MIRA INFORM REPORT
|
Report No. : |
353560 |
|
Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAXMI ORGANIC INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
A-22/2/3, MIDC, Mahad, Raigarh – 402309, Maharashtra |
|
Tel. No.: |
91-2145-232548 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.05.1989 |
|
|
|
|
Com. Reg. No.: |
11-051736 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.050
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24200MH1989PLC051736 |
|
|
|
|
IEC No.: |
0392017369 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML05098C / MUML04695F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL2435R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject primarily manufactures Ethyl Acetate, Acetic Acid and Diketene Derivative Products (DDP). (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5410000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. As per registrar of companies the date of balance sheet (i.e.
financial field) is shown as 31.03.2015 but documents related to same for the
financial year ending 2015 is not available from any other sources. The rating takes into consideration strong financial risk profile of
the company marked by strong networth base along with comfortable debt level
in the year 2014. Further, company has achieved significant increase in its
sales turnover along with fair profit margin in the year under consideration. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of aforesaid, 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.
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 |
CRISIL |
|
Rating |
Long Term Rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
12.01.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2 |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
12.01.2015 |
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.
LOCATIONS
|
Registered Office : |
A-22/2/3, MIDC, Mahad, Raigarh – 402309, Maharashtra, India |
|
Tel. No.: |
91-2145-232548 |
|
Fax No.: |
91-2145-232203/ 04 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Corporate Office : |
Chandramukhi, 3rd Floor, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-49104444/ 22853753/ 5176/ 5177/ 22851316 (4 Lines) |
|
Fax No.: |
91-22-22853752/ 22850033 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. B-2/2, 3/1/1, 3/1/2 MIDC Mahad, District Raigad – 402309,
Maharashtra, India |
|
Tel. No.: |
91-2145-233302/ 233417/ 233161 |
|
Fax No.: |
91-2145-233418 |
|
|
|
|
Overseas Office : |
Laxmi Organic Industries (Europe)
B.V. Stoelmatter 32, 2292, JL Wateringen, The Netherlands |
|
Tel. No.: |
31 (0) 174820100 |
|
Fax No.: |
31 (0) 174820104 |
|
E-Mail : |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Ravi Vasudeo Goenka |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
242-C, Grand Paradi Apartment, August Kranti Marg, Mumbai – 400036,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.02.1962 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B. E. (Chemicals) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Experience : |
29 Years |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AACPG2667D |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00059267 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vasudeo Nathmal Goenka |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
242-C, Grand Paradi Apartment, August Kranti Marg, Mumbai – 400036,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.01.1940 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.05.1989 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AACPG2666C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00059215 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajeev Vasudeo Goenka |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
241-C, 24th Floor, Grand Paradi Apartment, August Kranti
Marg, Mumbai – 400036, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.08.1967 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com, MBA (Finance and Marketing) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AEKPG0054J |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00059346 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Desh Kedarnath Verma |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
West View 87, Woodhouse Road, Colaba, Mumbai – 400005, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.08.1938 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Bachelor in Law |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.05.1989 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00064077 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Manish Balkishan Chokhani |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
