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MIRA INFORM REPORT
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Report No. : |
505268 |
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Report Date : |
20.04.2018 |
IDENTIFICATION DETAILS
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Name : |
SHARDA CROPCHEM LIMITED (w.e.f. 18.09.2013) |
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Formerly Known
As : |
SHARDA CROPCHEM PRIVATE LIMITED (w.e.f. 06.09.2013) SHARDA WORLDWIDE EXPORTS PRIVATE LIMITED |
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Registered
Office : |
2nd Floor, Prime Business Park, Dashratlal Joshi Road,
Vile Parle West, Mumbai – 400056, Maharashtra |
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Tel. No.: |
91-22-66782800 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.03.2004 |
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Com. Reg. No.: |
11-145007 |
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Capital
Investment / Paid-up Capital : |
INR 902.205 Million |
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CIN No.: [Company Identification
No.] |
L51909MH2004PLC145007 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAICS0137P1ZZ |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS36859E |
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PAN No.: [Permanent Account No.] |
AAICS0137P |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in export of agrochemicals (technical grade and
formulations) and non-agro products such as conveyor belts, rubber
belts/sheets, dyes and dye intermediates. [Registered Activity] |
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No. of Employees
: |
139 (Approximately) |
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Maximum Credit Limit : |
USD 25000000 |
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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 was incorporated in the year 2004 and it is having excellent
track records. For the financial year 2017, the company has increased its operational
performance as compared to previous year and maintained decent profit margin
of 16.71%. The ratings draw comfort from the sound financial risk profile marked
by healthy networth base along with fair liquidity position. Rating continues to reflect its strong market position driven by
increasing product registrations and a greater presence in regulated markets.
These rating strengths are partially offset by regulatory changes
inherent in the agrochemical industry. Trade relations are fair. Payment terms are reported to be regular and
as per commitments. In view of aforesaid, 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 |
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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 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating: A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
27.10.2017 |
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 20.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-66782800)
LOCATIONS
|
Registered Office /
Corporate Office : |
2nd Floor, Prime Business Park, Dashratlal Joshi Road,
Vile Parle West, Mumbai – 400056, Maharashtra, India |
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Tel. No.: |
91-22-66782800 |
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Fax No.: |
91-22-66782828/ 6678/ 2808 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Ramprakash Vilasrai Bubna |
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Designation : |
Chairman and Managing Director |
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Address : |
501, Pleasant Park, 5th Floor, |
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Date of Birth/Age : |
20.07.1946 |
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Qualification : |
B. Tech., Chemical Engineering |
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Date of Appointment : |
12.03.2004 |
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PAN No.: |
AACPB6260D |
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DIN No.: |
00136568 |
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Other directorship:
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Name : |
Mrs. Sharda Ramprakash Bubna |
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Designation : |
Director |
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Address : |
501, Pleasant Park, 5th Floor, |
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Date of Birth/Age : |
04.05.1953 |
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Date of Appointment : |
01.01.2014 |
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PAN No.: |
AACPB5921B |
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DIN No.: |
00136760 |
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Other directorship:
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Name : |
Mr. Manish Ramprakash Bubna |
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Designation : |
Wholetime Director |
