MIRA
INFORM REPORT
|
Report No. : |
334072 |
|
Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MULTI ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
503 Keshavabandra Kurla Complex, Bandra (East), Mumbai-400051, |
|
Tel. No.: |
91-22-42354070/ 42354000/ 26590172 |
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|
|
Country : |
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|
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Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.06.1976 |
|
|
|
|
Com. Reg. No.: |
11-019067 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1976PTC019067 |
|
|
|
|
IEC No.: |
0388166487 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20905D |
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|
|
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PAN No.: [Permanent Account No.] |
AAACM4507D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer and Supplier of Advance Intermediates and Fine Chemicals
to the Global Pharmaceutical, Agro Chemical and Colorant Industry. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1519000 |
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|
|
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Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 9th June 1976, it is
established company having satisfactory track record. The general financial position of the company seems to sound and
healthy. The fundamentals of the company are healthy. Rating take
consideration on long- established track record of the company and experience
of the promoter. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of sound financial and operational backed by its experienced
promoters, 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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
LOCATIONS
|
Registered Office : |
503 Keshavabandra Kurla Complex, Bandra (East), Mumbai-400051,
Maharashtra, India |
|
Tel. No.: |
91-22-42354070/ 42354000/ 26590172 |
|
Fax No.: |
91-22-42354099/ 66954585 |
|
E-Mail : |
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|
Website : |
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Factory: |
A1, M.I.D.C. Industrial Area, Ghughus Road, Chandrapur-441404, Maharashtra,
India |
|
Tel. No.: |
91-7172-287618/ 287619 |
|
Fax No.: |
91-7172-287617 |
DIRECTORS
AS ON 23.12.2014
|
Name : |
Mr. Baburao Vishwanath Birewar |
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Designation : |
Director |
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Address : |
103, Tower 'B', Kalpataru Residency, Near Sion, Circle,
Sion(East), Mumbai-400022, Maharashtra, India |
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Date of Birth/Age : |
28.11.1934 |
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Date of Appointment : |
09.06.1976 |
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DIN No.: |
00023335 |
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Other Directorship :
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Name : |
Mr. Deepak Baburao Birewar |
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Designation : |
Whole-Time Director |
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|
Address : |
93-B, Kalpataru Residency, Kamani Marg, Near, Sion Circle,
Sion (East), Mumbai-400022, Maharashtra, India |
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Date of Birth/Age : |
29.10.1962 |
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Date of Appointment : |
01.02.2008 |
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DIN No.: |
00023388 |
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Other Directorship :
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Name : |
Mr. Ajit Manohar Naik |
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Designation : |
Additional Director |
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|
Address : |
B-63, Kalpataru Residency, Kamani Marg, Near, Sion Circle,
Sion (East), Mumbai-400022, Maharashtra, India |
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Date of Birth/Age : |
09.06.1960 |
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Date of Appointment : |
23.12.2014 |
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DIN No.: |
00023423 |
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Other Directorship :
