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MIRA INFORM REPORT
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Report No. : |
483077 |
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Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
TATVA CHINTAN PHARMA CHEM PRIVATE LIMITED |
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Registered
Office: |
Plot No. 502/17, GIDC Estate, Ankleshwar, GIDC, Ankleshwar, Bharuch – 393002, Gujarat |
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Tel. No.: |
91-2646-253593/ 238991/ 220253/ 220184 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
12.06.1996 |
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Com. Reg. No.: |
04-029894 |
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Capital
Investment / Paid-up Capital : |
INR 80.350 Million |
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CIN No.: [Company Identification
No.] |
U24232GJ1996PTC029894 |
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IEC No.: |
3496002697 |
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GST No.: |
24AABCT0623N1ZG |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NOT Available |
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PAN No.: [Permanent Account No.] |
AABCT0623N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Active Pharmaceutical Ingredients and
Specialty Chemicals and Importer of Raw Material (Confirmed by Management) |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 926000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1996 and it is engaged in manufacturing and exporting of Active Pharmaceutical Ingredients and Specialty Chemicals. As per the available financials of 2016, the company has reported decline in its revenue as compared to previous year but has managed to maintain healthy profit margin of 8.19%. The satisfactory financial profile of the company is marked by adequate networth base along with negligible debt level. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. Trade relations are fair. Payment terms reported to be usually correct. In view of aforesaid, the company can be considered for normal business dealing at usual trade terms and conditions. Note: As per Registrar of Companies, the date of balance sheet i.e. financials filed is shown as 31st March, 2017 but documents related to the financials for the year 2017 are not available. |
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 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
07.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
07.11.2017 |
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 08.01.2017.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Shekhar Rasiklal Somani |
|
Designation : |
Director |
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Contact No.: |
91-9825445675 |
|
Date : |
05.01.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 502/17, GIDC Estate Ankleshwar, GIDC, Ankleshwar, Bharuch – 393002, Gujarat, India |
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Tel. No.: |
91-2646-253593/ 238991/ 220253/ 220184 |
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Mobile No.: |
91-9825445675 (Mr. Shekhar) |
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Fax No.: |
91-2646-238992 |
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E-Mail : |
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Website : |
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Area: |
1800 Sq. Mtr. |
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Location: |
Leased |
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Locality: |
Industrial |
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Warehouse: |
Near Asia Paint Chokdi, Ankleshwar – 393002, Gujarat, India |
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Location: |
Rented |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Chintan Nitinkumar Shah |
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Designation : |
Director |
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Address : |
16 Panchvati Society, Near Amrakunj Society Ellora Park, Vadodara - 390023, Gujarat, India |
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Date of Birth/Age : |
29.04.1973 |
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Qualification : |
B.E. (Computer Science) |
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Date of Appointment : |
12.06.1996 |
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DIN No.: |
00183618 |
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Other Directorship:
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Name : |
Mr. Shekhar Rasiklal Somani |
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Designation : |
Director |
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Address : |