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Address : |
501, Pleasant Park, 5th Floor, |
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Date of Birth/Age : |
30.06.1974 |
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Qualification : |
B. Tech., Chemical Engineering |
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Date of Appointment : |
01.01.2014 |
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PAN No.: |
AAAPB9774C |
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DIN No.: |
00137394 |
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Other directorship:
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Name : |
Mr. Ashish Ramprakash Bubna |
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Designation : |
Wholetime Director |
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Address : |
501, Pleasant Park, 5th Floor, |
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Date of Birth/Age : |
09.10.1972 |
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Qualification : |
B. Com |
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Date of Appointment : |
01.01.2014 |
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DIN No.: |
00945147 |
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Other directorship:
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Name : |
Mr. Shitin Dayalji Desai |
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Designation : |
Director |
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Address : |
Glen Ridge 16, Ridge Road Mumbai - 400006, Maharashtra, India |
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Date of Birth/Age : |
20.03.1947 |
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Date of Appointment : |
09.08.2014 |
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DIN No.: |
00009905 |
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Other directorship:
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Name : |
Shobhan Madhukant Thakore |
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Designation : |
Director |
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Address : |
Flat No. B-114, Floor 11, Plot 696b Somerset House, 61-G, Off
Bhulabhai Desai Road, Mumbai -400026, Maharashtra, India |
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Date of Birth/Age : |
03.07.1947 |
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Date of Appointment : |
09.08.2014 |
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DIN No.: |
00031788 |
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Other directorship:
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Name : |
Mr. Swaminathan Sundararajan Mittur |
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Designation : |
Director |
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Address : |
Ashwarooda, Flat No.11, 2nd Floor, Building No.248, Ambujammal Street,
T.T.K. Salai, Alwarpet Chennai – 600018, Tamilnadu, India |
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Date of Appointment : |
26.07.2011 |
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DIN No.: |
00169775 |
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Other directorship:
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Name : |
Perumal Ramamurthy Srinivasan |
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Designation : |
Director |
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Address : |
25A, Belvedere Court, Sane Gurujimarg, Mahalaxmi, Mumbai - 400011,
Maharashtra, India |
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Date of Birth/Age : |
01.06.1965 |
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Date of Appointment : |
09.08.2014 |
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DIN No.: |
00365025 |
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Other directorship:
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Name : |
Mrs. Urvashi Saxena |
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Designation : |
Director |
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Address : |
2602, 26th Floor, Light Bridge Gladys Alwares Road, Hiranandani
Meadow, Thane West - 400610, Maharashtra, India |
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Date of Birth/Age : |
14.06.1945 |
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Date of Appointment : |
29.09.2011 |
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DIN No.: |
02021303 |
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Other directorship:
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KEY EXECUTIVES
|
Name : |
Ms. Jetkin Navinchandra Gudhka |
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Designation : |
Company Secretary |
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Address : |
E-2, Juhu Apartment, Juhu Road, Santacruz (West) Mumbai - 400049,
Maharashtra, India |
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Date of Birth/Age : |
13.07.1987 |
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Date of Appointment : |
23.02.2011 |
