MIRA INFORM REPORT
|
Report No. : |
341509 |
|
Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
DEEPAK NOVOCHEM TECHNOLOGIES LIMITED (w.e.f.07.09.2007) |
|
|
|
|
Formerly Known
As : |
DEEPAK NOVOCHEM TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
305-307, 3rd Floor, City Point, Boat Club Road, Survey No.17, Pune – 411001,
Maharashtra |
|
Tel. No.: |
91-20-66090200/ 243/ 242/ 241/ 251/ 252 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-138999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 50.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100PN2007PLC138999 |
|
|
|
|
IEC No.: |
0307052001 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD5796K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Agro Intermediaries, Pharma Intermediaries and Specialty Chemicals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 766600 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated on 31st March 2007. It is part of
the Deepak Group, headed by Mr. Chimanlal K. Mehta with Deepak Nitrate Limited
being the flagship company. It is engaged in manufacturing of organic and
specialty chemicals. The company possesses a decent profile marked by decent networth base
along with ample liquidity and profitability. The rating also takes into consideration established market position
of company in speciality chemicals, experienced promoters alongwith the
marketing arrangement with the group company - Deepak Nitrate Limited. Trade relations are reported to be fair. Business is active. Payment
terms are usually correct. The company can be considered 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 – 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 |
CARE |
|
Rating |
Long term Bank facilities = BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
February 04, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
short term Bank facilities = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk. |
|
Date |
February 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-COOPERATIVE
(CONTACT NO.: 91-20-66090200)
LOCATIONS
|
Registered/ Corporate Office : |
305-307, 3rd Floor, City Point, Boat Club Road, Survey No.17, Pune – 411001,
Maharashtra,
India |
|
Tel. No.: |
91-20-66090200/ 243/ 242/ 241/ 251/ 252 |
|
Fax No.: |
91-20-66090290 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. D/27/3/1-MIDC, Lote Parshuram Industrial Area, Tal. Khed, District Ratnagiri - 415722, Maharashtra, India |
|
Telefax : |
91-2356-272474/ 273093 |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Chimanlal Khimchand Mehta |
|
Designation : |
Director |
|
Address : |
Kejriwal House, 7, N. Gamadia
Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
06.04.1932 |
|
Date of Appointment : |
31.03.2007 |
|
DIN No.: |
00028289 |
|
|
|
|
Name : |
Mr. Deepak Chimanlal Mehta |
|
Designation : |
Director |
|
Address : |
Kejriwal House, 7, N. Gamadia
Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1956 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
31.03.2007 |
|
PAN No.: |
AAHPM6688F |
|
DIN No.: |
00028377 |
|
|
|
|
Name : |
Mrs. Ila Deepak Mehta |
|
Designation : |
Director |
|
Address : |
Kejriwal House, 7, N. Gamadia
Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1958 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
15.09.2008 |
|
PAN No.: |
AAFPM0621C |
|
DIN No.: |
00230412 |
|
|
|
|
Name : |
Shripad Prabhakar Gumaste |
|
Designation : |
Director |
|
Address : |
26, Sant Sopandeo Society, Santnagar, Pune – 411009, Maharashtra,
India |
|
Date of Birth/Age : |
24.04.1965 |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
01776483 |
|
|
|
|
Name : |
Mr. Sanjay Bakulchandra Upadhyay |
|
Designation : |
Director |
|
Address : |
B-82, Bhagyalaxmi Society, Near Samta Subhnpura, Vadodara – 390023,
Gujarat, India |
|
Date of Birth/Age : |
20.07.1961 |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
01776546 |
|
|
|
|
Name : |
Anand Bindumadhav Hunoor |
|
Designation : |
Whole-time director |
|
Address : |
B-3, Om Duttaprakash CHS, Sant Namdeo Path Lane, No. 2, Dombivali
(East), Thane – 421201, Maharashtra, India |
|
Date of Birth/Age : |
25.06.1963 |
|
Qualification : |
M. Tech in Chemical Engineering |
|
Date of Appointment : |
15.09.2008 |
|
PAN No.: |
ABHPH2903B |
|
DIN No.: |
01884553 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Deepak Chimanlal Mehta |
|
2415000 |
|
Chimanlal K. Mehta |
|
5000 |
|
Ila Deepak Mehta |
|
2260000 |
|
Maulik Deepak Mehta |
|
10000 |
|
Meghav Deepak Mehta |
|
9800 |
|
