MIRA INFORM REPORT
|
Report No. : |
325488 |
|
Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASTEC LIFESCIENCES LIMITED |
|
|
|
|
Registered
Office : |
Elite Square, 7th Floor, 274, Perin Nariman Street, Fort,
Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-61205600/ 22618212 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
25.01.1994 |
|
|
|
|
Com. Reg. No.: |
11-076236 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.194.550 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1994PLC076236 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20370A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4832D |
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|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturing of
Agro Chemicals Products. |
|
|
|
|
No. of Employees
: |
177 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3900000 |
|
|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established private limited company incorporated in the year
1994, having satisfactory track record. Company has recorded profit of Rs. 86.205 million in FY14 as compare
to Rs. 59.445 million in FY 13. The net worth of the company recorded as strong overall financial
position appears to be decent. However, rating also takes into consideration vast experience of the
promoters in the agro-chemicals industry and established market positions of
the company. Trade relations are fair. Business is active. Payment terms are
usually 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.
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 |
ICRA |
|
Rating |
Term Loans =BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
February, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term =A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
February, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Hemant Rajora |
|
Designation : |
Manager |
|
Contact No.: |
91-22-61205600 |
|
Date.: |
01.06.2105 |
LOCATIONS
|
Registered
Office/ Corporate Office : |
Elite Square, 7th Floor, 274, Perin Nariman Street, Fort, Mumbai
– 400 001, Maharashtra, India |
|
Tel No.: |
91-22-22618212/ 22618212 |
|
Mobile No.: |
91-9920689888 (Mr. Vijay Jain) |
|
Fax No.: |
91-22-22618289 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Research and |
F-39, MIDC, Phase-II, Dombivali (East), Thane – 421 204, Maharashtra,
India |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
B-17, B-18 and B-21, MIDC Mahad, Birwadi Industrial Area, Mahad,
District Raigad – 413 341, Maharashtra, India |
|
|
|
|
Factory 2 : |
B-16, MIDC Mahad, Birwadi Industrial Area, Local Unit Mahad, District
Raigad – 413 341, Maharashtra, India |
|
|
|
|
Factory 3 : |
Additional MIDC, Plot No.K-2/1/1, Mahad, District Raigad – 413 341,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Ashok Vishwanath Hiremath |
|
Designation : |
Chairman and Managing Director |
|
Address : |
3, Jai Kiran, 35, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra,
India |
|
Date of Birth/Age : |
31.05.1955 |
|
Date of Appointment : |
01.02.1994 |
|
|
|
|
Name : |
Mr. Janak J. Rawal |
|
Designation : |
Whole Time Director (Appointed w.e.f. 20.01.2012) |
|
|
|
|
Name : |
Dr. P. L. Tiwari |
|
Designation : |
Non-Executive – Non Independent Director |
|
Date of Birth/Age : |
01.07.1945 |
|
Qualification : |
MBBS, MD |
|
Date of Appointment : |
25.01.1994 |
|
|
|
|
Name : |
Mr. Laxmikant Ramprasad Kabra |
|
Designation : |
Non-Executive – Non Independent Director |
|
Date of Birth/Age : |
09.03.1969 |
|
Qualification : |
B.com, F.C.A |
|
Date of Appointment : |
25.01.1994 |
|
|
|
|
Name : |
Prof. Vinod Malshe |
|
Designation : |
Non-Executive – Independent Director |
|
Date of Birth/Age : |
28.02.1947 |
|
Qualification : |
Master of Science (Technology) |
|
Date of Appointment : |
28.03.2008 |
|
|
|
|
Name : |
Mr. Sitendu Sharma |
|
Designation : |
Non-Executive – Independent Director |
|
|
|
|
Name : |
Mr. Mohammed Zakir |
|
Designation : |
Non-Executive – Independent Director |
|
|
|
|
Name : |
Mr. Mandar Kamlakar Patil |
|
Designation : |
Non-Executive – Independent Director |
|
Date of Birth/Age : |
24.05.1970 |
|
Qualification : |
B.Com, F.C.A |
|
Date of Appointment : |
27.05.2012 |
KEY EXECUTIVES
|
Name : |
Ms. Tejal Jariwala |
|
Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS