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PAN No.: |
ALEPG6017E |
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Name : |
Conrad David Fernandes |
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Designation : |
Chief Finance Officer |
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Address : |
Flat No. 6, Little Flower No. 7, 28th Road, Bandra (West), Mumbai -
400050, Maharashtra, India |
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Date of Appointment : |
25.01.2016 |
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PAN No.: |
AAAPF7147F |
SHAREHOLDING PATTERN
AS ON 31.03.2018
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
67465371 |
74.78 |
|
(B) Public |
22755124 |
25.22 |
|
Grand Total |
90220495 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
A1) Indian |
|
0.00 |
|
Individuals/Hindu undivided Family |
67465371 |
74.78 |
|
Ramprakash V. Bubna |
14052686 |
15.58 |
|
Sharda R. Bubna |
14052685 |
15.58 |
|
Ashish R. Bubna |
15180000 |
16.83 |
|
Manish R. Bubna |
15180000 |
16.83 |
|
Seema A. Bubna |
4500000 |
4.99 |
|
Anisha R. Bubna |
4500000 |
4.99 |
|
Sub Total A1 |
67465371 |
74.78 |
|
A2) Foreign |
|
0.00 |
|
A=A1+A2 |
67465371 |
74.78 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
B1) Institutions |
|
0.00 |
|
Mutual Funds/ |
11624837 |
12.88 |
|
DSP BLACKROCK EQUITY & BOND FUND |
5884245 |
6.52 |
|
HDFC TRUSTEE COMPANY LTD HDFC MF MONTHLY
INCOME PLAN LONG TERM PLAN |
5525096 |
6.12 |
|
Foreign Portfolio Investors |
7105757 |
7.88 |
|
PINEBRIDGE GLOBAL FUNDS - PINEBRIDGE INDIA
EQUITY FUND |
1626675 |
1.80 |
|
GOLDMAN SACHS INDIA LIMITED |
1658480 |
1.84 |
|
PINEBRIDGE INVESTMENTS GF MAURITIUS LIMITED |
2238355 |
2.48 |
|
Financial Institutions/ Banks |
6232 |
0.01 |
|
Sub Total B1 |
18736826 |
20.77 |
|
B2) Central Government/ State
Government(s)/ President of India |
|
0.00 |
|
B3) Non-Institutions |
|
0.00 |
|
Individual share capital upto INR 0.200
Million |
2550769 |
2.83 |
|
Individual share capital in excess of INR
0.200 Million |
310541 |
0.34 |
|
NBFCs registered with RBI |
253013 |
0.28 |
|
Any Other (specify) |
903975 |
1.00 |
|
Trusts |
300 |
0.00 |
|
Non-Resident Indian (NRI) |
150419 |
0.17 |
|
Clearing Members |
311635 |
0.35 |
|
Bodies Corporate |
441621 |
0.49 |
|
Sub Total B3 |
4018298 |
4.45 |
|
B=B1+B2+B3 |
22755124 |
25.22 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in export of agrochemicals (technical grade
and formulations) and non-agro products such as conveyor belts rubber
belts/sheets dyes and dye intermediates. [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 : |
139 (Approximately) |
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Bankers : |
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Facilities : |
|
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Auditors : |
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|
Name : |
S R B C and Company LLP Chartered Accountants |
|
Address : |
14th Floor The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai – 400028 Maharashtra India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
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|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
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|
|
Subsidiaries: |
|
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|
|
|
Enterprises owned or
significantly influenced by key management personnel or their relatives: |
|
|
|
|
|
Associate: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105000000 |
Equity Shares |
INR 10/- each |
INR 1050.000 Million |
|
|
|
|
|
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90220495 |
Equity Shares |
INR 10/- each |
INR 902.205 Million |
|
|
|
|
|
Reconciliation of shares outstanding at the
beginning and at the end of the reporting year
|
Equity Shares |
Number
of Shares |
Amount
|
|
At the beginning of the year |
90220495 |
902.205 |
|
Outstanding at the end of the year |
90220495 |
902.205 |
Terms/rights
attached to equity shares
The Company has one class of equity shares having a par value of INR 10 each. Each shareholder is eligible for dividend and one vote per share held. The dividend proposed by the Board of Directors is subject to approval of shareholders in the ensuing Annual General Meeting.
In the event of liquidation the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts in proportion to their shareholding.
Aggregate number of bonus shares issued
during the period of five years immediately preceding the reporting date
|
Name of
Shareholder |
Number
of Shares |
|
|
|
|
Equity shares allotted as fully paid bonus shares by capitalisation of securities premium during FY 2011-12 |
72176396 |
Details of
shareholders holding more than 5% shares in the Company
|
Equity Shares |
Number
of Shares |
% holding in the class |
|
Mr. Ramprakash V. Bubna |
14052686 |
15.58% |
|
Mrs. Sharda R. Bubna |
14052685 |
15.58% |
|
Mr. Ashish R. Bubna* |
15180000 |
16.83% |
|
Mr. Manish R. Bubna** |
15180000 |
16.83% |
|
DSP Blackrock Mutual Fund |
6051565 |
