MIRA INFORM REPORT
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Report No. : |
319154 |
|
Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
DEEPAK
FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED |
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|
|
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Registered
Office : |
Opposite
Golf Course, Shastri Nagar, Yerawada, Pune - 411006, Maharashtra |
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Tel. No.: |
91-20-26684155 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.05.1979 |
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Com. Reg. No.: |
11-021360 |
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Capital
Investment / Paid-up Capital : |
Rs.882.049 Million |
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|
|
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CIN No.: [Company Identification
No.] |
L24121MH1979PLC021360 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD10002G |
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PAN No.: [Permanent Account No.] |
AAACD1388D |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer
and Trader Fertilizers, Industrial Chemicals, Technical Ammonium Nitrate. |
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No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s heathy financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
CARE |
|
Rating |
Non-Convertible Debenture Issue = AA |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
23.12.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Commercial Paper Issue = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
23.12.2014 |
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. Bhupendra |
|
Designation : |
Accounts |
|
Contact No.: |
91-20-66458083 |
|
Date : |
23.04.2015 |
LOCATIONS
|
Registered
Office : |
Opposite
Golf Course, Shastri Nagar, Yerawada, Pune -411006, |
|
Tel. No.: |
91-20-26684155/
26684342/ 26684597/ 26684235/ 26458000/ 66458000 |
|
Mobile No.: |
91-9822209351
(Mr.
Sanjay Gundi) |
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Fax No.: |
91-20-26687499/
26683727 |
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E-Mail : |
investorgrievance@deepakfertilsers.com |
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Website : |
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|
|
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Corporate Office : |
Sai-Hera, Mundhwa, Pune, Maharashtra, India |
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Factory : |
Plot No.
K-1, K-7 and K-8, MIDC Industrial Area, Taloja, A. V., District Raigad –
410208, Maharashtra, India |
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Tel. No.: |
91-22-67684000 |
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Fax No.: |
91-22-27412413 |
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E Mail: |
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Marketing /
Project Office : |
Plot
No. 32, Sector 16, Opposite Modern College, Vashi, Navi Mumbai - 400703,
Maharashtra, India |
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Branch Office
: |
Located
At Delhi, India |
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Area Offices : |
Located at:
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DIRECTORS
As on 31.03.2014
|
Name : |
Mr. S. C. Mehta |
|
Designation : |
Chairman Emeritus |
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|
Name : |
Mr. Partha Bhattacharyya |
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Designation : |
Executive Director |
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Name : |
Mr. R. A. Shah |
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Designation : |
Director |
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Date of Birth /
Age : |
82 Years |
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Qualification : |
B.A., L.L.B., Solicitor |
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Date of
Appointment : |
26.12.1979 |
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|
|
|
Name : |
Mr. D. Basu |
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Designation : |
Director |
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Date of Birth /
Age : |
78 Years |
|
Qualification : |
M.A. (Economics) |
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Date of
Appointment : |
27.07.2000 |
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|
|
|
Name : |
Mr. N. C. Singhal |
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Designation : |
Director |
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Date of Birth /
Age : |
77 Years |
|
Qualification : |
M.A. (Economics), M.Sc. (Statistics), P.G. Diploma in Public
Administration |
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Date of
Appointment : |
25.03.1997 |
|
|
|
|
Name : |
Mr. U. P.
