MIRA
INFORM REPORT
|
Report Date : |
27.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROHA DYE CHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.08.1972 |
|
|
|
|
Com. Reg. No.: |
11-015941 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 34.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40300MH1972PTC015941 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14793C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR4974P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Food Colours,
Dyes and Intermediates etc. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
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|
Comments : |
Subject is an established company having satisfactory track record. The company has incurred loss from its operational activities during
financial year 2013. However, the rating takes into consideration RDPL’s
established market position as well as strong operational capabilities in the
food colours business and sound liquidity profile
of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for 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 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 = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
10.12.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
10.12.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Mariya |
|
Designation : |
Logistic Department |
|
Contact No.: |
91-22-28271933 |
|
Date : |
25.09.2014 |
LOCATIONS
|
Registered Office : |
12, |
|
Tel. No.: |
91-22-28271933 |
|
Mobile No.: |
91-9820207531 (Mr. Hasmukh Shah) |
|
Fax No.: |
91-22-28302531 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
MIDC, Plot No.
42, Dhatav, Roha,
Raigad-402116, Maharashtra, India |
|
Tel. No.: |
91-22-28271933 |
|
Fax No.: |
91-22-28302531/32 |
|
E-mail : |
|
|
Area: |
125 sq. yard |
|
Location : |
Leased |
|
|
|
|
Factory 2 /
Corporate Office / Administrative Office : |
Plot No. A/44-45,
Road No. 2, MIDC, Andheri (East), Mumbai-400093, Maharashtra, India |
|
Tel. No.: |
91-22-40773333 |
|
Fax No.: |
91-22-28302531/
32 |
|
Area: |
70000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Regional
Heads: |
Located At: |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ramakant Jagdishprasad Tibrewala |
|
Designation : |
Chairman |
|
Address : |
603, Panchsheel Gokuldham, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
21.09.1956 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.08.1979 |
|
PAN No. : |
ACDPT3596K |
|
DIN No.: |
01237898 |
|
|
|
|
Name : |
Mr. Srikant Jagdishprasad Tibrewala |
|
Designation : |
Director |
|
Address : |
503, Panchsheel Gokuldham, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
18.06.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
19.07.9182 |
|
PAN No. : |
AABPT3052A |
|
DIN No.: |
00197891 |
|
|
|
|
Name : |
Mr. Mahesh Ramakant Tibrewala |
|
Designation : |
Director |
|
Address : |
603/604, Panchsheel, Gokuldham, Goregaon (East), Mumbai - 400063, Maharashtra, India |
|
Date of Birth/Age : |
28.10.1986 |
|
Date of Appointment : |
31.08.2011 |
|
DIN No.: |
01342061 |
|
|
|
|
Name : |
Mr. Deepesh Shrikant Tibrewala |
|
Designation : |
Director |
|
Address : |
504, Panchsheel, Gokuldham, Goregaon (East), Mumbai - 400063, Maharashtra, India |
|
Date of Birth/Age : |
13.11.1986 |
|
Date of Appointment : |
31.08.2011 |
|
DIN No.: |
01342101 |
|
|
|
|
Name : |
Mr. Brijesh Ramakant Tiberwala |
|
Designation : |
Director |
|
Address : |
603/604, Panchsheel, Gokuldham, Goregaon (East), Mumbai - 400063, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1983 |
|
Date of Appointment : |
31.08.2011 |
|
PAN No. : |
ACOPT5814D |
|
DIN No.: |
02276831 |
KEY EXECUTIVES
|
Name : |
Ms. Mariya |
|
Designation : |
Logistic Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Ordinary Equity Share) |
|
No. of Shares |
|
Shrikant Tibrewala |
|
11640 |
|
Ramakant Tibrewala |
|
48598 |
|
Sushma Tibrewala |
|
34370 |
|
Mahesh Tibrewala |
|
33000 |
|
Brijesh Tibrewala |
|
36960 |
|
Haresh Tibrewala |
|
11000 |
|
Brijesh Ramakant HUF |
|
29302 |
|
Annapurna Tibrewala |
|
16720 |
|
Deepesh Tibrewala |
|
11066 |
|
Deepesh Shrikant HUF |
