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MIRA INFORM REPORT
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Report No. : |
502418 |
|
Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ATOTECH DEVELOPMENT CENTER PRIVATE LIMITED |
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Registered
Office : |
Plot No. 446 G and H, Phase IV, Sector - 8, IMT Manesar, Gurugram
– 122050, Haryana |
|
Tel. No.: |
91-124-2679620 / 621 |
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|
Country : |
India |
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Financials (as
on) : |
31.12.2016 |
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Date of
Incorporation : |
16.10.2015 |
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Com. Reg. No.: |
05-057006 |
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Capital
Investment / Paid-up Capital : |
INR 600.000 Million |
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CIN No.: [Company Identification
No.] |
U73100HR2015FTC057006 |
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|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AANCA8489R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Research and experimental development service in chemistry. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
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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Maximum Credit Limit : |
USD 3900000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a subsidiary of “Atotech B.V.” based in Germany and it was incorporated
during October 2015. As per financials
of December 2016, the company has registered healthy operating income and has
reported decent profit margin. Rating
takes into consideration the company’s healthy financials risk profile along
with zero debt balance sheet and decent liquidity. Rating
also takes into account the strong financial and managerial support received
from its holding entity. However,
rating strength is partially offset by limited track record business
operations. Payments
seems to be usually correct. 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
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
31-03-2018.
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 10.04.2018
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 DENIED
Management Non-Cooperative (91-124-2679620
/ 2679621)
LOCATIONS
|
Registered Office : |
Plot No. 446 G and H, Phase IV, Sector - 8, IMT Manesar, Gurugram
– 122050, Haryana,
India |
|
Tel. No.: |
91-124-2679620 / 2679621 91-1274-267190-91 |
|
Fax No.: |
91-1274-267189 |
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E-Mail : |
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|
Website : |
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|
Corporate Office : |
546, Fifth Floor, JMD Megapolis, Sector 48, Sohna Road,
Gurugram – 122018, |
|
Tel. No.: |
91-124-4027634 / 4027813 |
|
|
|
|
Research and development center : |
111 and 112, Phase – IV, Bommasandra Industrial Area,
Bangalore – 560099, |
|
Tel. No.: |
91-8110-419000 |
|
Fax No.: |
91-8110-419020 |
DIRECTORS
AS ON 2018
|
Name : |
Mr. Gregor Frank |
|
Designation : |
Director |
|
Address : |
Bochumer Strasse 25, 10555 Berlin 10555 De,
Germany |
|
Date of Appointment : |
21.10.2015 |
|
DIN No.: |
00325610 |
|
|
|
|
Name : |
Mr. Aditya Kumar Joshi |
|
Designation : |
Director |
|
Address : |
212, Shakuntlam CGHS, Plot No. 16 Sector
10, Dwarka, New Delhi – 110075, India |
|
Date of Appointment : |
21.10.2015 |
|
DIN No.: |
07315306 |
|
|
|
|
Name : |
Mr. Andreas Kartaun |
|
Designation : |
Director |
|
Address : |
Sybelster. 5 10629 Berlin Berlin 10553 De, Germany |
|
Date of Appointment : |
02.12.2015 |
|
DIN No.: |
07340730 |
|
|
|
|
Name : |
Mr. Uwe Heinrich Richard Hauf |
|
Designation : |
Director |
|
Address : |
Zum, Schloss-9 Wendelstein Germany 90530
De, Germany |
|
Date of Appointment : |
04.03.2016 |
|
DIN No.: |
07457056 |
KEY EXECUTIVES
|
Name : |
Mr. Abhishek Aditya |
|
Designation : |
Company Secretary |
|
Address : |
212, Shakuntlam CGHS, Plot No. 16 Sector
10, Dwarka, New Delhi – 110075, India |
|
Date of Appointment : |
21.10.2015 |
|
PAN No.: |
AMAPA3522F |
MAJOR SHAREHOLDERS
AS ON 31.12.2016
|
Names of Shareholders |
No. of Shares |
|
Atotech B. V. |
59999999 |
|
Desh Ranjan Basak (Nominee of Atotech B.V.) |
1 |
|
|
|
|
Total |
60000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.06.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Research and experimental development service in chemistry. [Registered Activity] |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
Building No.10, 8th Floor, Tower-B, DLF Cyber City, Phase-II, Gurugram – 122002, Haryana, India |
|
PAN No.: |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate
Holding Company : |
· Total S.A., France |
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Holding
company : |
· Atotech B.V., Netherlands |
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Fellow
Subsidiary Company : |
· Atotech (China) Chemicals Limited, China · Atotech (Malaysia) Sdn. Bhd., Malaysia · Atotech Deutschland Gmbh, Germany · Atotech India Private Limited, India · Atotech Slovenija D.D., Slovenia |
CAPITAL STRUCTURE
