MIRA INFORM REPORT
|
Report No. : |
316972 |
|
Report Date : |
11.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SALVI CHEMICAL INDUSTRIES LIMITED (w.e.f. 21.09.2006) |
|
|
|
|
Formerly Known
As : |
SALVI CHEMICALS INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
214, Blue Rose Industrial Estate, Western Express Highway, Borivali
(East), Mumbai – 400066, Maharashtra |
|
Tel No.: |
91-22-28701438 / 49 / 50 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.10.2005 |
|
|
|
|
Com. Reg. No.: |
11-156633 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.85.151 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2005PLC156633 |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS0142E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Chemical, Bulk Drug and
Pharmaceuticals. |
|
|
|
|
No. of Employees
: |
325 (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 |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s established track record
of business operations supported by sound financial base and fair liquidity
profile of the company. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. Note: 23 AC document for the year 2014 are not available from any
source. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = B (Suspended) |
|
Rating Explanation |
Risk prone credit quality and carries very
high credit risk. |
|
Date |
30.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
30.05.2014 |
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. Ganesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-28701438 |
|
Date : |
10.04.2015 |
LOCATIONS
|
Registered Office : |
214, Blue Rose Industrial Estate, Western Express Highway, Borivali
(East), Mumbai – 400 066, Maharashtra, India |
|
Tel. No.: |
91-22-28701438 / 49 / 50 |
|
Fax No.: |
91-22-28703656 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Corporate Office : |
107-108, Western Edge II, Western Express Highway, Borivali (East),
Mumbai – 400066, Maharashtra, India |
|
|
|
|
Factory 1 : |
E - 93/94, MIDC Tarapur, Boisar, Thane, Maharashtra, India |
|
|
|
|
Factory 2 / R and D Unit : |
E - 90, MIDC Tarapur, Boisar, Thane, Maharashtra, India |
|
|
|
|
Factory 3 : |
E - 95, MIDC Tarapur, Boisar, Thane, Maharashtra, India |
|
|
|
|
Factory 4: |
E - 131, MIDC Tarapur, Boisar, Thane, Maharashtra, India |
|
|
|
|
Factory 5 : |
Also located at:
|
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Nirav Kantilal Salvi |
|
Designation : |
Director |
|
Address : |
B 108, Ashoka Tower, Kulupwadi Road, Borivali (East), Mumbai – 400066,
Maharashtra, India |
|
Date of Birth/Age : |
13.03.1974 |
|
Qualification : |
B. Sc |
|
PAN No.: |
AAEPS6099R |
|
Date of Appointment : |
10.10.2005 |
|
DIN No: |
00535510 |
|
|
|
|
Name : |
Mr. Kantilal Narandas Salvi |
|
Designation : |
Whole-time Director |
|
Address : |
B 108, Ashoka Tower, Kulupwadi Road,
Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
11.03.1945 |
|
Qualification : |
B. Sc |
|
PAN No.: |
ANWPS3988A |
|
Date of Appointment : |
01.08.2011 |
|
DIN No: |
00535466 |
|
|
|
|
Name : |
Mr. Kaushal Kantilal Salvi |
|
Designation : |
Whole Time Director |
|
Address : |
B 108, Ashoka Tower, Kulupwadi Road, Borivali
(East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/ Age: |
01.05.1979 |
|
Qualification : |
B. Com |
|
PAN No.: |
ALUPS3213L |
|
Date of Appointment : |
01.02.2011 |
|
DIN No: |
00535546 |
KEY EXECUTIVES
|
Name : |
Mr. Ganesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kantilal. N. Salvi |
|
11100 |
|
Nirav Salvi |
|
11500 |
|
Kaushal K. Salvi |
|
10500 |
|
Avni N Salvi |
|
5300 |
|
Shweta K. Salvi |
|
5550 |
|
Amita K. Salvi |
|
5550 |
|
Kantilal N Salvi (HUF) |
|
5550 |
|
Kantilal N. Salvi, Jointly Nirav K Salvi, Jointly Kaushal K Salvi |
|
2706750 |
|
Kantilal N Salvi (HUF),Nirav K. Salvi |
|
168125 |
|
Nirav K. Salvi, Jointly Avni N Salvi |
|
2435960 |
|
Kaushal K. Salvi, Jointly Shweta K. Salvi |
|
1441650 |
|
Kaushal K. Salvi (H.U.F), Jointly Shweta K. Salvi |
|
371000 |
|
Amita K. Salvi, Jointly Nirav K. Salvi |
|
78350 |
|
Avni N Salvi, Jointly Nirav K. Salvi |
|
189450 |
|
Shweta K. Salvi, Jointly Kaushal K. Salvi |
|
85450 |
|
Nirav K. Salvi (H.U.F) |
|
694000 |
|
Kantilal Salvi Jointly Avni Salvi |
|
70150 |
|
Amita K. Salvi Jointly Avni salvi |
