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|
MIRA INFORM REPORT
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Report No. : |
494119 |
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Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRAXAIR INDIA PRIVATE LIMITED |
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|
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|
Registered
Office : |
Mercury 2 B Block, 6th Floor, Prestige Technology Park, Outer
Ring Road, Marathahalli, Bangalore – 560103, Karnataka |
|
Tel. No.: |
91-80-30691000 - 09 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
11.04.1996 |
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Com. Reg. No.: |
08-020272 |
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Capital
Investment / Paid-up Capital : |
INR 3565.500 Million |
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CIN No.: [Company Identification
No.] |
U24111KA1996PTC020272 |
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|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
29020085264 |
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GSTN : [Goods & Service Tax
Registration No.] |
29AAACP9993J1ZK |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACP9993J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in the business of manufacture,
trade and sale of atmospheric and process gases and related services. The Company is also engaged in trade
of healthcare and welding equipment. [Registered Activity] |
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|
|
|
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 38500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Praxair Pacific Limited”, Mauritius. It is
an established company incorporated in the year 1996 having satisfactory
track records. As per Registrar of Companies the date of balance sheet (i.e.
financial filed) shown as 31.03.2017 but the documents related to the
financial for the year 2017 are not available from any sources. As per available financials of 2016, the company has incurred a loss
from its operational activities. However, the company possesses sound financial risk profile marked by
healthy net worth base along with fair liquidity profile of the company. The company also derives strength from its strong holding entity and
its experienced management team. Trade relations are reported as fair. Business is active. Payments
terms are seems to be slow but correct. In view of strong holding support and sound financial base, 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
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
31-03-2016.
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 27.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.:91-80-30691000
/ 33-30294000)
LOCATIONS
|
Registered Office : |
Mercury 2 B Block, 6th Floor, Prestige Technology Park,
Outer Ring Road, Marathahalli, Bangalore – 560103, Karnataka, India |
|
Tel. No.: |
91-80-30691000 - 09 |
|
Fax No.: |
91-80-28440156 / 28440228 / 28440224 |
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E-Mail : |
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Website : |
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Sales Office 1 : |
DLF IT Park, 11th Floor, Tower A, #08 Major Arterial Road, Block AF
Action Area,1 Rajarhat New Town, Kolkata – 700156, West Bengal, India |
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Tel. No.: |
91-33-30294000 – 4099 |
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Sales Office : |
Also Located at
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Plant Location: |
Located at
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Carbon Dioxide Plants: |
Located at
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Anuj Sharma |
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|
Designation : |
Managing Director |
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Address : |
B-601, Salarpuria Silver Woods, Nagvaraplya, Old Madras Raod, Bangalore – 560093, Karnataka, India |
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Date of Birth/Age : |
03.08.1974 |
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Qualification : |
B.E-electronics |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
06407534 |
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Other Directorship:
|
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|
||||||||||||
|
Name : |
Mr. Sthanu Singh |
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|
Designation : |
Director |
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|
Address : |
A-504, Aishwarya Excellency, Vijinapura, Old Madras Road, K R Puram,
Bangalore – 560016, Karnataka, India |
||||||||||||
|
Date of Birth/Age : |
22.08.1975 |
||||||||||||
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Qualification : |
B.A. LLB |
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Date of Appointment : |
24.12.2008 |
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DIN No.: |
02500691 |
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Other Directorship:
|
|||||||||||||
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|
||||||||||||
|
Name : |
Mr. Aniruddha Gharote |
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|
