MIRA INFORM REPORT
|
Report No. : |
332925 |
|
Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUBERGROUP INDIA PRIVATE LIMITED (w.e.f. 29.05.2015) |
|
|
|
|
Formerly Known
As : |
MICRO INKS
PRIVATE LIMITED (w.e.f. 04.09.2014) MICRO INKS
LIMITED (w.e.f.03.03.2004) |
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|
Registered
Office : |
Bilakhia House,
Muktanand Marg, Chala, Vapi – 396191, Gujarat |
|
Tel. No.: |
91-260-3052100 |
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Country : |
India |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
13.11.1991 |
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Com. Reg. No.: |
04-016598 |
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Capital
Investment / Paid-up Capital : |
Rs. 248.730 Million |
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CIN No.: [Company Identification
No.] |
U24220GJ1991PTC016598 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTM01621E |
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PAN No.: [Permanent Account No.] |
AAACH7063F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in the manufacturing of various types of Printing Inks, Resins, Adhesives, Pigments, Flush Colours, Wire Enamels, Retarders and their intermediates. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limits : |
USD 32000000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of MHM Holding GmbH, Germany. It is a
well-established company having fine track record. The rating reflects company’s leadership position in the domestic printing
ink market marked by strong financial risk profile, comfortable capital
structure and adequate liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 |
Commercial Paper Programme = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
April 29, 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) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED
Management non co-operative (Tel. No.: 91-26-3032100)
LOCATIONS
|
Registered Office : |
Bilakhia House,
Muktanand Marg, Chala, Vapi – 396191, Gujarat, India |
|
Tel. No.: |
91-260-3052100 |
|
Fax No.: |
91-260-3052125 |
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E-Mail : |
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Website : |
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Marketing Headquarters/ Sales
and Support - International Business
Division : |
907, Windfall Sahar Plaza, J B Nagar, Andheri (East), Mumbai - 400059,
Maharashtra, India |
|
Tel No.: |
91-22-28360201/ 28364313 |
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Fax No : |
91-22-28379660/ 28222222 |
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E-mail : |
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Factory : |
Located at:
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Branch Offices : |
Located At:
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Western Region 1: |
302, Shapath II, Opposite Rajpath Club, Sarkhej Gandhinagar Highway,
Ahmedabad -380015, Gujarat, India |
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Tel No.: |
91-79-26871541-43 |
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Fax No : |
91-79-26871544 |
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Western Region 2 : |
Located at:
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Northern region : |
Located at:
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Southern Region : |
Located at:
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Eastern Region : |
9 Transport Depot Road, Kolkata-700088, West Bengal, India |
|
Tel No.: |
91-33-24496134 / 36 |
|
Fax No : |
91-33-24495051 |
DIRECTORS
AS ON 06.05.2014
|
Name : |
Mr. Heinrich W. Ringer |
|
Designation : |
Director |
|
Address : |
The Village, Near Collectorate, Damanwada, Moli Daman - 396220 U.T.,
India |
|
Date of Birth/Age : |
12.12.1944 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.05.2010 |
|
DIN No.: |
01540491 |
|
|
|
|
Name : |
Ashwani Kumar Vishwanath Bhardwaj |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 1001, Emerald Royal Gems, Vapi Daman Road, Vapi, Valsad -
396191, Gujarat, India |
|
Date of Birth/Age : |
18.03.1958 |
|
Qualification : |
B.Sc. MBA |
|
Date of Appointment : |
31.01.2012 |
|
PAN No.: |
AFBPB0925K |
|
DIN No.: |
01515689 |
|
|
|
|
Name : |
Ursula Borgmann |
|
Designation : |
Director Appointed In Casual Vacancy |
|
Address : |
Microink Company, Bilakhia House, Chala, Vapi – 396191, Gujarat, India |
|
Date of Appointment : |
30.07.2014 |
|
PAN No.: |
06930369 |
|
|
|
|
Name : |
Michael Geiger |
|
Designation : |
Director |
|
Address : |
Kreuzweg 35 B,, Stockdorf, 82131, Germany |
|
Date of Appointment : |
03.02.2006 |
|
PAN No.: |
01541193 |
KEY EXECUTIVES
|
Name : |
Alpesh Mansukhlal Chaniyara |
|
Designation : |
Secretary |
|
Address : |
Block No.2, Shree Chala Co-operative Housing Society, Vapi - Daman
Road, Chala, Valsad, Vapi - 396191, Gujarat, India |
|
Date of Birth/Age : |
13.06.1977 |
|
Date of Appointment : |
