MIRA INFORM REPORT

 

 

Report Date :

28.11.2014

 

IDENTIFICATION DETAILS

 

Name :

GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS LIMITED (w.e.f. 10.10.2012)

 

(N) CODE SOLUTION DIVISION OF GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS LIMITED

 

 

Formerly Known As :

GUJARAT NARMADA VALLY FERTILIZERS COMPANY LIMITED

 

 

Registered Office :

P. O. Narmadanagar, District Bharuch - 392 015, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

10.05.1976

 

 

Com. Reg. No.:

04-002903

 

 

Capital Investment / Paid-up Capital :

Rs.1554.188 Millions

 

 

CIN No.:

[Company Identification No.]

L24110GJ1976PLC002903

 

 

TIN No.:

Not Available

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BRDG00702C

 

 

PAN No.:

[Permanent Account No.]

AAACG8372Q

 

 

Legal Form :

A Public Limited Liability Company.  The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturing and Selling of fertilizers viz. urea, ammonium nitro-phosphate and calcium ammonium nitrate, chemicals viz. ammonia, methanol, formic acid, acetic acid, nitric acids and ammonium nitrate melt and electronics viz. digital switching systems and printed circuit boards.

 

 

No. of Employees :

Information denied by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (68)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a well-established company having fine track record.

 

The rating reflects company’s established market position in fertilizers supported by diverse chemicals product portfolio, decent financial base and adequate profitability margins of the company.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment.

 

The company can be considered good for normal business dealings at usual trade terms and condition

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 slowly 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

 

Rating Agency Name

ICRA

Rating

Term Loans = AA-

Rating Explanation

Adequate degree of safety and low credit risk

Date

June 2014

 

Rating Agency Name

ICRA

Rating

Non Fund Based Facilities = A1+

Rating Explanation

Very strong degree of safety and lowest credit risk

Date

June 2014

 

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. Saurabh

Designation :

Deputy Manager

Contact No.:

91-9099989777

Date :

26.11.2014

 

 

LOCATIONS

 

Registered Office / Head Office / Factory:

P. O. Narmadanagar, District Bharuch - 392 015, Gujarat, India

Tel. No.:

91-2642-247001 / 247002 (Head Office Bharuch)

91-2642-663626 (Fertilizers Division / Chemical Division)

Fax No.:

91-2642-247084 / 247057 / 247122

91-2642-247065 (Fertilizers Division / Chemical Division)

E-Mail :

pnanavati@gnvfc.com

mntirmak@gnfc.in

rbpanchal@gnfc.in

rbpanchal@gnfc.in

rtbhargava@gnfc.in

industrialproducts@gnfc.in

Website :

http://www.gnfc.in

 

 

DIRECTORS

 

As on 05.08.2014

 

Name :

Dr. Varesh Sinha, IAS

Designation :

Chairman

 

 

Name :

Dr. Rajiv Kumar Gupta

Designation :

Managing Director

 

 

Name :

Mr. DJ Pandian, IAS

Designation :

Director

 

 

Name :

Dr. Hasmukh Adhia, IAS

Designation :

Director

 

 

Name :

Mr. GC Murmu, IAS

Designation :

Director

 

 

Name :

Mr. Atanu Chakraborty, IAS

Designation :

Director

 

 

Name :

Dr. TT Ram Mohan

Designation :

Director

 

 

Name :

Mr. Arvind Sahay

Designation :

Director

 

 

Name :

Mr. Chandrasekhar Mani

Designation :

Director

 

 

Name :

Mr. RA Shah, CFO

Designation :

Executive Director

 

 

Name :

Mr. RT Bhargava

Designation :

Executive Director

 

 

Name :

Mr. JC Bhatt

Designation :

Executive Director

 

 

Name :

Mr. AT Patadia

Designation :

Executive Director

 

 

Name :

Mr. JS Kochar

Designation :

Executive Director

 

 

Name :

Mr. VS Sirohi

Designation :

Executive Director

 

 

Name :

Mr. PA Mankad

Designation :

Executive Director

 

 

KEY EXECUTIVES

 

Name :

Shri RB Panchal

Designation :

Secretary

 

 

SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Category of Shareholder

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

64003713

41.21

http://www.bseindia.com/include/images/clear.gifSub Total

64003713

41.21

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

64003713

41.21

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

3413325

2.20

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

21458171

13.81

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

17720626

11.41

http://www.bseindia.com/include/images/clear.gifSub Total

42592122

27.42

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

4946617

3.18

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/images/clear.gifIndividual shareholders holding nominal share capital up to Rs.0.100 million

33868421

21.80

http://www.bseindia.com/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs.0.100 million

