MIRA INFORM REPORT
|
Report No. : |
339592 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SI GROUP - INDIA LIMITED (w.e.f.13.09.2006) |
|
|
|
|
Formerly Known
As : |
SCHENECTADY HERDILLIA LIMITED HERDILLIA CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.2/1, TTC Industrial Area, Thane-Belapur Road,
Opposite Juinagar Railway Station, Turbhe, Navi Mumbai - 400703, Maharashtra |
|
Tel. No.: |
91-22-66732000/ 01/ 27683328/ 27681153/ 27681154/ 27611508 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.07.1963 |
|
|
|
|
Com. Reg. No.: |
11-012674 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 423.345
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1963PLC012674 |
|
|
|
|
IEC No.: |
0388084146 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS04774A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7323L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Organic Chemicals. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate net worth base and decent profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Paradkar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-30782039 |
|
Date : |
03.09.2015 |
LOCATIONS
|
Registered Office/ Navi Mumbai Unit : |
Plot No.2/1, TTC Industrial Area, Thane-Belapur Road, Opposite
Juinagar Railway Station, Turbhe, Navi Mumbai - 400703, Maharashtra, India |
|
Tel. No.: |
91-22-66732000/ 01/ 27683328/ 27681153/ 27681154/ 27611508 |
|
Fax No.: |
91-22-27671848/ 27685653/ 2589 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
1003-1006, 10th Floor, Arcadia, 195, NCPA Marg, Nariman
Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-30782000/ 30782039 |
|
Fax No.: |
91-22-30782038 |
|
E-Mail : |
|
|
|
|
|
Rasal Unit : |
Village Rasal, P.O. Pali Taluka – Sudhagad, District Raigad – 410205,
Maharashtra, India |
|
Tel. No.: |
91-2142-242669/ 242670 |
|
Fax No.: |
91-2142-242668 |
|
E-Mail : |
|
|
|
|
|
Lote Unit : |
Plot No.D-1/3, M.I.D.C. Lote Parshuram, Taluka – Khed, District
Ratnagiri – 415722, Maharashtra, India |
|
Tel. No.: |
91-2356-272246/ 272129 |
|
Fax No.: |
91-2356-272006 |
|
E-Mail : |
|
|
|
|
|
Ranjangaon Unit : |
E-89, MIDC, Ranjangaon Nagar Road, Taluka Shirur, District Pune –
412220, Maharashtra, India |
|
Tel. No.: |
91-2138-670407 |
DIRECTORS
AS ON 26.08.2015
|
Name : |
Mr. Richard Paul Barlow |
|
Designation : |
Director |
|
Address : |
11, Devoe Drive, Clifton Park, New York 12065 |
|
Date of Birth/Age : |
08.10.1962 |
|
Date of Appointment : |
22.02.2002 |
|
DIN No.: |
00075741 |
|
|
|
|
Name : |
Mr. Emmanuel Carl Mauriece Joseph Hess |
|
Designation : |
Director |
|
Address : |
175, Boulevard Clemence 59700, Marcqen Baroeu, France 59700 |
|
Date of Birth/Age : |
28.07.1956 |
|
Qualification : |
Chemical Engineering (EMSCS), MBA (OSU) |
|
Date of Appointment : |
12.02.2008 |
|
DIN No.: |
02019494 |
|
|
|
|
Name : |
Mr. Girindrachandra Chandrakant Vasudeo |
|
Designation : |
Managing director |
|
Address : |
358-A, Gangaram Khatri Wadi, Second Floor, J.S. Road, Mumbai – 400002,
Maharashtra, India |
|
Date of Birth/Age : |
23.12.1954 |
|
Qualification : |
B. Com. (Hons.), LL.B., FCA, FCS, AICWA |
|
Experience : |
36 Years |
|
Date of Appointment : |
23.07.2008 |
|
PAN No.: |
AADPV5438N |
|
DIN No.: |
00021772 |
|
|
|
|
Name : |
Mr. Pankaj Chadha |
|
Designation : |
Whole-Time Director |
|
Address : |
B 19/1, DLF Phase 1, Gurgaon, 122002, Haryana, India |
|
Date of Birth/Age : |
17.10.1960 |
|
Qualification : |
B. Tech. - IIT |
|
Experience : |
31 Years |
|
Date of Appointment : |
10.10.2013 |
|
DIN No.: |
00159744 |
|
|
|
|
Name : |
Mr. Frank Anthony Bozich |
|
Designation : |
Additional director |
|
Address : |
1174 Ruffner Road, Niskayuna NY, 12309, United States of America |
|
Date of Birth/Age : |
16.09.1960 |
|
Date of Appointment : |
10.10.2013 |
|
DIN No.: |
06711320 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Varadarajan |
