MIRA INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
VIPUL CHEMICALS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gala No. 113, Building No. 2, Sector – 3, Millenium Business Park,
Mahape, Navi Mumbai – 400701, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.09.1999 |
|
|
|
|
Com. Reg. No.: |
11-121912 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1999PTC121912 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEV10684C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV8512B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Chemicals. |
|
|
|
|
No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 346000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. External borrowings of the company seems to be huge. Profitability of the
company also seems to be low during 2013. 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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BB+” |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
14.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+” |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
14.08.2013 |
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 : |
Mr. Umesh Tripathi |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9324080771 |
|
Date : |
28.03.2014 |
LOCATIONS
|
Registered Office : |
Gala No. 113, Building No. 2, Sector – 3, Millenium Business Park, Mahape,
Navi Mumbai – 400701, Maharashtra, India |
|
Tel. No.: |
91-22-27781511/ 27781779/ 27781509 |
|
Fax No.: |
91-22-27781500/ 27781779/ 27781509 |
|
E-Mail : |
|
|
Area : |
738.10 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. C-101, TTC Industrial Area, Pawne, MIDC, Navi
Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-27781510 / 11 /
27781509 / 27622620 / 21 |
|
Fax No.: |
91-22-27622645 / 27781509 |
|
E-Mail : |
|
|
Area : |
3300 sq. m |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
C-53 and C-53/1, TTC Industrial Area, Turbhe, Navi Mumbai – 400705, Maharashtra, India. |
|
Area : |
5300 sq.m |
|
Location : |
Owned |
|
|
|
|
Factory 3: |
Unit No.26, Building No.2(A-3), Sector-1,Millennium Business Park, TTC Industrial Area, Mhape, Navi Mumbai - 400705, Maharashtra, India |
|
Tel. No.: |
91-22-27781511 |
|
Fax No.: |
91-22-27781827 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Laxman Vithu Kadam |
|
Designation : |
Managing Director |
|
Address : |
Raheja Gardens, Ascona Building, B Wing, Flat No. 1204, LBS Marg,
Thane – 400604, Maharashtra, India |
|
Date of Birth/Age : |
17.06.1963 |
|
Date of Appointment : |
24.09.1999 |
|
DIN No.: |
01240530 |
|
|
|
|
Name : |
Mr. Ramchandra Vithu Kadam |
|
Designation : |
Director |
|
Address : |
Raheja Gardens, Ascona Building, B Wing, Flat No. 1204, LBS Marg,
Thane – 400604, Maharashtra, India |
|
Date of Birth/Age : |
17.06.1963 |
|
Date of Appointment : |
24.09.1999 |
|
DIN No.: |
01392585 |
|
|
|
|
Name : |
Mr. Vijay Vithu Kadam |
|
Designation : |
Director |
|
Address : |
E G-3, Govind Dham, Mumbai Pune Road, Kalwa, Thane – 400605,
Maharashtra, India |
|
Date of Birth/Age : |
15.12.1956 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
02538041 |
|
|
|
|
Name : |
Mr. Vipul Laxman Kadam |
|
Designation : |
Director |
|
Address : |
Flat No.1203/1204, A Wing, Garden LBS Marg, Thane – 400604,
Maharashtra, India |
|
Date of Birth/Age : |
25.03.1991 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
02791925 |
KEY EXECUTIVES
|
Name : |
Mr. Umesh Tripathi |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ramchandra Vithu Kadam |
|
99995 |
|
Laxman Vithu Kadam |
|
97995 |
|
Dinkar Sayaji More |
|
1 |
|
Shamkant Hajare |
|
1 |
|
Sharda Hajare |
|
1 |
|
Vipul Laxman Kadam |
|
2000 |
|
Hukmichand N Shah |
|
1 |
|
Rajendra Kumar B. Jain |
|
1 |
|
Mukesh H Shah |
|
1 |
|
Leela P Shah |
|
1 |
|
Sarita M Shah |
|
1 |
|
Ganeshlal H Shah |
|
1 |
|
Hitesh G Shah |
|
1 |
|
Total |
|
200000 |
Allottees as 26.02.2014
|
Names of Allottees |
|
No. of Shares |
|
Laxman Vithu Kadam |
|
25000 |
|
Ramchandra Vithu Kadam |
|
25000 |
|
Total |
|
50000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.99 |
|
Others |
0.01 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20260081%2029-Mar-2014_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemicals. |
|
|
|
|
Imports : |
|
|
Products : |
Chemicals |
|
Countries : |
· Korea · Singapore |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash, Credit and L/C |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
All Products (Chemicals) |
Not Applicable |
4500 MT |
2569205.00 kgs. |
|
|
|
|
|
GENERAL INFORMATION
|
Supplier: |
