MIRA
INFORM REPORT
|
Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CRODA INDIA COMPANY PRIVATE LIMITED (w.e.f 01.06.2013) |
|
|
|
|
Formerly Known
As : |
CRODA CHEMICALS ( |
|
|
|
|
Registered
Office : |
Plot No. 1/1 Part, TTC Industrial Area, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.07.1995 |
|
|
|
|
Com. Reg. No.: |
11-117141 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2114.465 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1995PTC117141 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing and trading of speciality
chemicals servicing a range of industries. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “CRODA INTERNATIONAL PLC. UK”. It is a
well-established company having fine track record. A reserve of the company is low. However, the rating reflects company’s improved operational
performance supported by healthy capital base and decent profitability
achieved by the company during financial year 2013. Further company gets good managerial and financial supported from its
parent company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of strong holding support, the company can be considered good
for normal business dealings at usual trade terms and conditions. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
29.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
29.01.2014 |
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 DECLINED BY
|
Name : |
Mr. Sunil Shah |
|
Designation : |
Director |
|
Contact No.: |
91-22-22658248 |
|
Date : |
23.09.2014 |
LOCATIONS
|
Registered Office : |
Plot No. 1/1 Part, TTC Industrial Area, Thane Belapur Road,
Koparkhairne, Navi Mumbai – 400710, Maharashtra, India |
|
Tel. No.: |
91-22-22658248 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Manufacturing
facility: |
Located At Thane |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Rupark Sarswat |
|
Designation : |
Managing director |
|
Address : |
C/ODR C V Sarswat House No. 11, Farm Society, 1 STS Colony,
Near Govt Collage Rajgarh Road, Solan – 173212, Himachal Pradesh, India |
|
Date of Birth/Age : |
19.02.192 |
|
Date of Appointment : |
26.09.2007 |
|
DIN No.: |
01667132 |
|
PAN No.: |
AVBPS4579G |
|
|
|
|
Name : |
Mr. Sunil kirit shah |
|
Designation : |
Director |
|
Address : |
21 A, Ocean Gold, Twin Towers Lane, Prabhadevi, Mumbai – 400025,
Maharashtra, India |
|
Date of Birth/Age : |
29.06.1956 |
|
Date of Appointment : |
24.10.1997 |
|
DIN No.: |
00594713 |
|
|
|
|
Name : |
Mr. David Edward Barraclough |
|
Designation : |
Director |
|
Address : |
Sandhill House, Market Weighton road, Snction, York YO434RB, United
Kingdom |
|
Date of Birth/Age : |
04.08.1954 |
|
Date of Appointment : |
05.01.2007 |
|
DIN No.: |
01194947 |
|
|
|
|
Name : |
Mr. Ritesh Gordhandas Tanna |
|
Designation : |
Director |
|
Address : |
202 KIM Seng Road, 3 30-08, Singapore 239496 |
|
Date of Birth/Age : |
11.03.1974 |
|
Date of Appointment : |
22.01.2008 |
|
DIN No.: |
01937732 |
|
|
|
|
Name : |
Mr. Graham Lloyd Myers |
|
Designation : |
Director |
|
Address : |
7 Swan Close, Deighton York, Y0196HY United Kingdom |
|
Date of Birth/Age : |
12.04.1963 |
|
Date of Appointment : |
28.09.2010 |
|
DIN No.: |
03186157 |
|
|
|
|
Name : |
Mr. Murali Krishna Duvvuri |
|
Designation : |
Whole-time director |
|
Address : |
303, Suparashav Apartments Sarvodaya Nagar, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1973 |
|
Date of Appointment : |
30.03.2012 |
|
DIN No.: |
05209383 |
|
PAN No.: |
ABYPD6205H |
KEY EXECUTIVES
|
Name : |
Renu Apurva Dangi |
|
Designation : |
Secretary |
|
Address : |
G 6, 1 : 2 Sharayu Co-Operative Housing Society, Sector – 29, Vashi –
400703, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1984 |
|
Date of Appointment : |
25.03.2011 |
|
PAN No.: |
APPPK6480A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Sunil Kirit Shah |
|
10 |
|
Croda International PLC, England |
|
1446467 |
|
Total |
|
1446477 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Croda International PLC, England |
|
1750 |
|
Total |
|
1750 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2013
|
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and trading of speciality
chemicals servicing a range of industries. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management
|
|
|
|
|
Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India · UTI Bank Limited, Vashi BR., Vardhaman Chambers Premises CS Limited Sector 17, Vashi, Navi Mumbai - 400705, Maharashtra, India · Standard Chartered Bank, 90, M G Road, Fort, Mumbai - 400001, Maharashtra, India ·
Standard Chartered Bank, 90, M G Road, Fort,