9075621

5.84

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

841049

0.54

http://www.bseindia.com/include/images/clear.gifTrusts

207183

0.13

http://www.bseindia.com/include/images/clear.gifC M Pool A/c

108583

0.07

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

3000

0.00

http://www.bseindia.com/include/images/clear.gifSocieties

352614

0.23

http://www.bseindia.com/include/images/clear.gifUnclaimed Suspense A/c

169669

0.11

http://www.bseindia.com/include/images/clear.gifSub Total

48731708

31.37

Total Public shareholding (B)

91323830

58.79

Total (A)+(B)

155327543

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

91240

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

91240

0.00

Total (A)+(B)+(C)

155418783

100.00

 

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

 

Name of Shareholders

No. of Shares

Percentage of Holding

Gujarat State Investments Limited

33224546

21.38

Gujarat State Fertilizers & Chemicals Limited

30779167

19.80

Total

64003713

41.18

(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

 

 

Name of Shareholders

No. of Shares

Percentage of Holding

Life Insurance Corporation of India

14083612

9.06

Fidelity Puritan Trust - Fidelity low priced stock fund

12000000

7.72

General Insurance Corporation of India

4540053

2.92

The New India Assurance Company Limited

2090613

1.35

Reliance Capital Trustee Co. Limited - Reliance Long term Equity Fund

2039975

1.31

Fidelity Northstar Fund

2000000

1.29

Total

36754253

23.65

Shareholding of securities (including shares, warrants, convertible securities) of persons (together with PAC) belonging to the category “Public” and holding more than 5% of the total number of shares of the company

 

Name of Shareholders

No. of Shares

Percentage of Holding

Life Insurance Corporation of India

14083612

9.06

Fidelity Puritan Trust - Fidelity low priced stock fund

12000000

7.72

Fidelity Northstar Fund

2000000

1.29

Total

28083612

18.07

 

 

Details of Depository Receipts (DRs)

 

Type of Outstanding DR (ADRs, GDRs, SDRs, etc.)

No. of Outstanding DRs

No. of Shares Underlying
Outstanding DRs

GDRs

18,248

91,240

Total

18,248

91,240

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Selling of fertilizers viz. urea, ammonium nitro-phosphate and calcium ammonium nitrate, chemicals viz. ammonia, methanol, formic acid, acetic acid, nitric acids and ammonium nitrate melt and electronics viz. digital switching systems and printed circuit boards.

 

 

Products :
  • TDI (Toluene Di- Isocyanate)
  • Aniline
  • Acetic Acid (Glacial)
  • Ethyl Acetate
  • Nitrobenzene
  • Formic acid
  • Methyl Formate
  • Concentrated Nitric Acid (CNA)
  • Weak Nitric Acid (WNA)
  • Ammonium Nitrate (Melt)
  • Methanol

 

 

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 denied by management

 

 

Bankers :

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

LONG TERM BORROWINGS

 

 

Rupee Term Loans From Banks (Secured)

11764.064

13112.445

Foreign Currency Term Loan From Bank (Secured)

1954.628

1794.230

Rupee Term Loan From Bank (Unsecured)

0.000

80.038

Rupee Term Loan From other (Unsecured)

3000.000

3200.00

SHORT TERM BORROWINGS

 

 

From Bank- Cash Credit and Overdraft Accounts

5238.547

4730.596

From Other

30.500

30.500

Short-Term Deposit from Other

2000.000

4000.000

Short-Term Loans and Advances from Banks

8984.650

996.343

Buyers’ Credit in Foreign Currency from Banks

528.064

362.293

Total

33500.453

28306.445

 

Notes:

 

Long Term Borrowings

 

a.     Security details:

 

  1. Rupee term loans from banks are secured by way of first mortgage on all immovable properties, both present and future for which charge is created and are further secured by way of hypothecation created on all non-current assets and second charge by way of hypothecation created on all current assets including stocks and book debts.

 

  1. Foreign currency term loan from bank is secured by way of first mortgage on all immovable properties, both present and future for which charge is created and is further secured by way of hypothecation created on all movable fixed assets.

 

  1. The above charges are ranking pari-passu among the lenders.

 

  1. Repayment details:

 

  1. Rupee term loans from banks of Rs.11545.300 Millions carries interest @ 11.50% p.a. (floating) payable on monthly basis. The loan is repayable in quarterly installments starting from 30.09.2012 and ending on 30.06.2017.

 

  1. Rupee term loans from banks of Rs.7730.000 Millions carries interest @ 10.25%~11.00% p.a. (floating) payable on monthly basis. The loan is repayable in quarterly installments starting from 31.12.2013 and ending on 30.09.2021.

 

  1. Foreign currency term loan from bank carries interest @ 6 month Euribor plus 1.98% payable on half yearly basis. The loan is repayable in half yearly installments starting from 01.10.2014 and ending on 01.04.2020.

