MIRA
INFORM REPORT
|
Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
LANXESS INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Lanxess House, Plot No. A 162, A 163, A 164, Road No. 27, Wagle
Estate, Opposite ITI College, MIDC, Thane (West), Thane - 400604,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
20.02.2004 |
|
|
|
|
Com. Reg. No.: |
11-158377 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7415.190
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24119MH2004PTC158377 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEL03844B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCB3880A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and Trading of various chemical and chemical intermediates. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of Lanxess Deutschland GmbH, Germany. Profitability of the company appears to be under pressure due to
losses recorded by the company which has resulted into deterioration of the
reserves. However, trade relation reported to be fair. Business is active.
Payment terms are reported to be 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would take
a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
Not Available
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Deepak Paduale |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-25871000 |
|
Date : |
25.11.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Lanxess House, Plot No. A 162, A 163, A 164, Road No. 27, Wagle Estate, Opposite ITI College, MIDC, Thane (West), Thane - 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25871000/ 25311234/ 21729200 |
|
Fax No.: |
91-22-25455039/ 25826348 |
|
Email : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory 2 : |
29/3, |
|
|
|
|
Factory 3 : |
Post – Birlagram, Nagda, District |
|
Tel. No.: |
91-7366-245104/ 245104/ 245447/ 248735 |
|
Fax No.: |
91-7366-246283 |
|
|
|
|
Factory 4 : |
Plot No. 748/2/A, GIDC, Jhagadia Industrial Estate, District Bharuch - 393110, Gujarat, India |
|
Tel. No.: |
91-2645-226800 |
|
|
|
|
Branch Office : |
Located At: · Chennai New Delhi Kolkata |
DIRECTORS
AS ON 12.09.2014
|
Name : |
Dr. Rainier Arnold Quirinus Maria van Roessel |
|
Designation : |
Chairman |
|
Address : |
Merkel Weg, 1A, Bergisch Gladbach, Bergisch Gladbach – 51427, Germany |
|
Date of Birth/Age : |
04.08.1957 |
|
Date of Appointment : |
30.08.2007 |
|
DIN No.: |
01599378 |
|
|
|
|
Name : |
Jacques Louis Albert Perez |
|
Designation : |
Additional director |
|
Address : |
Av. Adilson Seroa Da Motta, 150, COB1, Barra Da Tijuca, Rio De Janeiro
Rj 22612290 |
|
Date of Birth/Age : |
26.04.1962 |
|
Date of Appointment : |
26.08.2013 |
|
DIN No. : |
06548546 |
|
|
|
|
Name : |
Mr. Neelanjan Sarojkumar Banerjee |
|
Designation : |
Whole-time Director |
|
Address : |
240, 24th Floor, Hiranandani Meadows,Northside Building, Gladys
Alwares Road, Off Pokhran Road No.2, Thane (West) – 400610, Maharashtra,
India |
|
Date of Birth/Age : |
02.03.1973 |
|
Date of Appointment : |
09.08.2010 |
|
PAN No.: |
ADIPB2496A |
|
DIN No.: |
02743360 |
|
|
|
|
Name : |
Dr. Dattaprasad Govind Talekar |
|
Designation : |
Director |
|
Address : |
Flat No. 403, Building No. 3, Wimbledon Park, Pokhran Road No. 1,
Opposite JK School, Thane – 400602, |
|
Date of Birth/Age : |
28.08.1957 |
|
Date of Appointment : |
10.03.2005 |
|
PAN No.: |
AAZPT5132B |
|
DIN No.: |
00012595 |
|
|
|
|
Name : |
Mr. Kugalur Ramsesha Venkata Subrahmanian |
|
Designation : |
Director |
|
Address : |
8, Rushilla, 17C, |
|
Date of Birth/Age : |
26.09.1933 |
|
Date of Appointment : |
17.06.2004 |
|
DIN No.: |
00005292 |
KEY EXECUTIVES
|
Name : |
Mr. Sreeram Venkey |
|
Designation : |
Secretary |
|
Address : |
8, Siddhivinayaka Vignahara CHS Limited, Chedda Nagar, Chembur, Mumbai
– 400089, |
|
Date of Birth/Age : |
03.07.1962 |
|
Date of Appointment : |
01.07.2004 |
|
PAN No.: |
AABPV4846Q |
|
|
|
|
Name : |
Mr. Deepak Paduale |
|
Designation : |
Head of Treasury Department |
MAJOR SHAREHOLDERS
AS ON 12.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Lanxess Deutschland GmbH, Germany |
|
655118842 |
|
Lanxess Deutschland GmbH, Germany Jointly With Sreeram
Venkey |
|
3 |
|
Lanxess Deutschland GmbH, Germany Jointly With Dattaprasad
Talekar |
|
1 |
|