161, Silver Arch, Petit Hall Compound, 66 L Jagmohandas Marg,
Nepeansea Road, Mumbai – 400006, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.10.1966 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
28.09.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAFPG8219E |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00204011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Omprakash Venkatswamy Bundellu |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No.192, Jolly Maker Apartment II, Cuffe Parade, Mumbai – 400005,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.01.1950 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
21.02.2011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00032950 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Arun Keshav Dudhane |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
A-902, Ravechi Heights, A-Wing, 9th Floor, Plot No. 25, Sector-7,
Kharghar, Navi Mumbai – 410210, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.01.1955 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Bachelor in Chemical Engineering and Technology Master In Science |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00202524 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Radhesh Welling |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-1307, Oberoi Splendor, Jogeshwari Vikhroli Link Road, Andheri (East), Mumbai - 400060, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07279004 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Aniket Bavchandbhai Hirpara |
|
Designation : |
Company Secretary |
|
Address : |
B-103, Orchid, Agrawal and Doshi Complex, Kaul's Heritage City, Bhabhola, Vasai (West), Thane - 401202, Maharashtra, India |
|
Date of Appointment : |
01.09.2012 |
|
PAN No.: |
ABPPH4615N |
|
|
|
|
Name : |
Mr. Kaushik Das |
|
Designation : |
Chief Financial Officer |
|
Address : |
A/703, Raj Splendour, LBS Marg, Vikhroli (West), Mumbai - 400083, Maharashtra, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AAUPD6881E |
MAJOR SHAREHOLDERS
As on 30.09.2015
|
Names of Shareholders |
|
No. of Shares |
|
Vasodeo Goenka |
|
1685739 |
|
Ravi Goenka |
|
1399510 |
|
Rajeev Goenka |
|
1323000 |
|
Desh Verma |
|
10010 |
|
Uma Shankar Modi |
|
10 |
|
Manisha R. Goenka |
|
788010 |
|
Sandeep Ruia |
|
100 |
|
Sandeep Ruia |
|
100 |
|
Seema Ruia and Sanjay Ruia |
|
100 |
|
Sanjay Ruia and Seema Ruia |
|
100 |
|
Pushpa Devi Ruia and Sandeep Ruia |
|
100 |
|
Nilesh Ruparel (NRI) |
|
12500 |
|
Brij Mohan Mishra (NRI) |
|
100000 |
|
Suman Mishra (NRI) |
|
50000 |
|
Harshvardhan Goenka |
|
281000 |
|
Ravi Goenka HUF |
|
425000 |
|
Niharika Goenka |
|
470000 |
|
Aditi Goenka |
|
730000 |
|
Rajeev Goenka and Manisha Goenka |
|
13000 |
|
Vishwas Kunte |
|
11500 |
|
Vibha Bhandari |
|
2000 |
|
Avantika Goenka |
|
1260000 |
|
Brady Investments Private Limited, India |
|
188000 |
|
Vishwas Kunte and Aparna V. Kunte |
|
10000 |
|
Aryavrat Goenka |
|
37500 |
|
Hansa K. Agarwal and Kailash Agarwal |
|
192000 |
|
International Finance Corporation (W), United States of America |
|
1005802 |
|
Satwik Mishra |
|
2500 |
|
Sukruti Mishra |
|
2500 |
|
Satyakam Mishra |
|
2500 |
|
Meenu Satyakam Mishra |
|
2500 |
|
Total |
|
10005081 |
As on 24.09.2014
|
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 |
13.60 |
|
Bodies corporate |
1.88 |
|
Directors or relatives of Directors |
84.18 |
|
Other top fifty shareholders |
0.34 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject primarily manufactures Ethyl Acetate, Acetic Acid and Diketene Derivative Products (DDP). (Registered Activity) |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution : |
|
|
|
|
|
Auditors 1 : |
|
|
Name : |
Dayal and Lohia Chartered Accountants |
|
Address : |
Kamanwala Chambers, Office No.6 & 7, 1st Floor, Sir
P.M. Road, Fort, Mumbai – 400001, Maharashtra, India |
|
PAN No.: |
AAAFD1548C |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Natvarlal Vepari and Company Chartered Accountants |
|
Address : |
S-6, Oricon House, 4th Floor, 12 K Dubash Marg, Kala Ghoda, Mumbai – 400023, Maharashtra, India |
|
PAN No.: |
AAAFN2322E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
·
Cellbion Lifesciences Private Limited ·
Laxmi Lifesciences Private Limited ·
Laxmi Organic Industries (Europe) BV ·
Laxmi Petrochem Middle East FZC ·
