MIRA INFORM REPORT
|
Report No. : |
308724 |
|
Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
VAISHNAVI CHEMICALS |
|
|
|
|
Registered
Office : |
14-2-417, Gosha Mahal, Hyderabad – 500012, Telangana |
|
Tel. No.: |
91-40-66105052 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 (Provisional) |
|
|
|
|
Year of
Establishment : |
26.11.2011 |
|
|
|
|
Capital
Investment : |
Rs. 126.278 Million |
|
|
|
|
TIN No.: |
36152455105 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AATFM8399R |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Trader of Methanol, Toluene and Other Petroleum Products. |
|
|
|
|
No. of Employees
: |
14 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track record. The concern is progressing well. General financial position of the
concern is decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct and as per commitments. The concern 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.
INFORMATION PARTED BY
|
Name : |
Mr. Sandeep Agarwal |
|
Designation : |
Partner |
|
Contact No.: |
91-9989400299 |
|
Date : |
30.04.2015 |
LOCATIONS
|
Registered Office : |
14-2-417, Gosha Mahal, Hyderabad – 500012, Telangana, India |
|
Tel. No.: |
91-40-66105052 |
|
Mobile No.: |
91-9989400299 [Mr. Sandeep Agarwal] |
|
Fax No.: |
91-40-66251198 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Corporate Office : |
Flat No. 101, 1, 2, 234/ 13/ 54 to 56, Indira Park Road, Opposite NTR
Play Ground, Domalguda, Hyderabad – 500029, Telangana, India |
|
|
|
|
Godown : |
Plot No. 151, IDA Mallapur, Hyderabad, Telangana, India |
PARTNERS
|
Name : |
Mr. Sandeep Agarwal |
|
Designation : |
Partner |
|
Address : |
21-7-752, Ghansi Bazar, Hyderabad, Telangana, India |
|
Date of Birth/Age : |
31.12.1973 |
|
Qualification : |
B. Com |
|
Experience : |
15 Years |
|
PAN No.: |
AEZPK4811L |
|
Passport No.: |
G2571866 |
|
|
|
|
Name : |
Mr. Pradeep Agarwal |
|
Designation : |
Partner |
|
Address : |
21-7-752, Ghansi Bazar, Hyderabad, Telangana, India |
|
Date of Birth/Age : |
31.05.1979 |
|
Qualification : |
B. Com |
|
Experience : |
10 Years |
|
PAN No.: |
ADYPP6645B |
BUSINESS DETAILS
|
Line of Business : |
Trader of Methanol, Toluene and Other Petroleum Products. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
-- |
|
Countries : |
-- |
|
|
|
|
Imports : |
|
|
Products : |
-- |
|
Countries : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (60 Days and 90 Days) |
|
|
|
|
Purchasing : |
L/C and Credit (30 Days and 90 Days) |
GENERAL INFORMATION
|
Suppliers : |
·
Manohar
Chemicals Address: Bangalore, Karnataka, India Contact Person: Mr. Bipin
(91-9448147356) · Rekha Chemicals Address: Hyderabad, Andhra Pradesh, India Contact Person: Mr. Suresh (91-9985366671) ·
R.R.
Enterprises Address: Hyderabad, Andhra Pradesh, India · Kundan Rice Mills · Kamdhenu and Co. · Uni Chem Corporation ·
Sumair Chemicals |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End Users
· KVB Mr. Rajesh [91-8008476476] ·
Neo Fine Chemicals Mr. Karthi Trivedi [91-9849022214] · Hem Chemical Industries Mr. Hanumantha Rao [91-9949038490]
· M.B. Fine Chemicals Mr. Bipin [91-9866016332] · Devron Chemicals · Divis Laboratories Limited · Tyche Chem Limited · Fleming Laboratories Limited ·
Reema Organics |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
14 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
-- |
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
Aakash and Company Chartered Accountants |
|
Address : |
Basheerbagh, Hyderabad, Telangana, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2015 [PROVISIONAL]
|
PARTICULARS |
AMOUNT IN
MILLION |
|
|
|
|
Pradeep Agarwal |
25.456 |
|
Sandeep Agarwal |
100.822 |
|
|
|
|
Total |
126.278 |
FINANCIAL DATA
[all figures are
in Rupees Million]
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2015 [Provisional] |
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
126.278 |
43.289 |
6.458 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Profit and Loss Account |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
126.278 |
43.289 |
6.458 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
29.313 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
29.313 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
155.591 |
43.289 |
6.458 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.093 |
0.112 |
0.147 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.016
|
0.987 |
0.000 |
|
|
Sundry Debtors |
151.153
|
192.233 |
110.514 |
|
|
Cash & Bank Balances |
7.119
|
6.576 |
5.447 |
|
|
Other Current Assets |
5.374
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
214.662
|
199.796 |
115.961 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
53.850
|
154.663 |
80.143 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.230 |
|
|
Provisions |
5.314
|
1.956 |
29.277 |
|
Total
Current Liabilities |
59.164
|
156.619 |
109.650 |
|
|
Net Current Assets |
155.498
|
43.177 |
6.311 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
155.591 |
43.289 |
6.458 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2015 [Provisional] |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales [Net] |
|
1129.092 |
484.552 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL (A) |
|
1129.092 |
484.552 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
|
1106.665 |
470.588 |
|
|
|
Direct Expenses |
|
1.542 |
0.635 |
|
|
|
Administrative Expenses |
|
3.979 |
7.412 |
|
|
|
TOTAL (B) |
|
1112.186 |
478.635 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
16.906 |
5.917 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.580 |
0.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
16.326 |
