MIRA INFORM REPORT

 

 

Report No. :

354412

Report Date :

14.12.2015

 

IDENTIFICATION DETAILS

 

Name :

STRUCTURAL WATER PROOFING COMPANY PRIVATE LIMITED (w.e.f. 26.09.2002)

 

 

Formerly Known As :

THE STRUCTURAL WATER PROOFING COMPANY PRIVATE LIMITED

 

 

Registered Office :

38/1, Block-GN, Sector IV & V, Salt Lake City, Kolkata – 700091, West Bengal

Tel. No.:

91-33-23573546 / 40102700 / 23573547 / 48

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.03.1950

 

 

Com. Reg. No.:

21-018695

 

 

Capital Investment / Paid-up Capital :

Rs.45.556 Million

 

 

CIN No.:

[Company Identification No.]

U36992WB1950PTC018695

 

 

IEC No.:

0288043600

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELS06072D

 

 

PAN No.:

[Permanent Account No.]

AABCT0878M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Waterproofing Chemicals and Other Construction Chemicals. (Confirmed by management)

 

 

No. of Employees :

200 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of “CHRYSO, SAS”, FRANCE. It is a Kolkata based company incorporated in 1950 having satisfactory track.

 

Subject is engaged in the business of manufacturing, importing and exporting of water proofing chemicals and other construction chemicals.

 

Management has witnesses a decent financial profile marked by adequate net worth base, significant improvement in sales turnover and debt free balance sheet of the company.

 

Further, the rating also derives strength from its holding company and its experienced management team.

 

Moreover, the rating strength is partially offset by a loss incurred by the company during FY 2014 and unfavorable gap between trade payables and trade receivables.

 

Trade relations are reported as fair. Business is active. Payments terms are reported as usually correct and as per commitments.

 

In view of long track record and strong holding support, the company can be considered normal 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.

 

 

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. Nitin Anand 

Designation :

Assistant General Manager – Corporate Purchase

Contact No.:

91-9769341221

Date :

12.12.2015

 

 

LOCATIONS

 

Registered/ Corporate Office :

38/1, Block-GN, Sector IV and V, Salt Lake City, Kolkata – 700091, West Bengal, India

Tel. No.:

91-33-23573546 / 40102700 / 23573547 / 48

Mobile No.:

91-9836428178 (Mr. Subratoo Sen Gupta)

91-9820105474 (Mr. Devendra Tripati)

91-9769341221 (Mr. Nitin Anand )

Fax No.:

91-33-23573881

E-Mail :

swccalcutta@satyam.net.in

francois.nguyen@chryso-swc.com

sales.kolkata@chryso-swc.com

sales-waterproofing.kolkata@chryso-swc.com

thierry.bernard@chryso.com

nitin.anand@chryso.com

Website :

www.chryso.com

Area :

2200 Sq. ft.

Location :

Leased

Locality :

Commercial

 

 

Factory 1 :

Plot No. 1401/1, 3rd Phase, GIDC, Vapi – 396195, Gujarat, India

Tel. No.:

91-260-2433928/ 2420673

Fax No.:

91-260-2433928/ 2400828

 

 

Factory 2 :

8/1, Sevak Vaidya Street, Kolkata – 700019, West Bengal, India

Area :

2200 sq. ft.

Location :

Leased

 

 

Factory 3:

A323, MIA Alwar, Rajasthan, India

Location :

Owned

 

 

Factory 4 :

7/10, Ambattur, Industrial Estate, Chennai, Tamilnadu, India  

Location :

Rented 

 

 

Factory 5 :

JL No.93, Mouza Zarura Delhi Road, Sungadhapanchayat Polva, Dadpur District Hooghly, Kolkata, West Bengal, India

Location :

Owned  

 

 

Research and Development Centre:

Plot No.D.30/7, TTC Industrial Area, MIDC, Turbhe, Navi Mumbai – 400705, Maharashtra, India

 

 

Manufacturing facilities :

Located At :

 

  • Noida

 

 

 

 

Branches Office :

·         Noida

B – Z9, Sector – IV, District Ghaziabad, Gautam Buddha Nagar, Noida – 201301, Uttar Pradesh, India

Location : Leased

 

·         Vapi

C-1-6124/6125, 4th Phase, G.I.D.C., Vapi- 396195, Gujarat, India

Location : Leased

 

