.1963 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
11.02.2010 |
||||||||||||||||||||||||||||||||
|
PAN No.: |
AFCPV8728B |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02889803 |
||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Chi Wo Ivan Hung |
||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||
|
Address : |
27E, Tower 1, Vista Paradiso, Mo On Shan, NT, Hongkong, China |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.01.1957 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
||||||||||||||||||||||||||||||||
|
DIN No. : |
06542305 |
||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Peter Bruce Scott |
||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||
|
Address : |
28, Delecta Avenue, Mosman, NSW, Sydney 2088 |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.06.1955 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
||||||||||||||||||||||||||||||||
|
DIN No. : |
06673538 |
||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Puneet Gupta |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Sika AG, |
1133013 |
60.00 |
|
Sika Schweiz AG, |
755342 |
40.00 |
|
Total |
1888355 |
100.00 |
As on 30.09.2013
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Construction Chemicals. |
||||||||
|
|
|
||||||||
|
Products : |
· Construction Chemicals · Sealants · Adhesive materials · Concrete Admixtures · Mortar Admixtures · Polymer Modified Cement Mortars · Epoxy Adhesive and Mortars · Protective Coatings and Impregnations · Primers · Floor Treatment and Toppings · Joint Sealing Compounds · Butyl ·
Dispersions |
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Construction Materials |
||||||||
|
Countries : |
· Nepal · Srilanka · Bangladesh |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Raw Material, Chemical and Some Trading Products. |
||||||||
|
Countries : |
· Netherland · Switzerland · Germany |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit (90 Days to 120 Days) |
||||||||
|
|
|
||||||||
|
Purchasing : |
Credit (90 Days) |
GENERAL INFORMATION
|
Suppliers : |
Himadri Chemicals Private Limited, Kolkata |
|
|
|
|
Customers : |
Wholesalers and Retailers · L & T |
|
|
|
|
No. of Employees : |
450 (Approximately) |
|
|
|
|
Bankers : |
· Indian Overseas Bank, International Business Branch, 2, Wood Street, Kolkata – 700016, West Bengal, India · The Hong Kong and Shanghai Banking Corporation Limited ·
Citi Bank N.A. ·
HDFC Bank Limited, Malad (East), Mumbai –
400097, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name: |
S.R. Batliboi and Company Chartered Accountants |
|
Address: |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-40356300 |
|
Fax No.: |
91-22-40356400 |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Holding Company : (As on 31.03.2012) |
Sika AG, Switzerland |
|
|
|
|
Fellow Subsidiaries : (As on 31.03.2012) |
· Sika Schweiz AG · Sika Deutschland GMBH · Sika Italia S.P.A. · Sika Limited, Japan · Sika Engineering Silicones · Sika Corporation, USA · Sika Technology AG · Sika Services AG · Sika Informationssysteme AG · Sika Gulf B.S.C. (C) · Sika Denmark A/S · Sika Supply Centre AG · Sika Automotive GMBH · Sika Yapi Kimyasallah A.S · Sika Sarnafil Waterproofing Sys.(Shanghai) Limited · Sika Limited , UK · Sika (Guangzhou) Trading Company Limited · Sika (Guangzhou) Limited · Sika UAE LLC · Sika Limited Dalian (China North) · Sika Portugal - Produtos Contrucao E Industria, S.A. · BV Descol · Sika China Limited Sika Liquid Plastic Sika FZCO · Sika France SA Sika CZ, s.r.o. · Sika Australia Pty Limited · Sika Osterreich GMBH · Sika Poland Sp. z.o.o. · Sumam chemicals Company · Sika Services IMEA |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,400,000 |
Equity Shares |
Rs.10/- each |
Rs. 44.000 Millions |
|
10,000 |
Preference Shares |
Rs. 100/- each |
Rs. 1.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 45.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,888,355 |
Equity Shares |
Rs.10/- each |
Rs. 18.884 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
|
18.884 |
|
(b) Reserves & Surplus |
|
|
317.032 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
335.916 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
482.459 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
15.373 |
|
Total Non-current
Liabilities (3) |
|
|
497.832 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
10.960 |
|
(b) Trade
payables |
|
|
566.182 |
|
(c) Other
current liabilities |
|
|
358.516 |
|
(d) Short-term
provisions |
|
|
102.191 |
|
Total Current
Liabilities (4) |
|
|
1037.849 |
|
|
|
|
|
|
TOTAL |
|
|
1871.597 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
243.935 |
|
(ii)
Intangible Assets |
|
|
34.684 |
|
(iii)
Capital work-in-progress |
|
|
189.440 |
|
(iv)
Intangible assets under development |
|
|
1.567 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
98.993 |
|
(e) Other
Non-current assets |
