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|
MIRA INFORM REPORT
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Report No. : |
505353 |
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Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
AGRIMAS CHEMICALS LIMITED [w.e.f.17.01.1995] |
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Formerly Known
As : |
AGRIMAS CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
Plot No. H-2, MIDC Industrial Estate, Taloja, District Raigad -
410208, Maharashtra |
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Tel. No.: |
91-22-27412365/ 27411146 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
03.07.1973 |
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Com. Reg. No.: |
11-016649 |
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Capital
Investment / Paid-up Capital : |
INR 74.786
Million |
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|
|
CIN No.: [Company Identification
No.] |
L99999MH1973PLC016649 |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCA4657L |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. [Note: The
company got delisted from BSE on 2nd July 2004.] |
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Line of Business
: |
Subject is engaged in the Manufacturing and Trading in Pesticides,
Insecticides and Fertilizers and Job Work carried for refilling of
Pesticides.
[Registered Activity] |
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|
|
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 619700 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is engaged in Manufacturing of Agro Chemical Products. The
company was incorporated in the year 1973 and is based in Raigad, Maharashtra.
It is an established company having satisfactory track record. For the financial year ended 2017, revenue and profit of the company
has sharply declined. However, the company possesses an acceptable financial profile marked
by healthy networth base along with fair debt level and favourable gap
between trade payables to its trade receivables. The rating also takes into consideration company’s long standing track
record of business operation. Trade relations are reported as fair. Business is active. Payment
terms are seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. NOTE: The company got
delisted from BSE on 2nd July 2004. |
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 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
05.04.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
05.04.2018 |
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 25.04.2018
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. Jatin Sharma |
|
Designation : |
Purchase Department |
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Contact No.: |
91-9827337006 |
|
Date : |
23.04.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. H-2, MIDC Industrial Estate, Taloja, District Raigad -
410208, Maharashtra, India |
|
Tel. No.: |
91-22-27412365/ 27411146 |
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Mobile No.: |
91-9827337006 (Mr. Jatin Sharma) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office |
7, Community Centre, 2nd Floor, East of Kailash, New Delhi-110065, India |
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Tel. No.: |
91-11-49361200/ 49361201 |
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Fax No.: |
91-11-26215405 |
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Marketing Office |
812-A, 8th Floor, ILD Trade Center, Sector 47, Sohna Road, Gurugram - 122001, Haryana, India |
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Tel. No.: |
91-124-4507130/ 31 |
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Factory 2 : |
A-73, Industrial Area, Sikanderabad, District Bulandshar - 203205, Uttar Pradesh, India |
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Tel. No.: |
91-5732-221976/ 224404 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Gnanumuthu Paul Lamech |
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Designation : |
Managing Director |
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Address : |
Flat No.15, Arabi D Block Tarangini Apartments, Mogappair, Chennai – 600058, Tamilnadu, India |
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Date of Birth/Age : |
30.10.1938 |
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Qualification : |
B.SC (HONS) IN |
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Date of Appointment : |
27.06.2005 |
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PAN No.: |
AGVPP1143Q |
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DIN No.: |
01232720 |
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Other Directorship:
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Name : |
Ms. Vanessa Keishing |
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Designation : |
Director |
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Address : |
Lamlongei Mantripukhri Imphal (East), Imphal – 795002, Manipur, India |
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Date of Birth/Age : |
16.11.1976 |
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Qualification : |
Bachelors of Arts |
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Date of Appointment : |
27.06.2005 |
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DIN No.: |
01287959 |
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Other Directorship:
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Name : |
Mr. Neeraj Tewari |
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Designation : |
Director |
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Address : |
E-26, Sector 52, Noida, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
14.09.1957 |
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Qualification : |
Master degree in Science |
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Date of Appointment : |
08.12.2015 |
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DIN No.: |
07361362 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Jatin Sharma |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
65.95 |
|
Promoters – Body Corporate |
7.69 |
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Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
4.90 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Foreign National (other than NRI) |
0.57 |
|
Public/Other than promoters – Banks |
1.36 |
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Public/Other than promoters - Body Corporate |
19.53 |
|
|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Manufacturing and Trading in
Pesticides, Insecticides and Fertilizers and Job Work carried for refilling of
Pesticides.