Jhaveri |
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Designation : |
Director |
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Date of Birth /
Age : |
68 Years |
|
Qualification : |
B.E. (Chemical) |
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Date of
Appointment : |
21.10.2004 |
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|
|
|
Name : |
Mr. S. R. Wadhwa |
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Designation : |
Director |
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Date of Birth /
Age : |
78 Years |
|
Qualification : |
M.A., L.L.M., CAIIB, Masters Diploma in Public Administration |
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Date of
Appointment : |
18.10.2005 |
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|
|
|
Name : |
Dr. S. Rama Iyer |
|
Designation : |
Director |
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Date of Birth /
Age : |
74 Years |
|
Qualification : |
B.E.(Chemical), M. Tech. and Ph.D. from IIT, Mumbai |
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Date of
Appointment : |
23.10.2007 |
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|
|
|
Name : |
Mrs. Parul S. Mehta |
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Designation : |
Director |
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Date of Birth /
Age : |
49 Years |
|
Qualification : |
B.Com. |
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Date of
Appointment : |
20.10.2005 |
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|
|
|
Name : |
Mr. Anil Sachdev |
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Designation : |
Director |
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Date of Birth /
Age : |
59 Years |
|
Qualification : |
B.Sc., MBA |
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Date of
Appointment : |
23.10.2008 |
|
|
|
|
Name : |
Mr. Pranay Vakil |
|
Designation : |
Director |
|
Date of Birth /
Age : |
67 Years |
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Qualification : |
B.Com., C.A., L.L.B., FRICS |
|
Date of
Appointment : |
25.05.2010 |
KEY EXECUTIVES
|
MANAGEMENT TEAM : |
|
|
|
|
|
Name : |
Mr. Somnath Patil |
|
Designation : |
President and CFO |
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|
|
|
Name : |
Mr. Rajendra Sinh |
|
Designation : |
President HRD and Corporate Services |
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|
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|
Name : |
Dr. Rajeev Chemburkar |
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Designation : |
President Chemicals |
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|
Name : |
Mr. Guy R. Goves |
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Designation : |
President – Agribusiness |
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|
Name : |
Mr. Pandurang Landge |
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Designation : |
President – Projects |
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|
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|
Name : |
Mr. Carl Anders Lindgren |
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Designation : |
President and Technical Advisor for TAN |
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|
Name : |
Mr. Alok Goel |
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Designation : |
President – Strategy and Business Development |
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|
Name : |
Mr. Naresh Kumar Pinisetti |
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Designation : |
President - Human Resources |
SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
21445716 |
24.31 |
|
|
18655372 |
21.15 |
|
|
40101088 |
45.46 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
40101088 |
45.46 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
855669 |
0.97 |
|
|
63484 |
0.07 |
|
|
1680385 |
1.91 |
|
|
12640185 |
14.33 |
|
|
15239723 |
17.28 |
|
|
|
|
|
|
8294159 |
9.40 |
|
|
|
|
|
|
18412904 |
20.88 |
|
|
3724835 |
4.22 |
|
|
2432234 |
2.76 |
|
|
17896 |
0.02 |
|
|
2229588 |
2.53 |
|
|
184750 |
0.21 |
|
|
32864132 |
37.26 |
|
Total Public shareholding (B) |
48103855 |
54.54 |
|
Total (A)+(B) |
88204943 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
88204943 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
and Trader Fertilizers, Industrial Chemicals, Technical Ammonium Nitrate. |
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Products : |
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Brand Names : |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Industrial Products |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
OBC Group Company |
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Customers : |
-- |
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No. of Employees : |
700 (Approximately) |
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Bankers : |
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Facilities : |
Notes: Long-term
Borrowings
Short Term
Borrowings Notes:
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B. K. Khare and Company Chartered Accountants |
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Solicitors 1 : |
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Name : |
Crawford Bayley and Company |
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Solicitors 2 : |
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Name : |
J. Sagar Associates |
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Solicitors 3 : |
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Name : |
AZB and Partners |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
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Jointly Controlled Entity : |
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Entities over which key managerial personnel are able to exercise
significant influence: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Million |
|
1000000 |
Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.100.000 Million |
|
|
Total |
|
Rs.1350.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
88204943 |
Equity Shares |
Rs.10/- each |
Rs.882.049 Million |
a.
Reconciliation of the number of shares
|
Equity Shares |
Number
of Shares |
Rs. In Million |
|
Balance as at the
beginning of the year |
88204943 |
882.049 |
|
Add: Issued
during the year |
-- |
-- |
|
Balance as at the
end of the year |
88204943 |
882.049 |
b.
Terms/ Rights
attached with Equity Shares
The Company has only one class of issued
Equity Shares having at par value of Rs.10 per Share. Each holder of Equity
Shares is entitled to one vote per Share.
The Company declares and pay dividend in
Indian Rupee except in the case of overseas Shareholders where dividend is paid
in respective foreign currencies considering foreign exchange rate applied at
the date of remittance. The dividend proposed by the Board of Directors is
subject to the approval of Shareholders in the ensuring Annual General Meeting.
In the event of liquidation of the Company
the holders of Equity Share will be entitled to receive remaining assets of the
Company, after distribution of all preferential amounts in proportion to their
shareholding.
c.