6.71% |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
902.205 |
902.205 |
902.205 |
|
(b) Reserves & Surplus |
7996.150 |
6469.815 |
4967.279 |
|
(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) |
8898.355 |
7372.020 |
5869.484 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
673.319 |
419.238 |
215.911 |
|
(c) Other long term
liabilities |
5.524 |
9.005 |
0.000 |
|
(d) long-term provisions |
9.342 |
7.248 |
4.316 |
|
Total
Non-current Liabilities (3) |
688.185 |
435.491 |
220.227 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
17.462 |
378.253 |
|
(b) Trade payables |
5237.189 |
3944.689 |
0.000 |
|
(c) Other current liabilities |
427.399 |
139.744 |
2470.521 |
|
(d) Short-term provisions |
4.715 |
3.790 |
290.219 |
|
Total
Current Liabilities (4) |
5669.303 |
4105.685 |
3138.993 |
|
|
|
|
|
|
TOTAL |
15255.843 |
11913.196 |
9228.704 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5.224 |
7.963 |
8.298 |
|
(ii) Intangible Assets |
2085.017 |
1283.662 |
864.339 |
|
(iii) Capital work-in-progress |
13.281 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
2310.741 |
2098.227 |
1487.496 |
|
(b) Non-current Investments |
14.531 |
13.698 |
103.057 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
137.719 |
198.225 |
364.694 |
|
(e) Other Non-current assets |
458.338 |
417.117 |
0.000 |
|
Total
Non-Current Assets |
5024.851 |
4018.892 |
2827.884 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
606.832 |
901.763 |
858.763 |
|
(b) Inventories |
2556.219 |
1293.126 |
1120.884 |
|
(c) Trade receivables |
6055.370 |
5122.201 |
3470.519 |
|
(d) Cash and cash equivalents |
846.209 |
533.212 |
665.169 |
|
(e) Short-term loans and
advances |
0.575 |
0.653 |
279.564 |
|
(f) Other current assets |
165.787 |
43.349 |
5.921 |
|
Total
Current Assets |
10230.992 |
7894.304 |
6400.820 |
|
|
|
|
|
|
TOTAL |
15255.843 |
11913.196 |
9228.704 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
11292.070 |
9344.704 |
|
|
Other Income |
|
555.224 |
631.190 |
|
|
TOTAL
|
|
11847.294 |
9975.894 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
4283.707 |
3155.166 |
|
|
Purchases of Stock-in-Trade |
|
2753.026 |
2801.099 |
|
|
Changes in inventories of
finished goods work-in-progress and Stock-in-Trade |
|
(38.135) |
(223.271) |
|
|
Employees benefits expense |
|
225.420 |
204.337 |
|
|
Other expenses |
|
1361.686 |
1122.361 |
|
|
TOTAL |
|
8585.704 |
7059.692 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST TAX
DEPRECIATION AND AMORTISATION |
|
3261.590 |
2916.202 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.404 |
5.416 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX DEPRECIATION AND AMORTISATION |
|
3261.186 |
2910.786 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
561.415 |
349.355 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
2699.771 |
2561.431 |
|
|
|
|
|
|
|
Less |
TAX |
|
812.314 |
839.822 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
1887.457 |
1721.609 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export of goods on F.O.B. basis |
|
NA |
9585.900 |
|
|
Share of income from task-force |
|
NA |
3.787 |
|
|
Interest received from subsidiaries/customers |
|
NA |
1.539 |
|
|
Dividend from subsidiary company |
|
NA |
351.272 |
|
|
TOTAL
EARNINGS |
|
NA |
9942.498 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Traded goods |
|
NA |
2985.437 |
|
|
Raw materials |
|
NA |
2652.990 |
|
|
TOTAL
IMPORTS |
|
NA |
5638.427 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
20.92 |
19.08 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
7693.165 |
|
|
|
Other Income |
|
|
276.930 |
|
|
|
TOTAL |
|
|
7970.095 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
|
2220.139 |
|
|
|
Purchase of traded goods |
|
|
2602.920 |
|
|
|
(Increase)/decrease in inventories of traded and finished goods |
|
|
(9.949) |
|
|
|
Employee benefit expenses |
|
|
171.297 |
|
|
|
Other expenses |
|
|
1246.790 |
|
|
|
TOTAL |
|
|
6231.197 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST TAX DEPRECIATION AND AMORTISATION |
|
|
1738.898 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
5.009 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX DEPRECIATION AND AMORTISATION |
|
|
1733.889 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
232.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX AND PRIOR PERIOD
ADJUSTMENTS |
|
|
1501.874 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
520.146 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
AND BEFORE PRIOR PERIOD ADJUSTMENTS |
|
|
981.728 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD ADJUSTMENTS (NET OF TAX) |
|
|
4.248 |
|
|
|
|
|
|
|
|
|
|
PROFIT FOR THE YEAR |
|
|
977.480 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on F.O.B. basis |
|
|
7664.648 |
|
|
|
Share of income from task-force |
|
|
8.986 |
|
|
|
Interest received from subsidiaries/customers |
|
|
16.920 |
|
|
TOTAL EARNINGS |
|
|
7690.554 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded goods |
|
|
2587.360 |
|
|
|
Raw materials |
|
|
2672.610 |
|
|
TOTAL IMPORTS |
|
|
