MIRA INFORM REPORT

 

 

Report No. :

315494

Report Date :

01.04.2015

 

IDENTIFICATION DETAILS

 

Name :

SHREE GANESH REMEDIES PRIVATE LIMITED

 

 

Registered Office :

Plot No.6011, GIDC Estate, Near Aventis Pharma, Ankleshwar-393002, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

27.04.1995

 

 

Com. Reg. No.:

04-025661

 

 

Capital Investment / Paid-up Capital :

Rs.10.992 Million

 

 

CIN No.:

[Company Identification No.]

U24230GJ1995PTC025661

 

 

IEC No.:

3405004454

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAPFS3199F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Importer and Exporter of Pharmaceuticals, Intermediates, Fine Chemicals.

 

 

No. of Employees :

43 (Approximately) (In Office – 8  and In Factory - 35)

 

 

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

 

Maximum Credit Limit :

USD 335000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

It is an established company having satisfactory track.

 

Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct.

 

The company can be considered for small to mediocre 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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

 

Rating Agency Name

CRISIL - SME

Rating

SE 3B

Rating Explanation

Moderate financial strength and moderate performance capability

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 PARTED BY

 

Name :

Mr. Chandubhai Manubhai Kothia

Designation :

Director

Contact No.:

91-9328301671

Date :

30.03.2015

 

 

LOCATIONS

 

Registered Office / Factory 1 :

Plot No.6011, GIDC Estate, Near Aventis Pharma, Ankleshwar-393002, Gujarat, India

Tel. No.:

91-2646-221564/ 227777/ 327778

Mobile No.:

91-9328301671 (Mr. Chandubhai Manubhai Kothia)

Fax No.:

91-2646-226422

E-Mail :

ashoksamani@yahoo.co.in

chandu.kothia@ganeshremedies.com  

hardikkakadiya@yahoo.com

Website :

http://www.ganeshremedies.com

Area :

103000 Sq. ft.

Location :

Owned

 

 

Factory2 :

303/C16, Tulsikunj Society, GIDC Estate, Ankleshwar, Bharuch-393002, Gujarat, India

Tel. No.:

91-264-251059

Area :

3168 Sq. ft.

Location :

Leased 

 

 

DIRECTORS

 

As on: 27.09.2014

 

Name :

Mr. Chandubhai Manubhai Kothia

Designation :

Director

Address :

303/C16, Tulsikunj Society, GIDC Estate, Ankleshwar, Bharuch-393002, Gujarat, India

Date of Birth/Age :

01.12.1962

Qualification :

M.SC, D.Pharam

Experience :

22 Years

Date of Appointment :

27.04.1995

DIN No.:

00652806

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24230GJ1995PTC025661

SHREE GANESH REMEDIES PRIVATE LIMITED

Managing director

27-04-1995

27-04-1995

-

Active

NO

2

U73100GJ2005PLC046186

ANKLESHWAR RESEARCH AND ANALYTICAL INFRASTRUCTURE LIMITED

Director

29-06-2011

15-02-2007

-

Active

NO

3

U45300GJ1997PLC032696

BHARUCH ENVIRO INFRASTRUCTURE LIMITED

Director

24-09-2010

13-08-2010

27-06-2011

Active

NO

4

U72200GJ1994PLC023786

ENVIRO TECHNOLOGY LIMITED

Director

24-09-2010

13-08-2010

27-06-2011

Active

NO

5

U99999GJ2000NPL037236

NARMADA CLEAN TECH

Nominee director

27-09-2010

27-09-2010

26-07-2011

Active

NO

6

U24100GJ2010PTC063225

SHREE GANESH PIGMENTS PRIVATE LIMITED

Director

12-12-2010

12-12-2010

-

Active

NO

7

AAC-1801

PRAHARIT PIGMENTS LLP

Designated Partner

15-03-2014

15-03-2014

-

Active

NO

 

 

Name :

Mr. Hasmukh Manubhai Kothia

Designation :

Director

Address :

406/15, Sardar Patel Society, GIDC Estate, Ankleshwar, Bharuch-393002, Gujarat, India

Date of Birth/Age :

01.07.1955

Qualification :

B.Sc., D. Pharm.

