MIRA INFORM REPORT
|
Report No.: |
323952 |
|
Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
NANDINI INDUSTRIES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H.No. 3-179/NR, Plot No. 179, Guttalabegampet-S1, Phase II, Kavuri
Hills, Madhapur, Hyderabad – 500081, Telangana |
|
Tel. No.: |
91-40-49021249/38 |
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|
|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
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|
Date of
Incorporation : |
05.03.1999 |
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|
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Com. Reg. No.: |
36-031278 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 157.316 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92190TG1999PTC031278 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDT02448F |
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|
|
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PAN No.: [Permanent Account No.] |
AABCC1975C |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Trader, Exporter and Importer of Bulk Drugs. |
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|
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 600000 |
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|
|
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Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1999 and it is engaged in the business
of trading, importing and exporting of Bulk drugs, methanol, sodium
hydroxide, sodium methanite. It is company an established company having
satisfactory track record. For the financial year ended
2014, company has reported Rs. 685.700 Million turnover with profit of
Rs. 5.973 Million against previous year (2013) sales turnover of Rs. 212.700
Million with profit of Rs. 5.792 Million. Company has achieved topline growth of 14.79% and it has profitability
margins of 0.87% during a year under a review. The company possesses average financial risk profile marked by low
reserves position and moderate debt protection metrics. Rating also takes into consideration company’s established track
record business operations backed by promoters’ extensive industry experience
in a segment. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of improved operational profile backed by extensive industry
experience promotors, the company can be considered for business dealings at
usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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. Koteshwar Rao |
|
Designation : |
Account Manager |
|
Contact No.: |
91-40-49021238 |
|
Date : |
22.05.2015 |
LOCATIONS
|
Registered Office : |
H.No. 3-179/NR, Plot No. 179, Guttalabegampet-S1, Phase II, Kavuri
Hills, Madhapur, Hyderabad – 500081, Telangana, India |
|
Tel. No.: |
91-40-49021249/ 38 |
|
Mobile No.: |
91-9989184731 (Mr. Karunnakar) |
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Fax No.: |
91-40-49021225 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Warehouse : |
Located at : Mumbai, Maharashtra, India |
DIRECTORS
AS ON 05.07.2015
|
Name : |
Mr. Haridas Ramesh |
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Designation : |
Managing Director |
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|
Address : |
Plot No. 1016A, Road No. 46, Jubilee Hills, Hyderabad – 500033,
Telangana, India |
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Date of Birth/Age : |
14.08.1965 |
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Date of Appointment : |
16.08.2005 |
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DIN No.: |
00107388 |
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Other Directorship:
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Name : |
Ms. Urvashi Ramesh |
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Designation : |
Director |
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|
Address : |
H.No. 8-2-293/82/A/1016A, Road No. 46, Jubliee Hills, Hyderabad,
Telanagana, India |
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Date of Birth/Age : |
26.10.1970 |
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Date of Appointment : |
27.01.2005 |
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DIN No.: |
02458629 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Koteshwar Rao |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.07.2015
|
Names of Shareholders |
|
No. of Shares |
|
Haridas Ramesh |
|
143762960 |
|
Urvashi Ramesh |
|
1927330 |
|
Venkatesh Haridass |
|
1790 |
|
Transfreight Shipping and Allied Services India Private Limited |
|
233330 |
|
Trans Gel Industries Limited |
|
536080 |
|
Transfreight Shipping Services (Proprietor H. Ramesh) |
|
10854960 |
|
|
|
|
|
Total |
|
157316450 |
Equity Share Break up (Percentage of Total Equity)
AS ON 05.07.2015
|
Category |
Percentage |
|
Bodies corporate |
7.39 |
|
Directors or relatives of Directors |
92.61 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Bulk Drugs. |
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Products : |
Bulk Drugs |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Drugs |
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Countries : |
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Imports : |
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Products : |
Drugs |
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Countries : |
Saudi Arabia |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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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 : |
C Narayana Chartered Accountant |
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Address : |
Flat No. 13, Siddiambar Bazar |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABJPC6715G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 05.07.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs. 160.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15731645 |
Equity Shares |
Rs.10/- each |
Rs. 157.316
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 |
157.316 |
157.316 |
145.408 |
|
(b) Reserves & Surplus |
83.713 |
77.740 |
71.948 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
1.054 |
|
Total
Shareholders’ Funds (1) + (2) |
241.029 |
235.056 |
218.410 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
641.987 |
109.669 |
109.826 |
|
(b) Deferred tax liabilities (Net) |
5.231 |
5.314 |
5.141 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
647.218 |
114.983 |
114.967 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
275.140 |
655.390 |
589.397 |
|
(b) Trade
payables |
267.130 |
219.959 |
213.173 |
|
(c) Other
current liabilities |
168.690 |
1.830 |
121.054 |
|
(d) Short-term
provisions |
5.713 |
3.403 |
5.564 |
|
Total Current
Liabilities (4) |
716.673 |
880.582 |
929.188 |
|
|
|
|
|
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TOTAL |
1604.920 |
1230.621 |
1262.565 |
|
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|
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II.