202, 51/52, Mahavir Society, Zaveri Sadak, Navsari 396445, Gujarat, India |
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Date of Birth/Age : |
11.01.1974 |
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Qualification : |
(B. Pharma) Young Entrepreneurs |
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Date of Appointment : |
12.06.1996 |
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DIN No.: |
00183665 |
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Other Directorship:
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Name : |
Mr. Ajaykumar Mansukhlal Patel |
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Designation : |
Director |
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Address : |
103, Karuna Sagar, Society, Near Umrigar High School, Urma, Surat - 395007, Gujarat, India |
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Date of Birth/Age : |
27.02.1972 |
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Qualification : |
B.E. (Chemical) |
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Date of Appointment : |
12.06.1996 |
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Voter ID No.: |
CTL7468218 |
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DIN No.: |
00183745 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Hiral Kanubhai Gediya |
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Designation : |
Company Secretary |
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Address: |
104, Siddheshwar App, Near Gopal Dairy, Jaldhara Chowk, Ankleshshwar GIDC , Ankleshwar - 393002, Gujrat, India |
|
Date of Appointment : |
05.09.2017 |
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PAN No.: |
BFEPG5120B |
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|
Name : |
Mr. Himanshu |
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Designation : |
IT Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Chintan Shah |
2259500 |
|
Ajay Patel |
1688900 |
|
Somani Shekhar |
2355980 |
|
Somani Rasiklal |
108560 |
|
Shah Darshnaben |
147400 |
|
Patel Priti |
494400 |
|
Kajal Somani |
127860 |
|
Shital Shah |
92400 |
|
Somani Ranjanben |
57300 |
|
Somani Sheetal |
4400 |
|
Somani Samir |
24200 |
|
Chintan N. Shah (HUF) |
179000 |
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Pravin Chandra and Co. |
100 |
|
Ajay Patel (HUF) |
495000 |
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|
|
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Total |
8035000 |
AS ON 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Promoters –
Individual/ Hindu Undivided Family – Indian |
78.46 |
|
Public/ Other that Promoters – Individual/
Hindu Undivided Family – Indian |
21.54 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Active Pharmaceutical Ingredients and Specialty
Chemicals. (Confirmed by Management) |
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Products : |
· Phase Transfer Catalysts · Ionic liquids · Hydroxides ·
Bulk API |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Germany · USA · Switzerland |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· USA · China · Philippines |
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Terms : |
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Selling : |
Cash, Advance Payment and Credit (60/ 90 Days) |
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Purchasing : |
Cash, Advance Payment and Credit (60/ 90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and End Users
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No. of Employees : |
150 (Approximately) |
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Bankers : |
·
Bank of Baroda, Industrial Estate
Branch, GIDC, Ankleshwar - 393002, Gujarat, India · Citi Bank N.A. 8, Pelican, Gotri Road, Opp.
Race Course Tower, Abhishek Colony, Vadiwadi, Vadodara - 390007, Gujarat,
India |
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Facilities : |
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Auditors : |
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|
Name : |
Pathak Anjaria and Company Chartered Accountants |
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Address : |
Second Floor Leela Sadan, Near Mahakali Temple, Opposite Lakadi Pool Dandia Bazar, Vadodara – 390001, Gujarat, India |
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Tel. No.: |
91-265-6538755 |
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Mobile No.: |
91-9824016006/ 9825042970 |
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Fax No.: |
91-265-2420455 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AACFP0709R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8035000 |
Equity Shares |
INR 10/- each |
INR 80.350
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
80.350 |
