|
|
|
MIRA
INFORM REPORT
|
Report No. : |
490010 |
|
Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
LANXESS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
LANXESS House, Plot No.A-162-164, Road No.27, Wagle Estate, Opposite
ITI College, MIDC, Thane (West), Thane – 400604, Maharashtra |
|
Tel. No.: |
91-22-25871000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
20.02.2004 |
|
|
|
|
Com. Reg. No.: |
11-158377 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 10921.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119MH2004PTC158377 |
|
|
|
|
IEC No.: |
0504023039 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB3880A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Various Chemical and Chemical Intermediates. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a private limited company 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, specially
chemicals and plastics. For the financial year 2016, revenue of the company has slightly
declined as compared with previous year revenue but has maintained average
profit margin of 3.11%. The rating takes into consideration sound financial profile of the
company marked by adequate net worth 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. Note: As per Registrar of companies, the date of balance sheet i.e. financial
field is shown as 31st March, 2017 but documents related to the
financials for the year 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 |
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 06.02.2018
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.:
91-22-25871000)
LOCATIONS
|
Registered Office : |
LANXESS House, Plot No. A/162-164, Road No.27, Wagle Estate, Opposite
ITI College, MIDC, Thane (West), Thane – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25871000/ 25311234/ 21729200 |
|
Fax No.: |
91-22-25455039/ 25826348/ 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 : |
Plot No. 748/2/A, 748/3 and 748/4/B, GIDC, Jhagadia Industrial Estate, District: Bharuch – 393110, Gujarat, India |
|
Tel. No.: |
91-2645-226800 |
|
|
|
|
Factory 3 : |
29/3, |
|
|
|
|
Sales Offices : |
Located at: · New Delhi · Chennai · Kolkata |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. 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 |
||||||||
|
Qualification : |
Post
Graduate Degree in Business Management & PHD in Pharmacy |
||||||||
|
Date of Appointment : |
15.04.2013 |
||||||||
|
PAN No.: |
CHNPP7092P |
||||||||
|
DIN No.: |
06548546 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. 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 |
||||||||
|
Qualification : |
MSc
and PHD |
||||||||
|
Date of Appointment : |
10.03.2005 |
||||||||
|
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 |
||||||||
|
Qualification : |
B.
E. Mechanical and Post-Graduation in Computer |
||||||||
|
Date of Appointment : |
01.09.2009 |
||||||||
|
PAN No.: |
ADIPB2496A |
||||||||
|
DIN No.: |
02743360 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. 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 |
As on 31.03.2016
|
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 |
|
57600000 |
|
Total |
|
57600000 |
AS ON 25.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Various Chemical and Chemical Intermediates. [Registered Activity] |
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|
|
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|
Products / Services
: |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
Not Available |
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|
|
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Agencies Held : |
Not Available |
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|
|
||||||||
|
Exports : |
Not Divulged |
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|
|
|
||||||||
|
Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Associates Chartered Accountants |
|
Address : |
87, Nariman Bhavan, 227, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
PAN No.: |
AAAFS1034J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
LANXESS Deutschland GmbH , Germany |
|
|
|
|
Ultimate Holding
Company : |
LANXESS AG , Germany |
|
|
|
|
Fellow
Subsidiaries Companies: : |
|
CAPITAL STRUCTURE
After 26.09.2017
Authorised Capital : INR
13566.510 Million
Issued Capital : INR
10633.123 Million
AS ON 26.09.2017
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 31.03.2016
|
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 |
|
57600000 |
Preference Shares |
INR 10/- each |
INR 576.000
Million |
|
|
Total |
|
INR 10921.123 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10921.000 |
8147.000 |
7415.000 |
|
(b) Reserves and Surplus |
1086.000 |
577.000 |
553.000 |
|
(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 |
12007.000 |
8724.000 |
7968.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
894.000 |
4494.000 |
3608.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
17.000 |
137.000 |
17.000 |
|
(d) long-term
provisions |
390.000 |
315.000 |
62.000 |
|
Total Non-current
Liabilities |
1301.000 |
4946.000 |
3687.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
0.000 |
0.000 |
1332.000 |
|
(b) Trade
payables |
1242.000 |
1118.000 |
1075.000 |
|
(c) Other
current liabilities |
1454.000 |
1517.000 |
2949.000 |
|
(d) Short-term
provisions |
438.000 |
400.000 |
239.000 |
|
Total Current
Liabilities |
3134.000 |
3035.000 |
5595.000 |
|
|
|
|
|
|
TOTAL |
16442.000 |
16705.000 |
17250.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6648.000 |
6929.000 |
7226.000 |
|
(ii)
Intangible Assets |
426.000 |
495.000 |
661.000 |
|
(iii) Tangible assets
capital work-in-progress |
443.000 |
535.000 |
508.000 |
|
(iv)
Intangible assets under development |