AS ON 31.03.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
8162880 |
41.96 |
|
|
943000 |
4.85 |
|
|
1651100 |
8.49 |
|
|
1651100 |
8.49 |
|
|
10756980 |
55.29 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
10756980 |
55.29 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
715196 |
3.68 |
|
|
42655 |
0.22 |
|
|
27000 |
0.14 |
|
|
784851 |
4.03 |
|
|
|
|
|
|
1591819 |
8.18 |
|
|
|
|
|
|
3718442 |
19.11 |
|
|
2205849 |
11.34 |
|
|
397114 |
2.04 |
|
|
195633 |
1.01 |
|
|
201431 |
1.04 |
|
|
50 |
0.00 |
|
|
7913224 |
40.67 |
|
Total Public shareholding (B) |
8698075 |
44.71 |
|
Total (A)+(B) |
19455055 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
19455055 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of
Agro and Pharma Chemicals. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit and
L/C |
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Purchasing : |
Cash, Cheque,
Credit and L/C |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
177 (Approximately) |
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Bankers : (31.03.2014) |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Shah and Kathariya Chartered Accountants |
|
Address : |
Room No.6, Kermani Building, 4th Floor, 27, Sir P.M. Road,
Fort, Mumbai – 400 001, Maharashtra, India |
|
Tel. No.: |
91-22-66315862 |
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Fax No.: |
91-22-22856615 |
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Mobile No.: |
91-9821034665/ 9987249694/ 705 |
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E-Mail: |
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|
Website : |
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|
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|
Cost Auditors : (31.03.2014) |
Ritesh N. Talathi and Company Cost Accountants |
|
|
|
|
Internal Auditors : (31.03.2014) |
P. S. V. Jain and Associates Chartered Accountants |
|
|
|
|
Subsidiaries : (31.03.2014) |
·
Behram Chemicals Private Limited ·
Astec Crop Care Private Limited ·
Astec Europe SPRL ·
Comercializadora Agricola ·
Agroastrachem Cia Ltda at Columbia |
|
|
|
|
Associates : (31.03.2014) |
·
Opus Chemicals Private Limited ·
GreenGuard Technologies Private Limited ·
India TL Domain Private Limited ·
Altimax Financial Services Private Limited ·
Sahbhagi Financial Services Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Avaialble
Issued, Subscribed & Paid-up Capital : Rs. 194.550 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18529130 |
Equity Shares |
Rs.10/- each |
Rs.185.291 Million |
|
|
|
|
|
a) Reconciliation of share capital (Equity)
|
Particulars |
No. of Shares |
Amount (Rs. in Million) |
|
Balance at the beginning of the year |
18044130 |
180.441 |
|
Add : Issued during the year |
485000 |
4.850 |
|
Balance at the end of the year |
18529130 |
185.291 |
b) Shareholders holding more than 5% of the average shares in the
company’s Equity Shares
|
Name of Shareholder |
No. of Shares |
Amount (Rs. in Million) |
|
Ashok V. Hiremath |
6240780 |
624.075 |
|
Suresh Hiremath |
1650000 |
16.500 |
|
Dr. P. L. Tiwari |
1815000 |
18.150 |
|
Hridaynath Consultancy Private Limited |
-- |
-- |
|
Altimax Financial Services Private Limited |
943000 |
9.430 |
|
Total |
10648780 |
668.155 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
194.550 |
185.291 |
180.441 |
|
(b) Reserves & Surplus |
1170.564 |
961.378 |
885.212 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
4.123 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
1365.114 |
1146.669 |
1069.776 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
126.240 |
184.759 |
214.555 |
|
(b) Deferred tax liabilities (Net) |
55.945 |
41.022 |
38.567 |
|
(c) Other long term liabilities |
291.018 |
307.292 |
263.572 |
|
(d) Long-term provisions |
7.408 |
7.286 |
4.289 |
|
Total Non-current
Liabilities (3) |
480.611 |
540.359 |
520.983 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
725.720 |
542.814 |
445.12 |
|
(b) Trade payables |
830.116 |
435.951 |
454.665 |
|
(c) Other current liabilities |
120.788 |
84.175 |
59.613 |
|
(d) Short-term provisions |
45.215 |
39.836 |
27.9 |
|
Total Current Liabilities
(4) |
1721.839 |
1102.776 |
987.298 |
|
|
|
|
|
|
TOTAL |
3567.564 |
2789.804 |