[Registered Activity] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· State Bank of Mysore Sushant Lok, Centre Point A Block, Sushant Lok, Phase- I, Gurgaon - 122001, Haryana, INDIA |
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Facilities : |
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Auditors : |
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Name : |
Mandhania and Associates Chartered Accountants |
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Address : |
6-A, PIL Court, 6th Floor,111, Maharshi Karve Road, Churchgate, Mumbai-400020, Maharashtra, India |
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PAN No.: |
AAAFM1924H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Coromandel Agrico Private Limited [U74899UP1998PTC064041] · Vithaj Agrichem Industries Private Limited [U01135GJ1982PTC005109] · Coromandel Indag Products India Limited [U24231TN1983PLC010117] · Sankan Travels Private Limited [U74899DL2000PTC103588] · Sime Coromandel Energy Private Limited [U31908DL2007PTC162361] · Dream Tech Exports Private Limited · Mara Securities Private Limited · Murray Investment and Finance Private Limited · Pasaumai Irrigation Limited · Priston Builders Private Limited · RND Investment Private Limited · Simba Securities Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
INR 10/- each |
INR 120.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11050000 |
Equity Shares |
INR 10/- each |
INR 110.500
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6288133 |
Equity Shares [Fully Paid] |
INR 10/- each |
INR 62.881
Million |
|
4761867 |
Equity Shares [Not Fully Paid] |
INR 10/- each |
INR 47.619
Million |
|
|
Less: Calls Unpaid |
|
INR 35.714
Million |
|
|
|
|
|
|
|
Total |
|
INR 74.786 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 |
74.786 |
74.786 |
74.786 |
|
(b) Reserves and Surplus |
142.124 |
141.615 |
139.480 |
|
(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) |
216.910 |
216.401 |
214.266 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.512 |
2.958 |
4.451 |
|
(b) Deferred tax liabilities (Net) |
2.247 |
0.765 |
0.813 |
|
(c) Other long-term
liabilities |
13.851 |
22.120 |
23.778 |
|
(d) long-term
provisions |
8.857 |
8.471 |
6.942 |
|
Total Non-current
Liabilities (3) |
26.467 |
34.314 |
35.984 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
303.885 |
315.002 |
227.719 |
|
(b) Trade
payables |
245.333 |
251.699 |
272.215 |
|
(c) Other current
liabilities |
95.531 |
81.404 |
82.353 |
|
(d) Short-term
provisions |
5.500 |
6.146 |
13.157 |
|
Total Current
Liabilities (4) |
650.249 |
654.251 |
595.444 |
|
|
|
|
|
|
TOTAL |
893.626 |
904.966 |
845.694 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
43.431 |
48.491 |
53.595 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
3.430 |
2.913 |
2.913 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
18.461 |
18.461 |
18.461 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term
loans and advances |
25.580 |
28.926 |
31.688 |
|
(e) Other Non-current
assets |
8.078 |
9.372 |
8.078 |
|
Total Non-Current
Assets |
98.980 |
108.163 |
114.735 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
218.809 |
326.416 |
328.616 |
|
(c) Trade
receivables |
511.212 |
411.561 |
352.183 |
|
(d) Cash and bank
balances |
39.540 |
40.806 |
29.685 |
|
(e)
Short-term loans and advances |
24.764 |
17.703 |
20.415 |
|
(f) Other
current assets |
0.321 |
0.317 |
0.060 |
|
Total
Current Assets |
794.646 |
796.803 |
730.959 |
|
|
|
|
|
|
TOTAL |
893.626 |
904.966 |
845.694 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
869.548 |
1205.081 |
1263.927 |
|
|
|
Other Income |
13.677 |
5.112 |
4.381 |
|
|
|
TOTAL (A) |
883.225 |
1210.193 |
1268.308 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials
Consumed |
417.162 |
547.718 |
722.127 |
|
|
|
Purchases of
Stock-in-Trade |
140.734 |
381.980 |
273.722 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
68.994 |
(34.890) |
(48.599) |
|
|
|
Employee benefit expense |
76.201 |
90.789 |
93.916 |
|
|
|
Other expenses |
123.489 |
169.043 |
151.633 |
|
|
|
TOTAL (B) |
826.580 |
1154.640 |
1192.799 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
56.645 |
55.553 |
75.509 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
46.400 |
43.067 |
35.699 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.245 |
12.486 |
39.810 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.254 |
5.899 |
5.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
4.991 |
6.587 |
34.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.483 |
4.451 |
13.613 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.508 |
2.136 |
20.487 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
51.548 |
47.703 |
59.828 |
|
|
|
Traded Goods |
155.407 |
95.459 |
0.000 |
|
|
TOTAL IMPORTS |
206.955 |
143.162 |