Experience :

22 Years

Date of Appointment :

27.04.1995

DIN No.:

01076206

 

 

Name :

Mr. Ashokkumar Manubhai Kothia

Designation :

Director

Address :

4, Navjeevan Co-operative Housing Society, GIDC, Estate, Ankleshwar, Bharuch-393002, Gujarat, India

Date of Birth/Age :

01.06.1969

Qualification :

B.Sc.

Experience :

22 Years

Date of Appointment :

27.04.1995

DIN No.:

01076171

 

 

KEY EXECUTIVES

 

Name :

Ms. Dipali Kothiya

Designation :

Practicing Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on: 27.09.2014

 

NOTE:  SHAREHOLDING DETAILS FILE ATTACHED.

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 27.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Importer and Exporter of Pharmaceuticals, Intermediates, Fine Chemicals.

 

 

Products :
  • Pharmaceuticals,
  • Intermediates,
  • Fine Chemicals.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :
  • DMPC 65%
  • Trityl Chloride
  • HAD (2,4-Hexadiaenyl Acetate) 

Countries :

UK

 

 

Imports :

 

Products :
  • 1-Bromo 3- Chloropropane
  • Fluorobenzene

Countries :
  • France
  • China

 

 

Terms :

 

Selling :

Cash and Credit  (30/60 Days)

 

 

Purchasing :

Cash and Credit (60 Days)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Viswaat Chemicals limited

Address:

7, Satsang Complex, Upper Govingnagar, Malad (East), Mumbai, Maharashtra, India

Name of the Person :

Mr. Vinesh Shetty

Contact No.:

91-22-28740365

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

Reference :

Nutron Pharmaceuticals Private limited

Address:

Hindustan Speciality Chemicals, 401, Earth Sampann Building, 4th Floor, 198/200, khetwadi Main Road, Corner of 10th Khetwadi Lane, Mumbai – 400004, Maharashtra, India 

Name of the Person :

Mr. Manish

Contact No.:

91-22-66569999

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

Reference :

Ramnik Trading Corporation

Address:

Manan Bunglow Compound, Near Central Bank of India, Ambavadi, Ahmedabad, Gujarat, India

Name of the Person :

Mr. Hireshbhai (Branch Manager)

Contact No.:

91-8980000625

91-79-26445614

Since How Long Known :

10 Years (also doing business with sister concern).

Maximum Limit Dealt :

Rs. 4.000 to 5.000 Million (monthly)

Experience :

Good

Remark:

As claimed by Mr. Hitesh Kantharia, Company having good track record in their business transaction on time they paying their dues around 45 to 60 days credit limit they have but before that they cleared their dues

 

Reference :

Chemieorganic Chemicals India Private Limited

Address:

Plot No. 758, GIDC Jhagadia, Fact: 758, District Bharuch, India

Name of the Person :

Mr. Yashwant Bhogale (Sales Manager)

Contact No.:

91-22-26114891

Since How Long Known :

6 to 7 months

Maximum Limit Dealt :

Rs. 6.300 Million (up to till date)

Experience :

Good

Remark:

Company is a good company cleared their dues on time, have stable positive in market.

 

Reference :

Balaji Formulations Private Limited

Address:

Plot No. A4, Industrial Estate, moulali, Hyderabad, India

Name of the Person :

Mr. V. Vashudev

Contact No.:

91-40-65223455

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users

Reference :

Lupin Limited - Dabhasa

Address:

Block 21, Dabhasa, Taluka Padra, on Vadodara – Jambusar Road Sh 6, Vadodara, Gujarat, India

Name of the Person :

Mr. Haresh Pandya

Contact No.:

91-2662-306340

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

Reference :

RPG Life Sciences limited

Address:

35, MIDC Land Pawne Village Navi Mumbai, Maharashtra, India

Name of the Person :

Mrs. Sejal (Senior Executive purchase)

Contact No.:

91-22-67955271

Since How Long Known :

2 Years

Maximum Limit Dealt :

Rs. 5.000 Million (Yearly)

Experience :

Good

Remark:

As claimed by Ms. Sejal that the subject is good company their product quality is good before one week they delivered the product.