5.209 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.020 |
0.034 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
16.306 |
5.175 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
5.217 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
11.089 |
5.175 |
|
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales [Net] |
|
|
138.780 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
138.780 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
|
|
134.998 |
|
|
|
Bonus |
|
|
0.021 |
|
|
|
Conveyance |
|
|
0.114 |
|
|
|
Discounts |
|
|
1.466 |
|
|
|
Interest on Capital Account |
|
|
0.310 |
|
|
|
Labour charges |
|
|
0.160 |
|
|
|
Partners Remuneration |
|
|
0.120 |
|
|
|
Rent |
|
|
0.036 |
|
|
|
Salary |
|
|
0.333 |
|
|
|
Other Expenses |
|
|
0.145 |
|
|
|
TOTAL |
|
|
137.703 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
|
|
1.077 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.069 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
1.008 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2015 [Provisional] |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.98
|
1.07 |
0.73 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.50
|
1.22 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.59
|
2.59 |
0.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.12 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.23
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.63
|
1.28 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015
[Provisional] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Partner’s Capital |
6.458 |
43.289 |
126.278 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6.458 |
43.289 |
126.278 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
29.313 |
|
Total
borrowings |
0.000 |
0.000 |
29.313 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.232 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015
[Provisional] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
138.780 |
484.552 |
1129.092 |
|
|
|
249.151 |
133.018 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015
[Provisional] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
138.780 |
484.552 |
1129.092 |
|
Profit |
1.008 |
5.175 |
11.089 |
|
|
0.73% |
1.07% |
0.98% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLION)
|
PARTICULARS |
2016 Projected |
2017 Projected |
2018 Projected |
|
|
|
|
|
|
GROSS SALES |
|
|
|
|
Domestic Sales |
2750.000 |
3500.000 |
4500.000 |
|
Export Sales |
-- |
-- |
-- |
|
|
|
|
|
|
Add: Other Revenue Income |
5.000 |
3.100 |
12.500 |
|
|
|
|
|
|
Total |
2755.000 |
3503.100 |
4512.500 |
|
|
|
|
|
|
Less: Excise Duty |
-- |
-- |
-- |
|
|
|
|
|
|
Deduct Other Items |
-- |
-- |
-- |
|
|
|
|
|
|
Net Sales (1-2) |
2755.000 |
3503.100 |
4512.500 |
|
|
|
|
|
|
%age rise (+) or fall (-) in net sales as compared to previous year
(annualized) |
144.00 |
27.15 |
28.81 |
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
i) Raw Materials [including stores and other
items used in the process of manufacture] |
2672.500 97.01% |
3397.500 96.99% |
4380.000 97.06% |
|
Imported |
-- |
-- |
-- |
|
Indigenous |
2672.500 |
3397.500 |
4380.000 |
|
|
|
|
|
|
ii) Other Spares |
|
|
|
|
Imported |
-- |
-- |
-- |
|
Indigenous |
-- |
-- |
-- |
|
|
|
|
|
|
iii) Power and Fuel |
-- |
-- |
-- |
|
|
|
|
|
|
iv) Direct Labour (Factory wages and salary) |
-- |
-- |
-- |
|
|
|
|
|
|
v) Other Manufacturing expenses |
10.200 |
13.500 |
15.000 |
|
|
|
|
|
|
vi) Depreciation |
0.200 |
0.200 |
0.200 |
|
|
|
|
|
|
Sub-Total [i to iv] |
2682.900 |
3411.200 |
4395.200 |
|
|
|
|
|
|
Add: Opening Stock in process |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sub-Total |
2682.900 |
3411.200 |
4395.200 |
|
|
|
|
|
|
Less: Closing Stock in process |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Cost of Production |
2682.900 |
3411.200 |
4395.200 |
|
|
|
|
|
|
Add: Opening Stock of Finished Goods |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sub-Total |
2682.900 |
3411.200 |
4395.200 |
|
|
|
|
|
|
Less: Closing Stock of Finished Goods |
-- |
-- |
-- |
|
|
|
|
|
|
Sub-Total [Total Cost of Sales] |
2682.900 |
3411.200 |
4395.200 |
|
|
|
|
|
|
Selling, General & Administrative Expenses (including bonus
payments) |
6.500 |
7.500 |
10.000 |
|
|
|
|
|
|
Sub-Total |
2689.400 |
3418.700 |
4405.200 |
|
|
|
|
|
|
Operating profit before interest |
65.600 |
84.400 |
107.300 |
|
|
|
|
|
|
Interest |
23.500 |
30.000 |
35.000 |
|
|
|
|
|
|
Operating profit after interest |
42.100 |
54.400 |
72.300 |
|
|
|
|
|
|
Add: Other non-operating
income Interest and Discount on Advances/ Loans |
-- |
-- |
-- |
|
|
|
|
|
|
Others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sub-Total [Income] |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Deduct: Other
non-operating expense |
|
|
|
|
P&P Expenses including all book entries
off |
-- |
-- |
-- |
|
Goodwill w/o |
-- |
-- |
-- |
|
Loss on assets / R & D expenses |
-- |
-- |
-- |
|
Diminution in Invest and Doubtful Debts |
-- |
-- |
-- |
|
Sub-Total [Expenses] |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net of other non-operating incomes/expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Profit before tax/loss |
42.100 |
54.400 |
72.300 |
|
|
|
|
|
|
Provision for taxes |
11.600 |
14.700 |
18.100 |
|
|
|
|
|
|
Prior years adjustment [if any] |
-- |
-- |
-- |
|
|
|
|
|
|
Net Profit/ Loss for the year |
30.500 |
39.700 |
54.200 |
|
|
|
|
|
|
Equity dividend paid amount [Already paid +
B.S. provision] |
0.000 |
0.000 |
0.000 |
|
Dividend Rate |
-- |
-- |
-- |
|
|
|
|
|
|
Retained Profit |
30.500 |
39.700 |
54.200 |
|
|
|
|
|
|
Retained Profit/ Net Profit (%) |