59.828 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
0.07 |
0.29 |
2.74 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.445 |
1.493 |
1.428 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
17.161 |
(68.972) |
39.696 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
48.121 |
(49.332) |
24.070 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
214.59 |
124.66 |
101.70 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.70 |
2.93 |
3.59 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
160.51 |
98.82 |
99.77 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.26 |
0.17 |
0.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.21 |
1.08 |
1.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.73 |
0.73 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.41 |
1.48 |
1.09 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.00 |
3.02 |
2.78 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.22 |
0.24 |
0.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.22 |
1.29 |
2.12 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.06 |
0.18 |
1.62 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.06 |
0.24 |
2.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.23 |
0.99 |
9.56 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.22 |
1.22 |
1.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.89 |
0.72 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.24 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.10 |
4.27 |
3.12 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.22 |
1.22 |
1.23 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
74.786 |
74.786 |
74.786 |
|
Reserves & Surplus |
139.480 |
141.615 |
142.124 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
214.266 |
216.401 |
216.910 |
|
|
|
|
|
|
Long-term borrowings |
4.451 |
2.958 |
1.512 |
|
Short term borrowings |
227.719 |
315.002 |
303.885 |
|
Current maturities of
long-term debts |
1.428 |
1.493 |
1.445 |
|
Total
borrowings |
233.598 |
319.453 |
306.842 |
|
Debt/Equity
ratio |
1.090 |
1.476 |
1.415 |
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 |
1263.927 |
1205.081 |
869.548 |
|
|
|
(4.656) |
(27.843) |
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 |
1263.927 |
1205.081 |
869.548 |
|
Profit/ (Loss) |
20.487 |
2.136 |
0.508 |
|
|
1.62
% |
0.18
% |
0.06
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C58246117 |
10274158 |
STATE BANK OF MYSORE |
21/02/2011 |
29/05/2015 |
- |
430000000.0 |
SUSHANT LOK, CENTRAL POINT, A-BLOCKSUSHANT LOK PHASE-1GURGAONHR122001IN |
|
2 |
B10335420 |
10103707 |
HDFC BANK LIMITED |
31/08/2007 |
22/11/2010 |
25/03/2011 |
70000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
B10335131 |
10101106 |
CENTURION BANK OF PUNJAB LIMITED |
30/08/2007 |
- |
25/03/2011 |
25000000.0 |
M-61(MARKET)GREATER KAILASH - IINEW DELHIDL110048IN |
|
4 |
A85070373 |
80028607 |
GRINDLAYS BANK P.L.C. |
11/06/1984 |
- |
11/05/2010 |
7500000.0 |
90 MAHATMA GANDHI ROADMUMBAIMH400023IN |
|
5 |
A55599526 |
80028617 |
CANARA BANK |
21/12/1984 |
- |
09/01/2009 |
10000000.0 |
VEPERYMADRASTN600112IN |
|
6 |
A34688820 |
80028599 |
CENTRAL BANK OF INDIA |
22/08/1991 |
- |
26/03/2008 |
25500000.0 |
CUFFE PARADEMUMABIMH400005IN |
|
7 |
A41342734 |
80028612 |
THE MAHARASHTRA STATE FINANCIAL CORPORATION |
22/07/1974 |
- |
25/02/2008 |
586000.0 |
D.A.BHAVAN, 83 DR. A. B. ROAD,WORLI,BOMBAYMH400018IN |
|
8 |
A41342197 |
80028592 |
MSFC |
19/03/1974 |
- |
25/02/2008 |
586000.0 |
83, DR. A.B. ROADWORLIMUMBAIMH400018IN |
|
9 |
A41343161 |
80028598 |
MHARASHTRA STATE FINANCIAL CORPORATION |
04/03/1983 |
- |
25/02/2008 |
340000.0 |
NEW EXCELSIOR BUILDINGAMRIT KESHAV MARGMUMBAIMH400001IN |
|
10 |
A28856599 |
80028613 |
CANARA BANK |
22/08/1986 |
- |
27/12/2007 |
2500000.0 |
113 AMAN CHAMBERS QUEENS ROAD BRANCHBOMBAYMH400004IN |
|
11 |
A28856474 |
80028601 |
CANARA BANK |
22/08/1986 |
- |
27/12/2007 |
2500000.0 |
113,AMAN CHAMBERSQUEENS ROADMUMBAIMH400004IN |
|
12 |
A28856284 |
80028609 |
CANARA BANK |
10/06/1988 |
- |
27/12/2007 |
82600.0 |
AMAN CHAMBERS113 QUEENS ROAD,BOMBAYMH400004IN |
|
13 |
A23467103 |
80028603 |
BANK OF PUNJAB LTD |
13/10/1999 |
- |
19/09/2007 |
4600000.0 |
FORTMUMBAIMH400001IN |
|
14 |
A23467202 |
80028615 |
BANK OF PUNJAB LTD |
13/10/1999 |
- |
19/09/2007 |
4600000.0 |
FORT,MUMBAIMH400001IN |
|
15 |
A23467087 |
80028616 |
BANK OF PUNJAB LTD |
31/07/2001 |
- |
19/09/2007 |
10000000.0 |
FORT,MUMBAIMH400001IN |
|
16 |
A19284397 |
80028600 |
JAMMU AND KASHMIR BANK LTD |
28/12/1999 |
- |
10/07/2007 |
4500000.0 |
G-40, CONNOUGHT PLACE,NEW DELHIDL110001IN |
CORPORATE INFORMATION
Agrimas Chemicals Limited (the company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in the Manufacturing / Trading in Pesticides & Insecticides and fertilizers and Job Work carried for refilling of Pesticides.