 

Reference :

Sun Pharma Advanced Research Company Limited

Address:

F.P. 27, Part Survey No.27, C.S. No. 1050, Village Tandalja, Vadodara, Gujarat, India

Name of the Person :

Mr. Choksi

Contact No.:

91-265-6615500

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

Reference :

Rusen Pharma Limited

Address:

Plot No. 6406, GIDC Estate, Ankleshwar, Gujarat, India

Name of the Person :

Mr. Hemant

Contact No.:

91-8758528865

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

Reference :

Jaydev Chem Industries

Address:

Plot No. 502/19, GIDC Industrial Estate,  Ankleshwar, Gujarat, India

Name of the Person :

Mr. Manish Babaria (partner)

Contact No.:

91-9979898077

Since How Long Known :

3 years

Maximum Limit Dealt :

Rs. 5.000 Million (Yearly)

Experience :

Good

Remark:

It’s a good company delivery behavior is on time, quality is also good.

 

 

No. of Employees :

43 (Approximately) (In Office – 8  and In Factory - 35)

 

 

Bankers :

Bank Name

Axis Bank Limited

Branch

GIDC Ankleshwar, Gujarat, India

Person Name (With Designation)

Mr. Jitendra Hula (Branch Manager)

Contact Number

91-2646-226521

Name of Account Holder

Shree Ganesh Remedies Private Limited

Account Number

013010300013721

Account Since (Date/Year of Account Opening)

10 Years

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

CC - Rs. 29.000 Million

Account Operation

Satisfactory

Remarks (If any)

Satisfactory trade record they have, well known company, reputed company, very good business transaction they have.

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

From Bank

 

 

SIDBI term loan

0.192

1.207

SIDBI term loan

3.181

5.053

HDFC Car Loan 

0.878

0.000

HDFC Car Loan

0.000

0.050

 

 

 

SHORT TERM BORROWINGS

 

 

Axis Bank Limited

0.000

14.834

 

 

 

Total

4.251

21.144

 

Auditors :

 

Name :

J.R. Kakadiya and Company

Chartered Accountants

Address :

A-205, City Centre, Near Reshambhavan, Lal Darwaja Surat-395003, Gujarat, India

Tel. No.:

91-2646-238241

Mobile No.:

91-9925004220

E-Mail :

jrkakadiyaca@yahoo.com

PAN No:

AAEFJ8607Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Firm under common Control:
  • Shree Ganesh Chemicals

Address: Plot No.6715, GIDC Estate, Ankleshwar, District Bharuch-393002, Gujarat, India

Line of Business:  Manufacturing

 

  • Ashok Pharma Chem

Address: Plot No.6714-15, GIDC Estate, Ankleshwar, District Bharuch-393002, Gujarat, India

Line of Business:  Manufacturing

 

 

Firm of Relatives of Director
  • Ashok lmplex
  • Ganesh Corporation
  • Prahant Pigment LLP

 

 

Company under common Control:
  • Ankleshwar Research and Analytical Infrastructure Limited

 

 

Relative of the Director of the Company
  • Hasmukhbhai Kothia (HUF)
  • Ashokbhai Kothia (HUF)
  • Kelanbhai H Kothia (HUF)

 

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

Rs.10/- each

Rs.15.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1099226

Equity Shares

Rs.10/- each

Rs.10.992 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

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

10.992

10.992

10.992

(b) Reserves & Surplus

106.145

74.045

58.962

(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)

117.137

85.037

69.954

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

4.251

6.310

11.131

(b) Deferred tax liabilities (Net)

1.573

1.473

1.371

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

5.824

7.783

12.502

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

14.834

16.569

(b) Trade payables

5.588

8.420

12.469

(c) Other current liabilities

0.000

0.000

0.000

(d) Short-term provisions

16.609

8.336

11.452

Total Current Liabilities (4)

22.197

31.590

40.490

 

 

 

 

TOTAL

145.158

124.410

122.946

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

44.320

38.953

38.857

(ii) Intangible Assets

0.005

0.010

0.015

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.500

0.500

0.500

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1.751

1.966

1.525

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

46.576

41.429

40.897

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

31.422

33.231

24.639

(c) Trade receivables

22.569

35.128

43.959

(d) Cash and cash equivalents

27.854

0.763

1.766

(e) Short-term loans and advances

16.737

13.859

11.685

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

98.582

82.981

82.049

 

 

 

 