Mumbai - 400001, Maharashtra, India |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar MargShivaji Park, Dadar (West), Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP9359C |
|
|
|
|
Holding company: |
· Croda International Plc, U.K |
|
|
|
|
Subsidiary company: |
· PT Croda Indonesia |
|
|
|
|
Fellow Subsidiary
company: |
· Croda Europe Limited., U.K. · Croda Inc., U.S.A · Croda Singapore Pte. Limited., Singapore · Croda Japan K.K., Japan · Croda Trading (Shanghai) Company Limited., China · Croda Hong Kong Company Limited., Hong Kong · Croda Korea, U.K. · Croda (SA) Pty. Limited., South Africa · Croda Colombia, Columbia · Crodarom SAS, France · Sederma SAS, France · Croda Australia, Australia · Croda (Thailand) Company Limited., Thailand · Croda Iberica SA, U.K. · Croda do Brasil Ltda, Brazil · Croda China Trading Company Limited., China · Croda Poland Sp. z.o.o, Poland · Croda Netherlands B.V., Netherlands · Croda Overseas Holdings Ltd., U.K. · Croda Peruana S.A.C., Peru · Croda India Company Private Limited (formerly known as Croda Chemicals (India) Private Limited) |
|
|
|
|
Other Fellow
Subsidiaries with whom there were no transactions during the year: |
· AG Property Holdings Pty Limited, Australia · Brookstore Chemicals Limited, UK · Cowick Hall Trustees Limited, U.K. · Cowick Insurance Services Limited, U.K. · Croda (Goole) Limited, U.K. · Croda (CPI) Limited, U.K. · Croda Adhesives Europe SA, Belgium · Croda Application Chemicals Limited, U.K. · Croda Argentina S.A., Argentina · Croda Bakery Services Limited, U.K. · Croda Belgium BVBA, Belgium · Croda Bowmans Chemicals Limited, U.K. · Croda Canada Limited, Canada · Croda CE Limited, U.K. · Croda Chemicals Limited, U.K. · Croda Chile Ltda, Chile · Croda Chocques, France · Croda Colloids Limited, U.K. · Croda Cosmetics and Toiletries Limited, U.K. · Croda Cosmetics (Europe) Limited, U.K. · Croda Cremona SRL, Italy · Croda Distillates Limited, U.K. · Croda Enterprises Limited, UK · Croda Epc Thornton Pty Limited, Australia · Croda Finance Inc, United States · Croda Fire Fighting Chemicals Limited, U.K. · Croda Food Services Limited, U.K. · Croda France, France · Croda Gmbh, Germany · Croda Head Office Pty Ltd, Australia · Croda Holdings France Sas, France · Croda Hydrocarbons Limited, U.K. · Croda Inks Corp, United States · Croda Investments Inc, United States · Croda Investments Limited, UK · Croda Investments No 2 Limited, UK · Croda Italiana SPA, Italy · Croda Kimya Ticaret Limited Sirketi, Turkey · Croda Leek Limited, U.K. · Croda Limited, U.K. · Croda Magyarorszag Kft, Hungary · Croda Mexico, S.A. De C.V., Mexico · Croda Nordica AB, Sweden · Croda Pension Trustees Limited, UK · Croda Polymers International Limited, U.K. · Croda Resins Limited, UK · Croda Solvents Limited, UK · Croda Spol. S R.O., Czech Republic · Croda Storage Inc, United States · Croda Synthetic Chemicals Inc, United States · Croda Trustees Limited, U.K. · Croda Universal Limited, UK · Croda World Traders Limited, U.K. · Croda Zimbabwe (Pvt) Ltd, Zimbabwe · Crodamazon Ltda., Brazil · I.R.B SPA, Italy · John L.Seaton and Company Limited, U.K. · Mona Industries Inc, United States · Sederma Gmbh, Germany · Sederma, Inc., United States · Sowerby and Company Limited, UK · Southerton Investments Limited, U.K. · Technical and Analytical Services Limited, U.K. · Unicorn Power BV, Netherlands · Uniqema Americas LLC, United States · Uniqema B.V., Netherlands · Uniqema Limited, U.K. · Uniqema UK Limited, U.K. |
|
|
|
CAPITAL STRUCTURE
AFTER 27.09.2013
Authorised Capital : Rs. 2118.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1364.465
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.10/- each |
Rs. 18.000 Millions |
|
2100 |
Preference Shares |
Rs.1000000/- each |
Rs. 2100.0000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2118.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1446477 |
Equity Shares |
Rs.10/- each |
Rs. 14.465 Millions |
|
1750 |
Preference Shares |
Rs.1000000/- each |
Rs. 1750.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1764.465
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 |
2114.465 |
2114.465 |
714.465 |
|
(b) Reserves & Surplus |
652.480 |
81.315 |
122.490 |
|
(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) |
2766.945 |
2195.780 |
836.955 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
1400.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.161 |
1.212 |
0.546 |
|
(d) long-term provisions |
32.012 |
25.510 |
21.276 |
|
Total
Non-current Liabilities (3) |
32.173 |
26.722 |
1421.822 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
266.353 |
287.707 |
241.636 |
|
(c) Other current liabilities |
90.899 |
107.626 |
133.761 |
|
(d) Short-term provisions |
5.663 |
