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|
|
MIRA INFORM REPORT
|
Report No. : |
485382 |
|
Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUDARSHAN CHEMICAL INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
162, Wellesley Road, Pune-411001, Maharashtra |
|
Tel. No.: |
91-20-26058888 |
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|
Country : |
India |
|
|
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|
Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
19.02.1951 |
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Com. Reg. No.: |
11-008409 |
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Capital
Investment / Paid-up Capital : |
INR 138.455 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
L24119PN1951PLC008409 |
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IEC No.: |
0388017520 |
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GST No.: |
27AABCS4223P1Z3 |
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TIN No.: |
27840407856 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AABCS4223P |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The company is mainly into the Manufacturer of Organic, Inorganic,
High Performance and Speciality Pigments and Pesticides. [Registered
Activity] |
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|
|
|
No. of Employees
: |
870 [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 11299000 |
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|
|
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1951 and it is engaged in manufacturing and exporting of Organic and Inorganic Pigments, Intermediates and Agro Chemicals. As per the financial record of 2017, the company has achieved 7.09% growth in its revenue as per compared to previous year and has maintained fair profitability margin at 6.92% during the year under review. Rating takes into consideration sound financial profile of the company marked by adequate networth base along with negligible debt level. Rating also derives strength from company’s established track record of business operations and promoters extensive industry experience. Rating takes into consideration the company’s favourable Earnings Per Share (EPS) of INR 12.92 as against its Face Value (FV) of INR 2. The company has its share price trading at around INR 448.65 on BSE as on January 09, 2017 as against its Face value of INR 2. Business is active. Payments are reported to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal 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 (30.06.2017) |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Commercial Paper = A1+ |
|
Rating Explanation |
Very string degree of safety and carry lowest credit risk |
|
Date |
25.09.2017 |
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 DECLINED BY
|
Name : |
Mr. S M Patil |
|
Designation : |
Purchase Manager |
|
Contact No.: |
91-8605002717 |
MANAGEMENT NON-COOPERATIVE [91-20-26058888/ 26058046]
LOCATIONS
|
Registered / Global Head Office : |
162, Wellesley Road, Pune-411001, Maharashtra,
India |
|
Tel. No.: |
91-20-26058888/ 26058046/ 26226200/ 26226251 |
|
Mobile No.: |
91-8605002717 [Mr. S M Patil] |
|
Fax No.: |
91-20-26058222 |
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E-Mail : |
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Website : |
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|
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Factory 1 : |
46, MIDC Estate, Dhatav, Roha, District Raigad – 402116, Maharashtra,
India |
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Factory 2 : |
Plot No.A-19/1+2, MIDC Estate, Mahad, District Raigad – 402301,