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|
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Name : |
Mr. Abhijeet Baburao Birewar |
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|
Designation : |
Managing director |
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|
Address : |
113-B- Kalpataru Residency, Kamani Marg, Near Sion Circle,
Sion (East) Mumbai-400022, Maharashtra, India |
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Date of Birth/Age : |
03.12.1969 |
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Date of Appointment : |
01.08.2011 |
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DIN No.: |
00029984 |
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Other Directorship :
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Name : |
Mr. Alka Baburao Birewar |
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Designation : |
Director |
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|
Address : |
103 Tower B, Kalpataru Residen, Sion Koliwada Road, Sion
(East) Mumbai 400022, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
01.04.1941 |
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Date of Appointment : |
09.06.1976 |
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DIN No.: |
00030090 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Baburao Vishawanath Birewar |
|
101720 |
|
Baburao Vishawanath Birewar/ Alka Baburao Birewar |
|
429840 |
|
Baburao Vishawanath Birewar/ Deepak Baburao Birewar |
|
1500 |
|
Alka Baburao Birewar |
|
58420 |
|
Alka Baburao Birewar / Baburao Vishawanath Birewar |
|
55200 |
|
Alka Birewar / Abhijeet B Birewar |
|
1500 |
|
Baburao Vishawanath Birewar (HUF) |
|
37120 |
|
Abhijeet Baburao Birewar |
|
29475 |
|
Deepak Baburao Birewar |
|
24255 |
|
Rasika Abhijeet Birewar |
|
375 |
|
Neeta Ajit Naik |
|
6375 |
|
Ajit M Naik |
|
3500 |
|
Abhideep Chemicals Private Limited |
|
58160 |
|
Prakash Vithal Rao Kondawar |
|
400 |
|
Anuprita Prakash Kondawar |
|
2400 |
|
Shyam Gangadhar Pampattiwar |
|
16000 |
|
Ashatai Gangadhar Pampattiwar |
|
26880 |
|
Vasudha Sharadrao Utturwar |
|
3600 |
|
Mangala Vasantroa Mukewar |
|
8480 |
|
Nalini Dattatray Gangshettiwar |
|
8400 |
|
Trimbakrao Devidas Kunnawar / Ashatai Trimbakrao Kunnawar. |
|
22400 |
|
Vasudha Dattatraya Kancharlawar |
|
2000 |
|
Dattatraya
Janardhan Kancharlawar |
|
2000 |
|
Total |
|
900000 |
AS ON 23.12.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
6.46 |
|
Directors
or relatives of directors |
93.54 |
|
Total |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Advance Intermediates and Fine Chemicals
to the Global Pharmaceutical, Agro Chemical and Colorant Industry. |
|
|
|
|
Products : |
-- |
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|
|
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Brand Names : |
-- |
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Agencies Held : |
-- |
|
|
|
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Exports : |
Not Divulged |
|
|
|
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Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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|
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Bankers : |
·
Bank of Maharahtra Kalanagar,
Bandra (East), Mumbai - 400051, Maharashtra, India |
||||||||||||||||||||||
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|
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|
Facilities : |
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Kanu Doshi Associates Chartered Accountants |
|
Address : |
203, Summit Level 2, F Wing, Samarth Nagar, Hanuman Road, Vileparle
(East), Mumbai-400057, Maharashtra, India |
|
Tel. No.: |
91-22-26150100 |
|
Fax No.: |
91-22-26150113 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFK1583C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises in which KMPs or their relatives
having significant influence: |
· Abhideep Chemicals Private Limited, India Inventys Research Company Private Limited, India Inventys Advance Machines Private Limited Extraxa pharma Private Limited Diversified Equity (India) Private Limited Sehat India Healthcare Services Private Limited MCL Global Software Ail Private Limited Econets Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2480000 |
Equity Shares |
Rs. 10/- each |
Rs. 24.800 Million |
|
2000 |