|
99600 |
|
Kantilal N Salvi (HUF), Jointly Nirav K Salvi (HUF) |
|
119325 |
|
Milin Trivedi |
|
250 |
|
Total |
|
8515110 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Chemical, Bulk Drug and
Pharmaceuticals. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
-- |
||||||||||
|
|
|
||||||||||
|
Agencies Held : |
-- |
||||||||||
|
|
|
||||||||||
|
Exports : |
|
||||||||||
|
Products : |
Chemical and Pharmaceuticals |
||||||||||
|
Countries : |
|
||||||||||
|
|
|
||||||||||
|
Imports : |
|
||||||||||
|
Products : |
Raw Material |
||||||||||
|
Countries : |
China |
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cheque and Credit |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cheque and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
325 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
CC/PC/Post Shipment = Rs.170.000 Million (The Saraswat Co-operative Bank)
|
||||||||||||||||||||||
|
|
|
|
|
|
|
Auditors : |
|
|
Name : |
Patel and Krup Chartered Accountant |
|
Address : |
6, Cresent Chambers, 1st Floor, Tamrind Lane, Fort, Mumbai
– 400023, |
|
Tel. No.: |
91-22-22670815 |
|
PAN No.: |
AAAPP8616R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiary Company
: |
Any Tech International FZE |
|
|
|
|
Enterprise / Firm over which controlling individual have significant
influence (As on 31.03.2013) : |
Nutracare International |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8515110 |
Equity Shares |
Rs.10/- each |
Rs.85.151 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
85.151 |
79.432 |
79.432 |
|
(b) Reserves & Surplus |
181.462 |
137.220 |
103.597 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
20.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
266.613 |
236.652 |
183.029 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
108.744 |
106.567 |
63.011 |
|
(b) Deferred tax liabilities (Net) |
16.210 |
12.001 |
10.364 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.544 |
2.124 |
0.000 |
|
Total Non-current
Liabilities (3) |
126.498 |
120.692 |
73.375 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
104.890 |
112.007 |
96.465 |
|
(b) Trade
payables |
201.803 |
246.463 |
291.199 |
|
(c) Other
current liabilities |
48.939 |
38.261 |
22.424 |
|
(d) Short-term
provisions |
26.845 |
31.485 |
33.971 |
|
Total Current
Liabilities (4) |
382.477 |
428.216 |
444.059 |
|
|
|
|
|
|
TOTAL |
775.588 |
785.560 |
700.463 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
229.270 |
165.313 |
140.593 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
47.406 |
1.987 |
2.194 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.236 |
0.793 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28.602 |
96.993 |
38.534 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
307.514 |
265.086 |
181.346 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
184.136 |
106.628 |
187.904 |
|
(c) Trade
receivables |
234.140 |
373.918 |
267.016 |
|
(d) Cash
and cash equivalents |
2.240 |
2.826 |
0.750 |
|
(e)
Short-term loans and advances |
47.558 |
37.102 |
63.236 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.211 |
|
Total
Current Assets |
468.074 |
520.474 |
519.117 |
|
|
|
|
|
|
TOTAL |
775.588 |
785.560 |
700.463 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
953.478 |
927.366 |
646.695 |
|
|
|
|
Other Income |
30.357 |
4.438 |
23.587 |
|
|
|
|
TOTAL (A) |
983.835 |
931.804 |
670.282 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
829.191 |
730.883 |
497.481 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(59.024) |
1.088 |
1.204 |
|
|
|
|
Employee Benefits Expenses |
44.561 |
35.503 |
25.655 |
|
|
|
|
Other Expenses |
72.927 |
73.299 |
67.018 |
|
|
|
|
TOTAL (B) |
887.655 |
840.773 |
591.358 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
96.180 |
91.031 |
78.924 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
34.758 |
27.423 |
21.592 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
61.422 |
63.608 |
57.332 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
16.391 |
13.112 |
11.226 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
45.031 |
50.496 |
46.106 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
11.965 |
10.566 |
12.132 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
33.066 |
39.930 |
33.974 |
||
|
