MIRA INFORM REPORT
|
Report No. : |
321570 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SICGIL INDIA LIMITED |
|
|
|
|
Registered
Office : |
827, Anna Salai, Chennai – 600002, Tamilnadu |
|
Tel. No.: |
91-44-28521644 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.07.1947 |
|
|
|
|
Com. Reg. No.: |
18-002534 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 40.783 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24111TN1947PLC002534 |
|
|
|
|
IEC No.: |
0488040965 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHET00087D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS3767M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Industrial Gases and Gas Equipment, Dry
Ice Press, Liquid
Co2, Solid Co2 and Gaseous Co2. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1380000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually 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.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Vijay Kumar |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9953364317 |
|
Date : |
08.05.2015 |
LOCATIONS
|
Registered Office : |
827, Anna Salai, Chennai – 600002, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9953364317 (Mr. Vijay Kumar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Head Office : |
VI Floor, Dhun Building, # 84, (Old No. 827), Anna Salai, Chennai – 600002, Tamilnadu, India |
|
Tel. No.: |
91-44-28521644/ 28521467/ 28520657/ 28520870 |
|
Fax No.: |
91-44-28521249 |
|
E-Mail : |
|
|
|
|
|
Unit 1 : |
Shop No. 2, G.T. Road, Tetulia More Village, Dubhi Post Nisha (PS), Dhanbad - 828205, Jharkand, India |
|
E-Mail : |
|
|
|
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|
Unit 2 : |
Old No XIII /538, New No XVIII / 462, Manjummel, Udyogmandal P.O Ernakulam - 683501, Kerela, India |
|
Tel. No.: |
91-484-2550595 |
|
E-Mail : |
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|
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Unit 3 : |
Post Box No. 11, Plot No.A-2, Survey No. 188/1, Zuari Nagar, Goa – 403726, India |
|
Tel. No.: |
91-832-2556326/ 2555821 |
|
Fax No.: |
91-832-2556326/ 3102805 |
|
E-Mail : |
|
|
|
|
|
Unit 4 : |
Shop No. 3, Tunnu Singh Chauraha Moh. Mishrana, Lakhimpur Kheri - 262701, Uttar Pradesh, India |
|
E-Mail : |
|
|
|
|
|
Unit 5 : |
Near GMR Industries Limited, S. No. 379 Sankili (V), Regidianadalavalasa (M), Srikakulam District, Andhra Pradesh, India |
|
Tel. No.: |
91-8941-237824 |
|
E-Mail : |
|
|
|
|
|
Unit 6 : |
Plot No. 3, GIDC Estate, Ranoli, Baroda - 391350, Gujarat, India |
|
Tel. No.: |
91-265-2241187 |
|
Fax No.: |
91-265-2241008 |
|
E-Mail : |
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|
|
|
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Depots : |
Located at: ·
Ahmedabad ·
Bangalore ·
Chennai
(Kodambakkam) - Dry Ice ·
Chennai
(Manali Depot) · New Delhi ·
Hyderabad
(Nacharam) ·
Mumbai ·
Pashamylaram
Depot · Taloja Depot |
DIRECTORS
AS ON 18.08.2014
|
Name : |
Mr. Farooque Dadabhoy |
|
Designation : |
Managing director |
|
Address : |
13, First Street, Subba Rao Avenue, Chennai – 600006, Tamilnadu, India
|
|
Date of Birth/Age : |
17.02.1947 |
|
Date of Appointment : |
07.06.1993 |
|
DIN No.: |
00237941 |
|
|
|
|
Name : |
Mr. Ruqshad Farooque Dadabhoy |
|
Designation : |
Director |
|
Address : |
13, First Street, Subba Rao Avenue, Chennai – 600006, Tamilnadu, India
|
|
Date of Birth/Age : |
26.10.1973 |
|
Date of Appointment : |
16.06.2006 |
|
DIN No.: |
00237686 |
|
|
|
|
Name : |
Mr. Homi Cooverji Bhabha |
|
Designation : |
Director |
|
Address : |
No. 49, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1955 |
|
Date of Appointment : |
29.04.1987 |
|
DIN No.: |
00286072 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Kumar |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Vasudev Narayanan Vijaykumar |
|
Designation : |
Secretary |
|
Address : |
14, 3rd Cross Street, Elango Nagar, Virugambakkam, Chennai –
600092, Tamilnadu, India |
|
Date of Birth/Age : |
22.09.1960 |
|
Date of Appointment : |
01.11.1990 |
|
PAN No.: |
ACGPV6379P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.08.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 18.08.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
5.00 |
|
Directors
or relatives of directors |
75.00 |
|
Other
top fifty shareholders |
15.00 |
|
Others
|
5.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Industrial Gases and Gas Equipment, Dry
Ice Press, Liquid
Co2, Solid Co2 and Gaseous Co2. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
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|
Exports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
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|
|
|
Imports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
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|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