Details of equity shares held by shareholders
holding more than 5% shares :
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Shri S. C. Mehta |
19.281 |
21.86% |
|
Nova Synthetic Limited |
17.267 |
19.58% |
|
Fidelity Puriton Trust Fund-Fidelity low prices |
7.569 |
8.58% |
|
Total |
44.117 |
50.02% |
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 |
882.049 |
882.049 |
882.049 |
|
(b) Reserves & Surplus |
14,029.096 |
12,260.457 |
11,352.951 |
|
(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) |
14,911.145 |
13,142.506 |
12,235.000 |
|
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|
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|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5,920.684 |
7,141.504 |
5,098.395 |
|
(b) Deferred tax liabilities (Net) |
1,177.548 |
1,222.838 |
1,012.460 |
|
(c) Other long term
liabilities |
2.191 |
7.702 |
11.898 |
|
(d) long-term provisions |
233.708 |
197.888 |
143.142 |
|
Total Non-current
Liabilities (3) |
7,334.131 |
8,569.932 |
6,265.895 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2,296.493 |
3,044.302 |
2,694.172 |
|
(b) Trade
payables |
3,498.653 |
2,076.125 |
2,130.779 |
|
(c) Other
current liabilities |
2,744.304 |
2,079.193 |
2,202.402 |
|
(d) Short-term
provisions |
807.176 |
699.378 |
643.192 |
|
Total Current
Liabilities (4) |
9,346.626 |
7,898.998 |
7,670.545 |
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|
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|
TOTAL |
31,591.902 |
29,611.436 |
26,171.440 |
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|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
13,796.017 |
14,023.589 |
12,945.584 |
|
(ii)
Intangible Assets |
85.079 |
103.361 |
127.491 |
|
(iii)
Capital work-in-progress |
939.335 |
265.431 |
1,200.586 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2,788.227 |
956.578 |
976.412 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
408.067 |
581.936 |
357.945 |
|
(e) Other
Non-current assets |
57.183 |
82.204 |
0.000 |
|
Total Non-Current
Assets |
18,073.908 |
16,013.099 |
15,608.018 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
262.160 |
2,483.262 |
211.952 |
|
(b)
Inventories |
3,387.584 |
2,397.844 |
2,064.606 |
|
(c) Trade
receivables |
7,693.975 |
6,451.646 |
5,651.060 |
|
(d) Cash
and cash equivalents |
924.756 |
1,020.122 |
1,456.901 |
|
(e) Short-term
loans and advances |
1,148.660 |
1,135.973 |
1,143.186 |
|
(f) Other
current assets |
100.859 |
109.490 |
35.717 |
|
Total
Current Assets |
13,517.994 |
13,598.337 |
10,563.422 |
|
|
|
|
|
|
TOTAL |
31,591.902 |
29,611.436 |
26,171.440 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
38,162.795 |
26,079.490 |
23,425.333 |
|
|
|
Other Income |
470.398 |
602.914 |
396.569 |
|
|
|
TOTAL (A) |
38,633.193 |
26,682.404 |
23,821.902 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
16,527.636 |
12,524.950 |
11,347.137 |
|
|
|
Purchases of Stock-in-Trade |
11,438.421 |
6,301.675 |
4,392.298 |
|
|
|
Changes in Inventories of Finished Goods and Stock-in-Trade- (Increase) / Decrease |
(473.730) |
(309.631) |
(293.461) |
|
|
|
Employee Benefits Expense |
1,634.195 |
1,450.164 |
1,393.170 |
|
|
|
Other Expenses |
3,995.345 |
2,913.200 |
2,580.901 |
|
|
|
Exceptional Items |
113.520 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
33,235.387 |
22,880.358 |
19,420.045 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5,397.806 |
3,802.046 |
4,401.857 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1,007.507 |
821.737 |
682.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4,390.299 |
2,980.309 |
3,719.617 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1,026.397 |
974.536 |
819.062 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3,363.902 |
2,005.773 |
2,900.555 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
925.059 |
536.722 |
770.817 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2,438.843 |
1,469.051 |
2,129.738 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8949.895 |
8305.502 |
7122.548 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transferred to Debenture Redemption
Reserve |
95.830 |
116.563 |
179.200 |
|
|
|
Transferred to General Reserve |
247.000 |
147.500 |
213.500 |
|
|
|
Proposed Dividend on Equity Shares (Net) |
573.345 |
485.140 |
485.122 |
|
|
|
Tax on Proposed Dividend (Net) |
96.859 |
75.455 |
68.962 |
|
|
BALANCE CARRIED
TO THE B/S |
10375.704 |
8949.895 |
8305.502 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods (on FOB basis) |
805.872 |
784.585 |
779.995 |
|
|
|
Other income |
151.663 |
138.178 |
23.046 |
|
|
TOTAL EARNINGS |
957.535 |
922.763 |
803.041 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials |
6962.522 |
2514.946 |
2773.251 |
|
|
|
Components and spare parts |
70.860 |
70.924 |
96.608 |
|
|
|
Capital goods |
73.787 |
67.045 |
221.649 |
|
|
|
Stock-in-trade |
4141.399 |
2597.062 |
2684.687 |
|
|
TOTAL IMPORTS |
11248.568 |
5249.977 |
5776.195 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.65 |
16.65 |
24.15 |
|
QUARTERLY RESULTS
(Rs.