80.350 |
43.600 |
|
(b) Reserves & Surplus |
243.779 |
169.687 |
115.734 |
|
(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) |
324.129 |
250.037 |
159.334 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
42.895 |
35.024 |
69.965 |
|
(b) Deferred tax liabilities (Net) |
9.225 |
11.079 |
12.896 |
|
(c)
Other long term liabilities |
2.203 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
54.323 |
46.103 |
82.861 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
167.946 |
159.229 |
137.973 |
|
(b)
Trade payables |
151.535 |
192.221 |
144.714 |
|
(c)
Other current liabilities |
1.693 |
0.291 |
2.680 |
|
(d)
Short-term provisions |
14.338 |
0.015 |
0.000 |
|
Total
Current Liabilities (4) |
335.512 |
351.756 |
285.367 |
|
|
|
|
|
|
TOTAL |
713.964 |
647.896 |
527.562 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
141.657 |
123.566 |
119.728 |
|
(ii)
Intangible Assets |
1.092 |
1.594 |
2.322 |
|
(iii)
Capital work-in-progress |
48.672 |
24.592 |
1.988 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
9.070 |
1.980 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
39.181 |
30.484 |
29.085 |
|
Total
Non-Current Assets |
239.672 |
182.216 |
153.123 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
182.186 |
130.093 |
108.599 |
|
(c)
Trade receivables |
195.190 |
245.853 |
188.873 |
|
(d)
Cash and cash equivalents |
35.741 |
22.075 |
25.776 |
|
(e)
Short-term loans and advances |
61.175 |
67.659 |
51.191 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
474.292 |
465.680 |
374.439 |
|
|
|
|
|
|
TOTAL |
713.964 |
647.896 |
527.562 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
899.285 |
1015.665 |
|
|
|
|
Other Income |
7.798 |
14.341 |
|
|
|
|
TOTAL (A) |
907.083 |
1030.006 |
804.558 |
|
|
|
(Due to market
fluctuation) |
|
||
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
514.178 |
|
|
|
|
|
Purchases of Stock-in-Trade |
2.103 |
0.090 |
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(36.828) |
(15.009) |
|
|
|
|
Employees benefits expense |
69.724 |
81.325 |
|
|
|
|
Other expenses |
203.622 |
186.794 |
|
|
|
|
TOTAL (B) |
752.799 |
904.924 |
697.464 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
154.284 |
125.082 |
107.094 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.022 |
22.735 |
19.819 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
138.262 |
102.347 |
87.275 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.929 |
18.639 |
8.329 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
116.333 |
83.708 |
78.946 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
42.080 |
27.165 |
26.659 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
74.253 |
56.543 |
52.287 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Good Calculated at FOB Basis |
497.869 |
699.190 |
456.821 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
226.307 |
0.000 |
0.000 |
|
|
|
Components and spare parts |
15.788 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
242.095 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
9.24 |
7.04 |
11.99 |
|
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 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
130.596 |
80.812 |
58.173 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
79.22 |
88.35 |
NA |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.61 |
4.13 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
107.13 |
107.64 |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.85 |
0.96 |
0.99 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.81 |
0.84 |
0.86 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.53 |
0.60 |
0.67 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.65 |
0.78 |
1.31 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.04 |
1.41 |
1.79 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.59 |
0.60 |
0.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
9.63 |
5.50 |
5.40 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
8.26 |
5.57 |
NA |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
10.40 |
8.73 |
9.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.91 |
22.61 |
32.82 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.41 |
1.32 |
1.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.87 |
0.95 |
0.93 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.45 |
0.39 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.62 |
2.42 |
4.77 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.41 |
1.32 |
1.31 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
43.600 |
80.350 |
80.350 |
|
Reserves & Surplus |
115.734 |
169.687 |
243.779 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
159.334 |
250.037 |
324.129 |
|
|
|
|
|
|
Long-term borrowings |
69.965 |
35.024 |
42.895 |
|
Short term borrowings |
137.973 |
159.229 |
167.946 |