Designation : |
Director |
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|
Address : |
C-402,Aisshwarya Excellency, Jyothipura Old Madras Road, Opposite Tin-Factory, Vijina Pura, Bangalore-560016, Karnataka, India |
||||||||||||
|
Date of Appointment : |
29.09.2016 |
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DIN No.: |
03386132 |
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|
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Name : |
Mr. Ragunathan Gunabooshanam |
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|
Designation : |
Director |
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|
Address : |
6074, Shobha Carnation Apartment Bellandure, Outer Ring Road, Bangalore -560103, Karnataka, India |
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Date of Birth/Age : |
19.06.1970 |
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Qualification : |
C.A. ICWA, MBA |
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Date of Appointment : |
03.03.2011 |
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DIN No.: |
03493727 |
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Other Directorship:
|
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|
||||||||||||
|
Name : |
Mr. Madipoti Venkatasri Ramakrishna |
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|
Designation : |
Director |
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|
Address : |
C-302, Aishwarya Excellency Apartment, Vijinapura Old Madras Road, Opposite Tin Factory, Bangalore-560016, Karnataka, India |
||||||||||||
|
Date of Birth/Age : |
15.06.1964 |
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Qualification : |
B.E. Mechanical |
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|
Date of Appointment : |
31.05.2013 |
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|
DIN No.: |
06611131 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Sreeja Nair |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 2221 Block D, Pranava Bsr Gitaar Panathur Marathahalli, Bangalore 560103, Karnataka, India |
|
Date of Appointment : |
11.07.2016 |
|
PAN No.: |
AHQPN5648E |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
R. Natarajan |
1* |
|
Anuj Sharma |
1* |
|
Sithani Singh |
1* |
|
Praxair Pacific Limited, Mauritius |
351951505 |
|
Praxair Luxembourg SARL, Luxembourg |
4499315 |
|
Praxair Inc |
101442 |
|
Ragunathan Gunabooshanam |
1 |
|
Total |
356552266 |
* Nominee shareholder, beneficial interest being held by Praxair Pacific
Limited.
AS ON 27.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacture,
trade and sale of atmospheric and process gases and related services. The Company is also engaged in trade
of healthcare and welding equipment. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditor 1 : |
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|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
Bangalore, Karnataka, India |
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PAN No.: |
AAAFB9852F |
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|
|
|
Auditor 2 : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountant |
|
Address : |
The Millenia, Tower D # 1 and 2 Murphy Road, Ulsoor Bangalore-560008, Karnataka, India |
|
PAN No.: |
AAHFP0187A |
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|
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
|
Holding Company : (As on 2017) |
Praxair Pacific Limited, Mauritius |
|
|
|
|
Subsidiary Company
: (As on 31.03.2016) |
JSW Praxair Oxygen Private Limited, India CIN No.: U85110KA1995PTC018868 |
|
|
|
|
Immediate Holding
Company : (As on 31.03.2016) |
Praxair Pacific Limited, Mauritius |
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|
|
|
Fellow Subsidiary
Company : (As on 31.03.2016) |
|
CAPITAL STRUCTURE
AS ON 27.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
413700000 |
Equity Shares |
INR 10/- each |
INR 4137.000 Million |
|
17100000 |
Preference Shares |
|
INR 171.000 Million |
|
|
Total |
|
INR 4308.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
356552266 |
Equity Shares |
INR 10/- each |
INR 3565.500 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 |
3565.500 |
3565.500 |
3228.400 |
|
(b) Reserves &
Surplus |
9914.800 |
10703.000 |
6708.100 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
1.000 |
|
Total Shareholders’ Funds
(1) + (2) |
13480.300 |
14268.500 |
9937.500 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
23036.600 |
23037.900 |
23044.100 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
467.200 |
448.400 |
|
(c) Other long term
liabilities |
168.300 |
194.200 |
209.300 |
|
(d) long-term provisions |
17.800 |
9.900 |
87.700 |
|
Total Non-current
Liabilities (3) |
23222.700 |
23709.200 |
23789.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2742.800 |
1660.600 |
1338.400 |
|
(b) Trade payables |
947.100 |
802.800 |
364.400 |
|
(c) Other current
liabilities |
826.200 |
747.000 |
4196.100 |
|
(d) Short-term provisions |
178.600 |
166.300 |
62.900 |
|
Total Current Liabilities
(4) |
4694.700 |
3376.700 |
5961.800 |
|
|
|
|
|
|
TOTAL |
41397.700 |
41354.400 |
39688.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
28666.100 |
26569.500 |
25249.100 |