2578.057 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1272.337 |
1300.513 |
1201.563 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.438 |
|
(iii) Capital work-in-progress |
122.470 |
58.368 |
130.716 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
9.981 |
9.992 |
9.981 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
192.288 |
113.814 |
78.741 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1597.076 |
1482.687 |
1421.439 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.917 |
0.535 |
0.243 |
|
(b) Inventories |
623.983 |
679.175 |
441.125 |
|
(c) Trade receivables |
976.091 |
444.246 |
601.354 |
|
(d) Cash and cash equivalents |
112.161 |
38.457 |
43.024 |
|
(e) Short-term loans and advances |
257.336 |
144.704 |
70.872 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
1970.488 |
1307.117 |
1156.618 |
|
|
|
|
|
|
TOTAL |
3567.564 |
2789.804 |
2578.057 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (Net) |
2512.068 |
1894.654 |
1656.575 |
|
|
|
Other Income |
22.514 |
10.046 |
14.375 |
|
|
|
TOTAL |
2534.582 |
1904.700 |
1670.950 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1698.187 |
1422.449 |
1181.137 |
|
|
|
Changes in inventories of finished goods, work-in-progress and traded
goods |
24.120 |
(97.228) |
31.242 |
|
|
|
Employee benefit expenses |
114.393 |
100.044 |
79.223 |
|
|
|
Other Expenses |
162.531 |
129.801 |
94.756 |
|
|
|
Exceptional Items |
169.383 |
0.000 |
0.000 |
|
|
|
Extraordinary Items |
(63.963) |
5.746 |
9.492 |
|
|
|
TOTAL |
2104.651 |
1560.812 |
1395.850 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
429.931 |
343.888 |
275.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
121.009 |
88.083 |
70.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
308.922 |
255.805 |
204.778 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
119.981 |
144.980 |
117.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
188.941 |
110.825 |
87.457 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
41.098 |
30.365 |
28.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
147.843 |
80.460 |
59.445 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
7.98 |
4.34 |
3.21 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin PAT / Sales |
(%) |
5.89 |
4.25 |
3.59 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
17.11 |
18.15 |
16.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.50 |
4.07 |
3.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.10 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.62 |
0.63 |
0.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.19 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
180.441 |
185.291 |
194.550 |
|
Reserves & Surplus |
885.212 |
961.378 |
1170.564 |
|
Money received against
share warrants |
0.000 |
0.000 |
4.123 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1065.653 |
1146.669 |
1369.237 |
|
|
|
|
|
|
long-term borrowings |
214.555 |
184.759 |
126.240 |
|
Short term borrowings |
445.120 |
542.814 |
725.720 |
|
Total borrowings |
659.675 |
727.573 |
851.960 |
|
Debt/Equity ratio |
0.619 |
0.635 |
0.622 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1656.575 |
1894.654 |
2512.068 |
|
|
|
14.372 |
32.587 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1656.575 |
1894.654 |
2512.068 |
|
Profit |
59.445 |
80.460 |
147.843 |
|
|
3.59% |
4.25% |
5.89% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS (31.03.2014)
For the year ending 31st March, 2014, Operating profit i.e. EBITDA is of the order of Rs.343.888 Million, as against Operating Profit of Rs.275.099 Million in preceding year 2012-13. Profit after Tax is Rs.86.204 Million for the year 2013-14, compared to Profit after Tax of Rs.59.445 Million reported for 2012-13.
COMPANY
PERFORMANCE (31.03.2014)
During
the year 2013-14, the Company continued its focus on improving performance across
all aspects of the business operations viz., enhance manufacturing capability
and ensuring consistency in production, improving compliance to environmental
regulations, improvement in yields and reduction in conversion costs, scaling
up business in critical high value markets, leverage international product
registrations and enhancing portfolio of product registrations for increasing
market access in critical markets enabling profitable growth.
