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|
%20PRIVATE%20LIMITED%20-%20504301%2019-Apr-2018_files/image002.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20504301%2019-Apr-2018_files/image004.jpg)
%20PRIVATE%20LIMITED%20-%20504301%2019-Apr-2018_files/image006.gif)
MIRA INFORM REPORT
|
Report No. : |
504301 |
|
Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
COVESTRO (INDIA) PRIVATE LIMITED (w.e.f. 26.08.2015) |
|
|
|
|
Formerly Known
As : |
BAYER MATERIAL SCIENCE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Bayer House, Central Avenue, Hirandani Estate, Thane (West), Thane –
400607, Maharashtra |
|
Tel. No.: |
91-22-25311234 / 25866161 / 25866406 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
11.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-179724 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 2625.200
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19113MH1995PTC179724 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0396009662 |
|
|
|
|
TIN / CST No.: |
27680283590 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACB2419H1Z0 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB2419H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The
Company is engaged in manufacture and trading of high-performance materials
for applications in numerous areas of industries like automotive,
construction, electrical and electronics, sports and leisure, packaging and
medical technology sectors. [Registered
Activity] |
|
|
|
|
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Covestro Deutschland AG, Germany” and was incorporated in the year 1995. For the financial year ended 2017, the company has achieved a growth of 6.36% in its revenue along with a fair profit margin of 7.08%. The moderate financial risk profile of the company is marked by low reserve base as compared to its capital. Rating takes into consideration the subject’s negligible debt balance
sheet profile due to unsecured debt recorded in the books. Rating also takes into account the strong financial and managerial
support that company receives from its holding entity backed by its well
experienced management team. However, rating strength partially offset by vulnerability of its
operating margins to volatility in raw material prices and working capital
intensive operations. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 19.04.2018
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 : |
Mr. Rajendra Jaiswal |
|
Designation : |
Sales Executive |
|
Contact No.: |
91-9711662256 |
|
Date : |
18.04.2018 |
91-22-25866490 /
25866161 / 25866153 / 91-120-6763118 – Continuously Ringing
LOCATIONS
|
Registered Office/ Corporate Office : |
Bayer House, Central Avenue, Hirandani Estate, Thane (West), Thane – 400607,
Maharashtra, India |
|
Tel. No.: |
91-22-25311234 / 25866161 / 25866406 / 25866412 / 25866490 / 25866153 |
|
Fax No.: |
91-22-25455226 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Ajay Durrani |
|
Designation : |
Managing Director |
|
Address : |
A-11, Upkar Apartments, Mayur Vihar, Phase-1, Extension, New Delhi – 110091, India |
|
Date of Birth/Age : |
27.11.1965 |
|
Qualification : |
B.Sc, MBA - Specialization in Marketing Management |
|
Date of Appointment : |
01.12.2013 |
|
PAN No.: |
AAPPD3887R |
|
DIN No.: |
06369307 |
|
|
|
|
Name : |
Mr. Avinash Manmohan Bagdi |
|
Designation : |
Director |
|
Address : |
D-802, Sainath Tower, Near Neelam Nagar, Jain Mandir, Mulund (East), Mumbai – 400081, Maharashtra, India |
|
Date of Birth/Age : |
26.02.1979 |
|
Date of Appointment : |
30.09.2015 |
|
PAN No.: |
AGMPB3921H |
|
DIN No.: |
07188861 |
KEY EXECUTIVES
|
Name : |
Mr. Puneet Kapur |
|
Designation : |
Company Secretary |
|
Address : |
C-209, Mercury, 4th Cross Lane, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Appointment : |
16.07.2015 |
|
PAN No.: |
AQVPK3590L |
MAJOR SHAREHOLDERS
AS ON 17.11.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Covestro Deutschland AG |
|
197721154 |
|
Covestro GmbH |
|
9796497 |
|
|
|
|
|
Total |
|
207517651 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Covestro Deutschland GmbH |
|
55000000 |
|
|
|
|
|
Total |
|
55000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20504301%2019-Apr-2018_files/image008.gif)
BUSINESS DETAILS
|
Line of Business : |
The
Company is engaged in manufacture and trading of high-performance materials
for applications in numerous areas of industries like automotive,
construction, electrical and electronics, sports and leisure, packaging and
medical technology sectors. [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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
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||||||||||||||||||||||
|