 

  1. Unsecured rupee term loan from bank is against assignment of security held by the Company towards outstanding of House Building Advance given to its employees and carries interest @ 10.30 % p.a. (floating) payable on monthly basis. The loan is repayable in quarterly installments starting from 31.12.2009 and ending on 30.9.2014.

 

  1. Unsecured rupee term loan from other of Rs.1000.000 Millions carries interest @ 9.50 % p.a. (floating) payable on quarterly basis. The loan is repayable in quarterly installments starting from 06.12.2013 and ending on 07.03.2016.

 

  1. Unsecured rupee term loan from other of Rs.3000.000 Millions carries interest @ 9.50% p.a. (fl oating) payable on quarterly basis. The loan is repayable in quarterly installments starting from 20.12.2013 and ending on 21.09.2015.

 

  1. Unsecured rupee term loan from other of Rs.2000.000 Millions carries interest @ 9.50% p.a. (fl oating) payable on quarterly basis. The loan is repayable in quarterly installments starting from 23.09.2014 and ending on 23.12.2016.

 

Short Term Borrowings

 

Out of the above:

 

Secured Borrowings                  Rs.9423.197 Millions

Un-secured Borrowings              Rs.7358.564 Millions 

 

  1. Short term borrowings from banks as Cash Credit and Overdraft accounts of Rs.5238.547 Millions (31-03-2013: Rs.4730.596 Millions) and Short-Term Loans and Advances from Banks of Rs.624.500 Millions (31-03-2013: Rs.Nil) are secured by first charge by way of hypothecation of stocks and book debts and all other movables, both present and future and further secured by second charge by way of mortgage on all immovable properties. These charges are ranking pari-passu among the working capital lenders.

 

  1. Short term borrowings from banks as Short-Term Loans and Advances of Rs.3560.150 Millions (31-03-2013: Rs.996.343 Millions) are secured by hypothecation of assets, for which charge is to be created. The said charge on the hypothecated assets shall rank as first pari passu charge inter se the member banks of SBI consortium.

 

 

Banking Relations :

--

 

 

Statutory Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountant

Address :

Ahmedabad, Gujarat, India

 

 

Cost Auditors :

 

Name :

Diwanji and Associates

Chartered Accountants

Address :

Vadodara, Gujarat, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Company under Significant Influence :

Gujarat Green Revolution Company Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000000

Equity Shares

Rs.10/- each

Rs.2500.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

155418783

Equity Shares

Rs.10/- each

Rs.1554.188 Millions

Terms/ Rights attached to Equity shares:

 

The Company has only one class of shares, i.e. equity shares which rank pari passu in all respects. All the equity shares are fully paid up and no restrictions are attached to equity shares.

 

 

Details of equity shares held by shareholders holding more than 5% shares:

 

Name of Shareholder

Number of Shares

% holding

Gujarat State Investments Limited

33224546

21.38

Gujarat State Fertilizers & Chemicals Limited

30779167

19.80

Life Insurance Corporation of India

14083612

9.06

Fidelity Puritan Trust- Fidelity Low Priced Stock Fund

11000000

7.08

 

 

Reconciliation of the number of shares

 

Equity Shares

Number of Shares

Equity Shares at the beginning of the year

155418783

Add: Equity Shares issued during the year

0

Less: Equity Shares cancelled during the year

0

Equity Shares at the end of the year

155418783

 

 

 

 

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

1,554.188

1,554.188

1,554.188

(b) Reserves & Surplus

27,901.441

25,615.201

23,520.634

(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)

29,455.629

27,169.389

25,074.822

 

 

 

 

(3) Deferred Income

 

 

 

Grant from Government of India

11,837.324

0.000

0.000

 

 

 

 

(4) Non-Current Liabilities

 

 

 

(a) long-term borrowings

16,718.692

18,186.713

7,941.385

(b) Deferred tax liabilities (Net)

3,364.072

2,358.272

2,211.572

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

876.038

939.122

812.609

Total Non-current Liabilities (4)

20,958.802

21,484.107

10,965.566

 

 

 

 

(5) Current Liabilities

 

 

 

(a) Short term borrowings

16,781.761

10,119.732

4,566.260

(b) Trade payables

2,940.317

2,207.720

4,662.898

(c) Other current liabilities

9,612.548

7,940.360

10,582.284

(d) Short-term provisions

1,111.100

1,298.515

1,041.976

Total Current Liabilities (5)

30,445.726

21,566.327

20,853.418

 

 

 

 