In Million)
|
Particulars |
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
31.12.2014 (Unaudited) |
|
|
1st Quarter
|
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
9453.700 |
10205.400 |
8184.800 |
|
Total Expenditure |
8406.800 |
9596.000 |
7686.700 |
|
PBIDT (Excl OI) |
1046.900 |
609.400 |
498.100 |
|
Other Income |
71.700 |
91.300 |
113.300 |
|
Operating Profit |
1118.600 |
700.700 |
611.400 |
|
Interest |
257.400 |
299.600 |
299.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
861.200 |
401.100 |
312.300 |
|
Depreciation |
301.100 |
274.100 |
296.600 |
|
Profit Before Tax |
560.100 |
127.000 |
15.700 |
|
Tax |
161.600 |
26.800 |
3.200 |
|
Provisions and contingencies |
0000 |
0.000 |
0.000 |
|
Profit After Tax |
398.500 |
100.200 |
12.500 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
398.500 |
100.200 |
12.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.39 |
5.63 |
9.09 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
14.14 |
14.58 |
18.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.07 |
7.07 |
12.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.15 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.55 |
0.78 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.72 |
1.38 |
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 |
882.049 |
882.049 |
882.049 |
|
Reserves & Surplus |
11352.951 |
12260.457 |
14029.096 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Net
worth |
12235.000 |
13142.506 |
14911.145 |
|
|
|
|
|
|
long-term borrowings |
5098.395 |
7141.504 |
5920.684 |
|
Short term borrowings |
2694.172 |
3044.302 |
2296.493 |
|
Total
borrowings |
7792.567 |
10185.806 |
8217.177 |
|
Debt/Equity
ratio |
0.637 |
0.775 |
0.551 |
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 |
23,425.333 |
26,079.490 |
38,162.795 |
|
|
|
11.330 |
46.333 |
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
|
23,425.333 |
26,079.490 |
38,162.795 |
|
Profit |
2,129.738 |
1,469.051 |
2,438.843 |
|
|
9.09% |
5.63% |
6.39% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
No |
|
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 |
MANAGEMENT
DISCUSSION AND ANALYSIS:
During the year, despite operating under tough economic
conditions, Total Revenue (including Other Income) increased to Rs.38633.100
Million(including Rs.11934.100 Million from trading operations) as against `
26682.400 Million(including Rs.6526.100 Million from trading operations) for
the previous year. PBT for the year under review stood at Rs.3363.900 Million
as against Rs.2005.800 Million in the previous year. Net Profit for the current
year was recorded at Rs.2438.800 Million as compared to Rs.1469.000 Million in
the previous year. A further analysis of the performance is available in the
Management Discussion and Analysis (MDA), which forms part of this Report, and
inter alia, deals adequately with the operations as also current and future
outlook of the Company.
ECONOMIC OVERVIEW
During the year, economic activity broadly strengthened with much of the
impetus for growth coming from advanced economies of US and Europe. Emerging
market economies faced domestic challenges and many of them witnessed a general
slowdown. Overall, the outlook for world economic growth is projected to be
around 3.6%, and is expected to rise further to 3.9% in 2015. India’s GDP
growth dipped to below 5% largely due to as high inflation, a large fiscal
deficit and steep interest rates. Impediments in infrastructure projects due to
delay in environmental and land clearances, coupled with an increase of capital
outflow and currency depreciation, hit the economy. However, the extended
monsoons provided the much-needed succour, resulting in favourable agricultural
growth pulling the economy marginally up. In addition, the rupee which
depreciated nearly 20% during the first half of the year was stabilized due to
the focused initiatives undertaken by the Government and the Reserve Bank of
India (RBI). With the global scenario firming up and with improving export
competitiveness, India’s growth is expected to improve in FY 2014-15. It is
estimated to be in the range of 5.5% in FY 2014-15 and 6.4% in FY 2015-16,
though the outlook going forward will depend on the policies of the new
government.
