|
|
|
MIRA INFORM REPORT
|
Report No. : |
503777 |
|
Report Date : |
16.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE SIBUR ELASTOMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Admin Building, MTF Area, Village Sikka, Taluka and District Jamnagar
– 361140, Gujarat |
|
Tel. No.: |
91-288-6612515/ 4020620 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
03.02.2012 |
|
|
|
|
Com. Reg. No.: |
04-068867 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 4425.216 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ2012PTC068867 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
TIN No.: |
24101200642 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCR6922C |
|
|
|
|
TIN No.: |
24101200642 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAFCR6922C1ZN |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Processing and Selling of all types of Elastomers, Synthetic Rubbers, Thermoplastic Elastomers such as Styrene-Butadiene Rubber (SBR) (both emulsion and solution type), Polybutadiene Rubber (PBR), Butyl Rubber (IIR), Halo Butyl Rubber (HIIR), Nitrile Butadiene Rubber (NBR), Polyisobutylene, Polybutane, Chloroprene, etc. [As per Memorandum of Association] |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum credit limit |
USD 12977000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Reliance Sibur Elastomers Private Limited (RSEPL) is a joint venture between Reliance Industries Limited and Sibur Group of Russia (via Sibur Investment AG, Russia). The company with effect from April 08, 2015 has become a direct subsidiary of Reliance Industries Limited (RIL). Earlier it was subsidiary of Reliance Industrial Investments and Holdings Limited (a Reliance Group entity). RIL holds 74.9% of the paid-up share capital of the Company. The other Joint Venture Partner, Sibur Investment AG (a SIBUR Group entity) holds 25.1% of the paid-up share capital of the company. The company is working on the implementation of the Butyl Rubber project which will be located at Jamnagar. It is a significant project in India which will offer Butyl Rubber to Indian tyre and tube manufacturers. The company has not earned income from its operations during the year under the review. However, the company has recorded a profit after tax (PAT) of INR 20.300 million, which is mainly due to returns on the investment of surplus funds. Further, the company has strong net worth base backed by sound capital structure. Rating takes into consideration the strength that the company derives from RIL and Sibur Investment AG. Business is active. Payment seems to be slow but correct. In view of strong venturing partners, the company can be considered for business dealings at usual trade terms and condition. NOTE: As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. |
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 |
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 16.04.2018
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 DECLINED BY
|
Name : |
Mr. Santosh Upadhyay |
|
Designation : |
Assistant Vice President |
|
Contact No.: |
91-288-6612515 |
|
Date : |
04.12.2017 |
[91-288-4020620] Number is
ringing
LOCATIONS
|
Registered Office : |
Admin Building, MTF Area, Village Sikka, Taluka and District Jamnagar –
361140, Gujarat, India |
|
Tel. No.: |
91-288-6612515/ 4020620 |
|
Fax No.: |
91-288-4012147 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Sudhakar Saraswatula |
|
Designation : |
Director |
|
Address : |
A/161, Brook Heaven, Jogeshwari- Vikhroli Link Road, Near Majas Depot, Jogeshwari (East), Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1957 |
|
Qualification : |
FCA, FCS |
|
Date of Appointment : |
03.02.2012 |
|
DIN No.: |
00001330 |
|
|
|
|
Name : |
Mr. Chandrakant Shripad Gokhale |
|