|
(ii) Intangible Assets |
31.800 |
38.100 |
33.600 |
|
(iii) Capital
work-in-progress |
5973.700 |
8140.300 |
8259.800 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
7.100 |
1787.700 |
1783.200 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1304.100 |
1246.400 |
943.700 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
35982.800 |
37782.000 |
36269.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1783.900 |
0.000 |
0.000 |
|
(b) Inventories |
702.500 |
643.300 |
479.900 |
|
(c) Trade receivables |
2150.800 |
1805.100 |
1678.900 |
|
(d) Cash and cash
equivalents |
41.200 |
134.500 |
106.900 |
|
(e) Short-term loans and
advances |
522.700 |
648.100 |
961.000 |
|
(f) Other current assets |
213.800 |
341.400 |
192.700 |
|
Total Current Assets |
5414.900 |
3572.400 |
3419.400 |
|
|
|
|
|
|
TOTAL |
41397.700 |
41354.400 |
39688.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
17346.500 |
16003.800 |
13387.000 |
|
|
Other Income |
45.700 |
1214.100 |
216.500 |
|
|
TOTAL |
17392.200 |
17217.900 |
13603.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
9535.900 |
7707.600 |
5901.600 |
|
|
Purchases of
Stock-in-Trade |
654.600 |
640.000 |
716.700 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(20.200) |
(76.900) |
(50.300) |
|
|
Employees benefits
expense |
908.800 |
795.300 |
836.800 |
|
|
CSR expenditure |
4.300 |
1.200 |
0.000 |
|
|
Exceptional items |
0.000 |
0.000 |
(333.500) |
|
|
Other expenses |
2281.100 |
2121.600 |
2865.600 |
|
|
TOTAL |
13364.500 |
11188.800 |
9936.900 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
4027.700 |
6029.100 |
3666.600 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2727.000 |
2293.500 |
1819.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1300.700 |
3735.600 |
1847.500 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2556.100 |
2382.800 |
1713.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(1255.400) |
1352.800 |
134.100 |
|
|
|
|
|
|
|
Less |
TAX |
(467.200) |
46.300 |
42.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
(788.200) |
1306.500 |
91.200 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
61.200 |
23.400 |
9.700 |
|
|
other income |
19.500 |
181.300 |
123.000 |
|
|
TOTAL EARNINGS |
80.700 |
204.700 |
132.700 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
437.100 |
469.500 |
423.500 |
|
|
Components and spare
parts |
44.600 |
77.500 |
76.800 |
|
|
Capital Goods |
740.200 |
1331.700 |
1473.700 |
|
|
TOTAL IMPORTS |
1221.900 |
1878.700 |
1974.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(2.21) |
3.89 |
0.31 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
6.200 |
3050.000 |
|
Net cash flows from (used in) operations |
3957.300 |
4913.700 |
1751.000 |
|
Net cash flows from (used in) operating activities |
3898.900 |
4811.800 |
1580.600 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
45.26 |
41.17 |
45.78 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
8.07 |
8.87 |
7.97 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
33.92 |
35.10 |
20.10 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
5.73 |
9.37 |
7.64 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.12 |
0.17 |
0.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.64 |
0.81 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.91 |
1.73 |
2.76 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.35 |
0.24 |
0.60 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.57 |
2.44 |
3.38 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.48 |
2.63 |
2.02 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
(4.54) |
8.16 |
0.68 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.90) |
3.16 |
0.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(5.85) |
9.16 |
0.92 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.15 |
1.06 |
0.57 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.00 |
0.87 |
0.49 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.33 |
0.35 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.23 |
6.93 |
8.50 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.15 |
1.06 |
0.57 |
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 |
3228.400 |
3565.500 |
3565.500 |
|
Reserves & Surplus |
6708.100 |
10703.000 |
9914.800 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
1.000 |
0.000 |
0.000 |
|
Net worth |
9937.500 |
14268.500 |
13480.300 |
|
|
|
|
|
|
Long-term borrowings |
23044.100 |
23037.900 |
23036.600 |
|
Short term borrowings |
1338.400 |
1660.600 |
2742.800 |
|
Current Maturities of
Long term debt |
3050.000 |
6.200 |
0.000 |
|
Total borrowings |
27432.500 |
24704.700 |
25779.400 |
|
Debt/Equity ratio |
2.761 |
1.731 |
1.912 |
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 |
13387.000 |
16003.800 |
17346.500 |
|
|
|
19.547 |
8.390 |
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 |
13387.000 |
16003.800 |
17346.500 |
|
Profit/ (Loss) |
91.200 |
1306.500 |
(788.200) |
|
|
0.68% |
8.16% |
(4.54%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
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 |
NOTE: The registered address
of the company has been shifted from Praxair House, No. 8, Ulsoor Road,
Bangalore – 560042, Karnataka, India to the present address w.e.f. 27.02.2013.
