MIRA INFORM REPORT
|
Report No. : |
328254 |
|
Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BASF INDIA LIMITED |
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Registered
Office : |
3rd Floor, Vibgyor Towers, Plot No. C-62, ‘G’ Block, Bandra
Kurla Complex, Bandra (East), Mumbai – 400098, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
13.05.1943 |
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Com. Reg. No.: |
11-003972 |
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Capital Investment
/ Paid-up Capital : |
Rs. 432.900 Million |
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CIN No.: [Company Identification
No.] |
L33112MH1943FLC003972 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufactures and sells agricultural solutions, performance products, chemicals, and functional materials. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 33000000 |
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|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is world’s leading chemical company. It is an old and
established company having an excellent track record. The company has incurred a loss during financial year 2015 however,
general financial position of the company is sound. Fundamentals of the
company are strong and healthy. Share price are quoted high on stock exchange (Face value Rs.10 with
Share Price Rs.1126) Directors are reported to be well experienced and respectable
businessman. Trade relations are reported to be trustworthy. Business is active.
Payments terms reported to be regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Non-Convertible Debentures = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
November 28, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Commercial Paper = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
November 28, 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
31-03-2013.
INFORMATION DENIED BY
Management Non-Co-operative
LOCATIONS
|
Registered Office : |
3rd Floor, Vibgyor Towers, Plot No. C-62, ‘G’ Block, Bandra
Kurla Complex, Bandra (East), Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
91-22-66618000 |
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Fax No.: |
Not Available |
|
Website : |
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Factory 1 : |
Plot Nos. 12 and 13, TTC Industrial Area, Thane-Belapur Road,
Turbhe, Navi Mumbai - 400 705, Maharashtra, India |
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Factory 2 : |
Plot Nos. C-68 and C-68 Pt., TTC Industrial Area, MIDC,
Thane Belapur Road, Turbhe, Navi Mumbai - 4 00 613, Maharashtra, India |
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Factory 3 : |
Bala/Thokur Village, Surathkal-Bajpe Road, Mangalore Taluka - 575030, Dakshina Kannada District, Karnataka, India |
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Factory 4 : |
Bommasandra Industrial Area, Anekal Taluka, Bangalore, Karnataka, India |
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Factory 5 : |
Plot Nos. 6214/6216, GIDC Phase IV Ankleshwar-393 002, Gujarat, India |
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Factory 6 : |
Plot No. 8001, GIDC Phase VI Ankleshwar-393 002, Gujarat,
India |
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Factory 7 : |
4B, Dahej Industrial Estate, Village Dahej, Taluka Vagra, District Bharuch -392130, Gujarat, India |
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Factory 8 : |
Khasra No. 87/1, Village: Beer Plassis, Nalagarh, District: Solan, Himachal Pradesh, India |
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Factory 9 : |
Gate No. 3, Jalan Industrial Complex, 46/48/49/53, Jangalpur, Howrah, West Bengal, India |
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Branches : |
Located at :
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DIRECTORS
As on 31.03.2014
|
Name : |
Dr. Raman Ramachandran |
|
Designation : |
Chairman and Managing Director |
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|
Name : |
Mr. Gops Pillay |
|
Designation : |
Director |
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DIN No.: |
06599533 |
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|
Name : |
Mr. Thilo Bischoff |
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Designation : |
Director |
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Name : |
Dr. Rainer Diercks |
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Designation : |
Director |
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Name : |
Dr. G. Ramaseshan |
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Designation : |
Director |
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Name : |
Mr. Rajesh Naik |
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Designation : |
Director |
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Name : |