TOTAL

92,697.481

70,219.823

56,893.806

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

48,528.617

17,959.075

15,917.792

(ii) Intangible Assets

206.302

115.749

133.754

(iii) Capital work-in-progress

232.519

27,524.529

18,672.008

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1,321.490

1,298.402

975.626

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

2,696.774

1,064.860

2,781.664

(e) Other Non-current assets

8,510.288

0.258

0.151

Total Non-Current Assets

61,495.990

47,962.873

38,480.995

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

8,245.864

6,369.933

5,992.048

(c) Trade receivables

14,547.238

11,769.909

7,786.422

(d) Cash and cash equivalents

1,734.248

2,211.931

2,998.957

(e) Short-term loans and advances

2,550.075

1,905.177

1,635.384

(f) Other current assets

4,124.066

0.000

0.000

Total Current Assets

31,201.491

22,256.950

18,412.811

 

 

 

 

TOTAL

92,697.481

70,219.823

56,893.806

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

48,471.881

42,525.705

38,620.067

 

 

Other Income

450.532

403.793

300.939

 

 

TOTAL                                     (A)

48,922.413

42,929.498

38,921.006

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

29,865.886

24,683.241

21,350.695

 

 

Purchases of Stock-in Trade

888.542

819.351

1,493.875

 

 

Change in Inventories of Finished Goods, Stock-in-Process and Stock-in-Trade

(387.258)

(403.275)

(679.400)

 

 

Employee Benefits Expense

2,534.867

2,572.550

2,839.177

 

 

Other Expenses

9,405.195

8,921.294

8,101.565

 

 

TOTAL                                     (B)

42,307.232

36,593.161

33,105.912

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

6,615.181

6,336.337

5,815.094

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

923.712

626.837

335.855

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

5,691.469

5,709.500

5,479.239

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1,453.146

1,485.549

1,305.253

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

4,238.323

4,223.951

4,173.986

 

 

 

 

 

Less

TAX                                                                  (H)

1,315.600

1,492.900

1,335.636

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

2,922.723

2,731.051

2,838.350

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

3,944.867

4,850.229

5,644.090

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

3,000.000

3,000.000

3,000.000

 

 

Dividend

543.966

543.966

543.966

 

 

Tax on Dividend

92.447

92.447

88.245

 

BALANCE CARRIED TO THE B/S

3,231.177

3,944.867

4,850.229

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of goods FOB Basis

723.960

285.131

86.646

 

 

Technical consultancy and other fees

0.000

10.538

0.980

 

TOTAL EARNINGS

723.960

295.669

87.626

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

1809.783

3025.675

2304.107

 

 

Stores & Spares

262.033

189.775

366.884

 

 

Capital Goods

341.645

434.888

755.880

 

TOTAL IMPORTS

2413.461

3650.338

3426.871

 

 

 

 

 

 

Earnings Per Share (Rs.)

18.81

17.57

18.26

 

 

QUARTERLY RESULTS

 

Particulars

 

 

30.06.2014

(Unaudited)

30.09.2014

(Unaudited)

 

 

1st Quarter

2nd Quarter

Net Sales

 

10132.300

12935.800

Total Expenditure

 

9601.200

12215.500

PBIDT (Excl OI)

 

531.100

720.300

Other Income

 

100.700

136.700

Operating Profit

 

631.800

857.000

Interest

 

618.000

641.200

Exceptional Items

 

0.000

0.000

PBDT

 

13.800

215.800

Depreciation

 

512.800

519.500

Profit Before Tax

 

(499.000)

(303.700)

Tax

 

0.000

0.000

Provisions and contingencies

 

0.000

0..000

Profit After Tax

 

(499.000)

(303.700)

Extraordinary Items

 

0.000

0.000

Prior Period Expenses

 

0.000

0.000

Other Adjustments

 

0.000

0.000

Net Profit

 

(499.000)

(303.700)

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

6.03

6.42

7.35

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

13.65

14.90

15.06

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.65

10.20

11.21

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14

0.16

0.17

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.14

1.04

0.50

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.02

1.03

0.88

 

 

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

1554.188

1554.188

1554.188

Reserves & Surplus

23520.634

25615.201

27901.441

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

25074.822

27169.389

29455.629

 

 

 

 

long-term borrowings

7941.385

18186.713

16718.692

Short term borrowings

4566.260

10119.732

16781.761

Total borrowings

12507.645

28306.445

33500.453

Debt/Equity ratio

0.499

1.042

1.137

 

 

 

 

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

38,620.067

42,525.705

48,471.881

 

 

10.113

13.983

 

 

 

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

38,620.067

42,525.705

48,471.881

Profit

2,838.350

2,731.051

2,922.723

 

7.35%

6.42%

6.03%

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Rs. In Millions

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

Rupee Term Loans From Banks (Secured)

