|
|
|
MIRA INFORM REPORT
|
Report No. : |
485419 |
|
Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KEVA FRAGRANCES PRIVATE LIMITED (w.e.f. 14.12.2016) |
|
|
|
|
Formerly Known
As : |
K V AROCHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Devkaran Mansion 36, Mangaldas Road, Mumbai – 400002, Maharashtra |
|
Tel. No.: |
91-22-21677700 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
01.08.1978 |
|
|
|
|
Com. Reg. No.: |
11-020545 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 12.222 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1978PTC020545 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK0375P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and trading of aroma ingredients. [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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “S H Kelkar and Company Limited”. India. It is an established company incorporated in the year 1978 having satisfactory track. As per Registrar of Companies the date of balance sheet (i.e., financial filed) is 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 witnessed a growth in its revenue but reported continuous losses from its operational activities. However, the company possesses sound financial profile marked by healthy net worth base along with negligible debt recorded by the company. The company also derives strength from its holding entity and long standing track record of business operations. Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. NOTE: During the year under review, Keva Fragrances Private Limited ("Transferor Company"), a wholly-owned subsidiary of the Company got amalgamated with K V Arochem Private Limited ("Transferee Company"), a wholly-owned subsidiary of the Company pursuant to the Scheme of Amalgamation (the "Scheme") sanctioned by the Honorable High Court of Bombay vide its order dated 22 September 2016. The Scheme came into effect on 15 November 2016 upon filing of the court order with the Registrar of Companies, Mumbai by the respective companies and pursuant thereto, the entire business and all the assets and liabilities, duties, taxes and obligations of the Transferor Company have been transferred to and vested in the Transferee Company from the Appointed Date i.e. 01 May 2015. Thereafter, the name of the Transferee Company was changed to ''Keva Fragrances Private Limited'' with effect from 14 December 2016. “Keva Fragrances Private Limited” (CIN
U24244MH1980PTC023362) got amalgamated with “K V Arochem Private Limited”
(CIN U24110MH1978PTC020545) with effect from 15th November 2016 and later
during 14th December 2016 “K V Arochem Private Limited” changed its name to
Keva Fragrances Private Limited” |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating= A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
23.02.2017 |
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 11.01.2018
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 (91-22-21677700)
LOCATIONS
|
Registered Office : |
Devkaran Mansion 36, Mangaldas Road, Mumbai – 400002, Maharashtra,
India |
|
Tel. No.: |
91-22-21677700 / 22069609 / 22019130 |
|
Fax No.: |
91-22-22081204 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Survey No. 636 and 637 (Part), Lal Bahadur Shastri Road, Mulund
(West), Mumbai – 400080, Maharashtra, India |
|
Tel. No.: |
91-22-21677777 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Prabha Ramesh Vaze |
|
Designation : |
Director |
|
Address : |
S H Kelkar and Co Limited, Bal Rajeshwar
Road, Mulund (West), Mumbai 400080, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1946 |
|
Date of Appointment : |
27.08.2010 |
|
PAN No.: |
AACPV8072H |
|
DIN No.: |
00509817 |
|
|
|
|
Name : |
Mr. Ramesh Vinayak Vaze |
|
Designation : |
Director |
|
Address : |
S H Kelkar and Co Limited, L.B.S. Marg,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
30.04.1941 |
|
Date of Appointment : |
20.11.1980 |
|
DIN No.: |
00509751 |
|
|
|
|
Name : |
Mr. Kedar Ramesh Vaze |
|
Designation : |
Director |
|
Address : |
S H Kelkar and Co Limited, L.B.S. Marg, Mulund
(West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1973 |
|
Date of Appointment : |
19.09.2001 |
|
DIN No.: |
00511325 |
|
|
|
|
Name : |
Mrs. Sangeeta Kapiljit Singh |
|
Designation : |
Director |
|
Address : |
9-A, Harbour Heights, A-Building, N. A. Sawant Marg, Colaba Mumbai – 400005, Maharashtra, India |
|
Date of Appointment : |
01.12.2016 |
|
DIN No.: |
06920906 |
|
|
|
|
Name : |
Mr. Nitin Ram Potdar |
|
Designation : |
Director |
|
Address : |
402/A-2, 4th Floor, Sumer Trinity Tower2, TPS-4,1052, New Prabhadevi Road, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Appointment : |
01.12.2016 |
|
DIN No.: |
00452644 |
KEY EXECUTIVES
|
Name : |
Ms. Ruchi Pramod Sathe |
|
Designation : |
Company Secretary |
|
Address : |
404, Rohini, Kores Nakshatra, Pokharan Road
No. 1, Thane (West), Thane – 400606, Maharashtra,
