|
|
|
MIRA INFORM REPORT
|
Report No. : |
501462 |
|
Report Date : |
04.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
EVONIK INDIA PRIVATE LIMITED (w.e.f. 15.05.2013) |
|
|
|
|
Formerly Known
As : |
EVONIK DEGUSSA INDIA PRIVATE LIMITED (w.e.f. 24.10.2007) DEGUSSA INDIA PRIVATE LIMITED (w.e.f. 14.02.2001) DEGUSSA-HULS INDIA PRIVATE LIMITED (w.e.f. 11.05.1999) HULS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Krislon House, Saki Vihar Road, Saki Naka Andheri (East), Mumbai – 400072, Maharashtra |
|
Tel. No.: |
91-22-67238800 / 66916993 / 67238835 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
02.03.1998 |
|
|
|
|
Com. Reg. No.: |
11-113786 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 18.798 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1998PTC113786 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
TIN No.: |
27650663507 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH3690Q |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACH3690Q1Z0 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
|
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Evonik India Private Limited is a wholly owned subsidiary of “Evonik Degussa Gmbh”, Germany”. The company was incorporated in the year 1998. It is a Manufacturer and Trader of Specialty Chemicals for Healthcare, Animal Feed, Automotive Paints and Coatings, Construction etc. Importer of raw Material. Management has filed to file its financial with Registrar of Companies for the FY 2017. As per the available financial of 2016, the revenue of the company has increased by 19.69% along with low profit margin of 0.92%. The sound financial profile of the company is marked by adequate networth base along with strong debt coverage indicators due to low debt balance sheet profile. Rating takes into consideration strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. Rating also derives strength from company’s established track record of business. However, rating is constrained on account of absence of latest financials. Business is active. Payment terms are reported to be regular. In view of aforesaid, 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 04.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Ms. Sangvi |
|
Designation : |
Admin Department Executive |
|
Contact No.: |
91-22-6723880 |
|
Date : |
03.04.2018 |
|
|
|
|
Name : |
Mr. Prathmesh |
|
Designation : |
Business Development Manager |
|
Contact No.: |
91-9619117873 |
|
Date : |
03.04.2018 |
LOCATIONS
|
Registered Office / Factory / Warehouse : |
1st Floor, Krislon House, Saki Vihar Road, Saki Naka Andheri (East), Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-67238800 / 66916993 / 67238835 |
|
Mobile No.: |
91-9492029251 (Mr. Padmanabh) 91-9619117873 (Mr. Prathmesh) |
|
Fax No.: |
91-22-67238811 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Dr. Johannes Ernst Konrad Ohmer |
|
Designation : |
Director |
|
Address : |
2. Alfers Lars. Wingertstr. 37, 63584 Gründau, Rothenbergen. |
|
Date of Birth/Age : |
26.07.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
08.12.2015 |
|
DIN No.: |
07279037 |
|
|
|
|
Name : |
Mr. Jan Louis Mathilde Van Den Bergh |
|
Designation : |
Director |
|
Address : |
Bergeneindsepad, 5 Vosselaar 2350 Bergeneindsepad |
|
Date of Birth/Age : |
30.04.1956 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
08.12.2015 |
|
DIN No.: |
07355174 |
|
|
|
|
Name : |
Mr. Pradeep Tukaram Phatak |
|
Designation : |
Managing Director |
|
Address : |
303 Apollo Raheja Acropolis, Deonar Pada Road, Behind Telecom Factory, Deonar, Mumbai – 400088, Maharashtra, India |
|
Date of Appointment : |
15.07.2017 |
|
DIN No.: |
07879540 |
|
|
|
|
Name : |
Mr. Peter Hans Meinshausen |
|
Designation : |
Additional Director |
|
Address : |
23 Claymore Road #23-03 Singapore 229546 |
|
Date of Appointment : |
23.11.2017 |
|
DIN No.: |
07997168 |
|
|
|
|
Name : |
Mr. Sanjeev Taneja |
|
Designation : |
Managing Director |
|
Address : |
Lakeside Chalet - Marriot Executive Apartments, #2 and 3B, Near Chinmayanand Ashram, Powai, Mumbai – 400087, India |
|
Date of Appointment : |
19.01.2018 |
|
DIN No.: |
08055630 |
KEY EXECUTIVES
|
Name : |
Mr. Venkatesh Parasuram |
|
Designation : |
