|
|
|
MIRA INFORM REPORT
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Report No. : |
501767 |
|
Report Date : |
04.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SHRIRAM AXIALL PRIVATE LIMITED (w.e.f. 16.05.2014) |
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|
|
|
Formerly Known
As : |
SHRIRAM
VINYL POLYTECH PRIVATE LIMITED (w.e.f. 24.07.2013) SHRIRAM
VINYL POLYTECH LIMITED (w.e.f. 22.03.2013) SBM
YARN LIMITED |
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Registered
Office : |
5th Floor, Kanchenjunga Building, 18,
Barakhamba Road, New Delhi – 110001 |
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Tel. No.: |
91-11-23316801 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
18.12.2008 |
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Com. Reg. No.: |
55-185967 |
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Capital
Investment / Paid-up Capital : |
INR 34.650 Million |
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CIN No.: [Company Identification
No.] |
U74120DL2008PTC185967 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS49971F |
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|
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PAN No.: [Permanent Account No.] |
AAMCS7912E |
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GSTN : [Goods & Service Tax
Registration No.] |
07AAMCS7912E2Z6 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
The company is in the business of Trading, Manufacturing, Export and Sale of Polyvinyl Chloride (PVC) compound. [Registered activity and also confirmed by management] |
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No. of Employees
: |
72 (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture between DCM Shriram Limited, India and
Axiall LLC, United States. It is an established company incorporated in the
year 2008 having fine track. As per Registrar of Companies the date of balance sheet (i. e.
financial filed) is shown as 31.03.2017 but the documents related to the
financial for the year 2017 are not available from any sources. As per available financial of 2016, the company has witnessed a growth
in its revenue and has achieved profit margin at 0.89% (approximately). The company possesses sound financial profile marked by healthy
networth base along with negligible debt recorded and favorable gap between
trade payables to its trade receivables. The company also derives strength from its joint venture entities and
its experienced management team. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitments. In view of the 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 : |
Mr. Sanjay Dimri |
|
Designation : |
Marketing Head |
|
Contact No.: |
91-8898089015 |
LOCATIONS
|
Registered Office : |
5th Floor, Kanchenjunga Building, 18,
Barakhamba Road, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23316801 |
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Mobile No.: |
91-8898089015 (Mr. Sanjay) |
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Fax No.: |
91-11-23318072 |
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E-Mail : |
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Website : |
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Corporate / Head Office : |
Plot No. 52, 2nd Floor, Sector 32, Institutional Area, Gurugram – 122003, Haryana, India |
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Tel. No.: |
91-124-4632113 / 4632100 |
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Fax No.: |
91-124-4632199 |
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E-Mail : |
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Factory : |
DCM Shriram Limited, Kota
Shriram Nagar, Kota – 324004, Rajasthan, India |
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Tel. No.: |
91-744-2480011-17 / 2480991 |
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Fax No.: |
91-744-2481891 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rajiv Sinha |
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Designation : |
Additional director |
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Address : |
A-14/14, Ground Floor, Vasant Vihar, New Delhi – 110057, India |
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Date of Birth/Age : |
05.06.1950 |
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Date of Appointment : |
28.03.2014 |
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PAN No.: |
AJYPS6623A |
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DIN No.: |
00027302 |
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Other Directorship:
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Name : |
Mr. Jitendra Kumar Jain |
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Designation : |
Director |
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Address : |
424 Sector XV-A, Noida – 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
01.05.1956 |
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Date of Appointment : |
28.03.2014 |
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PAN No.: |
AALPJ6440Q |
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DIN No.: |
01140631 |
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Other Directorship:
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Name : |
Mr. Thomas Johannes Maria Janssens |
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Designation : |
Additional Director |
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Address : |
6709 Edloe St, Houston, TX 77005, United States of America |
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Date of Appointment : |
15.09.2017 |
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DIN No.: |
07286929 |
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Name : |
Mr. Mark Steven Bender |
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Designation : |
Additional Director |
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Address : |
18 Willowend Drive Houston Texas 77024, United States of America |
