MIRA INFORM REPORT
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Report No. : |
337661 |
|
Report Date : |
22.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
EKSOY CHEMICALS
INDIA PRIVATE LIMITED |
|
|
|
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Registered
Office : |
B-91, Shaligram-1, B/h Anandnagar Police Station, Opposite Jhansi Rani
Statue, Satellite, Ahmedabad – 380015, Gujarat |
|
Tel. No.: |
Not Available |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.06.2013 |
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Com. Reg. No.: |
04-075653 |
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Capital Investment
/ Paid-up Capital : |
Rs.14.920 Million |
|
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CIN No.: [Company Identification
No.] |
U24100GJ2013PTC075653 |
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IEC No.: |
Not Available |
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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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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
To carry on the business in India
or elsewhere of manufacturers and dealers in all kind of chemical and dyes,
chemicals compound (organic and inorganic) in all forms, and chemical
products of any nature and kind whatsoever, and all byproducts and joint
products thereof including textile dyes, textile chemicals and fluorescent
brightener. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 38000 |
|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively newly incorporated company established in the year
2013. It is the subsidiary of Eksoy Chemical Industry and Commerce
Incorporated company, Turkey. It has a moderate track record. In the view of company’s first year of business activities, the
company has performed below average operational activity and incurred losses. Further, the company good capital structure and no external borrowings
where, it has negative reserves position. However, trade relations are improving. Business is active. Payment
terms are slow but correct. In view of limited business track record, the company can be
considered for business dealings with some cautions. |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
NOT AVAILABLE
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.
LOCATIONS
|
Registered Office : |
B-91, Shaligram-1, B/h Anandnagar Police Station, Opposite Jhansi Rani
Statue, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 29.09.2014
|
Name : |
Arda Soydan |
|
Designation : |
Director |
|
Address : |
36b3/ Single, Kemer Hill Sitesi, Cesmebasi Cad., Gokturk Merkez Mah., Istanbul, Eyup, 34050, Turkey |
|
Date of Appointment : |
18.06.2013 |
|
DIN No.: |
06565443 |
|
|
|
|
Name : |
Bulent Seyhan |
|
Designation : |
Director |
|
Address : |
79/12, Kayalik Sk., Baglik Mah., Zonguldak, Eregli, 67000, Turkey |
|
Date of Appointment : |
18.06.2013 |
|
DIN No.: |
06565454 |
|
|
|
|
Name : |
Ayca Gozek |
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Designation : |
Director |
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Address : |
4a7/1, Panoroma Villalari, Panayir Cayiri Cad., Gokturk Merkez Mah., Istanbul, Eyup, 34050, Turkey |
|
Date of Appointment : |
14.08.2013 |
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DIN No.: |
06614118 |
|
|
|
|
Name : |
Huseyin Cetin Tumer |
|
Designation : |
Director |
|
Address : |
3/12, Senler Apartment B. Blk, 1102 Sk, Pirireis Mah., Yenisehir, Mersin, 33000, Turkey |
|
Date of Appointment : |
28.10.2013 |
|
DIN No.: |
06735986 |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Eksoy Kimya Sanayi Ve Tacaret Anonim Sirketi (alias Eksoy Chemical
Industry and Commerce Incorporated Company) |
|
1417500 |
|
Bulent Seyhan S/o. Ahmet Seyhan |
|
74500 |
|
Total |
|
1492000 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
95.00 |
|
Directors or relatives of Directors |
5.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business in India
or elsewhere of manufacturers and dealers in all kind of chemical and
dyes, chemicals compound (organic and inorganic) in all forms, and chemical
products of any nature and kind whatsoever, and all byproducts and joint
products thereof including textile dyes, textile chemicals and fluorescent
brightener. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Auditors : |
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|
Name : |
Agrawal and Mandowara Chartered Accountants |
|
Address : |
709, Hemkoot Complex, Opposite Nehru Bridge, Ashram Road, Ahmedabad –
380009, Gujarat, India |
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PAN No.: |
AABFA3608D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Eksoy Chemical Industry and Commerce Incorporated Company, Turkey |
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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 |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1492000 |
Equity Shares |
Rs.10/- each |
Rs.14.920
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2014 |
|
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|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
14.920 |
|
(b) Reserves &
Surplus |
|
|
(1.370) |
|
(c) Money received
against share warrants |
|
|
0.000 |
|
|
|
|
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(2) Share Application
money pending allotment |
|
|
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
|
|
13.550 |
|
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
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|
0.000 |
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(b) Deferred tax
liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
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Total Non-current
Liabilities (3) |
|
|
0.000 |
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(4) Current Liabilities |
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|
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|
(a) Short term borrowings |
|
|
0.000 |
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(b) Trade payables |
|
|
0.000 |
|
(c) Other current
liabilities |
|
|
1.041 |
|
(d) Short-term provisions |
|
|
0.134 |
|
Total Current Liabilities
(4) |
|
|
1.175 |
|
|
|
|
|
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TOTAL |
|
|
14.725 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
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(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
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(i) Tangible assets |
|
|
0.742 |
|
(ii) Intangible Assets |
|
|
3.100 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets
under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.612 |
|
(d) Long-term Loan and Advances |
|
|
0.320 |
|
(e) Other Non-current
assets |
|
|
0.210 |
|
Total Non-Current Assets |
|
|
4.984 |
|
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|
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(2) Current assets |
|
|
|
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(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.004 |
|
(c) Trade receivables |
|
|
1.628 |
|
(d) Cash and cash
equivalents |
|
|
7.454 |
|
(e) Short-term loans and
advances |
|
|
0.585 |
|
(f) Other current assets |
|
|
0.070 |
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Total Current Assets |
|
|
9.741 |
|
|
|
|
|
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TOTAL |
|
|
14.725 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 |
|
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|
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TURNOVER |
|
|
1.694 |
|
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EXPENSES |
|
|
NA |
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PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
|
(1.825) |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.157 |
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|
PROFIT/ (LOSS) BEFORE TAX |
|
|
(1.982) |
|
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|
Less |
TAX |
|
|
(0.612) |
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PROFIT/ (LOSS) AFTER TAX
|
|
|
(1.370) |
|
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|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
(0.91) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
31.03.2014 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Cash generated from operations |
|
|
NA |
|
Net cash flows from (used in ) operations |
|
|
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(14.04) |
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Return on Investment (ROI) (PBT/Networth) |
|
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|
(0.15) |
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Debt Equity Ratio (Total Debt/Networth) |
|
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|
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
8.29 |
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 |
No |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 about nine months |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for firm about nine months |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
---------------------- |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note:
Registered address has been shifted from the
C/o. Rajsi Enterprises A-41, Shivam Estate, Near Ujala Circle, Sarkhej,
Ahmedabad – 382210, Gujarat, India to the present address w.e.f. 01.11.2013.
PERFORMANCE OF THE
COMPANY
The company have achieved total turnover of Rs.1.694 Million and the net loss for the year after tax Rs.1.370 Million after providing for the depreciation of Rs.0.157 Million. The directors of the company are hopeful to achieve better results in the coming years.
INDEX OF CHARGES: NO CHARGES
EXIST FOR THE COMPANY
FIXED ASSETS
- Computers
- Furniture and Fixtures
- Plant and Machinery
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration:
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration:
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws:
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards:
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government:
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package:
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report:
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.82 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.74.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.