6.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11.000 |
11.000 |
11.000 |
|
(c) Deferred tax assets (net) |
141.000 |
570.000 |
537.000 |
|
(d)
Long-term loans and advances |
578.000 |
504.000 |
723.000 |
|
(e) Other
Non-current assets |
0.000 |
1.000 |
1.000 |
|
Total Non-Current
Assets |
8253.000 |
9045.000 |
9667.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2409.000 |
2688.000 |
3200.000 |
|
(c) Trade
receivables |
3276.000 |
3202.000 |
3128.000 |
|
(d) Cash and
bank balances |
1348.000 |
402.000 |
141.000 |
|
(e)
Short-term loans and advances |
1156.000 |
1368.000 |
1113.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
1.000 |
|
Total
Current Assets |
8189.000 |
7660.000 |
7583.000 |
|
|
|
|
|
|
TOTAL |
16442.000 |
16705.000 |
17250.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
16388.000 |
17253.000 |
16167.000 |
|
|
Other Income |
199.000 |
55.000 |
132.000 |
|
|
TOTAL |
16587.000 |
17308.000 |
16299.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6728.000 |
7828.000 |
7443.000 |
|
|
Purchases of
Stock-in-Trade |
2855.000 |
3270.000 |
3625.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
265.000 |
398.000 |
(536.000) |
|
|
Employee benefit expense |
877.000 |
855.000 |
774.000 |
|
|
Exceptional items |
0.000 |
(113.000) |
0.000 |
|
|
Other expenses |
3357.000 |
3244.000 |
3143.000 |
|
|
TOTAL |
14082.000 |
15482.000 |
14449.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2505.000 |
1826.000 |
1850.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
428.000 |
716.000 |
739.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2077.000 |
1110.000 |
1111.000 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1139.000 |
1134.000 |
1099.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
938.000 |
(24.000) |
12.000 |
|
|
|
|
|
|
|
Less |
TAX |
429.000 |
(48.000) |
22.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
509.000 |
24.000 |
(10.000) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
6315.000 |
6698.000 |
6187.000 |
|
|
Indenting Commission |
288.000 |
329.000 |
309.000 |
|
|
Marketing Services |
20.000 |
21.000 |
22.000 |
|
|
Sale of Information Technology Services |
159.000 |
154.000 |
125.000 |
|
|
Others |
178.000 |
227.000 |
142.000 |
|
|
TOTAL EARNINGS |
6960.000 |
7429.000 |
6785.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3329.000 |
4330.000 |
4106.000 |
|
|
Packing Material |
19.000 |
25.000 |
21.000 |
|
|
Stores, Spares and Components |
11.000 |
11.000 |
16.000 |
|
|
Traded Goods |
2248.000 |
2675.000 |
2629.000 |
|
|
Capital Goods |
92.000 |
54.000 |
45.000 |
|
|
TOTAL IMPORTS |
5699.000 |
7095.000 |
6817.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.54 |
0.04 |
(0.02) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
960.000 |
1249.000 |
2270.000 |
|
Net cash flows from (used in) operations |
2836.000 |
2318.000 |
1060.000 |
|
Net cash flows from (used in) operating activities |
2627.000 |
2175.000 |
1041.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
72.96 |
67.74 |
70.62 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.00 |
5.39 |
5.17 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
47.31 |
36.77 |
35.45 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.04 |
0.68 |
0.58 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.33 |
0.23 |
0.22 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.30 |
0.53 |
0.67 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.15 |
0.66 |
0.90 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.26 |
0.35 |
0.70 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.63 |
0.91 |
1.05 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.85 |
2.55 |
2.50 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
3.11 |
0.14 |
(0.06) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.10 |
0.14 |
(0.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.24 |
0.28 |
(0.13) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.61 |
2.52 |
1.36 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.84 |
1.64 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.73 |
0.52 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.17 |
0.70 |
0.97 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.61 |
2.52 |
1.36 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
7415.000 |
8147.000 |
10921.000 |
|
Reserves & Surplus |
553.000 |
577.000 |
1086.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
7968.000 |
8724.000 |
12007.000 |
|
|
|
|
|
|
Long-term borrowings |
3608.000 |
4494.000 |
894.000 |
|
Short term borrowings |
1332.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
2270.000 |
1249.000 |
960.000 |
|
Total
borrowings |
7210.000 |
5743.000 |
1854.000 |
|
Debt/Equity
ratio |
0.905 |
0.658 |
0.154 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
16167.000 |
17253.000 |
16388.000 |
|
|
|
6.717 |
(5.014) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
16167.000 |
17253.000 |
16388.000 |
|
Profit/ (Loss) |
(10.000) |
24.000 |
509.000 |
|
|
(0.06%) |
0.14% |
3.11% |
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 |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
Litigations that the firm/promoter
involved in |
Yes |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the Annual
Report |
No |
NOTE: Registered office of the company has been
shifted from Kolshet Road, Thane-400607, Maharashtra, India
to the present address w.e.f. 01.01.2012
BACKGROUND
The company, 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. Their 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 Material Science 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 their 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 Crop Science Limited (BCS).