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Date of Appointment : |
26.04.2017 |
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DIN No.: |
07794012 |
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Name : |
Renee Marie Havrilla |
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Designation : |
Additional Director |
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Address : |
30 Pawprint Place the Woodlands Texas Texas 77382, United States
of America |
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Date of Appointment : |
05.09.2017 |
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DIN No.: |
07929339 |
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Name : |
Krishan Kumar Sharma |
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Designation : |
Additional Director |
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Address : |
Flat No. 806, Tower 3, Purvanchal Royal Park Sector-137, Noida Gautam Budh Nagar – 201301, Uttar Pradesh, India |
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Date of Appointment : |
10.11.2017 |
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DIN No.: |
07951296 |
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KEY EXECUTIVES
|
Name : |
Mr. Vivek Audichya |
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Designation : |
Company Secretary |
|
Address : |
89, Technocrat Society Behind Vijay Complex Bedla Road,
Badgaon, Udaipur – 313011, Rajasthan, India |
|
Date of Appointment : |
28.01.2015 |
|
PAN No.: |
AIQPA2592P |
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|
|
|
Name : |
Mr. Sanjay Dimri |
|
Designation : |
Marketing Head |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
DCM Shriram Limited, India |
1732500 |
50.00 |
|
Axiall LLC, United States of America |
1732500 |
50.00 |
|
Total |
3465000 |
100.00 |
Equity Share Break up (Percentage of Total
Equity)
As on 10.08.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is in the business of Trading, Manufacturing, Export and Sale of Polyvinyl Chloride (PVC) compound. [Registered activity and also confirmed by management] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
·
Finished Goods |
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Countries : |
·
United Arab Emirates |
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Imports : |
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Products : |
·
Raw Material |
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Countries : |
·
Thailand ·
Indonesia ·
Japan ·
United States of America |
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Terms : |
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Selling : |
L/C, Cheque, Credit (30, 60, 90 Days) |
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Purchasing : |
L/C, Cheque, Credit (30, 60, 90 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
72 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Price Waterhouse and Company LLP Chartered Accountants |
|
Address : |
Building No.8, 7th and 8th Floor Tower B, DLF Cyber City, Gurugram-122002, Haryana, India |
|
PAN No.: |
AAFFP3698A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Joint venture : |
· DCM Shriram Limited, India L74899DL1989PLC034923 ·
Axiall LLC, United States of America |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
INR 10/- each |
INR 35.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3465000 |
Equity Shares |
INR 10/- each |
INR 34.650 Million |
FINANCIAL DATA
[all figures are
in INR 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 |
34.650 |
34.650 |
17.300 |
|
(b) Reserves and Surplus |
366.100 |
353.400 |
29.100 |
|
(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) |
400.750 |
388.050 |
46.400 |
|
|
|
|
|
|
(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 |
36.000 |
33.800 |
30.600 |
|
Total Non-current
Liabilities (3) |
36.000 |
33.800 |
30.600 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
48.700 |
188.400 |
295.000 |
|
(b) Trade
payables |
132.100 |
174.900 |
60.300 |
|
(c) Other
current liabilities |
15.900 |
12.900 |
8.400 |
|
(d) Short-term
provisions |
8.000 |
5.500 |
1.800 |
|
Total Current
Liabilities (4) |
204.700 |
381.700 |
365.500 |
|
|
|
|
|
|
TOTAL |
641.450 |
803.550 |
442.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
157.400 |
158.200 |
108.100 |
|
(ii)
Intangible Assets |
0.400 |
0.600 |
0.800 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
7.700 |
1.400 |
|
(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) |
8.100 |
9.600 |
7.200 |
|
(d)
Long-term loans and advances |
5.100 |
2.000 |
2.100 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
171.000 |
178.100 |
119.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
32.800 |
|
(b)
Inventories |
183.100 |
224.100 |
67.200 |
|
(c) Trade
receivables |
227.050 |
310.950 |
177.900 |
|
(d) Cash
and bank balances |
23.400 |
40.400 |
23.500 |
|
(e) Short-term
loans and advances |
36.900 |
50.000 |
21.500 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
470.450 |
625.450 |
322.900 |
|
|
|
|
|
|
TOTAL |
641.450 |
803.550 |
442.500 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1419.000 |
1293.500 |
909.500 |
|
|
Other Income |
9.800 |
4.100 |
5.600 |
|
|
TOTAL |
1428.800 |
1297.600 |
915.100 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
757.600 |
764.600 |
720.200 |
|
|
Purchases of
Stock-in-Trade |
349.000 |
396.900 |
8.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
51.700 |
(75.300) |
3.100 |
|
|
Employee benefit expense |
88.200 |
76.100 |
66.100 |
|
|
Other expenses |
145.600 |
117.900 |
103.400 |
|
|
TOTAL |
1392.100 |
1280.200 |
900.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
36.700 |
17.400 |
14.300 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.900 |
4.200 |
1.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.800 |
13.200 |
13.200 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
14.800 |
20.400 |
13.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
19.000 |
(7.200) |
0.100 |
|
|
|
|
|
|
|
Less |
TAX |
6.300 |
(2.400) |