100.00 |
100.00 |
100.00 |
|
|
|
|
|
|
PBT/ NS |
1.53% |
1.55% |
1.60% |
|
|
|
|
|
|
PAT/ NS |
1.11% |
1.13% |
1.20% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLION)
|
PARTICULARS |
2016 Projected |
2017 Projected |
2018 Projected |
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
Short
term borrowings from bank (including Bills purchased, discounted & excess
borrowings placed on repayment basis) |
|
|
|
|
(i) From applicant bank |
200.000 |
250.000 |
250.000 |
|
(ii)
From other banks |
-- |
-- |
-- |
|
(iii)
of which BP & BD |
-- |
-- |
-- |
|
|
|
|
|
|
Sub Total (A) |
200.000 |
250.000 |
250.000 |
|
|
|
|
|
|
Short
term borrowings from others |
-- |
-- |
-- |
|
|
|
|
|
|
Sundry
Creditors - Trade |
250.000 |
350.000 |
400.000 |
|
|
|
|
|
|
Advance
payments from customers/deposits from dealers |
-- |
-- |
-- |
|
|
|
|
|
|
Provision
for taxes |
11.600 |
14.700 |
18.100 |
|
|
|
|
|
|
Dividend
Payable |
-- |
-- |
-- |
|
|
|
|
|
|
Other
statutory liabilities (due within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
Deposits/Instalments
of term loan/ DPGs/ Debentures etc. (due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other
current liabilities & Provisions (due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Others |
0.000 |
0.000 |
0.000 |
|
Interest accrued and due |
-- |
-- |
-- |
|
|
|
|
|
|
Sub-Total [B] |
261.600 |
364.700 |
418.100 |
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES |
461.600 |
614.700 |
668.100 |
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
Debentures
(not maturing within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
Preference
Shares (redeemable after one year) |
-- |
-- |
-- |
|
|
|
|
|
|
Term
loans (excluding instalments payable within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Deferred
Payment Credits (excluding instalments due within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
Term
deposits (repayable after one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other
term liabilities |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL TERM LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL OUTSIDE LIABILITIES |
461.600 |
614.700 |
668.100 |
|
|
|
|
|
|
NET WORTH |
|
|
|
|
Ordinary
Share Capital |
159.300 |
206.500 |
260.700 |
|
|
|
|
|
|
General Reserves |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Revaluation Reserves |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Reserves [excluding provisions] Share Premium |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Surplus
(+) or deficit (-) in Profit & Loss Account |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Others (Specify) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
NET WORTH |
159.300 |
206.500 |
260.700 |
|
|
|
|
|
|
TOTAL
LIABILITIES |
620.900 |
821.200 |
928.800 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
CURRENT ASSETS |
|
|
|
|
Cash
& Bank balances |
7.600 |
10.800 |
11.200 |
|
|
|
|
|
|
Fixed
Deposits |
37.500 |
47.500 |
52.500 |
|
|
|
|
|
|
Receivables
other than deferred and exports [Include bills purchased and discounted by
Banks] |
373.200 |
510.000 |
600.000 |
|
|
|
|
|
|
Export receivables [Include bills purchased and discounted by
Banks] |
-- |
-- |
-- |
|
|
|
|
|
|
Installments of deferred receivables [due
within one year] |
-- |
-- |
-- |
|
|
|
|
|
|
Inventory: |
|
|
|
|
Raw
materials (including stores and other items in process of manufacture) |
180.000 |
232.800 |
240.000 |
|
Imported |
0.000 |
0.000 |
0.000 |
|
Indigenous |
180.000 |
232.800 |
240.000 |
|
|
|
|
|
|
Stock in process |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Finished goods |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Consumable Spares |
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Advance to suppliers of raw materials and
stores and spares |
20.000 |
20.000 |
25.000 |
|
|
|
|
|
|
Advance payment of taxes |
-- |
-- |
-- |
|
|
|
|
|
|
Other Current Assets |
-- |
-- |
-- |
|
|
|
|
|
|
Other Deposits |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL CURRENT ASSETS |
618.300 |
821.100 |
928.700 |
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
Gross
Block (land & building machinery vehicles work-in-progress) |
0.200 |
0.200 |
0.200 |
|
|
|
|
|
|
Depreciation
to date |
0.100 |
0.100 |
0.100 |
|
|
|
|
|
|
NET BLOCK |
0.100 |
0.100 |
0.100 |
|
|
|
|
|
|
Investments/
Book debts/ Advances deposits which are not current assets |
|
|
|
|
i.(a)
Investments in subsidiary companies/ affiliates |
-- |
-- |
-- |
|
(b)
Other Investments ICDs |
-- |
-- |
-- |
|
|
|
|
|
|
ii.
Advances to suppliers of capital goods & contractors |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
iii.
Deferred receivables (maturity exceeding one year) |
-- |
-- |
-- |
|
|
|
|
|
|
iv.
Others a)
Debtors 6 months |
-- |
-- |
-- |
|
b) Security Deposits |
2.500 |
10.000 |
0.000 |
|
c) Others |
-- |
-- |
-- |
|
|
|
|
|
|
Non-consumables stores & spares |
-- |
-- |
-- |
|
|
|
|
|
|
Other
non-current assets (including Dues from director) |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL OTHER NON-CURRENT ASSETS |
2.500 |
0.000 |
0.000 |
|
|
|
|
|
|
Intangible
assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided
for etc.) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
ASSETS (Total of 34, 37, 41 & 42) |
620.900 |
821.200 |
928.800 |
------------------------------------------------------------------------------------------------------------------------------
FUNDS FLOW STATEMENT
(RS. IN MILLION)
|
SR. NO. |
PARTICULARS |
2016 Projected |
2017 Projected |
2018 Projected |
|
|
|
|
|
|
|
1 |
SOURCES |
|
|
|
|
a |
Net Profit After Tax |