FINANCIAL PERFORMANCE
Revenue from Operations decreased by 5% from INR 17253.000 Million to INR 16388.000 Million in the current year. In terms of Sales of products it has gone down by INR 771.000 Million from INR 17095.000 Million to INR 16324.000 Million in the current year. However, corresponding sales volume have increased by 5235 tons. Sales have been largely impacted by the steep fall in raw material prices which is the effect of fall in crude oil prices. The raw material prices directly and immediately impacted the selling price of the products for all the Business Units. A view of the three segments of LANXESS shows reduction in sales value i.e. “Performance Chemicals” (-7%), “Advanced Intermediates” (-4%) and “Performance Polymers” (-2%). Volume growth for these segments are: “Performance Chemicals” (+6%), Advanced Intermediates” (+1%),“Performance Polymers” (-1%). Sales of products within India have decreased by 4% to INR 9832.000 Million while exports have decreased by 5% to INR 6492.000 Mio. Overall sales of manufactured goods have decreased by 2% to INR 12897.000 Million whereas corresponding sales volume have increased by 2% to 258655 tons. The decrease in value is mainly seen in the Business Units “Advanced Industrial Intermediates” (-4%) and “High Performance Materials” (-3%) while some other Business Units enjoyed high growth, such as “Rhein Chemie Additives” (+7%) and “Leather”(+12%). Overall Sales of traded goods have decreased by 12% to INR 3427.000 Million whereas the corresponding sales volume have increased by 5% to 20,628 tons. The decrease is mainly seen in Business Units “Material Protection Products” (-88%) and “Advanced Industrial Intermediates” (-9%) while some other Business Units enjoyed significant growth, such as “Inorganic Pigments”(+28%) and “Rhein Chemie Additives” (+18%).
The Indian economy continued its recovery growing at 7.6% in FY 16 making it the fastest growing major economy globally. Growth in the manufacturing sector still continues to remain muted although the macro - indicators are on the positive side. The chemical sector saw a moderate growth of 3.8% in FY 16. Two years of below average rainfall has significantly affected the agro sector which has its direct bearings on the segment “Advances Intermediates”. Passenger Vehicles segment continued its moderate recovery, while the commercial vehicle segment showed a strong growth in sales. On an overall basis, Tire production showed a moderate growth, but the industry is being affected by cheap tire imports from China. India's overall growth outlook remains positive, although a significant demand drive and consumption is dependent on a strong forecasted monsoon season, implementation of reforms, increased investments in the infrastructure segment and inflation control (below 6%).
The moderate growth in the Passenger Vehicle and Commercial Vehicle segment resulted in additional demand for products manufactured at Jhagadia Site especially the “Antioxidants” business (erstwhile Business Unit “Rubber Chemicals”) of Business Unit “Advanced Industrial Intermediates” (BU AII) leading to higher production by 1,315 tons to reach a record high volume of 8,871 tons for the said business line only.
Business Unit “Liquid Purification Technologies” (BU LPT) also recorded additional production in the current year by 1089 tons. Overall, Jhagadia Site saw a 5.6% increase in capacity utilization. Capacities at Nagda Site were also utilized marginally higher than that of last year resulting in higher production by 2886 tons.
Sales for the first two months of the financial year 2016-17 has seen a growth of 5.6% in volumes. Crude Oil prices have seen a northward trend since January 2016 which has had a direct impact on the global pricing of key raw materials and also on finished goods.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
894.000 |
4494.000 |
|
Total |
894.000 |
4494.000 |
INDEX OF CHARGE: NO
CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
Tangible Asset:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
Intangible Asset:
·
Goodwill
·
Computer software
·
Copyrights, patents and other operating rights
·
Commercial contractual rights
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.03 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
POJ |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
TRUP |
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.