5259.970 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
10.83 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
1609.212 |
2084.288 |
780.914 |
|
Net cash flow from operating activities |
1230.642 |
1415.362 |
142.382 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
2729.950 |
2215.680 |
2694.790 |
|
Total Expenditure |
2200.610 |
1836.140 |
2249.440 |
|
PBIDT (Excluding Other Income) |
529.340 |
379.540 |
445.350 |
|
Other income |
118.860 |
9.980 |
240.340 |
|
Operating Profit |
648.200 |
389.520 |
685.690 |
|
Interest |
0.120 |
0.680 |
1.550 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
648.080 |
388.840 |
684.150 |
|
Depreciation |
154.360 |
175.500 |
183.000 |
|
Profit Before Tax |
493.720 |
213.350 |
501.150 |
|
Tax |
160.280 |
70.440 |
148.850 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
333.440 |
142.910 |
352.300 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
333.440 |
142.910 |
352.300 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
195.73 |
200.07 |
164.66 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.86 |
1.82 |
2.22 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
271.66 |
241.73 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.28 |
2.26 |
1.55 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.74 |
0.86 |
0.74 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.37 |
0.34 |
0.34 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.06 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.64 |
0.56 |
0.53 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.50 |
0.46 |
0.40 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
8073.24 |
538.44 |
347.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
16.71 |
18.42 |
12.71 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
12.37 |
14.45 |
10.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
21.21 |
23.35 |
16.65 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.80 |
1.92 |
2.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.35 |
1.61 |
1.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.58 |
0.62 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.02 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.80 |
1.92 |
2.04 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 408/- |
FINANCIAL ANALYSIS
[all figures are
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 |
902.205 |
902.205 |
902.205 |
|
Reserves & Surplus |
4967.279 |
6469.815 |
7996.150 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5869.484 |
7372.020 |
8898.355 |
|
|
|
|
|
|
Long-Term Borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term Borrowings |
378.253 |
17.462 |
0.000 |
|
Total
borrowings |
378.253 |
17.462 |
0.000 |
|
Debt/Equity
ratio |
0.064 |
0.002 |
0.000 |
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 |
7693.165 |
9344.704 |
11292.070 |
|
|
|
21.468 |
20.839 |
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
|
7693.165 |
9344.704 |
11292.070 |
|
Profit |
977.480 |
1721.609 |
1887.457 |
|
|
12.71% |
18.42% |
16.71% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
902.205 |
902.205 |
|
(b) Reserves & Surplus |
|
8696.171 |
7152.285 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Non-controlling interests |
|
0.197 |
0.939 |
|
Total
Shareholders’ Funds (1) + (2) |
|
9598.573 |
8055.429 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
807.317 |
548.390 |
|
(c) Other long term
liabilities |
|
5.524 |
9.005 |
|
(d) long-term provisions |
|
11.622 |
9.262 |
|
Total
Non-current Liabilities (3) |
|
824.463 |
566.657 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2.411 |
19.998 |
|
(b) Trade payables |
|
4574.271 |
3837.320 |
|
(c) Other current liabilities |
|
1491.542 |
830.356 |
|
(d) Short-term provisions |
|
5.025 |
3.983 |
|
Total
Current Liabilities (4) |
|
6073.249 |
4691.657 |
|
|
|
|
|
|
TOTAL |
|
16496.285 |
13313.743 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
9.562 |
14.162 |
|
(ii) Intangible Assets |
|
2085.031 |
1283.761 |
|
(iii) Capital work-in-progress |
|
13.281 |
0.000 |
|
(iv) Intangible assets under
development |
|
2310.741 |
2098.468 |
|
Goodwill |
|
3.948 |
4.036 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
33.773 |
21.615 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.506 |
|
(e) Other Non-current assets |
|
503.565 |
465.468 |
|
Total
Non-Current Assets |
|
4959.901 |
3888.016 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
606.832 |
901.763 |
|
(b) Inventories |
|
2877.709 |
1598.354 |
|
(c) Trade receivables |
|
6725.600 |
6199.786 |
|
(d) Cash and cash equivalents |
|
1079.564 |
648.741 |
|
(e) Short-term loans and
advances |
|
0.575 |
0.601 |
|
(f) Other current assets |
|
246.104 |
76.482 |
|
Total
Current Assets |
|
11536.384 |
9425.727 |
|
|
|
|
|
|
TOTAL |
|
16496.285 |
13313.743 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
13992.268 |
12221.155 |
|
|
Other Income |
|
156.848 |
254.530 |
|
|
TOTAL
|
|
14149.116 |
12475.685 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
4283.707 |
3155.694 |
|
|
Purchases of Stock-in-Trade |
|