30.500 |
39.700 |
54.200 |
|
b |
Depreciation |
0.000 |
0.000 |
0.000 |
|
c |
Increase
in Capital |
33.000 |
47.200 |
54.200 |
|
d |
Increase
in TL including public deposits |
|
|
|
|
e |
Decrease in |
|
|
|
|
|
[i] Fixed Assets |
0.000 |
0.000 |
0.000 |
|
|
[ii] Other non-current Assets |
0.400 |
2.500 |
0.000 |
|
f |
Others
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Total |
63.900 |
89.400 |
108.400 |
|
|
|
|
|
|
|
2 |
USES |
|
|
|
|
a |
Net
Loss |
0.000 |
0.000 |
0.000 |
|
b |
Decrease
in Term Liabilities (Incl. Public deposits) |
29.300 |
0.000 |
0.000 |
|
c |
Increase in |
|
|
|
|
|
[i] Fixed Assets |
0.000 |
0.000 |
0.000 |
|
|
[ii] Other non-current Assets |
(0.400) |
(2.500) |
0.000 |
|
d |
Dividend
Payment |
0.000 |
0.000 |
0.000 |
|
e |
Others |
0.000 |
6.700 |
7.000 |
|
|
|
|
|
|
|
|
Total |
28.900 |
4.200 |
7.000 |
|
|
|
|
|
|
|
3 |
Long
Term Surplus / Deficit |
35.000 |
85.200 |
101.400 |
|
|
|
|
|
|
|
4 |
Increase/ (Decrease) in Current Assets |
406.500 |
202.800 |
107.600 |
|
|
|
|
|
|
|
5 |
Increase/
(Decrease) in current Liabilities other than bank borrowings |
202.400 |
103.100 |
53.400 |
|
|
|
|
|
|
|
6 |
Increase/
(Decrease) in working capital Gap |
204.100 |
99.700 |
54.200 |
|
|
|
|
|
|
|
7 |
Net Surplus (+) / Deficit (-) |
(169.100) |
(14.500) |
47.200 |
|
|
|
|
|
|
|
8 |
Increase/
(Decrease) in Bank Borrowings |
200.000 |
50.000 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
PERFORMANCE AND FINANCIAL INDICATORS
(RS. IN MILLION)
|
PARTICULARS |
2016 Projected |
2017 Projected |
2018 Projected |
|
|
|
|
|
|
Domestic
Sales [Gross] |
2750.000 |
3500.000 |
4500.000 |
|
Export Sales |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net Sales |
2755.000 |
3503.100 |
4512.500 |
|
|
|
|
|
|
%age rise (+) or fall (-) in net sales |
1440.000 |
271.500 |
288.100 |
|
|
|
|
|
|
Operating
Profit |
42.100 |
54.400 |
72.300 |
|
|
|
|
|
|
Profit
before Tax |
42.100 |
54.400 |
72.300 |
|
|
|
|
|
|
PBT/ Sales (%) |
1.53 |
1.55 |
1.60 |
|
|
|
|
|
|
Profit
after Tax |
30.500 |
39.700 |
54.200 |
|
|
|
|
|
|
Cash Accruals |
30.700 |
39.900 |
54.400 |
|
|
|
|
|
|
Paid
up Capital |
159.300 |
206.500 |
260.700 |
|
|
|
|
|
|
TNW
|
159.300 |
206.500 |
260.700 |
|
|
|
|
|
|
Adjusted TNW |
159.300 |
206.500 |
260.700 |
|
|
|
|
|
|
TOL
/ TNW [Times] |
2.90 |
2.98 |
2.56 |
|
|
|
|
|
|
Adjusted
TOL / TNW |
2.90 |
2.98 |
2.56 |
|
|
|
|
|
|
NWC
|
156.700 |
206.400 |
260.600 |
|
|
|
|
|
|
Current
Ratio |
1.34 |
1.34 |
1.39 |
|
|
|
|
|
|
OTHER RATIOS |
|
|
|
|
Operating
cost / Sales % |
98.47 |
98.45 |
98.40 |
|
|
|
|
|
|
Net Sales / TTA [Times] |
4.44 |
4.27 |
4.86 |
|
|
|
|
|
|
PBDIT
|
65.800 |
84.600 |
107.500 |
|
|
|
|
|
|
EFFICIENCY RATIOS |
|
|
|
|
Net Sales / Total Tangible Assets [Times] |
4.44 |
4.27 |
4.86 |
|
|
|
|
|
|
PBT
/ Total Tangible Assets [%] |
6.78 |
6.62 |
7.78 |
|
|
|
|
|
|
Operating
Cost to Sales [%] |
98.47 |
98.45 |
98.40 |
|
|
|
|
|
|
Bank Finance / Current Assets (%) |
32.35 |
30.45 |
26.92 |
|
|
|
|
|
|
Inventory
+ Receivables to net sales [days] |
73.29 |
77.39 |
67.94 |
|
|
|
|
|
|
RISK RATING RELATED RATIOS |
|
|
|
|
Current Ratio |
1.34 |
1.34 |
1.39 |
|
|
|
|
|
|
TOL
/ TNW [Times] |
2.90 |
2.98 |
2.56 |
|
|
|
|
|
|
PBDIT / Interest [Times] |
2.80 |
2.82 |
3.07 |
|
|
|
|
|
|
PAT
/ Net Sales [%] |
1.11 |
1.13 |
1.20 |
|
|
|
|
|
|
ROCE
[%] [PBDIT / TA] |
10.60 |
10.30 |
11.57 |
|
|
|
|
|
|
Inventory + Receivables / Sales [Days] |
73 |
77 |
68 |
------------------------------------------------------------------------------------------------------------------------------
ABF ASSESSMENT
(RS. IN MILLION)
|
PARTICULARS |
2016 Projected |
2017 Projected |
2018 Projected |
|
|
|
|
|
|
Total
Current Assets |
618.300 |
821.100 |
928.700 |
|
|
|
|
|
|
Other
Current Liabilities [Except Bank Borrowings] |
261.600 |
364.700 |
418.100 |
|
|
|
|
|
|
Working Capital Gap |
356.700 |
456.400 |
510.600 |
|
|
|
|
|
|
Net
Working Capital [Actual/ Proj.] |
156.700 |
206.400 |
260.600 |
|
|
|
|
|
|
Assessed
Bank Finance |
200.000 |
250.000 |
250.000 |
|
|
|
|
|
|
NWC
to TCA [%] |
25.34 |
25.14 |
28.06 |
|
|
|
|
|
|
Bank Finance to TCA [%] |
32.35 |
30.45 |
26.92 |
|
|
|
|
|
|
Sundry
Creditors to TCA [%] |
40.43 |
42.63 |
43.07 |
|
|
|
|
|
|
Other
Current Liabilities to TCA [%] |
1.88 |
1.79 |
1.95 |
|
|
|
|
|
|
OCA / TCA |
10.53 |
9.54 |
9.55 |
|
|
|
|
|
|
LC
/ SC |
-- |
-- |
-- |
|
|
|
|
|
|
Inventory
to Net Sales [days] |
23.85 |
24.26 |
19.41 |
|
|
|
|
|
|
Receivables
to Gross Sales [days] |
49.44 |
53.14 |
48.53 |
|
|
|
|
|
|
Sundry Creditors to Purchases [days] |
34.14 |
37.60 |
33.33 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR. PRADEEP AGARWAL
(RS. IN MILLION)
IMMOVABLE
PROPERTIES
|
Palace where the
land or building is situated [please furnished details of Survey No. and D.
No. and name of street etc.] |
Ancestral or
Self-acquired |
If encumbered
extent market to what extent of land value in acres Rs. In million |
|
|
|
|
|
Residential House at 21-7-752, Ghansi Bazar,
Opposite High Court Post office, Hyderabad – 500002 |
Ancestors |
3.500 |
|
|
|
|
|
Total |
3.500 |
|
OTHERS
CASH & BANK
BALANCE
|
PARTICULARS |
Amount |
|
Cash |
0.144 |
|
|
|
|
Bank |
0.178 |
LIFE INSURANCE
POLICIES
|
PARTICULARS |
Amount |
|
|
|
|
Policy |
0.800 |
JEWELLERY
|
PARTICULARS |
Amount |
|
|
|
|
Jewellery |
2.200 |
INVESTMENT IN
BUSINESS AND IN ASSOCIATE FIRMS, IF ANY
|
PARTICULARS |
Amount |
|
|
|
|
Investment |
14.282 |
|
LIABILITIES |
NIL |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR. SANDEEP AGARWAL
(RS. IN MILLION)
IMMOVABLE
PROPERTIES
|
Palace where the
land or building is situated [please furnished details of Survey No. and D.