TOTAL

145.158

124.410

122.946

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

183.481

127.808

151.478

 

 

Other Income

7.861

5.781

4.526

 

 

TOTAL                                     (A)

191.342

133.589

156.004

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

91.342

70.086

104.365

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(0.487)

(4.807)

(17.251)

 

 

Employees benefits expense

14.173

12.599

9.289

 

 

Other expenses

32.189

25.421

28.306

 

 

TOTAL (B)

137.217

103.299

124.709

 

 

 

 

 

Less

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

54.125

30.290

31.295

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

1.206

2.552

2.547

 

 

 

 

 

 

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

52.919

27.738

28.748

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

5.398

5.416

5.250

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

47.521

22.322

23.498

 

 

 

 

 

Less

TAX                                                                  (H)

15.420

7.240

7.625

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

32.101

15.082

15.873

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

65.766

50.684

34.811

 

 

 

 

 

 

Earnings Per Share (Rs.)

29.20

13.72

15.33

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

17.50

11.80

10.48

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

29.50

23.70

20.66

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

32.85

18.01

19.19

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.41

0.26

0.34

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.04

0.25

0.40

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

4.44

2.63

2.03

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

10.992

10.992

10.992

Reserves & Surplus

58.962

74.045

106.145

Net worth

69.954

85.037

117.137

 

 

 

 

long-term borrowings

11.131

6.310

4.251

Short term borrowings

16.569

14.834

0.000

Total borrowings

27.700

21.144

4.251

Debt/Equity ratio

0.396

0.249

0.036

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

151.478

127.808

183.481

 

 

(15.626)

43.560

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

151.478

127.808

183.481

Profit

15.873

15.082

32.101

 

10.48%

11.80%

17.50%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

Yes

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last 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

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

21]

Market information

--

22]

Litigations that the firm / promoter involved in

--

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

--

26]

Buyer visit details

--

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

WORKING AND OPERATIONS:

 

Quality is of utmost priority to Ganesh Group of Industries. Every year the company strives to improve one step further in the process of improving quality adherence measures. This year we have installed Glass line receiving system with the old material charging receiver system.

 

For a maintaining consistent quality benchmarks and to meet with the European and Japanese standards. The company has installed stare of the art imported Gas Chromatographer manufactured by Shimadzu (Asia Pacific) Private Limited Singapore. The company is now equipped with 2 Gas Chromatographers, earlier was purchased from Agilent Technologies Singapore Private Limited. The iterations for quality testing would now not require queuing and would result in prompt delivery of results.

 

 

The company has also taken care of its HSS (Health Safety 8 Security) Standards For furtherance of this initiative the company has installed a Graphite condensing system replacing the glass condensing system. The graphite condensing system is compact and fits in any place and has given better results ensuring safety of the product, people and place of manufacturing.

 

For fast efficient and effective recovery of Methylcyclopropene (MCP) we have modified the equipment design by installing an effective condensing system capable of processing 15 cubic meters of liquid at a time.

 

During the year, the company has also successfully developed new molecules in Fine Chemicals. Besides, the company had also undertaken job work from outside India. On this account, the company's business has grown since last year. However, specifically on account of job work, the company's Gross Margin and resultant profitability had improved. It is to be noted, that this export job work may or may not occur in near future.

 

 

TRADE REFERENCE:

 

  • Syntor Fine Chemicals limited
  • PPC Sas

 

 

NOTE:

 

The registered address of the company has been shifted from Plot No. 6715 GIDC, Estate Ankleshwar District Bharuch, Gujarat – 393002, India to the present address w.e.f 25.04.2007 

 

 

INDEX OF CAHREGS:  NO INDEX OF CHARGES

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

Bank Guarantee to Gujarat Gas Company Limited

0.400

 

0.400

 

FIXED ASSETS:

 

  • Plant and Machinery
  • Electrical Installation
  • ETP Machinery
  • Gas Connection
  • Computer
  • Air Conditioner
  • Motor Car
  • Factory Building
  • Mobile Instrument
  • Vehicles
  • Cycles
  • Swift Dezire
  • Toyota Innova

 

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 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.62.59

UK Pound

1

Rs.92.46

Euro

1

Rs.67.51

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

MTN

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--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

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

 

--

 

 

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.