Bankers : |
· Hongkong and Shanghai Banking Corporation |
|
Auditors : |
|
|
Name : |
MS Price Waterhouse Chartered Accountants |
|
Address : |
2nd Floor, 252, Veer Savarkar Marg, Opposite Shivaji Park, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding
Company : |
· Bayer AG, Germany |
|
|
|
|
Holding Company : |
· Covestro Deutschland AG, Germany (Formerly known as Bayer MaterialScience AG, Germany) |
|
|
|
|
Parties under
Common Control : |
· Bayer Business Services GmbH, Germany · Bayer CropScience Limited, India · Covestro (Hong Kong) Limited, Hongkong (Formerly known as Bayer MaterialScience Limited, Hongkong) · Covestro LLC, USA (Formerly known as Bayer MaterialScience LLC, USA) · Covestro (Taiwan) Limited, Taiwan (Formerly known as Bayer Material Science Limited, Taiwan) · Bayer South East Asia Pte Limited, Singapore (Merged with Covestro (Hong Kong) Limited w.e.f September 2015) · Bayer Technology Services GmbH, Germany · Covestro (Thailand) Co Limited, Thailand · Bayer Vapi Private Limited, India · Sumika Covestro Urethane, Japan (Formerly known as Sumika Bayer Urethane Company Limited, Japan) · Bayer Direct Services GmbH, Germany · Covestro SRL, Italy (Formerly known as Bayer MaterialScience SRL, Italy) · Covestro Polymers (China) Co Limited, China (Formerly known as Bayer Material Science China Co. Limited, China) · Bayer Pharmaceuticals Private Limited, India · Covestro International SA, Switzerland (Formerly known as Bayer International SA, Switzerland) · Covestro (Shanghai) Management Co Limited, China (Formerly known as Bayer Material Science (Shanghai) Management Company Limited, China) · Bayer Business Services Philippines Inc., Philippines · Currenta GmbH & Co OHG, Germany · Bayer Pearl Polyurethanes System LLC, Dubai · Covestro Korea Corporation, Korea (Formerly known as Bayer Material Science Limited, Korea) · Covestro Elastomers SAS |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
309400000 |
Equity Shares |
INR 10/- each |
INR 3094.000 Million |
|
55000000 |
Preference Shares |
INR 10/- each |
INR 550.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 3644.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
207517651 |
Equity Shares |
INR 10/- each |
INR 2075.200
Million |
|
55000000 |
Preference Shares |
INR 10/- each |
INR 550.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 2625.200 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2625.200 |
2625.200 |
2625.200 |
|
(b) Reserves & Surplus |
1608.400 |
460.800 |
445.900 |
|
(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) |
4233.600 |
3086.000 |
3071.100 |
|
|
|
|
|
|
(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 |
29.100 |
25.600 |
21.300 |
|
(d) Long-term
provisions |
325.200 |
283.800 |
275.800 |
|
Total Non-current
Liabilities (3) |
354.300 |
309.400 |
297.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
2249.900 |
3363.900 |
4795.000 |
|
(b) Trade
payables |
2686.500 |
2996.500 |
2281.400 |
|
(c) Other
current liabilities |
334.500 |
246.900 |
222.700 |
|
(d) Short-term
provisions |
88.300 |
42.800 |
28.400 |
|
Total Current
Liabilities (4) |
5359.200 |
6650.100 |
7327.500 |
|
|
|
|
|
|
TOTAL |
9947.100 |
10045.500 |
10695.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1765.600 |
2032.400 |
2184.500 |
|
(ii) Intangible
Assets |
3.100 |
2.400 |
1.700 |
|
(iii)
Capital work-in-progress |
63.100 |
4.500 |
81.400 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
75.500 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
413.100 |
448.500 |
443.400 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2320.400 |
2487.800 |
2711.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
435.200 |
|
(b)
Inventories |
3066.000 |
3200.300 |
3247.700 |
|
(c) Trade
receivables |
3501.200 |
3311.500 |
3099.000 |
|
(d) Cash
and cash equivalents |
0.100 |
58.300 |
212.800 |
|
(e) Short-term
loans and advances |
1059.400 |
987.600 |
990.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
7626.700 |
7557.700 |
7984.700 |
|
|
|
|
|
|
TOTAL |
9947.100 |
10045.500 |
10695.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
16202.800 |
15233.400 |
13669.200 |
|
|
Other Income |
35.500 |
36.400 |
1141.300 |
|
|
TOTAL |
16238.300 |
15269.800 |
14810.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5489.800 |
6239.000 |
6141.700 |
|
|
Purchases of
Stock-in-Trade |
6434.400 |
6147.500 |
5089.300 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
127.000 |
(18.000) |
10.000 |
|
|
Employee benefit expense |
879.200 |
727.400 |
634.300 |
|
|
Other expenses |
1440.500 |
1445.200 |
1431.600 |
|
|
TOTAL |
14370.900 |
14541.100 |
13306.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1867.400 |
728.700 |
1503.600 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