No. and name of street etc.] |
Ancestral or
Self-acquired |
If encumbered
extent market to what extent of land value in acres Rs. In million |
|
|
|
|
|
Residential House at 21-7-752, Ghansi Bazar,
Opposite High Court Post office, Hyderabad – 500002 |
Ancestors |
3.500 |
|
|
|
|
|
Total |
3.500 |
|
OTHERS
CASH & BANK
BALANCE
|
PARTICULARS |
Amount |
|
Cash |
0.126 |
|
|
|
|
Bank |
0.238 |
LIFE INSURANCE
POLICIES
|
PARTICULARS |
Amount |
|
|
|
|
Policy |
1.000 |
JEWELLERY
|
PARTICULARS |
Amount |
|
|
|
|
Jewellery |
3.000 |
INVESTMENT IN
BUSINESS AND IN ASSOCIATE FIRMS, IF ANY
|
PARTICULARS |
Amount |
|
|
|
|
Investment |
17.622 |
|
LIABILITIES |
NIL |
------------------------------------------------------------------------------------------------------------------------------
BUSINESS PROFILE
The major products traded
by the Firm are Methanol, Toluene, Benzene, Acetone, etc, Methanol and Toluene
contribute about 60% of total products traded.
Methanol
Methanol is produced from natural gas or naphtha and has varied
applications in pharmaceuticals, dye intermediates, and methylaminesin the manufacturing
of Formaldehyde, Acetic Acid, Di-Methyl Terephthalate (DMT) and
Pharmaceuticals. The global demand for methanol is expected to grow annually by
4 to 5% over the medium term with demand being driven by the formaldehyde
sub-segment, which accounts for 34% of total demand. Domestic demand is likely
to grow at a CAGR of 7.7% driven by growth in construction, infrastructure
sectors, and new areas like fuel blending, bio diesel etc. The
demand-to-capacity ratio in this industry is 193% resulting in high imports.
The major producers of methanol areDeepak Fertilizers, Gujarat Fertiliser Ltd,
National Fertilizers, Rama Petrochemicals and Rashtriya Chemicals &
Fertilizers. These companies are not able to meet the entire domestic demand
necessitating imports.
Toluene
Toluene, also known as
methylbenzene or phenyl methane, is a clear, water-insoluble liquid with the
typical smell of paint thinners. It is an aromatic hydrocarbon that is widely used
as an industrial feedstock and as a solvent. Like other solvents, toluene is
also used as an inhalant drug for its intoxicating properties and is obtained
by distillation from crude petroleum. Toluene is an excellent solvent for
paints, lacquers, paint thinners and adhesives and also used extensively in the
rubber, chemical, paint, dye, glue, printing, disinfectants, and pharmaceutical
industries. Toluene also finds use in the nuclear reactors due to its good heat
transfer capabilities.
The major producers of
Toluene in India are Bharat Petroleum Chemicals Limited and Reliance Industries
Limited with plant capacities of 15000 MT/ month each. Their refineries are
located in central and western India and cater to major customers like GSFC,
GACL, IOC, AARTHI Industries Limited, Benzo Plast, Rallis India, Hyderabad
Chemicals, Paint producers like Berger and Shalimar and pharma companies like
Hetero Drugs, Vasudha Pharma, Covalent Labs, Suven Labs, API Limited, Tyche
Chem and Sri Krishna Pharma etc.
Methylene Di Chloride (MDC)
It is used mainly as a solvent for cleaning impurities in pharma and
bulk drugs units. The main users of this
product are agro and pesticide industries. There are only three suppliers of
this product in India, viz., Gujarat Alkalis Chemicals Limited, Chemplast Sanmar Limited and Sriram Fibres
Limited. The main customers for this product are
Hetero Drugs Limited, Aptuit Laurus,
Rallis India etc.
Acetone
It is mainly used in manufacture of oxy-acetylene gases for high
temperature cutting of metals. The main customers of this product are Hetero
Drugs, SMS Pharmaceuticals, Divi’s Labs, Andhra
Organics Limited, Shasun Drugs etc. Samsung Corp Group is
globally known Manufacturer and Trader in petrochemicals. The firm procures from them based on orders
on hand.
Benzene
This product is used mainly in fertilizer, dyes and bulk drug
Industry.The major domestic consumers are Fertilizers and Chemicals Travancore,
KRIBHCO, Chem Plast, Sanmar etc.
The firm has 6000 Sq. ft storage facility at Plot No: 151, IDA Mallapur,
Hyderabad. The storage facility is ideally located in the industrial zone for
the speedy delivery of the goods and better services to the customers.
Presently, since the Firm does not enjoy any
working capital facility from any bank and also did not have storage facilities
(Firm has now taken a godown of 6000 sq. ft. on rent) it procures chemicals
locally from importers on high seas basis and sells to its customers on
cash/credit. The Firm now intends to procure materials for trading from the
domestic majors like Reliance, Deepak Fertilizers, Gujarat Narmada Fertilizers
etc and also import from international conglomerates like Shell International,
Singapore; China Aviation, Singapore; S. K. Energy, South Korea; G. S. Caltex,
South Korea; Samsung Corporation, South Korea etc. to reduce the
costs and to improve profitability, besides widening its customer base.
The company has been trading in chemicals for over three years and has
established itself as one of the major players in this field. The Firm has
confirmed contracts worth Rs. 1000.000 Million for imports and sale to various
customers.
INDUSTRY OUTLOOK
|
Name of Industry |
Chemicals |
|
Products Portfolio |
Methanol, Toluene, Methly Chloride, Methylene Dichloride, Mixed Xylenes, Ortho Xylenes, Para Xylenes, Styrene, Benzene, Acetone |
|
Overall Industry Risk |
Low |
|
Presence of Substitutes/Imports |
Low |
|
Level of Competition |
Moderate |
The Indian chemical industry is among the established traditional sectors
of the country that play an integral role in the country’s economic
development. This sector forms a part of the basic goods industry and is a
critical input for industrial and agricultural development. The chemical and
petrochemical sector presently constitutes 14% of the domestic industrial
activity.
The Indian chemical industry is one of the oldest industries in India
and has made immense contribution to the industrial and agricultural
development of India. It encompasses both large and small-scale units. The
fiscal incentives granted to the small-scale units in the mid-1980s provided
the thrust to the growth of MSMEs in the sector. The chemical industry serves
the needs of sectors such as textiles, leather, plastics, paper, printing inks
and food stuffs, among others.