01.06.2011 |
|
PAN No.: |
AEHPC5783R |
|
|
|
|
Name : |
Sandeep Narendraraj Bhandari |
|
Designation : |
Vice President and Chief Financial Officer |
|
Address : |
701 Safhire, Royal Gems,, Vapi Daman Road, Chala, Vapi - 396191, Gujarat, India |
|
Date of Appointment : |
06.05.2014 |
|
PAN No.: |
AAUPB7223N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.05.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 06.05.2014
|
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 |
99.26 |
|
Bodies corporate |
0.45 |
|
Directors or relatives of Directors |
0.01 |
|
Other top fifty shareholders |
0.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the manufacturing of various types of Printing Inks, Resins, Adhesives, Pigments, Flush Colours, Wire Enamels, Retarders and their intermediates. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
NOTE : Long-term
borrowings ECB Loan of Rs. 504.320 Million (USD 8.00 Million) [As at 31/12/2013, Rs. 618.10 Million (USD 10.00 Million)] from The Bank of Nova Scotia Asia Limited, Singapore is secured by way of first pari-passu charge on immovable and movable properties (save and except stocks and book debts), both present and future, of the Company. This Loan is repayable in remaining 4 equal semi-annual instalments by August, 2016 and carries interest @ 3 months USD LIBOR plus 200 bps p.a. [Upto 05/08/2014, interest @ 3 months USD LIBOR plus 250 bps p.a.] B. ECB Loan Nil [As at 31/12/2013, Rs. 411.65 Million (USD 6.67 Million)] from The Australia and New Zealand Banking Group Limited, Singapore was secured by way of first pari-passu charge on immovable and movable properties (save and except stocks and book debts), both present and future, of the Company. This Loan carried interest @ 3 months USD LIBOR plus 130 bps p.a. Short-term
borrowings Packing Credit from The Hong Kong and Shanghai Banking Corporation Limited, Hong Kong, The Bank of Nova Scotia, Mumbai & The Standard Chartered Bank, Mumbai are secured by way of first pari-passu charge on all the stocks and book debts, both present and future, of the Company and are further secured by way of second pari-passu charge on the immovable and moveable properties (save and except stocks and book debts), both present and future, of the Company. B. Working Capital Loans from The State Bank of India, Mumbai, ICICI Bank Limited, Mumbai and The Standard Chartered Bank, Mumbai are secured by way of first pari-passu charge on all the stocks and book debts, both present and future, of the Company and are further secured by way of second pari-passu charge on the immovable and moveable properties (save and except stocks and book debts), both present and future, of the Company. Working Capital Loans from The State Bank of India, Mumbai, ICICI Bank Limited, Mumbai, and The Standard Chartered Bank, Mumbai are secured by way of first pari-passu charge on all the stocks and book debts, both present and future, of the Company and are further secured by way of second pari-passu charge on the immovable and moveable properties (save and except stocks and book debts), both present and future, of the Company. |
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
12, |
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PAN No.: |
AACFD4815A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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Associates |
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Subsidiary Companies : |
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Fellow Subsidiaries: |
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CAPITAL STRUCTURE
AS ON 06.05.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000 |
Equity Shares |
Rs.10000/- each |
Rs. 300.000 Million |
|
5,500,000 |
Preference Shares |
Rs. 100/- each |
Rs. 550.000 Million |
|
|
Total |
|
Rs. 850.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,873 |
Equity Shares |
Rs.10000/- each |
Rs. 248.730
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
248.730 |
248.730 |
248.730 |
|
(b) Reserves & Surplus |
10864.764 |
10173.220 |
8855.047 |
|
(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) |
11113.494 |
10421.950 |
9103.777 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
252.161 |
494.480 |
916.300 |
|
(b) Deferred tax liabilities (Net) |
348.997 |
375.066 |
364.308 |
|
(c) Other long term
liabilities |
277.538 |
270.040 |
224.848 |
|
(d) long-term
provisions |
51.507 |
34.759 |
115.474 |
|
Total Non-current
Liabilities (3) |
930.203 |
1174.345 |
1620.930 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1408.499 |
2298.068 |
1030.544 |
|
(b) Trade
payables |
2440.927 |
2755.729 |
2950.859 |
|
(c) Other
current liabilities |
414.319 |
734.077 |
692.127 |
|
(d) Short-term
provisions |
980.575 |
434.353 |
293.318 |
|
Total Current
Liabilities (4) |
5244.320 |
6222.227 |
4966.848 |
|
|
|
|
|
|
TOTAL |
17288.017 |
17818.522 |
15691.555 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3694.240 |