FINANCIAL OVERVIEW
Financial Analysis
In the backdrop of the subdued macroeconomic environment, FY 2013-14
witnessed increased scale, and high growth performance, which speaks volumes
for your Company’s de-risked and robust business model. The top line grew from
Rs.26079.500 Million in FY 2012-13 to Rs.38162.800 Million in FY 2013-14,
recording a growth of 46%. The robust growth in top line is attributed to the
performance improvement initiatives undertaken by your Company, which helped
achieve higher capacity utilization for its key products on a sustained basis
and also enhanced operational efficiencies at all its plants. The overall cost
of goods sold increased from Rs.18517.000 Million in FY 2012-13 to Rs.27492.300
Million in FY 2013-14 on account of higher business volume. Finance costs
witnessed an increase of 23%, mainly on account of higher working capital
requirements as a result of higher level of activities. The interest cost was
higher, compared to the previous year at Rs.1007.500 Million. The stabilization
of rupee in the latter half of FY 2013-14 helped in reducing the finance costs.
Your Company’s Profit before Tax (PBT) was recorded at Rs.3363.900 Million for
the year FY 2013-14 - an increase of 68% over the previous year. Profit after
Tax (PAT) for the year under review was Rs.2438.800 Million, an increase of 66%
over the previous year. The Earnings per
Share (EPS) stood at Rs.27.65 in FY 2013-14, compared to Rs.16.65 in FY 2012-13
and Cash Earnings per Share (CEPS) for your Company stood at Rs.39.29 in FY
2013-14, compared to Rs.27.70 in FY 2012-13.
The Operating Profit Margin stood at 10.59 % in FY 2013-14, an increase
of 202 basis points over the previous year. The Net Profit Margin stood at
6.43% in FY 2013-14, an increase of 77 basis points over the previous year.
Your Company remains a low debt company. Its long-term debt to equity
ratio stands at 0.49 as on 31st March, 2014. It was at 0.62 in the previous
year. Your Company is underleveraged and has a good borrowing capacity to
finance its growth plans.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st DECEMBER 2014
(Rs. In Million)
|
Particulars
|
Quarter Ended (Unaudited) |
Quarter Ended (Unaudited) |
Nine Months
ended (Unaudited) |
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
|
|
|
|
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
8093.300 |
10115.500 |
27603.300 |
|
b) Other operating income |
91.500 |
89.900 |
240.600 |
|
Total
income from Operations(net) |
8184.800 |
10205.400 |
27843.900 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
3461.600 |
3192.300 |
10373.700 |
|
b) Purchases of stock in trade |
4840.200 |
4262.400 |
13684.300 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(1734.400) |
912.600 |
(2153.300) |
|
d) Employees benefit expenses |
319.400 |
330.600 |
1042.400 |
|
e) Depreciation and amortization expenses |
296.600 |
274.100 |
871.800 |
|
f) Other expenditure |
799.900 |
898.100 |
2742.400 |
|
Total expenses |
7983.300 |
9870.100 |
26561.300 |
|
3. Profit from operations before other income and
financial costs |
201.500 |
335.300 |
1282.600 |
|
4. Other income |
113.300 |
91.300 |
276.300 |
|
5. Profit from ordinary activities before finance costs |
314.800 |
426.600 |
1558.900 |
|
6. Finance costs |
299.100 |
299.600 |
856.100 |
|
7. Net profit/(loss) from ordinary activities after finance costs but
before exceptional items |
15.700 |
127.000 |
702.800 |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax Expense: |
15.700 |
127.000 |
702.800 |
|
10.Tax expenses |
3.200 |
26.800 |
191.600 |
|
11.Net Profit
/ (Loss) from ordinary activities after tax (9-10) |
12.500 |
100.200 |
511.200 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
12.500 |
100.200 |
511.200 |
|
14.Paid-up equity share capital
(Nominal value Rs.10/- per share) |
882.000 |
882.000 |
882.000 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
-- |
-- |
-- |
|
16. i)Earnings per share (before extraordinary items) of Rs.10/- each (not annualised): |
-- |
-- |
-- |
|
(a) Basic |
0.14 |
1.14 |
5.80 |
|
(b) Diluted |
0.14 |
1.14 |
5.80 |
|
ii) Earnings per share (after extraordinary items) of Rs.10/- each (not annualised) |
|
|
|
|
(a) Basic |
0.14 |
1.14 |
5.80 |
|
(b) Diluted |
0.14 |
1.14 |
5.80 |
|
Particulars
|
Quarter Ended (Unaudited) |
Quarter Ended (Unaudited) |
Nine Months
ended (Unaudited) |
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
48103855 |
48103855 |
48103855 |
|
- Percentage of shareholding |
54.54 |
54.54 |
54.54 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
-- |
-- |
-- |
|
Percentage of shares (as a % of total share capital of the
company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
40101088 |
40101088 |
40101088 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
45.46 |
45.46 |
45.46 |
|
|
|
|
|
|
B.