Designation : |
Director |
|
Address : |
A-301, Falcon Castle, Lower Parel, N. M. Joshi Marg, Mumbai-400013, Maharashtra, India |
|
Date of Birth/Age : |
13.11.1944 |
|
Qualification : |
B.Sc, Advanced Management Course from Leeds University and Ph. D. from an US University |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
00012666 |
|
|
|
|
Name : |
Mr. Kishor Jhalaria |
|
Designation : |
Director |
|
Address : |
17 - Iris, 5th Floor, G.D. Somani Marg, Cuffe Parade, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
28.05.1957 |
|
Qualification : |
B. hailTech (Chemical Engineering) |
|
Date of Appointment : |
21.02.2012 |
|
DIN No.: |
02373095 |
|
|
|
|
Name : |
Mr. Ajay Gautamlal Shah |
|
Designation : |
Director |
|
Address : |
A2/1 - 2nd Floor, Great Eastern Royale 333, Bellasis Road, Tardeo, Mumbai-400034, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1959 |
|
Qualification : |
B. Tech (Chemical Engineering); Masters in Financial Management |
|
Date of Appointment : |
21.02.2012 |
|
DIN No.: |
03613030 |
|
|
|
|
Name : |
Mr. Virendra Jivraj Rathod |
|
Designation : |
Director |
|
Address : |
1203, Legacy Tower, Powai Vihar, Powai, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
07.10.1963 |
|
Qualification : |
Bachelors Chemical Engineering,PGDM(IIM-A) |
|
Date of Appointment : |
21.08.2012 |
|
DIN No.: |
05357880 |
|
|
|
|
Name : |
Vadim Lishchinskiy |
|
Designation : |
Director |
|
Address : |
Donskaya Street, House No. 6, Ap. 68 Moscow Na Ru |
|
Date of Appointment : |
19.02.2016 |
|
DIN No.: |
06402449 |
|
|
|
|
Name : |
Dmitry Khrichenko |
|
Designation : |
Alternate Director |
|
Address : |
Building 5, Corpus 2, Apartment 40, Ostrovityanova, Moscow-117198 Ru |
|
Date of Appointment : |
19.02.2016 |
|
DIN No.: |
07438565 |
|
|
|
|
Name : |
Mr. Parvinder Singh Pruthi |
|
Designation : |
Additional Director |
|
Address : |
# G-4, Sect -14, Chandigarh- 160014, India |
|
Date of Appointment : |
24.03.2017 |
|
DIN No.: |
07481899 |
|
|
|
|
Name : |
Mr. Marina Vladimir Medvedeva |
|
Designation : |
Director |
|
Date of Appointment : |
21.02.2013 |
|
DIN No.: |
05179585 |
KEY EXECUTIVES
|
Name : |
Mrs. Kanchan Chakrabarty |
|
Designation : |
Chief Executive Officer |
|
Address : |
Flat No. 211, C-Wing, Evening Star, CHS. Limited, Raheja Vihar, Tungwa, Powai, Mumbai-400072, Maharashtra, India |
|
Qualification : |
18.07.1970 |
|
Experience : |
B.E (Chemical Engineering) |
|
Date of Appointment : |
10.04.2014 |
|
PAN No: |
ACXPC1813C |
|
|
|
|
Name : |
Mr. Siddharth Ashokkumar Shah |
|
Designation : |
Company Secretary |
|
Address : |
C/102, Vasant Smruti CHS, 90 Feet Road Thakur Complex, Kandivali (East), Mumbai-400101, Maharashtra, India |
|
Date of Appointment : |
07.08.2015 |
|
PAN No: |
BFPPS9609A |
|
|
|
|
Name : |
Mr. Pankaj Shivdutt Dadhich |
|
Designation : |
Chief finance Officer |
|
|
Flat 302, Floor 3, Green Avenue I Chsl, Raheja Estate, Near National Park, Kulupwadi, Borivali (East) Mumbai-400066, Maharashtra, India |
|
Date of Appointment : |
21.08.2015 |
|
PAN No: |
AEPPD9152D |
|
|
|
|
Name : |
Mr. Santosh Upadhyay |
|
Designation : |
Assistant Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Industries Limited, India |
|
464028112 |
|
Sibur Investments AG, Switzerland |
|
155502081 |
|
S Sudhakar Jointly with Reliance Industries Limited* |
|
1 |
|
Pankaj Dadhich jointly with Reliance Industries Limited* |
|
1 |
|
Paras N Bhansali jointly with Reliance Industries Limited* |
|
1 |
|
Santosh Kumar Ram jointly with Reliance Industries Limited* |
|
1 |
|
Siddharth A. Shah jointly with Reliance Industries Limited* |
|
1 |
|
|
|
|
|
Total |
|
619530198 |
* 1 share each held
by 5 nominees (other than promoters) jointly with Reliance Industries Limited
(RIL), beneficial interest is with RIL.
