|
|
|
MIRA INFORM REPORT
|
Report No. : |
506752 |
|
Report Date : |
30.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
LANXESS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Lanxess House, Plot No: A 162-164 Road No 27, MIDC, Wagle Estate, Thane (West) - 400 604, Maharashtra |
|
Tel. No.: |
91-22-25871000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
20.02.2004 |
|
|
|
|
Com. Reg. No.: |
11-158377 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 10345.120 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119MH2004PTC158377 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0504023039 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB3880A |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCB3880A1Z1 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily involved in manufacturing and trading of various chemical and chemical intermediates (Registered Activity) |
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|
|
|
No. of Employees
: |
893 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 35000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exists |
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|
|
|
Comments : |
Subject was incorporated in the year 2004. It is a wholly owned subsidiary
of “Lanxess Deutschland GmbH”, Germany. It is engaged in manufacturing and
trading of chemical intermediates. For the financial year 2017, the company has achieved revenue growth
of 7.86% as compared to the previous year revenue along with an average
profit margin of 5.30%. The sound financial profile of the company is marked by adequate
networth base along with average debt coverage indicators due to low debt
balance sheet profile. Rating also takes into account the strong financial and managerial
support that company receives from its holding entity backed by its well
experienced management team. Payments seems to be usually correct. In the view aforesaid, the company can be considered for 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 |
|
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 28.04.2018
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
Management non-cooperative (Tel No.:91-22-25871000)
Tel No.: 91-7366-245104 (Call Disconnecting)
LOCATIONS
|
Registered Office : |
Lanxess House, Plot No: A 162-164 Road No 27, MIDC, Wagle
Estate, Thane (West) - 400 604, Maharashtra, India |
|
Tel. No.: |
91-22-25871000 |
|
Fax No.: |
91-22-25871287 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Post Birlagram, Nagda, District: Ujjain – 456331, Madhya Pradesh, India |
|
Tel. No.: |
91-7366-245104/ 245447/ 248735 |
|
Fax No.: |
91-7366-246283 |
|
|
|
|
Factory 2 : |
Jhagadia Industrial Estate Plot No. 748/2/A, 748/3 & 748/4/B, GIDC Jhagadia, Bharuch - 393110, Gujarat, India |
|
Tel. No.: |
91-2645-226800 |
DIRECTORS
As on 31.03.2017
|
Name : |
Dr. Jacques Louis Albert Perez |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
Flat No.202, Odyssey 2, 2nd Floor, Hiranandani Gardens,
Powai, Mumbai – 400 076, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
26.04.1962 |
||||||||
|
Date of Appointment : |
15.04.2013 |
||||||||
|
PAN No.: |
CHNPP7092P |
||||||||
|
DIN No.: |
06548546 |
||||||||
|
Other
Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Dr. Dattaprasad Govind Talekar |
||||||||
|
Designation : |
Whole-time Director |
||||||||
|
Address : |
Flat No.403, Building No.3, Wimbledon Park, Pokhran Road No.1,
Opposite JK School, Thane – 400602, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
28.08.1957 |
||||||||
|
Date of Appointment : |
24.06.2016 |
||||||||
|
PAN No.: |
AAZPT5132B |
||||||||
|
DIN No.: |
00012595 |
||||||||
|
Other
Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Neelanjan Sarojkumar Banerjee |
||||||||
|
Designation : |
Whole-time Director |
||||||||
|
Address : |
2401, 24th Floor, Hiranandani Meadows, Northside Building,
Gladys Alwares Road, Off Pokhran Road No.2, Thane (West) – 400610,
Maharashtra, India |
||||||||
|
Date of Birth/Age : |
02.03.1973 |
||||||||
|
Date of Appointment : |
01.09.2009 |
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|
PAN No.: |
ADIPB2496A |
||||||||
|
DIN No.: |
02743360 |
||||||||
|
Other
Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Dr. Rainier Arnold Quirinus Maria Van Roessel |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
Merkel Weg, 1A, Bergisch Gladbach, Bergisch Gladbach – 51427, Germany |
||||||||
|
Date of Birth/Age : |
04.08.1957 |
||||||||
|
Date of Appointment : |
04.06.2007 |
||||||||
|
DIN No.: |
01599378 |
||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sreeram Venkey |
|
Designation : |
Finance Manager and Company Secretary |
|
Address : |
8, Siddhivinayaka Vighnahara CHS Limited, Chedda Nagar, Chembur,
Mumbai – 400089, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1962 |
|
Date of Appointment : |
01.07.2004 |
|
PAN No.: |
AABPV4846Q |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
LANXESS Deutschland GmbH, Germany |
|
1034512262 |
|
LANXESS Deutschland GmbH, Germany jointly with Sreeram Venkey
[Nominee of Lanxess Deutschland GmbH, Germany] |
|
3 |
|
