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|
MIRA INFORM REPORT
|
Report No. : |
503213 |
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Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
DOW CHEMICAL INTERNATIONAL PRIVATE LIMITED (w.e.f. 01.11.1999) |
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Formerly Known
As : |
DOW ( |
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Registered
Office : |
1st Floor, Block B, Godrej IT Park, 02, Godrej Business Dist.,
Pirojshanagar, Vikhroli (West), Mumbai – 400079, Maharashtra |
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Tel. No.: |
91-22-66741500 / 800 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
13.02.1998 |
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Com. Reg. No.: |
11-113551 |
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Capital
Investment / Paid-up Capital : |
INR 34.633 Million |
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CIN No.: [Company Identification
No.] |
U24239MH1998PTC113551 |
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IEC No.: [Import-Export Code No.] |
0398016666 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACD4467B1ZY |
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TIN No.: |
27120325608 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACD4467B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing, trading and indenting in chemicals, and automotive engineering solutions. The Company is also engaged in back-end support, engineering and research and development activities (Registered Activity and also Confirmed by management) |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Maximum Credit Limit : |
USD 20400000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Dow Chemical Pacific (Singapore) Pte. Ltd” and was incorporated in the year 1998. It is having excellent 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 financials of 2016, the company has increased its revenue from operation as compared to previous year and maintained decent profitability margin of 2.50%. Rating takes into consideration strong financial profile of the company marked by healthy networth base and low debt balance sheet. Further, the company also derives strength from its strong holding company support, well established track records of business operation along with decent improvement in the revenue profile. It is also to be noted that “Dow Chemical” has been ranked 62 with fortune 500 companies. Trade relations are reported as fair. Payments are seems to be regular and as per commitments. In view of established market position, the company can be considered good for normal 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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
31-03-2018.
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 13.04.2018
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 |
|
Designation : |
Office Assistant |
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Contact No.: |
91-22-66741800 |
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Date : |
11.04.2018 |
LOCATIONS
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Registered Office: |
1st Floor, Block B, Godrej IT Park, 02, Godrej Business District,
Pirojshanagar, Vikhroli (West), Mumbai – 400079, Maharashtra, India |
|
Tel. No.: |
91-22-66741500 / 66741700/ 67328251 |
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Mobile No.: |
91-9820129419 (Mr. Z. Ansari) |
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Fax No.: |
91-22-66741824 |
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E-Mail : |
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Website : |
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Manufacturing 1/ Operation 1 : |
Plot No. T – 22/ PT, MIDC Taloja, Taloja, Navi Mumbai, District:
Raigad - 410208, Maharashtra, India |
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Tel. No.: |
91-22-39685555 |
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Manufacturing 2 / operations 2 : |
A-1, MIDC, Lote Parshuram Khed, District Ratnagiri -415722, Maharashtra India |
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Tel. No.: |
91-2356-272034 |
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Factory 3: |
Old Mumbai Pune Road, Palaspe, Survey No.123, CCI Logistics Park,
Village Kolkhe, Panvel, Raigad -410206, India |
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India Engineering Center (Centre Of Excellence): |
Taramai Tech Park, SP Plot No. 16 – 19 and 20, Thiruvika Industrial
Estate, Guindy, Channai – 600032, Tamilnadu, India |