|
|
|
|
|
||
|
|
PRIOR PERIOD
ADJUSTMENT |
2.132 |
(0.618) |
0.000 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
126.208 |
94.584 |
66.996 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Provision for Dividend |
0.852 |
5.957 |
3.749 |
|
|
|
|
Tax on Dividend |
0.138 |
0.967 |
0.637 |
|
|
|
|
Transferred to General Reserve |
2.000 |
2.000 |
2.000 |
|
|
|
|
Debenture Redemption Reserve |
7.167 |
0.000 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
146.985 |
126.208 |
94.584 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
363.447 |
192.646 |
159.579 |
|
|
|
TOTAL EARNINGS |
363.447 |
192.646 |
159.579 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.12 |
5.03 |
4.28 |
||
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1030.000 |
Expected Sales (2014-2015): Rs.800.000 Million (Due to Market Fluctuation)
The above information has been parted by Mr. Ganesh
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.47 |
4.31 |
5.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
10.09 |
9.82 |
12.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.20 |
6.45 |
6.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.21 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.80 |
0.92 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.22 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
79.432 |
79.432 |
85.151 |
|
Reserves & Surplus |
103.597 |
137.220 |
181.462 |
|
Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
20.000 |
0.000 |
|
Net
worth |
183.029 |
236.652 |
266.613 |
|
|
|
|
|
|
Long Term borrowings |
63.011 |
106.567 |
108.744 |
|
Short Term borrowings |
96.465 |
112.007 |
104.890 |
|
Total
borrowings |
159.476 |
218.574 |
213.634 |
|
Debt/Equity
ratio |
0.871 |
0.924 |
0.801 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
646.695 |
927.366 |
953.478 |
|
|
|
43.401 |
2.816 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
646.695 |
927.366 |
953.478 |
|
Profit |
33.974 |
39.930 |
33.066 |
|
|
5.25% |
4.31% |
3.47% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Million
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
35.262 |
23.348 |
NA |
|
Total |
35.262 |
23.348 |
NA |
|
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
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
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 |
No |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
||||||||
|
BENCH: BOMBAY |
||||||||
|
Bench:- Bombay |
||||||||
|
Lodging No. : |
CHSL/69/2013 |
Failing Date:- |
19.01.2013 |
Reg. No.: |
CHS/76/2013 |
Reg. Date: |
01.02.2013 |
|
|
Main Matter |
||||||||
|
Lodging No: |
EXAL/263/2012 |
|||||||
|
Petitioner: |
M/S SINO OCEAN LIMITED |
Respondent: |
M/S. SALVI CHEMICAL INDUSTRIES LIMITED |
|||||
|
Petn. Adv : |
HALAI AND CO (I1036) |
Resp. Adv.: |
SRS LEGAL() |
|||||
|
District:- |
MUMBAI |
|||||||
|
Bench:- |
SINGLE |
|||||||
|
Status:- |
Pre-Admission |
Category: |
CHAMBER SUMMONS IN EXECUTION |
|||||
|
Next Date: |
06.02.2015 |
|||||||
|
Coram: |
HONABLE SHRI
JUSTICE B.P. COLABAWALLA |
|||||||
|
|
||||||||
|
Last Date: |
22.12.2014 |
Stage: |
CHAMBER SUMMONS
FOR HEARING AND FINAL DISPOSAL |
|||||
|
|
|
|||||||
|
Last Coram: |
HON’BLE SHRI JUSTICE B.P. COLABWALLA |
|||||||
|
|
|
|||||||
|
Act. : |
Code of Civil Procedure 1908 |
|||||||
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Million |
31.03.2012 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Fully convertible debentures others |
43.000 |
0.000 |
|
Loans and advances from related parties |
14.190 |
14.050 |
|
Other loans and advances |
0.000 |
46.550 |
|
Total |
57.190 |
60.600 |
OPERATIONS (AS ON 31.03.2013)
During the year,
the Sales Turnover has been registered at Rs.953.478 Million and Net Profit has
been registered at Rs.33.066 Million. The value of Export turnover for the year
was Rs.406.530 Million.
ENTERPRISE RESOURCE
PLANNING (ERP) (AS ON 31.03.2013)
The Company has
successfully implemented advanced management technology viz., ERP. The
implementation process is satisfactorily completed and the company has come out
with operating data and Balance Sheet generated from ERP. By implementing ERP
better management technique would be utilized for processing voluminous data in
lesser time to enable the Company for quick decisions.