4744.383 |
4940.851 |
|
|
Changes in inventories of
finished goods work-in-progress and Stock-in-Trade |
|
(54.397) |
(254.094) |
|
|
Employees benefits expense |
|
288.767 |
272.960 |
|
|
Other expenses |
|
1606.071 |
1391.378 |
|
|
TOTAL |
|
10868.531 |
9506.789 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST TAX
DEPRECIATION AND AMORTISATION |
|
3280.585 |
2968.896 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.477 |
5.518 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX DEPRECIATION AND AMORTISATION |
|
3280.108 |
2963.378 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
562.590 |
350.532 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
2717.518 |
2612.846 |
|
|
|
|
|
|
|
Less |
TAX |
|
813.874 |
860.885 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
1903.644 |
1751.961 |
|
|
|
|
|
|
|
|
Other
Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
Items
that will not be reclassified to the statement of profit or loss |
|
|
|
|
|
|
|
|
|
|
|
Remeasurement of the defined employee benefit liability/assets |
|
0.155 |
(2.097) |
|
|
|
|
|
|
|
|
Income tax relating to items that will not be reclassified to profit or loss |
|
0.271 |
0.715 |
|
|
|
|
|
|
|
|
Items
that will be reclassified to the statement of profit or loss |
|
|
|
|
|
|
|
|
|
|
|
Exchange differences on translation of financial statement
of foreign operations |
|
(0.043) |
68.468 |
|
|
|
|
|
|
|
|
Total
comprehensive income for the year net of tax |
|
0.383 |
67.086 |
|
|
|
|
|
|
|
|
Total
comprehensive income for the year |
|
1904.027 |
1819.047 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
21.11 |
19.41 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
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 |
Yes |
|
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 |
CORPORATE INFORMATION
Subject is a public limited company incorporated in India under the provisions of the Companies Act applicable in India. Its shares are listed on two recognised stock exchanges in India. The Company is principally engaged in export of agrochemicals (technical grade and formulations) and non-agro products such as conveyor belts rubber belts/sheets dyes and dye intermediates to various countries across the world. The registered office of the Company is located at Domnic Holm 29th Road Bandra (West) Mumbai 400050. The financial statements were authorised for issue in accordance with a resolution passed at the meeting of the Board of Directors held on May 22 2017.
OPERATIONAL
PERFORMANCE AND FUTURE OUTLOOK:
The Company achieved an all time performance high in terms of both operating revenues and net profit. The Company’s consolidated revenue from operations increased by 14.5% to INR 13992.268 Million in FY 2017. This was possible on account of growth across regions led by strong growth in the NAFTA and RoW regions. The Company received 409 new registrations during the year of which 191 are in the European Union region.
Gross margins and EBITDA margins (excluding foreign exchange impact) were stable at 35.9% and 22.3% respectively inspite of tough market conditions. Depreciation and amortisation expense was higher due to capitalisation of new registrations. Tight control over fixed operating and non-operating expenses enabled achieve PAT growth of 8.7%.
The Company shall continue to focus on investment in product registrations in developed countries and high growth agricultural driven economies. The Company strongly believes that the future of agrochemicals business is in obtaining early product registrations due to the high entry barrier for new entrants.
MANAGEMENT DISCUSSION
AND ANALYSIS
GLOBAL ECONOMY
OVERVIEW
The Global economy grew at 3.1% in 2016 with expectations to recover to 3.4% in 2017. It continues to face subdued growth owing to low commodity prices and low inflation rates stagnant growth in advanced economies and geo-political and political uncertainties.
Although the market reaction to the Brexit shock was reassuringly orderly the ultimate impact remains very unclear as the fate of institutional and trade arrangements between the United Kingdom and the European Union remains uncertain. Financial market sentiment toward emerging market economies has improved with expectations of lower interest rates in advanced economies reduced concern about China’s near-term prospects following policy support to growth and some firming of commodity prices.
But prospects differ sharply across countries and regions with emerging Asia in general and India in particular showing growth and sub-Saharan Africa experiencing a sharp low down. In advanced economies a subdued outlook subject to sizable uncertainty and downside risks may fuel further political discontent as anti-integration policy platforms are gaining more traction. Several emerging markets and developing economies still face daunting policy challenges in adjusting to weaker commodity prices. These worrisome prospects make the need for a broad-based policy response to raise growth and manage vulnerabilities more than ever.