|
12244 |
|
Jagdish Prasad Ramakant
HUF |
|
100 |
|
TOTAL
[1] |
|
245000 |
|
|
|
|
|
Names of Shareholders (Class A- Equity Share) |
|
No. of Shares |
|
Shrikant Tibrewala |
|
3516 |
|
Ramakant Tibrewala |
|
14679 |
|
Sushma Tibrewala |
|
10381 |
|
Mahesh Tibrewala |
|
9967 |
|
Brijesh Tibrewala |
|
11164 |
|
Haresh Tibrewala |
|
3323 |
|
Brijesh Ramakant HUF |
|
8850 |
|
Annapurna Tibrewala |
|
5050 |
|
Deepesh Tibrewala |
|
3342 |
|
Deepesh Shrikant HUF |
|
3698 |
|
Jagdish Prasad Ramakant
HUF |
|
30 |
|
Ajay Devgan |
|
22000 |
|
Kumar Mangat Pathak
|
|
4000 |
|
TOTAL
[2] |
|
100000 |
|
|
|
|
|
TOTAL [1+2] |
|
345000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
92.46 |
|
Other top fifty shareholders |
7.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Food Colours,
Dyes and Intermediates etc. |
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Products : |
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Exports : |
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Products : |
Food Colours, Dyes and Intermediates |
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|
Countries : |
·
Europe ·
Middle East ·
Switzerland ·
New Zealand ·
Australia ·
US ·
UK ·
Gulf Country ·
Asian Country |
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|
|
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Imports : |
|
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|
Products : |
Raw Material |
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Countries : |
·
China ·
Australia |
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Terms : |
|
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Selling : |
Cash / Cheque |
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|
||||||||
|
Purchasing : |
Cash / Cheque |
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
·
The Ratnakar Bank
Limited, Shahupuri, Kolhapur-416001, Maharashtra, India ·
ING Vysya Bank Limited,
Mittal Towers, A-Wing, Ground Floor, 210, Nariman Point, Mumbai-400021, Maharashtra,
India ·
Bank of India, Sion
Branch, 29, Amba Bhavan, Laxmi Chowk, Sion Circle, Mumbai-400022, Maharashtra,
India ·
Indusind Bank Limited, Indusind House, 425, D.B. Marg,
Opera House, Mumbai-400004, Maharashtra, India ·
Bank of India, Andheri
Mid Corporate Branch, M.D.I Building, 28, 1st Floor, S.V. Road, Andheri (West),, Mumbai - 400058, Maharashtra,
India |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Finance Institution : |
IL and FS Trust Company Limited, IL and FS Financial Centre,
Plot No C22, G Block, Bandra Kurla
Complex, Bandra East, Mumbai - 400051, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road, Pune – 411001, Maharashtra, India |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Subsidiary Company
: |
· Roha Europe SLU · Roha (USA) LLC · Roha (France) SARL · Roha (Australia) Pty Limited · Roha (UK) Limited · Simpson (UK) Limited · Roha Specialities Incorporation Philipines · Roha SRL Itlayn · Roha Dyechem (HK) Limited · Roha Dyechem Indonesia · Roha Dyechem Vietnam Limited · Roha Dyechem Sanghai · Roha (Shanghai) Food Aditives Company Limited · Idacol Food Colours Maxico · Pt Roha Lautan Pewarna (Indonesia) · Roha Dyechem LLC, Russia · Idacol Russia LLC |
|
|
|
|
Associate : |
· Anchit Chemicals Private Limited · Filter Machines Private Limited · Indras Agencies Private Limited · Steinmetz Overseas Private Limited · Jagdish Textiles Private Limited · Adhik Chemicals Private Limited · Ideal Cures Private Limited · Well Worth Share and Stock Broking Private Limited · Eeshan Infosystem Private Limited · Jagdishprasad Tibrewala Parmarth Kosh · R.S Global Infotech Private Limited · Roha Infrastructure Private Limited · Statford Developers Private Limited formerly known as Ricossa Trading Private Limited · One up Realtors Private Limited · Roha Energy Private Limited · Roha Leasing and Financing Limited · Goyolene Fibres (India) Private Limited · Abhishek Dyechem Private Limited · Shree Khemisati Jan Kalyan Trust · Jagson Intermediates and Chemicals Private Limited · Shree Kamal Ispat Private Limited |
|
|
|
|
Joint Venture : |
· Roha Thailand Limited · Roha Dyechem Thailand Limited ·
