MIRA INFORM REPORT
|
Report Date : |
03.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHEMTROLS
INDUSTRIES LIMITED
(w.e.f. 29.02.2008) |
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|
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Formerly Known
As : |
CHEMTROLS
ENGINEERING LIMITED |
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Registered
Office : |
910, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.07.1981 |
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Com. Reg. No.: |
11-024757 |
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Capital
Investment / Paid-up Capital : |
Rs.263.794 Millions |
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CIN No.: [Company Identification
No.] |
U29299MH1981PLC024757 |
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TIN No.: |
0388002433 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMC10185A |
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PAN No.: [Permanent Account No.] |
AAACC2870R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacture of engineering goods and components for chemical, textile and other process industries and also includes business as manufacturers, processors, refiners, blenders of bio-fuel, bio-diesel, petrochemicals, agro-chemicals and electricity generation using renewable energy. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. The rating takes into consideration company’s healthy operational risk
profile marked by above average financial base and fair profitability margins
of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BB+ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
14.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
14.02.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-22-22830636)
LOCATIONS
|
Registered Office/ Factory 1 : |
910, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021, |
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Tel. No.: |
91-22-22873573/ 22830636/ 28575089 |
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Fax No.: |
91-22-22873573/ 28574386 |
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E-Mail : |
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Website : |
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Head Office : |
Amar Hill, Saki Vihar Road, Powai, Mumbai - 400072, Maharashtra, India |
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Tel. No. : |
91-22-28575089/ 28570557/ 67151200 |
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Fax No. : |
91-22-28571913/ 67151405 |
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E-Mail : |
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Factory 2 : |
141/142, Kundaim Industrial Estate, Kundaim - 403115, Goa, India |
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Tel. No. : |
91-832-6613100/ 6613101/ 3102/ 2395238/ 2395086 |
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Fax No. : |
91-832-6613155/ 2395208 |
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E-Mail : |
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Branch Offices : |
Located At:
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Overseas Office
: |
Sharjah Airport International, Free Zone (SAIF Zone), PO
Box: 120629, Sharjah, UAE |
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Tel. No. : |
+97-16-557 4528 |
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E-Mail : |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Nandkumar Kalath |
|
Designation : |
Managing Director |
|
Address : |
202, Mangal Darshan, |
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Date of Birth/Age : |
02.11.1948 |
|
Qualification : |
B.Sc., Chem. Engg |
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Date of Appointment : |
01.09.2008 |
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DIN No. : |
00041727 |
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Name : |
Mr. Sambhaji Amrut Rao Nikam |
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Designation : |
Whole-Time Director |
|
Address : |
A-201, |
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Date of Birth/Age : |
15.03.1940 |
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Qualification : |
DME |
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Date of Appointment : |
01.09.2008 |
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DIN No. : |
00041810 |
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Name : |
Mrs. Usha Nandakumar |
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Designation : |
Director |
|
Address : |
202, Mangal Darshan, |
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Date of Birth/Age : |
01.02.1955 |
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Qualification : |
PG. in Philosaphy |
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Date of Appointment : |
09.01.2004 |
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DIN No. : |
00041863 |
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|