Preference Shares |
Rs. 100/- each |
Rs. 0.200 Million |
|
|
Total |
|
Rs. 25.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.000
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 |
9.000 |
9.000 |
9.000 |
|
(b) Reserves & Surplus |
522.796 |
433.484 |
360.533 |
|
(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) |
531.796 |
442.484 |
369.533 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
17.931 |
26.646 |
37.926 |
|
(b) Deferred tax liabilities (Net) |
22.562 |
17.103 |
13.765 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
11.860 |
11.499 |
11.606 |
|
Total Non-current
Liabilities (3) |
52.353 |
55.248 |
63.297 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
25.153 |
11.039 |
15.578 |
|
(b)
Trade payables |
160.489 |
150.689 |
176.676 |
|
(c)
Other current liabilities |
37.253 |
13.959 |
13.703 |
|
(d) Short-term
provisions |
30.052 |
14.137 |
3.486 |
|
Total Current
Liabilities (4) |
252.947 |
189.824 |
209.443 |
|
|
|
|
|
|
TOTAL |
837.096 |
687.556 |
642.273 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
145.899 |
149.384 |
138.413 |
|
(ii)
Intangible Assets |
0.126 |
0.074 |
0.018 |
|
(iii)
Capital work-in-progress |
1.593 |
0.000 |
12.082 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
253.867 |
160.656 |
113.727 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.322 |
12.357 |
13.297 |
|
(e) Other
Non-current assets |
1.530 |
1.540 |
0.044 |
|
Total Non-Current
Assets |
417.337 |
324.011 |
277.581 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
7.500 |
0.000 |
0.000 |
|
(b)
Inventories |
120.275 |
93.677 |
136.429 |
|
(c)
Trade receivables |
174.634 |
190.476 |
147.984 |
|
(d) Cash
and cash equivalents |
62.064 |
7.104 |
3.065 |
|
(e)
Short-term loans and advances |
50.815 |
64.853 |
66.178 |
|
(f)
Other current assets |
4.471 |
7.435 |
11.036 |
|
Total
Current Assets |
419.759 |
363.545 |
364.692 |
|
|
|
|
|
|
TOTAL |
837.096 |
687.556 |
642.273 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1370.298 |
1021.932 |
791.847 |
|
|
|
Other Income |
14.884 |
7.235 |
10.283 |
|
|
|
TOTAL (A) |
1385.182 |
1029.167 |
802.130 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
(Increase) /
Decrease in Inventories |
(42.680) |
21.318 |
4.964 |
|
|
|
Cost of
Materials consumed |
858.604 |
649.463 |
501.298 |
|
|
|
Cost of Traded Goods |
0.000 |
0.998 |
3.228 |
|
|
|
Employee
benefits expense |
119.731 |
61.602 |
46.343 |
|
|
|
Manufacturing
and Other Expenses |
286.389 |
233.716 |
222.607 |
|
|
|
Exceptional
items |
0.000 |
(53.715) |
0.000 |
|
|
|
TOTAL (B) |
1222.044 |
913.382 |
778.440 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
163.138 |
115.785 |
23.690 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.312 |
1.943 |
1.470 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
160.826 |
113.842 |
22.220 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.990 |
17.204 |
19.401 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
140.836 |
96.638 |
2.819 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
49.723 |
21.595 |
(2.952) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
91.113 |
75.043 |
5.771 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
F. O.B. Value of Exports |
309.536 |
184.976 |
NA |
|
|
TOTAL EARNINGS |
309.536 |
184.976 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
344.759 |
326.842 |
NA |
|
|
TOTAL IMPORTS |
344.759 |
326.842 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
101.24 |
83.38 |
6.41 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
Cash Generated from Operations |
193.766 |
37.687 |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operating Activities |
163.526 |
19.898 |
(12.476) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.65 |
7.34 |
0.73 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.91 |
11.33 |
2.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.21 |
18.34 |
0.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.22 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.08 |
0.09 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66 |
1.92 |
1.74 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
9.000 |
9.000 |
9.000 |
|
Reserves & Surplus |
360.533 |
433.484 |
522.796 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
369.533 |
442.484 |
531.796 |
|
|
|
|
|
|
Long-term borrowings |
37.926 |