Viva Lifesciences Private Limited ·
Saideep Traders |
|
|
·
|
|
Enterprises over which any person KMP
is able to exercise control : |
·
Amrutsagar Construction Private Limited ·
Brady Investments Private Limited ·
Crescent Oils Private Limited ·
Enersun Power Tech Private Limited ·
International Knowledge Park Private Limited ·
Laxmidevi Nathmal Goenka Charitable Trust ·
Maharashtra Aldehydes and Chemicals Limited ·
Merton Finance and Trading ·
Ojas Dye-Chem (India) Private Limited ·
Pedestal Finance and Trading Private Limited ·
Rajeev Goenka HUF ·
Ravi Goenka HUF ·
Sherry Exports Private Limited ·
Zenith Distibutors ·
Wintech Systems ·
Varadvinayak Multi Impex Private Limited |
|
|
|
|
Associates and joint ventures of the reporting enterprise : |
·
Suvas Holding Limited, India |
CAPITAL STRUCTURE
As on 30.09.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21000000 |
Equity Shares |
Rs.10/- each |
Rs.210.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10005081 |
Equity Shares |
Rs.10/- each |
Rs.100.050
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 |
100.050 |
100.050 |
100.051 |
|
(b) Reserves &
Surplus |
1793.770 |
1683.680 |
1477.126 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.260 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
1894.080 |
1783.730 |
1577.177 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1074.540 |
1228.040 |
875.259 |
|
(b) Deferred tax
liabilities (Net) |
195.560 |
221.100 |
90.619 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.760 |
4.570 |
3.927 |
|
Total Non-current
Liabilities (3) |
1271.860 |
1453.710 |
969.805 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1333.210 |
407.010 |
34.630 |
|
(b) Trade payables |
926.010 |
1143.380 |
780.553 |
|
(c) Other current liabilities |
349.690 |
384.670 |
251.157 |
|
(d) Short-term provisions |
12.460 |
34.160 |
98.721 |
|
Total Current Liabilities
(4) |
2621.370 |
1969.220 |
1165.061 |
|
|
|
|
|
|
TOTAL |
5787.310 |
5206.660 |
3712.043 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2110.210 |
2165.310 |
1031.228 |
|
(ii) Intangible Assets |
14.060 |
17.750 |
7.345 |
|
(iii) Capital
work-in-progress |
75.980 |
49.400 |
422.796 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
19.453 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
301.150 |
254.280 |
22.262 |
|
(e) Other Non-current
assets |
47.560 |
14.670 |
5.243 |
|
Total Non-Current Assets |
2548.960 |
2501.410 |
1508.327 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
400.013 |
|
(b) Inventories |
855.180 |
1046.260 |
498.902 |
|
(c) Trade receivables |
1838.520 |
1179.670 |
719.581 |
|
(d) Cash and cash
equivalents |
134.470 |
89.840 |
120.744 |
|
(e) Short-term loans and
advances |
400.500 |
382.910 |
461.076 |
|
(f) Other current assets |
9.680 |
6.570 |
3.400 |
|
Total Current Assets |
3238.350 |
2705.250 |
2203.716 |
|
|
|
|
|
|
TOTAL |
5787.310 |
5206.660 |
3712.043 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
8583.090 |
6012.330 |
5126.432 |
|
|
Other Income |
11.230 |
18.520 |
15.810 |
|
|
TOTAL |
8594.320 |
6030.850 |
5142.242 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5534.690 |
4071.090 |
3296.002 |
|
|
Purchases of Stock-in-Trade |
995.940 |
483.740 |
123.678 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(81.290) |
(244.900) |
(79.427) |
|
|
Employees benefits
expense |
178.050 |
144.960 |
92.667 |
|
|
Exceptional Items |
0.000 |
(113.670) |
0.000 |
|
|
Other expenses |
1266.360 |
1044.800 |
905.416 |
|
|
TOTAL |
7893.750 |
5386.020 |
4338.336 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
700.570 |
644.830 |
803.906 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
223.870 |
122.820 |
130.630 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
476.700 |
522.010 |
673.276 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
319.730 |
185.470 |
139.037 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
156.970 |
336.540 |
534.239 |
|
|
|
|
|
|
|
Less |
TAX |
42.070 |
118.100 |
171.046 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
114.900 |
218.440 |
363.193 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
11.48 |
21.83 |
58.73 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
268.450 |
244.410 |
176.526 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(157.800) |
(0.330) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.34 |
3.63 |
7.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
8.16 |
10.73 |
15.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.75 |