Maharashtra, India |
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Factory 3 : |
Gate No. 1559, Shelar Casti, Chikhali, Pune-411062, Maharashtra, India
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Research and Development : |
Ambadwet, Gat No. 126/127/136, Amralewadi, Ambadwet, Taluka
- Mulshi, District - Pune, Maharashtra, India |
|
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Branch Offices : |
Located at: ·
New Delhi ·
Kolkata ·
Mumbai ·
Chennai |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Subramanian Padmanabhan |
|
Designation : |
Director |
|
Address : |
30, Vishrambagh Society, Senapati Bapat Road, Pune-411016, Maharashtra, India |
|
Date of Appointment : |
25.09.2002 |
|
DIN No.: |
00001207 |
|
|
|
|
Name : |
Mr. Sanjay Khatau Asher |
|
Designation : |
Director |
|
Address : |
32, Mody Street, Fort, Mumbai-400001, Maharashtra, India |
|
Date of Appointment : |
24.01.2009 |
|
DIN No.: |
00008221 |
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|
|
Name : |
Mr. Kishor Laxminarayan Rathi |
|
Designation : |
Executive Chairman |
|
Address : |
C-4, Abhimanshree Society, Pashan Road, Pune-411008, Maharashtra, India |
|
Date of Appointment : |
29.06.1995 |
|
DIN No.: |
00018567 |
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|
|
|
Name : |
Mr. Pradeep Ramwilas Rathi |
|
Designation : |
Chairman And Managing Director (w.e.f. 16.08.2015) |
|
|
2, Boat Club Road, Pune-411001, Maharashtra, India |
|
Date of Appointment : |
08.11.1995 |
|
DIN No.: |
00018577 |
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|
|
|
Name : |
Mr. Narayandas Jagannath Rathi |
|
Designation : |
Director |
|
Address : |
113/3, Koregaon Park, General Post Office, Bund Garden, Pune-411001, Maharashtra, India |
|
Date of Appointment : |
30.01.2003 |
|
DIN No.: |
00018597 |
|
|
|
|
Name : |
Mr. Ajoy Balkrishna Rathi |
|
Designation : |
Director |
|
Address : |
60, Baner Road, Aundh, Pune-411007, Maharashtra, India |
|
Date of Appointment : |
11.11.2016 |
|
DIN No.: |
00018614 |
|
|
|
|
Name : |
Mr. Rajesh Balkrishna Rathi |
|
Designation : |
Managing Director |
|
Address : |
Sr. No. 277, Plot No. 4/8, Lane No. 3, Pallod Farm, Pune-411045, Maharashtra, India |
|
|
23.05.2008 |
|
DIN No.: |
00018628 |
|
|
|
|
Name : |
Mr. Shrikrishna Narhar Inamdar |
|
Designation : |
Director |
|
Address : |
2 A, Ameya Apts.,1193-B, Kashinath Dhuru Road, Dadar (West), Mumbai-400028, Maharashtra, India |
|
Date of Appointment : |
02.08.1989 |
|
DIN No.: |
00025180 |
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|
|
|
Name : |
Mrs. Rati Farhad Forbes |
|
Designation : |
Director |
|
Address : |
30, Koregaon Park, Pune-411001, Maharashtra, India |
|
Date of Appointment : |
29.03.2014 |
|
DIN No.: |
00137326 |
|
|
|
|
Name : |
Mr. Dara Nadirshaw Damania |
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Designation : |
Director |
|
Address : |
11, Abbas Road, 11, G.G Thakkar Road, Pune-411001, Maharashtra, India |
|
Date of Appointment : |
20.11.1984 |
|
DIN No.: |
00403834 |
|
|
|
|
Name : |
Mr. Naresh Thakurdas Raisinghani |
|
Designation : |
Director |
|
Address : |
5/13, Prem Prakash CHS, Laxmi Colony, Mahul Road, Chembur, Mumbai-400074, Maharashtra, India |
|
Date of Appointment : |
13.02.2015 |
|
DIN No.: |
00568298 |
|
|
|
|
Name : |
Mrs. Shubhalakshmi Aamod Panse |
|
Designation : |
Director |
|
Address : |
SNo.130/132, Roseland Ph-II Pim. Saudagar, Rhno.B/3, Pune-411027, Maharashtra, India |
|
Date of Appointment : |
27.05.2015 |
|
DIN No.: |
02599310 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Thakur |
|
Designation : |
Chief Financial Officer |
|
Address : |