·         Mumbai

54 and 56, Mahavir Centre, Sector – 17, Vashi, Navi Mumbai – 400703, Maharashtra, India

Tel. 91-22-27893601

Fax. 91-22-27893571

E-Mail: swcmumbai@sify.com

swcbom@bom5.vsnl.net.in

 

·         Delhi

406, Deepali, 92, Nehru Place, New Delhi – 110 019, India

Tel. 91-11-26435432 / 26445680

Fax. 91-11-26221055 / 26416861

E-Mail: swcdelhi@satyam.net.in         

 

H-19/B, Sector -9, Noida – 201 301, Uttar Pradesh, India

Tel No.: 91-120-4763200

Fax No.: 91-120-4763222

E-Mail: swcdelhi@satyam.net.in         

 

·         Chennai

No.2, Sardar Patel Road, Gokul Arcade, 5th Floor, Adyar, Chennai – 600 020, Tamilnadu, India

Tel No: 91-44-2442371

Fax No: 91-44-244422476

E-Mail: 12345@yahoo.co.in

 

A-39, SIDCO Industrial Estate, Pattarvakkam, Ambattur, Chennai – 600 098. Tamilnadu, India

Tel No.: 91-44-26248757/43111443

Fax No.: 91-44-26247901

E-Mal: swcchn123@yahoo.co.in

 

G-6, Brown Nest Apartment, No. 73, 2nd Main Road, Gandhi Nagar, Adyar, Chennai – 600020, Tamilnadu, India

 

 

Business Centre :

Located at

 

Jamshedpur

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Giles Austen Everitt

Designation :

Managing Director

Address :

1001/1002, 10th Floor, Capri Heights Co-Operative Housing Society Limited, ST Andrews Road, Pali Hill, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

21.04.1967

Date of Appointment :

27.09.2013

DIN No :

06644886

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U36992WB1950PTC018695

STRUCTURAL WATER PROOFING COMPANY PRIVATE LIMITED

Managing director

27/09/2013

01/08/2013

Active

NO

2

U33125WB1988PTC044846

SWC ENGINEERING SERVICES PRIVATE LIMITED

Director

27/09/2013

14/08/2013

Active

NO

 

 

Name :

Mr. Lubbertus Pieter Dijkema

Designation :

Director

Address :

263 BD Jean Jaures Boulogne Billan Court France 92100

Date of Birth/Age :

22.05.1958

Date of Appointment :

20.12.2006

DIN No :

01186155

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U33125WB1988PTC044846

SWC ENGINEERING SERVICES PRIVATE LIMITED

Director

20/12/2006

20/12/2006

Active

NO

2

U36992WB1950PTC018695

STRUCTURAL WATER PROOFING COMPANY PRIVATE LIMITED

Director

20/12/2006

20/12/2006

Active

NO

 

 

Name :

Mr. Eesure Fabienne Nathalie Conus

Designation :

Director

Address :

15, RUE Anatole Chatou, France-78400

Date of Birth/Age :

17.03.1967

Date of Appointment :

17.09.2009

DIN No :

02646715

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U36992WB1950PTC018695

STRUCTURAL WATER PROOFING COMPANY PRIVATE LIMITED

Director

17/09/2009

18/09/2008

-

Active

NO

 

Name :

Mr. Thierry Pierre Bernard

Designation :

Additional Director

Address :

55 RUE Cortambert Paris 75116 France

Date of Birth/Age :

24.05.1968

Date of Appointment :

29.09.2012

DIN No :

05180554

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U36992WB1950PTC018695

STRUCTURAL WATER PROOFING COMPANY PRIVATE LIMITED

Director

29/09/2012

23/01/2012

-

Active

NO

 

 

 

 

Name :

Mr. Dipanjan Sarkar

Designation :

Director

Address :

F/11, Katjunagar Colony, Kolkata - 700032, West Bengal, India

Date of Birth/Age :

25.01.1972

Date of Appointment :

27.09.2013

DIN No :

06629029

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U36992WB1950PTC018695

STRUCTURAL WATER PROOFING COMPANY PRIVATE LIMITED

Director

27/09/2013

01/08/2013

-

Active

NO

 

 

KEY EXECUTIVE

 

Name :

Mr. Nitin Anand 

Designation :

Assistant General Manager – Corporate Purchase

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

 

No. of Shares

 

 

 

Chryso Sas, France

 

455534

Giles Austen Everitt

 

25

 

 

 

Total

 

455559

 

 

AS ON 30.09.2014

 

Equity Shares Break – up

 

Category

 

Percentage

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

99.99

Directors or relatives of directors

 

0.01

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Waterproofing Chemicals and Other Construction Chemicals. (Confirmed by management)

 

 

Products :

Products Description

Item Code No.