AFTER 30.06.2017
Authorised Capital : INR 900.000 Million
Issued, Subscribed & Paid-up Capital : INR 880.000
Million
AS ON 30.06.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
INR 10/- each |
INR 800.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
INR 10/- each |
INR 600.000 Million |
|
|
|
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|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.12.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
|
|
600.000 |
|
(b) Reserves & Surplus |
|
|
764.615 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
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(2) Share Application money pending
allotment |
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|
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
1364.615 |
|
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(3)
Non-Current Liabilities |
|
|
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(a) Long-term borrowings |
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|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
4.833 |
|
(c) Other long term
liabilities |
|
|
15.473 |
|
(d) Long-term
provisions |
|
|
1.080 |
|
Total Non-current
Liabilities (3) |
|
|
21.386 |
|
|
|
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(4)
Current Liabilities |
|
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|
(a) Short
term borrowings |
|
|
0.000 |
|
(b) Trade
payables |
|
|
24.287 |
|
(c) Other
current liabilities |
|
|
214.503 |
|
(d) Short-term
provisions |
|
|
5.566 |
|
Total Current
Liabilities (4) |
|
|
244.356 |
|
|
|
|
|
|
TOTAL |
|
|
1630.357 |
|
|
|
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|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
|
583.087 |
|
(ii)
Intangible Assets |
|
|
4.368 |
|
(iii)
Capital work-in-progress |
|
|
613.156 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d)
Long-term Loan and Advances |
|
|
171.792 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
1372.403 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
0.000 |
|
(c) Trade
receivables |
|
|
0.000 |
|
(d) Cash
and cash equivalents |
|
|
244.171 |
|
(e)
Short-term loans and advances |
|
|
13.590 |
|
(f) Other
current assets |
|
|
0.193 |
|
Total
Current Assets |
|
|
257.954 |
|
|
|
|
|
|
TOTAL |
|
|
1630.357 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.12.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
|
146.678 |
|
|
Other Income |
|
|
13.039 |
|
|
TOTAL |
|
|
159.717 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
|
|
58.257 |
|
|
Other expenses |
|
|
60.755 |
|
|
TOTAL |
|
|
119.012 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
40.705 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
40.705 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
14.857 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
25.848 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
11.233 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
14.615 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
|
146.678 |
|
|
TOTAL EARNINGS |
|
|
146.678 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
|
|
5.978 |
|
|
Capital Goods |
|
|
58.732 |
|
|
TOTAL IMPORTS |
|
|
64.709 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
0.43 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
31.12.2016 |
|
Current Maturities of Long term debt |
|
|
0.000 |
|
Cash generated from operations |
|
|
NA |
|
Net cash flows from (used in) operations |
|
|
95.879 |
|
Net cash flows from (used in) operating activities |
|
|
67.537 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.12.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
|
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
0.03 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.12.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
0.15 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
0.18 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.88 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.12.2016 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
|
|
9.96 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
0.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
1.07 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.12.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
1.06 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.84 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.06 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
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 |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
Yes |
|
26 |
Turnover of firm for last one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year |
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 |
NOTE: Registered office
of the company has been shifted from 66 KM Stone, N. H. – 8, Delhi - Jaipur Highway, Village Sidhrawali,
Gurugram – 123413, Haryana, India to the present address w.e.f. 25.09.2017.
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
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 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 64.99 |
|
|
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
NKT |
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.