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MIRA INFORM REPORT
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Report No. : |
503308 |
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Report Date : |
12.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRIVI ORGANICS INDIA LIMITED (w.e.f. 15.03.2017) |
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Formerly Known
As : |
ADI AROMATIC LIMITED |
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Registered
Office : |
Privi House, A-71, TTC Thane Belapur Road, Near Kopar Khairane Railway Station, Navi Mumbai - 400709, Maharashtra |
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Tel. No.: |
91-22-27783040 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
08.07.2016 |
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Com. Reg. No.: |
11-283393 |
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Capital
Investment / Paid-up Capital : |
INR 0.100 Million |
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CIN No.: [Company Identification
No.] |
U24220MH2016PLC283393 |
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IEC No.: [Import-Export
Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAOCA5466H1ZA |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAOCA5466H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the
business of Manufacturing, Exporting and Supplying the Aroma Chemicals. [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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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2016. It is engaged in manufacturing,
exporting and supplying of aroma chemicals. For the financial year 2017, the company achieved decent revenue from
its operations along with an average profit margin of 3.75%. The satisfactory financial profile of the company is marked by sufficient
net worth base along with negligible debt balance sheet profile. Rating is constrained on account of limited business track record. Payment seems to be slow but 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.
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 12.04.2018
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 BY
|
Name : |
Not Divulged |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22- 27783040 |
|
Date : |
12.04.2018 |
LOCATIONS
|
Registered Office
and Knowledge Centre |
Privi House, A-71, TTC Thane Belapur Road, Near Kopar Khairane Railway Station, Navi Mumbai - 400709, Maharashtra, India |
|
Tel. No.: |
91-22- 27783040 / 27783041 / 27783045 |
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Fax. No: |
91-22-27783049 / 66023636 |
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E-Mail : |
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Website: |
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Factory: |
A-7, M.I.D.C., Mahad, District Raigad – 402 309, Maharashtra, India |
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Tel. No.: |
91-2145-232122 |
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Fax. No: |
91-2145-233494 |
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Factory: |
C-4 & 5, M.I.D.C., Mahad, District Raigad – 402 309, Maharashtra, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Nahoosh Jayvadan Jariwala |
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Designation : |
Director |
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Address : |
Jariwala, Behind Shashwat Bunglows, Rajpath Club, Rangoli Road, Boda Dev, Ahmedabad -380059, Gujarat, India |
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Date of Birth/Age : |
21.08.1964 |
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Date of Appointment : |
08.07.2016 |
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PAN No.: |
ACZPJ5445M |
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DIN No.: |
00012412 |
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Name : |
Mr. Mahesh Purshottam Babani |
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Designation : |
Managing Director |
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Address : |
7/8, Satguru House, Sherly Rajan Road, Bandra (West) Mumbai-400050, Maharashtra, India |
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Date of Birth/Age : |
01.04.1957 |
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Qualification: |
B.Com |
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Date of Appointment : |
22.02.2017 |
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DIN No.: |
00051162 |
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Name : |
Mr. Bhaktavatsala Rao Doppalapudi |
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Designation : |
Wholetime Director |
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Address : |
903, Daffodil Satguru Garden, Thane-400602, Maharashtra, India |
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Date of Birth/Age : |
10.05.1946 |
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Qualification: |
M.E |
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Date of Appointment : |
22.02.2017 |
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DIN No.: |
00356218 |
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Name : |
Anurag Surana |
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Designation : |
Director |
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Address : |
222-D, Block - H, Pushpa Bhawan Sainik Farms, New Delhi- 110062, India |
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Date of Appointment : |
04.05.2017 |
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DIN No.: |
00006665 |
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Name : |
Padmanabh Ramchandra Barpande |
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Designation : |
Director |
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Address : |