The chemical industry is among the most diversified industrial sectors
and includes basic chemicals and its products, petrochemicals, fertilisers,
paints, gases, pharmaceuticals, dyes, etc. The sector covers over 70,000
commercial products, and provides the feedstock to many downstream industries
such as finished drugs, dyestuffs, paper, synthetic rubber, plastics,
polyester, paints, pesticides, fertilisers and detergents. Over the years, the
industry has been evolving with a shift towards product innovation, brand
building and environmental friendliness. Besides, customer focus is gaining
significance in the industry.
The industry comprises both small-scale and large units (including MNCs)
and produces thousands of products and by-products ranging from plastics and
petrochemicals to cosmetics and toiletries. The industry consumes a significant
share (around one-third) of its own production. The industry has a 14%
weightage in the overall Index of Industrial Production (IIP) which gives an
indication of its importance in the country’s industrial growth. A robust
chemical industry ushers in many economic and strategic benefits for the
nation.
The Indian chemical sector accounts for 13-14% of total exports and 8-9%
of total imports of India. In terms of volume of production, it is the
twelfth-largest in the world and the third-largest in Asia. Currently, the per
capita consumption of products of the Indian chemical industry is one-tenth of
the world average, which reflects the huge potential for further growth. The
Indian advantage lies in the manufacturing of basic chemicals that are also
known as commodity chemicals that account for about 57% of the total domestic
chemical sector.
INDUSTRY STRUCTURE
The chemical industry can be broadly classified into two segments –
organic and inorganic chemicals. Organic chemicals cover over half of all known
chemical compounds, and include petrochemicals, drugs, cosmetics,
agrochemicals, etc. Inorganic chemicals comprise alkalis, dyes and dyestuffs.
Based on a more functional classification, chemicals can be divided into basic,
specialty and fine chemicals.
The chemical sector has witnessed growth of 13-14% in the last 5 years
while petrochemicals have registered a growth of 8-9% over the same period. The
major growth drivers, behind India’s chemical industry could be listed as
follows:
Structural advantage: With a growing market and purchasing power, the
domestic industry islikely to growth at over 10-13% in the coming years.
Growing disposable incomes and increasing urbanization are fuelling the end
consumption demand for paints, textiles, adhesives and construction, which, in
turn, leads to substantial growth opportunity for chemicals companies.
High domestic consumption: The chemicals industry in India is the
largest consumer of its ownproducts, consuming 33% of its output. With
promising growth trends in the chemicals industry, this internal consumption is
also set to rise.
Diversified industry: The Indian chemicals industry has a diversified
manufacturing base thatproduces world-class products. There is a substantial
presence of downstream industries in all segments. Further, this large and
expanding domestic chemicals market also boasts of a large pool of
highly-trained scientific manpower.
Promising export potential: Chemicals constitute ~5.4% of India’s
total exports. India alreadyhas a strong presence in the export market in the
sub-segments of dyes, pharmaceuticals and agro chemicals. India exports dyes to
Germany, the UK, the US, Switzerland, Spain, Turkey, Singapore and Japan.
Indian chemical industry is expected to register a growth of 8-9% in the
next decade and is expected to double its share in global chemical industry to
5-6% by 2021. Indian Chemical industry has the potential to grow significantly
provided some of the key growth imperatives are taken care of. Securing
Feedstock, Right Product Mix, M&A opportunities are currently the key
imperatives for chemical industry in India.
PRESENT PROPOSAL
The Firm has been trading in chemicals for over three years and has
established itself as one of the major players in this field. Presently, the
Firm is purchasing chemical, majorly Methanol from local importers and sell to
the domestic customers. It has acquired a godown of 6000 sq. ft. capacity at
IDA Mallapur. The Firm now intends to
procure materials for trading from the domestic majors like Reliance, Deepak
Fertilizers, Gujarat Narmada Fertilizers etc and also import from international
conglomerates like Shell International, Singapore; China Aviation, Singapore;
S. K. Energy, South Korea; G. S. Caltex, South Korea; Samsung Corporation,
South Korea etc. to reduce the costs and to improve profitability,
besides widening its customer base.
Therefore, the Firm is now desirous of availing fund and non fund
working capital limits from the banking channel under multiple banking
arrangements. The total requirement of working capital limits is estimated at
Rs. 450.000 Million (FBWC- Rs. 150.000 Million and NFWC- Rs. 300.000 Million).
Working capital limits of Rs.250.000 Million to us on the tentative terms and
conditions as suggested herein below. Remaining gap of Rs. 200.000 Million
shall be tied up with some other good PSU Bank.
|
Nature of Facility |
Facility |
Amount (Rs. in Million) |
||||||||||||
|
CC (Stocks and
Book Debts)- |
200.000 |
|||||||||||||
|
ILC/FLC (DP/DA) |
250.000 |
|||||||||||||
|
Sub Limit within
LC limit for |
|
|||||||||||||
|
Shipping
Guarantee |
(150.000) |
|||||||||||||
|
Buyer’s Credit |
(150.000) |
|||||||||||||
|
Overall |
450.000 |
|||||||||||||
|
Margin |
Goods in trade |
25% |
||||||||||||
|
Receivables (up
to 90 days)- |
25% |
|||||||||||||
|
LC/Shipping
Guarantee Buyers Credit |
15% |
|||||||||||||
|
Interest |
2.75%+BR, presently @ 13.00% p. a. |
|||||||||||||
|
LC/BG Commission |
As per Bank’s guidelines |
|||||||||||||
|
Processing fee |
As per Bank’s guidelines |
|||||||||||||
|
Security Primary |
Primary Security 1st pari-passu charge by hypothecation of all current assets including stocks, receivables and book debts both present and future. Exclusive charge by pledge of CDRs @ 15% of NFBL |
|||||||||||||
|
Collateral |
1stpari-passu
charge by equitable mortgage of immovable properties having the market value
of not less than 70% of the amount of facilities sought from the Bank.. |
|||||||||||||
|
Personal
guarantee |
(Rupees in Million)
|
|||||||||||||
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
Owner |
Mr. Mohd Faheemuddin S/o Late Mohd Fakhruddin |
||||||||
|
|
|
||||||||
|
Purpose |
Private Purpose |
||||||||
|
|
|
||||||||
|
Name of the Valuer |
V. Ravinder Rao [Sree Associates] |
||||||||
|
|
|
||||||||
|
Purpose of Valuation |
To assess the Fair Market Value |
||||||||
|
|
|
||||||||
|
Property address |
Entire building at H. No. 1-4-445, Kavadiguda, Hyderabad |
||||||||
|
|
|
||||||||
|
Type of Property |
25 Flats
|
||||||||
|
|
|
||||||||
|
Date of Inspection |
13.02.2014 |
||||||||
|
|
|
||||||||
|
List of Documents handed over to the valuer |
Copy of Sale deed vide doct no. 2048/11 dt:
17.08.2011 at SRO Chikkadpally Value as per deed at Rs. 2.046 Million. Copy of Agreement of sale cum GPA with
possession vide doct no. 2901/03 dt. 29.08.2003 Copy of Regularisation plan vide BPS no.