SOME IMPORTANT ACHIEVEMENTS (AS ON 31.03.2013)
Remarkable increase
in the Export Turnover of the Company to Rs.406.530 Million from Rs.225.522
Million in the previous year.
The wholly owned
subsidiary of the Company i.e. Anytech international FZE in Sharjah, UAE has performed
well.
The Company is
holding ISO 9001, 22000, FEMI- QS, FSSC-22000 Certificates.
The Company has
purchased new office premises at Borivali East and planning to shift the
existing office to new premises during 2013-2014.
The Company has
completed erection of Plant and Machinery at Unit E-90 and has commenced
production in the month of April, 2013.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10421204 |
30/03/2013 |
2,000,000.00 |
The Saraswat Cooperative Bank Limited |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East, Mumbai, Maharashtra - 400057, India |
B73608747 |
|
2 |
10376559 |
01/09/2012 |
10,000,000.00 |
The Saraswat Cooperative Bank Limited |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East, Mumbai, Maharashtra - 400057, India |
B58141151 |
|
3 |
10328212 |
27/12/2011 |
29,400,000.00 |
The Saraswat Cooperative Bank Limited |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East, Mumbai, Maharashtra - 400057, India |
B29505898 |
|
4 |
10221676 |
04/05/2010 |
2,000,000.00 |
The Saraswat Cooperative Bank Limited |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East, Mumbai, Maharashtra - 400057, India |
A85846749 |
|
5 |
10221489 |
22/04/2010 |
3,000,000.00 |
The Saraswat Cooperative Bank Limited |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East, Mumbai, Maharashtra - 400057, India |
A85623817 |
|
6 |
10211612 |
29/03/2010 |
11,500,000.00 |
The Saraswat Cooperative Bank Limited |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East, Mumbai, Maharashtra - 400057, India |
A82899725 |
|
7 |
10192571 |
03/12/2009 |
3,500,000.00 |
The Saraswat Cooperative Bank Limited |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East, Mumbai, Maharashtra - 400057, India |
A75471060 |
|
8 |
10130600 |
27/10/2008 |
15,000,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A51106078 |
|
9 |
10113694 |
10/07/2008 |
9,500,000.00 |
The Saraswat Cooperative Bank Limited |
Vile Parle Branch, Vile Parle (East), Mumbai, Maharashtra - 400057, India |
A41741265 |
|
10 |
10082737 |
15/01/2013 * |
494,404,000.00 |
The Saraswat Cooperative Bank Limited |
SME
Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East,
Mumbai, Maharashtra |
B67596627 |
|
11 |
10062903 |
06/08/2007 |
2,250,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli (West), Mumbai, Maharashtra - 400092, India |
A20829578 |
|
12 |
10060274 |
26/07/2007 |
10,000,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli (West), Mumbai, Maharashta - 400092, India |
A19329499 |
|
13 |
10036944 |
25/01/2007 |
1,445,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A10613206 |
|
14 |
10036936 |
25/01/2007 |
4,600,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli
Branch, Borilvi West, Mumbai, Maharashtra |
A10611994 |
|
15 |
10029200 |
07/10/2008 * |
14,000,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A49135197 |
|
16 |
10029623 |
07/10/2008 * |
35,000,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A49135585 |
|
17 |
10029608 |
11/06/2012 * |
142,500,000.00 |
The Saraswat Cooperative Bank Limited |
SME
Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East,
Mumbai, Maharashtra |
B42758383 |
|
18 |
10031291 |
28/11/2006 |
224,578.81 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A07835135 |
|
19 |
10031290 |
28/11/2006 |
292,591.45 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A07835341 |
|
20 |
10029764 |
28/11/2006 |
347,610.36 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A07835556 |
|
21 |
10029199 |
28/11/2006 |
500,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A07834500 |
|
22 |
10029812 |
28/11/2006 |
500,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A07834633 |
|
23 |
10031171 |
28/11/2006 |
17,300,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A07982051 |
|
24 |
10029991 |
28/11/2006 |
25,000,000.00 |
The Saraswat Cooperative Bank Limited |
Borivli Branch, Borivli, Mumbai, Maharashtra - 400092, India |
A07834815 |
*Date of modification Charges
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,
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.62.37 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
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.