A-804 Royal Court Swami Nityanand Marg, Next To Vijaynagar Society, Andheri East, Mumbai -400069, Maharashtra, India |
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Date of Appointment : |
04.05.2017 |
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DIN No.: |
00016214 |
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Name : |
Rajesh Harichandra Budhrani |
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Designation : |
Director |
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Address : |
12 Cuscaden Walk #21-02 Four Seasons Pk Singapore 249694 |
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Date of Appointment : |
04.05.2017 |
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DIN No.: |
01284426 |
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Name : |
Harsha Raghavan |
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Designation : |
Director |
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Address : |
Flat No. 2, 1st Floor, Shree Sadan, M.L. Dahanukar Marg. Mumbai -400026, Maharashtra, India |
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Date of Appointment : |
04.05.2017 |
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DIN No.: |
01761512 |
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Name : |
Dwarko Topandas Khilnani |
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Designation : |
Director |
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Address : |
6/21, Borla Soct, Dr. C. G. Rd, Chembur, Mumbai 400074, Maharashtra, India |
|
Date of Appointment : |
04.05.2017 |
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DIN No.: |
01824655 |
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|
|
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Name : |
Anuradha Eknath Thakur |
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Designation : |
Director |
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Address : |
B-7 3rd Floor, Bageshree Shankar Ghanekar Mrg Prabhadevi, Mumbai -400025, Maharashtra, India |
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Date of Appointment : |
04.05.2017 |
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DIN No.: |
06702919 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Vishanlal Kathuria |
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Designation : |
Company Secretary |
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Address : |
Aspen 'A' - 601, Aspen Ascot Chs Limited
Raheja Gardens, LBS Marg. Thane -400604, Maharashtra, India |
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Date of Appointment : |
01.04.2017 |
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PAN No.: |
AFRPK9121J |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Fairchem Speciality Limited (formerly known as Adi Finechem Limited) |
|
9994 |
|
Utkarsh Shah * |
|
1 |
|
Radhika Shah* |
|
1 |
|
Aadarsh Shah * |
|
1 |
|
Sandhya Jariwala * |
|
1 |
|
Priyanshi Jariwala * |
|
1 |
|
Rajan Jhaveri* |
|
1 |
|
Total |
|
10000 |
* Holding the shares of behalf of Fairchem Speciality Limited (formerly known as Adi Finechem Limited)
Equity Share Break up (Percentage of Total Equity)
AS ON 11.08.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
0.06 |
|
Promoters- Body corporate |
99.94 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the
business of Manufacturing, Exporting and Supplying the Aroma Chemicals. [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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Facilities : |
(INR
In Million)
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Auditors : |
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Name : |
B S R and Associates LLP Chartered Accountants |
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Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N M Joshi Marg, Mahalakshmi, Mumbai -400 011, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
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Associate: |
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Enterprises which are owned, or have significant influence of
or are partners with Key management personnel and their relatives: |
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Subsidiary company: |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
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|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
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|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
|
|
08.07.2016 to 31.03.2017 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.100 |
|
(b) Reserves and Surplus |
|
|
3689.409 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
3689.509 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
460.209 |
|
(b) Deferred tax liabilities (Net) |
|
|
95.612 |
|
(c) Other long-term
liabilities |
|
|
0.025 |
|
(d) long-term
provisions |
|
|
67.555 |
|
Total Non-current Liabilities
(3) |
|
|
623.401 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
|
1574.586 |
|
(b) Trade
payables |
|
|
1263.073 |
|
(c) Other
current liabilities |
|
|
623.760 |
|
(d) Short-term
provisions |
|
|
85.382 |
|
Total Current
Liabilities (4) |
|
|
3546.801 |
|
|
|
|
|
|
TOTAL |
|
|
7859.711 |
|
|
|
|
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|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
2835.824 |
|
(ii)
Intangible Assets |
|
|
9.072 |
|
(iii) Tangible assets
capital work-in-progress |
|
|
162.057 |
|
(iv)
Intangible assets under development |
|
|
22.014 |
|
(b) Non-current Investments |
|
|
95.917 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d)
Long-term loans and advances |
|
|
327.420 |
|
(e) Other
Non-current assets |
|
|
63.128 |
|
Total Non-Current
Assets |
|
|
3515.432 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
1.501 |
|
(b)
Inventories |