 

Struco-N/Supaplast

3824.9

 

·         Cement and Concrete Water Proofers

·         Concrete and Mortar Admixtures

·         Concrete AIDS

·         Protective Coatings, Membranes and Impregnation

·         Grouts and Groutings Additives

·         Floorings

·         Tunneling and Shotcrete Products

·         Sealants

·         Tile Adhesives

·         Repairing Compounds

·         Cement AIDS

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Waterproofing chemicals and other construction chemicals

Countries :

South East Asia Countries

 

 

Imports :

 

Products :

Raw Material

Countries :
  • USA
  • France
  • Africa
  • Russia
  • China
  • Malaysia

 

 

Terms :

 

Selling :

Cash, Cheque and Credit

 

 

Purchasing :

Cash, Cheque and Credit

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

Not Divulged 

Contact No.:

Not Divulged 

Since How Long Known :

Not Divulged 

Maximum Limit Dealt :

Not Divulged 

Experience :

Not Divulged 

Remark:

Not Divulged 

 

 

Customers :

End Users

 

Reference :

Not Divulged 

Name of the Person :

Not Divulged 

Contact No.:

Not Divulged 

Since How Long Known :

Not Divulged 

Maximum Limit Dealt :

Not Divulged 

Experience :

Not Divulged 

Remark:

Not Divulged 

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :

 

Bank Name

HDFC Bank Limited

Branch

HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India 

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Auditors :

 

Name :

A. R. Das and Associates

Chartered Accountants

Address :

1,2 &3, Woodburn Court, Woodburn Road, Kolkata-700020, West Bengal, India

Email :

ardsys2002@rediffmail.com

PAN No.:

AADFA8553H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Chryso, SAS

 

 

Ultimate Holding company :

Materis Corporate Services

 

 

 

Subsidiaries Company :

SWC Engineering Services Private Limited

 

 

Fellow Subsidiaries Companies :

·         Chryso Inc.

·         Chryso South Africa

·         Chryso France

·         Parex Davco - Singapore

·         Parex Davco - Thailand

·         Parex Davco - Malayasia

·         Chryso Middle East

·         ABE Construction Chemicals Limited

·         CCC Parex LLC

·         Kerneos Asia

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500,000

Equity Shares

Rs.100/- each

Rs.50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

455,559

Equity Shares

Rs.100/- each

Rs.45.556 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

45.556

45.556

35.565

(b) Reserves & Surplus

127.125

200.613

146.234

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

59.943

Total Shareholders’ Funds (1) + (2)

172.681

246.169

241.742

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

4.217

6.151

5.228

(d) long-term provisions

5.288

3.453

4.842

Total Non-current Liabilities (3)

9.505

9.604

10.070

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

5.461

(b) Trade payables

1141.349

764.703

631.131

(c) Other current liabilities

33.681

34.088

24.223

(d) Short-term provisions

0.354

0.159

0.062

Total Current Liabilities (4)

1175.384

798.950

660.877

 

 

 

 

TOTAL

1356.570

1054.723

912.689

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

264.349

243.323

72.437

(ii) Intangible Assets

0.089

0.227

0.515

(iii) Capital work-in-progress

44.445

16.437

72.511

(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)

34.923

3.426

4.492

(d)  Long-term Loan and Advances

8.338

8.516

9.105

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

352.144

271.929

159.060

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

294.961

216.859

172.814

(c) Trade receivables

478.026

363.265

397.304

(d) Cash and cash equivalents

135.410

135.656

142.014

(e) Short-term loans and advances

96.600

66.310

40.341

(f) Other current assets

0.429

0.704

1.156

Total Current Assets

1005.426

782.794

753.629

 

 

 

 

TOTAL

1357.570

1054.723

912.689

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

1388.916

1108.181

1104.154

 

Other Income

16.829

11.732

6.379

 

TOTAL

1405.745

1119.913

1110.533

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

1484.784

1097.425

1035.383

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

(79.039)

22.488

75.150

 

 

 

 

 

Less

FINANCIAL EXPENSES

1.694

0.973

1.657

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

(80.733)

21.515

73.493

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

24.253

13.054

10.897

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(104.986)

8.461

62.596

 

 

 

 

 

Less

TAX

(31.498)

4.033

14.944

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(73.488)

4.428

47.652

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

33.294

28.866

(18.785)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

(40.194)

33.294

28.866

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

64.691

 16.403

9.074

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(161.31)

9.72 

13.40

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1560.000

 

 

 

 

 

The above information has been parted by Mr. Nitin Anand (Assistant General Manager – Corporate Purchase).