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Tel. No.: |
91-44-39815000 |
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Application Development Lab: |
CADC, Satyam Towers Neelkamal Sanghavi Estate, M Towers Neelkamal Sanghavi
Estate, Behind USV Limited Office, Govandi Station Road, Mumbai - 400028,
Maharashtra, India |
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Tel. No.: |
91-22-61820423 |
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Corporate Office: |
Block 2, Godrej IT Park, Godrej Business District, Vikhroli West,
Mumbai – 400079, Maharashtra, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Ramolla T. Karnani |
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Designation : |
Director |
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Address : |
701 – 702, Anant Basera, S. S. Patkar Mahavidhyalaya Marg, Off S. V. Road,
Goregaon (West), Mumbai – 400062, Maharashtra, India |
|
Date of Birth/Age : |
11.08.1959 |
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Date of Appointment : |
29.07.2004 |
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PAN No.: |
AAEPK7929A |
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DIN No.: |
00174531 |
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Name : |
Mr. Chandrakant Nayak |
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Designation : |
Director |
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Address : |
C – 31/266 MIG Colony, Gandhi Nagar, Bandra, Mumbai – 400051, |
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Date of Birth/Age : |
09.08.1966 |
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Date of Appointment : |
21.11.2006 |
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PAN No.: |
AAEPN2157M |
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DIN No.: |
00680762 |
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Name : |
Mr. Subhash Shrinivas Mukadam |
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Designation : |
Director |
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Address : |
A-5 Sahil Co-Operative Housing Society,
Kaviltali PO Taluka-Chiplun, Ratnagiri – 415605, Maharashtra, India |
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Date of Birth/Age : |
05.05.1959 |
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Date of Appointment : |
20.09.2011 |
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PAN No.: |
ABGPM8027Q |
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DIN No.: |
03593259 |
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|
|
Name : |
Mr. Sudhir Ganpathy Shenoy |
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Designation : |
Director |
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Address : |
A-1802, Great Eastern Gardens, LBS Marg,
Kanjurmarg West, Mumbai – 400078, Maharashtra, India |
|
Date of Appointment : |
28.09.2015 |
|
PAN No.: |
AVIPS9229A |
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DIN No.: |
05289639 |
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|
|
|
Name : |
Mr. Ragunathan Thangavel |
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Designation : |
Director |
|
Address : |
Asvini Amrisa, 4th Blk, 3A, 77,
Kalasat, Hamman ST, Rampuram, Chennai – 600089, Tamilnadu, India |
|
Date of Appointment : |
08.02.2016 |
|
DIN No.: |
06939240 |
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|
Name : |
Mr. Edosa Agbon Obayagbona |
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Designation : |
Director |
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Address : |
Flat No. 2202,EVITA, Hiranandani Gardens Powai, Mumbai – 400076,
Maharashtra, India |
|
Date of Appointment : |
22.05.2017 |
|
DIN No.: |
07822039 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir Ganpathy Shenoy |
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Designation : |
Chief Executive Officer |
|
Address : |
A-1802, Great Eastern Gardens, LBS Marg, Kanjurmarg
West, Mumbai – 400078, Maharashtra, India |
|
Date of Appointment : |
30.01.2015 |
|
PAN No.: |
AVIPS9229A |
MAJOR SHAREHOLDERS
AS ON 28.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Dow Chemical Pacific (Singapore) Pte. Limited, Singapore |
|
2493322 |
|
Dow Chemical Singapore Holdings Pte. Limited, Singapore |
|
17 |
|
Rohm and Haas Denmark Finance As |
|
969962 |
|
Total |
|
3463301 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
71.99 |
|
Public/Other than promoters - Body corporate |