7626/BPS/C-9/EZ/2008 dt: 10.01.2011 issued by GHMC circle 9 for Cellar, Stilt
+ upper 5 floors |
||||||||
|
|
|
||||||||
|
Extent of Flats – as per BPS plan and
existing in Sq. ft. |
Flat No. 1 – 1313 Sq. ft. 2 BHK Flat No. 2 – 1612 Sq. ft. 3 BHK Flat No. 3 – 1479 Sq. ft. 2 BHK Flat No. 4 – 1594 Sq. ft. 3 BHK Flat No. 5 – 1956 Sq. ft. 3 BHK Total – 7954 Sq. ft. Office 6 – 3500 Sq. ft. |
||||||||
|
|
|
||||||||
|
Area as per regularized plan Total built up area of all the five flats in
a floor |
662 Sq. Mt. or 7125 Sq. ft. [per floor] 7954 Sq. ft. [per floor including common
area] |
||||||||
|
|
|
||||||||
|
Whether the existing construction in
conformity with civic authorities sanctioned and approved |
Yes, regularized by GHMC |
||||||||
|
|
|
||||||||
|
Present/ expected rent from the Property |
Rs. 18000/- - 2 BHK Rs. 20000/- - 3 BHK |
||||||||
|
|
|
||||||||
|
Fair Market value |
Rs. 218.735 Million |
||||||||
|
|
|
||||||||
|
Ownership and History |
The Owner has bought the said property from
Mrs. Zubeda Bai and later constructed building with Cellar, Stilt + Upper five
floors. Got the entire building regularized.
|
||||||||
|
|
|
||||||||
|
Description of Property |
The subject property is entire residential
apartment building with Cellar, Stilt + Upper five floors, located near Musheerabad
‘X’ roads. Each floor consists of five flats. Entire building belongs to the
owner. Hence, entire building with 25 flats are valued. Each floor has five
units. Flat Nos. 1, 3 and 5 are three bedroom portions and flat nos 2 and 4
are two bed room portions. Entire building is regularized and the building is
as per the regularization plan. There are two car parkings for each flat. It
is located near Musheerabad ‘X’ roads and is at a walkable distance from
there. The site is around 1.5 km from RTC X Roads and 1.5 km from
Secunderabad Railway Station. |
||||||||
|
|
|
||||||||
|
Specify the boundaries |
|
||||||||
|
Flats 101, 201, 301, 401 and 501 |
|
||||||||
|
|
|
||||||||
|
Flats 102, 202, 302, 402 and 502 |
|
||||||||
|
|
|
||||||||
|
Flats 103, 203, 303, 403 and 503 |
|
||||||||
|
|
|
||||||||
|
Flats 104, 204, 304, 404 and 504 |
|
||||||||
|
|
|
||||||||
|
Flats 105, 205, 305, 405 and 505 |
|
||||||||
|
|
|
||||||||
|
Boundary of land |
|
||||||||
|
|
|
||||||||
|
Year of Construction and present condition |
2011 |
||||||||
|
|
|
||||||||
|
Life expectancy |
78 years |
||||||||
|
|
|
||||||||
|
Locational disadvantages |
Nothing |
||||||||
|
|
|
||||||||
|
Any other relevant details whether premises utlised
for residential/ commercial own/rental occupation/lease |
Vacant |
||||||||
|
|
|
||||||||
|
Classification of the site Population group [metro/ urban/ semi-urban/
rural] High/ Middle/ Poor class Residential/ Non-residential Development of surrounding area Possibility of threat to the property
[floods, etc.] |
Urban Middle Class Residential Developed No |
||||||||
|
|
|
||||||||
|
Physical description of the site |
|
||||||||
|
Level of land [plain, rock, etc.] |
Plain |
||||||||
|
Shape of land [square, rectangular, etc.] |
Irregular |
||||||||
|
Type of use it can be put into [house/
factory, etc.] |
House |
||||||||
|
Terrain of land |
Leveled |
||||||||
|
Any usage restrictions |
No |
||||||||
|
Any specific identification marks |
Located very near Musheerabad ‘X’ Roads |
||||||||
|
Is the plot is under town planning approved layout |
Yes |
||||||||
|
Whether any road facility |
Yes |
||||||||
|
Type of road available [B.T/ Cement] |
Cement road |
||||||||
|
Front width of the road |
20’ wide road |
||||||||
|
Source of water potentially |
From municipal water |
||||||||
|
Type of sewerage system |
Under ground |
||||||||
|
Availability of power supply |
Available |
||||||||
|
Is the plot intermittent or corner plot |
Intermittent Plot |
||||||||
|
Advantages |
Located very near Musheerabad ‘X’ Roads |
||||||||
|
Disadvantages |
Nil |
||||||||
|
Proximity of basic and civic amenities |
0.5 km |
||||||||
|
|
|
||||||||
|
Specifications |
|
||||||||
|
Foundation |
RCC footings |
||||||||
|
|
|
||||||||
|
Basement |
CRS Masonry |
||||||||
|
|
|
||||||||
|
Super structure |
Brick Masonry |
||||||||
|
|
|
||||||||
|
RCC work |
1:2:4 |
||||||||
|
|
|
||||||||
|
Plastering |
Lappam finish |
||||||||
|
|
|
||||||||
|
Flooring |
Marble |
||||||||
|
|
|
||||||||
|
Ceiling |
No |
||||||||
|
|
|
||||||||
|
Doors and Windows |
Main door teak wood rest all flush doors |
||||||||
|
|
|
||||||||
|
Painting |
Plastic emulsion |
||||||||
|
|
|
||||||||
|
Drainage |
Under ground |
||||||||
|
|
|
||||||||
|
Electric Installation [Type of wire, class
of fittings] |
Sufficient |
||||||||
|
|
|
||||||||
|
Plumbing installation [No. of water costs,
etc.] |
Sufficient |
||||||||
|
|
|
||||||||
|
Borewell |
Yes |
||||||||
|
|
|
||||||||
|
Amenities |
Protected water supply, underground
sewerage, sump, overhead tank and lift |
||||||||
|
|
|
||||||||
|
Pavement around the building |
Provided |
||||||||
|
|
|
||||||||
|
Details of Flat |
