MIRA INFORM REPORT
|
Report No. : |
318276 |
|
Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
RHODIA SPECIALTY CHEMICALS INDIA LIMITED [w.e.f. 13.06.2011] |
|
|
|
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Formerly Known
As : |
ALBRIGHT AND WILSON CHEMICAL INDIA LIMITED |
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Registered
Office : |
Phoenix House, A Wing, 4th Floor, 462, Senapati Bapat Marg,
Lower Parel (West), Mumbai-400013, Maharashtra |
|
Tel. No.: |
91-22-66637101 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.09.1965 |
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Com. Reg. No.: |
11-013331 |
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Capital
Investment / Paid-up Capital : |
Rs. 33.756 Million |
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|
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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CIN No.: [Company Identification
No.] |
L24110MH1965PLC013331 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacture of organic chemicals |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1800000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “RHODIA UK LIMITED”. It is an established
company having satisfactory track record. The company has incurred loss from its operational activities during
2014. However, company receives strong financial and managerial support from
its parent company and it has sound liquidity profile. Trade relations are reported to be fair. Payments are reported to be
slow but correct. In view of strong parent company support, 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.
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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based facilities: “A+ (SO)” (Suspended) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
December 2013 |
Reason for Suspended: Absence of requisite information.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No. 91-22-66637101)
LOCATIONS
|
Registered Office : |
Phoenix House, A Wing, 4th Floor, 462, Senapati Bapat Marg,
Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
Tel. No.: |
91-22-66637100/ 01 |
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Fax No.: |
91-22-66637100 / 91-22-24952834 |
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E-Mail : |
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Web: |
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Factory : |
Plot No. 103 and 104, MIDC Industrial
Estate, Village Dhatav, Roha, District Raigad - 402116, Maharashtra,
India |
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Tel. No.: |
91-2194-263573 / 75 |
|
Fax No.: |
91-2194-263571 |
DIRECTORS
AS ON: 31.03.2014
|
Name : |
Mr. D. D. Chopra |
|
Designation : |
Chairman Emeritus |
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|
Name : |
Mr. Suresh Talwar |
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Designation : |
Chairman |
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Name : |
Mr. Michel Ybert |
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Designation : |
Alt. Guo Lin |
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Name : |
Ms. Ian Brown |
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Designation : |
Alt. Ms. Quitterie Dupontreue De Pelleport |
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Name : |
Mr. Sanjeev Mukerjee |
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Designation : |
Director |
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Name : |
Mr. Ranjit Pandit |
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Designation : |
Director |
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Name : |
Mr. Yogesh Thar |
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Designation : |
Director |
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Name : |
Mr. Pierre-Franck Valentin |
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Designation : |
Alt. Chen Pu |
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Name : |
Mr. Prakash Raman |
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Designation : |
Director |
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Name : |
Mr. Manoj Khullar |
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Designation : |
Managing Director (w. e. f. 1st January 2013) |
KEY EXECUTIVES
|
Name : |
Mr. Niranjan Ketkar |
|
Designation : |
Legal Manager and Company Secretary |
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Name : |
Mr. Neeraj Mishra |
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Designation : |
Accounts Manager |
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Audit Committee |
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Name : |
Mr. Yogesh Thar |
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Designation : |
Chairman |