3083.060

2696.060

1731.795

Foreign Currency Term Loan From Bank (Secured)

175.846

0.000

0.000

Rupee Term Loan From Bank (Unsecured)

9.972

160.000

160.000

Rupee Term Loan From other (Unsecured)

2200.000

800.000

5500.000

Total

5468.878

3656.060

7391.795

 

 

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

Ye

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

Yes

23]

Banking Details

No

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

No

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

 

 

 

LITIGATION DETAILS

 

HIGH COURT OF GUJARAT

 

FIRST APPEAL No. 880 of 2013

 

Status : PENDING

( Converted from : FAST/219/2013 )

CCIN No : 001012201300880

 

Last Listing Date: 11/06/2013

 

Coram

HONOURABLE MR.JUSTICE JAYANT PATEL

HONOURABLE MR.JUSTICE Z.K.SAIYED

 

 

S.NO.

Name of the Petitioner

Advocate On Record

1
2
3

KONEE MEDITECH PVT LIMITED
RAGESH SHAH CHAIRMAN & MANAGING DIRECTOR
HEMA RAGESH SHAH CHAIRMAN & DIRECTOR KMP LIMITED

MR K R MISHRA for: Appellant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1 - 3

 

 

S.NO.

Name of the Respondant

Advocate On Record

1

GUJARAT NARMADA VALLEY FERTILIZERS CO LIMITED

RULE SERVED for :Defendant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1
MR KASHYAP R JOSHI for :Defendant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 

 

 

Presented On

: 02/02/2013

Registered On

: 05/04/2013

Bench Category

: DIVISION BENCH

District

: BHARUCH

Case Originated From

:THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 4 times

 

StageName

: ADMISSION - CA

 

Office Objection

FilingStage
Filing Stage

WHETHER PROPER & FULL COURT FEE IS PAID?

WHETHER THE CLAIM FOR COURT FEES & JURISDICTION STATED AND EXPLAINED ?

Classification

DB - FIRST APPEAL - CODE OF CIVIL PROCEDURE, 1908 - RECOVERY DEBTS/DUES/MONEY - OTHER DEBTS

Act

CIVIL PROCEDURE CODE, 1908

 

LowerCourt Details

 

S.No.

LowerCourt

CaseDetail

LowerCourtName

JudgeName

Judgmentdate

1

SCS/190/2002

DISTRICT COURT, BHARUCH

K.R.RABARI-JT DIST. JUDGE & ADDL. SESSIONS JUDGE

26/07/2012

Office Details

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

02/02/2013

VAKALATNAMA

MR K R MISHRA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR K R MISHRA:1-3

2

02/02/2013

CERTIFIED COPY

MR K R MISHRA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

12

MR K R MISHRA:1-3

3

13/02/2013

MEMO OF APPEAL/PETITION/SUIT

MR K R MISHRA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

15000

MR K R MISHRA:1-3

4

05/04/2013

VAKALATNAMA

MR K R MISHRA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR K R MISHRA:1-3

5

05/04/2013

VAKALATNAMA

MR KASHYAP R JOSHI ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR KASHYAP R JOSHI:1

6

29/04/2013

VAKALATNAMA

MR KASHYAP R JOSHI ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR KASHYAP R JOSHI:1

 

Applications

 

S. No.

CaseDetail

Status Name

Disposal Date

Action/Coram

1

CIVIL APPLICATION/2053/2013

DISPOSED

02/04/2013

CA DISPOSED OF

HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

 

HONOURABLE MR.JUSTICE J.B.PARDIWALA

Court Proceedings

S. No.

Notified Date

Court

Code

Board Sr. No.

Stage

Action

Coram

1

08/04/2013

1

6

FOR REMOVAL OF OFFICE OBJECTIONS

NEXT DATE

HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

HONOURABLE MR.JUSTICE J.B.PARDIWALA

2

29/04/2013

1

37

LIMITED INTERIM ORDER

NEXT DATE

HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

HONOURABLE MR.JUSTICE J.B.PARDIWALA

3

11/06/2013

4

37

ADMISSION - CA

 

HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

HONOURABLE MR.JUSTICE JAYANT PATEL and HONOURABLE MR.JUSTICE Z.K.SAIYED and HONOURABLE MR.JUSTICE J.B.PARDIWALA

            Available Orders

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

1

FIRST APPEAL/880/2013

HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

HONOURABLE MR.JUSTICE J.B.PARDIWALA

08/04/2013

N

ORDER

-

2

FIRST APPEAL/880/2013

HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA 

HONOURABLE MR.JUSTICE J.B.PARDIWALA

29/04/2013

N

ORDER

-

3

FIRST APPEAL/879/2003

HONOURABLE MR.JUSTICE M.D. SHAH

22/10/2013

N

ORDER

-

 

 

YEAR IN RETROSPECT

 

The company achieved sales turnover of Rs.48471.900 Millions compared to Rs.42525.700 Millions in the previous Financial Year, registering an increase of 13.98%. The turnover was higher mainly on account of increased volume of production and increased sales realization. Profit Before Tax was higher at Rs.4238.300 Millions as against Rs.4224.000 Millions of the previous financial year. Profit After Tax was Rs.2922.700 Millions as against Rs.2731.100 Millions of the previous financial year.