ASSETS |
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|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
39.125 |
42.740 |
43.741 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
65.734 |
65.734 |
54.878 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.040 |
0.077 |
0.117 |
|
Total Non-Current
Assets |
104.899 |
108.551 |
98.736 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
26.075 |
17.987 |
14.140 |
|
(c) Trade
receivables |
640.290 |
706.804 |
645.280 |
|
(d) Cash
and cash equivalents |
7.770 |
1.943 |
116.885 |
|
(e)
Short-term loans and advances |
765.728 |
335.178 |
353.095 |
|
(f) Other
current assets |
60.158 |
60.158 |
34.429 |
|
Total
Current Assets |
1500.021 |
1122.070 |
1163.829 |
|
|
|
|
|
|
TOTAL |
1604.920 |
1230.621 |
1262.565 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL INCOME
|
685.750 |
212.705 |
260.015 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
672.573 |
200.631 |
208.528 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
13.177 |
12.074 |
51.487 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
3.718 |
3.665 |
3.296 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.459 |
8.409 |
48.191 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.486 |
2.617 |
37.482 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
5.973 |
5.792 |
10.709 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.38 |
0.37 |
0.68 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
600.000 |
Expected Sales (2015-16): Rs. 900.000 Million
The above information has been parted by Mr. Koteshwar Rao (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.87
|
2.72 |
4.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.63 |
3.27 |
3.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.16 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.81 |
3.25 |
3.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09 |
1.27 |
1.25 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
145.408 |
157.316 |
157.316 |
|
Reserves & Surplus |
71.948 |
77.740 |
83.713 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
1.054 |
|
Net
worth |
217.356 |
235.056 |
242.083 |
|
|
|
|
|
|
long-term borrowings |
109.826 |
109.669 |
641.987 |
|
Short term borrowings |
589.397 |
655.390 |
275.140 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
699.223 |
765.059 |
917.127 |
|
Debt/Equity
ratio |
3.217 |
3.255 |
3.788 |
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) |
|
Total Income |
260.015 |
212.705 |
685.570 |
|
|
|
|
222.310 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
260.015 |
212.705 |
685.570 |
|
Profit |
10.709 |
5.792 |
5.973 |
|
|
4.12% |
2.72% |
0.87% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
------ |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
------ |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
------ |
|
33 |
Market information |
------ |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 7-158, 1-102 Ist Floor, Divyashakti Commercial Complex, Amerpet,
Hyderabad – 500016, Telanagana, India to the
present address w.e.f. 03.05.2012.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from directors |
48.315 |
99.587 |
|
Loans and advances from others |
10.082 |
10.082 |
|
|
|
|
|
Total |
58.397 |
109.669 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10197268 |
24/12/2013 * |
895,000,000.00 |
STATE BANK OF INDIA |
Commercial Branch
Secundrabad, Ashok My Home Cham Andhra Pradesh - 500003, INDIA |
B96792981 |
|
2 |
10093970 |
19/03/2008 |
6,400,000.00 |
STATE BANK OF INDIA |
Yellareddyguda Branch, Srinagar Colony Road,, HYDERABAD, Andhra Pradesh - 500073, INDIA |
A34973099 |
|
3 |
10074108 |
17/10/2007 |
400,000.00 |
STATE BANK OF INDIA |
Yellareddyguda Branch, Srinagar Colony Road, HYDERABAD, Andhra Pradesh - 500073, INDIA |
A26023697 |
* Date of
charge modification
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.70 |
|
|
1 |
Rs. 98.92 |
|
Euro |
1 |
Rs. 70.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.