3778.876 |
4038.980 |
|
(ii)
Intangible Assets |
14.379 |
20.031 |
14.966 |
|
(iii)
Capital work-in-progress |
10.928 |
127.877 |
50.994 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2037.780 |
2037.780 |
2037.780 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
622.784 |
652.605 |
407.230 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
6380.111 |
6617.169 |
6549.950 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3230.936 |
3490.883 |
2643.124 |
|
(c) Trade
receivables |
7156.416 |
6865.761 |
5858.133 |
|
(d) Cash
and cash equivalents |
25.543 |
29.771 |
77.936 |
|
(e)
Short-term loans and advances |
401.665 |
579.161 |
428.788 |
|
(f) Other
current assets |
93.346 |
235.777 |
133.624 |
|
Total
Current Assets |
10907.906 |
11201.353 |
9141.605 |
|
|
|
|
|
|
TOTAL |
17288.017 |
17818.522 |
15691.555 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
25255.160 |
24324.794 |
21519.622 |
|
|
|
Other Income |
NA |
30.717 |
35.656 |
|
|
|
TOTAL |
NA |
24355.511 |
21555.278 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
NA |
17537.048 |
15346.472 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
NA |
(304.207) |
(120.995) |
|
|
|
Employees benefits expense |
NA |
634.207 |
592.320 |
|
|
|
Other expenses |
NA |
3515.949 |
3249.099 |
|
|
|
TOTAL |
NA |
21382.997 |
19066.896 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2882.320 |
2972.514 |
2488.382 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
175.540 |
244.235 |
234.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2706.780 |
2728.279 |
2254.321 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
412.290 |
414.601 |
371.715 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2294.490 |
2313.678 |
1882.606 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
709.030 |
819.758 |
622.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1585.460 |
1493.920 |
1260.228 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5910.030 |
4741.860 |
3804.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
160.000 |
150.000 |
150.000 |
|
|
|
Proposed Final Dividend |
621.830 |
149.240 |
149.240 |
|
|
|
Interim Dividend |
124.370 |
0.000 |
0.000 |
|
|
|
Tax on Interim Dividend |
21.130 |
0.000 |
0.000 |
|
|
|
Tax on Proposed Final Dividend |
126.590 |
26.510 |
23.630 |
|
|
BALANCE CARRIED
TO THE B/S |
6441.568 |
5910.030 |
4741.858 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
13564.904 |
11026.223 |
|
|
|
Commission Earnings |
NA |
2.795 |
0.312 |
|
|
TOTAL EARNINGS |
NA |
13567.699 |
11026.535 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
9228.498 |
7043.254 |
|
|
|
Stores & Spares |
NA |
15.452 |
23.877 |
|
|
|
Capital Goods |
NA |
3.295 |
72.871 |
|
|
TOTAL IMPORTS |
NA |
9247.245 |
7140.002 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
63742.21 |
60061.91 |
50666.51 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
252.160 |
535.275 |
550.183 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
2810.259 |
672.479 |
2625.659 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.28 |
6.14 |
5.86 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.41 |
12.22 |
11.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.06 |
14.78 |
13.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.22 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17 |
0.32 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08 |
1.80 |
1.84 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
248.730 |
248.730 |
248.730 |
|
Reserves & Surplus |
8855.047 |
10173.220 |
10864.764 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
9103.777 |
10421.950 |
11113.494 |
|
|
|
|
|
|
long-term borrowings |
916.300 |
494.480 |
252.161 |
|
Short term borrowings |
1030.544 |
2298.068 |
1408.499 |
|
Current Maturities of Long
Term Debt |
550.183 |
535.275 |
252.160 |
|
Total borrowings |
2497.027 |
3327.823 |
1912.820 |
|
Debt/Equity ratio |
0.274 |
0.319 |
0.172 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
21519.622 |
24324.794 |
25255.160 |
|
|
|
13.035 |
3.825 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
21519.622 |
24324.794 |
25255.160 |
|
Profit |
1260.228 |
1493.920 |
1585.460 |
|
|
5.86% |
6.14% |
6.28% |
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 |
Yes |
|
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 |
---- |
|
33 |
Market information |
---- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.12.2014 (Rs.
in Million) |
31.12.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
996.032 |
0.000 |
|
Foreign currency term loans from banks |
0.000 |
958.055 |
|
Total |
996.032 |
958.055 |
CORPORATE INFORMATION
Pursuant to the resolution passed by the members in the Extra Ordinary General Meeting held on July 30, 2014 and the approval granted by the Registrar of Companies, Micro Inks Limited has been converted into a private limited company with effect from September 4, 2014 and consequently the name has been changed from Micro Inks Limited to micro Inks Private Limited.