|
Designation : |
Secretary |
|
Address : |
102, Aniket Premjyot Complex, G. M. Link Road, Shivaji Nagar,, Mumbai, 400043, Maharashtra, INDIA |
|
Date of Birth/Age : |
13.05.1962 |
|
Date of Appointment : |
28.01.2014 |
|
PAN No.: |
AACPV9272F |
|
|
|
|
Name : |
Mr. Paradkar |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
B. Rajagopal |
|
Designation : |
Adviser |
|
|
|
|
Name : |
Mr. Amit Tandon |
|
Designation : |
Regional Sales Director |
|
|
|
|
Name : |
Mr. Suresh Kalra |
|
Designation : |
Regional Sales Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.08.2014
NOTE: SHAREHOLDING
DETAILS FILE ATTACHED
AS ON 26.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
97.34 |
|
Bodies corporate |
0.13 |
|
Other top fifty shareholders |
0.42 |
|
Others |
2.11 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Organic Chemicals. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
-- |
||||||
|
|
|
||||||
|
Agencies Held : |
-- |
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
Not Divulged |
||||||
|
Countries : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
Not Divulged |
||||||
|
Countries : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Not Divulged |
||||||
|
|
|
||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· State Bank of India Commercial Branch (Advances), N.G.N. Vaidya Marg, Mumbai - 400023,
Maharashtra, India ·
The
Bank of Nova Scotia Mittal Tower, 'B' Wing, Nariman Point, Mumbai – 400021, Maharashtra,
India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
-- |
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
703, Godrej Castlemaine, 7th Floor, Bund Garden Road, Pune
– 411001, Maharashtra, India |
|
PAN No.: |
AAIFB4734C |
|
|
|
|
Holding Company
: |
SI Group Inc., United States |
|
|
|
|
Fellow
Subsidiary Companies : |
· SI Group-UK Limited, United Kingdom · SI Group-Canada Limited, Canada · SI Group-Crios Resinas S.A., Brazil · SI Group-Ribecourt SAS, France · SI Group-Bethune SAS, France · SI Group-Switzerland GmbH, Switzerland · SI Group-South Africa (Proprietary) Limited, South Africa · SI Group-Australia Pty. Limited, Australia · SI Group (Shanghai) Company Limited, China · SI Group (Nanjing) Company Limited, China · SI Group (Shanghai) Trading Limited, China · Schenectady Korea Limited, Korea · SI Group-Singapore Pte. Limited, Singapore · Schenectady International Group Inc., United States · Schenectady Luxembourg Sarl, Luxembourg · Schenectady Asia Pacific Holding Inc., United States · Uralchimplast - SI Group |
CAPITAL STRUCTURE
AFTER 26.08.2014
Authorised Capital : Rs. 1035.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 412.083
Million
AS ON 26.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
103,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 1035.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42,334,513 |
Equity Shares |
Rs.10/- each |
Rs. 423.345
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 |
423.345 |
423.345 |
423.345 |
|
(b) Reserves & Surplus |
3327.270 |
2967.541 |
2883.357 |
|
(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) |
3750.615 |
3390.886 |
3306.702 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
55.967 |
49.657 |
40.683 |
|
(b) Deferred tax liabilities (Net) |
166.466 |
89.967 |
100.941 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
111.808 |
373.017 |
349.265 |
|
Total
Non-current Liabilities (3) |
334.241 |
512.641 |
490.889 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
166.341 |
0.000 |
|
(b)
Trade payables |
1161.720 |
883.813 |
1113.105 |
|
(c)
Other current liabilities |
365.688 |
333.730 |
253.255 |
|
(d)
Short-term provisions |
60.871 |
23.361 |
187.068 |
|
Total
Current Liabilities (4) |
1588.279 |
1407.245 |
1553.428 |
|
|
|
|
|
|
TOTAL |
5673.135 |
5310.772 |
5351.019 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1511.756 |