|
|
|
|
Total |
|
655118846 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Lanxess Deutschland GmbH, Germany |
|
86400000 |
|
|
|
|
|
Total |
|
86400000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 12.09.2014
|
Category |
Percentage |
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of various chemical and chemical intermediates. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
-- |
||||||||
|
|
|
||||||||
|
Agencies Held : |
-- |
||||||||
|
|
|
||||||||
|
Exports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|
|
|
|
Customers : |
Not Divulged |
|
|
|
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
· Bank of America ·
Citi Bank ·
Deutsche Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Associates Chartered Accountants |
|
Address : |
87, Nariman Bhavan, 227, Nariman Point, Mumbai – 400021, |
|
PAN No.: |
AAAFS1034J |
|
|
|
|
Holding company : |
· LANXESS Deutschland GmbH, Germany |
|
|
|
|
Ultimate Holding
Company : |
· LANXESS AG, Germany |
|
|
|
|
Fellow Subsidiaries
: |
· LANXESS (Changzhou) Company Limited, China · LANXESS (Liyang) Polyols Company Limited, China · LANXESS (Pty.) Limited, South Africa · LANXESS Buna GmbH, Germany · LANXESS Butyle Pte. Limited , Singapore · LANXESS Central Eastern Europe s.r.o., Slovakia · LANXESS Chemical (China) Company Limited, China · LANXESS Chemicals S.L., Spain · LANXESS Corporation, USA · LANXESS Distribution GmbH, Germany · LANXESS Elastomeres SAS, France · LANXESS Elastômeros do Brazil SA, Brazil · LANXESS Elastomers B.V., Netherlands · LANXESS Emulsion Rubber S.A.S., France · LANXESS Hong Kong Limited, Hong Kong · LANXESS Industria de Produtos Quimicos e Plasticos Ltda., Brazil · LANXESS International S.A., Switzerland · LANXESS K.K., Japan · LANXESS Kimya Ticaret Limited, Turkey · LANXESS Korea Limited, South Korea · LANXESS Limited, United Kingdom · LANXESS N.V., Belgium · LANXESS Pte. Limited, Singapore · LANXESS Pty Limited, Australia · LANXESS S.A. de C.V., Mexico · LANXESS S.A., Argentina · LANXESS S.A.S., France · LANXESS S.R.L., Italy · LANXESS Shanghai Pigments Co. Limited, China · LANXESS Sybron Chemicals Inc., USA · LANXESS Wuxi Chemical Company Limited, China · OOO Lanxess – Russia · PCTS Speciality Chemicals Pte Limited · Perlon-Monofil GmbH, Germany · Rhein Chemie (Qingdao) Co. Limited, China · Rhein Chemie Argentina S.A., Argentina · Rhein Chemie Corporation, USA · Rhein Chemie Japan Limited, Japan · Rhein Chemie Rheinau GmbH, Germany · Rhein Chemie Uruguay S.A., Uruguay · Saltigo GmbH, Germany |
CAPITAL STRUCTURE
AS ON 12.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
850000000 |
Equity Shares |
Rs.10/- each |
Rs.8500.000 Millions |
|
150000000 |
Preference Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.10000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
655118846 |
Equity Shares |
Rs.10/- each |
Rs.6551.188 Millions |
|
86400000 |
Preference Shares |
Rs.10/- each |
Rs.864.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.7415.188
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7415.190 |
7415.190 |
5496.090 |
|
(b) Reserves & Surplus |
552.810 |
562.810 |
866.000 |
|
(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) |
7968.000 |
7978.000 |
6362.090 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3608.000 |
5180.000 |
4323.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
17.000 |
291.000 |
564.000 |
|
(d) long-term provisions |
62.000 |
50.000 |
53.000 |
|
Total Non-current Liabilities (3) |
3687.000 |
5521.000 |
4940.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1332.000 |
1688.000 |
1936.000 |
|
(b) Trade payables |
1075.000 |
880.000 |
1170.000 |
|
(c) Other current
liabilities |
2949.000 |
777.000 |
1124.000 |
|
(d) Short-term provisions |
239.000 |
261.000 |
199.000 |
|
Total Current Liabilities (4) |
5595.000 |
3606.000 |
4429.000 |
|
|
|
|
|
|
TOTAL |
17250.000 |
17105.000 |
15731.090 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7226.000 |
7761.000 |
6957.000 |
|
(ii) Intangible Assets |
661.000 |
827.000 |
1000.000 |
|
(iii) Capital
work-in-progress |
508.000 |
312.000 |
1009.090 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
4.000 |
|
(b) Non-current Investments |
11.000 |
11.000 |
11.000 |
|
