MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
HITECH BIO SCIENCES INDIA LIMITED |
|
|
|
|
Registered
Office : |
C-2, Unit No.102-103, Saudamini Complex, SA No.101/1, Bhusari Colony,
Paud Road, Kothrud, Pune - 411038, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-130033 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 50.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232PN2007PLC130033 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH8625A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of API intermediates,
Probiotics, Perfume Chemicals and flavoring Products, Liaison work, etc. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 345000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a Flagship company of the “HTBS GROUP”. It is an established company having a moderate track record. The
company has recorded modest scale of business operation. The reserve of the
company seems to be low. However, the financial position seems to be improving and company has
reported better growth in its sales and net profitability during 2013. Trade relations appear to be fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with slight
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
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 DECLINED BY
|
Name : |
Mr. Mahindra Savadikar |
|
Designation : |
Finance Department |
|
Contact No.: |
91-20-67903000 |
|
Date : |
26.03.2014 |
LOCATIONS
|
Registered / Corporate Office / Research and Development Centre : |
C-2, Unit No.102-103, Saudamini Complex, SA No.101/1, Bhusari Colony,
Paud Road, Kothrud, Pune - 411038, Maharashtra, India |
|
Tel. No.: |
91-20-25285426 / 22923271 / 22923480/ 670903000 |
|
Fax No.: |
91-20-25285026 / 22923481 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
API
Manufacturing Facilities Supa-Parner, MIDC Industrial Area, Opposite Jaffa, Taluka Parner,
District Ahmednagar, Maharashtra,
India |
|
|
|
|
Factory 2 : |
Survey No.297+298, 304, 306, Plot No.6, 8 and 10, Ambadvet Industrial Estate,
Sutarwadi, Behind Datta Mandir, Post Paud, Taluka Mulshi, District
Pune-412108, Maharashtra, India |
|
Tel. No.: |
91-22-67903000 |
|
Fax No.: |
91-22-67903001 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Raghavendra Prabhakar Gaikaiwari |
|
Designation : |
Managing Director |
|
Address : |
B 11/12, Harshada Apartments, Maaganesh Colony, Paud Road, Kothrud, Pune - 411038, Maharashtra, India |
|
Date of Birth/Age : |
24.11.1965 |
|
Qualification: |
M tech, PHD |
|
Date of Appointment : |
24.04.2007 |
|
PAN No.: |
ABJPG4182B |
|
DIN No.: |
00144609 |
|
|
|
|
Name : |
Mr. Sudhir Madhusudan Gadgil |
|
Designation : |
Director |
|
Address : |
425/14, TMV Colony, TV Nagar, Pune - 411037, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1945 |
|
Qualification: |
B Tech, PHD |
|
Date of Appointment : |
24.04.2007 |
|
DIN No.: |
01555020 |
|
|
|
|
Name : |
Mrs. Vijayalaxmi Prabhakar Gaikaiwari |
|
Designation : |
Director |
|
Address : |
B 11/12, Harshada Apartments, Maaganesh Colony, Paud Road, Kothrud, Pune - 411038, Maharashtra, India |
|
Date of Birth/Age : |
30.10.1939 |
|
Date of Appointment : |
24.04.2007 |
|
PAN No.: |
AAMPG6219R |
|
DIN No.: |
01555106 |
|
|
|
|
Name : |
Dr, Shilpa Anil Wagh |
|
Designation : |
Whole-Time-Director |
|
Address : |
B2/24, Shivtara Garden, Gananjay Society, Kothrud, Pune – 411038, Maharashtra, India |
|
Date of Birth/Age : |
30.09.2013 |
|
Qualification : |
MSC, PHD |
|
Date of Appointment : |
27.10.2012 |
|
DIN No. : |
00144293 |
|
|
|
|
Name : |
Dr. Bhaskar Dattatraya Kulkarni |
|
Designation : |
Additional Director |
|
Address : |
B5 Bunglow, NCL Colony, Pune – 411008, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1949 |
|
Qualification : |
PHD Chemical Engineering |
|
Date of Appointment : |
27.10.2012 |
|
DIN No. : |
01554722 |
KEY EXECUTIVES
|
Name : |
Mr. Mahindra Savadikar |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Raghavendra Prabhakar Gaikaiwari |
3710000 |
|
Sudhir Madhusudan Gadgil |
15000 |
|
Jagdish Vinayak Gaikaiwari |
7500 |
|
Srinivas Tryambak Punde |
7500 |
|
Gundu Bahurao Pawshere |
15000 |
|
Shilpa Anil Wagh |
30000 |
|
Vijayalaxmi Prabhakar Gaikaiwari |
15000 |
|
Total |
3800000 |
Allottees as on 18.11.2013
|
Names of Allottees |
No. of Shares |
|
Satish Khanna |
114000 |
|
Total |
114000 |
|
Names of
Preference Shareholders |
No.