Investor Complaints |
|
|
|
|
Pending at the beginning of the quarter |
0 |
|
|
|
Receiving during the quarter |
3 |
|
|
|
Disposed of during the quarter |
3 |
|
|
|
Remaining unreserved at the end of the quarter |
0 |
|
|
UNAUDITED SEGMENT
WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Particulars
|
Quarter Ended (Unaudited) |
Quarter Ended (Unaudited) |
Nine Months
ended (Unaudited) |
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
1. Segment Revenue |
|
|
|
|
a. Chemicals |
|
|
|
|
Manufactured |
4480.200 |
4251.500 |
13445.800 |
|
Traded |
1808.100 |
2445.100 |
6401.200 |
|
Total |
6288.300 |
6696.600 |
19847.000 |
|
(b) Fertilisers |
|
|
|
|
Manufactured |
93.100 |
159.500 |
1607.200 |
|
Traded |
830.500 |
3362.580 |
6705.600 |
|
Total |
1923.600 |
3522.080 |
8312.800 |
|
(c) Realty |
19.500 |
19.400 |
56.800 |
|
(d) Others |
2.700 |
26.500 |
64.100 |
|
Total |
8234.100 |
10264.800 |
28280.700 |
|
Less : Inter Segment Revenue |
49.300 |
59.400 |
436.800 |
|
Net Sales / Income from Operations |
8184.800 |
10205.400 |
27843.900 |
|
|
|
|
|
|
2. Segment Result (Profit before
Interest and Tax) |
|
|
|
|
a) Chemicals |
456.100 |
446.200 |
1740.900 |
|
(b) Fertilisers |
(59.700) |
97.600 |
227.400 |
|
(c) Realty |
(42.700) |
(39.400) |
(132.700) |
|
(d) Others |
(6.300) |
18.200 |
37.100 |
|
Total |
347.400 |
522.600 |
1872.700 |
|
|
|
|
|
|
Less : (i) Interest |
299.100 |
299.600 |
856.100 |
|
(ii) Other un-allocable expenditure net off un-allocable
income. |
32.600 |
96.000 |
313.800 |
|
Total Profit Before Tax from Ordinary Activities |
15.700 |
127.000 |
702.800 |
|
|
|
|
|
|
Profit before Tax |
|
|
|
|
3. Capital Employed |
|
|
|
|
a) Chemicals |
15935.700 |
16186.900 |
15935.700 |
|
(b) Fertilisers |
6593.400 |
5142.300 |
6593.400 |
|
(c) Realty |
2487.500 |
2507.800 |
2487.500 |
|
(d) Others |
291.800 |
314.700 |
291.800 |
|
(e) Unallocated |
6727.400 |
7607.000 |
6727.400 |
|
Total |
32035.800 |
31758.700 |
32035.800 |
NOTES:
1.
The above unaudited financial results
for the quarter and nine months ended December 31, 2014 have been subjected to
a limited review by the statutory auditors of the Company.
2.
As per the requirements of the
Companies Act, 2013, the Company has re-assessed the remaining useful life and
residual value of the fixed assets taking into consideration requirement of
Schedule II of the Act. This has resulted in an additional charge of depreciation
amounting to Rs.34.354 Million for the quarter and Rs. 81.224 Million for the
nine months ended December 31, 2014. The written down value of assets of Rs.
