|
|
|
MIRA INFORM REPORT
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Report No. : |
505936 |
|
Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARTEK SURFIN CHEMICALS LIMITED |
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|
Registered
Office : |
Plot No. 121, Marol Co-Operative Industrial Estate, M |
|
Tel. No.: |
91-22-40320101 / 40320102 / 40320000 / 40320200 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
31.01.1990 |
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Com. Reg. No.: |
11-055269 |
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Capital
Investment / Paid-up Capital : |
INR 24.922 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U29190MH1990PLC055269 |
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TIN No.: |
27790254090 |
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IEC No.: [Import-Export Code No.] |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACA3374Q |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACA3374Q1ZA |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Manufacturing Chemical and Chemical Products,
Pharmaceuticals, Medicinal Chemical and Botanical Products. (Registered
activity) |
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No. of Employees
: |
Information declined 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 |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1990. It is a manufacturer of Chemical and Chemical products. As per available financial record of 2015, the company has achieved 10.33% growth in its revenue as compared to previous year revenue and along with average profit margin of 5.18%. The sound financial profile of the company marked by adequate networth base along with strong debt coverage indicators due to low debt balance sheet profile. The company has favourable Earning Per Share (EPS) of INR 37.06 against a face value (FV) of INR 10. The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. However, rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payment seems to be slow but correct. In view of the risks inherited due to unavailability of latest financial information the rating has been slightly downgraded whereas, considered the other available factors the subject can be considered for business dealings at usual trade terms and conditions. Note: As per the Registrar of Companies date of balance sheet (I.e financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2016/2017 are not available from any sources. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
|
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 27.04.2018
IBBI (Insolvency and Bankruptcy Board of
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-COOPERATIVE (TEL NO.: 91-7506989877 / 9673780053)
RINGING (TEL NO.: 91-22-40320101 / 02)
LOCATIONS
|
Registered Office / Unit 1: |
Plot No. 121, Marol Co-Operative Industrial Estate, M |
|
|
|
|
Tel. No.: |
91-22-40320101 / 40320102 / 40320000 / 40320200 |
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Fax No.: |
91-22-40320198 / 28596971 |
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E-Mail : |
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Website : |
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Vasai Works Unit 2 : |
Plot No. 36, 37, Sector II, Village Gauraipada, Vasai
Taluka Industrial Estate, Vasai (East), Dist. Palghar - 401208, |
|
Tel. No.: |
91-9250-2458546 / 2455113 |
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Plot No. 738/3 – C, |
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Tel. No.: |
91-260-2241706 / 2241021 |
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Plot No. 738/3-B, Opposite Jolly Containers Dhabel, Nani
Daman – 396210, |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sushilkumar
Beniprasad Goenka |
|
Designation : |
Managing Director |
|
Address : |
20th Vinayak
Kunj, |
|
Date of Birth/Age : |
31.12.1947 |
|
Qualification : |
B.S.C |
|
Experience : |
41 Years |
|
Date of Appointment : |
16.08.1990 |
|
DIN No.: |
00016670 |
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|
|
|
Name : |
Mr. Vishal Sushilkumar
Goenka |
|
Designation : |
Director |
|
Address : |
H Plot No. 20,
Road No. 12, J V P D Scheme, Juhu, Vile Parle (West), Mumbai – 400049, |
|
Date of Appointment : |
30.09.2015 |
|
PAN No.: |
AABPG5548C |
|
DIN No.: |
00016950 |
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|
|
|
Name : |
Mr. Jagmohan
Singh Surjit Singh Dang |
|
Designation : |
Director |
|
Address : |
B-301 Silver
Springs, Opposite H D F C Bank, Lokhandwala Complex, Andheri (West), Mumbai –
400058, |