 

 

PERFORMANCE REVIEW

 

The year 2013-14 was one of the challenging year for chemical business in the country due to overall cost  increase and moderate industrial growth coupled with increased competition due to free flow of material from international markets. The company has to sell its products keeping parity in prices with imports.

 

In order to get an edge over competition, a strategy had been formulated by your company during the year to excel both in production and marketing of its products. Keeping this strategy in mind, concerted efforts were made to achieve highest production levels in most of the products with optimum cost. Accordingly, various all-time best records were established during 2013-14.


OUTLOOK:

 

In the past few years, the Company adopted the strategy of expanding the capacities of various plants which has resulted into optimum utilization of assets with minimum investment. Business of the company is being consolidated. Company is continuously looking for growth avenues and has identified certain projects for further expansion in the capacities of various products and for the operational cost reduction

 

 

UNAUDITED FINANCIAL RESULTS FOR THE    QUARTER ENDED 30TH JUNE 2014

 

(Rs. In Millions)

Particulars

Quarter Ended

( Unaudited)

Quarter Ended

( Unaudited)

Half Year Ended

( Unaudited)

 

30.09.2014

30.06.2014

30.09.2014

 

 

 

 

1. Income from operations

 

 

 

a) Net sales/ Income from operation (net of excise duty)

12935.800

10132.300

23068.100

b) Other operating income

0.000

0.000

0.000

Total income from Operations(net)

12935.800

10132.300

23068.100

2.Expenditure

 

 

 

a) Cost of material consumed

7472.100

6029.700

13501.800

b) Purchases of stock in trade

533.600

515.600

1049.200

c) Changes in inventories of finished goods, work-in-progress and stock-in-trade

1378.700

1253.400

2632.100

d) Employees benefit expenses

589.000

10.300

599.300

e) Depreciation and amortization expenses

1073.000

721.500

1794.400

 

519.500

512.800

1032.400

f) Other expenditure

1169.100

1070.700

2239.700

Total expenses

12735.000

10114.000

22848.900

3. Profit from operations before other income and financial costs

200.800

18.300

219.200

4. Other income

138.700

100.700

237.400

5. Profit from ordinary activities before finance costs

339.500

119.000

456.600

6. Finance costs

641.200

618.000

1259.200

7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items

(301.700)

(499.000)

(802.600)

8. Exceptional item

0.000

0.000

0.000

9. Profit from ordinary activities before tax Expense:

(301.700)

(499.000)

(802.600)

10.Tax expenses

0.000

0.000

0.000

11.Net Profit / (Loss) from ordinary activities after tax (9-10)

(301.700)

(499.000)

(802.600)

12.Extraordinary Items (net of tax expense)

0.000

0.000

0.000

13.Net Profit / (Loss) for the period (11 -12)

(301.700)

(499.000)

(802.600)

14.Paid-up equity share capital (Nominal value Rs.10/- per share)

1554.200

1554.200

1554.200

15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year

 

 

 

Reserves excluding Revaluation Reserves

 

 

 

Earnings per share (before extraordinary items)

 

 

 

(of Rs. 10/- each) (not annualised)

 

 

 

(a) Basic (Rs.)

(1.95)

(3.21)

(5.16)

(b) Diluted (Rs.)

(1.95)

(3.21)

(5.16)

Earnings per share (after extraordinary items)

 

 

 

(of Rs. 10/- each) (not annualised)

(1.95)

(3.21)

(5.16)

(a) Basic (Rs.)

(1.95)

(3.21)

(5.16)

(b) Diluted (Rs.)