|
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Name : |
Mr. Rakesh Kumar Gupta |
|
Designation : |
Director |
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Address : |
104-A, Lila Apartments, |
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Date of Birth/Age : |
04.06.1953 |
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Qualification : |
B.E. (Elect.) |
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Date of Appointment : |
25.09.2009 |
|
DIN No. : |
00050139 |
KEY EXECUTIVES
|
Name : |
Mrs. Lata Varshey |
|
Designation : |
Secretary |
|
Address : |
B-405, Green Acres, Baghbill Naka, Ghodbunder Road, Thane – 400606,
Maharashtra, India |
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Date of Birth/Age : |
15.10.1965 |
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Date of Appointment : |
01.10.2011 |
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PAN No.: |
AADPV3882C |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
K. Nandakumar |
|
5545952 |
|
S. A. Nikam |
|
1369213 |
|
Usha Nandakumar |
|
2320114 |
|
K Rajagopal |
|
561034 |
|
Chemtorls Holding Private Limited, India |
|
42298749 |
|
K. Venugopal |
|
24711 |
|
K. Ramanathan |
|
29447 |
|
Chandrika Venugopal |
|
24711 |
|
Shailaja Viswanthan |
|
29301 |
|
Nalini Rajagopal |
|
38772 |
|
K. Viswanathan |
|
29301 |
|
Smitha Rajagopal |
|
15559 |
|
Sudha Ramanathan |
|
35335 |
|
K. Aravindakshan |
|
7550 |
|
R.R. Nair |
|
2323 |
|
R. Radhakrishnan |
|
300612 |
|
Sreelatha Nair |
|
22651 |
|
Karthika Nandakumar |
|
69193 |
|
Kumari Unnikrishnan |
|
34247 |
|
Total |
|
52758775 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
80.17 |
|
Directors or relatives of Directors |
18.70 |
|
Other top fifty shareholders |
1.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of engineering goods and components for chemical, textile and other process industries and also includes business as manufacturers, processors, refiners, blenders of bio-fuel, bio-diesel, petrochemicals, agro-chemicals and electricity generation using renewable energy. |
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Products : |
· Level Gauges And Spares · Valves And Spares · Level Transmitters And Spares · Pressure Transmitters and Spares · And Spares · Differential Transmitters And Spares · Desuper Heaters And Spares · Pressure Switches And Spares · Level Switch · Flow Indicators · Spray Nozzle System · Temperature Transmitters · Flow Meter And Accessorie |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
· ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S Raghunath and Company Chartered Accountants |
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Address : |
32, Islam Building, 46-48 Veer Nariman Road , Fountain, Mumbai – 400020, Maharashtra, India |
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PAN No.: |
AMXPS5218F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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Subsidiaries : |
CIN No.: U31200MH2001PTC132917
CIN No.: U74900MH1993PTC071583 |
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Fellow Subsidiary : |
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Associate : |
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CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.5/- each |
Rs.300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52758775 |
Equity Shares |
Rs.5/- each |
Rs.263.794 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
263.794 |
251.640 |
239.727 |
|
(b) Reserves & Surplus |
273.716 |
237.752 |
213.798 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
537.510 |
489.392 |
453.525 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.129 |
22.050 |
28.884 |
|
(b) Deferred tax liabilities (Net) |
0.654 |
0.348 |
1.230 |
|
(c) Other long term
liabilities |
263.529 |
66.494 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
265.312 |
88.892 |
30.114 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1,367.904 |
1,175.052 |
1,067.913 |
|
(b) Trade
payables |
886.695 |
730.149 |
662.026 |
|
(c) Other
current liabilities |
224.574 |
166.847 |
259.926 |
|
(d) Short-term
provisions |
16.442 |
15.466 |
15.107 |
|
Total Current
Liabilities (4) |
2,495.615 |
2,087.514 |
2,004.972 |
|
|
|
|
|
|
TOTAL |
3,298.437 |
2,665.798 |
2,488.611 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
236.366 |
192.546 |
179.709 |
|
(ii)
Intangible Assets |
14.361 |
5.526 |
7.920 |
|
(iii)
Capital work-in-progress |
2.581 |
27.860 |
15.895 |
|
(iv)
Intangible assets under development |
24.972 |
9.113 |
4.705 |
|
(b) Non-current Investments |
43.691 |
27.891 |
23.236 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
18.731 |
14.189 |
19.725 |
|
(e) Other
Non-current assets |
0.000 |
58.466 |
69.899 |
|
Total Non-Current
Assets |
340.702 |
335.591 |
321.089 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
563.561 |
416.945 |
595.420 |
|
(c) Trade
receivables |
1,780.554 |
1,538.747 |