|
Total
borrowings |
207.938 |
194.253 |
210.841 |
|
Debt/Equity
ratio |
1.305 |
0.777 |
0.650 |
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) |
|
Total Income |
804.558 |
1030.006 |
907.083 |
|
|
|
28.021 |
-11.934 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Total Income |
804.558 |
1030.006 |
907.083 |
|
Profit |
52.287 |
56.543 |
74.253 |
|
|
6.50% |
5.49% |
8.19% |
LOCAL AGENCY FURTHER INFORMATION
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G50035419 |
100115057 |
Citi Bank N.A. |
17/01/2017 |
- |
- |
100000000.0 |
8, PELICAN, GOTRI ROAD,
OPP. RACE COURSE TOWER,ABHISHEK COLONY, VADIWADI,VADODARAGJ390007IN |
|
2 |
C75771048 |
10612861 |
ICICI BANK LIMITED |
20/11/2015 |
- |
- |
383300000.0 |
9TH FLOOR JMC
HOUSE, OPP. PARIMAL GARDEN,AMBAWADI,AHMEDABADGJ380006IN |
|
3 |
C73780439 |
10609278 |
ICICI Bank Limited |
04/11/2015 |
- |
- |
383300000.0 |
2ND FLOOR, JAY
HOUSE, PLOT NO 42,HARIBHAKTI SOCIETY, NR. BIRD CIRCLE, OP
ROADVADODARAGJ390007IN |
|
4 |
C74688656 |
10611654 |
ICICI BANK LIMITED |
11/07/2015 |
- |
- |
6757000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
5 |
C74688896 |
10611637 |
ICICI BANK LIMITED |
03/07/2015 |
- |
- |
6757000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
6 |
C74689233 |
10611651 |
ICICI BANK LIMITED |
03/07/2015 |
- |
- |
6757000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
7 |
G24361966 |
10533636 |
ICICI Bank Limited |
14/10/2014 |
07/10/2016 |
- |
434300000.0 |
JMC HOUSE, 9TH
FLOORAMBAWADI, AHMEDABADAHMEDABADGJ380006IN |
|
8 |
C56072598 |
90110934 |
Bank of Baroda |
28/04/2005 |
26/03/2014 |
19/05/2015 |
248200000.0 |
BANK OF
BARODAGIDC, ANKLESHWARANKLESHWARGJ393002IN |
|
9 |
C56071418 |
90108123 |
Bank of Baroda |
27/05/2005 |
29/03/2014 |
19/05/2015 |
248200000.0 |
BANK OF BARODAGIDC,
ANKLESHWARANKLESHWARGJ393002IN |
|
10 |
C61112678 |
10348691 |
Bank Of Baroda |
12/04/2012 |
- |
15/07/2012 |
20000000.0 |
INDUSTRIAL ESTATE
BRANCH, PLOT NO. 67, G.I.D.CANKELSHWARBHARUCHGJ393002IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits from directors |
0.000 |
2.093 |
|
Intercorporate deposits |
15.000 |
15.000 |
|
Loans and advances from directors |
0.709 |
0.000 |
|
|
|
|
|
Total |
15.709 |
17.093 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from Laxmi Bhavan,
Lakkdpitha Road, Vadodara – 390001, Gujarat, India to the present address.
REVIEW OF BUSINESS ORERATIONS AND FUTURE
PROSPECTS
Operating Profit for the year increased by 35.09 % over that of the previous year while the profit before tax increased by 38.97 % from INR 83.708 million in FY 2014-15 to INR 116.333 million in FY 2015-16 despite reduction in turnover. The Increase in Operating Profit is mainly due to increase in sale of products with better margins as compared to earlier years.
Export Sales, Freight and Insurance reduced by 12.56 % from INR 714.925 million during FY 2014-15 to INR 625.110 million during FY 2015-16.
Domestic Sales also reduced by 9.69 % over previous year during the year.
During the previous fiscal, the Company implemented an aggressive plan to improve the operating efficiency across its manufacturing and materials management functions which helped the Company improve its margins. During the year, these initiatives were further consolidated. It contributed to the improvements in the operating margins.
A Capex of INR 150.000 million is underway at Dahej SEZ. The facility will come on stream in the second half of FY 2016-17. This unit will have dedicated manufacturing set-up for export market of the Company.
Through the year the technology teams worked hard to improve productivity, quality and costs of various products to offer a competitive
marketing edge to the business on one hand and flexibility of sourcing to the supply chain team on the other.
The Company maintained a good financial health with Net Interest Outflow of INR 9.320 million in FY 2015-16 against INR 12.668 million during FY 2014-15 despite investment of INR 74.126 million in capital expenditure and INR 6.656 million in wholly-owned subsidiary at USA.
The Company is fully committed to its responsibilities in health, safety and environment (HSE) management and has continued to make sizeable investments in HSE during the year.
FIXED ASSETS:
- Leasehold Land
- Factory Building
- Labor Quarters
- Administration Building
- Plant and Machinery
- Gas Cylinders
- Electrical Installations
- Effluent Treat Plant
- Two Wheelers
- Furniture and Fixtures
- Computer
- R and D Equipment
- Motor Car
- Office Equipment’s
- R and D Building
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 63.38 |
|
UK Pound |
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
NIR |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared by
: |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.