LANXESS Deutschland GmbH, Germany jointly with Dattaprasad
Talekar [Nominee of LANXESS Deutschland GmbH, Germany] |
|
1 |
|
Total |
|
1034512266 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
LANXESS Deutschland GmbH, Germany |
|
43200000 |
|
Total |
|
43200000 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily involved in manufacturing and trading of various chemical and chemical 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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|
||||||||
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Imports : |
Not Divulged |
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|
|
||||||||
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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 : |
893 (Approximately) |
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Bankers : |
|
||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Associates Chartered Accountants |
|
Address : |
87 , Nariman, Bhavan, 227, Nariman Point, Mumbai -400 021, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS1034J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company: |
|
|
|
|
|
Ultimate Holding
Company: |
|
|
|
|
|
Fellow
Subsidiaries: |
(Formerly Lanxess-Tsrc (Nantong) Chemical Industrial Company, Limited China & Renamed On 27-06-2016)
|
CAPITAL STRUCTURE
After 25.09.2017
Authorised Capital : INR
13566.510 Million
Issued, Subscribed & Paid-up Capital : INR 10633.123 Million
As on 25.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1206651000 |
Equity Shares |
INR 10/- each |
INR 12066.510 Million |
|
150000000 |
Preference Shares |
INR 10/- each |
INR 1500.000 Million |
|
|
Total
|
|
INR 13566.510
Million |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1034512266 |
Equity Shares |
INR 10/- each |
INR 10345.123 Million |
|
144000000 |
Preference Shares |
INR 10/- each |
INR 1440.000 Million |
|
|
Total
|
|
INR 11785.123
Million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1034512266 |
Equity Shares |
INR 10/- each |
INR 10345.123 Million |
|
43200000 |
Preference Shares |
INR 10/- each |
INR 432.000 Million |
|
|
Total
|
|
INR 10777.123
Million |
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1206651000 |
Equity Shares |
INR 10/- each |
INR 12066.510 Million |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1034512266 |
Equity Shares |
INR 10/- each |
INR 10345.123 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1034512266 |
Equity Shares |
INR 10/- each |
INR 10345.120 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
10345.120 |
10345.120 |
8147.000 |
|
(b) Reserves & Surplus |
2110.000 |
1148.000 |
577.000 |
|
(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) |
12455.120 |
11493.120 |
8724.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
875.000 |
894.000 |
4494.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
454.000 |
382.000 |
137.000 |
|
(d) long-term
provisions |
270.000 |
97.000 |
315.000 |
|
Total Non-current
Liabilities (3) |
1599.000 |
1373.000 |
4946.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1462.000 |
1242.000 |
1118.000 |
|
(c) Other
current liabilities |
613.000 |
1729.000 |
1517.000 |
|
(d) Short-term
provisions |
469.000 |
438.000 |
400.000 |
|
Total Current
Liabilities (4) |
2544.000 |
3409.000 |
3035.000 |
|
|
|
|
|
|
TOTAL |
16598.120 |
16275.120 |
16705.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6376.000 |
6422.000 |
6929.000 |
|
(ii)
Intangible Assets |
428.000 |
426.000 |
495.000 |
|
(iii)
Capital work-in-progress |
348.120 |
443.120 |
535.000 |
|
(iv)
Intangible assets under development |
2.000 |
6.000 |
0.000 |
|
(b) Non-current Investments |
11.000 |
11.000 |
11.000 |
|
(c) Deferred tax assets (net) |
219.000 |
350.000 |
570.000 |
|
(d) Long-term Loan and Advances |
3.000 |
3.000 |
504.000 |
|
(e) Other
Non-current assets |
304.000 |
353.000 |
1.000 |
|
Total Non-Current
Assets |
7691.120 |
8014.120 |
9045.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2896.000 |
2409.000 |
2688.000 |
|
(c) Trade
receivables |
3753.000 |
3276.000 |
3202.000 |
|
(d) Cash
and cash equivalents |
1261.000 |
1348.000 |
402.000 |
|
(e)
Short-term loans and advances |
9.000 |
12.000 |
1368.000 |
|
(f) Other
current assets |
988.000 |
1216.000 |
0.000 |
|
Total
Current Assets |
8907.000 |
8261.000 |
7660.000 |
|
|
|
|
|
|
TOTAL |
16598.120 |
16275.120 |
16705.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
18218.000 |
16890.000 |
17253.000 |
|
|
Other Income |
126.000 |
71.000 |
55.000 |
|
|
TOTAL |
18344.000 |
16961.000 |
17308.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
7069.000 |
6728.000 |
7828.000 |
|
|
Purchases of
Stock-in-Trade |
3938.000 |
2855.000 |
3270.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(233.000) |
265.000 |
398.000 |
|
|
Employees benefits
expense |
924.000 |
875.000 |
855.000 |
|
|
Other expenses |
4134.000 |
3985.000 |
3244.000 |
|
|
Exceptional Item |
0.000 |
0.000 |
(113.000) |
|
|
TOTAL |
15832.000 |
14708.000 |
15482.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2512.000 |
2253.000 |
1826.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
141.000 |
266.000 |