(c) Deferred tax assets (net) |
537.000 |
559.000 |
479.000 |
|
(d) Long-term Loan and Advances |
723.000 |
767.000 |
1175.000 |
|
(e) Other Non-current assets |
1.000 |
2.000 |
4.000 |
|
Total Non-Current Assets |
9667.000 |
10239.000 |
10639.090 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3200.000 |
2472.000 |
1951.000 |
|
(c) Trade receivables |
3128.000 |
3006.000 |
1960.000 |
|
(d) Cash and cash
equivalents |
141.000 |
315.000 |
305.000 |
|
(e) Short-term loans and
advances |
1113.000 |
1069.000 |
873.000 |
|
(f) Other current assets |
1.000 |
4.000 |
3.000 |
|
Total Current Assets |
7583.000 |
6866.000 |
5092.000 |
|
|
|
|
|
|
TOTAL |
17250.000 |
17105.000 |
15731.090 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
16167.000 |
13225.000 |
9964.000 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1850.000 |
1210.000 |
572.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
739.000 |
694.000 |
497.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1111.000 |
516.000 |
75.000 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
0.000 |
170.000 |
174.000 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1099.000 |
1017.000 |
861.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
12.000 |
(331.000) |
(612.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
22.000 |
(28.000) |
252.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(10.000) |
(303.000) |
(864.000) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
6187.000 |
5354.000 |
3552.000 |
|
|
|
Indenting Commission |
306.000 |
269.000 |
254.000 |
|
|
|
Marketing Services |
22.000 |
19.000 |
16.000 |
|
|
|
|
125.000 |
134.000 |
102.000 |
|
|
|
Other Earnings |
142.000 |
15.000 |
1.000 |
|
|
TOTAL EARNINGS |
6782.000 |
5791.000 |
3925.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4106.000 |
3045.000 |
1502.000 |
|
|
|
Packing Materials |
21.000 |
15.000 |
24.000 |
|
|
|
Stores, Spares and Components |
16.000 |
23.000 |
15.000 |
|
|
|
Traded Goods |
2629.000 |
2113.000 |
1731.000 |
|
|
|
Capital Goods |
45.000 |
43.000 |
404.000 |
|
|
TOTAL IMPORTS |
6817.000 |
5239.000 |
3676.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.02) |
(0.41) |
(1.99) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(0.06) |
(2.29) |
(8.67) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.44 |
9.15 |
5.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.07 |
(2.04) |
(4.30) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
(0.04) |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.62 |
0.86 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.90 |
1.15 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
5496.090 |
7415.190 |
7415.190 |
|
Reserves & Surplus |
866.000 |
562.810 |
552.810 |
|
Net
worth |
6362.090 |
7978.000 |
7968.000 |
|
|
|
|
|
|
long-term borrowings |
4323.000 |
5180.000 |
3608.000 |
|
Short term borrowings |
1936.000 |
1688.000 |
1332.000 |
|
Total
borrowings |
6259.000 |
6868.000 |
4940.000 |
|
Debt/Equity
ratio |
0.984 |
0.861 |
0.620 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
9964.000 |
13225.000 |
16167.000 |
|
|
|
32.728 |
22.246 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
9964.000 |
13225.000 |
16167.000 |
|
Profit |
(864.000) |
(303.000) |
(10.000) |
|
|
(8.67%) |
(2.29%) |
(0.06%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
2270.000 |
0.000 |
525.000 |
|
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 |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Term loans from
banks |
0.000 |
455.000 |
|
Loans and
advances from related parties |
3608.000 |
4725.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Term loans from
banks |
850.000 |
500.000 |
|
Loans repayable
on demand |
482.000 |
1188.000 |
|
|
|
|
|
Total |
4940.000 |
6868.000 |
LITIGATION
DETAILS:
|
HIGH
COURT OF BOMBAY
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NO CHARGES EXIST
FOR COMPANY
FIXED ASSETS:
· Land
Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
Office
equipment
Goodwill
Computer
software
Copyrights,
patents and other operating rights
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.61.92 |
|
|
1 |
Rs.97.12 |
|
Euro |
1 |
Rs.76.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
30 |
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.