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Name : |
Mr. Sanjeev Mukerjee |
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Designation : |
Chairman |
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Name : |
Mr. Suresh Talwar |
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Designation : |
Chairman |
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Name : |
Mr. Manoj Khullar |
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Designation : |
Chairman |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2014
|
Category of Shareholder |
Total
No. of Shares |
As a % |
|
Promoter |
|
|
|
Indian Promoter |
|
|
|
Foreign Promoter |
3082826 |
91.33 |
|
Total
Promoter |
3082826 |
91.33 |
|
|
|
|
|
Non
Promoter |
|
|
|
Institutions |
|
|
|
Mutual Funds / UTI |
50 |
0.00 |
|
FI/Bank/Insurance |
70 |
0.00 |
|
Govt |
00 |
0.00 |
|
FII |
00 |
0.00 |
|
Other |
00 |
0.00 |
|
Total
Institutions |
120 |
0.00 |
|
Non-Institution |
|
|
|
Bodies
Corporate |
14634 |
0.43 |
|
Individuals |
|
|
|
NRIs/OCBs |
1396 |
0.04 |
|
Others |
276624 |
8.20 |
|
Total
Non-Institution |
292654 |
8.67 |
|
Total
Non-Promoter |
292774 |
8.67 |
|
|
|
|
|
Depository Receipts |
000 |
0.00 |
|
|
|
|
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Grand
Total |
3375600 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacture of organic
chemicals |
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Products : |
Organic Chemicals |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
Note: As at 31 March 2013, secured by hypothecation of inventories including raw materials, semi-finished goods, stock in process, finished goods, book debts, bills receivable and all other recoverable, both present and future. Cash credit and overdraft facilities from bank carry interest ranging between 2.7% p.a. and 15.2% p.a. Secured by a corporate guarantee from Rhodia SA France, a subsidiary of the ultimate holding company and carries interest rate ranging between 2.13% p.a. and 11.5% p.a. Carries an interest rate ranging from 9.25% p.a. to 10.25%
p.a. |
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Auditors : |
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|
Name : |
Delloitte Haskins and Sells Chartered Accountants |
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Solicitors : |
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Name : |
Crawford Bayley and Company |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company
: |
Rhodia UK Limited |
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Ultimate Holding
Company : |
Solvay S.A. |
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Subsidiaries : |
Solvay S.A. |
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Fellow
Subsidiaries : |
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CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Million |
|
1000000 |
Unclassified Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
Total |
|
Rs.50.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3375600 |
Equity Shares |
Rs.10/- each |
Rs.33.756
Million |
|
|
|
|
|
Reconciliation of the
number of shares outstanding at the beginning and at the end of the year Equity
shares
|
|
As on 31.03.2014 |
|
|
No. of shares |
Rs. In Million |
|
|
At the beginning of the period |
3375600 |
33.756 |
|
Add: Issued during the period |
-- |
-- |
|
Outstanding at the end of the period |
3375600 |
33.756 |
Terms/Rights attached
to equity shares
The Company has only one class of shares referred to as equity shares having a par value of Rs. 10 per share. Accordingly, all equity shares rank equally with regard to dividend and share in the Company's residual assets. The equity shareholders are entitled to receive dividend was declared from time to time. Each holder of equity share is entitled to one vote per share. In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the Company after distribution of all the preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
During the year, the amount of per share dividend recognized as distributable to equity share holder is ` Nil (Previous period Rs. 2 per share).
Shares held by
Holding / ultimate Holding Company and/or their Subsidiaries
|
|
As on 31.03.2014 |
|
|
No. of shares |
Rs. In Million |
|
|
Rhodia UK Limited (Holding Company) |
2461974 |
24.620 |
|
Solvay Participations, France (Subsidiary of
the ultimate Holding Company Solvay SA, France) |
620852 |
- |
Details of
shareholders holding more than 5% equity shares in the Company
|
Name of the
shareholder |
As on 31.03.2014 |
|
|
No. of shares |
% Holding |
|
|
Rhodia UK Limited |
2461974 |
72.93% |
|
Solvay Participations, France |
620852 |
18.39% |
BSE Limited (BSE) vide its letter dated 15 May 2014 has informed the Company that the equity shares of the Company will be delisted from BSE w.e.f. Wednesday, May 28, 2014.