C-18, Konark Campus, Viman Nagar, Pune-411014, Maharashtra, India |
|
Date of Appointment : |
20.03.2015 |
|
PAN No.: |
ACDPT3314P |
|
|
|
|
Name : |
Mr. P. S. Raghavan |
|
Designation : |
Company Secretary |
|
Address : |
E - 3/203, Hariganga, Yerwada, Pune-411006, Maharashtra, India |
|
Date of Appointment : |
16.08.2010 |
|
PAN No.: |
ADBPS4280N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % of (A+B+C2) |
|
|
(A) Promoter &
Promoter Group |
36616260 |
52.89 |
|
|
(B) Public |
32610990 |
47.11 |
|
|
Grand Total |
69227250 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated
as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
34364160 |
49.64 |
|
|
PRADEEP R RATHI |
3823450 |
5.52 |
|
|
RACHANA RAJESH
RATHI |
5000 |
0.01 |
|
|
RAJESH BALKKRISHNA
RATHI - TRUSTEE OF RACHNA RATHI FAMILY TRUST |
1208250 |
1.75 |
|
|
AJOY BALKRISHNA
RAHI - TRUSTEE MANANRATHI TRUST |
827900 |
1.20 |
|
|
KISHOR L RATHI |
1074300 |
1.55 |
|
|
NARAYANDAS J RATHI |
2417650 |
3.49 |
|
|
ROHIT KISHOR RATHI |
2175950 |
3.14 |
|
|
SUBHDRA PRADEEP
RATHI |
1313680 |
1.90 |
|
|
RAJESH BALKKRISHNA
RATHI - TRUSTEE OF BALKRISHNA RATHI FAMILY TRUST |
845200 |
1.22 |
|
|
RAJESH BALKRISHNA
RATHI |
3284140 |
4.74 |
|
|
AJOY BALKRISHNA
RAHI |
2051060 |
2.96 |
|
|
BALKRISHNA
JAGANNATH - HUF |
189750 |
0.27 |
|
|
ANUJ NARAYANDAS
RATHI |
3827620 |
5.53 |
|
|
RAHUL PRADEEP
RATHI |
4754540 |
6.87 |
|
|
ARCHAN ANUJ RATHI |
727490 |
1.05 |
|
|
ANUJ NARAYANDAS
RATHI - HUF |
567770 |
0.82 |
|
|
ARUNA KISHOR RATHI |
2924350 |
4.22 |
|
|
KUSUM RAMWILAS
RATHI |
362790 |
0.52 |
|
|
AJOY BALKRISHNA
RATHI - HUF |
1030000 |
1.49 |
|
|
RAJESH BALKRISHNA
RATHI - HUF |
133000 |
0.19 |
|
|
KUSUM BALKRISHNA
RATHI |
100900 |
0.15 |
|
|
NISHA AJOY RATHI |
719370 |
1.04 |
|
|
Any Other
(specify) |
2252100 |
3.25 |
|
|
NJR FINANCE
PRIVATE LIMITED |
1090630 |
1.58 |
|
|
LAXMINARAYAN
FINANCE PRIVATE LIMITED |
698920 |
1.01 |
|
|
BALKRISHNA RATHI
FINANCE PRIVATE LIMITED |
462550 |
0.67 |
|
|
Sub Total A1 |
36616260 |
52.89 |
|
|
A=A1+A2 |
36616260 |
52.89 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
736475 |
1.06 |
|
|
Alternate
Investment Funds |
507058 |
0.73 |
|
|
Foreign Portfolio
Investors |
3317081 |
4.79 |
|
|
GOLDMANSACHS INDIA
LIMITED |
1080068 |
1.56 |
|
|
GOVERNMENT PENSION
FUND GLOBAL |
1689395 |
2.44 |
|
|
Financial
Institutions/ Banks |
31763 |
0.05 |
|
|
Insurance
Companies |
341130 |
0.49 |
|
|
Sub Total B1 |
4933507 |
7.13 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0.00 |
||
|
B3)
Non-Institutions |
0.00 |
||
|
Individual share
capital up to INR 0.200 Million |
11940562 |
17.25 |
|
|
Individual share
capital in excess of INR 0.200 Million |
7084275 |
10.23 |
|
|
VIJAYKUMAR
RAMCHANDRA RATHI |
1761972 |
2.55 |
|
|
ANURADHA VASANT
RATHI |
762009 |
1.10 |
|
|
VIJAY KISHANLAL
KEDIA |
2465000 |
3.56 |
|
|
Any Other
(specify) |
8652646 |
12.50 |
|
|
Trusts |
6395 |
0.01 |
|
|
Foreign
Individuals |
650 |
0.00 |
|
|
Overseas corporate
bodies |
5579890 |
8.06 |
|
|
HUF |
380561 |
0.55 |
|
|
NRI – Repat |
313503 |
0.45 |
|
|
NRI – Non- Repat |
129023 |
0.19 |
|
|
Clearing Members |
235507 |
0.34 |
|
|
Bodies Corporate |
2007117 |
2.90 |
|
|
Sub Total B3 |
27677483 |
39.98 |
|
|
B=B1+B2+B3 |
32610990 |
47.11 |
BUSINESS DETAILS
|
Line of Business : |
The company is mainly into the Manufacturer of Organic, Inorganic,
High Performance and Speciality Pigments and Pesticides. [Registered
Activity] |
|
|
|
|
Brand Names : |
·
Sudaperm ·
Sudafast ·
Sudacolor ·
Sumica ·
Sumicos |
|
|
|
|
Agencies Held : |
Not Divulged |
|
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Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
