MIRA INFORM REPORT
|
Report No. : |
353096 |
|
Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MATIX FERTILISERS AND CHEMICALS LIMITED (w.e.f. 16.07.2009) |
|
|
|
|
Formerly Known
As : |
MATIX
FERTILISERS AND CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
Panagarh Industrial Park, Panagarh, District – Bardhaman, Panagarh - 713148, West Bengal |
|
Tel. No.: |
91-343-2528009 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.07.2009 |
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|
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Com. Reg. No.: |
21-153272 |
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|
Capital
Investment / Paid-up Capital : |
Rs. 13166.154 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24120WB2009PLC153272 |
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IEC No.: |
0309055911 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAGCM1141D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Fertilizers. (Confirmed by management) |
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|
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Matrix Fertilizers Holdings Limited,
Mauritius incorporated in the year 2009. Mr. Shiv Shankar (Finance Head) has claimed that the project will
start from January 2016. As per the director’s report for the year 2014, the company has not
carried out operations and has incurred loss due to pre-operative expenses. The company has decent net worth base marked by moderate borrowings
and adequate cash accrual in the FY 2014. Trade relations are fair. Business is active. Payment terms are slow. The company can be considered for business dealings with some caution.
|
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Shiv Shankar |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-61167000 |
|
Date : |
03.12.2015 |
LOCATIONS
|
Registered Office : |
Panagarh Industrial Park, Panagarh, District – Bardhaman, Panagarh - 713148, West Bengal, India |
|
Tel. No.: |
91-343-2528009 |
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Fax No.: |
91-343-2528008 |
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E-Mail : |
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Website : |
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Corporate Office : |
Poonam Chambers, B Wing, 5th Floor, Dr. Annie Besant Road, Worli, Mumbai - 400 018, Maharashtra, India |
|
Tel. No.: |
91 - 22 - 6116 7000 |
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Fax No.: |
91 - 22 - 6116 7011 |
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Site: |
Mauza No - Pondali - 77, Ausgram 2, Panchayat Samity, Kota gram, District - Burdwan, West Bengal, India |
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Branch Address : |
Krishna Kunj, BK - 341, Sector 2, Salt Lake City, Kolkata-700091, West Bengal, India |
DIRECTORS
As on: 12.09.2014
|
Name : |
Mr. Peranamallur Narayanaswamy Devarajan |
|
Designation : |
Director |
|
Address : |
A-1 Ground Floor Nav Munjal Nagar-2, Chembur, Mumbai, 400089, Maharashtra, India |
|
Date of Birth/Age : |
15.02.1935 |
|
Date of Appointment : |
16.01.2010 |
|
DIN No.: |
00003842 |
|
|
|
|
Name : |
Mr. Lalit Surajmal Kanodia |
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Designation : |
Director |
|
Address : |
1201 Red Rose Apts., 44 Pochkhanwala Road, Worli, Mumbai, 400025, Maharashtra, India |
|
Date of Birth/Age : |
30.03.1941 |
|
Date of Appointment : |
19.04.2010 |
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DIN No.: |
00008050 |
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|
Name : |
Mrs. Rashmi Yogendra Kanodia |
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Designation : |
Director |
|
Address : |
Samudra Tarang, Keluskar Road North, Dadar, Shivaji Park,, Mumbai, 400028, Maharashtra, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
00096754 |
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|
|
|
Name : |
Mr. Yogendra Surajmal Kanodia |
|
Designation : |
Director |
|
Address : |
Samudra Tarang, Keluskar Road (North), Shivaji Park, Dadar, Mumbai, 400028, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1947 |
|
Date of Appointment : |
07.07.2009 |
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DIN No.: |
00107674 |
|
|
|
|
Name : |
Mr. Deepak Kumar Varma |
|
Designation : |
Director |
|
Address : |
Flat No.702, B Wing, Rushi Tower, Lokhandwala, Complex, Andheri(W)., Mumbai, 400053, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1942 |