Mr. Andrew Postlethwaite |
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Designation : |
Director |
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Name : |
Mr. S. Regunathan |
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Designation : |
Director |
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Name : |
Mr. R. A. Shah |
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Designation : |
Director |
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|
Name : |
Mr. R. R. Nair |
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Designation : |
Director |
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Name : |
Mr. Pradip P. Shah |
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Designation : |
Director |
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Name : |
Mr. Arun Bewoor |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Chandan |
|
Designation : |
Chief Executive - Legal, Compliance and Company Secretary |
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Management Committee : |
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SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
|
|
|
|
31743220 |
73.33 |
|
|
31743220 |
73.33 |
|
Total shareholding
of Promoter and Promoter Group (A) |
31743220 |
73.33 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
817040 |
1.89 |
|
|
597300 |
1.38 |
|
|
30 |
0.00 |
|
|
1176388 |
2.72 |
|
|
341804 |
0.79 |
|
|
2932562 |
6.77 |
|
|
|
|
|
|
2216095 |
5.12 |
|
|
|
|
|
|
5505608 |
12.72 |
|
|
657150 |
1.52 |
|
|
231005 |
0.53 |
|
|
230523 |
0.53 |
|
|
232 |
0.00 |
|
|
250 |
0.00 |
|
|
8609858 |
19.89 |
|
Total Public
shareholding (B) |
11542420 |
26.67 |
|
Total (A)+(B) |
43285640 |
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) |
43285640 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures and sells agricultural solutions, performance
products, chemicals, and functional materials. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Internal Auditor : |
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Name : |
Mahajan and Aibara Chartered Accountants |
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Address : |
1, Chawla House 62, Wodehouse Road, Colaba, Mumbai -
400005, Maharashtra, India |
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Cost Auditor : |
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|
Name : |
R. Nanabhoy and Company Cost Accountants |
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Address : |
Jer Mansion, 70 August Kranti Marg, Mumbai – 400036, Mahrashtra,
India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate holding
company : (As on 31.03.2014) |
BASF Societas Europaea (‘SE’) |
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|
Other related parties
with whom transactions have taken place during the year Fellow Subsidiaries : (As on 31.03.2014) |
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised
Capital: Not Available
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
43285640 |
Equity Shares |
Rs. 10/-
each |
Rs. 432.900
Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
54359715 |
Equity Shares |
Rs. 10/- each |
Rs. 543.579 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
43285640 |
Equity Shares |
Rs. 10/-
each |
Rs. 432.900
Million |
|
|
|
|
|
Equity shares held by
Ultimate Holding Company/Holding Company and/or their associates or
subsidiaries
|
Names of Shareholders |
Relationship |
No. of shares |
|
BASF Societas Eurpaea |
Ultimate Holding
Company |
20393259 |
|
BASF Schweiz AG |
Subsidiary of Ultimate
Holding Company |
8907900 |
|
BASF Construction Solutions GmbH (Formerly
known as BASF Construction Chemicals GmbH) |
Subsidiary of Ultimate
Holding Company |
1896061 |
Rights, preferences
and restrictions attached to the shares
The Company has one class of equity shares having a par value of Rs. 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Equity shares in the
Company held by each shareholder holding more than 5% shares
|
Names of Shareholders |
Relationship |
No. of shares |
Percentage |
|
BASF Societas Eurpaea |
Ultimate Holding
Company |
20393259 |
48.37% |
|
BASF Schweiz AG |
Subsidiary of Ultimate
Holding Company |
8907900 |
20.58% |
Reconciliation of number
of equity shares outstanding as at the beginning and at the end of reporting
period
|
Particulars |
Number of shares |
Rs. In Million |
|
Shares outstanding at the beginning of the year |
43284958 |
432.900 |
|
Shares Issued during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
43284958 |
432.900 |
Information on equity
shares allotted without receipt of cash or allotted as bonus shares or shares
bought back
- 12,579,839
equity shares were allotted to the erstwhile shareholders of Ciba India Limited
and Ciba Research (India) Private Limited consequent to the amalgamation w.e.f.
February 1, 2010.
