MIRA INFORM REPORT

 

 

Report No. :

347281

Report Date :

28.10.2015

 

IDENTIFICATION DETAILS

 

Name :

HAZEL MERCANTILE LIMITED (w.e.f. 09.03.1999)

 

 

Formerly Known As :

HAZEL MERCANTILE PRIVATE LIMITED

 

 

Registered Office :

181, Ashoka Shopping Centre, 2nd Floor, G.T. Hospital Complex, L.T. Road, Mumbai – 400 001, Maharashtra

Tel. No.:

91-22-22610282

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.10.1995

 

 

Com. Reg. No.:

11-093674

 

 

Capital Investment / Paid-up Capital :

Rs. 324.960 Million

 

 

CIN No.:

[Company Identification No.]

U51900MH1995PLC093674

 

 

IEC No.:

0396030441

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMH05177E

 

 

PAN No.:

[Permanent Account No.]

AAACH2671K

 

 

Legal Form :

A Closely Held Public Limited liability Company

 

 

Line of Business :

Trader and Distributer of Chemicals, Metals, Sheets, Paper, Pharmaceutical products, Paper products, Natural Rubber, Computer Software Development and Electricity Generation etc.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (61)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is promoted by Mr. Nitin Kumar Didwania and Mrs. Sushmadevi Didwani in May, 1995, is the flagship company of Groupe Veritas. It is a closely held public limited company, engaged in the trade and distribution of chemicals-petrochemicals, polymers, paper and paper boards, rubber and heavy distillates. It has fine track record.

 

Profitability of the company is low during FY 2014. Further, it possesses a decent financial risk profile marked by adequate networth base along with fair liquidity and moderate gearing levels.

 

The rating also takes into consideration extensive experience of the promoter in the trading and distributions of chemicals-petrochemicals, diversified product profile and long standing relations with reputed supplies.

 

Trade relations are reported as fair. Business is active. Payment are reported to be regular and as per commitments.

 

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.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term bank facilities = A

Rating Explanation

Have adequate degree of safety and carry low credit risk

Date

30.04.2015

 

Rating Agency Name

CARE

Rating

Short term bank facilities = A1

Rating Explanation

Have very strong degree of safety and carry lowest credit risk

Date

30.04.2015

 

 

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 31-03-2015.

 

 

INFORMATION DECLINED

 

MANAGEMENT Non CO-OPERATIVE

 

(TEL. NO.: 91-22-22824444/ 61840000)

 

 

LOCATIONS

 

Registered Office :

181, Ashoka Shopping Centre, 2nd Floor, G.T. Hospital Complex, L.T. Road, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-22610282 / 43512000 / 22610262 / 22824444

Fax No.:

91-22-22620553 / 22824440

E-Mail :

ashok@hmlindia.com

nikunj.s@hmlindia.com

corp@hmlindia.com

admin@hmlindia.com

regd@hmlindia.com

regd@groupeveritas.com

Website :

http://www.hmlindia.com

http://www.groupeveritas.com

 

 

Head Office :

Office No.4, 1st Floor, Naitik Gandhidham Unas Association, Police Station Road, Gandhidham, Gujarat, India

Tel. No.:

91-283-6229548

 

 

Corporate Office 1 :

701/712A, Embassy Centre, Nariman Point,  Mumbai – 400021, Maharashtra, India

Tel. No.:

91-22-22824444/ 40098900

Fax No.:

91-22-22824440/ 22041411

E-Mail :

corp@hmlindia.com

 

 

Corporate Office 2 :

Veritas House, 70 Mint Road, Fort, Mumbai – 400001, MAharashtra India

Tel. No.:

91-22-22755555 / 61840000

Fax No.:

91- 22-22755556 / 61840001

E-Mail :

corp@hmlindia.com 

 

 

Marketing Office :

1410, Maker Chambers V, Nariman Point, Mumbai – 400021, Maharashtra, India

Tel. No.:

91-22-22832170 (5 Lines)

Fax No.:

91-22-22821605

E-Mail :

mktg@hmlindia.com

 

 

Branch Office 1 :

SEZ Office:

Shed No.250, sector III, KSEZ, Kandla, Gandhidham, Gujarat,  India

E-Mail :

hazelmercantile@hotmail.com

 

 

Branch Offices :

Located at:

 

·         Agartala    

·         Ahmedabad    

·         Bhopal    

·         Chennai    

·         Cochin    

·         Daman    

·         Delhi    

·         Faridabad    

·         Hyderabad    

·         Jaipur    

·         Kakinada

·         Kandla    

·         Kolkata    

·         Mumbai    

·         Nagpur    

·         Surat    

·         Silvassa    

·         Vapi

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mrs. Sushma Deendayal Didwania

Designation :

Director

Address :

172, kshitij,, 47, napeansea raod,, mumbai, 400036, maharashtra, india

Date of Birth/Age :

13.09.1955

Qualification :

B.Com

Date of Appointment :

01.04.1997

DIN No.:

00210240

 

 

Name :

Mr. Nitinkumar Dindayal Didwania

Designation :

Managing Director

Address :

172, Kshitij,, 47, Nepeansea Road,, Mumbai, 400036, Maharashtra, India

Date of Birth/Age :

23.06.1974

Qualification :

M.Com

Date of Appointment :

01.04.2012

PAN No.:

AACPD7055J

DIN No.:

00210289

 

 

Name :

Mr. Saurabh Dipak Sanghvi

Designation :

Director

Address :

66, Kamal Building, 69, Walkeshwar Road, Mumbai, 400006, Maharashtra, India

Date of Birth/Age :

05.08.1974

Date of Appointment :

28.09.2012

DIN No.:

02000411

 

 

Name :

Mr. Viren Sanjay Agarwal

Designation :

Director

Address :

42, Maheshwari Niketan, 9th Floor, Next To Jindal Mansion, Peddar Road,, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

11.11.1992

Date of Appointment :

30.09.2014

DIN No.:

06971564

 

 

KEY EXECUTIVES

 

Name :

Mr. Manoj Radheyshyam Agarwal

Designation :

Chief Finance Officer

Address :

D/304, Galaxy Classique, Opposite BMC Office, Mitha Nagar, Goregaon (West), Mumbai - 400062, Maharashtra, India

Date of Appointment :

24.12.2014

PAN No.:

ACQPA5926M

 

 

Name :

Mr. Pragat Vasant Shetty

Designation :

Secretary

Address :

204, Bhaskar Bhavan Appartment, B.P. Cross Road Near Railway Station, Bhayandar(East), Thane - 401105, Maharashtra, India

Date of Birth/Age :

04.01.1990

Date of Appointment :

17.07.2014

PAN No.:

CLQPS5744G

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

Nitin Kumar  Didwania

32487100

Sushmadevi Didwania

900

Vishal Sukhani

4600

Ajay Jain

200

Yash Gala

200

Sourabh Sanghvi

200

Sanjay Busa

2800

Total

32496000

 

 

AS ON 30.09.2014

 

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of Directors

99.98

Other top fifty shareholders

0.02

 

 

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Distributer of Chemicals, Metals, Sheets, Paper, Pharmaceutical products, Paper products, Natural Rubber, Computer Software Development and Electricity Generation etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name:

Not Divulged

Branch :

Not Divulged

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Punjab National Bank

Foreshore Road Branch, Rahej Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India

 

·         State Bank of India

Commercial Branch (Advances), N. G. N. Vaidya Marg, Bank Street, Horniman Circle, Fort, Post Box 10141, Mumbai - 400001, Maharashtra, India

 

·         Corporation Bank

Overseas Branch, Nariman Point, Mumbai - 400021, Maharashtra, India

 

·         ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

 

·         Barclays Bank Plc

601/ 603 Ceejay House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

 

·         The Nedungadi Bank Limited

265; Birya House, Bazargale Street; Fort, Mumbai – 400001, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Rupee term loans from banks

13.596

19.973

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks

1017.787

1035.129

 

 

 

Total

 

1031.383

1055.102

 

Banking Relations :

--

 

 

Financial Institution :

·         3i Infotech Trusteeship Services Limited

3rd to 6th floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India

 

 

Auditors :

 

Name :

Shabbir S. Bagasrawala

Chartered Accountants

Address :

Office No.8, 1st Floor, Narayan Niwas, 63, Aarey Road, Goregaon (West), Mumbai – 400062, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AACFS5834Q

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiary Companies :

·         Hazel Middle East FZE

·         HML Europe BV

·         HML PTE Limited

 

 

Enterprise over which Key Managerial Personnel are able to exercise significant influence :

 

·         Veritas Properties Limited

·         Veritas Housing Development Private limited.