28.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing, trading and indenting in chemicals, and automotive engineering solutions. The Company is also engaged in back-end support, engineering and research and development activities (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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
NEFT / RTGS |
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Purchasing : |
NEFT / RTGS |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells LLP Chartered Accountant |
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Address : |
Indiabulls Finance Centre Tower 3, 27th-32nd Floor, Senapati Marg, Elphinstone Road (West), Mumbai – 400013, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
· Dow Chemical Pacific (Singapore) Pte Limited |
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Ultimate Holding
company: |
· The Dow Chemical Company, USA |
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Fellow subsidiary: |
· ANGUS Chemical Company · ANGUS Chemie GmbH · DCOMCO Inc · Dow AgroSciences India Private Limited · Dow AgroSciences L L C · Dow AgroSciences Southern Africa (Proprietary) Limited · Dow AgroSciences Switzerland S.A. · Dow Belgium B.V.B.A. · Dow Benelux B.V. · Dow Brasil Ind e Com de Produtos Quimicos LTDA · Dow Brasil Sudeste Industrial Ltda. · Dow Chemical (Australia) Pty Limited · Dow Chemical (China) Investment Company Limited · Dow Chemical (China) Investment Company Limited, Guangzhou branch · Dow Chemical (Guangzhou) Company Limited · Dow Chemical (Malaysia) Sdn. Bhd. · Dow Chemical (Shanghai) Company Limited. · Dow Chemical (Zhangjiagang) Company Limited · Dow Chemical Canada ULC · Dow Chemical Iberica S.L. · Dow Chemical IMEA GmbH · Dow Chemical Japan Limited · Dow Chemical Korea Limited · Dow Chemical Pacific Limited · Dow Chemical Taiwan Limited · Dow Chemical Thailand Limited · Dow Deutschland Anlagengesellschaft MbH · Dow Engineering Company · Dow Europe GmbH · Dow France S.A.S. · Dow International Technology Corporation · Dow Italia Divisione Commerciale s.r.l · Dow Italia s.r.l. · Dow Olefinverbund GmbH · Dow Plastics Southern Africa · Dow Portugal - Produtos Quimicos, Unipessoal, Lda. · Dow Southern Africa (Pty) Limited · Dow Stade Produktions GmbH and Co. OHG · Dow Turkiye Kimya Sanayi ve Ticaret Limited Sirketi · Dow Hydrocarbons and Resources LLC · Carbide Chemical (Thailand) Limited · FilmTec Corporation · Global Industrial Corporation · RH Finland OY · Hampshire Chemical Corp. · Pt Dow Indonesia · Rohm and Haas Chemicals LLC · Rohm and Haas (India) Private Limited (Upto March 31, 2015) · UCAR Emulsion Systems Fze · UCAR Pipeline Incorporated · Zhejiang Pacific Chemical Corporation · Dow Chemical (Wuhan) Company Limited · Dow Chemical (NZ) Limited · Dow Chemical Singapore Pte. Limited · Dow Chemical Korea Limited- Hongkong Branch · Dow Chemical Thailand Limited- Hongkong Branch · RH Singapore (Pte) Limited · Rohm and Haas Japan Kabushiki Kaisha · Dow AgroSciences (NZ) Limited · P.T Dow Agrosciences Indonesia · PT Dow Indonesia · Rohm and Haas Philippines Inc · Hyperlast Limited · Dow Chemical Japan Limited (Agrosciences Division) · Dow Agrosciences (China) Limited · Dow Agrosciences BV Philippines Branch · Dow Chemical Pacific LimitedPhilippines Branch · Dow AgroSciences (China) Company Limited · RHEM Asia Limited · Rohm and Haas Taiwan Inc · Rohm and Haas Korea Co Limited · RHEM Korea Limited · RH China R and D Center · RHEM KK · Zhejiang Omex Environmental Engineering Co Limited · Dow Chemical (Zhangjiagang) Co., Limited · Dow Chemical OLED Limited · RHEM (Dongguan) Limited · RH International Trading Company · RH Europe Sarl · Business Process Service Center Terneuzen BV · Rohm and Haas Vietnam Co Limited · Dow Agrosciences Australia Limited · Rohm and Haas Texas Inc · Rohm and Haas Chemical (Thailand) Limited · Rohm and Haas Mexico SRL · RH Malaysia Sdn Bhd · RH Foshan Specialty Materials Co., Limited · Rohm and Haas Australia Pty Limited · Rohm and Haas S Africa Limited · Petroquimica Dow S.A. · Dow Chemical Singapore Holdings Pte Limited · Rhom andHaas Quimica Ltda · RH Europe Trading ApS · Rohm and Haas Chemical (Thailand) Limited · RH Europe Trading ApS Belgium · Rohm and Haas Company · Rohm and Haas China Inc. · Dow Business Services LLC · Blue Cube Chemicals India Private Limited · Rohm and Haas Electronic Materials LLC · PT RandH Indonesia · RH New Zealand Limited · Rohm and Haas Shanghai Chemical · RH (China) Holding Co., Limited · Rohm and Haas India Investment · Rohm and Haas Denmark Finance A/S · Rohm and Haas Korea Co Ltd |
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Associates: |
· Siam Synthetic Latex Company Limited · Anabond Revocoat India Private Limited · Siam Polyethylene Company Limited · MEGlobal International FZE |