716.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2371.000 |
1987.000 |
1110.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
964.000 |
1137.000 |
1134.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1407.000 |
850.000 |
-24.000 |
|
|
|
|
|
|
|
Less |
TAX |
442.000 |
402.000 |
-48.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
965.000 |
448.000 |
24.000 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
6092.000 |
6315.000 |
6698.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
4080.000 |
3329.000 |
4330.000 |
|
|
Packing Material |
32.000 |
19.000 |
25.000 |
|
|
Stores, Spares and
Components |
21.000 |
11.000 |
11.000 |
|
|
Traded Goods |
2896.000 |
2248.000 |
2675.000 |
|
|
Capital Goods |
21.000 |
92.000 |
54.000 |
|
|
TOTAL IMPORTS |
7050.000 |
5699.000 |
7095.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.02 |
0.48 |
0.04 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
960.000 |
1249.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1868.000 |
2816.000 |
2318.000 |
|
Net cash flows from (used in) operating activity |
1529.000 |
2660.000 |
2175.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
75.19 |
70.80 |
67.74 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.85 |
5.16 |
5.39 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
48.48 |
47.31 |
36.77 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.87 |
0.94 |
0.68 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.35 |
0.31 |
0.23 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.21 |
0.32 |
0.53 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.07 |
0.16 |
0.66 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.20 |
0.30 |
0.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.57 |
0.63 |
0.91 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
17.82 |
8.47 |
2.55 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
5.30 |
2.65 |
0.14 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.81 |
2.75 |
0.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
7.75 |
3.90 |
0.28 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.50 |
2.42 |
2.52 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.36 |
1.72 |
1.64 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.75 |
0.71 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.08 |
0.18 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.50 |
2.42 |
2.52 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
8147.000 |
10345.120 |
10345.120 |
|
Reserves & Surplus |
577.000 |
1148.000 |
2110.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
8724.000 |
11493.120 |
12455.120 |
|
|
|
|
|
|
long-term borrowings |
4494.000 |
894.000 |
875.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
1249.000 |
960.000 |
0.000 |
|
Total
borrowings |
5743.000 |
1854.000 |
875.000 |
|
Debt/Equity
ratio |
0.658 |
0.161 |
0.070 |
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 |
17253.000 |
16890.000 |
18218.000 |
|
|
|
(2.104) |
7.863 |
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 |
17253.000 |
16890.000 |
18218.000 |
|
Profit |
24.000 |
448.000 |
965.000 |
|
|
0.14% |
2.65% |
5.30% |
LEGAL
CASE
HIGH COURT
|
COMMISSIONER ON INCOME TA X I VS MS LANXESS INDIA PRIVATE LIMITED High Court-Maharashtra Case No: ITXA/335/2014 Case Status: Pending Judge: HON'BLE SHRI JUSTICE M.S. SANKLECHA HON'BLE SHRI JUSTICE A. K. MENON Date:2016/08/08 |
HIGH COURT
|
GOPAL MAHESHWARI LANXESS INDIA PRIVATE LIMITED THROUGH ISABELA MEGERLE High Court-Madhya Pradesh Case No: WP - 475/2017 (I) Case Status: Pending Judge: Date:2017-01-25 |
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 |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
No |
|
32] |
Litigations that the firm/promoter
involved in |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
The company is a private company incorporated in India in February, 2004, was formed as a subsidiary of LANXESS Deutschland GmbH, which in turn is a subsidiary of LANXESS AG, Germany, a Company listed in Frankfurt stock exchange on 31st January, 2005. The Company’s registered office is at LANXESS House, Plot Nos. A 162-164, Road No. 27, Wagle Estate, MIDC, Thane (W)-400 604, Maharashtra. The Company was formed to acquire the chemical and part of the polymer business of Bayer Group in India, pursuant to a global business reconstruction and realignment of the said business in 2004. Consequently, the chemicals division of Bayer MaterialScience Private Limited (BMS) was demerged as per the order of the High Court with appointed date of 1st March, 2004, wherein all related assets and liabilities were acquired at book values and the effective date of the scheme of demerger was 1st July, 2004. The rubber chemical business of Bayer Polychem (India) Limited (BPCIL) was transferred to our Company on 1st July, 2004 through an “Asset Deal” (slump sale). Further, the moveable assets and employee related assets and liabilities relevant to the restructuring was acquired by the Company on 1st July, 2004 from Bayer CropScience Limited (BCS). The Company is primarily involved in manufacturing and trading of various chemical & chemical intermediates.