1,247.867 |
|
(d) Cash
and cash equivalents |
191.732 |
244.497 |
159.895 |
|
(e)
Short-term loans and advances |
169.740 |
124.502 |
164.340 |
|
(f) Other
current assets |
252.148 |
5.516 |
0.000 |
|
Total
Current Assets |
2,957.735 |
2,330.207 |
2,167.522 |
|
|
|
|
|
|
TOTAL |
3,298.437 |
2,665.798 |
2,488.611 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
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SALES |
|
|
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||
|
|
|
Income |
3,122.539 |
2,980.237 |
2,705.017 |
|
|
|
|
Other Income |
48.731 |
28.016 |
22.830 |
|
|
|
|
TOTAL (A) |
3,171.270 |
3,008.253 |
2,727.847 |
|
|
|
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|
|
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||
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Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1,310.464 |
1,548.801 |
1,804.895 |
|
|
|
|
Purchase of Stock-in-trade |
610.489 |
169.474 |
21.074 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(15.028) |
141.793 |
(108.9760 |
|
|
|
|
Employee Benefits Expenses |
373.880 |
354.072 |
301.276 |
|
|
|
|
Other Expenses |
592.510 |
553.482 |
456.943 |
|
|
|
|
TOTAL (B) |
2,872.315 |
2,767.622 |
2,475.212 |
|
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||
|
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
298.955 |
240.631 |
252.635 |
||
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|
|
|
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||
|
Less |
FINANCIAL
EXPENSES (D) |
190.593 |
157.961 |
176.046 |
||
|
|
|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
108.362 |
82.670 |
76.589 |
||
|
|
|
|
|
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||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
27.918 |
25.100 |
24.655 |
||
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|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
80.444 |
57.570 |
51.934 |
||
|
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|
|
|
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||
|
Less |
TAX (H) |
27.805 |
16.619 |
12.895 |
||
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PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
52.639 |
40.951 |
39.039 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
129.700 |
109.748 |
89.639 |
||
|
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|
|
|
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||
|
|
INCOME-TAX OF
EARLIER YEARS |
0.758 |
1.846 |
0.000 |
||
|
|
|
|
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||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed Dividend |
0.000 |
12.177 |
11.986 |
|
|
|
|
Interim Dividend |
12.798 |
0.000 |
0.000 |
|
|
|
|
Tax on Dividend |
2.175 |
1.976 |
1.944 |
|
|
|
|
Transfer to General Reserve |
5.000 |
5.000 |
5.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
161.608 |
129.700 |
109.748 |
||
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|
|
|
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||
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.06 |
0.84 |
0.81 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.69 |
1.37 |
1.44 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.57 |
8.07 |
9.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.49 |
2.21 |
2.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.12 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.55 |
2.45 |
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.12 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
239.727 |
251.640 |
263.794 |
|
Reserves & Surplus |
213.798 |
237.752 |
273.716 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
453.525 |
489.392 |
537.510 |
|
|
|
|
|
|
Long Term borrowings |
28.884 |
22.050 |
1.129 |
|
Short Term borrowings |
1067.913 |
1175.052 |
1367.904 |
|
Total
borrowings |
1096.797 |
1197.102 |
1369.033 |
|
Debt/Equity
ratio |
2.418 |
2.446 |
2.547 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
2,705.017 |
2,980.237 |
3,122.539 |
|
|
|
10.174 |
4.775 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
2,705.017 |
2,980.237 |
3,122.539 |
|
Profit |
39.039 |
40.951 |
52.639 |
|
|
1.44% |
1.37% |
1.69% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
3.487 |
10.553 |
17.325 |
|
Total |
3.487 |
10.553 |
17.325 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Deposits from directors |
0.000 |
6.119 |
|
Deposits from others |
0.000 |
12.148 |
|
SHORT TERM BORROWINGS |
|
|
|
Deposits from directors |
2.457 |
0.000 |
|
Deposits from others |
12.547 |
0.000 |
|
Total |
15.004 |
18.267 |
CORPORATE INFORMATION
Subject is incorporated in 1981 in state of Maharashtra, India. It operates in the area of manufacture of engineering goods and components for chemical, textile and other process industries. Its objects also includes business as manufacturers, processors, refiners, blenders of bio-fuel, bio-diesel, petrochemicals, agro-chemicals and electricity generation using renewable energy.