· Tamilanadu Paper Mills Limited · Apcotex Inds. Limited · Chinmay Enterprises · Jupiter Electronics · Mitsu Chem Private Limited · Modern Hardware Stores · Sagar Chemicals · Sumit Bearings · Nisha Chemicals · Express Graphics |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Customer: |
· Bilt Graphic Paper Products Limited · Ankit Enterprises · Rahul Enterprises · Sai Trading · ITC Limited · Ballarpur Industries Limited · Balkrishna Paper Mills Limited · Papchem · Laxmi Board and Paper Mills Limited · Tamilnad Newsprint and Papers Limited |
||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
75 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Eastern Express Highway, Gala No.9 and 10, Sun, Magnetic, Near LIC Off, Louis Wadi Services Road, Thane – 4000604, Maharashtra, India · ICICI Bank Limited |
||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Thakur Naik and Deo Chartered Accountants |
|
Address : |
Shanti Cottage, Thakur Blocks, 2nd Floor, Above Suvidha Stores, Gokhale Road, Naupada, Thane (West) – 400602, Maharashtra, India |
|
Tel. No.: |
91-22-25402062/ 25410333 |
|
Fax No.: |
91-22-25401398 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFT7201J |
|
|
|
|
Associates/Subsidiaries : |
· Alfa Carbonless Paper Manufacturing Company Private Limited · Larkad Paper Industries Private Limited |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
275,000 |
Equity Shares |
Rs.100/- each |
Rs. 27.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Shares |
Rs.100/- each |
Rs. 25.000 Millions |
|
|
|
|
|
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
275,000 |
Equity Shares |
Rs.100/- each |
Rs. 27.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 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 |
20.000 |
20.000 |
20.000 |
|
(b) Reserves & Surplus |
66.548 |
64.749 |
58.256 |
|
(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) |
86.548 |
84.749 |
78.256 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
177.933 |
175.517 |
149.218 |
|
(b) Deferred tax liabilities (Net) |
2.689 |
2.559 |
1.301 |
|
(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) |
180.622 |
178.076 |
150.519 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
118.695 |
93.050 |
51.715 |
|
(b) Trade
payables |
38.984 |
25.752 |
14.154 |
|
(c) Other
current liabilities |
27.607 |
33.338 |
28.357 |
|
(d) Short-term
provisions |
4.380 |
5.446 |
3.281 |
|
Total Current
Liabilities (4) |
189.666 |
157.586 |
97.507 |
|
|
|
|
|
|
TOTAL |
456.836 |
420.411 |
326.282 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
272.617 |
245.868 |
145.875 |
|
(ii)
Intangible Assets |
0.078 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.908 |
28.090 |
85.162 |
|
(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 |
1.617 |
0.930 |
0.932 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
275.220 |
274.888 |
231.969 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
1.000 |
1.000 |
|
(b)
Inventories |
80.746 |
56.758 |
26.699 |
|
(c) Trade
receivables |
80.090 |
58.560 |
42.158 |
|
(d) Cash
and cash equivalents |
7.110 |
5.460 |
7.198 |
|
(e) Short-term
loans and advances |
13.670 |
23.745 |
17.258 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
181.616 |
145.523 |
94.313 |
|
|
|
|
|
|
TOTAL |
456.836 |
420.411 |
326.282 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
417.300 (Approx.) |
290.900 (Approx.) |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
32.740 |
27.303 |
19.984 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
30.342 |
17.727 |
10.098 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2.398 |
9.576 |
9.886 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.599 |
3.083 |
2.842 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1.799 |
6.493 |
7.044 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
64.749 |
58.256 |
51.212 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
66.548 |
64.749 |
58.256 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
33.088 |
24.456 |
NA |
|
|
|
Capital Goods |
0.000 |
1.619 |
NA |
|
|
TOTAL IMPORTS |
33.088 |
26.075 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
8.99 |
32.46 |
35.22 |
|
Expected Sales (2013-2014) : Rs. 500.000 Millions
The above information has been parted by Mr. Umesh Tripathi (Accounts
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.53 |
2.44 |
4.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.11 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.43 |
3.17 |
2.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96 |
0.92 |
0.97 |
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 |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
58.256 |
64.749 |
66.548 |
|
Net
worth |
78.256 |
84.749 |
86.548 |
|
|
|
|
|
|
long-term borrowings |
149.218 |
175.517 |
177.933 |
|
Short term borrowings |
51.715 |
93.050 |
118.695 |