- 2,515,653
equity shares were allotted to the erstwhile shareholders of BASF Coatings
India Private Limited and BASF Construction Chemicals India Private Limited
consequent to the amalgamation w.e.f. April 1, 2010.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
432.900 |
432.900 |
432.900 |
|
(b) Reserves & Surplus |
11187.700 |
12068.800 |
10992.600 |
|
(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) |
11620.600 |
12501.700 |
11425.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9522.000 |
7417.600 |
2582.700 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
9.300 |
|
(c) Other long term
liabilities |
2404.500 |
2271.200 |
509.700 |
|
(d) long-term
provisions |
310.300 |
326.800 |
286.000 |
|
Total Non-current
Liabilities (3) |
12236.800 |
10015.600 |
3387.700 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
6480.000 |
3133.300 |
1011.800 |
|
(b) Trade
payables |
9149.700 |
11627.200 |
9426.800 |
|
(c) Other current
liabilities |
1869.600 |
2692.500 |
2460.700 |
|
(d) Short-term
provisions |
322.000 |
374.100 |
344.100 |
|
Total Current
Liabilities (4) |
17821.300 |
17827.100 |
13243.400 |
|
|
|
|
|
|
TOTAL |
41678.700 |
40344.400 |
28056.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14252.700 |
5089.800 |
4118.200 |
|
(ii)
Intangible Assets |
0.000 |
171.000 |
235.800 |
|
(iii)
Capital work-in-progress |
0.000 |
7921.400 |
3193.200 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
10.400 |
0.000 |
|
(d) Long-term Loan and Advances |
1404.200 |
1790.500 |
1772.600 |
|
(e) Other
Non-current assets |
1322.600 |
1387.400 |
675.100 |
|
Total Non-Current
Assets |
16979.500 |
16370.500 |
9994.900 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
9907.700 |
11460.100 |
8952.500 |
|
(c) Trade
receivables |
9304.500 |
8597.600 |
6815.300 |
|
(d) Cash
and cash equivalents |
1276.900 |
150.600 |
155.500 |
|
(e)
Short-term loans and advances |
3599.300 |
3257.500 |
2080.000 |
|
(f) Other current
assets |
610.800 |
508.100 |
58.400 |
|
Total
Current Assets |
24699.200 |
23973.900 |
18061.700 |
|
|
|
|
|
|
TOTAL |
41678.700 |
40344.400 |
28056.600 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
47057.600 |
44298.900 |
39406.300 |
|
|
|
Other Income |
99.000 |
78.300 |
39.200 |
|
|
|
TOTAL |
47156.600 |
44377.200 |
39445.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
21529.600 |
22315.800 |
18460.100 |
|
|
|
Purchases of Stock-in-Trade |
13080.600 |
10606.400 |
10483.300 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
337.700 |
(1578.300) |
(922.700) |
|
|
|
Employees benefits expense |
3444.100 |
3298.800 |
2929.900 |
|
|
|
Other expenses |
7335.300 |
6814.300 |
5936.200 |
|
|
|
Exceptional Items |
(291.900) |
(104.300) |
(95.400) |
|
|
|
TOTAL |
45435.400 |
41457.000 |
36886.800 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1721.200 |
2920.200 |
2558.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
955.600 |
161.300 |
171.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
765.600 |
2758.900 |
2387.500 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1424.200 |
711.000 |
601.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(658.600) |
1943.600 |
1690.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.400 |
664.900 |
549.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(669.000) |
1278.700 |
1140.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1000.000 |
810.000 |
808.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
886.200 |
936.300 |
|
|
|
Dividend |
|
173.100 |
173.100 |
|
|
|
Tax on Dividend |
|
29.400 |
29.400 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1000.000 |
810.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(15.45) |
29.54 |
26.35 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
122.100 |
109.900 |
|
Cash generated from operations |
NA |
790.4 |
2,873.6 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(1.42) |
2.89 |
2.89 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.66 |
6.36 |
6.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.58) |
6.00 |
6.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06) |
0.16 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
1.38 |
0.85 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.34 |
1.36 |
STOCK
PRICES
|
Face Value |
Rs.10.00 |
|
Market Value |
Rs.1126 |
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 |
432.900 |
432.900 |
432.900 |
|
Reserves & Surplus |
10992.600 |
12068.800 |
11187.700 |
|
Net
worth |
11425.500 |
12501.700 |
11620.600 |
|
long-term borrowings |
2582.700 |
7417.600 |
9522.000 |
|
Short term borrowings |
1011.800 |
3133.300 |
6480.000 |
|
Current Maturities of
Long-Term Debts |
109.900 |
122.100 |
0.000 |
|
Total
borrowings |
3704.400 |
10673.000 |
16002.000 |
|
Debt/Equity
ratio |
0.324 |
0.854 |
1.377 |
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 |
39406.300 |
44298.900 |
47057.600 |
|
|
|
12.416 |
6.227 |
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 |
39406.300 |
44298.900 |
47057.600 |
|
Profit |
1140.800 |
1278.900 |
(669.000) |
|
|
2.89% |
2.89% |
(1.42%) |
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
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 |
FINANCIAL RESULTS (As on 31.03.2014)
Despite the challenging economic scenario, the sales of the Company during the year under report registered good growth over the previous year. Sales, net of excise at Rs. 44298.900 million, represent an increase of 12.4%, over the previous year. Profit before tax for the year ended 31st March, 2014 stood at Rs. 1943.600 million as compared to Rs. 1690.300 million for the previous year which represents an increase of 15.0%.