Roha Asia Pacific
Thailand Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives |
Chemodist Industries |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
Rs.100/- each |
Rs.35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
345000 |
Equity Shares |
Rs.100/-
each |
Rs.34.500
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 |
34.500 |
34.500 |
24.500 |
|
(b) Reserves & Surplus |
3163.013 |
3213.451 |
2923.624 |
|
(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) |
3197.513 |
3247.951 |
2948.124 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2866.103 |
3050.280 |
604.719 |
|
(b) Deferred tax liabilities (Net) |
340.062 |
45.216 |
55.740 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.593 |
1.296 |
0.930 |
|
Total Non-current Liabilities (3) |
3207.758 |
3096.792 |
661.389 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1473.923 |
1105.390 |
671.055 |
|
(b) Trade payables |
544.227 |
472.315 |
482.102 |
|
(c) Other current
liabilities |
574.199 |
1112.373 |
212.279 |
|
(d) Short-term provisions |
48.482 |
37.528 |
36.417 |
|
Total Current Liabilities (4) |
2640.831 |
2727.606 |
1401.853 |
|
|
|
|
|
|
TOTAL |
9046.102 |
9072.349 |
5011.366 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3779.625 |
3888.568 |
624.695 |
|
(ii) Intangible Assets |
10.292 |
14.766 |
17.470 |
|
(iii) Capital
work-in-progress |
184.141 |
114.142 |
100.705 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1108.793 |
1108.948 |
547.590 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1145.845 |
916.239 |
1448.548 |
|
(e) Other Non-current assets |
398.369 |
38.500 |
82.500 |
|
Total Non-Current Assets |
6627.065 |
6081.163 |
2821.508 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
14.430 |
16.767 |
20.917 |
|
(b) Inventories |
768.800 |
781.292 |
688.706 |
|
(c) Trade receivables |
1419.245 |
1115.371 |
969.777 |
|
(d) Cash and cash
equivalents |
47.869 |
898.640 |
67.233 |
|
(e) Short-term loans and
advances |
152.989 |
120.768 |
438.712 |
|
(f) Other current assets |
15.704 |
58.348 |
4.513 |
|
Total Current Assets |
2419.037 |
2991.186 |
2189.858 |
|
|
|
|
|
|
TOTAL |
9046.102 |
9072.349 |
5011.366 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
2523.000 |
|
|
|
Other Income |
|
|
148.400 |
|
|
|
TOTAL |
4538.695 |
3601.513 |
2671.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
4266.705 |
3317.997 |
2442.300 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)BEFORE TAX |
271.990 |
283.516 |
229.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
300.528 |
(5.275) |
185.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(28.538) |
288.791 |
43.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of exports |
2720.974 |
2517.208 |
1793.200 |
|
|
|
Freight and insurance recovered |
59.137 |
57.344 |
0.000 |
|
|
|
Other Earnings |
22.507 |
23.938 |
0.000 |
|
|
TOTAL EARNINGS |
2802.618 |
2598.490 |
1793.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1217.007 |
1001.932 |
|
|
|
|
Spares, accessories, components etc. |
2.284 |
3.670 |
NA |
|
|
|
Capital Goods |
1.750 |
2.298 |
|
|
|
|
Others |
41.469 |
1.352 |
|
|
|
TOTAL IMPORTS |
1262.510 |
1009.252 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(110.36) |
837.10 |
176.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.63) |
8.02 |
1.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
9.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.51 |
3.61 |
5.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.09 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.36 |
1.28 |
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
1.10 |
1.56 |
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 |
24.500 |
34.500 |
34.500 |
|
Reserves & Surplus |
2923.624 |
3213.451 |
3163.013 |
|
Net worth |
2948.124 |
3247.951 |
3197.513 |
|
|
|
|
|
|
long-term borrowings |
604.719 |
3050.280 |
2866.103 |
|
Short term borrowings |
671.055 |
1105.390 |
1473.923 |
|
Total borrowings |
1275.774 |
4155.670 |
4340.026 |
|
Debt/Equity ratio |
0.433 |
1.279 |
1.357 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2671.400 |
3601.513 |
4538.695 |
|
|
|
34.817 |