|
Date of Birth/Age : |
22.09.1950 |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
00025706 |
|
|
|
|
Name : |
Mr. Harivats
Saraf |
|
Designation : |
Director |
|
Address : |
No 441, The
Embassy, |
|
Date of Appointment : |
01.07.2016 |
|
DIN No.: |
00810044 |
KEY EXECUTIVES
|
Name : |
Mr. Anuj
Sushilkumar Goenka |
|
Designation : |
Chief executive
officer |
|
Address : |
20 Vinayak Kunj,
Road No. 12th |
|
Date of Appointment : |
01.02.2017 |
|
PAN No.: |
AABPG5554G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Sushilkumar
Beniprasad Goenka |
|
466550 |
|
Anish Rajendra Goenka |
|
237000 |
|
Amit Rajendra Goenka |
|
235000 |
|
Anjana Sunil Goenka |
|
235000 |
|
Vishal Sushilkumar
Goenka |
|
220000 |
|
Anuj Sushilkumar
Goenka |
|
207000 |
|
Sunil Beniprasad
Goenka |
|
186500 |
|
Asha Rajendra Goenka |
|
154250 |
|
Rajendra
Beniprasad Goenka |
|
58000 |
|
Sejal Vishal Goenka |
|
54250 |
|
Smiriti Anuj Goenka |
|
54250 |
|
Payal Amit Goenka
|
|
54250 |
|
Sushila Sushilkumar
Goenka |
|
50000 |
|
Nishita Anish Goenka |
|
81667 |
|
Sunishka Sunil Goenka |
|
163333 |
|
Rajendra
Beniprasad Goenka |
|
20000 |
|
Sushilkumar Beniprasad
Goenka |
|
15150 |
|
|
|
|
|
Total |
|
2492200 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
35.85 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
62.74 |
|
Promoter - Bodies
corporate |
1.41 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing Chemical and Chemical Products,
Pharmaceuticals, Medicinal Chemical and Botanical Products. (Registered
activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Lalchand Madanlal Choudhary Chartered Accountants |
|
Address : |
302, Eco Space, Off Nagardas Road, Mogra Village, Andheri (East), Mumbai – 400069, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFC1257B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
U24247MH2002PTC136494 |
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Subsidiaries : |
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|
U24110MH1990PTC059064
U74999MH1985PTC036959
U24100MH2005PTC156267
U24100MH1987PTC044811
U18100MH1997PTC106236
U51909MH2003PTC139402
U51909MH2003PTC139278
U18100MH2005PLC152440
U24110MH1993PTC071054
U72100MH1999PTC121051
U24233MH2010PTC209513
U25190MH1994PTC078747 |
CAPITAL STRUCTURE
As on 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2492200 |
Equity Shares |
INR 10/- each |
INR 24.922
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
24.922 |
24.922 |
24.922 |
|
(b) Reserves &
Surplus |
2393.095 |
2241.226 |
1720.046 |
|
(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) |
2418.017 |
2266.148 |
1744.968 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.878 |
0.599 |
0.958 |
|
(b) Deferred tax
liabilities (Net) |
4.338 |
7.187 |
6.366 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
5.216 |
7.786 |
7.324 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
190.051 |
302.558 |
130.140 |
|
(b) Trade payables |
107.948 |
150.548 |
153.889 |
|
(c) Other current liabilities |
38.677 |
322.364 |
230.177 |
|
(d) Short-term provisions |
63.482 |
4.680 |
9.121 |
|
Total Current Liabilities
(4) |
400.158 |
780.150 |
523.327 |
|
|
|
|
|
|
TOTAL |
2823.391 |
3054.084 |
2275.619 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
100.840 |
100.459 |
99.212 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
33.099 |
219.229 |
214.128 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
650.807 |
381.291 |
487.426 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
295.410 |
256.418 |
226.816 |
|
(e) Other Non-current
assets |
2.172 |
1.583 |
0.346 |
|
Total Non-Current Assets |
1082.328 |
958.980 |
1027.928 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
231.160 |
|
(b) Inventories |
160.285 |
157.683 |
124.097 |
|
(c) Trade receivables |
341.421 |
315.605 |
286.250 |
|
(d) Cash and cash
equivalents |
171.469 |
30.859 |
30.647 |
|
(e) Short-term loans and
advances |
1058.834 |
1587.214 |
571.978 |
|
(f) Other current assets |
9.054 |
3.743 |
3.559 |
|
Total Current Assets |
1741.063 |
2095.104 |
1247.691 |
|
|
|
|
|
|
TOTAL |
2823.391 |
3054.084 |
2275.619 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1782.510 |
1615.536 |
1488.133 |
|
|
Other Income |
142.512 |
551.871 |
92.133 |
|
|
TOTAL |
1925.022 |
2167.407 |
1580.266 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1128.299 |
1015.500 |
967.621 |
|
|
Purchases of Stock-in-Trade |
58.966 |
26.656 |
39.939 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.980 |
(1.316) |
(5.193) |
|
|
Employees benefits
expense |
139.466 |
126.639 |
101.847 |
|
|
Extraordinary items