|
||||||||
|
The floor in which flat is situated |
First, Second, Third, Fourth and Fifth
floors. |
||||||||
|
|
|
||||||||
|
Maintenance |
Good |
||||||||
|
|
|
||||||||
|
Sale deed in the name of |
Mr. Mohd Faheemuddin |
||||||||
|
|
|
||||||||
|
Undivided share of land |
-- |
||||||||
|
|
|
||||||||
|
Area including common area |
Total 25 flats areas |
||||||||
|
|
|
||||||||
|
Used for |
Residential |
||||||||
|
|
|
||||||||
|
No. of Bed rooms |
1 and 3 are two bed room portions 2, 4 and 5 are three bed room portions |
||||||||
|
|
|
||||||||
|
Is it posh/ I class/ Medium/ ordinary owner occupied/
tenanted |
Good |
||||||||
|
|
|
||||||||
|
If tenanted fully, monthly rent |
Rs. 230000/- for 25 flats |
||||||||
|
|
|
||||||||
|
Car parking |
Stilt and Cellar parking |
||||||||
|
|
|
||||||||
|
Description of apartment building |
|
||||||||
|
Nature of the apartment |
Residential |
||||||||
|
|
|
||||||||
|
Description of locality |
Residential |
||||||||
|
|
|
||||||||
|
Area of the land |
1307 Sq. Mt. |
||||||||
|
|
|
||||||||
|
Year of construction |
2011 |
||||||||
|
|
|
||||||||
|
Number of floors of the apartment |
Cellar + Stilt + Upper 5 Floors |
||||||||
|
|
|
||||||||
|
Number of dwelling units |
5 units per floor |
||||||||
|
|
|
||||||||
|
Quality of construction |
Good |
||||||||
|
|
|
||||||||
|
Appearance of the building |
Good |
||||||||
|
|
|
||||||||
|
Facilities available |
|
||||||||
|
Lift |
Yes |
||||||||
|
Protected water supply facility |
Yes |
||||||||
|
Underground sewerage facility |
Yes |
||||||||
|
Car parking open/ covered |
Yes |
||||||||
|
Allround compound wall is existing |
Yes |
||||||||
|
Pavement is laid around the building |
Yes |
||||||||
|
|
|
||||||||
|
Local market rate of flat per sq. ft.
prevailing at the time of valuation for new flats |
Rs. 5500/- to Rs. 6000/- per Sq. ft. |
||||||||
|
|
|
||||||||
|
Local market rate of land per Sq. yds.
prevailing at the time of valuation for new flats |
Rs. 30000/- per sq. yds. |
||||||||
|
|
|
||||||||
|
Whether the property is self acquired /
ancestral |
Self acquired |
||||||||
|
|
|
||||||||
|
Whether freehold / leasehold |
-- |
||||||||
|
|
|
||||||||
|
Details of regularization plan |
|
||||||||
|
Date of Regularisation |
10.01.2011 |
||||||||
|
Regularisation Number |
7626/BPS/C-9/EZ/2008 |
||||||||
|
Regularised Area |
662 sq. Mt. or 7125 Sq. ft. [per floor] |
||||||||
|
Deviation % |
No |
||||||||
|
|
|
||||||||
|
Whether the property constructed according
to the sanctioned plan, details of variations noticed if any and its effect
on the valuation |
Regularisation of the building was done by
circle 9, GHMC for the entire building The building is as per the regularization
plan. |
||||||||
|
|
|
||||||||
|
Method of Valuation |
The fair market value of the property is
assessed at “Comparable Sales Instance” method. The comparable sales instance
rate is inclusive of the undivided share of land consist electrical, water supply
and sanitary services and amenities etc. in the prevailing market, a rate
ranging from Rs. 5500/- per Sq. ft. to Rs. 6000/- per Sq. ft. is there for
new flats in vicinity. After taking the specifications and other important
points described above and observed during inspection, a rate of Rs. 5500/-
per Sq. ft. is considered reasonable as the markets are low. Rate includes
car parking and amenities also. |
||||||||
|
|
|
||||||||
|
Market rate per Sq. ft. |
Rs. 5500/- |
||||||||
|
|
|
||||||||
|
Extent of Flats Flat No. 1 Flat No. 2 Flat No. 3 Flat No. 4 Flat No. 5 |
1313 Sq. ft. – each flat 1612 Sq. ft. – each flat 1479 Sq. ft. – each flat 1594 Sq. ft. – each flat 1956 Sq. ft. – each flat |
||||||||
|
|
|
||||||||
|
Value of flats 101, 201, 301, 401 and 501 1313 Sq. ft. X Rs. 5500/- |
Rs. 7.221 Million each flat |
||||||||
|
|
|
||||||||
|
Value of flats 102, 202, 302, 402 and 502 1612 Sq. ft. X Rs. 5500/- |
Rs. 8.866 Million each flat |
||||||||
|
|
|
||||||||
|
Value of flats 103, 203, 303, 403 and 503 1479 Sq. ft. X Rs. 5500/- |
Rs. 8.135 Million each flat |
||||||||
|
|
|
||||||||
|
Value of flats 104, 204, 304, 404 and 504 1594 Sq. ft. X Rs. 5500/- |
Rs. 8.767 Million each flat |
||||||||
|
|
|
||||||||
|
Value of flats 105, 205, 305, 405 and 505 1956 Sq. ft. X Rs. 5500/- |
Rs. 10.758 Million each flat |
||||||||
|
|
|
||||||||
|
Total value of all the flats per floor after
completion Value of flat 1 Value of flat 2 Value of flat 3 Value of flat 4 Value of flat 5 |
7.221 8.866 8.135 8.767 10.758 43.747 |
||||||||
|
|
|
||||||||
|
Total value of all the flats in five floors Rs. 43.747 Million X 5 floors |
Rs. 218.735 Million |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Computer
· Printer and Scanner
· Furniture and Fixtures
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 records 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. 63.58 |
|
|
1 |
Rs. 97.99 |
|
Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--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.