|
|
2106.108 |
|
(c) Trade
receivables |
|
|
1673.271 |
|
(d) Cash and
bank balances |
|
|
288.167 |
|
(e)
Short-term loans and advances |
|
|
275.232 |
|
(f) Other
current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
4344.279 |
|
|
|
|
|
|
TOTAL |
|
|
7859.711 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
|
|
08.07.2016 to 31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
4146.913 |
|
|
Other Income |
|
|
27.016 |
|
|
TOTAL |
|
|
4173.929 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
2714.917 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(76.405) |
|
|
Employee benefit expense |
|
|
228.399 |
|
|
CSR expenditure |
|
|
1.810 |
|
|
Other expenses |
|
|
737.766 |
|
|
TOTAL |
|
|
3606.487 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
567.442 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
125.203 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
442.239 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
224.457 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
217.782 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
62.382 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
155.400 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
|
2649.393 |
|
|
TOTAL EARNINGS |
|
|
2649.393 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
15540.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
08.07.2016 to 31.03.2017 |
|
|
|
|
|
|
Current Maturities of Long term debt |
|
|
305.543 |
|
|
|
|
|
|
Cash generated from operations |
|
|
274.919 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
|
|
141.787 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
08.07.2016 to 31.03.2017 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
|
147.28 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
2.48 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
169.81 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
08.07.2016 to 31.03.2017 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.63 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
0.96 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.82 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
4.53 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
08.07.2016 to 31.03.2017 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
3.75 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
1.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
4.21 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
08.07.2016 to 31.03.2017 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
0.63 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
23403.38 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.22 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.100 |
|
(b) Reserves and Surplus |
|
|
3662.981 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
(d) Minority interest |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
3663.081 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
474.909 |
|
(b) Deferred tax liabilities (Net) |
|
|
95.613 |
|
(c) Other long-term
liabilities |
|
|
0.025 |
|
(d) long-term
provisions |
|
|
67.555 |
|
Total Non-current Liabilities
(3) |
|
|
638.102 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
|
1574.586 |
|
(b) Trade
payables |
|
|
1248.555 |
|
(c) Other
current liabilities |
|
|
629.606 |
|
(d) Short-term
provisions |
|
|
85.381 |
|
Total Current
Liabilities (4) |
|
|
3538.128 |
|
|
|
|
|
|
TOTAL |
|
|
7839.311 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
2929.930 |
|
(ii)
Intangible Assets |
|
|
26.835 |
|
(iii) Tangible assets
capital work-in-progress |
|
|
184.807 |
|
(iv)
Intangible assets under development |
|
|
22.014 |
|
(b) Non-current Investments |
|
|
0.576 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d)
Long-term loans and advances |
|
|
315.863 |
|
(e) Other
Non-current assets |
|
|
63.128 |
|
Total Non-Current
Assets |
|
|
3543.153 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
1.501 |
|
(b)
Inventories |
|
|
2229.931 |
|
(c) Trade
receivables |
|
|
1484.958 |
|
(d) Cash and
bank balances |
|
|
302.341 |
|
(e)
Short-term loans and advances |
|
|
277.427 |
|
(f) Other
current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
4296.158 |
|
|
|
|
|
|
TOTAL |
|
|
7839.311 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
4118.679 |
|
|
Other Income |
|
|
97.845 |
|
|
TOTAL |
|
|
4216.524 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
2732.848 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(59.988) |
|
|
Employee benefit expense |
|
|
241.860 |
|
|
Other expenses |
|
|
754.213 |
|
|
TOTAL |
|
|
3668.933 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
547.591 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
125.419 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
422.172 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
224.866 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
197.306 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
68.290 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
129.016 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
12901.60 |
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 |
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) |
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 nine months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last nine months |
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 |
COMPANY OVERVIEW
Subject incorporated on 08 July 2016 under the provision of the Companies Act, 2013 is a public company domiciled in India. The Company is engaged in the manufacture, supply and export of aroma chemicals.
The Companys manufacturing units are located at Mahad and Jagadia. Privis in-house Research and Development centre has been accorded recognition by the Department of Scientific and Industrial Research.