of Shares |
|
Jayashree Kori Jt. Rachappa Kori |
200000 |
|
JNJ Finance Company Private Limited, India |
1000000 |
|
Total |
1200000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.41 |
|
Other top fifty shareholders |
0.59 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of API intermediates,
Probiotics, Perfume Chemicals and flavoring Products, Liaison work, etc. |
||||
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||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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|
||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Erandvana Branch, Opposite SNDT Near Flyover Karve Road, Pune - 411004, Maharashtra, India HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg,
Lower Parel (West), Mumbai - 400013, Maharashtra, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
SNDA and Associates Chartered Accountant |
|
Address : |
2, Alankar Apartment, S No.26/14, Shivajinagar, Near Sakhar Sankul,
Pune -411005, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABLFS4120K |
|
|
|
|
Associates : |
· SCI – Molecules India Private Limited CIN No.: U73100PN2001PTC015987 Synergie Ecosolutions Private Limited CIN No.: U29299PN2001PTC016072 Bio - Chem Engineering Private Limited CIN No.: U29297PN2001PTC015911 |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs. 55.000 Millions |
|
1500000 |
Preference Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
TOTAL |
|
Rs. 70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3914000 |
Equity Shares |
Rs.10/- each |
Rs. 39.140
Millions |
|
1200000 |
1% Redeemable Preference Shares |
Rs.10/- each |
Rs. 12.000 Millions |
|
|
TOTAL |
|
Rs. 51.140 Millions |
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs. 55.000 Millions |
|
1500000 |
Preference Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
TOTAL |
|
Rs. 70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3800000 |
Equity Shares |
Rs.10/- each |
Rs. 38.000
Millions |
|
1200000 |
1% Redeemable Preference Shares |
Rs.10/- each |
Rs. 12.000 Millions |
|
|
TOTAL |
|
Rs. 50.000 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 |
50.000 |
49.500 |
37.500 |
|
(b) Reserves & Surplus |
36.215 |
26.658 |
19.544 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
3.000 |
3.000 |
|
Total
Shareholders’ Funds (1) + (2) |
86.215 |
79.158 |
60.044 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
24.487 |
24.358 |
53.780 |
|
(b) Deferred tax liabilities (Net) |
0.947 |
0.857 |
0.872 |
|
(c) Other long term liabilities |
9.065 |
1.492 |
0.928 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
34.499 |
26.707 |
55.580 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
13.517 |
19.064 |
24.132 |
|
(b) Trade payables |
41.257 |
41.112 |
27.560 |
|
(c) Other current
liabilities |
16.942 |
13.696 |
9.475 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
71.716 |
73.872 |
61.167 |
|
|
|
|
|
|
TOTAL |
192.430 |
179.737 |
176.791 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
80.227 |
77.807 |
85.660 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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 |
42.201 |
32.414 |
31.261 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
122.428 |
110.221 |
116.921 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.235 |
6.153 |
0.000 |
|
(b) Inventories |
14.081 |
17.113 |
11.427 |
|
(c) Trade receivables |
23.055 |
22.610 |
24.214 |
|
(d) Cash and cash
equivalents |
8.496 |
4.883 |
3.534 |
|
(e) Short-term loans and
advances |
2.514 |
0.352 |
0.125 |
|
(f) Other current assets |
21.621 |
18.405 |
20.570 |
|
Total Current Assets |
70.002 |
69.516 |
59.870 |
|
|
|
|
|
|
TOTAL |
192.430 |
179.737 |
176.791 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
127.747 |
104.392 |