PERFORMANCE OVERVIEW:
The Company has successfully weathered the VUCA (Volatility, Uncertainty, Complexity, Ambiguity) storm that thrashed the Indian Economic and Industrial sphere over the last 3 years. In spite of the doom and gloom that swept many industrial sectors where the Company operates, the Company has attained a gross sales turn-over of Rs.3280.670 Millions compared to Rs.3232.328 Millions in the previous year. The profit after tax is Rs. 52.639 Millions as against Rs.40.951 Millions in the previous year.
The Company’s much diversified portfolio from product sales to projects to turn-key Contracts, has helped the Company to sustain the abnormally long period of industrial and economic stagnation and attain reasonably good growth. Turn-key Contracts of national importance; Energy Dispatch & Distribution Management as well as Petroleum Terminal Automation constituted half of the order backlog at the close of the fiscal year.
The pending order book position as on 1st September, 2014 stood at over Rs.6000.000 Millions indicating very strong and healthy growth in the current year for the company’s regular businesses.
The Company retained its International Certificate of Quality for Specific Product lines / Systems; more specifically ASME U, R, N Stamps and PED, CE markings. The Company is also approved as a qualified Vendor for its main businesses by PDO (Petroleum Development Oman) which will open up huge potential for the Company’s products and systems in the Refineries and Petro Chemical projects in Oman.
The wholly owned subsidiary of the Company, under the name and style Chemtrols Middle East FZE is getting incorporated in the Jebel Ali Free Zone and is in the process of establishing a finishing facility in the Jebel Ali Free Zone. The Company has already secured export orders worth USD 7.00 Million for Analytical Systems to be executed through this Middle East Subsidiary, within October, 2014.
In the last Annual Report, the Directors had informed you of the restructuring of Operations of the Company into 5 Strategic Business Units.
The Directors are happy to inform you the BUs are now operationally stabilized and in the coming years the Company will realize quantum jump both in top line and bottom line growth.
The Company, this year also has executed many challenging and complex jobs as well as secured many jobs for execution.
BU1:
Have supplied Analyser Systems for GAILs Pata Petrochemical Complex consisting of Cracker, LDPE and HDPE units through Engineers India Limited.
Have supplied Analyser Systems for Reliance Industries Hazira SBR / PBR Project and for ONGC?s Petro Additions Limited PP Project.
Have executed HSD Blending systems to Hindustan Petrochemicals Limited, Mumbai and to Essar Jamnagar Refineries.
BU2 :
Commissioned the Automation job at Bihta Terminal of Hindustan Petroleum Corporation, meeting the M.B. LAL Committee, constituted by the Government of India requirement comprising SIL2 complete hardwares during this year.
Commissioned, during the year, Level 3 (Integrated Automation of Truck Loading, Tank Farm, Motor operated Valves, and Pumps) automation encompassing CCTV, Fire Alarm, Access Control, Gas Detection and meeting M.B. LAL Committee requirements at JASIDHI Terminal of Indian Oil Corporation Limited.
BU3 :
Supplied Custody Transfer Natural Gas Flow Metering System for GAIL at Rajamundry.
Executed orders for Level Instruments for Mumbai Off-shore installations at ONGC and at British Gas Platforms.
BU4 :
Executed many repeat export orders for Steam Pressure Reducing, De-superhaters through strategic partners in Japan, South Africa, Middle East.
Executed orders for Turbine By-pass and Auxiliary PRDS for captive Power Plants in India.
BU5 :
During the year, commissioned a Back-up Energy Management System for Tata Power Company, which is utilized for monitoring their Power Network in Mumbai with enhanced Safety & Security.