BACKGROUND (As on
31.03.2016)
The company is engaged in the business of manufacture, trade and sale of atmospheric and process gases and related services. The Company is also engaged in trade of healthcare and welding equipment. It also constructs and operates air separation plants. The Company has been incorporated under the Companies Act, 1956 as a private limited company and has its registered office at Bangalore. The Company operates predominantly in the domestic Indian market. Praxair Inc, USA is the ultimate holding company of the Company.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
Short-term
borrowings |
|
|
|
Term loans |
2500.000 |
1660.000 |
|
Other loans and advances |
242.800 |
0.600 |
|
Total |
2742.800 |
1660.600 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Amount |
Address |
|
1 |
Y10299300 |
90197401 |
STATE BANK OF INDIA |
24/07/1998 |
35000000.0 |
Industrial Finance Branch, Bangalore-560025, Karnataka, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
2126.500 |
1650.800 |
|
Total |
2126.500 |
1650.800 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and equipment
- Furniture and Fixture
- Office equipment
- Leasehold improvements
- Computer equipments
- Vehicles
Intangible Asset:
- Goodwill
- Computer software
PRESS RELEASLE / WEBSITE DETAILS
JSW STEEL TO ACQUIRE
JSW PRAXAIR OXYGEN FOR INR 2400.000
MILLION
Date: Aug 17, 2016
MUMBAI: JSW Steel has agreed to buy out Praxair India's entire 74% stake in their joint venture JSW Praxair Oxygen for INR 2400.000 Million, making the industrial gases supplier its wholly owned subsidiary.
"The said acquisition is strategic in nature as it will provide the company the benefit of backward integration of this critical input," JSW Steel said in a regulatory filing on Tuesday. The Sajjan Jindal-led steelmaker currently sources industrial gases from JSW Praxair Oxygen Private Ltd (JPOPL) and others at prices based on long-term contracts. JPOPL has two air separation plants, each with a capacity of 2500 tonnes per day, at Toranagallu in Bellary district, Karnataka.
JSW Steel has steelmaking plant in Vijaynagar, Karnataka. The company had in
May said it plans capital expenditure of INR 43000.000 Million this fiscal and
INR 27000.000 Million in the next on improving logistics, setting up a tinplate
mill to expand higher-margin value-added products portfolio, and on other
operational efficiency projects. Deloitte Touche Tohmatsu India and Bharucha
and Partners, Advocates and Solicitors, carried out financial and legal due
diligence for the stake buy, the company said.
JSW Steel shares closed 1.39% up at INR 1748.65 apiece on the Bombay Stock Exchange on Tuesday. The stock has gained 81% in the last one year.
JSW Steel reported net profit of INR 11090.000 Million for the quarter ended June versus INR 211.900 Million a year earlier, helped by cost savings and better sales volume.
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 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 64.66 |
|
UK Pound |
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.