India |
|
Date of Appointment : |
01.05.2017 |
|
PAN No.: |
BRVPS5213E |
MAJOR SHAREHOLDERS
AS ON 10.08.2017
|
Names of Shareholders |
No. of Shares |
|
S.H. Kelkar and Company Limited, India |
743231 |
|
Ramesh Vinayak Vaze – Nominee of S.H. Kelkar and Company Limited,
India |
20 |
|
|
|
|
Total |
743251 |
Equity Share Break up (Percentage of Total Equity)
AS ON 10.08.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
0.100 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and trading of aroma ingredients. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank Housesenapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Batliboi and Purohit Chartered Accountants |
|
Address : |
National Insurance Building, 2nd Floor, 204, Dr. D N Road, Fort, Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-22077942 / 22014930 |
|
E-mail : |
|
|
PAN No.: |
AAAFB0915F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
·
S H Kelkar and Company Limited, India [L74999MH1955PLC009593] |
|
|
|
|
Subsidiary company
: |
· Keva Chemicals Private Limited, India [U24100MH2007PTC169546] |
|
|
|
|
Fellow Subsidiary
company : |
· Keva Flavours Private Limited, India [U15134MH1980PTC023361] · PFW Aroma Chemicals BV, Netherlands |
CAPITAL STRUCTURE
AS ON 10.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
INR 100/- each |
INR 75.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
743251 |
Equity Shares |
INR 100/- each |
INR 74.325 Million |
|
|
|
|
|
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
INR 100/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
122222 |
Equity Shares |
INR 100/- each |
INR 12.222 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 |
12.222 |
7.080 |
7.080 |
|
(b) Reserves & Surplus |
475.120 |
181.001 |
232.092 |
|
(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) |
487.342 |
188.081 |
239.172 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
182.415 |
266.011 |
330.549 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
7.085 |
8.042 |
9.526 |
|
Total Non-current
Liabilities (3) |
189.500 |
274.053 |
340.075 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
80.000 |
113.084 |
100.000 |
|
(b) Trade
payables |
244.382 |
212.312 |
199.327 |
|
(c) Other
current liabilities |
190.255 |
146.048 |
106.595 |
|
(d) Short-term
provisions |
4.561 |
7.485 |
1.831 |
|
Total Current
Liabilities (4) |
519.198 |
478.929 |
407.753 |
|
|
|
|
|
|
TOTAL |
1196.040 |
941.063 |
987.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
404.010 |
465.053 |
85.810 |
|
(ii)
Intangible Assets |
3.718 |
6.838 |
0.000 |
|
(iii)
Capital work-in-progress |
29.764 |
17.824 |
391.752 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
5.738 |
|
(b) Non-current Investments |
0.012 |
0.012 |
0.012 |
|
(c) Deferred tax assets (net) |
78.370 |
71.373 |
49.976 |
|
(d)
Long-term Loan and Advances |
9.512 |
14.245 |
17.535 |
|
(e) Other Non-current
assets |
0.025 |
0.025 |
0.025 |
|
Total Non-Current
Assets |
525.411 |
575.370 |
550.848 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
261.424 |
206.515 |
215.423 |
|
(c) Trade
receivables |
81.151 |
43.333 |
85.024 |
|
(d) Cash
and cash equivalents |
237.012 |
17.838 |
46.931 |
|
(e)
Short-term loans and advances |
85.970 |
97.769 |
88.326 |
|
(f) Other
current assets |
5.072 |
0.238 |
0.448 |
|
Total
Current Assets |
670.629 |
365.693 |
436.152 |
|
|
|
|
|
|
TOTAL |
1196.040 |
941.063 |
987.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
870.406 |
558.826 |
473.950 |
|
|
|
Other Income |
1.922 |
34.156 |
0.584 |
|
|
|
TOTAL |
872.328 |
592.982 |
474.534 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
499.036 |
287.694 |
296.821 |
|
|
|
Purchase of Stock-in-trade |
174.851 |
158.675 |
56.483 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(36.974) |
(42.105) |
3.493 |
|
|
|
Employee Benefits Expenses |
40.450 |
42.444 |
33.773 |
|
|
|
Exceptional items |
(8.265) |
0.000 |
(9.870) |
|
|
|
Other expenses |
131.343 |
129.657 |
121.460 |
|
|
|
TOTAL |
800.441 |
576.365 |
502.160 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
71.887 |
16.617 |
(27.626) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
37.247 |
42.484 |
11.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
34.640 |
(25.867) |
(38.956) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
62.375 |
44.873 |
8.188 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(27.735) |
(70.740) |
(47.144) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(6.997) |
(20.771) |
(15.586) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(20.738) |
(49.969) |
(31.558) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
(169.67) |
(706.00) |
(629.00) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
99.499 |
78.238 |
30.050 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
39.192 |
111.266 |
NA |
|
Net cash flows from (used in) operating activities before tax |
NA |