Company Secretary |
|
Address : |
A 403, Victory House, MMC Road, Cross Road 2, Mahim, Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1969 |
|
Date of Appointment : |
01.10.1999 |
|
PAN No.: |
ABGPP8543G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Evonik Degussa GMBH, Germany |
|
1879810 |
|
Evonik (SEA) Pte Limited |
|
3 |
|
|
|
|
|
Total |
|
1879813 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
|
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Divulged |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
Not Available |
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
Raw Material |
||||||
|
Countries : |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Advance Payment, Cheque, NEFT, RTGS |
||||||
|
|
|
||||||
|
Purchasing : |
Advance Payment, Cheque, NEFT, RTGS |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors 1 : |
|
|
Name : |
Pujare Vinayak Shriram Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9117R |
|
|
|
|
Auditors 2 : |
|
|
Name : |
S R B C and Co. LLP |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg,
Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
|
|
|
|
|
Ultimate Holding
Company: |
|
|
|
|
|
Fellow Subsidiary
Company: |
U24110MH1983PTC031365
|
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1879813 |
Equity Shares |
INR 10/- each |
INR 18.798
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
18.798 |
18.798 |
18.798 |
|
(b) Reserves and Surplus |
974.462 |
933.897 |
631.051 |
|
(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) |
993.260 |
952.695 |
649.849 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
12.954 |
10.337 |
7.246 |
|
Total Non-current
Liabilities (3) |
12.954 |
10.337 |
7.246 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
50.579 |
0.000 |
0.000 |
|
(b) Trade
payables |
895.928 |
584.164 |
342.085 |
|
(c) Other
current liabilities |
126.390 |
109.289 |
94.170 |
|
(d) Short-term
provisions |
11.005 |
7.529 |
33.569 |
|
Total Current
Liabilities (4) |
1083.902 |
700.982 |
469.824 |
|
|
|
|
|
|
TOTAL |
2090.116 |
1664.014 |
1126.919 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
99.902 |
69.753 |
67.739 |
|
(ii)
Intangible Assets |
0.390 |
0.206 |
0.314 |
|
(iii) Tangible assets capital
work-in-progress |
20.329 |
8.290 |
6.578 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
72.096 |
68.649 |
41.569 |
|
(d)
Long-term loans and advances |
152.366 |
95.518 |
39.034 |
|
(e) Other
Non-current assets |
0.191 |
0.191 |
0.191 |
|
Total Non-Current
Assets |
345.274 |
242.607 |
155.425 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
700.239 |
430.613 |
224.158 |
|
(c) Trade
receivables |
757.161 |
623.727 |
521.354 |
|
(d) Cash and
bank balances |
52.429 |
312.753 |
169.996 |
|
(e)
Short-term loans and advances |
231.665 |
52.720 |
54.299 |
|
(f) Other current
assets |
3.348 |
1.594 |
1.687 |
|
Total
Current Assets |
1744.842 |
1421.407 |
971.494 |
|
|
|
|
|
|
TOTAL |
2090.116 |
1664.014 |
1126.919 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4401.843 |
3677.582 |
3068.893 |
|
|
Other Income |
44.963 |
14.530 |
34.844 |
|
|
TOTAL |
4446.806 |
3692.112 |
3103.737 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
3885.483 |
2725.524 |
2426.771 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(269.626) |
(206.456) |
(120.056) |
|
|
Employee benefit expense |
296.673 |
244.887 |
219.082 |
|
|
CSR expenditure |
0.400 |
0.000 |
0.000 |
|
|
Other expenses |
430.889 |
425.070 |
301.550 |
|
|
TOTAL |
4343.819 |
3189.025 |
2827.347 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
102.987 |
503.087 |
276.390 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.336 |
1.688 |
1.501 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
97.651 |
501.399 |
274.889 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
36.533 |
25.567 |
22.922 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
61.118 |
475.832 |
251.967 |
|
|
|
|
|
|
|
Less |
TAX |
20.553 |
172.987 |
84.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
40.565 |
302.845 |
167.067 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
630.178 |
601.272 |
649.649 |
|
|
TOTAL EARNINGS |
630.178 |
601.272 |