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Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: [NOT AVAILABLE]
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
870 [Approximately] |
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Bankers : |
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Facilities : |
|
|
|
|
|
Statutory Auditors : |
|
|
Name : |
B. K. Khare and Company Chartered Accountants |
|
Address : |
706/708, Sharda Chambers New Marine Lines, Mumbai-400020, Maharashtra,
India |
|
|
|
|
Secretarial Auditors : |
|
|
Name : |
Rajesh Karunakaran and Company Company Secretaries |
|
Address : |
Pune, Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Companies : |
(Sudarshan CSR Foundation (CSR foundation): a wholly owned subsidiary
of Sudarshan Chemical Industries Limited (company), is a “not for profit
Company” under Section 8 of the Companies Act, 2013, Main objects of CSR
foundation is to carry out CSR activities as per the CSR policies of the
Company. As the Company is not deriving any economic benefits from the
activities of CSR foundation, the same is not considered for consolidation). |
|
|
|
|
Entities in which Key Management Personnel and / or their relatives
exercise significant influence (SIKMP) : |
|
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
INR 2/- each |
INR 150.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
*66227750 |
Equity Shares |
INR 2/- each |
INR 138.456
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
69227250 |
Equity Shares |
INR 2/- each |
INR 138.455
Million |
|
|
|
|
|
*Allotment of 500 Rights Equity Shares of INR 2 each is kept in abeyance, matter being sub-judice.
Reconciliation of
the shares outstanding at the beginning and at the end of the year:
|
Particulars |
No. of shares |
Amount (INR in Million) |
|
At the beginning of the year |
69227250 |
138.455 |
|
Add : Issued
during the year |
-- |
-- |
|
Less: Shares bought
back during the year |
-- |
-- |
|
Outstanding at the end of the year |
69227250 |
138.455 |
FINANCIAL DATA
[all figures are in
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
138.455 |
138.455 |
138.455 |
|
(b) Reserves & Surplus |
3816.244 |
3130.454 |
2664.137 |
|
(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) |
3954.699 |
3268.909 |
2802.592 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1368.093 |
2083.082 |
1555.978 |
|
(b) Deferred tax liabilities (Net) |
459.358 |
344.286 |
361.493 |
|
(c)
Other long term liabilities |
45.128 |
38.772 |
34.961 |
|
(d)
long-term provisions |
128.006 |
109.806 |
108.784 |
|
Total
Non-current Liabilities (3) |
2000.585 |
2575.946 |
2061.216 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1366.161 |
1047.156 |
1489.719 |
|
(b)
Trade payables |
2032.682 |
1713.445 |
1552.167 |
|
(c)
Other current liabilities |
1412.545 |
917.988 |
932.141 |
|
(d)
Short-term provisions |
14.167 |
61.334 |
176.200 |
|
Total
Current Liabilities (4) |
4825.555 |
3739.923 |
4150.227 |
|
|
|
|
|
|
TOTAL |
10780.839 |
9584.778 |
9014.035 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4043.967 |
3147.875 |
2935.291 |
|
(ii)
Intangible Assets |
131.795 |
135.468 |
156.455 |
|
(iii)
Capital work-in-progress |
80.231 |
154.348 |
74.941 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
533.862 |
482.862 |
492.862 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
240.910 |
341.050 |
223.506 |
|
(e)
Other Non-current assets |
58.139 |
2.500 |
0.000 |
|
Total
Non-Current Assets |
5088.904 |
4264.103 |
3883.055 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1867.441 |
1693.441 |
1726.254 |
|
(c)
Trade receivables |
2882.700 |
2894.432 |
2658.753 |
|
(d)