|
Date of Appointment : |
26.01.2010 |
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DIN No.: |
00213394 |
|
|
|
|
Name : |
Mr. Nishant Yogendra Kanodia |
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Designation : |
Director |
|
Address : |
Samudra Tarang, Keluskar Road North, Dadar, Shivaji Park,, Mumbai, 400028, Maharashtra, India |
|
Date of Birth/Age : |
08.04.1978 |
|
Date of Appointment : |
07.07.2009 |
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DIN No.: |
02009880 |
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|
|
|
Name : |
Mr. Prithviraj Dhariwal |
|
Designation : |
Managing Director |
|
Address : |
5, Panhar, Flat No 3b, Abdul Gafar Khan Road, Worli Seaface, Worli, Mumbai, 400018, Maharashtra, India |
|
Date of Birth/Age : |
11.06.1951 |
|
Date of Appointment : |
01.09.2009 |
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DIN No.: |
02772870 |
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|
|
|
Name : |
Mr. Sandip Kumar Ghosh |
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Designation : |
Whole-Time Director |
|
Address : |
B - 504, Plot - 52, Sukhsagar Apartment, I P, Extension Patparganj New Delhi, New Delhi, 110092, Delhi, India |
|
Date of Appointment : |
28.09.2015 |
|
DIN No.: |
07300603 |
KEY EXECUTIVES
|
Name : |
Mr. Murli Manohar Purohit |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 19, 3rd Floor, Tulsi Vihar Chs,, Pandit Solicitor Road, Malad East, Mumbai, 400097, Maharashtra, India |
|
Date of Birth/Age : |
07.07.1970 |
|
Date of Appointment : |
21.05.2010 |
|
PAN No.: |
AHOPP7012J |
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|
|
|
Name : |
Mr. Vishnu Prakash Singhal |
|
Designation : |
Chief Executive Officer |
|
Address : |
C-804, Eternity Society, College Road, Teen Haath Naka Thane(W), Thane, 400604, Maharashtra, India |
|
Date of Appointment : |
04.04.2014 |
|
PAN No.: |
AXJPS7756F |
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|
|
|
Name : |
Mr. Shiv Shankar |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
LIST OF ALLOTTEES:
As on: 08.04.2015
|
Names of Shareholders |
|
No. of Shares |
|
NSK Holding Private Limited, India |
|
100000000 |
AS On: 12.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Yogendra Kanodia |
|
38000 |
|
Rahul Kanodia |
|
10 |
|
Priyadarshano Kanodia |
|
10 |
|
Rashmi Kanodia |
|
11950 |
|
Asha Kanodia |
|
10 |
|
Dr. Lalit Kanodia |
|
10 |
|
Siddarth Kanodia |
|
10 |
|
Matix Fertilizers Holdings Limited, Mauritius |
|
1480078387 |
|
Total |
|
1480128387 |
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fertilizers. (Confirmed by management) |
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|
Products : |
--- |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
250 Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
IDBI Trusteeship Services Limited, Asian Building, Ground
Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra,
India |
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|
|
|
Auditors : |
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|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai-400028, Maharashtra, India |
|
PAN |
ACHFS9180N |
|
|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
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Holding company: |
Matix Fertilisers Holding Limited, Mauritius |
|
|
|
|
Ultimate Holding
Company |
First Land Holding Limited, Mauritius |
CAPITAL STRUCTURE
After As on:
12.09.2014
Authorised Capital : Rs. 25000.000Million
Issued, Subscribed & Paid-up Capital : Rs. 18301.284 Million
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs. 20000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1316615401 |
Equity Shares |
Rs.10/- each |
Rs. 13166.154 Million |
|
|
|
|
|
As on: 12.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs. 20000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1480128387 |
Equity Shares |
Rs.10/- each |
Rs. 14801.284 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 |
13166.154 |
9794.063 |
8282.329 |
|
(b) Reserves & Surplus |
(287.261) |
(86.308) |
(64.117) |
|
(c) Money
received against share warrants |
421.982 |
663.295 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
13300.875 |
10371.050 |
8218.212 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
27687.756 |
19229.097 |
6904.032 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1484.323 |
1266.011 |
349.637 |
|
(d) long-term
