MIRA INFORM REPORT
|
Report No. : |
310639 |
|
Report Date : |
09.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAMBERTI HYDROCOLLOIDS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 1 and 2, Survey No. 161/P, SIDC Road, Village Veraval (Shapar),
Taluka - Kotda Sangani, Veraval – 360024, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.07.2007 |
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Com. Reg. No.: |
04-051312 |
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Capital Investment
/ Paid-up Capital : |
Rs. 247.500 Millions |
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CIN No.: [Company Identification
No.] |
U25200GJ2007PTC051312 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTL00395D |
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PAN No.: [Permanent Account No.] |
AABCL3433E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Guar Powder and Trading in Ceramic
Chemical. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1220000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Reserves of the company seem to be low during 2014. However, general financial
position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered normal 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
31-03-2014.
LOCATIONS
|
Registered Office : |
Plot No. 1 and 2, Survey No. 161/P, SIDC Road, Village Veraval (Shapar),
Taluka - Kotda Sangani, Veraval – 360024, Gujarat, India |
|
Tel. No.: |
91-2827 293564/ 254254 |
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Fax No.: |
91-2827 254256 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Andrea Cardinali |
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Designation : |
Director |
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Address : |
24 V. Accad, Albertina, Torino 10123, Italy |
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Date of Birth/Age : |
22.04.1963 |
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Date of Appointment : |
30.12.2008 |
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DIN No.: |
01706405 |
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Other Directorship :
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Name : |
Mr. Roberto Porro |
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Designation : |
Director |
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Address : |
Via Villa, 20 Vedano al Lambro 20854, Italy |
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Date of Birth/Age : |
15.09.1955 |
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Date of Appointment : |
30.12.2008 |
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DIN No.: |
01711980 |
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Other Directorship :
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Name : |
Mr. Mahendra Tirpathi |
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Designation : |
Director |
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Address : |
402, Sanidhay Enclave, Behind Income Tax Office, Race Course, Ring
Road, Rajkot – 360001, Gujarat, India |
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Date of Birth/Age : |
08.02.1968 |
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Date of Appointment : |
23.03.2011 |
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PAN No.: |
AAHPT8970F |
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DIN No.: |
03477126 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Lamberti SPA, Italy |
24750 |
0.10 |
|
Lamint SA, Luxemborg |
23750250 |
95.96 |
|
Kamal Kumar Vyas |
975000 |
3.94 |
|
|
|
|
|
Total |
24750000 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
96.06 |
|
Others |
3.94 |
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|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Guar Powder and Trading in Ceramic
Chemical. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS: 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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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B S R and Company Chartered Accountants |
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Address : |
Ahmedabad, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAIFB4734C |
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Holding company : |
Lamint S.A. |
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Ultimate Holding
company : |
Lamberti SpA |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,750,000 |
Equity Shares |
Rs. 10/- each |
Rs. 247.500 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,750,000 |
Equity Shares |
Rs. 10/- each |
Rs. 247.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
247.500 |
247.500 |
247.500 |
|
(b) Reserves & Surplus |
179.826 |
79.047 |
25.577 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
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|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
427.326 |
326.547 |
273.077 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.592 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
2.200 |
1.571 |
0.494 |
|
Total
Non-current Liabilities (3) |
2.792 |
1.571 |
0.494 |
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|
|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
143.988 |
0.287 |
|
(b)
Trade payables |
7.804 |
26.058 |
1.281 |
|
(c)
Other current liabilities |
4.516 |
94.525 |
226.661 |
|
(d)
Short-term provisions |
0.412 |
0.950 |
32.691 |
|
Total
Current Liabilities (4) |
12.732 |
265.521 |
260.920 |
|
|
|
|
|
|
TOTAL |
442.850 |
593.639 |
534.491 |
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|
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II.
ASSETS |
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|
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|
(1) Non-current assets |
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|
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|
(a)
Fixed Assets |
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|
|
|
(i)
Tangible assets |
178.284 |
188.181 |
86.406 |
|
(ii)
Intangible Assets |
0.033 |
0.027 |
0.164 |
|
(iii)
Capital work-in-progress |
0.582 |
0.000 |
39.944 |
|
(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 |
2.028 |
14.649 |
|
(d) Long-term Loan
and Advances |
15.446 |
16.336 |
19.836 |
|
(e)
Other Non-current assets |
1.503 |
8.170 |
5.253 |
|
Total
Non-Current Assets |
195.848 |
214.742 |
166.252 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
40.795 |
294.630 |
296.928 |
|
(c)
Trade receivables |
2.506 |
1.167 |
0.000 |
|
(d)
Cash and cash equivalents |
183.305 |
49.757 |
58.649 |
|
(e)
Short-term loans and advances |
19.282 |
33.316 |
11.021 |
|
(f)
Other current assets |
1.114 |
0.027 |
1.641 |
|
Total
Current Assets |
247.002 |
378.897 |
368.239 |
|
|
|
|
|
|
TOTAL |
442.850 |
593.639 |
534.491 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1603.477 |
699.787 |
723.771 |
|
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|
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|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1451.690 |
620.984 |
581.317 |
|
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|
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|
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|
PROFIT BEFORE
TAX |
151.787 |
78.803 |
142.454 |
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|
Less |
TAX |
51.008 |
25.333 |
14.382 |
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PROFIT AFTER TAX
|
100.779 |
53.470 |
128.072 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1525.186 |
663.862 |
452.190 |
|
|
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|
|
|
|
|
Earnings Per
Share (Rs.) |
4.07 |
2.16 |
5.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
34.32 |
13.32 |
29.68 |
|
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|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.24 |
0.52 |
|
|
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|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.44 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
19.40 |
1.43 |
1.41 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
247.500 |
247.500 |
247.500 |
|
Reserves & Surplus |
25.577 |
79.047 |
179.826 |
|
Net
worth |
273.077 |
326.547 |
427.326 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.287 |
143.988 |
0.000 |
|
Total
borrowings |
0.287 |
143.988 |
0.000 |
|
Debt/Equity
ratio |
0.001 |
0.441 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
723.771 |
699.787 |
1603.477 |
|
|
|
-3.314 |
129.138 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
723.771 |
699.787 |
1603.477 |
|
Profit |
128.072 |
53.470 |
100.779 |
|
|
17.70% |
7.64% |
6.29% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 34, 2nd
Floor, Star Shopping Centre, 20-New Jagannath, Dr. Yagnik Road, Rajkot -
360001, Gujarat, India to the present address w.e.f.01.01.2009.
OPERATIONS
This is the Seventh Operational year of the Company. During the year the Company has earned a net profit of Rs. 100.779 Millions as compared to the last years net profit of Rs. 53.470 Millions.
Even if the net profit of the year ended on March 31, 2014
is higher than the result achieved in the previous financial year, the
directors confirm a non-optimistic on going scenario for the current year .
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
· 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. 62.20 |
|
|
1 |
Rs. 94.71 |
|
Euro |
1 |
Rs. 68.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
47 |
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.