CAPITAL STRUCTURE
AFTER 28.09.2017
Authorised Capital : INR
3950.000 Million
Issued, Subscribed & Paid-up Capital : INR 45.637 Million
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340000000 |
Equity Shares |
INR 10/- each |
INR 3400.000 Million |
|
55000000 |
Preference Shares |
INR 10/- each |
INR 550.000 Million |
|
|
Total |
|
INR 3950.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3463301 |
Equity Shares |
INR 10/- each |
INR 34.633 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
34.633 |
24.933 |
24.933 |
|
(b) Reserves and Surplus |
7116.809 |
2745.475 |
1823.475 |
|
(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) |
7151.442 |
2770.408 |
1848.408 |
|
|
|
|
|
|
(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 |
5.471 |
|
(d) long-term
provisions |
214.386 |
128.974 |
85.710 |
|
Total Non-current
Liabilities (3) |
214.386 |
128.974 |
91.181 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
990.006 |
3078.453 |
2840.000 |
|
(b) Trade
payables |
7470.128 |
3949.039 |
3248.252 |
|
(c) Other
current liabilities |
598.419 |
404.066 |
367.825 |
|
(d) Short-term
provisions |
2354.278 |
264.564 |
2898.534 |
|
Total Current
Liabilities (4) |
11412.831 |
7696.122 |
9354.611 |
|
|
|
|
|
|
TOTAL |
18778.659 |
10595.504 |
11294.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2245.455 |
451.246 |
606.041 |
|
(ii)
Intangible Assets |
723.751 |
0.581 |
0.946 |
|
(iii) Tangible assets
capital work-in-progress |
44.291 |
5.593 |
0.734 |
|
(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) |
384.617 |
232.610 |
200.440 |
|
(d)
Long-term loans and advances |
555.319 |
705.338 |
794.106 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3953.433 |
1395.368 |
1602.267 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
5574.758 |
3801.108 |
4225.454 |
|
(c) Trade
receivables |
7091.881 |
4001.439 |
4432.780 |
|
(d) Cash and
bank balances |
88.535 |
250.399 |
104.182 |
|
(e)
Short-term loans and advances |
1976.782 |
1143.405 |
929.516 |
|
(f) Other
current assets |
93.270 |
3.785 |
0.001 |
|
Total
Current Assets |
14825.226 |
9200.136 |
9691.933 |
|
|
|
|
|
|
TOTAL |
18778.659 |
10595.504 |
11294.200 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
27510.879 |
19564.799 |
18794.739 |
|
|
Other Income |
335.078 |
235.791 |
78.744 |
|
|
TOTAL |
27845.957 |
19800.590 |
18873.483 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
8588.821 |
2997.755 |
2520.204 |
|
|
Purchases of
Stock-in-Trade |
11026.648 |
9448.945 |
10041.412 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(53.848) |
410.459 |
(1018.602) |
|
|
Employees benefits
expense |
2079.078 |
2089.533 |
1983.642 |
|
|
CSR
Expenses |
24.619 |
25.925 |
0.000 |
|
|
Other expenses |
3756.224 |
3007.186 |
3723.255 |
|
|
TOTAL |
25421.542 |
17979.803 |
17249.911 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2424.415 |
1820.787 |
1623.572 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
290.861 |
291.243 |
269.843 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2133.554 |
1529.544 |
1353.729 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
751.529 |
168.302 |
175.884 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1382.025 |
1361.242 |
1177.845 |
|
|
|
|
|
|
|
Less |
TAX |
694.999 |
439.243 |
370.010 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
687.026 |
921.999 |
807.835 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
2662.009 |
1740.01 |
4590.839 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Final equity dividend
appropriation |
1400.005 |
0.000 |
2302.499 |
|
|
Equity dividend tax
appropriation |
0.000 |
0.000 |
460.364 |
|
|
Transfer to general
reserve |
0.000 |
0.000 |
80.784 |
|
|
Utilized towards buyback
of shares |
0.000 |
0.000 |
815.017 |
|
|
Other appropriations |
285.008 |
0.000 |
0.000 |
|
|
Total |
1685.013 |
0.000 |
3658.664 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
1664.022 |
2662.009 |
1740.010 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
2333.039 |
435.208 |
657.011 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
4228.313 |
844.427 |
761.362 |
|
|
Components and Stores
parts |
8748.832 |
7560.418 |
7856.498 |
|
|
Capital Goods |
12.110 |
15.477 |
4.311 |
|
|
TOTAL IMPORTS |
12989.255 |
8420.322 |
8622.171 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
198.37 |
369.79 |
323.33 |
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 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
3648.855 |
3183.908 |
179.561 |
|
Net cash flow from operating activity |
2983.892 |
2786.161 |