|
Total
borrowings |
200.933 |
268.567 |
296.628 |
|
Debt/Equity
ratio |
2.568 |
3.169 |
3.427 |
%20PRIVATE%20LIMITED%20-%20260081%2029-Mar-2014_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales (Approximately) |
|
290.900 |
417.300 |
|
|
|
|
43.451 |
%20PRIVATE%20LIMITED%20-%20260081%2029-Mar-2014_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales (Approximately) |
|
290.900 |
417.300 |
|
Profit |
|
6.493 |
1.799 |
|
|
|
2.23% |
0.43% |
%20PRIVATE%20LIMITED%20-%20260081%2029-Mar-2014_files/image019.gif)
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
two 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 |
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
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loan from directors |
|
|
|
Laxman V Kadam |
38.726 |
37.977 |
|
Ramchandra V Kadam |
40.234 |
43.934 |
|
Vipul L Kadam |
0.200 |
0.200 |
|
Total |
79.160 |
82.111 |
REVUEW OF BUSINESS
OPERATIONS
The company, in its current year of operation has shown fair result considering present Macro-Economic Scenario. The directors are confident that company will show good result in the coming days.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
Other money for which the company is contingently liable (Liable related to C Form) |
0.251 |
0.048 |
|
|
|
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U24110MH1999PTC121912 |
|
Name of the
company |
VIPUL CHEMICALS
(INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gala No. 113, Building No. 2, Sector – 3, Millenium Business Park,
Mahape, Navi Mumbai – 400701, Maharashtra, India E-mail: vipulchemicals@vsnl.net
|
|
This form is for |
Modification of charge |
|
Charge identification
number of the modified |
90147530 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of India, Eastern Express Highway, Gala No.9 and 10, Sun, Magnetic, Near LIC Off, Louis Wadi Services Road, Thane – 4000604, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum for
recording extension of mortgage of deposit of title deeds covering enhanced limit
and/or creation of equitable mortgage on additional properties for existing
limits and enhanced limits and additional facilities. |
|
Date of
instrument Creating the charge |
26.06.2013 |
|
Amount secured by
the charge |
Rs. 234.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest WC The applicable
rate of interest as per CRA of SB-9 based on audited financials as at
31.03.2011 is bps above Base Rate of 10.00% p.a. i.e. 16.75% p.a. (Other ROI
as per the annexure attached). Terms of Repayment The loan is
repayable in 64 Monthly installments inclusive of moratorium period of 5
Months from November 2011 to March 2011. The first installment shall commerce
from April 2012. The interest portion will be recovered as and when applied.
The term loan is to be repaid as per annexure repayment schedule. Margin RM Domestic -
25%, Imported - 25%, SIP - 40%, FG - 33.33%, Receivables (Cover 90 days) -
40%, Letter of Credit - 25%, New Term Loan - 25%. Extent and Operation of the charge Extension of
hypothecation charge over the machinery purchased out of Bank finance. Others DCC (Enhanced
from Rs. 60.000 Millions) - Rs. 100.000 Millions, TL 1O/s - Rs. 5.600
Millions, TL 2O/s - Rs. 6.000 Millions, TL 3O/s - Rs. 46.500 Millions, TL
4O/s - Rs. 24.200 Millions, TL 5O/s - Rs. 14.700 Millions, Fresh TL - Rs.
30.000 Millions, LC (Enhanced from Rs. 3.000 Millions)*- Rs. 7.500 Millions,
Total Limits - Rs. 234.500 Millions. *DCC limit of Rs. 80.000 Millions will
be released now. Balance amount will be released after a review of
performance of the unit in Jan 2012. All other terms
and conditions as per the sanctioned letter and loan agreement. |
|
Short particulars
of the property charged |
All that piece
and parcel of Land and property No C-535, TTC Industrial Area, Adm 1257 sq.
mtrs Village Pawane, Navi Mumbai Registration and Sub Dist Thane Boundaries
are as under East: plot no. C-345, West:- L. T. Line, South:- Plot No OS - 5pt,
North:- Road. |
|
Date of
Modification |
22.11.2011 |
|
Particulars of
the present modification |
The Borrowers by
way of equitable mortgage by deposit of title deeds of Immovable properties (Description
on point no 15) has provided further security to secure the Loan Facility of
Rs. 234.500 Millions. |
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Electrical Fittings
· Furniture and Fixtures
· Computer Hardware
· Office Equipment
· Factory Equipment
· Laboratory Equipment
· Vehicles
· Office Premises
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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
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 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.