Agrochemicals
Industry
The Global population is expected to cross 9 bn by 2050 and this rising population will create increase in food demand. To meet the food and nutrition needs of a growing population requires a sustainable approach that puts thrust on increasing productivity against the background of lower yields and decreasing farm sizes. It further requires a push from all stakeholders – the farmer the government and the agrochemical industry collectively so that the growing needs of the nation are met. Approximately 25% of the global crop output is lost due to attacks by pests weeds and diseases which is a major set back for the farming sector. Given this scenario the agrochemical industry has an increasing role to play.
Agrochemicals can play a major role in enhancing productivity and crop protection post-harvest. The role of crop protection chemicals is not limited to protection of pests and diseases that threaten the food supply; they help in yield enhancement as well. Use of crop protection chemicals can increase crop productivity by 25-50% by mitigating crop loss due to pest attacks. Broadly agrochemicals are classified into insecticides fungicides herbicides and other pesticides. Insecticides are used to limit insects below a certain level thereby improving crop yields by preventing damage such as plant defoliation and boring of parts of the plant. Fungicides are agrochemicals that control fungal diseases by either inhibiting or killing the causative fungi thereby improves productivity reduces blemishes on crop and improves storage life and quality of harvested crop. Herbicides are the agrochemicals used to kill unwanted plants. Biopesticides is an emerging category and is currently is a small proportion of the market but has a huge growth potential considering its non-toxic nature.
Global economies have understood that there is urgent need of improving agricultural productivity which is driving significant research efforts across the various aspects including crop protection chemicals. Every year Global agrochemicals players spend a sizable proportion of their revenue towards development of novel crop protection molecules. At the same time generic and off patent proprietary agrochemicals also constitute a significant part of the market.
BUSINESS OVERVIEW
Sharda Cropchem Limited is a fast growing global agrochemicals company with an asset light business model. Sharda Cropchem is engaged in the marketing and distribution of a wide range of formulations and generic active ingredients globally. The geography from where the Company’s major revenues comes from are highly developed European countries and US markets. Over the years it has also gained significant presence in other regulated markets such as LATAM and Rest of the World. The Company operates within two business verticals namely agrochemicals business and nonagrochemicals business.
CONTINGENT
LIABILITIES
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
|
|
|
|
Letters of credit |
603.299 |
302.028 |
|
Service tax matter |
78.514 |
78.514 |
|
Total |
681.813 |
380.542 |
|
Note: Future cash flows in respect of Service tax matter if any is determinable only on receipt of the judgement/decision pending with relevant authorities. The Company does not expect the outcome of the matter stated above to have a material adverse effect on the Company’s financial condition result of operations or cash flows. |
||
STATEMENT OF
UN-AUDITED RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2017
(INR IN MILLION)
|
Particulars |
Quarter
Ended |
Nine months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Income
|
|
|
|
|
Revenue
Income from Operations |
2694.790 |
2215.681 |
7640.419 |
|
Other
Income |
240.344 |
9.982 |
369.184 |
|
Total Income from Operations |
2935.134 |
225.663 |
8009.603 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost
of materials consumed |
1048.093 |
812.777 |
3150.609 |
|
Purchase of stock in trade |
1640.266 |
695.209 |
3858.524 |
|
Changes
in inventories of finished goods work-in-progress
and traded goods |
(889.749) |
(73.365) |
(1959.845) |
|
Employee
benefits expense |
60.250 |
50.079 |
166.238 |
|
Finance
Costs |
1.551 |
0679 |
2.351 |
|
Depreciation
and amortisation expense |
182.999 |
175.500 |
512.855 |
|
Other
expenses |
390.576 |
351.436 |
1070.650 |
|
Total Expenses |
2433.986 |
2012.314 |
6801.382 |
|
Profit before tax |
501.148 |
213.349 |
1208.221 |
|
Tax
expense |
|
|
|
|
Current
tax |
161.523 |
84.256 |
388.564 |
|
Deferred
tax |
(12.670) |
(13.819) |
(8.994) |
|
Total tax expenses |
148.853 |
70.437 |
379.570 |
|
Net profit for the period |
352.295 |
142.912 |
828.651 |
|
Other
comprehensive Income |
|
|
|
|
Items
that will not be reclassified to profit or loss |
1.246 |
(0.117) |
0.163 |
|
Income
tax relating to items that will not be reclassified to profit or loss |
(0.405) |
0.400 |
(0.052) |
|
Total comprehensive income |
0.841 |
(0.077) |
0.111 |
|
Total comprehensive income for the
period |
353.136 |
142.835 |
828.762 |
|
Paid - up Equity Share Capital (Face value of INR 10/- per share) |
902.205 |
902.205 |
902.205 |
|
Earnings Per Share (EPS) |
|
|
|
|
Basic and diluted EPS |
3.90 |
1.58 |
9.18 |
NOTE:
1) The aforesaid unaudited standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on January 25, 2018. The statutory auditors have carried out a limited review of these results.