before tax |
167.911 |
0.000 |
0.000 |
|
|
Other expenses |
165.505 |
280.675 |
161.344 |
|
|
TOTAL |
1662.127 |
1448.154 |
1265.558 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
262.895 |
719.253 |
314.708 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
11.959 |
31.806 |
23.096 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
250.936 |
687.447 |
291.612 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
19.080 |
12.274 |
10.802 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
231.856 |
675.173 |
280.810 |
|
|
|
|
|
|
|
Less |
TAX |
139.507 |
151.078 |
73.532 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
92.349 |
524.095 |
207.278 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
359.528 |
273.187 |
NA |
|
|
TOTAL EARNINGS |
359.528 |
273.187 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
243.182 |
263.686 |
NA |
|
|
TOTAL IMPORTS |
243.182 |
263.686 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
37.06 |
210.29 |
83.17 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
0.544 |
0.367 |
0.418 |
|
Net cash flows from (used in) operations |
115.458 |
718.114 |
NA |
|
Net cash flows from (used in) operating activities |
(73.491) |
45.444 |
(67.502) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
69.91 |
71.31 |
70.21 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.22 |
5.12 |
5.20 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
33.19 |
52.73 |
55.75 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.64 |
4.56 |
2.54 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.96 |
2.25 |
1.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.14 |
0.26 |
0.23 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.08 |
0.13 |
0.08 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.17 |
0.34 |
0.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.06 |
0.14 |
0.18 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
21.98 |
22.61 |
13.63 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
((PAT / Sales) * 100) |
% |
5.18 |
32.44 |
13.93 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.27 |
17.16 |
9.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
3.82 |
23.13 |
11.88 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Ratio (Current Assets / Current Liabilities) |
4.35 |
2.69 |
2.38 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
3.95 |
2.48 |
2.15 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.86 |
0.74 |
0.77 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
7.66 |
12.16 |
5.26 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
4.35 |
2.69 |
2.38 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
24.922 |
24.922 |
24.922 |
|
Reserves & Surplus |
1720.046 |
2241.226 |
2393.095 |
|
Net
worth |
1744.968 |
2266.148 |
2418.017 |
|
|
|
|
|
|
Long Term borrowings |
0.958 |
0.599 |
0.878 |
|
Short Term borrowings |
130.140 |
302.558 |
190.051 |
|
Current Maturities of Long term debt |
0.418 |
0.367 |
0.544 |
|
Total
borrowings |
131.098 |
303.157 |
190.929 |
|
Debt/Equity
ratio |
0.075 |
0.134 |
0.079 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1488.133 |
1615.536 |
1782.510 |
|
|
|
8.561 |
10.336 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1488.133 |
1615.536 |
1782.510 |
|
Profit |
207.278 |
524.095 |
92.349 |
|
|
13.93% |
32.44% |
5.18% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
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 |
BRIEF DESCRIPTION OF THE
COMPANY'S WORKING DURING THE YEAR/STATE OF COMPANY'S AFFAIR :
The company achieved 10.34% growth in gross revenue which increased from INR 1615.536 Million in FY 2013-14 to INR 1782.510 Million in FY 2014-15 and the profit after tax during the year was INR 92.349 Million, as against Profit after Tax of INR 524.095 Million During 2013-14.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C53024824 |
10568125 |
YES BANK LIMITED |
26/03/2015 |
- |
- |
140000000.0 |
NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIADR. A. B. ROAD, WORLI, MUMBAI - 400018MUMBAIMH400018IN |
|
2 |
G32685158 |
10568124 |
HDFC BANK LIMITED |
25/03/2015 |
18/10/2016 |
- |
180000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL WESTMUMBAIMH400013IN |
|
3 |
B63664924 |
10391033 |
INDUSIND BANK LTD. |
27/11/2012 |
- |
- |
100000000.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMH411001IN |
|
4 |
C17017658 |
10152146 |
YES BANK LIMITED |
28/05/2008 |
30/07/2014 |
- |
50000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
5 |
A76735661 |
80029091 |
CITIBANK N. A. |
11/10/2000 |
08/12/2009 |
- |