The financial statements for the year ended 31 March, 2017 were approved by the Board of Directors and authorised for issue on 23 June, 2017.
FINANCIAL PERFORMANCE
SALES:
Revenue from Operations increased by 7.9% from INR 16,890 Mio to INR 18,218 Mio in the current year. In terms of Sales of products it has gone up by INR 1,542 Mio from INR 16,108 Mio to INR 17,651 Mio in the current year and corresponding Sales volume have increased by 13,216 tons. A view of the three segments of LANXESS shows increase in sales value i.e “High Performance Material” (+23%), “Performance Chemicals” (+18%) and “Advanced Intermediates” (+2%). Volume growth for these segments are: “High Performance Material” (+29%) “Performance Chemicals” (+11%) and Advanced Intermediates” (+3%). Sales within India has increased by 19% to INR 11,413 Mio while exports have decreased by -4% to INR 6,238 Mio. Overall Sales of manufactured goods have increased by 5% to INR 13,296 Mio whereas corresponding Sales volume have increased by 2% to 268,278 tons. The increase is mainly seen in the Business Units “High Performance Materials” (+26%), “Leather” (+28%) which has been offset by decrease in Business Unit “Advanced Industrial Intermediates”(-2%). Overall Sales of traded goods have increased by 27% to INR 4,355 Mio and the corresponding Sales volume have increased by 37% to 28,389 tons. The increase is mainly seen in Business Units “Advanced Industrial Intermediates” (+77%), “Material Protection Product” (+205%), “Inorganic Pigments” (+19%) and “Rhein Chemie Additives” (+24%) which is offset by decrease in Business Unit “Leather” (-15%)
The India economy exhibited a slow down in FY17 at 7.1% as compared to 7.9% for FY16. One of the key contributors to this can be attributed to the short term impact of demonetisation in Q3 for the financial year. Macroeconomic indicators are on the positive side for FY 18 with an estimated landing of 7.5%. The demonetization has its impact on most of the sectors which can be visibly seen in the manufacturing sector wherein the growth for FY17 was recorded at 5.2% as against 7.4% in FY16. The chemical sector has seen a growth of approximately
The automobile industry in India has seen a growth of 5.4% which is combined result of growth in passenger vehicles of 9.2% and commercial vehicle of 4.2%. The tire production showed a moderate growth of 4.6%, but the Indian tire industry continues to be affected by cheap tire imports from China. The agriculture sector grew at 4.1% in FY17 as against 1.2% in FY16.
The significant growth in the passenger vehicles segment and moderate growth in the commercial vehicle segment also positively impacted the manufacturing volumes at Jhagadia site for BU AII with a resulting increase in volumes by 21% as compared to FY16 by 1,826 MT. Also BU AII at Jhagadia executed a debottlenecking activity for one of its four production lines to cater to the increasing market demand so as to leverage the current economic scenario of the Indian automobile sector. Overall production volumes at Jhagadia site for all the five Business Units put together increased by 5,236 MT i.e a sizeable 17% growth. Production at Nagda site remained at almost the same levels at FY16.
Sales for the first two months of the financial year 2017-18 has seen a growth of 4.3% in volumes. The Sales growth over the last 12 years has recorded a CAGR of 105%
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term Borrowings |
|
|
|
Rupee term loans from banks |
875.000 |
894.000 |
|
|
|
|
|
Total |
875.000 |
894.000 |
INDEX
OF CHARGES: NO CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
- Roads
- Buildings
- Plant & Machinery
- Office Equipment - Others
- Office Equipment - Mobile Phones 3
- Computers and Data Processing Units
- Motor Vehicles
- Furniture and Fixtures
- Computer Software - ERP
- Computer Software - Others
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.78 |
|
|
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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.