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|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers and Others
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No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
B B Naidu and Company Chartered Accountants |
|
Address : |
MC-Parkway, 122/36, Marshalls Road, Egmore, Chennai – 600008,
Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB3238R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
|
|
Subsidiary Companies : |
· Sicgil Industrial Gases Limited [U24299TN1992PLC053959] · Cosoft India Limited [U72200TN1985PLC011629] · Sicgil Singapore Pte Limited |
|
|
|
|
Joint Venturers : |
SICGILSOL India Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Million |
|
2,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 20.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,078,339 |
Equity Shares |
Rs. 10/- each |
Rs. 40.783 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
40.783 |
40.783 |
40.783 |
|
(b) Reserves & Surplus |
442.993 |
332.934 |
325.563 |
|
(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) |
483.776 |
373.717 |
366.346 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
33.968 |
37.981 |
38.870 |
|
(b) Deferred tax liabilities (Net) |
6.484 |
21.265 |
17.145 |
|
(c)
Other long term liabilities |
52.525 |
97.788 |
99.009 |
|
(d)
long-term provisions |
31.277 |
36.156 |
31.675 |
|
Total
Non-current Liabilities (3) |
124.254 |
193.190 |
186.699 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
1.969 |
6.718 |
8.882 |
|
(c)
Other current liabilities |
4.671 |
31.664 |
11.657 |
|
(d)
Short-term provisions |
16.964 |
18.184 |
17.476 |
|
Total
Current Liabilities (4) |
23.604 |
56.566 |
38.015 |
|
|
|
|
|
|
TOTAL |
631.634 |
623.473 |
591.060 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
85.821 |
160.286 |
168.389 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.865 |
4.331 |
12.192 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
362.969 |
299.263 |
240.284 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
37.361 |
45.437 |
44.875 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
487.016 |
509.317 |
465.740 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
24.507 |
28.412 |
21.066 |
|
(c)
Trade receivables |
30.679 |
36.904 |
55.728 |
|
(d)
Cash and cash equivalents |
76.056 |
34.534 |
37.849 |
|
(e)
Short-term loans and advances |
13.376 |
14.306 |
10.677 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
144.618 |
114.156 |
125.320 |
|
|
|
|
|
|
TOTAL |
631.634 |
623.473 |
591.060 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
251.480 |
402.901 |
434.740 |
|
|
|
Other Income |
73.857 |
44.337 |
15.767 |
|
|
|
TOTAL (A) |
325.337 |
447.238 |
450.507 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
57.370 |
117.834 |
116.219 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
8.851 |
-0.978 |
-3.816 |
|
|
|
Employees benefits expense |
60.624 |
71.578 |
62.136 |
|
|
|
Other expenses |
135.871 |
189.726 |
201.189 |
|
|
|
TOTAL (B) |
262.716 |
378.160 |
375.728 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
62.621 |
69.078 |
74.779 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.333 |
5.381 |
5.687 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
57.288 |
63.697 |
69.092 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.723 |
25.011 |
26.703 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
38.565 |
38.686 |
42.389 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
-10.805 |
11.406 |
5.454 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
49.370 |
27.280 |
36.935 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Project Income |
63.994 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Component and spare parts |
0.000 |
0.307 |
0.298 |
|
|
|
Capital Goods |
9.298 |
2.401 |
3.075 |
|
|
TOTAL IMPORTS |
9.298 |
2.708 |
3.373 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.11 |
6.69 |
9.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
19.63 |
6.77 |
8.50 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
24.90 |
17.15 |
17.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.40 |
12.09 |
12.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.10 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.07 |
0.10 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.13 |
2.02 |
3.30 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
40.783 |
40.783 |
40.783 |
|
Reserves & Surplus |
325.563 |
332.934 |
442.993 |
|
Net
worth |
366.346 |
373.717 |
483.776 |
|
|
|
|
|
|
Long-term borrowings |
38.870 |
37.981 |
33.968 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
38.870 |
37.981 |
33.968 |
|
Debt/Equity
ratio |
0.106 |
0.102 |
0.070 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
434.740 |
402.901 |
251.480 |
|
|
|
(7.324) |
(37.583) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
434.740 |
402.901 |
251.480 |
|
Profit |
36.935 |
27.280 |
49.370 |
|
|
8.50% |
6.77% |