6.53 |
16.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.19 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.41 |
1.05 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.37 |
1.89 |
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 |
100.051 |
100.050 |
100.050 |
|
Reserves & Surplus |
1477.126 |
1683.680 |
1793.770 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.260 |
|
Net worth |
1577.177 |
1783.730 |
1894.080 |
|
|
|
|
|
|
long-term borrowings |
875.259 |
1228.040 |
1074.540 |
|
Short term borrowings |
34.630 |
407.010 |
1333.210 |
|
Current Maturities of
Long Term Debt |
176.526 |
244.410 |
268.450 |
|
Total borrowings |
1086.415 |
1879.460 |
2676.200 |
|
Debt/Equity ratio |
0.689 |
1.054 |
1.413 |
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 |
5126.432 |
6012.330 |
8583.090 |
|
|
|
17.281 |
42.758 |
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 |
5126.432 |
6012.330 |
8583.090 |
|
Profit |
363.193 |
218.440 |
114.900 |
|
|
7.08% |
3.63% |
1.34% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
Case
Details |
||||||||||
|
Bench:- Bombay |
||||||||||
|
Lodging No.:- |
LPETNL/294/2012 |
Filing Date:- |
02/04/2012 |
Reg. No.:- |
LPETN/294/2012 |
Reg. Date:- |
02/04/2012 |
|||
|
Main Matter |
||||||||||
|
Lodging No.:- |
SSL/881/2012 |
Reg. No.:- |
SS/1027/2012 |
|||||||
|
|
||||||||||
|
Petitioner:- |
NOAHS ARK CHEMICALS GMBH- |
Respondent:- |
LAXMI ORGANIC INDUSTRIES LIMITED |
|||||||
|
Petn. Adv.:- |
RES LEGAL (0) |
|
|
|||||||
|
District:- |
MUMBAI |
|||||||||
|
Bench:- |
SINGLE |
|||||||||
|
Status:- |
Pre-Admission |
Category:- |
LEAVE PETITION UNDER CLAUSE XII |
|||||||
UNSECURED LOAN
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Deferred payment liabilities |
84.890 |
103.810 |
|
SHORT TERM BORROWINGS |
|
|
|
Deposits from shareholders |
59.000 |
0.000 |
|
Deposits from others |
9.100 |
10.500 |
|
Loans and advances from directors |
75.610 |
6.540 |
|
Total |
228.600 |
120.850 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10552930 |
10/02/2015 |
300,000,000.00 |
RBL BANK LIMITED |
SHAHUPURI,KOLHAPUR, KOLHAPUR - 416001, MAHARASHTRA, INDIA |
C45541364 |
|
2 |
10582565 |
19/12/2014 |
2,900,000.00 |
BMW INDIA FINANCIAL SERVICES PRIVATE LIMITED |
TOWER C, 14TH FLOOR, BUILDING NO. 10, DLF CYBER CITY, PHASE-II, GURGAON - 122002, HARYANA, INDIA |
C60082252 |
|
3 |
10529018 |
20/10/2014 |
110,000,000.00 |
ADITYA BIRLA FINANCE LIMITED |
INDIAN RAYON COMPOUND, VERAVAL - 362266, GUJARAT, INDIA |
C32212029 |
|
4 |
10505263 |
23/02/2015 * |
80,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, VADODARA - 390015, GUJARAT, INDIA |
C47433818 |
|
5 |
10505268 |
23/02/2015 * |
190,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, VADODARA - 390015, GUJARAT, INDIA |
C47434147 |
|
6 |
10500537 |
23/02/2015 * |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, VADODARA - 390015, GUJARAT, INDIA |
C47444567 |
|
7 |
10441001 |
12/07/2013 |
542,700,000.00 |
INTERNATIONAL FINANCE CORPORATION |
2121 PENNSYLVANIA AVENUE, N.W., WASHINGTON DC, - 20433, UNITED STATES OF AMERICA |
B81097149 |
|
8 |
10327375 |
31/07/2012 * |
500,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B56028392 |
|
9 |
10285881 |
22/04/2014 * |
500,000,000.00 |
YES BANK LIMITED |
YES BANK LIMITED, SENAPATI BAPAT MARG, ELPHINSTON (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
C02494987 |
|
10 |
10223277 |
09/12/2011 * |
220,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B29210341 |
* Date of charge modification
CORPORATE INFORMATION
Subject is the Goenka Group’s flagship company, established in 1989 and is in the business on specialty chemicals. The Company primarily manufactures Ethyl Acetate, Acetic Acid and Diketene Derivative Products (DDP). DDP is a specialty chemical group, the technology and business of which has been acquired by LOIL from Clariant Chemicals India Limited. LOIL is currently the only manufacturer of DDP in India. Further LOIL has successfully commissioned a captive power plant of 5 MW in Mahad which will cater to the existing electricity requirement of the plants.
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Vehicles
- Office Equipment
- Computer Equipments
- Other Equipments
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 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.66.99 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.73.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
50 |
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.