26.646 |
17.931 |
|
Short term borrowings |
15.578 |
11.039 |
25.153 |
|
Total
borrowings |
53.504 |
37.685 |
43.084 |
|
Debt/Equity
ratio |
0.145 |
0.085 |
0.081 |
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 |
791.847 |
1021.932 |
1370.298 |
|
|
|
29.057 |
34.089 |
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 |
791.847 |
1021.932 |
1370.298 |
|
Profit |
5.771 |
75.043 |
91.113 |
|
|
0.73% |
7.34% |
6.65% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90152802 |
10/01/1992 |
2,500,000.00 |
BANK OF MAHARASHTRA |
CHANDRAPUR, CHANDRAPUR, MAHARASHTRA, INDIA |
- |
|
2 |
90154141 |
13/01/1998 * |
2,500,000.00 |
BANK OF MAHARASHTRA |
BANDRA, MUMBAI-400051, MAHARASHTRA, INDIA |
- |
|
3 |
90152725 |
27/09/2012 * |
100,000,000.00 |
BANK OF MAHARAHTRA |
KALANAGAR, BANDRA EAST, MUMBAI-400051, MAHARASHTRA, INDIA |
B61750428 |
|
4 |
90152724 |
16/08/1989 * |
3,500,000.00 |
BANK OF MAHARASHTRA |
KALANAGAR BRANCH, BANDRA, BOMBAY-400051, MAHARASHTRA, INDIA |
- |
|
5 |
90152656 |
17/11/2005 * |
300,000.00 |
BANK OF MAHARASTHA |
KALA NAGAR BANDRA EAST, MUMBAI-400051, MAHARASHTRA, INDIA |
- |
|
6 |
90154105 |
01/10/1986 * |
300,000.00 |
BANK OF MAHARASHTRA |
CHANDRAPUR BRANCH, CHANDRAPUR, MAHARASHTRA, INDIA |
- |
|
7 |
90154756 |
05/03/1986 * |
2,730,000.00 |
THE STATE INDUSTRIAL INVESTMENT CORPORATION OF M. |
NARIMAN POINT, BOMBAY-400021, MAHARASHTRA , INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Sales Tax Liability Deferred 1988 Scheme |
2.538 |
4.674 |
|
Sales Tax Liability Deferred 1993 Scheme |
15.393 |
21.972 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related Parties From Directors |
0.000 |
3.450 |
|
Total |
17.931 |
30.096 |
OPERATIONS:
During the year
the company has earned a profit of Rs. 140.836 Million including other income,
as compared to the Profit during the previous year of Rs. 96.638 Million. The
total sales during the year has increased to Rs.1370.298 Million as compared to
Rs. 1021.932 Million during the previous year, resulting an increase of 34.09%
in comparison to the previous year inspite of the overall recessionary trends
in the global chemical industry.
During the year
the company followed on its consistent approach to reduce costs via Continuous
Process Improvement and Energy Conservation.
Raw material
prices continued to remain firm during the year, thereby affecting margins. The
management lays emphasis on long term relationships with suppliers of critical
raw materials.
PROJECT AND FUTURE
PLANS:
The company
intends to continue its efforts in maintaining a leadership position in the
Beta Naphthol and allied intermediates business. They intend to continue to cut
costs and offer the products at globally competitive pricing. Efforts at
promoting export of Beta Naphthol and other products met with good success
during the year.
The company is
using the R and D facility to continuously look for new products mix, improve
existing processes, reduce effluents generation, amongst others as per
International standards. A new range of products for the Cosmetic and Pharma
industry have been launched. These should start contributing to our growth from
later this year.
Modernisation and
Automation of manual processes for improved operational efficiency, was
continued during the year.
The company is
also exploring newer growth areas such as contract manufacturing /
manufacturing outsourcing by engaging global chemical companies for
manufacturing contracts. The company is actively pursuing the development of
5-6 new products under this category.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Guarantee given by the Banks |
1.200 |
1.749 |
|
Letter of credit issued by bank on our behalf |
10.397 |
0.087 |
|
Following cases are under dispute with appropriate authorities 1) Income Tax ITAT-A. Y, 2008-09 |
0.00 |
0.891 |
|
|
|
|
|
Total |
11.597 |
2.727 |
FIXED ASSETS:
Tangible Assets
·
Land
Buildings
Plant and
Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
Computer
Intangible Assets
Computer
Software
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 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. 63.89 |
|
|
1 |
Rs. 99.71 |
|
Euro |
1 |
Rs. 70.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
IND |
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 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.