Commissioned a State Load Despatch Centre for the State of Orissa. The System was supplied through Power Grid Corporation and is meant to monitor and control 220 / 400 KV Power Network in the State of Orissa.
Under R-APDRP Projects funded by Power Finance Corporation, Government of India delivered a Power Distribution Management System to Assam Power Distribution Corporation Ltd., Guwahati. The System will be used for strengthening 11 KV Power distribution network with the aim of reducing losses to less than 15%.
OUTLOOK:-
Their Prime Minister, during his Independent Day address to the Nation outlined new Governments resolve to enhance Indias image in World Economic Order and their Countrys competitiveness in the Global Commercial transactions, through:
Make in India
Zero defect, zero effect (on environment) and Digital India among other far fetching sustainability initiatives. The Company has, from it?s inception, focused on ?Make in India? philosophy, in association with its Global partners:
Ametek, USA
AMS, Germany
FMC Technologies, USA,
Foxboro Eckardt, Germany
General Monitors, UK,
Guided Wave, USA
Heinrichs, Germany
Met One Instruments, USA
Sick AG, Germany
Siemens, Germany
Sensitron, Itay
Thermo Fisher Scientific, USA
Teledyne API, USA
UOP, USA
Today Chemtrols Made in India? is a Globally recognized brand in Chemical and Hydrocarbon Processing Industries. Further the Company products and System, help Indian Chemical and Hydrocarbon Processing Industries enable Zero defect, zero effect product deliveries not only for India, but for other parts of the world.
The Directors are confident, in the light of, the great thrust Government is putting to get manufacturing a respectable share of 25% of the GDP by the year 2022, the own Company’s initiatives in Overseas, coupled with human resources development programmes in Management, Leadership and Skilling as well as Continuous innovation in cost management and products offerings, the Company will achieve 15% year on year growth from now on.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80048918 |
05/07/2012 * |
340,000,000.00 |
HDFC Bank Limited |
HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B44480044 |
|
2 |
90154728 |
31/03/2004 |
10,000,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
3 |
90154341 |
13/03/2003 |
13,138,278.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
4 |
90154691 |
26/11/2002 |
7,500,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
5 |
90154309 |
12/06/2001 |
15,000,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
6 |
90154306 |
01/03/2001 |
5,000,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
7 |
90153709 |
11/09/2014 * |
3,850,000,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
C23377187 |
|
8 |
90154621 |
22/03/2000 |
191,100,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
9 |
90154579 |
04/08/1998 |
5,000,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
10 |
90154550 |
15/12/1997 * |
20,000,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
11 |
90153371 |
13/01/1999 * |
72,500,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
12 |
90154548 |
31/03/1997 |
201,000.00 |
Mashreq Bank |
512; Tulsini Chambers, Ground Floor ; Nariman PoiNt, Bombay, Maharashtra - 400021, India |
- |
|
13 |
90153364 |
31/03/1997 |
591,000.00 |
Mashreq Bank |
512; Tulsini Chambers, Ground Floor ; Nariman PoiNt, Bombay, Maharashtra - 400021, India |
- |
|
14 |
90153286 |
08/06/1996 |
36,000,000.00 |
Central Bank Of India |
Chander Mukhi Building, Ground Floor ; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
15 |
90152435 |
11/02/2013 * |
3,510,100,000.00 |
Central Bank Of India (Jointly With HDFC Bank Limited) |
CFB Nariman Pont Branch,Chander Mukhi,Ground Floor, Nariman Point, Mumbai, Maharashtra - 400021, India |
B69328391 |
|
16 |
90154428 |
21/01/1995 * |
3,700,000.00 |
Central Bank Of India |
Nariman Point Branch;Chander Mukhi, Ground Floor; Nariman Point, Bombay, Maharashtra - 400021, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.29 |
|
|
1 |
Rs.98.37 |
|
Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
42 |
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.