649.649 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3151.853 |
2069.008 |
1675.867 |
|
|
Capital Goods |
6.749 |
7.864 |
6.618 |
|
|
TOTAL IMPORTS |
3158.602 |
2076.873 |
1682.486 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
21.58 |
161.100 |
88.87 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
(158.058) |
417.504 |
171.448 |
|
Net cash flows from (used in) operating activities |
(227.463) |
171.404 |
87.502 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
62.78 |
61.90 |
62.01 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
5.81 |
5.90 |
5.89 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors / Purchases * 365] |
|
84.16 |
78.23 |
51.45 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income / Inventories] |
|
0.15 |
1.17 |
1.23 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed Assets] |
|
0.85 |
6.43 |
3.70 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.52 |
0.42 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.05 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / NetWorth) |
|
1.09 |
0.74 |
0.72 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets / NetWorth) |
|
0.12 |
0.08 |
0.11 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial Charges] |
|
19.30 |
298.04 |
184.14 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.92 |
8.23 |
5.44 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets) * 100] |
(%) |
1.94 |
18.20 |
14.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth) * 100] |
(%) |
4.08 |
31.79 |
25.71 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.61 |
2.03 |
2.07 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) / Current
Liabilities] |
|
0.96 |
1.41 |
1.59 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total Assets] |
|
0.48 |
0.57 |
0.58 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
2.69 |
0.00 |
0.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets / Total Current
Liabilities] |
|
1.61 |
2.03 |
2.07 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are in
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
18.798 |
18.798 |
18.798 |
|
Reserves & Surplus |
631.051 |
933.897 |
974.462 |
|
Net
worth |
649.849 |
952.695 |
993.260 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
50.579 |
|
Total
borrowings |
0.000 |
0.000 |
50.579 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.051 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3068.893 |
3677.582 |
4401.843 |
|
|
0.000 |
19.834 |
19.694 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3068.893 |
3677.582 |
4401.843 |
|
Profit/ (Loss) |
167.067 |
302.845 |
40.565 |
|
|
5.44
% |
8.23
% |
0.92
% |
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 |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF BUSINESS OPERATIONS
AND FUTURE PROSPECTS
Evonik India Private Limited (EPL) has endeavoured to meet its targets during the year to the best of its abilities and in the light of the challenging business environment. EPL continues its exercise in ascertaining areas, for improvement and formulation of suitable corrective action.
EPL continues with the Trading activity for an Imported Evonik Product, with the addition of products besides PMMA Moulding Compounds, D L Methionine. Warehouse locations have been established in the different regions ofIndia to cater to customers over there. The Company has continued to also sell locally produced Catalysts. Meanwhile you company is considering further expanding its trading activities by covering additional products. EPL has been able to successfully negotiate the Support Service Agreements with effect from January 1, 2016.
The company has established and maintains a committee under and as per the stipulation laid out under The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, no complaints reported so far. The Company has in place adequate internal financial controls and checks.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
50.579 |
0.000 |
|
|
|
|
|
Total |
50.579 |
0.000 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
22.754 |
22.754 |
|
Guarantees |
0.100 |
0.100 |
|
Total |
22.854 |
22.854 |
FIXED ASSETS
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.46 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.