 

 

 

 

 

 

 

A. PARTICULARS OF SHAREHOLDING

 

 

 

1. Public Shareholding

 

 

 

- Number of shares

91323830

91293830

91323830

- Percentage of shareholding

58.76%

58.74%

58.76%

2. Promoters and Promoters group Shareholding-

 

 

 

a) Pledged /Encumbered

 

 

 

Number of shares

-

-

-

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

-

-

-

Percentage of shares (as a % of total share capital of the company)

-

-

-

 

 

 

 

b) Non  Encumbered

 

 

 

Number of shares

64003713

64003713

64003713

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

100.00%

100.00%

100.00%

Percentage of shares (as a % of total share capital of the company)

41.18%

41.18%

41.18%

 

 

 

 

B. Investor Complaints

 

 

 

Pending at the beginning of the quarter

 

0

 

Receiving during the quarter

 

175

 

Disposed of during the quarter

 

0

 

Remaining unreserved at the end of the quarter

 

175

 

 

 

SOURCES OF FUNDS

 

 

 

30.09.2014

(Unaudited)

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

1,554.200

(b) Reserves & Surplus

 

 

26,965.700

(c) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Deferred Income (Grant from Government of India)

 

 

11,547.800

Total Shareholders’ Funds (1) + (2)

 

 

40,067.700

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

14,138.100

(b) Deferred tax liabilities (Net)

 

 

3,295.500

(c) Other long term liabilities

 

 

0.000

(d) long-term provisions

 

 

881.000

Total Non-current Liabilities (3)

 

 

18,314.600

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

11,462.700

(b) Trade payables

 

 

2,294.500

(c) Other current liabilities

 

 

10,769.100

(d) Short-term provisions

 

 

668.400

Total Current Liabilities (4)

 

 

25,194.700

 

 

 

 

TOTAL

 

 

83,577.000

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

48,905.800

(ii) Intangible Assets

 

 

0.000

(iii) Capital work-in-progress

 

 

0.000

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

1,371.500

(c) Deferred tax assets (net)

 

 

0.000

(d)  Long-term Loan and Advances

 

 

1,882.500

(e) Other Non-current assets

 

 

7,294.500

Total Non-Current Assets

 

 

59,454.300

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

0.000

(b) Inventories

 

 

7,239.000

(c) Trade receivables

 

 

8,530.000

(d) Cash and cash equivalents

 

 

163.900

(e) Short-term loans and advances

 

 

2,434.000

(f) Other current assets

 

 

5,755.800

Total Current Assets

 

 

24,122.700

 

 

 

 

TOTAL

 

 

83,577.000

 

 

UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED

(Rs. In Millions) 

Particulars

Quarter Ended

( Unaudited)

Quarter Ended

( Unaudited)

Half Year Ended

( Unaudited)

 

30.09.2014

30.06.2014

30.09.2014

1 Segment Revenue:

 

 

 

A. Fertilizers

6480.600

4488.300

10968.900

B. Chemicals

6262.000

5396.700

11648.700

C. Others

203.200

247.300

450.500

Total

12945.800

10132.300

23068.100

Less: Inter Segment Revenue

0.000

0.000

0.000

Net Sales / Income from Operations

12945.800

10132.300

23068.100

 

 

 

 

2 Segment Results:

 

 

 

{Profit before Tax & Finance Cost from each segment}

 

 

 

A. Fertilizers

(213.100)

(247.700)

(460.700)

B. Chemicals

405.400

263.800

669.200

C. Others

59.900

29.500

89.400

Total

252.200

45.600

297.900

Less:      (i)   Finance Cost

841.200

618.000

1259.200

(ii) Other Unallocable Expenditure

50.500

27.300

77.800

(iii) Unallocable Income

(135.800)

(100.700)

(236.500)

Total Profit Before Tax

(303.700)

499.000

(802.600)

 

 

 

 

3 Capital Employed:

 

 

 

(Segment Assets - Segment Liabilities)

 

 

 

A. Fertilizers

22007.700

25362.800

22007.700

B. Chemicals

31770.700

31945.000

31770.700

C. Others

476.200

447.300

476.200

D. Unallocated assets / (liabilities) (net)

(25734.700)

(29000.100)

(25734.700)

Total

28519.900

28755.000

28519.900

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10384762

27/06/2013 *

15,050,000,000.00

SBICAP Trustee Company Limited

202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai, Maharashtra - 400005, India

B80007164

2

10270315

28/02/2012 *

11,545,300,000.00

SBICAP Trustee Company Limited

202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai, Maharashtra - 400005, India

B34378125

3

10178704

26/09/2009

800,000,000.00

Dena Bank

Manilal Chambers, Alkapuri, Vadodara, Gujarat - 390005, India

A70984190

4

80004923

23/02/1999

655,800,000.00

Bank Of Baroda

Bharuch, Bharuch, Gujarat - 392015, India

-

5

90109781

13/02/2002 *

937,000,000.00

Bank Of Baroda

Indl Estate Branch, Opp. Shital Gueat House; Old
N.H. No. 8, Bharuch, Gujarat - 395001, India

-

6

80052774

30/03/1998

34,000,000.00

State Bank Of India

Station Road, Bharuch, Gujarat - 392001, India

-

7

90109682

13/10/1997

180,000,000.00

Bank Of Baroda

Indl. Estate Branch, Opp. Shital Gueat House; Old N.H. No. 8, Bharuch, Gujarat, India

