MIRA INFORM REPORT
|
Report No. : |
336414 |
|
Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
CORE CHEMICALS (MUMBAI) PRIVATE LIMITED (w.e.f.
19.09.2002) |
|
|
|
|
Formerly Known
As : |
NIVATU METALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
65, Babu Genu Street, Kalbadevi, Mumbai – 400 002, Maharashtra |
|
Tel. No.: |
91-22-22033521/ 22002524 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 (Provisional) |
|
|
|
|
Date of
Incorporation : |
31.03.1969 |
|
|
|
|
Com. Reg. No.: |
11-014243 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.000
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1969PTC014243 |
|
|
|
|
IEC No.: |
0303032383 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC09790E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN3376Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing of
specialties chemicals like surfactants, emulsifiers used for manufacturing
pesticides, fungicides and herbicides. |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company incorporated during the year 1969. It has a satisfactory
track record. For the financial
year 2014, the company possesses fine operational profile backed decent sales
turnover along with profitability margin of 0.94%. Further, the
company good financial risk profile marked by above an average networth
position and favorable gap between trade payables and receivables. Trade relations
are reported as fair. Business is active. Payment terms are reported to be
slow but correct. In view of long
business track record, the company can be considered for 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long-Term Bank Facilities: BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
09.10.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short-Term Bank Facilities: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
09.10.2014 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Sudhir Shetty |
|
Designation : |
General Manager – Finance
and Accounts |
|
Contact No.: |
91-22-61242828 |
|
Date : |
11.08.2015 |
LOCATIONS
|
Registered Office : |
65, Babu Genu Street, Kalbadevi, Mumbai – 400 002, Maharashtra, India |
|
Tel. No.: |
91-22-22033521/ 22002524 |
|
Fax No.: |
91-22-22033522 |
|
E-Mail : |
nhg@corechemicals.com - (Chairman and MD) skvashisht@corechemicals.com - (Technical) kritika@corechemicals.com - (Marketing) aditya@corechemicals.com - (Corporate affair and Marketing) shetty_accounts@corechemicals.com - (Finance and Account) amol_purchase@corechemicals.com - (Purchase) krishna@corechemicals.com
- (Audit and Government
authorities) |
|
Website : |
|
|
|
|
|
Corporate Office : |
A-304, Shah and Nahar Industrial Estate, Dr. E. Moses Road, Worli, Mumbai – 400 018, Maharashtra, India |
|
Tel. No.: |
91-22-61242828/ 61242802 |
|
Fax No.: |
91-22-61242829 |
|
|
|
|
Manufacturing Site 1 : |
Plot No.A-35,
M.I.D.C., Badlapur (East), District Thane – 421 503, Maharashtra, India |
|
|
|
|
Manufacturing Site 2 : |
Plot No.43, Sector II,
Vasai Taluka Cooperative Industrial Estate, Gauraipada, |
|
|
|
|
Manufacturing Site 3 : |
Plot No.A-35/1,
M.I.D.C., Badlapur (East), District Thane – 421 503, Maharashtra, India |
|
|
|
|
In-House Research and Development Center : |
Located at: ·
Vasai,
Thane |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Nandu Hariprasad Gupta |
|
Designation : |
Director |
|
Address : |
Gold
Cornet Annex-11, 1st Floor, Gamadia Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Appointment : |
31.08.2001 |
|
DIN No.: |
00335406 |
|
|
|
|
Name : |
Mrs. Pramila Nandu Gupta |
|
Designation : |
Director |
|
Address : |
Gold
Cornet Annex-11, 1st Floor, Gamadia Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Appointment : |
03.04.2002 |
|
DIN No.: |
00335461 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir Shetty |
|
Designation : |
General Manager – Finance
and Accounts |
|
|
|
|
Name : |
Mr. S. K.
Vashisht |
|
Designation : |
Senior Vice
President Techno Commercial |
|
|
|
|
Name : |
Mr. S. K. Pandey |
|
Designation : |
Head
Manufacturing |
|
|
|
|
Name : |
Mr. Yogesh Mali |
|
Designation : |
Head Q.C. and R
& D |
|
|
|
|
Name : |
Mrs. Kritika A.
Patel |
|
Designation : |
General Manager - Marketing and Business Development |
|
|
|
|
Name : |
Mr. S.