2) One of the segments of the Company, viz "Agrochemicals" is
seasonal in nature and is impacted by cropping pattern and weather conditions across
the globe. Accordingly, quarterly figures are not representative of the other
quarters and full year's performance.
3) Other income / other expenses include the following:
|
Particulars |
Quarter
Ended |
Nine months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Foreign exchange (gain)/ loss included in other income |
(41.691) |
0.829 |
(136.138) |
|
Foreign exchange (gain)/ loss included in other expenses |
-- |
-- |
-- |
STANDALONE SEGMENT-WISE REVENUE RESULTS ASSETS LIABILITIES AND CAPITAL
EMPLOYED
|
Particular |
Quarter
Ended |
Nine months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Segment Revenue |
|
|
|
|
2688.035 |
2197.467 |
7611.428 |
|
b. Belts |
6.755 |
18.214 |
28.991 |
|
Net Sales / Income
from Operations |
2694.790 |
2215.681 |
7640.419 |
|
|
|
|
|
|
Segment Result |
|
|
|
|
309.698 |
229.631 |
1013.580 |
|
b. Belts |
(1.484) |
1.303 |
(1.403) |
|
Total |
308.214 |
230.934 |
1012.177 |
|
Less: i) Finance Cost |
(1.529) |
(0.679) |
(2.326) |
|
ii) un-allocable expenditure |
(4.190) |
(27.716) |
(34.673) |
|
iv) un-allocable income |
198.653 |
10.810 |
233.046 |
|
Total Profit/(Loss)
before tax |
501.148 |
213.349 |
1208.221 |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
15551.466 |
12770.612 |
15551.466 |
|
b. Belts |
1.633 |
0.490 |
1.633 |
|
1500.555 |
1749.653 |
1500.555 |
|
Total |
17053.654 |
14520.755 |
17053.654 |
|
|
|
|
|
|
Segment Liabilities
|
|
|
|
|
6593.782 |
4433.263 |
6593.782 |
|
b. Belts |
6.555 |
10.992 |
6.555 |
|
906.641 |
702.519 |
906.641 |
|
Total |
7506.978 |
5146.774 |
7506.978 |
|
|
|
|
|
|
Net Capital
Employed |
9546.676 |
9373.981 |
9546.676 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G82386632 |
100165286 |
UNION BANK OF
INDIA |
08/03/2018 |
- |
- |
500000000.0 |
OVERSEAS
BRANCH,UNION BANK BHAVAN,GROUND FLOOR,239,VIDHAN BHAVAN MARG,NARIMAN
POINT,MUMBAIMH400021IN |
|
2 |
B28181501 |
10324025 |
UNION BANK OF INDIA |
12/12/2011 |
- |
- |
50000000.0 |
OVERSEAS BRANCH,
UNION BANK BHAVAN239, VIDHAN BHAVAN MARG, NARIMAN POINTMUMBAIMH400021IN |
|
3 |
G50188986 |
90145411 |
UNION BANK OF
INDIA |
21/09/2004 |
14/07/2017 |
- |
2291000000.0 |
OVERSEAS BRANCH,UNION
BANK BHAVAN,GROUND FLOOR,239,VIDHAN BHAVAN MARG,NARIMAN
POINT,MUMBAIMH400021IN |
|
4 |
B11914728 |
10110139 |
STANDARD CHARTERED
BANK |
19/06/2008 |
- |
06/05/2011 |
257400000.0 |
90, M G
ROAD,FORTMUMBAIMH400001IN |
FIXED ASSETS:
Tangible Assets
- Office equipments
- Furniture and fixtures
- Motor cars
- Computers
Intangible
Assets
- Computer Software
- Product Registration
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 65.78 |
|
|
1 |
INR 93.42 |
|
Euro |
1 |
INR 81.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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.