Rohit Prabhudas Shah |
|
100 |
|
Deepak Amratlal Desai |
|
100 |
|
Chimanlal K. Mehta and Kantaben C. Mehta |
|
100000 |
|
Shripad Prabhakar Gumaste and Anupama S. Gumaste |
|
100000 |
|
Anand Bindumadhav Hunoor |
|
100000 |
|
|
|
|
|
Total |
|
5000000 |
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Agro Intermediaries, Pharma Intermediaries and Specialty Chemicals. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
-- |
||||||||
|
|
|
||||||||
|
Agencies Held : |
-- |
||||||||
|
|
|
||||||||
|
Exports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
·
Corporation Bank Industrial Finance Branch, 14, Mumbai Pune Road,
Wakdewadi, Pune - 411003, Maharashtra, India ·
Export Import Bank of India Centre One Building, Floor 21, World Trade Centre,
Complex, Cuffee Parade,, Mumbai - 400005, Maharashtra, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. K. Khare and Company Chartered Accountants |
|
Address : |
Hotel Swaroop, Fourth Floor, Lane No 10, Prabhat Road, Erandwane, Pune, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB0265E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Companies Entities over which the Key
Management Personal is able to exercise significant influence : |
Deepak Nitrite Limited [L24110GJ1970PLC001735] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 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 |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
218.311 |
206.706 |
197.151 |
|
(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) |
268.311 |
256.706 |
247.151 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
58.838 |
39.425 |
58.800 |
|
(b) Deferred tax liabilities (Net) |
19.204 |
20.134 |
10.060 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
1.801 |
1.774 |
1.434 |
|
Total
Non-current Liabilities (3) |
79.843 |
61.333 |
70.294 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
212.939 |
178.716 |
215.855 |
|
(b)
Trade payables |
151.357 |
105.127 |
84.840 |
|
(c)
Other current liabilities |
76.362 |
89.467 |
125.181 |
|
(d)
Short-term provisions |
2.401 |
2.428 |
0.470 |
|
Total
Current Liabilities (4) |
443.059 |
375.738 |
426.346 |
|
|
|
|
|
|
TOTAL |
791.213 |
693.777 |
743.791 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
326.103 |
340.176 |
307.859 |
|
(ii)
Intangible Assets |
0.020 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
24.966 |
|
(iv) Intangible assets under development |
7.288 |
4.475 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
4.475 |
4.451 |
3.343 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
337.886 |
349.102 |
336.168 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
203.638 |
146.653 |
217.258 |
|
(c)
Trade receivables |
172.280 |
124.416 |
103.109 |
|
(d)
Cash and cash equivalents |
7.869 |
4.784 |
6.818 |
|
(e)
Short-term loans and advances |
58.824 |
55.618 |
62.887 |
|
(f)
Other current assets |
10.716 |
13.204 |
17.551 |
|
Total
Current Assets |
453.327 |
344.675 |
407.623 |
|
|
|
|
|
|
TOTAL |
791.213 |
693.777 |
743.791 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1028.729 |
878.057 |
897.434 |
|
|
|
Other Income |
1.694 |
0.979 |
1.858 |
|
|
|
TOTAL (A) |
1030.423 |
879.036 |
899.292 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
660.610 |
430.591 |
606.088 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(43.287) |
74.862 |
(50.488) |
|
|
|
Employees benefits expense |
69.239 |
63.568 |
56.080 |
|
|
|
Other expenses |
279.249 |
237.383 |
287.000 |
|
|
|
TOTAL (B) |
965.811 |
806.404 |
898.680 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
64.612 |
72.632 |
0.612 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.694 |
32.986 |
35.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
31.918 |
39.646 |
(35.055) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.243 |
20.017 |
17.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
10.675 |
19.629 |
(52.259) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.930) |
10.074 |
(23.239) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
11.605 |
9.555 |
(29.020) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
166.406 |
156.851 |
185.871 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
178.011 |
166.406 |
156.851 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
618.385 |
220.354 |
271.673 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
393.806 |
213.679 |
421.503 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
2.32 |
1.91 |
(5.80) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