Krishnamurthy |
|
Designation : |
General Manager - Audit and Administration |
|
|
|
|
Name : |
Mr. S. K. Das |
|
Designation : |
General Manager - Project, Maintenance and HSE |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Nandu Hariprasad Gupta |
15500 |
38.75 |
|
Pramila
Nandu Gupta |
15500 |
38.75 |
|
Core Chemical Private Limited, India |
9000 |
22.50 |
|
Total |
40000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20336414_MIRA%2012-Aug-2015_files/image014.gif)
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
22.50 |
|
Directors
or relatives of directors |
|
77.50 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of
specialties chemicals like surfactants, emulsifiers used for manufacturing
pesticides, fungicides and herbicides. |
|
|
|
|
Products : |
· Non Ionic Surfactants for Agrochemicals · Anionic Surfactants for Agrochemicals · Dispersing and Wetting Agents for WP Formulations · Other Specialty Products · Blended two Component Emulsifiers Systems for Pesticide Formulations - Highlights · General Specifications of Two Component Emulsifier Systems for EC · Dosage Chart for Complete Range of Products · EC and SL Formulations · WP, WDG, SP and WSG Formulations · SC Formulations · EW Formulations · Cartap Formulations · FS Formulations · CS Formulations |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
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|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2012):
(As Certified by the Management):
|
Particulars |
31.03.2012 |
|
Licensed Capacity |
Not Applicable |
|
Installed Capacity |
8700 Tonnes of
Chemicals |
|
Particulars |
Unit |
Actual
Production |
|
Chemicals |
Kgs. |
5365747 |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers
·
Agrimas Chemicals
Limited ·
Anu Products
Limited ·
Bayer India Limited ·
Bharat Insecticides
Limited ·
Crystal Phosphates
Limited ·
Dhanuka Agritech
Limited ·
EI-Dupont ·
Gujarat
Superphosphates Limited ·
Hyderabad Chemicals
Limited ·
Insecticide India
Limited ·
Isagro Asia
(Private) Limited ·
Monsanto Chemicals
Limited ·
Nagarjuna
Agrochemicals Limited ·
PI Industries
Limited ·
Pioneer Pesticides
Limited ·
Saraswati Agro
Chemicals (India) Private Limited ·
Syngenta India
Limited ·
United Phosphours
Limited ·
Vimal Pesticides ·
Rallies India
Limited |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
35 (Approximately) |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Bankers : |
Bank
of Baroda, Gowalia Tank Branch, 19, August Kranti Marg, Mumbai – 400 007,
Maharashtra, India |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Vishal H. Shah and Associates Chartered Accountants |
|
Address : |
A-302, Kailas Esplande, Opposite Shreyas Cinema, L.B.S. Marg,
Ghatkopar (West), Mumbai – 400 086, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFPS8525D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Entities over
which key Management Personnel and their relatives are able to exercise
significant influence : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000 |
Equity Shares |
Rs.100/- each |
Rs.4.000
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.000 |
4.000 |
4.000 |
|
(b) Reserves &
Surplus |
56.483 |
50.821 |
39.857 |
|
(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) |
60.483 |
54.821 |
43.857 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
83.846 |
72.084 |
72.281 |
|
(b) Deferred tax
liabilities (Net) |
0.238 |
0.304 |
0.400 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
84.084 |
72.388 |
72.681 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
69.374 |
69.397 |
41.726 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
0.139 |
0.202 |
0.953 |
|
Total Current Liabilities
(4) |
69.513 |
69.599 |
42.679 |
|
|
|
|
|
|
TOTAL |
214.080 |
196.808 |
159.217 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
18.805 |
18.393 |
8.858 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
5.367 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
24.172 |
18.393 |
8.858 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
37.083 |
40.286 |
25.543 |
|
(c) Trade receivables |
140.300 |
127.673 |
101.421 |
|
(d) Cash and cash
equivalents |
1.662 |
1.801 |
14.622 |
|
(e) Short-term loans and
advances |
0.032 |
0.091 |
0.181 |
|
(f) Other current assets |
10.831 |
8.564 |
8.592 |
|
Total Current Assets |
189.908 |
178.415 |
150.359 |
|
|
|
|
|
|
TOTAL |
214.080 |
196.808 |
159.217 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 (Provisional) |
31.03.2013 (Provisional) |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation (Net) |
603.879 |
506.619 |
539.932 |
|
|
|
Other Income |
1.130 |
0.505 |
0.379 |
|
|
|
TOTAL |
605.009 |
507.124 |
540.311 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
511.631 |
427.641 |
|
|
|
|
Increase/ (Decrease) in Stock of FG/ WIP |
4.796 |
(14.267) |
|
|
|
|
Manufacturing Expenses |
46.205 |
46.402 |
|
|
|
|