OPERATIONS:
The Company has been incorporated on 08th July, 2016 and it is engaged in the business of Manufacturing, Exporting and Supplying the Aroma Chemicals.
During the reporting period, pursuant to the Order dated February 22, 2017 passed by the National Company Law Tribunal approving the Scheme of Arrangement (the Scheme) between Privi Organics Limited (POL), Fairchem Speciality Limited (FSL) and Adi Aromatic Limited (now Privi Organics India Limited / POIL), the aroma chemical business division of POL (CIN: U24120MH1982PLC026867) was demerged from POL and all the assets and liabilities with respect to the said business were transferred to your Company as a going concern.
Further, the Registered Office of the Company was shifted from 8, Corporate Park, Sion-Trombay Road behind Swastik Park, Chembur, Mumbai 400 071 to Privi House, A-71, TTC Thane Belapur Road, Near Kopar khairane Railway Station, Navi Mumbai 400709 with effect from 16th March, 2017.
During the reporting period, Company has achieved a net profit of INR 155.350 Million on standalone basis and INR 156.923 Million on a consolidated basis.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
|
As
on 31.03.2017 |
|
LONG TERM
BORROWING |
|
|
|
Deferred sales tax loan |
|
23.597 |
|
Other loans and advances |
|
1.248 |
|
Total |
|
24.845 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G43089820 |
100095399 |
STANDARD CHARTERED
BANK |
31/03/2017 |
- |
750000000.0 |
CRESCENZO, 3A/F,
PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA
EASTMUMBAIMH400051IN |
|
2 |
C69444438 |
10601168 |
DBS BANK LTD |
31/08/2015 |
- |
100000000.0 |
DLF CAPITOL POINT,
GROUND FLOOR & FIRST FLOORBABA KHARAK SINGH MARG, CONNAUGHT PLACENEW
DELHIDL110001IN |
|
3 |
C51453066 |
10564875 |
STANDARD CHARTERED
BANK |
22/04/2015 |
- |
346500000.0 |
NARAIN MANZIL23,
BARAKHAMBA ROADDELHIDL110001IN |
|
4 |
C51452894 |
10564874 |
STANDARD CHARTERED
BANK |
22/04/2015 |
- |
25000000.0 |
NARAIN MANZIL23,
BARAKHAMBA ROADDELHIDL110001IN |
|
5 |
C53164323 |
10568442 |
RBL BANK LIMITED |
20/03/2015 |
- |
350000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMH416001IN |
|
6 |
B90910902 |
10463697 |
BANK OF BARODA |
11/10/2013 |
- |
83000000.0 |
PRINCESS STREET
BRANCH, 1ST FLOOR,MULJI JETHA BUILDING, 185/187, PRINCESS
STREET,MUMBAIMH400002IN |
|
7 |
B89286975 |
10459580 |
THE RATNAKAR BANK
LIMITED |
20/09/2013 |
- |
150000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMH416001IN |
|
8 |
G01834878 |
10095029 |
BANK OF BARODA |
06/12/2007 |
28/03/2016 |
1218000000.0 |
PRINCESS STREET
BRANCH, 185/187, MULJI JETHA BLDG.1ST FLOOR, PRINCESS STREET,MUMBAIMH400002IN |
|
9 |
A26390146 |
10079171 |
PUNJAB NATIONAL
BANK |
05/09/2007 |
- |
19000000.0 |
ILACO HOUSE, SIR
P. M. ROAD,FORTMUMBAIMH400001IN |
|
10 |
G37209665 |
10017000 |
BANK OF BARODA |
16/08/2006 |
22/02/2017 |
3738000000.0 |
PRINCESS STREET BRANCH,
185/187, MULJI JETHA BLDG.1ST FLOOR, PRINCESS STREET,MUMBAIMH400002IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
- Vehicles
- Leasehold improvements
Intangible
assets
- 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 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 65.13 |
|
|
1 |
INR 92.52 |
|
Euro |
1 |
INR 80.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
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.