1647.960 |
1755.149 |
|
(ii)
Intangible Assets |
29.790 |
41.457 |
53.124 |
|
(iii)
Capital work-in-progress |
25.663 |
36.061 |
25.876 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.004 |
0.004 |
0.004 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
164.364 |
93.150 |
89.923 |
|
(e)
Other Non-current assets |
53.933 |
84.250 |
51.227 |
|
Total
Non-Current Assets |
1785.510 |
1902.882 |
1975.303 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1289.013 |
1323.976 |
1349.431 |
|
(c)
Trade receivables |
1826.369 |
1789.535 |
1650.778 |
|
(d)
Cash and cash equivalents |
527.868 |
78.433 |
184.387 |
|
(e)
Short-term loans and advances |
229.744 |
214.213 |
183.896 |
|
(f)
Other current assets |
14.631 |
1.733 |
7.224 |
|
Total
Current Assets |
3887.625 |
3407.890 |
3375.716 |
|
|
|
|
|
|
TOTAL |
5673.135 |
5310.772 |
5351.019 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
11625.155 |
10567.700 |
10281.020 |
|
|
|
Other Income |
35.937 |
60.267 |
60.048 |
|
|
|
TOTAL (A) |
11661.092 |
10627.967 |
10341.068 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
8418.574 |
7533.926 |
6955.220 |
|
|
|
Purchases of Stock-in-Trade |
16.564 |
4.518 |
2.045 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(73.921) |
21.203 |
(197.602) |
|
|
|
Employees benefits expense |
615.770 |
596.577 |
559.987 |
|
|
|
Other expenses |
2045.943 |
1941.997 |
1637.232 |
|
|
|
Exceptional Items |
(297.081) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
10725.849 |
10098.221 |
8956.882 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
935.243 |
529.746 |
1384.186 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.273 |
12.381 |
7.620 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
928.970 |
517.365 |
1376.566 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
167.819 |
172.285 |
161.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
761.151 |
345.080 |
1215.476 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
252.638 |
112.828 |
407.085 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
508.513 |
232.252 |
808.391 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
2161.107 |
2129.045 |
1833.134 |
|
|
|
Indenting Commission |
20.827 |
10.934 |
7.403 |
|
|
|
Research and development fees |
25.982 |
25.450 |
29.789 |
|
|
TOTAL EARNINGS |
2207.916 |
2165.429 |
1870.326 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2825.912 |
2548.302 |
2642.327 |
|
|
|
Traded Goods |
16.523 |
4.079 |
1.693 |
|
|
|
Components and Stores parts |
37.710 |
54.767 |
30.627 |
|
|
|
Capital Goods |
0.000 |
0.884 |
0.300 |
|
|
TOTAL IMPORTS |
2880.145 |
2608.032 |
2674.947 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.01 |
5.49 |
19.10 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.575 |
0.097 |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
887.305 |
139.158 |
1293.853 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.37 |
2.20 |
7.86 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
8.04 |
5.01 |
13.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.48 |
6.54 |
22.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.10 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.02 |
0.06 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.45 |
2.42 |
2.17 |
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 |
423.345 |
423.345 |
423.345 |
|
Reserves & Surplus |
2883.357 |
2967.541 |
3327.270 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3306.702 |
3390.886 |
3750.615 |
|
|
|
|
|
|
Long-term borrowings |
40.683 |
49.657 |
55.967 |
|
Short term borrowings |
0.000 |
166.341 |
0.000 |
|
Total
borrowings |
40.683 |
216.095 |
56.542 |
|
Debt/Equity ratio |
0.012 |
0.064 |
0.015 |
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 |
10281.020 |
10567.700 |
11625.155 |
|
|
|
2.788 |
10.006 |
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 |