105000000.0 |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60BANDRA KURLA COMPLEX, BANDRA (E)MUMBAIMH400051IN |
|
6 |
Y10252318 |
90152548 |
CITI BANK N.A |
14/01/2000 |
- |
- |
315000.0 |
CITI TOWER; DR. S. S. RAO ROADPARELMUMBAIMHIN |
|
7 |
C79888889 |
10444509 |
DBS BANK LTD. |
18/07/2013 |
- |
15/02/2016 |
80000000.0 |
DLF Capitol Point, Gr Floor & 1st FloorBaba Kharak Singh Marg, Connaught PlaceNew DelhiDL110001IN |
|
8 |
C60413606 |
10065832 |
The Hongkong and Shanghai Banking Corporation Limited |
27/08/2007 |
19/09/2013 |
06/07/2015 |
75000000.0 |
52/60, MAHATMA GANDHI ROADFORTMUMBAIMH400001IN |
|
9 |
A20978979 |
90153012 |
CANARA BANK |
28/03/1994 |
28/03/1994 |
16/08/2007 |
1450000.0 |
FORT MARKET BRANCHFRERE ROAD; FORTBOMBAYMH400038IN |
|
10 |
A20978789 |
90152792 |
CANARA BANK |
18/10/1991 |
- |
16/08/2007 |
11300000.0 |
FORT MARKET BRANCHFRERE ROAD; FORTBOMBAYMH400038IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
Guarantees |
1665.111 |
1083.723 |
|
Other money for which company is contingently liable |
21.790 |
10.302 |
|
Total |
1686.901 |
1094.025 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
PRESS RELEASE
ARTEK TO ACQUIRE 100% OWNERSHIP IN GALATA CHEMICALS
February 10, 2014
SOUTHBURY, Conn., Feb. 10, 2014 (GLOBE NEWSWIRE) -- Artek Surfin and Aterian Investment Partners, currently joint owners of Galata Chemicals, have reached a definitive agreement whereby Artek Surfin will acquire Aterian's shares in Galata Chemicals. The transaction is expected to close in March. The company will continue to operate as it does today with the current organization in place.
"Over the past four years, Aterian and Artek have successfully partnered with the Galata Chemicals organization to build a leader in PVC Additives with a global footprint and an expanded portfolio of innovative products," said Steven McKeown, President and COO of Galata Chemicals. "We are thankful for Aterian's significant contribution to the turnaround and growth of Galata Chemicals and look forward to continue to partner with Artek as we enter the next phase of our growth strategy."
Michael Fieldstone, partner at Aterian, added "It has been a pleasure to partner with Artek and the dedicated and talented Galata management team in the Company's successful reinvigoration and new product development efforts. We are thrilled by the outcome and look forward to watching Artek and the Company in its continued success."
"We are extremely excited about the growth opportunities Galata's business has and are committed to growing this business, including the addition of manufacturing assets in Asia," said Vishal Goenka. "To get to where Galata is today would not have been possible without a great partner in Aterian and the enthusiasm of TEAM GALATA."
Galata Chemicals
Galata Chemicals is a leading global producer of plastics additives including mixed metal heat stabilizers, organotin heat stabilizers, epoxidized soybean oil, polymer modifiers, tin catalysts and bio-based plasticizers. Additional information concerning Galata is available at www.galatachemicals.com.
Artek
Artek Surfin Chemicals and its group company Sterling Auxiliaries are one of the largest specialty chemical companies in India, focusing on surfactants, alkyl alkanol amines, textile chemicals, metal finishing and other specialty chemical sectors. Artek has substantial experience developing and operating chemical plants and distributing and marketing specialty chemical products internationally.
Aterian Investment
Partners
Aterian Investment Partners ("Aterian") is an operationally-focused middle market private equity firm focused on investing in businesses that are financially or operationally challenged, yet strategically viable with well-defined reasons to exist. Aterian invests in turnarounds, distressed situations, restructurings, carve-outs, underperformers or other complex investment situations in middle market companies generating $25 million to $500 million of revenue. After making an investment, Aterian, in partnership with portfolio company management teams, seeks to relentlessly focus on the critical growth, cost and liquidity initiatives of a business in an effort to drive value creation. The Aterian principals have extensive professional experience having collectively worked on over 100 transactions representing over $1.25 billion of invested equity as well as $6.5 billion of debt financings.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.83 |
|
|
1 |
INR 93.17 |
|
Euro |
1 |
INR 81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KJL |
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.