|
|
0.227 |
|
Total Non-Current
Assets |
|
|
568.846 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
392.149 |
|
(c) Trade
receivables |
|
|
694.898 |
|
(d) Cash
and cash equivalents |
|
|
46.553 |
|
(e)
Short-term loans and advances |
|
|
168.933 |
|
(f) Other
current assets |
|
|
0.218 |
|
Total
Current Assets |
|
|
1302.751 |
|
|
|
|
|
|
TOTAL |
|
|
1871.597 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
14.478 |
14.478 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
297.322 |
429.851 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
311.800 |
444.329 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
479.723 |
298.215 |
|
|
TOTAL BORROWING |
|
479.723 |
298.215 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
791.523 |
742.544 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
186.607 |
144.308 |
|
|
Capital work-in-progress |
|
206.810 |
175.658 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
39.479 |
58.414 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
432.845
|
478.788
|
|
|
Sundry Debtors |
|
656.827
|
615.043
|
|
|
Cash & Bank Balances |
|
46.859
|
32.561
|
|
|
Other Current Assets |
|
0.953
|
4.237
|
|
|
Loans & Advances |
|
200.419
|
143.297
|
|
Total
Current Assets |
|
1337.903
|
1273.926
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
558.833
|
533.595
|
|
|
Other Current Liabilities |
|
298.820
|
268.762
|
|
|
Provisions |
|
121.623
|
107.405
|
|
Total
Current Liabilities |
|
979.276
|
909.762
|
|
|
Net Current Assets |
|
358.627
|
364.164
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
791.523 |
742.544 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3305.803 |
3258.337 |
2628.610 |
|
|
|
Other Income |
12.393 |
7.943 |
140.230 |
|
|
|
TOTAL (A) |
3318.196 |
3266.280 |
2768.840 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1683.189 |
|
|
|
|
|
Purchase of stock-in-trade |
414.442 |
487.900 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
113.124 |
36.996 |
|
|
|
|
Employee benefits expense |
415.972 |
351.947 |
|
|
|
|
Other expenses |
832.139 |
837.811 |
|
|
|
|
TOTAL (B) |
3458.866 |
3323.443 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(140.670) |
(57.163) |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.029 |
26.577 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(177.699) |
(83.740) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
47.302 |
29.854 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(225.001) |
(113.594) |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39.479 |
18.935 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(264.480) |
(132.529) |
4.529 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(54.845) |
77.684 |
73.155 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(319.325) |
(54.845) |
77.684 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export (FOB basis) |
NA |
26.290 |
14.300 |
|
|
TOTAL EARNINGS |
NA |
26.290 |
14.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(162.01) |
(91.54) |
(3.13) |
|
Expected Sales (2013-2014) : Rs. 3700.000 Millions
The above information has been parted by Mr. Puneet Gupta
(Chief Financial Officer).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(7.97) |
(4.06) |
0.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(6.81) |
(3.49) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.39) |
(7.45) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.67) |
(0.36) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.47 |
1.54
|
0.67
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.37
|
1.40
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
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 |
2628.610 |
3258.337 |
3305.803 |
|
|
|
23.957 |
1.457 |
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 |
2628.610 |
3258.337 |
3305.803 |
|
Profit |
4.529 |
(132.529) |
(264.480) |
|
|
0.17% |
(4.07%) |
(8.00%) |
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 |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
|
UNSECURED LOANS |
31.03.2012 (Rs. In Millions) |
|
|
|
|
Term Loan from Banks (Foreign Currency) (From Sika AG, the Holding Company) |
238.951 |
|
Working Capital Loan from Banks (Buyer's Credit) |
0.000 |
|
Loans Repayable on Demand from Bank (The overdraft is repayable on demand and carries interest varying from 11.50% p.a. to 12.25% p.a). |
240.772 |
|
Total |
479.723 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
NATURE OF
OPERATIONS:
The Company is in the business of manufacturing and trading of Construction Chemicals with its business spread all over the country. The business is carried on with two broad segments Construction and Industry.
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
v
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.60.49 |
|
|
1 |
Rs.99.77 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
31 |
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.