Cash and cash equivalents |
129.368 |
214.904 |
186.155 |
|
(e)
Short-term loans and advances |
492.208 |
457.896 |
458.205 |
|
(f)
Other current assets |
320.218 |
60.002 |
101.613 |
|
Total
Current Assets |
5691.935 |
5320.675 |
5130.980 |
|
|
|
|
|
|
TOTAL |
10780.839 |
9584.778 |
9014.035 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
12928.601 |
12072.564 |
10882.938 |
|
|
|
Other Income |
227.270 |
128.815 |
248.832 |
|
|
|
TOTAL |
13155.871 |
12201.379 |
11131.770 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
7164.848 |
6596.408 |
6391.077 |
|
|
|
Purchases of Stock-in-Trade |
493.013 |
346.775 |
324.083 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(155.742) |
64.060 |
(51.314) |
|
|
|
Employees benefits expense |
788.333 |
717.794 |
752.555 |
|
|
|
Other expenses |
2903.430 |
2790.065 |
2374.964 |
|
|
|
TOTAL |
11193.882 |
10515.102 |
9791.365 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1961.989 |
1686.277 |
1340.405 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
245.032 |
263.501 |
346.669 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1716.957 |
1422.776 |
993.736 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
498.778 |
437.908 |
397.526 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1218.179 |
984.868 |
596.210 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
324.083 |
268.582 |
172.137 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
894.096 |
716.286 |
424.073 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB Basis |
5078.906 |
5176.020 |
4612.490 |
|
|
|
Other |
2.692 |
1.688 |
4.369 |
|
|
TOTAL EARNINGS |
5081.598 |
5177.708 |
4616.859 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials [Including through canalizing Agencies] |
1853.171 |
1897.390 |
2902.786 |
|
|
|
Stores & Components |
45.632 |
33.171 |
15.566 |
|
|
|
Capital Goods |
31.755 |
5.461 |
8.407 |
|
|
TOTAL IMPORTS |
1930.558 |
1936.022 |
2926.759 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
12.92 |
10.35 |
6.13 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
CURRENT
MATURITIES OF LONG TERM DEBT |
|
|
|
|
SECURED LOAN FROM
BANKS |
|
|
|
|
Rupee Loans |
|
|
|
|
Export - Import Bank of India (EXIM Bank) |
37.500 |
37.600 |
67.500 |
|
State Bank of India |
60.000 |
60.000 |
60.000 |
|
Bank of Maharashtra |
0.000 |
0.000 |
79.849 |
|
Foreign Currency
Loans |
|
|
|
|
Export - Import Bank of India (EXIM Bank) |
|
|
|
|
State Bank of India |
0.000 |
21.559 |
21.003 |
|
|
331.326 |
196.794 |
133.010 |
|
UNSECURED LOANS |
|
|
|
|
Loans and Advances
from others |
|
|
|
|
Intercorporate Deposits |
15.170 |
6.110 |
70.975 |
|
Fixed Deposits |
|
|
|
|
From Public |
3.620 |
0.000 |
0.000 |
|
From Shareholders |
70.130 |
0.000 |
0.000 |
|
Loans and
Advances from Others: |
|
|
|
|
Intercorporate Deposits |
28.900 |
18.610 |
9.550 |
|
Fixed Deposits |
|
|
|
|
From Public |
268.185 |
0.000 |
0.000 |
|
From Shareholders |
61.790 |
0.000 |
0.000 |
|
Total |
876.621 |
340.673 |
441.887 |
|
|
|
|
|
|
Cash generated from/ (used in) operations |
1689.075 |
1710.850 |
1639.047 |
|
|
|
|
|
|
Net Cash flow from (used in) Operating Activities |
1394.451 |
1519.979 |
1496.772 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
81.38 |
87.51 |
89.17 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.48 |
4.17 |
4.09 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
96.88 |
90.08 |
84.37 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.05 |
1.00 |
0.78 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.46 |
0.49 |
0.42 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.66 |
0.64 |
0.68 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.91 |