The company is engaged in the manufacturing of various types of Printing Inks, Resins, Adhesives, Pigments, Flush Colours, Wire Enamels, Retarders and their intermediates. It is a part of the Germany based hubergroup.
OUTLOOK
The global economy expanded at a moderate and an uneven pace during the year 2014 and is still struggling to gain momentum. Amongst the developed countries, USA gathered momentum mainly due to accommodative monetary policies and low interest rates. Eurozone witnessed problems as the legacies of financial crisis still linger. China too has slowed down mainly due to slack global demand. The slow growth in Eurozone is having its telling impact on the overall demand, which has led to softening of commodity prices. The fall in oil prices has positive impact on economies like India and China that happen to be big importers of oil. However, it has an adverse impact on the oil exporting countries.
Everything points to a steady economic recovery in 2015 though the pace continues to remain slow. In short, FY 2014 remained more or less stable in terms of demand and commodity prices, except oil. Indian currency too remained stable compared to the US dollar. Simply put, it was a static year, even though your company reported a topline growth and achieved higher profitability mainly due to cost savings derived from internal efficiencies.
SUBSIDIARY COMPANIES
The Company has four foreign subsidiaries viz. hubergroup USA, Inc., Hostmann-Steinberg Australia Pty. Limited, Hostmann-Steinberg New Zealand Limited and PT Huber Inks, Indonesia.
Pursuant to a general exemption granted by the Ministry of Corporate Affairs under Section 212 of the Companies Act, 1956, the Company is not required to annex to this Report, the Annual Reports of the above mentioned subsidiaries for the financial year ended December 31, 2014. However, if any Member of the Company desires to obtain the Annual Reports of its subsidiaries, the Company will make the same available, upon request. These Annual Reports of subsidiaries will also be available for inspection at the Registered Office of the Company during working hours up to the date of Annual General Meeting.
The details of each subsidiary with respect to capital, reserves, total assets, total liabilities, details of investment (except in case of investment in subsidiaries), turnover, profit before taxation, provision for taxation, profit after taxation and proposed dividend is included as part of this Annual Report.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10402321 |
03/04/2013 * |
550,000,000.00 |
THE BANK OF NOVA SCOTIA ASIA LIMITED |
ONE RAFFLES QUAY, #20-01 NORTH TOWER, SINGAPORE, |
B73979544 |
|
2 |
10397775 |
03/04/2013 * |
500,000,000.00 |
THE BANK OF NOVA SCOTIA |
MITTAL TOWER, "B" WING,, NARIMAN POINT, MUMBAI,
M |
B74023763 |
|
3 |
10319236 |
03/04/2013 * |
450,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOOR, BIRLA ROAD,, 25 BARAKHAMBA RO |
B74024357 |
|
4 |
10106131 |
03/04/2013 * |
1,000,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
52/60, M. G. ROAD,, FORT, MUMBAI, MAHARASHTRA - 4 |
B73979023 |
|
5 |
80012233 |
03/04/2013 * |
2,150,000,000.00 |
STATE BANK OF INDIA |
3RD FLOOR, STATE BANK BHAVAN,, MADAM KAMA ROAD, N |
B73241507 |
|
6 |
80012217 |
03/04/2013 * |
1,750,000,000.00 |
ICICI BANK LIMITED |
LANDMARK, RACE COURSE CIRCLE,, ALKAPURI,, BARODA, |
B73084725 |
|
7 |
80012219 |
04/06/2011 * |
1,800,000,000.00 |
STANDARD CHARTERED BANK |
90, M. G. ROAD,, FORT, MUMBAI, MAHARASHTRA - 4000 |
B15306137 |
|
8 |
90103243 |
19/05/2011 * |
350,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
B13361019 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- Other
Equipments
- Computer
Equipments
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 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. 63.49 |
|
UK Pound |
1 |
Rs. 99.41 |
|
Euro |
1 |
Rs. 69.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.