-

8

90103695

27/09/2014 *

12,000,000,000.00

Bank of Baroda

GNFC Complex Branch, P.O. Narmadanagar-392 015, District Bharuch, Gujarat - 392015, India

C28624351

9

80004914

31/12/1996

61,950,000.00

Bank Of Baroda

Bharuch, Bharuch, Gujarat - 392015, India

-

10

90109371

31/03/1997 *

89,000,000.00

Bank Of Baroda

Indl Estate Branch, Opp. Shital Gueat House; Old
N.H. No. 8, Bharuch, Gujarat - 395001, India

-

11

80052772

21/12/1995 *

79,000,000.00

Bank Of Baroda

Industrial Estate Branch, Opp. Shital Guest House, Old N. H. No. 8, Bharuch, Gujarat - 392001, India

-

12

80052771

22/03/1990

4,600,000.00

American Express Bank Limited

364, Oriental Building, D.N. Road, Mumbai, Maharashtra - 400021, India

-

13

80052765

26/07/1989

100,000,000.00

Unit Trust Of India

13, Sir Vithaldas Thakersey Marg, Mumbai, Maharashtra - 400020, India

-

14

80052769

26/07/1989

3,000,000.00

Oriental Insurance Company Limited

Oriental House, A-25/27, Asaf Ali Road, New Delhi, Delhi - 110002, India

-

15

80052761

03/11/1988 *

10,000,000.00

General Insurance Corporation Of India

Industrial Assurance Building, Churchgate, Mumbai, Maharashtra - 400020, India

-

16

80052758

30/04/1987

71,400,000.00

State Bank Of India

Station Road, Bharuch, Gujarat - 392001, India

-

17

80052759

30/04/1987

57,200,000.00

Punjab National Bank

Lallubhai Chakla, Bharuch, Gujarat -  392001, India

-

18

80052760

30/04/1987

6,855,000.00

State Bank Of Saurashtra

Vada Pada , Bharuch, Gujarat - 392001, India

-

19

80052756

13/04/1987

10,000,000.00

United Commercial Bank

Sati Street, Bharuch, Gujarat - 392001, India

-

20

80052757

13/04/1987

10,000,000.00

United Commercia Bank

Sati Street, Bharuch, Gujarat - 392001, India

-

21

80052755

20/03/1987

6,400,000.00

Allahabad Bank

Rajmahal Road, Baroda, Gujarat - 390001, India

-

22

80052794

28/06/1986

83,800,000.00

State Bank Of India

Station Road, Bharuch, Gujarat - 392001, India

-

23

80052795

28/06/1986

83,800,000.00

State Bank Of India

Station Road, Bharuch, Gujarat - 392001, India

-

24

80052776

24/05/1986

32,200,000.00

Punjab National Bank

Lallubhai Chakla, Bharuch, Gujarat -  392001, India

-

25

80052793

24/05/1986

32,200,000.00

Punjab National Bank

Lallubhai Chakla, Bharuch, Gujarat -  392001, India

-

26

80052790

17/05/1986

9,600,000.00

State Bank Of Saurashtra

Vada Pada , Bharuch, Gujarat - 392001, India

-

27

80052792

17/05/1986

9,600,000.00

State Bank Of Saurashtra

Vada Pada , Bharuch, Gujarat - 392001, India

-

28

80052787

10/05/1986

15,000,000.00

Central Bank Of India

Juna Bazar, Bharuch, Gujarat - 392001, India

-

29

80052788

10/05/1986

6,160,000.00

Indian Bank

Shalimar Complex, Station Road, Bharuch, Gujarat
- 392001, India

-

30

80052785

05/05/1986 *

48,200,000.00

Bank of India

Juna Bazar, Bharuch, Gujarat - 392001, India

-

31

80052786

05/05/1986 *

48,200,000.00

Bank of India

Juna Bazar, Bharuch, Gujarat - 392001, India

-

32

80052784

25/04/1986

3,200,000.00

Syndicate Bank

Panch Batti, Bharuch, Gujarat - 392001, India

-

33

80052782

02/08/1985

17,500,000.00

The Industrial Credit And Investment Corporation Of India Limited

163, Backbay Reclamation, Mumbai, Maharashtra - 400020, India

-

34

80052780

08/02/1980 *

30,000,000.00

Indian Overseas Bank

151, Mount Road, Channai, Tamil Nadu - 600002, India

-

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.87

UK Pound

1

Rs.97.69

Euro

1

Rs.77.37

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAR

 

 

Analysis Done by :

NYA

 

 

Report Prepared by :

VNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILIRY

1~10

8

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

7

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--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

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

68

 

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

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.