19.63% |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10436229 |
21/06/2013 |
30,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B79355665 |
|
2 |
10411506 |
26/02/2013 |
40,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B70674932 |
|
3 |
10122339 |
05/08/2008 |
25,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A45818358 |
|
4 |
10122341 |
01/08/2008 |
30,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A45818978 |
|
5 |
10080645 |
12/11/2007 |
5,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A29149416 |
|
6 |
10026136 |
18/10/2006 |
5,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A06764229 |
|
7 |
90291542 |
18/12/2013 * |
752,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B95903936 |
|
8 |
90293182 |
30/10/2007 * |
195,060,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A40824872 |
|
9 |
90293174 |
17/01/2005 * |
44,500,000.00 |
HDFC BANK |
MARIAM CENTRE, 751
B ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA |
- |
|
10 |
90292023 |
05/01/1990 |
1,800,000.00 |
BANK OF INDIA |
827 MOUNT ROAD
BRANCH, MOUINT ROAD, MADRAS, TAMILNADU - 600002, INDIA |
- |
|
11 |
90292022 |
04/01/1990 |
881,400.00 |
BANK OF INDIA |
MOUNT ROAD BRANCH,
MADRAS, TAMIL NADU - 600002, INDIA |
- |
|
12 |
90292019 |
26/12/1989 |
900,000.00 |
GRINDLAYS BANK PLC |
19 RAJAJI SALAI,
MADRAS, TAMIL NADU - 600001, INDIA |
- |
|
13 |
90291960 |
29/06/1988 |
133,333.00 |
BANK OF INDIA |
MOUNT ROAD BRANCH,
827 ANNA SALAI, MADRAS, TAMILNADU - 600002, INDIA |
- |
|
14 |
90291933 |
18/12/1987 |
985,900.00 |
BANK OF INDIA |
IND.FIN. BRAN CH,
827 ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA |
- |
|
15 |
90291856 |
18/07/1986 * |
2,400,000.00 |
BANK OF INDIA |
IND. FIN BRNACH
TARAPORE TOWERS 4TH FLOOR, 826/2 ANNA SALAI, MADRAS, TAMILNADU - 600002,
INDIA |
- |
|
16 |
90291820 |
27/07/1984 |
380,000.00 |
BANK OF INDIA |
IND. FIN. BRANCH,
827 ANNA SALAI, MADRAS, TAMIL NADU - 600002, INDIA |
- |
|
17 |
90291726 |
04/09/1980 |
990,000.00 |
BANK OF INDIA |
DHUN BULD. 827
MOUNT ROAD, MADRAS, TAMIL NADU - 600002, INDIA |
- |
|
18 |
90291630 |
07/09/1989 * |
500,000.00 |
GRINDLAYS BANK PLC |
GRINDLAYS CENTER,
MADRAS, TAMIL NADU - 600001, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits |
33.881 |
37.671 |
|
|
|
|
|
Total |
33.881 |
37.671 |
OPERATIONS
The
Company recorded a subdued performance during the year. The Company
discontinued the business of sale of liquid Co2 and solid Co2 from October
2013, owing to raw material constraints at Goa, which served as the
manufacturing unit for the Company. However, in order to consolidate its
position in the Co2 industry through cost effectiveness and in order to align
the business as a group, the Company had obtained consent of the shareholders
for sale / lease of plant and machinery and other equipment forming part of the
undertaking at its various locations to its wholly owned subsidiary Sicgil
Industrial Gases Limited. This will enable the Company to have adequate control
over the CO2 industry and ensure market stability and competitiveness. This
will also aid the Company and its subsidiaries in maintaining a steady growth
in the core business of manufacture and supply of liquid and solid carbon
dioxide.
Sales
volume stood at 8,368 tons (six months) as against 29967 tons in the previous
year. The Company’s revenue from Co2 business and projects stood at Rs. 262.798
Million in the current year as against Rs. 442.693 Million in the previous
year. Profit before tax in the current year stood at Rs 38.565 Million as
against Rs. 38.686 Million in the previous year. Since the past three years,
the company has diversified into allied businesses / applications like dry ice
blasting, project engineering and services which include supply of CO2 plants
and allied equipment and services. The Company has achieved significant progress
in this field.
The
Company looks forward to a better performance in the coming years through its
continued focus on increased business, tighter financial controls and
diversification of activities.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
(a) Claims not acknowledged as debt |
17.222 |
17.401 |
|
(b) Guarantee given by Bank |
24.239 |
43.421 |
|
(c) Guarantee given on behalf of subsidiary company |
429.982 |
333.707 |
|
(d) Capital Commitments |
1.238 |
2.389 |
FIXED ASSETS:
· Plant and Equipment
· Building
· Furniture and Fixture
· Vehicles
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. 64.05 |
|
|
1 |
Rs. 99.04 |
|
Euro |
1 |
Rs. 71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
MAN |
|
|
|
|
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
This score serves as a
reference to assess SC’s credit risk and to set the amount of credit to be
extended. It is calculated from a composite of weighted scores obtained from
each of the major sections of this report. The assessed factors and their
relative weights (as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.