26.022 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2671.400 |
3601.513 |
4538.695 |
|
Profit |
43.200 |
288.791 |
(28.538) |
|
|
1.62% |
8.02% |
(0.63%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
356.445 |
378.457 |
117.440 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Presentation Date : 14/06/2013 |
|||||||
|
Lodging No. : |
ITXAL/873/2013 |
Failing Date:- |
14/06/2013 |
Reg. No.:- |
ITXA/1442/2013 |
Reg. Date:- |
29/07/2013 |
|
|
|||||||
|
Petitioner:- |
COMMISSIONER OF INCOME TAX, CENTRAL |
Respondent:- |
ROHA DYE CHEM PRIVATE LIMITED |
||||
|
Petn.Adv:- |
ARVIND PINTO (0) |
Resp. Adv.: |
RAJESH SHAH AND COMPANY (0) |
||||
|
District:- |
MUMBAI |
||||||
|
|
|||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
|
||||
|
Last Date:- |
01.10.2014 |
|
|||||
|
Last Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
||||||
|
|
|
||||||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
|||||
BACKGROUND
Subject was incorporated in 1972. RDPL manufactures food colours, dyes and intermediates etc. The Company has its corporate office at Mumbai and manufacturing facility at Roha. The Company also has a branch in South Africa which is engaged in marketing and distribution of food colors. During the previous year, the Company has commissioned its 25MW solar power plant near Charnaka village in Patan district, northern Gujarat.
BUSINESS PERFORMANCE
The company has incorporated the results of South Africa by way of consolidation of line items.
The total revenue generated by the Company during the financial year was Rs 4538.600 Millions against Rs. 3601.500 Millions for the previous financial year 2011-12 showing an impressive growth of 26.02%. Profit before tax was Rs. 272.000 Millions against Rs 283.500 Millions during the last year. Provision for taxation at Rs 300.500 Millions is due to MAT credit entitlement and Deferred Tax charge which will be recovered over a period of time.
Despite continued economic slowdown your Company continue grew at a satisfactory rate.
EXPORTS
Exports grew from Rs. 2569.300 Millions during 2011-12 to Rs.3013.600 Millions during the financial year 2012-13 having a growth of 17.29%.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10484722 |
12/03/2014 |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - 400018, INDIA |
C00453936 |
|
2 |
10459672 |
14/10/2013 |
300,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI,KOLHAPUR,, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
B89333207 |
|
3 |
10463420 |
09/10/2013 |
950,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
B90814575 |
|
4 |
10461951 |
04/10/2013 |
350,000,000.00 |
INDUSIND BANK LIMITED. |
INDUSIND HOUSE, 425, D.B. MARG,, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA |
B90249186 |
|
5 |
10424832 |
20/04/2013 |
250,000,000.00 |
INDUSIND BANK LIMITED. |
DR. GOPAL DAS BHAWAN,, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B74815796 |
|
6 |
10318744 |
04/11/2011 |
210,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA |
B25705856 |
|
7 |
10298965 |
30/01/2012 * |
2,660,291,220.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B31074321 |
|
8 |
10286852 |
16/05/2011 |
200,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B12794152 |
|
9 |
10287015 |
28/02/2013 * |
150,000,000.00 |
ING VYSYA BANK LIMITED |
MITTAL TOWERS,A-WING,GROUND FLOOR,, 210 NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
B72921067 |
|
10 |
10058230 |
31/12/2013 * |
1,000,000,000.00 |
BANK OF INDIA |
ANDHERI MID CORPORATE BRANCH, M.D.I BUILDING,, 28, 1ST FLOOR, S.V. ROAD, ANDHERI (WEST),, MUMBAI, MAHARASHTRA - 400058, INDIA |
B94896461 |
|
11 |
80006638 |
17/06/2006 * |
300,000.00 |
BANK OF INDIA |
SION BRANCH, 29, AMBA BHAVAN,, SION CIRCLE, MUMBAI, MAHARASHTRA - 400022, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Plant and Machinery
- Equipments
- Vehicles
- Computer Software
- Storage Tanks
- Land wind mill
- Electrical installation
- Furniture and fixtures
- Data processing equipments
- Laboratory instruments
- Effluent plants
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.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.