AS ON 18.04.2017
|
Names of Allottees |
No. of Shares |
|
Reliance Industries Limited, India |
318325000 |
|
C/O Kerdos AG, Switzerland |
106675000 |
|
|
|
|
Total |
425000000 |
AS ON: 27.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Processing and Selling of all types of Elastomers, Synthetic Rubbers, Thermoplastic Elastomers such as Styrene-Butadiene Rubber (SBR) (both emulsion and solution type), Polybutadiene Rubber (PBR), Butyl Rubber (IIR), Halo Butyl Rubber (HIIR), Nitrile Butadiene Rubber (NBR), Polyisobutylene, Polybutane, Chloroprene, etc. [As per Memorandum of Association] |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: [NOT AVAILABLE]
GENERAL INFORMATION
|
Suppliers : |
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|
Customers : |
|
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|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
-- |
|
Financial Institution : |
· Axis Trustee Services Limited Axis House, Bombay Dyeing Mills, Compound, Pandhurang Budhkar Marg, Worli, Mumbai-400025, Maharashtra, India |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Deloitte Haskins and sells LLP Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, 32nd Floor, Tower 3, Senapati Bapat Marg, Elphinstone Mill Compound, Elphinstone (West), Mumbai – 400013 , Maharashtra , India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Reliance Industries Limited* (from 08.04.2015) [L17110MH1973PLC019786] |
|
|
|
|
Joint Venture : |
Sibur Investments AG, Switzerland |
|
|
|
|
Fellow Subsidiary : |
· Reliance Industrial Investments and Holdings Limited# (from 08.04.2015) [U65910MH1986PLC041081] · Reliance Retail Limited [U01100MH1999PLC120563] |
* Ultimate Holding Company up to 08.04.2015, became Holding Company thereafter.
# Holding Company up to 08.04.2015, became Fellow Subsidiary thereafter.
CAPITAL STRUCTURE
AFTER: 27.09.2017
Authorised Capital: INR 17200.000 Million
Issued, Subscribed & Paid-up Capital: INR 15445.302
Million
AS ON: 27.09.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1120000000 |
Equity Shares |
INR 10/- each |
INR 11200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
619530198 |
Equity Shares |
INR 10/- each |
INR 6195.302
Million |
|
|
|
|
|
AS ON 31.03.2016
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
460000000 |
Equity Shares |
INR 10/- each |
INR 4600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
442521570 |
Equity Shares |
INR 10/- each |
INR 4425.216 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 |
4425.216 |
1180.057 |
1180.057 |
|
(b) Reserves & Surplus |
116.977 |
96.651 |
74.325 |
|
(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) |
4542.193 |
1276.708 |
1254.382 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
875.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
16.067 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
891.067 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
3298.425 |
89.498 |
46.029 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
3298.425 |
89.498 |
46.029 |
|
|
|
|
|
|
TOTAL |
7840.618 |
2257.273 |
1300.411 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.000 |
0.000 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
5851.388 |
1412.872 |
345.068 |
|
(iv) Intangible assets under development |
206.057 |
206.057 |
206.057 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
657.589 |
502.604 |
0.195 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
6715.034 |
2121.533 |
551.320 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
853.800 |
0.000 |
685.252 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d)
Cash and cash equivalents |
0.476 |
0.276 |
0.169 |
|
(e)
Short-term loans and advances |
271.308 |
135.464 |
63.670 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1125.584 |
135.740 |
749.091 |
|
|
|
|
|
|
TOTAL |
7840.618 |
2257.273 |
1300.411 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
27.580 |
23.647 |
58.960 |
|
|
|
TOTAL |
27.580 |
23.647 |
58.960 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
CSR Expenditure |
0.701 |
0.830 |
0.000 |
|
|
|
Other Expenses |
1.769 |
0.392 |
4.063 |
|
|
|
TOTAL |
2.470 |
1.222 |
4.063 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
25.110 |
22.425 |
54.897 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
25.110 |
22.425 |
54.897 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
25.110 |
22.425 |
54.897 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.784 |
0.100 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
20.326 |
22.325 |
54.897 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Value of imports of capital goods |
3162.875 |
85.160 |
0.000 |
|
|
TOTAL IMPORTS |
3162.875 |
85.160 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
0.09 |
0.19 |
0.47 |
|
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 flow from (used in) operations |
(143.253) |
(72.403) |