38.657 Million as on April 01, 2014 (net of deferred fax of Rs. 19.905
Million), whose residual life is exhausted, has been adjusted against General
Reserve.
3.
Effective from May 15, 2014 the
domestic gas supply to the Company has been stopped, pursuant to an Order
passed by the Ministry of Petroleum and Natural Gas. As a consequence, the
Nitro phosphate plant has been under shut down. The Company is of the view that
this abrupt decision to stop the gas supply is arbitrary and discriminatory.
The Company has moved the Delhi High Court against the said Order. The Company
had simultaneously approached the Department of Fertilisers to reconsider its
decision of gas cut. The Government of India has, since, constituted an
Inter-Ministerial Committee to review its decision.
4.
Consequent to open offer made by SCM
Soilfert Limited(SSL), a wholly owned subsidiary of the Company, in terms of
Regulations 15(2) of SEBI (Substantial Acquisition of Shares and Takeovers)
Regulations 2011. In which the Company was person acting in concert, SSL
acquired 5.94% additional equity shares of Mangalore Chemicals & Fertilisers
Limited (MCFL). Subsequent to that, SSL sold 2.20% of equity shares held in
MCFL. This resulted in net shareholding of SSL at 29.05%. As at December 31,
2014.
5.
Exceptional Items represent cost of voluntary
separation scheme to employees at Tajola unit.
6.
During the period SCM Fertichem Limited
has become wholly owned subsidiary of the Company pursuant to investment of Rs.
0.433 Million in the said Company.
7.
Previous period's/ year's figures have
been reclassified / regrouped wherever necessary.
These results were reviewed by
the Audit Committee. The Board of Directors at its meeting held on February 11,
2015, approved the same.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10426207 |
09/04/2013 |
3,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, India |
B74446279 |
|
2 |
10372880 |
28/11/2013 * |
15,000,000,000.00 |
IL and FS TRUST COMPANY LIMITED |
Il & Fs Financial
Centreplot No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai,
Maharashtra |
B91795773 |
|
3 |
10248341 |
11/10/2010 |
500,000,000.00 |
CENTRAL BANK OF INDIA |
Mmo Building, 6th Floor, 55, Mahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400023, India |
A97674899 |
|
4 |
10245057 |
07/10/2010 |
1,150,000,000.00 |
The Hongkong And Shanghai Banking Corporation Limited |
Plot No. 139-140b,
Western Express Highway, Sahar |
A96437066 |
|
5 |
10206363 |
24/02/2010 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA |
Mmo Bldg, 6th Floor, 55, Mahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, India |
A81243370 |
|
6 |
10204739 |
18/12/2012 * |
960,000,000.00 |
BANK OF BARODA |
Corporate Financial Service Branch, Mantri Court, 1st Floor, 39, Ramabai Ambedkar Road, Pune, Maharashtra - 411001, India |
B65872426 |
|
7 |
10146660 |
17/05/2013 * |
1,250,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, Maker Tower, 'E', Cuffe Parade,, Colaba,, Mumbai, Maharashtra - 400020, India |
B75911362 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
PRESS
RELEASE
DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED
REGISTERS MUTED PERFORMANCE IN Q1 FY 15
·
On
Q-on Q basis revenue drops 12%, PBT drops 54% & PAT by 56%
·
On
YoY basis, due to significant growth in trading operations, company managed to grow
its revenue by 27%, while PBT drops by 6% & PAT by 7%
Pune, July 31, 2014: Deepak Fertilisers and
Petrochemicals Corporation Ltd (DFPCL) today announced its financial results
for the Quarter-ended June 30, 2014 (Q1 FY 15).
The Company recorded a 12% decline in total
income to Rs.9453.700 Millionfor the quarter ended on 30th June,
2014 (Q1 FY 15) from Rs.10695.900 Millionin the preceding quarter of the
previous financial year (FY14). Profit before tax decreased to Rs.560.100
Millionin Q1 FY 15 as against Rs.1225.900 Millionin Q4 FY 14 and Profit after
tax stood at Rs.398.500 Millionin Q1 FY 15 as against Rs.914.400 Millionin Q4
FY 14.
However on YoY basis, revenue increased by
27% on the back of significant growth in trading operations, while PBT
decreased by 6% & PAT by 7%
The performance of the Company during the
quarter was adversely affected on account of abrupt stoppage of gas supply to
its plant at Taloja consequent to a decision by Ministry of Petroleum and
Natural Gas. The Company was compelled to shut down some of its plants, like
Ammonia, ANP and CO2 due to non-availability of natural gas. Being an
integrated plant, the gas stoppage also affected the utilities plants, thereby
increasing the operating costs.