6.334 |
1.499 |
|
Total
Current Liabilities (4) |
362.915 |
401.667 |
376.896 |
|
|
|
|
|
|
TOTAL |
3162.033 |
2624.169 |
2635.673 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1192.882 |
1061.565 |
973.296 |
|
(ii) Intangible Assets |
5.929 |
6.578 |
301.273 |
|
(iii) Capital work-in-progress |
33.022 |
56.931 |
89.656 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
177.881 |
177.881 |
177.881 |
|
(c) Deferred tax assets (net) |
182.221 |
68.885 |
41.441 |
|
(d) Long-term Loan and Advances |
64.335 |
15.253 |
21.702 |
|
(e) Other Non-current assets |
0.051 |
0.169 |
160.727 |
|
Total
Non-Current Assets |
1656.321 |
1387.262 |
1765.976 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
312.081 |
289.488 |
297.084 |
|
(c) Trade receivables |
454.447 |
393.898 |
371.190 |
|
(d) Cash and cash equivalents |
682.448 |
510.812 |
137.802 |
|
(e) Short-term loans and
advances |
54.555 |
38.504 |
51.642 |
|
(f) Other current assets |
2.181 |
4.205 |
11.979 |
|
Total
Current Assets |
1505.712 |
1236.907 |
869.697 |
|
|
|
|
|
|
TOTAL |
3162.033 |
2624.169 |
2635.673 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2690.900 |
2361.500 |
2352.100 |
|
|
Other Income |
|
|
|
|
|
TOTAL
|
2690.900 |
2361.500 |
2352.100 |
|
|
|
|
|
|
|
|
EXPENSES |
2032.000 |
1862.600 |
1805.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
658.900 |
498.900 |
546.800 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
3.700 |
139.900 |
140.200 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
655.100 |
359.000 |
406.600 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
73.300 |
357.600 |
441.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
581.800 |
1.400 |
(35.200) |
|
|
|
|
|
|
|
|
TAX |
10.700 |
42.600 |
(9.400) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
571.200 |
(41.200) |
(25.700) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT |
(708.700) |
(667.500) |
(641.800) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(137.500) |
(708.700) |
(667.500) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
394.41 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
21.23 |
(1.74) |
(1.09) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.01 |
0.06 |
(1.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.00 |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.15 |
3.08 |
2.31 |
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 |
714.465 |
2114.465 |
2114.465 |
|
Reserves & Surplus |
122.490 |
81.315 |
652.480 |
|
Net
worth |
836.955 |
2195.780 |
2766.945 |
|
|
|
|
|
|
long-term borrowings |
1400.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1400.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
1.673 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2352.100 |
2361.500 |
2690.900 |
|
|
|
0.400 |
13.949 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2352.100 |
2361.500 |
2690.900 |
|
Profit |
(25.700) |
(41.200) |
571.200 |
|
|
(1.09%) |
(1.74%) |
21.23% |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: Registered office of the company has been shifted from 6 Fort, Vijay Society, 2nd Floor, 1/3 Gola Lane, Fort, Mumbai - 400001, Maharashtra, India to the present address w.e.f. 06.01.2012
OUTLOOK
Upside pressures on inflation, both at wholesale and retail levels, remain high stemming from elevated food inflation, ongoing administered fuel price revisions and volatility in exchange rates. FMCG markets are expected to grow; however, uncertain global economic environment, inflation and competitive intensity continue to pose challenges. While the near term conditions pose a challenge for the economy, the medium to longer term secular trends based on rising incomes, aspirations, low consumption levels, etc. are positive and an opportunity for the Company in particular.
GENERAL INFORMATION
Subject is a Company incorporated under the Companies Act, 1956 and having its registered office and manufacturing facility in Thane district in the state of Maharashtra. The Company is engaged in manufacturing and trading of speciality chemicals servicing a range of industries.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10113688 |
29/08/2013 * |
70,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60,MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASH TRA - 400001, INDIA |
B85505675 |
|
2 |
10038762 |
27/03/2012 * |
50,000,000.00 |
AXIS BANK LIMITED |
AXIS HOUSE, GROUND
FLOOR, BOMBAY DYEING MILLS COM |
B37063401 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Goodwill
· Computer software
· Licenses and franchise
· Licenses
· Know-how
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.60.87 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.