Exit Option will be kept open by the Acquirer-Solvay SA to the remaining public shareholders for a period of one year from the date of delisting at the rate of Rs. 1,200/- (Rupees One Thousand Two Hundred only) per equity share, being the exit price determined.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 (12 Months) |
31.03.2013 (15 Months) |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
33.756 |
33.756 |
33.756 |
|
(b) Reserves & Surplus |
647.929 |
715.595 |
354.864 |
|
(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) |
681.685 |
749.351 |
388.620 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.205 |
0.252 |
0.857 |
|
(d) long-term
provisions |
18.690 |
17.360 |
13.346 |
|
Total Non-current
Liabilities (3) |
18.895 |
17.612 |
14.203 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
403.708 |
279.623 |
505.972 |
|
(b) Trade payables |
537.257 |
166.520 |
375.383 |
|
(c) Other current
liabilities |
54.491 |
196.438 |
226.929 |
|
(d) Short-term
provisions |
11.714 |
17.185 |
7.819 |
|
Total Current
Liabilities (4) |
1007.170 |
659.766 |
1116.103 |
|
|
|
|
|
|
TOTAL |
1707.750 |
1426.729 |
1518.926 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
492.930 |
525.872 |
533.223 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
19.403 |
25.088 |
8.784 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.003 |
0.003 |
0.003 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
156.935 |
159.640 |
67.535 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
2.000 |
|
Total Non-Current
Assets |
669.271 |
710.603 |
611.545 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
384.969 |
280.289 |
368.933 |
|
(c) Trade receivables |
537.187 |
323.857 |
307.459 |
|
(d) Cash and cash
equivalents |
0.795 |
18.692 |
92.820 |
|
(e) Short-term loans and
advances |
114.903 |
91.546 |
136.751 |
|
(f) Other current
assets |
0.625 |
1.742 |
1.418 |
|
Total Current Assets |
1038.479 |
716.126 |
907.381 |
|
|
|
|
|
|
TOTAL |
1707.750 |
1426.729 |
1518.926 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 (12 Months) |
31.03.2013 (15 Months) |
31.12.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
2672.894 |
2844.155 |
2522.041 |
|
|
Other Income |
38.228 |
54.642 |
23.514 |
|
|
TOTAL (A) |
2711.122 |
2898.797 |
2545.555 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1637.340 |
1668.123 |
1520.420 |
|
|
Purchases of
Stock-in-Trade |
458.273 |
457.872 |
643.770 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(40.088) |
48.945 |
(91.476) |
|
|
Employees benefits
expense |
173.551 |
180.010 |
104.174 |
|
|
Other expenses |
372.574 |
388.303 |
302.501 |
|
|
Exceptional Items |
0.000 |
(362.185) |
0.000 |
|
|
TOTAL (B) |
2601.650 |
2381.068 |
2479.389 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
109.472 |
517.729 |
66.166 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
17.774 |
46.001 |
44.641 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
91.698 |
471.728 |
21.525 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
92.262 |
103.098 |
78.186 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(0.564) |
368.630 |
(56.661) |
|
|
|
|
|
|
|
Less |
TAX (I) |
67.102 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
(67.666) |
368.630 |
(56.661) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
306.824 |
(26.306) |
30.355 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
0.000 |
27.600 |
0.000 |
|
|
Dividend |
0.000 |
1.100 |
0.000 |
|
|
Tax on Dividend |
0.000 |
6.800 |
0.000 |
|
|
BALANCE CARRIED TO THE
B/S |
239.100 |
306.824 |
(26.306) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
342.175 |
334.864 |
219.272 |
|
|
Indenting commission |
7.779 |
10.619 |
3.543 |
|
|
TOTAL EARNINGS |
349.954 |
345.483 |
222.815 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
491.215 |
569.717 |
495.795 |
|
|
Traded Goods |
280.997 |
285.146 |
184.579 |
|
|
Stores & Spares |
2.902 |
2.720 |
0.365 |
|
|
TOTAL IMPORTS |
775.114 |
857.583 |
680.739 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(20.05) |
109.20 |
(16.79) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 (12 Months) |
31.03.2013 (15 Months) |
31.12.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(2.53) |
12.96 |
(2.25) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.10 |
18.20 |
2.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.03) |
26.30 |
(3.75) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.49 |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.59 |
0.37 |
1.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
1.09 |
0.81 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.03.2013 (15 Months) |