·         Hazel Logistics Private Limited

·         Sears Real Estate Private Limited

·         Affluent Properties Private Limited

·         Clairvoyant Trade Impex Private Limited

·         Diva Trade Impex Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,100,000

Equity Shares

Rs. 10/- each

Rs. 501.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

32,496,000

Equity Shares

Rs. 10/- each

Rs. 324.960 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

324.960

324.960

300.000

(b) Reserves & Surplus

5835.834

5763.188

2446.064

(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)

6160.794

6088.148

2746.064

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

13.596

19.973

26.098

(b) Deferred tax liabilities (Net)

40.471

47.290

44.258

(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)

54.067

67.263

70.356

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1142.299

1158.051

661.699

(b) Trade payables

7736.812

6968.862

5421.250

(c) Other current liabilities

91.489

84.955

259.674

(d) Short-term provisions

12.203

12.203

12.423

Total Current Liabilities (4)

8982.803

8224.071

6355.046

 

 

 

 

TOTAL

15197.664

14379.482

9171.466

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

163.084

177.755

173.011

(ii) Intangible Assets

2096.253

2795.004

0.000

(iii) Capital work-in-progress

17.230

7.800

0.000

(iv) Intangible assets under development

0.000

0.000

205.803

(b) Non-current Investments

359.010

346.126

0.000

(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

0.000

0.000

0.000

Total Non-Current Assets

2635.577

3326.685

378.814

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

3666.466

2754.857

2173.670

(c) Trade receivables

7979.019

7169.997

5591.702

(d) Cash and cash equivalents

399.981

656.095

427.161

(e) Short-term loans and advances

516.621

471.848

600.119

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

12562.087

11052.797

8792.652

 

 

 

 

TOTAL

15197.664

14379.482

9171.466

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operation

30981.541

25081.440

20639.763

 

 

Other Income

137.722

245.412

182.459

 

 

TOTAL                                     (A)

31119.263

25326.852

20822.222

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of Stock-in-Trade

30204.448

24221.391

19785.769

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(911.608)

(581.188)

(367.426)

 

 

Employees benefits expense

73.484

66.174

34.055

 

 

Other expenses

692.952

695.139

561.836

 

 

TOTAL                                     (B)

30059.276

24401.516

20014.234

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

1059.987

925.336

807.988

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

209.846

225.507

141.771

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

850.141

699.829

666.217

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

716.672

694.842

13.385

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)

133.469

4.987

652.832

 

 

 

 

 

Less

TAX                                                                  (H)

3.204

51.040

51.014

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX (G-H)                  (I)

130.265

(46.053)

601.818

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

F.O.B. Value of Exports

5034.906

10240.197

434.361

 

 

Freight Insurance and Commission

25.808

20.053

2.227

 

 

Dividend

57.980

169.309

14.007

 

TOTAL EARNINGS

5118.694

10429.559

450.595

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

15731.886

19278.048

1485.375

 

 

 

 

 

 

Earnings/(Loss) Per Share (Rs.)