(163.032) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
94.09 |
74.65 |
86.09 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry
Debtors) |
3.88 |
4.89 |
4.24 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors /
Purchases * 365 Days) |
139.00 |
115.81 |
94.38 |
|
|
|
|
|
|
Inventory Turnover (Operating Income /
Inventories) |
0.43 |
0.48 |
0.38 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net
Fixed Assets) |
0.80 |
3.98 |
2.67 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.61 |
0.73 |
0.83 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.14 |
1.11 |
1.54 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities /
Net Worth) |
1.60 |
2.78 |
5.06 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets /
Networth) |
0.42 |
0.17 |
0.33 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
8.34 |
6.25 |
6.02 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
2.50 |
4.71 |
4.30 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) *
100) |
% |
3.66 |
8.70 |
7.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) *
100) |
% |
9.61 |
33.28 |
43.70 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.30 |
1.20 |
1.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.81 |
0.70 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.38 |
0.26 |
0.16 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
28.59 |
123.47 |
113.91 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets /
Total Current Liabilities) |
1.30 |
1.20 |
1.04 |
Total Liability = Short-term Debt + Long-term Debt
+ Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
24.933 |
24.933 |
34.633 |
|
Reserves & Surplus |
1823.475 |
2745.475 |
7116.809 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1848.408 |
2770.408 |
7151.442 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
2840.000 |
3078.453 |
990.006 |
|
Total borrowings |
2840.000 |
3078.453 |
990.006 |
|
Debt/Equity ratio |
1.536 |
1.111 |
0.138 |
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 |
18794.739 |
19564.799 |
27510.879 |
|
|
|
4.097 |
40.614 |
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 |
18794.739 |
19564.799 |
27510.879 |
|
Profit/(Loss) |
807.835 |
921.999 |
687.026 |
|
|
4.30% |
4.71% |
2.50% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 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 |
Note: Registered
address of the company has been shifted from “Corporate Par, Unit No. 1 V. N. Purav
Marg, Chembur, Mumbai – 400071, Maharashtra, India” to the present address
w.e.f.02.05.2012
COMPANY BACKGROUND
Subject Company was incorporated on 13th February, 1998, as a private limited company. The Company is engaged in the business of manufacturing, trading and indenting in chemicals, and automotive engineering solutions. The Company is also engaged in back-end support, engineering and research and development activities and has one plant in Kalwa, Thane, Maharashtra. Pursuant to the scheme of amalgamation, during the year, Rohm and Haas (India) Private Limited was merged with the Company with an appointed date of April 1, 2015 and an effective date of February 27, 2016
FINANCIAL
PERFORMANCE:
The gross income of the company, for the year at INR 27850.000 Million recorded a commendable increase of 40% as compared to INR 19800.000 Million in the previous year, however, the profit after tax for the year at INR 690.000 Million took a fair beating as compared to INR 920.000 Million in the previous year.
Amalgamation of Rohm and Haas (India) Private Limited with the Company:
During the year under review Rohm and Haas (India) Private Limited a fellow subsidiary of the Company was amalgamated into the Company pursuant to the scheme of amalgamation as approved by the Hon’ble High Court, Judicature at Bombay vide its order dated January 22, 2016.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
90.006 |
338.453 |
|
Loans repayable on demand from banks |
0.000 |
750.000 |
|
Loans repayable on demand from others |
900.000 |
1990.000 |
|
Total |
990.006 |
3078.453 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
Y10512533 |
90384554 |
BANK OF AMERICA |
08/10/2002 |
- |
- |
2500000.0 |
EXPRESS TOWERNARIMAN POINT MUMBAI MAHARASHTRA INDIA |
|
2 |
Y10504675 |
90376793 |
PUNJAB & SIND BANK |
13/03/1967 |
17/02/1969 |
- |
1890000.0 |
KAROL BAGHNEW DELHI INDIA |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
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 65.06 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHR |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
RKI |
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.