(4.500) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
12.700 |
(4.800) |
4.600 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
59.400 |
0.200 |
0.000 |
|
|
TOTAL EARNINGS |
59.400 |
0.200 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
91.800 |
149.300 |
0.000 |
|
|
Traded Goods |
311.700 |
317.500 |
0.000 |
|
|
Stores, Spare Parts and Packing Materials |
18.700 |
23.300 |
0.000 |
|
|
Capital Goods |
1.300 |
3.900 |
0.000 |
|
|
TOTAL
IMPORTS |
423.500 |
494.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.67 |
(1.40) |
2.62 |
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
1450.000 |
|
|
|
|
|
Expected Sales (2017-2018) : INR 1550.000 Million
The above information has been parted by Mr. Sanjay Dimri (Marketing
Head - Sales)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
125.800 |
(169.900) |
36.500 |
|
Net cash flows from (used in) operating activities |
124.500 |
(176.000) |
29.700 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
58.40 |
87.74 |
71.39 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.25 |
4.16 |
5.11 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
43.57 |
54.96 |
30.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.20 |
0.08 |
0.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.23 |
0.10 |
0.13 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.32 |
0.48 |
0.83 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.12 |
0.49 |
6.36 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.51 |
0.98 |
7.88 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.39 |
0.43 |
2.38 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
12.66 |
4.14 |
13.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
0.89 |
(0.37) |
0.51 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.98 |
(0.60) |
1.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.17 |
(1.24) |
9.91 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.30 |
1.64 |
0.88 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.40 |
1.05 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.62 |
0.48 |
0.10 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.41 |
5.44 |
17.05 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.30 |
1.64 |
0.88 |
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 |
17.300 |
34.650 |
34.650 |
|
Reserves & Surplus |
29.100 |
353.400 |
366.100 |
|
Net worth |
46.400 |
388.050 |
400.750 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
295.000 |
188.400 |
48.700 |
|
Total
borrowings |
295.000 |
188.400 |
48.700 |
|
Debt/Equity
ratio |
6.358 |
0.486 |
0.122 |
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
|
909.500 |
1293.500 |
1419.000 |
|
|
|
42.221 |
9.702 |
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
|
909.500 |
1293.500 |
1419.000 |
|
Profit/(Loss) |
4.600 |
(4.800) |
12.700 |
|
|
0.51% |
(0.37%) |
0.89% |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION ABOUT COMPANY
Shriram Axiall Private Limited (Formerly known as Shriram Vinyl Polytech Private Limited) (The Company) was incorporated as SBM Yarn Limited on December 18, 2008. The Company under a slump sale contract had purchased PVC compounds business unit of DCM Shriram Limited (Formerly known as DCM Shriram Consolidated Limited) with effect from March 16, 2013. The Company is in the business of trading, manufacturing and sale of Polyvinyl Chloride (PVC) compound.
During the year ended March 31, 2015, the Company had issued 1.732,500 equity shares to M/s Axiall LLC on April 10, 2014 of INR 346.500 million (including share premium of INR 329.200 million). Accordingly, the Company had become Joint Venture of DCM Shriram Limited (formerly known as DCM Shriram Consolidated Limited) and Axiall LLC. The name of the Company has changed to Shriram Axiall Private Limited from Shriram Vinyl Polytech Private Limited with effect from May 16, 2014. Derivative instruments and unhedged foreign currency exposure
The Directors have pleasure in presenting the 8th Annual Report of the Company along with Audited Accounts for the year ended 31st March 2016.
MACRO-ECONOMIC
AND COMPANYS PERFORMANCE OVERVIEW
During the year the GDP growth had improved and was expected to be at 7.5%. Favourable cost of capital improved demand growth and prudent actions by the Central bank also helped to achieve improved inflation numbers.
This resulted in better prospects for Industry and in particular automobile, wire and cables and appliances leading to improved sale in the PVC compound industry.
However the business posted a growth of 16% in the overall Quantity over last year. The wire and cable segment had growth of 19%, automotive segment had a growth of 10%, and The Company has also expanded its geographical reach in UAE and Egypt along with better penetration in west and south and would continue to endeavour to build volumes in these territories in the coming year.
The company is making efforts to build technical capability and has already deputed three persons in the last year for long term technical training at Axiall's technical centre at Madison MS. Plans are in place to send more employees during this year to increase understanding of modern technology and equipment in order to build capability and improve speed of technology absorption.
OPERATIONS
The Company’s total revenues during the year were accounted at INR 1428.800 Million on account of growth in the business. During the year the Company’s export revenue was INR 59.400 Million (previous year INR 0.200 Million). The Company plans to expand its reach through exports to the regions of GCC, SAARC and African countries. The Company is exploring new avenues of market segments which would be mainly Engineered Vinyl Products.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C80308141 |
10454455 |
HDFC BANK LIMITED |
26/09/2013 |
03/02/2016 |
- |
500000000.0 |
'HDFC BANK HOUSE', SENAPATI BAPAT MARGLOWER PAREL-(WEST), MUMBAI MH400013IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.46 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
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.