4.01

(1.42)

20.06

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

6.043

6.043

6.043

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from (used in) Operations

(52.330)

141.085

87.483

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.42

-0.18

2.92

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

3.42

3.69

3.91

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.90

0.04

7.28

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.02

0.00

0.24

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.19

0.19

0.25

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.40

1.34

1.38

 

 

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

300.000

324.960

324.960

Reserves & Surplus

2446.064

5763.188

5835.834

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

2746.064

6088.148

6160.794

 

 

 

 

Long-term borrowings

26.098

19.973

13.596

Short term borrowings

661.699

1158.051

1142.299

CURRENT MATURITIES OF LONG-TERM DEBTS

6.043

6.043

6.043

Total borrowings

693.840

1184.067

1161.938

Debt/Equity ratio

0.253

0.194

0.189

 

 

 

 

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

20639.763

25081.440

30981.541

 

 

21.520

23.524

 

 

 

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

20639.763

25081.440

30981.541

Profit

601.818

(46.053)

130.265

 

2.92%

(0.18%)

0.42%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS:

 

 

HIGH COURT OF BOMBAY

 

CASE DETAILS

BENCH: BOMBAY

PRESENTATION DATE: 29.08.2013

LODGING NO: SL/760/2013     FILING DATE: 29.08.2013     REG. NO.: S/903/2013REG. DATE: 09.12.2013    

PETITIONER: JUBILANT LIFE SCIENCES LIMITED RESPONDENT: HAZEL MERCANTILE LIMITED

 PETN. ADV:  M/S UTANGALE AND CO (0)              RESP. ADV: VIVEK KANTAWALA AND COMPANY                                                                                                                        (I3106)

DISTRICT: OUTSIDE MAHARASHTRA

BENCH: SINGLE

STATUS: PRE-ADMISSION                  CATEGORY: SUITS FOR GOODS SOLD AND DELIVERED

NEXT DATE: 27.10.2015                       STAGE: FOR ADMISSION/DENIAL OF DOCUMENTS

CORAM: HON’BLE SHRI JUSTICE S. J. KATHAWALLA

LAST DATE: 22.07.2015                        STAGE: FOR DIRECTION (ORIGINAL SIDE MATTERS)

LAST CORAM: HON’BLE SHRI JUSTICE S. J. KATHAWALLA

ACT: Code of Civil Procedure 1908        

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10545656

24/12/2014

300,000,000.00

PUNJAB NATIONAL BANK

FORESHORE ROAD BRANCH, RAHEJA CHAMBERS, NARIMAN
POINT, MUMBAI - 400021, MAHARASHTRA, INDIA

C41699604

2

10198433

12/01/2010

42,300,000.00

PUNJAB NATIONAL BANK

FORESHORE ROAD BRANCH, RAHEJA CHAMBERS,NARIMAN
POINT, MUMBAI - 400021, MAHARASHTRA, INDIA

A78104643

3

80027453

16/07/2014 *

10,800,000,000.00

PUNJAB NATIONAL BANK (LEAD BANK)

FORESHORE ROAD BRANCH, RAHEJA CHAMBERS, NARIMAN
POINT, MUMBAI - 400021, MAHARASHTRA, INDIA

C15033327

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT-TERM BORROWINGS

 

 

Loans and advances from directors

124.512

122.922

 

 

 

Total

 

124.512

122.922

 

 

OPERATIONS

 

Financial Year 2013-14 witnessed to be the challenging year of economic uncertainties. Despite constrains and challenging environment, the Company has demonstrated the resilience in its business which can be demonstrated from the following figures and comparison:

 

Standalone Trading Turnover increased by 23.52 % to Rs. 30981.541 Million as compared to previous year of Rs. 25081.440 Million.

 

Standalone Profit before Depreciation, Amortization and Tax increased by 21.48 % to Rs. 850.140 Million as compared to previous year figure of Rs. 699.829 Million.

 

CORPORATE INFORMATION:

 

The Company is in the business of Imports, Exports, Trading and Distribution of Chemicals, Metals, Sheets, Paper, Pharmaceutical products, Paper products, Natural Rubber, Computer Software Development and Electricity Generation etc.

 

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

Letter/s of comfort / Guarantees given on behalf of Subsidiaries and other Entities

4784.164

3261.575

VAT Demand Under Appeal

11.653

0.000

 

 

 

Total

 

4795.817

3261.575

 

 

 

FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and Equipment

·         Emission Reduction Equipment

·         Vehicles

·         Office Equipment

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 enter

 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.64.96

UK Pound

1

Rs.99.73

Euro

1

Rs.71.84

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

61

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.