31.03.2014 (12 Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
33.756 |
33.756 |
33.800 |
|
Reserves & Surplus |
354.864 |
715.595 |
647.900 |
|
Net
worth |
388.620 |
749.351 |
681.700 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
505.972 |
279.623 |
403.700 |
|
Total
borrowings |
505.972 |
279.623 |
403.700 |
|
Debt/Equity
ratio |
1.302 |
0.373 |
0.592 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.03.2013 (15 Months) |
31.03.2014 (12 Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operations |
2522.041 |
2844.155 |
2672.894 |
|
|
|
12.772 |
(6.022) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.03.2013 (15 Months) |
31.03.2014 (12 Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operations |
2522.041 |
2844.155 |
2672.894 |
|
Profit/ Loss |
(56.661) |
368.630 |
(67.666) |
|
|
(2.25%) |
12.96%) |
(2.53%) |
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE:
The Company made a loss before exceptional item of Rs. 0.6 Million as against a profit of Rs. 6.400 Million during the previous period. Previous period’s profit was mainly attributable to exceptional item of transfer of leasehold rights of Ambernath land. The situation during the current year was further worsened due to differential customs duty of Rs. 67.100 Million paid for the current year and previous periods.
MANAGEMENT DISCUSSION
AND ANALYSIS:
INDUSTRY STRUCTURE
AND DEVELOPMENTS
The Company operates in the business segment of consumer chemicals. The Company manufactures specialized formulations to serve its customers who in turn further manufacture consumer goods for Home and Personal Care, Decorative Paints, Agrochemicals and various industrial formulations.
With the projected growth rate of India GDP in 2013 by various global and Indian economic agencies, the business climate in India has become more challenging for 2013. The slowdown in infrastructure, has added to the overall slowdown in various sectors of economy.
The Company is putting in its best efforts to overcome the slowdown, by means of increasing efficiencies across supply chain, and hence target higher capacity utilization at Roha. The Company is also planning to import and trade specialty formulations in the Indian market to differentiate its product offerings from the commodity market.
OPERATING AND
FINANCIAL PERFORMANCE OF THE COMPANY
During the current year of April 2013 to March 2014, the sales amounted to Rs. 2657.200 Million.
The Company is making efforts to increase the number of products whereby the Company will be in a position to increase the margin on sales.
FUTURE OUTLOOK
The Company continues its efforts to increase the utilization of its installed capacities, which will be crucial to achieve an improvement in the operational results. Priority is given to capitalize on the quality of its products and services as well as to optimize its industrial operations and to assure a competitive supply of raw materials. The Company is also taking efforts to increase the product line whereby the Company will be in a position to increase the margin on sales.
(The statement in this report including Management’s
Discussions and Analysis Report reflects Company’s projections, estimates,
expectations or predictions. These may be forward looking statements within the
meaning of applicable securities laws and regulations. Actual results could
differ materially from those expressed or implied, since the Company’s
operations are influenced by many external and internal factors beyond the
control of the Company.)
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs. In Million) |
31.03.2013 (Rs. In Million) |
|
Short-term
borrowings |
|
|
|
From Banks (#) |
303.708 |
172.217 |
|
Loans and advances from related party |
100.000 |
10.000 |
|
|
|
|
|
Total |
403.708 |
172.217 |
CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
|
Particulars |
31.03.2014 (Rs. In Million) |
31.03.2013 (Rs. In Million) |
|
Matters relating to undervaluation of assessable value |
17.508 |
17.508 |
|
Nonpayment of
duty on clearance of goods meant for export by the customer |
5.815 |
5.815 |
|
Availment of modvat credit |
1.508 |
0.784 |
|
Total |
24.831 |
24.107 |
FIXED ASSETS:
Tangible Assets:
- Freehold Land
- Leasehold
Land
- Building and
Roads
- Plant and
Machinery
- Furniture and
Fittings
- Vehicles
Intangible Assets:
- Patents
- Technical
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 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.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
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 |
|
43 |
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.