(31.204) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(147.859) |
(72.503) |
(32.207) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.00 |
0.01 |
0.10 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.42 |
0.43 |
0.04 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.69 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.73 |
0.07 |
0.04 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.33 |
1.27 |
0.44 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.26 |
0.99 |
4.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.45 |
1.75 |
4.38 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.34 |
1.52 |
16.27 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.34 |
1.52 |
16.27 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.58 |
0.57 |
0.96 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.74 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.34 |
1.52 |
16.27 |
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
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1180.057 |
1180.057 |
4425.216 |
|
Reserves & Surplus |
74.325 |
96.651 |
116.977 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1254.382 |
1276.708 |
4542.193 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
875.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
875.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.685 |
0.000 |
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 |
|
Total Income |
58.960 |
23.647 |
27.580 |
|
|
|
(59.893) |
16.632 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Total Income |
58.960 |
23.647 |
27.580 |
|
Profit/ (Loss) |
54.897 |
22.325 |
20.326 |
|
|
93.11% |
94.41% |
73.70% |
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 |
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 |
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G11495710 |
100049260 |
AXIS TRUSTEE SERVICES LIMITED |
15/09/2016 |
- |
- |
21927939000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
875.000 |
|
|
|
|
|
Total |
0.000 |
875.000 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Estimated amount of contracts remaining to be
executed on capital account and not provided for |
3966.741 |
8441.392 |
STATE OF COMPANY’S AFFAIRS
The Company, Reliance Sibur Elastomers Private Limited (RSEPL), is a Joint Venture between Reliance Group and SIBUR Group of Russia. The Company is a subsidiary of Reliance Industries Limited (RIL).
RIL holds 74.9% of the paid-up share capital of the Company. The other Joint Venture Partner, Sibur Investment AG (a SIBUR Group entity) holds 25.1% of the paid-up share capital of the Company.
The Company is working on setting up Butyl Rubber Project at Jamnagar with capacity of 120000 metric tonnes per year (MTA) and Halogenated Isobutylene Isoprene Rubber (HIIR) Project of 60000 metric tonnes per year (MTA).
This
is a significant project in India which will offer Butyl Rubber to Indian tyre
and tube manufacturers who are currently completely dependent on imports. The
company undertaken has various activities to make capital commitments during
the financial years 2014-15 and 2015-16. The project has been conceptualized to
cater to the latent increasing domestic butyl rubber deficit. The project is
most competitively placed to capture the domestic Indian market. The project
has been tightly configured with long term supply of feedstock and utilities
coupled with off-take support from sponsors, supplying to an ever increasing
deficit domestic market with no domestic competition in sight driven by a
technological barrier to entry and limited availability of feedstock in India.
The Company has awarded Detailed Engineering Contract and as on March 31, 2016; 91% of detailed engineering has been completed in respect of IIR. The Company has also awarded contracts for approx. 80% of the equipment including all long lead equipment in respect of IIR. Your company has also awarded licensing contract for HIIR to Russia’s Yarsintez and currently basic engineering is under progress.
As
the Company is yet to commence its commercial / business activities, there was
no revenue from business operations during the financial year 2015-16. The Company
has recorded a Profit after tax (PAT) of Rs. 2.03 crore, which is mainly due to
returns on the investment of surplus funds.
ISSUE OF
SHARES ON RIGHTS BASIS
During the year, Company has issued 32,45,15,818 Equity Shares of INR 10 each for cash, at face value, aggregating to INR 3245.158 million on Rights basis to the existing Equity Shareholders of the Company in the ratio of 11 Equity Shares for every 4 existing Equity Shares held.
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, India Prisons Service,
Interpol, etc.
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 65.22 |
|
UK Pound |
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHR |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
RUP |
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.