10281.020 |
10567.700 |
11625.155 |
|
Profit |
808.391 |
232.252 |
508.513 |
|
|
7.86% |
2.20% |
4.37% |
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 |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90371420 |
20/01/2000 |
2,300,000.00 |
JANATA SAHAKRI
BANK LIMITED |
1444 SHUKRAWAR PETH
THORALE BAJIRAO RAOD, PUNE, MAHARASHTRA, INDIA |
- |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment liabilities |
55.967 |
49.657 |
|
SHORT TERM
BORROWINGS |
|
|
|
Term loan from Banks |
0.000 |
30.000 |
|
Working capital loans from banks |
0.000 |
136.341 |
|
|
|
|
|
Total |
55.967 |
215.998 |
OPERATIONS REVIEW
The sales turnover during the year was Rs. 12740.000 Million which was higher by 10% compared to that of the previous year.
The financial performance during the year improved over last year resulting into higher margins due to various initiatives including cost saving measures taken by the Company.
PRODUCTION
The combined production at the Navi Mumbai, Rasal, Lote and Ranjangaon units for the year ended March 31, 2014 was 174,237 MT as against 173,145 MT in the previous year, a marginal increase of 1%.
Production during the year ended March 31, 2014 at the Navi Mumbai unit was 133,933 MT, marginally lower by 2% compared to 136,265 MT during the previous year.
Production at the Rasal unit was 13,565 MT as against 12,098 MT during the previous year, an increase of 12%.
Production at the Lote unit was 8,141 MT as against 7,784 MT during the previous year, an increase of 5%.
Production at the Ranjangaon unit was 18,598 MT as against 16,998 MT during the previous year, an increase of 9%.
SALES AND EXPORTS
During the financial year, they were able to increase the prices of finished goods which enabled us to recover the increases in raw material prices.
During the year Company continued its emphasis on the downstream products and high end derivatives to serve the strategic market segments and further improve the market share.
The Company had applied for reinstatement of levy of Anti Dumping Duty (ADD) on import of Phenol from USA and Taiwan. The Government of India has levied an interim duty on these imports from May 16, 2014.
During the year, exports aggregated to Rs. 2160.000 Million FOB (previous year Rs. 2130.000 Million) a marginal increase of 1% over the
FINANCE
During the year, the Company did not accept any fresh deposits or renew any existing deposits from the public or shareholders. As of March 31, 2014, deposits aggregating Rs. 0.044 Million had matured for payment but not paid/deposited with the concerned authority under regulatory advice.
As per the Order issued by the Ministry of Corporate Affairs (MCA), Cost Audit Branch on January 24, 2012, cost accounting of Organic and Inorganic Chemicals falling under specified chapters of Central Excise Tariff Act, 1985 are required to be audited by a Cost Auditor. As per the previous year. requirement of Central Government and pursuant to Section 233B of the Companies Act, 1956, cost audit is carried out of cost maintained by the Company in respects of all its products falling under the category of Organic Chemicals. Subject to the approval of the Central Government, the Company has appointed Mr. Kishore Bhatia, Cost Accountant as Cost Auditors to audit the cost accounts of the Company for the financial year 2014-15. The Cost Audit report for the financial year 2012-13, which was due to be filed with the Ministry of Corporate Affairs upto September 27, 2013, was filed on September 27, 2013.
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Computer software
· Goodwill
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 records 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. 66.23 |
|
|
1 |
Rs. 101.22 |
|
Euro |
1 |
Rs. 74.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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.