provisions |
197.088 |
22.241 |
18.175 |
|
Total Non-current
Liabilities (3) |
29369.167 |
20517.349 |
7271.844 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
39.399 |
47.738 |
24.602 |
|
(c) Other
current liabilities |
4420.469 |
7334.760 |
2724.590 |
|
(d) Short-term
provisions |
11.082 |
9.823 |
6.461 |
|
Total Current
Liabilities (4) |
4470.950 |
7392.321 |
2755.653 |
|
|
|
|
|
|
TOTAL |
47140.992 |
38280.720 |
18245.709 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
992.880 |
1001.484 |
44.219 |
|
(ii)
Intangible Assets |
3.789 |
1.715 |
1.450 |
|
(iii)
Capital work-in-progress |
44372.119 |
34961.342 |
11118.266 |
|
(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 |
714.884 |
1521.629 |
5973.323 |
|
(e) Other
Non-current assets |
247.959 |
84.442 |
174.078 |
|
Total Non-Current
Assets |
46331.631 |
37570.612 |
17311.336 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
750.518 |
478.187 |
898.044 |
|
(e) Short-term
loans and advances |
31.293 |
44.873 |
35.433 |
|
(f) Other
current assets |
27.550 |
187.048 |
0.896 |
|
Total
Current Assets |
809.361 |
710.108 |
934.373 |
|
|
|
|
|
|
TOTAL |
47140.992 |
38280.720 |
18245.709 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
12.706 |
0.000 |
2.593 |
|
|
|
TOTAL (A) |
12.706 |
0.000 |
2.593 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Prior Period |
177.071 |
0.000 |
0.000 |
|
|
|
Employees benefits expense |
8.008 |
4.055 |
3.749 |
|
|
|
Other expenses |
11.072 |
18.136 |
17.915 |
|
|
|
TOTAL (B) |
196.151 |
22.191 |
21.664 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(183.445) |
(22.191) |
(19.071) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(183.445) |
(22.191) |
(19.071) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(183.445) |
(22.191) |
(19.071) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.508 |
0.000 |
0.532 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(200.953) |
(22.191) |
(19.603) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(86.307) |
(64.116) |
(44.513) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(287.260) |
(86.307) |
(64.116) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.17) |
(0.03) |
(0.04) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(13.962) |
(18.203) |
(21.664) |
|
Net cash flows from (used in) operating activities |
(18.084) |
(18.203) |
(21.664) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.63) |
(0.67) |
(0.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.08 |
1.85 |
0.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.18 |
0.10 |
0.34 |
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 |
8282.329 |
9794.063 |
13166.154 |
|
Reserves & Surplus |
(64.117) |
(86.308) |
(287.261) |
|
Money received against
share warrants |
421.982 |
663.295 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
8640.194 |
10371.050 |
12878.893 |
|
|
|
|
|
|
long-term borrowings |
6904.032 |
19229.097 |
27687.756 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
6904.032 |
19229.097 |
27687.756 |
|
Debt/Equity ratio |
0.799 |
1.854 |
2.150 |
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) |
|
Total Income |
2.593 |
0.000 |
12.706 |
|
|
|
(100.000) |
0.000 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
2.593 |
0.000 |
12.706 |
|
Profit (Loss) |
(19.603) |
(22.191) |
(200.953) |
|
|
(756.00%) |
0.00% |
(1581.56%) |
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
|
19 |
Major customers |
No |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
The Company) was incorporated on 7 July 2009 to set up a Greenfield Gas Based Ammonia Urea Project in Burdwan District, West Bengal. The proposed complex shall have 3850 MTPD (Metric Tonnes per day) single stream Urea Plant and 2200 MTPD Ammonia Plant and associated offsite and utility facilities
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
|
Estimated amount of contracts remaining to be executed on capital account and not provided for |
1694.725 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10598116 |
27/10/2015 * |
7,590,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, INDIA |
C68107622 |
|
2 |
10324407 |
19/12/2013 * |
32,630,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, INDIA |
B93914901 |
* Date
of charge modification
FIXED ASSETS:
- Land
- Buildings
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
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.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.