209.800 |
319.000 |
408.900 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1657.600 |
409.700 |
1094.700 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
397.400 |
387.100 |
475.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1260.200 |
22.600 |
619.500 |
|
|
|
|
|
|
|
Less |
TAX |
112.600 |
7.700 |
4.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1147.600 |
14.900 |
615.300 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1150.500 |
1142.700 |
1142.000 |
|
|
TOTAL EARNINGS |
1150.500 |
1142.700 |
1142.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
8535.400 |
9203.100 |
8772.500 |
|
|
Components and spare
parts |
13.000 |
12.100 |
13.500 |
|
|
Capital Goods |
80.900 |
8.600 |
20.500 |
|
|
TOTAL IMPORTS |
8629.300 |
9223.800 |
8806.500 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.53 |
0.07 |
2.98 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1685.300 |
1349.100 |
(327.100) |
|
Net cash flows from (used in) operating activities |
1448.500 |
1346.600 |
(366.700) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
78.87 |
79.35 |
82.75 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.63 |
4.60 |
4.41 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
82.23 |
88.30 |
74.14 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.61 |
0.23 |
0.46 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.02 |
0.36 |
0.66 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.66 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.53 |
1.09 |
1.56 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.27 |
2.15 |
2.39 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.43 |
0.66 |
0.74 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
8.90 |
2.28 |
3.68 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
7.08 |
0.10 |
4.50 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
11.54 |
0.15 |
5.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
27.11 |
0.48 |
20.04 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.42 |
1.14 |
1.09 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.85 |
0.66 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.43 |
0.31 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.86 |
1.28 |
1.83 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.42 |
1.14 |
1.09 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
2625.200 |
2625.200 |
2625.200 |
|
Reserves & Surplus |
445.900 |
460.800 |
1608.400 |
|
Net
worth |
3071.100 |
3086.000 |
4233.600 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
4795.000 |
3363.900 |
2249.900 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
4795.000 |
3363.900 |
2249.900 |
|
Debt/Equity
ratio |
1.561 |
1.090 |
0.531 |
%20PRIVATE%20LIMITED%20-%20504301%2019-Apr-2018_files/image010.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
13669.200 |
15233.400 |
16202.800 |
|
|
|
11.443 |
6.364 |
%20PRIVATE%20LIMITED%20-%20504301%2019-Apr-2018_files/image012.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
13669.200 |
15233.400 |
16202.800 |
|
Profit/ (Loss) |
615.300 |
14.900 |
1147.600 |
|
|
4.50
% |
0.10
% |
7.08
% |
%20PRIVATE%20LIMITED%20-%20504301%2019-Apr-2018_files/image014.gif)
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 |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office
of the company has been shifted from Olympia, First Floor, Central Avenue,
Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India to the present
address w.e.f. 01.01.2015
COMPANY PROFILE
The Company is a company incorporated under The Companies Act, 1956 having its registered office at Central Avenue, Hiranandani Estate, Thane – 400607. The Company is engaged in manufacture and trading of high-performance materials for applications in numerous areas of industries like automotive, construction, electrical and electronics, sports and leisure, packaging and medical technology sectors.
With effect from August 26, 2015, the name of the Company was changed from Bayer Material Science Private Limited to Covestro (India) Private Limited.
RESULTS OF OPERATIONS AND THE STATE OF
COMPANY’S AFFAIRS
The company achieved 5.95 % growth in gross revenue which increased from INR 16172.000 million in FY 2015-16 to INR 17133.800 million in FY 2016-17 and profit after tax stood at INR 1147.700 million from compare to previous year of INR 14.900 million in the Financial Year 2015-2016.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Term loans from banks |
1000.000 |
1500.000 |
|
Working capital loans from banks |
865.000 |
564.900 |
|
Other loans and advances |
384.900 |
1299.000 |
|
|
|
|
|
Total |
2249.900 |
3363.900 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 65.68 |
|
|
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.