30.625 |
36.250 |
53.300 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(7.817) |
119.375 |
6.254 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.13 |
1.09 |
(3.23) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.28 |
8.27 |
0.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.36 |
2.85 |
(7.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.08 |
(0.21) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.13 |
0.99 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
0.92 |
0.96 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
197.151 |
206.706 |
218.311 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
247.151 |
256.706 |
268.311 |
|
|
|
|
|
|
Long-term borrowings |
58.800 |
39.425 |
58.838 |
|
Short term borrowings |
215.855 |
178.716 |
212.939 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
53.300 |
36.250 |
30.625 |
|
Total
borrowings |
327.955 |
254.391 |
302.402 |
|
Debt/Equity ratio |
1.327 |
0.991 |
1.127 |
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 |
897.434 |
878.057 |
1028.729 |
|
|
|
-2.159 |
17.160 |
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 |
897.434 |
878.057 |
1028.729 |
|
Profit/ (Loss) |
(29.020) |
9.555 |
11.605 |
|
|
(3.23%) |
1.09% |
1.13% |
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 |
-- |
|
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 |
10549062 |
15/05/2015 * |
100,000,000.00 |
EXPORT-IMPORT BANK
OF INDIA |
CENTRE ONE
BUILDING,FLOOR 21, WORLD TRADE CENTRE |
C54987383 |
|
2 |
10439459 |
23/12/2013 * |
50,000,000.00 |
EXPORT-IMPORT BANK
OF INDIA |
CENTRE ONE BUILDING,
FLOOR 21,, WORLD TRADE CENTRE, MUMBAI, MAHARASHTRA - 411005, INDIA |
B93189561 |
|
3 |
10305732 |
16/08/2011 |
150,000,000.00 |
DBS BANK LIMITED |
ELBEE HOUSE, CITY
SURVEY NO. 4/7,SIDDARTH PATH, OFF DHOLE PATIL ROAD, PUNE, MAHARASHTRA - 411001,
INDIA |
B20293197 |
|
4 |
10273893 |
23/11/2011 * |
100,000,000.00 |
EXPORT IMPORT BANK
OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE, |
B26244301 |
|
5 |
10081332 |
24/06/2014 * |
230,000,000.00 |
CORPORATION BANK |
CORPORATE BANKING
BRANCH,, 14, MUMBAI PUNE ROAD, |
C17193814 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
111.154 |
119.603 |
|
|
|
|
|
Total |
111.154 |
119.603 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from Deepak Complex,
National Games Road, Opposite Golf Course, Yerwada, Pune - 411006, Maharashtra,
India to the present address w.e.f.16.07.2012
PERFORMANCE REVIEW:
During the financial year 2013-14, the Company has achieved more that
17% growth in revenue of Rs. 1030.400 Million as compared to Rs. 879.000
Million in the previous year. The earnings before Interest, Tax, Depreciation
and Amortization were Rs. 61.000 Million as compared to Rs. 68.700 Million in
the previous year. Due to volatile and challenging market conditions, product
margin are remained under pressure and it has impact on bottom line.
During the year, Company has earned profit after tax of Rs. 11.600
Million as compared to profit of Rs. 9.600 Million in the previous year.
During the financial year 2013-14, Company has undertaken various
initiatives and corrective actions to improve operational efficiency and
product positioning. These initiatives are expected to yield better margin and
enrich market share during coming financial year.
FINANCE:
During the year, In order to ease the working capital position, the
Company has availed additional term loan of Rs. 50.000 Million from Export
Import Bank of India.
As at year end of 2013-14, total outstanding borrowings of the Company
was Rs. 302.402 Million as compared to Rs. 254.392 Million in the previous
financial year.
CONTINGENT
LIABILITIES (AS ON 31.03.2014):
1) Bank
Guarantees given as surety in favor of various government authorities - Rs.
0.730 Million. (Previous Year Rs. 5.176 Million)
2) Sales Tax
claim of Rs. 0.650 Million disputed and contested by company (Previous Year Rs.
Nil)
3) Rs. 3.529
Million import duty obligation on import against Advance License as on
31.03.2014. (Previous Year – Rs. Nil). The company has subsequently fulfilled
the export obligation against this import duty obligation.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipments
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Bridges roads ports culverts
·
Computer software
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. 66.50 |
|
|
1 |
Rs. 102.00 |
|
Euro |
1 |
Rs. 75.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
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.