 

 

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

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

74.114

137.154

182.661

Net cash flows from (used in) operating activities

58.261

115.422

169.067

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin
(PAT / Sales)

(%)

(5.29)

0.40

4.32

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

(5.69)

2.03

6.81

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(8.21)

0.82

7.49

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.61)

0.03

0.26

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.00

0.00

0.02

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.86

0.98

1.14

 

 

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

35.565

45.556

45.556

Reserves & Surplus

146.234

200.613

127.125

Share Application money pending allotment

59.943

0.000

0.000

Net worth

241.742

246.169

172.681

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

5.461

0.000

0.000

Total borrowings

5.461

0.000

0.000

Debt/Equity ratio

0.023

0.000

0.000

 

 

 

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

1104.154

1108.181

1388.916

 

 

0.365

25.333

 

 

 

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

1104.154

1108.181

1388.916

Profit/Loss

47.652

4.428

(73.488)

 

4.32%

0.40%

(5.29%)

 

 

 

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

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)

Yes

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

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 for last four 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

 

 

 

change of address:-

 

The Registered office of the company has been shifted from “CICO House, 21/1, Dover Road, Kolkata – 700 019, West Bengal, India” to present w.e.f. 01.12.2006.

 

 

OPERATIONS

 

The Directors report that the company achieved a 22.17% positive growth in terms of gross turnover; the gross turnover was INR 1535.870 Million in the financial year which was INR 1257.141 Million in the previous year.

 

A strategy to focus on marketing of core business of concrete admixtures, concrete aids and cement grinding aid backed by R and D and technical service. The company had incurred a net Loss of INR 104.986 Million before tax due to unrealized forex loss arisen on converting accumulated foreign currency liabilities at year end rate and also hike of Raw Material cost abnormally.

 

Safety and concern for the environment are the guiding principles for development of their manufacturing facilities. In all units across pan India the safety and environment measures are pursued in tune of the global standard of their parent organization.

 

Procurement and supply chain economies are an essential driver of profitability. The international procurement processes of CHRYSO were integrated in all zones to give a competitive lead in servicing Customers in India.

 

 

FUTURE PROSPECTS

 

Marketing plans have been made for each business unit to achieve the Five year business plans set out in early 2011. The Group expert from abroad regularly visiting India to conduct seminars for major customers. This is being followed up by technology transfer visits.

 

Considering the growth and future prospect of the business the Company has initiated the process of setting up modern production Unit in East.

 

The strength of the Company is in its experienced employees. Key technical staff have been trained in India and in Paris to deliver innovative technical solutions for Customer concrete mix design and performance enhancers. National meetings help sharing of knowledge.

 

Technical marketing and Finance and Accounts teams have been strengthened with recruitment of industry experts with track record of success. The employees have been trained to develop their skills.

 

 

CORPORATE INFORMATION

 

The Structural Waterproofing Company Private Limited (SWC) is a wholly owned subsidiary of Chryso SAS. Materis Corporate Services, France is the ultimate holding company.

 

SWC is engaged in the business of manufacturing and dealing in waterproofing chemicals and other construction chemicals.

 

SWC has manufacturing facilities at Kolkata, Vapi, Noida, Ambattur and Alwar.

 

 

INDEX OF CHARGES:

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10105822

18/01/2011 *

239,250,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA

B07479371

2

10105823

18/01/2011 *

239,250,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA

B07479660

3

10068351

18/01/2011 *

239,250,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA

B07478878

 

* Date of charge modification

 

 

FIXED ASSETS:

 

·         Land - Freehold

·         Land - Leasehold

·         Buildings

·         Plant and Machinery

·         Furniture and Fittings

·         Vehicles

 

 

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.66.78

UK Pound

1

Rs.101.10

Euro

1

Rs.73.10

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SUJ

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--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

 

49

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.