STATE OF THE COMPANIES
AFFAIRS:
Company’s Vision:
· To emerge as a strong niche player in agro-input industry in India through quality products and self-motivated teams.
· To become an environment friendly green company through our selection of products and manufacturing processes.
Company’s Mission:
· Continued induction of business partners.
· Challenging and vibrant work environment.
· Passion to induct talented man power; train to excel leading to continued satisfaction.
OPERATIONAL REVIEW:
The Company is engaged in the business of Agro chemicals. There has been no change in the business of the Company during the financial year ended 31st March, 2017.
The highlights of the
Company’s performance are as under:
During the year, the Company has earned lower profit compared to the previous year due to recession, acute competition and economic slowdown. The situation of heavy pressure on margin continued in the year. Total Revenue of the Company for the period decreased from INR 120.508 Million to INR 869.548 Million and Net Profit of the Company for the period decreased from INR 2.135 Million to INR 0.509 Million.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
ECONOMIC ENVIRONMENT
The Economic Environment has lately become very dynamic. The world is a much smaller place than people would expect. The global economies are quite dependent on each other and the G20 plays an important role to make sure that slackness in demand in any part of the world is addressed on a shorter/quicker basis to avoid its widespread. India as a responsible member plays its role effectively. However at the domestic front, political compulsions coupled with absence of bold decisions and a high inflation rate is surely affecting the environment.
Growing manufacturing economies and increases in fixed investment among the world's emerging economies will bring more rapid growth in fastener demand in these regions. Consequently, fastener demand growth in the Asia/Pacific, Africa/Middle East, Eastern Europe and Latin America which will definitely benefit Indian fasteners industry. Market growth will be strong as well as Sales growth will be stimulated by favorable economic conditions and higher income levels leading to a rise in manufacturing activity and consumer expenditures for durable goods.
OUTLOOK
Robust demand in the user industry, ongoing expansion, established clientele base and strong order booking makes the company a suitable investment candidate with a long-term horizon. To increase the export percentage in the total revenue and make their presence felt in the international arena, the company has been very active in acquiring companies overseas. In order to meet the market challenges your company has been following the philosophy of providing the highest quality products and services to the customers. It has been focusing on elimination of waste, tight management of working capital and building people capability. All endeavors are made to maximize gains and reduce cost. Enough emphasis is laid on value addition per employee.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
a Claims against the Company not acknowledged as
debts and being contested to the extent ascertainable and quantifiable. |
|
|
|
i Disputed Income tax Demand for FY 2012-2013
under appeal before CIT (Appeals) The Management is of the opinion that the
above demand is not sustainable. |
3.146 |
3.146 |
|
ii Disputed Income tax Demand for FY 2013-2014 under
appeal before CIT (Appeals) against which INR 0.306 Million (PY Nil) has been
deposited. The Management is of the opinion that the above demand is not
sustainable. |
2.040 |
0.000 |
|
iii Disputed Excise Demand for FY 11-12 to Nov 14
under appeal before CESAT against which INR 0.569 Million (PY Nil) has been
deposited. The Management is of the opinion that the above demand is not
sustainable. |
11.380 |
0.000 |
|
iv Disputed Custom duty demand raised by Dy Comm.
Of Custom, Nhava Sheva, pending for passing the speaking order by Dy Comm. of
Customs as per Order of Commissioner of Customs (Appeals), Nhava Seva. The
Management is of the opinion that the above demand of duty in not
sustainable. |
5.337 |
5.337 |
|
b. Letters of credit issued by the Bank's |
117.523 |
26.539 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.36 |
|
UK Pound |
1 |
INR 92.51 |
|
Euro |
1 |
INR 81.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
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.