The Company has challenged the decision of
stoppage of gas supply before Delhi High Court and is hopeful of resolution of
the issue to the satisfaction of all concerned.
The Chemicals segment registered a growth of
26% to Rs.6770.300 Millionin Q1 FY 15 from Rs.5361.000 Millionin Q1 FY 14,
riding on the back of 124% growth in trading operations. During the quarter,
Propylene plant of one of our key raw material supplier was under planned shut
down for around 40 days affecting the IPA production. Further subdued demand
for Technical Ammonium Nitrate impacted the segment results. Segment profit
therefore dropped by 5% during the quarter to Rs.715.300 Millionas against
Rs.752.900 Millionduring the same period last year.
DEEPAK FERTILISERS STRONG Q3 PERFORMANCE; NET PROFIT DOUBLES
- Profit before Tax (PBT) is up by 117% on YoY basis and Profit after Tax (PAT) is up by 103%
- Revenue grows by 63%
- Fertilisers and Chemicals segment revenue up 78% and 57% respectively
Mumbai/Pune, January 29, 2014: Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) today announced its financial results for the Quarter-ended December 31, 2013 (Q3 FY 14).
Total Income, on a Q-on-Q basis, grew marginally, while Profit before Tax grew 42% and Profit after Tax grew 41%. The combined performance of Chemicals as well as Fertilisers segments helped the Company in achieving such a positive result.
The Chemicals segment registered a growth of 57% to Rs. 6509.900 Millionin Q3 FY 14 from Rs.4139.400 Millionin Q3 FY13. The key products like Iso Propyl Alcohol and Technical Ammonium Nitrate registered a growth of 12% and 36% respectively. Profits for the Chemicals segment stood at Rs. 795.400 Millionin Q3 FY 14 as against Rs.560.700 Millionin Q3 FY 13 registering a growth of 42%. Easing of raw materials prices like Ammonia and its subsequent stability, better realization of products like Methanol and IPA contributed towards profitability of the segment.
A good
monsoon, strong portfolio of brands and the Company’s continued focused efforts
towards operational excellence helped the Agri-business register a 78% growth
to Rs.4015.500 Millionin the current quarter as against Rs.2251.300 Millionin
the same period last year. The quarter witnessed a sharp rise in volumes of
company’s manufactured fertilizers and traded non-subsidized specialty
fertilizers. Segment profitability for the Agri-business thus grew to Rs.
550.700 Millionin Q3 FY 14 against Rs.139.400 Millionin Q3 FY 13. On Q-on-Q
basis the segment revenue dropped by 11% because of lower bulk fertilizer
traded volume, but profit grew by 14% mainly due to improved margins on
non-subsidized specialty fertilizers and marked to market forex gains.
Finance cost for Q3 FY14 was lower than Q2 FY14 due to stable currency situation. Exceptional item in Q3 FY14 represents the amount paid towards the company’s Voluntary Retirement Scheme.
For the nine months period ending on December 31, 2013, DFPCL recorded a growth of 41% on a Y-on-Y basis with income from operations rising to Rs.27460.600 Millionfrom Rs.19472.000 Millionin same period last year. Profit before Tax stood at Rs.2138.000 Millionduring the nine months period as against Rs.1596.900 Millionin comparable period last year. Profit after Tax stood at Rs.1524.400 Millionin the current period against Rs.1177.900 Millionin same period last year.
Mr. Sailesh C. Mehta, Chairman and Managing Director – DFPCL, said: “Our continuous efforts towards maximizing capacity utilization and operational excellence supported by favorable external factors like softening of raw material prices and stabilizing of currency have resulted in an overall strong performance of the organization. The capacity utilization of two of our key products i.e. IPA and Nitro Phosphate fertilizer are near maximum and in case of third key product Ammonium Nitrate, despite temporary sluggish growth in the mining industry, the plant is ramping up towards full capacity utilization.
Considering the significant growth prospects in the core sectors of agriculture, mining and pharma, in which the company operates, we are actively pursuing various organic and inorganic growth opportunities; which we should be able to finalize in the forthcoming quarters.”
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.63.19 |
|
|
1 |
Rs.94.94 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
72 |
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.