94.735 |
|
|
|
Other Income |
3.347 |
3.578 |
3.257 |
|
|
|
TOTAL (A) |
131.094 |
107.970 |
97.992 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
35.771 |
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
5.303 |
(5.619) |
|
|
|
|
Employees benefits expense |
25.608 |
18.120 |
|
|
|
|
Other expenses |
35.765 |
34.771 |
|
|
|
|
TOTAL (B) |
102.447 |
79.633 |
74.183 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
28.647 |
28.337 |
23.809 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.543 |
6.535 |
3.971 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.104 |
21.802 |
19.838 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.669 |
11.256 |
11.431 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
11.435 |
10.546 |
8.407 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.378 |
3.433 |
2.620 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
9.057 |
7.113 |
5.787 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
26.658 |
19.545 |
13.758 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
35.715 |
26.658 |
19.545 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.81 |
1.90 |
1.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.91 |
6.59 |
5.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.95 |
10.10 |
8.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.94 |
5.87 |
4.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.13 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.44 |
0.55 |
1.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
0.94 |
0.98 |
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 |
37.500 |
49.500 |
50.000 |
|
Reserves & Surplus |
19.544 |
26.658 |
36.215 |
|
Share Application money pending allotment |
3.000 |
3.000 |
0.000 |
|
Net
worth |
60.044 |
79.158 |
86.215 |
|
|
|
|
|
|
long-term borrowings |
53.780 |
24.358 |
24.487 |
|
Short term borrowings |
24.132 |
19.064 |
13.517 |
|
Total
borrowings |
77.912 |
43.422 |
38.004 |
|
Debt/Equity
ratio |
1.298 |
0.549 |
0.441 |
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 |
94.735 |
104.392 |
127.747 |
|
|
|
10.194 |
22.372 |
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 |
94.735 |
104.392 |
127.747 |
|
Profit |
5.787 |
7.113 |
9.057 |
|
|
6.11% |
6.81% |
7.09% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
9.065 |
1.492 |
4.971 |
|
|
|
|
|
|
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 |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10358853 |
29/05/2012 |
5,000,000.00 |
DEPARTMENT OF BIOTECHNOLOGY |
BLOCK-2, C G O COMPLEX, LODHI ROAD, NEW DELHI, DELHI - 110003, INDIA |
B40848269 |
|
2 |
10358524 |
17/05/2012 |
5,000,000.00 |
DEPARTMENT OF BIOTECHNOLOGY |
BLOCK-2, C G O COMPLEX, LODHI ROAD, NEW DELHI, DELHI - 110003, INDIA |
B40767741 |
|
3 |
10250301 |
12/03/2014 * |
72,700,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
C00448431 |
|
4 |
10250191 |
21/09/2013 * |
72,700,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B85440378 |
|
5 |
10093971 |
27/11/2007 |
17,500,000.00 |
TIFAC |
A WING, VISHWAKARMA BHAVAN, SHAHEED JEET SINGH MARG, NEW DELHI, DELHI - 110016, INDIA |
A29608197 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
4.167 |
8.129 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
4.950 |
4.950 |
|
Total |
9.117 |
13.079 |
CORPORATE INFORMATION
Subject was incorporated in India as a Limited Company on May 09, 2007. The Company is engaged in the business of Manufacturing and Marketing of API intermediates, Probiotics, Perfume Chemicals and flavoring Products, Liaison work
FIXED ASSETS
· Land
Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
Office
equipment
Computer
equipment’s
Other
equipment’s
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.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.