Employee Benefits Expenses |
8.071 |
7.973 |
|
|
|
|
Other Expenses |
11.423 |
11.420 |
|
|
|
|
TOTAL |
582.126 |
479.169 |
523.392 (Including
financial and depreciation) |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
22.883 |
27.955 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
13.270 |
10.080 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.613 |
17.875 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.366 |
1.560 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
8.247 |
16.315 |
17.019 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.585 |
5.350 |
5.689 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
5.662 |
10.965 |
11.330 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
50.821 |
39.856 |
28.526 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
56.483 |
50.821 |
39.856 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
141.55 |
274.12 |
NA |
|
%20PRIVATE%20LIMITED%20-%20336414_MIRA%2012-Aug-2015_files/image003.gif){kind=small}
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
400.000 (Due to market
fluctuation) |
|
|
|
|
|
Expected Sales (2015-2016): Rs.450.000 million
The above information has been parted by Mr. Sudhir Shetty (General Manager – Finance and Accounts).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 (Provisional) |
31.03.2013 (Provisional) |
31.03.2012 |
|
Current maturities of long-term debt |
NA |
NA |
NA |
|
Cash generated from
operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 (Provisional) |
31.03.2013 (Provisional) |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.94 |
2.16 |
2.10 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.79 |
5.52 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.95 |
8.29 |
10.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.30 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.39 |
1.31 |
1.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.73 |
2.56 |
3.52 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 (Provisional) |
31.03.2014 (Provisional) |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Share Capital |
4.000 |
4.000 |
4.000 |
|
Reserves & Surplus |
39.857 |
50.821 |
56.483 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
43.857 |
54.821 |
60.483 |
|
|
|
|
|
|
Long-term borrowings |
72.281 |
72.084 |
83.846 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
72.281 |
72.084 |
83.846 |
|
Debt/Equity ratio |
1.648 |
1.315 |
1.386 |
%20PRIVATE%20LIMITED%20-%20336414_MIRA%2012-Aug-2015_files/image016.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 (Provisional) |
31.03.2014 (Provisional) |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Revenue from operations
(Net) |
539.932 |
506.619 |
603.879 |
|
|
|
(6.170) |
19.198 |
%20PRIVATE%20LIMITED%20-%20336414_MIRA%2012-Aug-2015_files/image018.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 (Provisional) |
31.03.2014 (Provisional) |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Revenue from operations
(Net) |
539.932 |
506.619 |
603.879 |
|
Profit |
11.330 |
10.965 |
5.662 |
|
|
2.10% |
2.16% |
0.94% |
%20PRIVATE%20LIMITED%20-%20336414_MIRA%2012-Aug-2015_files/image020.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity-Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG
TERM BORROWINGS |
|
|
|
From
Others |
|
|
|
11930
0% 30 years Convertible Debentures of Rs.100 each |
1.193 |
1.193 |
|
From
Directors / Shareholders |
0.665 |
8.508 |
|
From
Companies - Core Chemicals Private Limited |
0.999 |
0.854 |
|
Krishna
Antioxidants Private Limited (Loan) |
1.875 |
1.875 |
|
From
Others |
0.154 |
1.725 |
|
Total
|
4.886 |
14.155 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10420163 |
04/03/2013 |
40,000,000.00 |
BANK OF BARODA |
GOWALIA TANK BRANCH, 19, AUGUST
KRANTI MARG, MUMBAI, MAHARASHTRA - 400007, INDIA |
B73318479 |
|
2 |
10367812 |
20/07/2012 |
30,000,000.00 |
BANK OF BARODA |
GOWALIA TANK BRANCH, 19,
AUGUST KRANTI MARG, MUMBAI, MAHARASHTRA - 400007, INDIA |
B44611226 |
|
3 |
10304031 |
03/08/2011 |
15,000,000.00 |
BANK OF BARODA |
GOWALIA TANK BRANCH, 19,
AUGUST KRANTI MARG, MUMBAI, MAHARASHTRA - 400007, INDIA |
B19524040 |
|
4 |
80033083 |
06/11/2013 * |
177,200,000.00 |
BANK OF BARODA |
GOWALIA TANK BRANCH, 19, AUGUST
KRANTI MARG, MUMBAI, MAHARASHTRA - 400007, INDIA |
B89919740 |
|
5 |
80045935 |
04/03/2013 * |
137,200,000.00 |
BANK OF BARODA |
GOWALIA TANK BRANCH, 19,
AUGUST KRANTI MARG, MUMBAI, MAHARASHTRA - 400007, INDIA |
B73317638 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Factory Building
·
Plant and Machinery
·
Office Equipment
·
Air Conditioner
·
Electrical Installation
·
Furniture and Fixtures
·
Electrical Motor
·
Motor Car
·
Computers
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 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.64.17 |
|
UK Pound |
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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.