NA |
(17.956) |
|
Net cash flows from (used in) operating activities |
33.876 |
117.220 |
(19.053) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
34.03 |
28.30 |
65.48 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
10.73 |
12.90 |
5.57 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
132.37 |
173.61 |
205.93 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.27 |
0.08 |
(0.13) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.16 |
0.03 |
(0.06) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.87 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.74 |
2.43 |
1.93 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.07 |
2.55 |
1.70 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.90 |
2.60 |
2.02 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.93 |
0.39 |
(2.44) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
(2.38) |
(8.94) |
(6.66) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.73) |
(5.31) |
(3.20) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(4.26) |
(26.57) |
(13.19) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.29 |
0.76 |
1.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.79 |
0.33 |
0.54 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.41 |
0.20 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
29.61 |
64.60 |
65.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.29 |
0.76 |
1.07 |
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 |
7.080 |
7.080 |
12.222 |
|
Reserves & Surplus |
232.092 |
181.001 |
475.120 |
|
Net
worth |
239.172 |
188.081 |
487.342 |
|
|
|
|
|
|
Long Term borrowings |
330.549 |
266.011 |
182.415 |
|
Short Term borrowings |
100.000 |
113.084 |
80.000 |
|
Current maturities of long term debt |
30.050 |
78.238 |
99.499 |
|
Total
borrowings |
460.599 |
457.333 |
361.914 |
|
Debt/Equity
ratio |
1.926 |
2.432 |
0.743 |
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
|
473.950 |
558.826 |
870.406 |
|
|
|
17.908 |
55.756 |
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
|
473.950 |
558.826 |
870.406 |
|
Profit/(Loss) |
(31.558) |
(49.969) |
(20.738) |
|
|
(6.66%) |
(8.94%) |
(2.38%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in Report
(Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
STATE OF COMPANY
AFFAIRS
The company is involved in the manufacture and sale of aroma ingredients which are used to impart fragrance to various end-use products. During the financial year 2015-16, the company recorded total revenue of INR 872.300 million as against INR 592.900 million representing a growth of 45%. The Company incurred loss of INR 20.700 million as against a loss of INR 50.000 million previous year. This is mainly due to accelerated depreciation of INR 62.300 million on their new investment, however, the loss has been significantly reduced by 58.60% as compared to previous year. The operating cash flow of the Company is positive at INR 33.800 million. In the medium term, the company is confident of mitigating its losses and becoming profitable due to the Company’s ability to manufacture and sell value added aroma ingredients coming out from its state of the art manufacturing facilities.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G29362050 |
10627612 |
KOTAK MAHINDRA BANK LIMITED |
04/03/2016 |
28/09/2016 |
- |
180000000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MA400051IN |
|
2 |
G28903615 |
10293957 |
HDFC BANK LIMITED |
12/05/2011 |
01/11/2012 |
29/11/2016 |
150000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG LOWER PAREL W MUMBAI MH400013IN |
|
3 |
G25627688 |
10432009 |
SBICAP TRUSTEE COMPANY LIMITED |
23/05/2013 |
03/09/2013 |
22/11/2016 |
333570000.0 |
6TH FLOOR, APEEJAY HOUSE DINSHA WACHHA ROAD, CHURCH GATE MUMBAI MH400020IN |
|
4 |
B25647058 |
90185675 |
THE SANGLI BANK LIMITED |
22/01/1991 |
- |
09/11/2011 |
342004.0 |
296; PERIN NARIMAN STREET; FORT MUMBAI MH400001IN |
|
5 |
B25617739 |
90184478 |
THE SANGLI BANK LIMITED |
29/03/1979 |
- |
09/11/2011 |
1230000.0 |
296; PERIN NARIMAN STREET; FORT MUMBAI MH400001IN |
|
6 |
B25647280 |
90185870 |
THE SANGLI BANK LIMITED |
18/09/1992 |
- |
09/11/2011 |
3000000.0 |
296; PERIN NARIMAN STREET; FORT MUMBAI MH400001IN |
|
7 |
B25629304 |
90185425 |
THE SANGLI BANK LIMITED |
16/02/1989 |
- |
09/11/2011 |
1000000.0 |
296; PERIN NARIMAN STREET; FORT MUMBAI MH400001IN |
|
8 |
B25619271 |
90184715 |
THE SANGLI BANK LIMITED |
01/09/1982 |
- |
09/11/2011 |
135900.0 |
PERIN NARIMAN STREET; FORT MUMBAI MH400001IN |
|
9 |
B25629668 |
90185659 |
THE SANGLI BANK LIMITED |
04/12/1990 |
- |
09/11/2011 |
312700.0 |
296; PERIN NARIMAN STREET; FORT MUMBAI MH400001IN |
|
10 |
B25647553 |
90186118 |
THE SAROLI BANK LIMITED |
28/09/1994 |
23/09/1995 |
09/11/2011 |
4000000.0 |
MUMBAI BRANCH MUMBAI MH400001IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 63.74 |
|
|
1 |
INR 86.01 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.