Profit after tax at Rs. 1278.700 million during the year ended 31st March, 2014 was higher by 12.1% compared to the previous year.
The Agricultural Solutions Segment has shown good growth in
sales and significant increase in profits during the year ended 31st March,
2014 mainly on account of introduction of new products and adoption of
innovative marketing initiatives.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT (As on 31.03.2014)
The Indian economy recorded growth of 4.5% (revised) in 2012-2013 and is estimated to continue its subdued growth of less than 5% in 2013-2014. Good monsoon is estimated to lead to a healthy growth rate of 3.6% in agriculture, up from 1.5% a year earlier. However, high interest rate, rising inflation, sharp depreciation of rupee against the dollar and weak global market lead to low industrial and services growth. Manufacturing sector is estimated to remain flat in 2013-2014 compared to growth of 1.1% in the previous year.
During 2013-2014, the domestic automotive industry was hit adversely by high inflation and rising interest rates. Two-wheeler segment grew at 7%, while the passenger and commercial vehicles declined by 3.9% and 18.7%, respectively.
The domestic pharmaceutical market is estimated to have increased at 8% due to increased opportunities in the exports of generic medicines and greater penetration in rural markets.
Indian construction industry is expected to grow by 2.6% in 2013-2014.
The products manufactured by the Company serve several sectors including agriculture, automobiles, construction, pharmaceuticals, consumer durables, consumer care, paint, paper, leather and textiles. In a challenging year which saw many market segments remain flat or decline, your Company continued to strengthen its position in the market.
AGRICULTURAL
SOLUTIONS (As on 31.03.2014)
The Agricultural Solutions business includes agrochemicals like insecticides, herbicides, fungicides and specialties.
The Crop Protection industry in which this business of the Company operates is dependent on the monsoon. The Agricultural Solutions business registered a good growth in sales and profits during the year under review mainly on account of introduction of new products and adoption of innovative marketing initiatives.
The SAMRUDDHITM (prosperity) programme, where the Company operates as a total solution provider to the farmers contributed significantly to this growth. This program was recognized as a good example of corporate engagement in rural India by the German Society of International Cooperation and the Indian Institute of Corporate Affairs.
With appropriate pricing policies for agricultural
commodities and higher investment and production, the agricultural sector is
expected to perform better.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80056920 |
15/07/2000 |
10,000,000.00 |
ICICI BANK LIMITED |
215,FREE PRESS HOUSE,, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
- |
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
|
7417.600 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
|
3133.300 |
|
|
|
|
|
Total |
NA |
10550.900 |
FIXED ASSETS
- Freehold Land
- Buildings
- Plant and
Machinery
- Furniture and
Fixtures
- Vehicles
- Office
Equipments
- Computers
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. 63.66 |
|
|
1 |
Rs. 100.50 |
|
Euro |
1 |
Rs. 71.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
76 |
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.