The
Company's contract manufacturing business is making good progress Two contracts
are already established and a third one has started commercial production.
These relationships with major multinationals are leading to many growth
opportunities. The company has now established credibility to deliver and has built
plants that meet the standards required by our customers. They are already
discussing additional projects with our customers.
The
measures implemented by the Company in recent years and continued in 2013-14
have led to significant progress in various critical areas of performance:
1.
Focus on developing processes for new generation fungicides
2.
Backward integration of some of the existing molecules with a view to achieve
cost efficiency
3.
Purity and impurity profiling of molecules for the purpose of registration in
domestic and international markets
These
initiatives contributed to the Net Sales Turnover increasing by over 18% over
2012-13 to Rs.2073.300 Million and Profit after Tax increasing by 45% over the
same period to Rs.86.700 Million.
OUTLOOK
(31.03.2014)
The
world's population is expected to reach 9 billion by 2050. As population
increases, natural resources will become scarcer, mainly due to insufficient
arable land reserves, increasing urbanization and progressive climate change.
The Agrochemical Industry is expected to maintain its growth trend. With
growing income levels and reduced labour availability, the industry growth will
be led by fungicides and herbicides. Despite relative competitive advantage of
China, Indian industry continues to improve on its performance in Agrochemicals
largely owing to its superiority in select molecules and access to
international markets through product registrations and marketing capabilities.
This is likely to be maintained and the gap is expected to narrow down in the
coming year(s) in view of the challenge from China getting whittled down as
their costs are going upwards due to stricter environmental compliance
requirements in China and their currency, Yuan, appreciating in recent times.
With
an upsurge in confidence from the significantly improved performance in the
year 2013-14, the Company is optimistic about further improving on its
performance with ongoing and planned initiatives ahead. Buoyed by 50% growth
experienced by the Indian floriculture industry in the last three years, the
Government of India launched a National Horticulture Mission to double
production. Growing horticulture and floriculture industries catalyse the
demand for agrochemicals (especially fungicides).
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10570045 |
14/05/2015 |
150000000 |
IFCI LIMITED |
IFCI Tower, 61 Nehru Place, Delhi - 110019, INDIA |
C53980819 |
|
2 |
10531301 |
30/12/2014 |
840000000 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C39125901 |
|
3 |
10519630 |
30/12/2014 |
65000000 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C39130000 |
|
4 |
10444906 |
11/08/2013 |
100000000 |
IDBI Bank Limited |
224A, 2nd floor, A-Wing, Mittal court, Nariman Point, MUMBAI, Maharashtra - 400021, INDIA |
B83020115 |
|
5 |
10441804 |
18/07/2013 |
220000000 |
IDBI Bank Limited |
CBG - NARIMAN POINT
BRANCH, 224 A, 2ND FLOOR, A |
B81331951 |
|
6 |
10443772 |
11/03/2013 |
100000000 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B78384120 |
|
7 |
10339278 |
03/02/2012 |
178000000 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B33739020 |
|
8 |
10265432 |
10/01/2011 |
52000000 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B04808325 |
|
9 |
10178426 |
27/07/2009 |
50000000 |
SATATE BANK OF HYDERABAD |
OVERSEAS BRANCH, 1204, ASHOK MAHAL,, TULLOCH ROAD, COLABA, MUMBAI, Maharashtra - 400039, INDIA |
A69876019 |
|
10 |
10172696 |
30/06/2009 |
30000000 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
A68073527 |
* Date of charge modification
UNSECURED LOANS
|
Particulars |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
NA |
0.000 |
|
Loans repayable on demand from other parties |
NA |
10.993 |
|
Total
|
NA |
10.993 |
FIXED ASSETS:
· Lease Hold Land
· Factory Building
· Corporate Office
· Plant and Machinery
· Electrical Installation
· Office Equipments
· Furniture and Fixtures
· Air Conditioner
· Motor Vehicles
· Computer
· Flats
· 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 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.63.83 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
50 |
This score serves as
a reference to assess SC’s credit risk and to set the amount of credit to be extended.
It is calculated from a composite of weighted scores obtained from each of the
major sections of this report. The assessed factors and their relative weights
(as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.