1.06 |
1.24 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.22 |
1.14 |
1.48 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.08 |
1.05 |
1.13 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
8.01 |
6.40 |
3.87 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
6.92 |
5.93 |
3.90 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.29 |
7.47 |
4.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.61 |
21.91 |
15.13 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.18 |
1.42 |
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.79 |
0.97 |
0.82 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.37 |
0.34 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
26.08 |
25.07 |
25.19 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.18 |
1.42 |
1.24 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
|
|
|
Market Value |
INR 448.65/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
138.455 |
138.455 |
138.455 |
|
Reserves & Surplus |
2664.137 |
3130.454 |
3816.244 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2802.592 |
3268.909 |
3954.699 |
|
|
|
|
|
|
long-term borrowings |
1555.978 |
2083.082 |
1368.093 |
|
Short term borrowings |
1489.719 |
1047.156 |
1366.161 |
|
Current Maturities of Long
term debt |
441.887 |
340.673 |
876.621 |
|
Total
borrowings |
3487.584 |
3470.911 |
3610.875 |
|
Debt/Equity
ratio |
1.244 |
1.062 |
0.913 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
10882.938 |
12072.564 |
12928.601 |
|
|
|
10.931 |
7.091 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
10882.938 |
12072.564 |
12928.601 |
|
Profit/ (Loss) |
424.073 |
716.286 |
894.096 |
|
|
3.90% |
5.93% |
6.92% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C66060609 |
10556800 |
EXPORT-IMPORT BANK OF INDIA |
20/03/2015 |
24/09/2015 |
- |
150000000.0 |
CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFF PARADEMUMBAIMH400005IN |
|
2 |
B86859485 |
10421285 |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH |
30/03/2013 |
01/10/2013 |
- |
300000000.0 |
TARA CHAMBERS,2ND FLOOR,NEAR MARIAAI POLICE CHOWKYOLD PUNE MUMBAI HIGHWAY, WAKDEWADIPUNEMH411003IN |
|
3 |
C05589239 |
80017484 |
BANK OF MAHARASHTRA |
03/01/1996 |
27/05/2014 |
- |
3250000000.0 |
CORPORATE FINANCE BRANCHYASHOMANGAL", F.C.ROADPUNEMH411005IN |
|
4 |
G61253522 |
10494776 |
STATE BANK OF INDIA |
27/05/2014 |
27/05/2014 |
25/10/2017 |
1100000000.0 |
OFFICE NO. 709 & 710, LEVEL 7, THE GATE PRECINCT,BUILDING 3, DUBAI INTERNATIONAL FINANCE CENTREDUBAINA482033AE |
|
5 |
G61251419 |
100038568 |
SBI DIFC DUBAI |
30/05/2016 |
31/05/2016 |
25/10/2017 |
750000000.0 |
OFFICE NO.709 AND 710 LEVEL 7 ,THE GATE PRECINCTBUILDING -3 DIFC,DUBAI,UAE,P.O.BOX.482033DUBAINA482033AE |
|
6 |
G53923736 |
10412965 |
EXPORT-IMPORT BANK OF INDIA (EXIM BANK) |
18/03/2013 |
01/10/2013 |
18/09/2017 |
55000000.0 |
CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN |
|
7 |
C80456817 |
10254495 |
EXPORT-IMPORT BANK OF INDIA (EXIM BANK) |
15/12/2010 |
- |
24/02/2016 |
360000000.0 |
CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN |
|
8 |
C80677297 |
10254591 |
BANK OF MAHARASHTRA |
15/12/2010 |
- |
17/02/2016 |
350000000.0 |
CORPORATE FINANCE BRANCHYASHOMANGAL,1183/A,F.C.ROADPUNEMH411005IN |
|
9 |
C42064964 |
10127480 |
EXPORT-IMPORT BANK OF INDIA |
18/10/2008 |
06/03/2009 |
21/01/2015 |
150000000.0 |
CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN |
|
10 |
C10080158 |
10388593 |
BANK OF MAHARASHTRA |
27/11/2012 |
26/03/2013 |
04/07/2014 |
420000000.0 |
CORPORATE FINANCE BRANCHYASHOMANGAL,1183/A,F.C.ROADPUNEMH411005IN |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX
MONTHS ENDED 30.09.2017
(INR IN MILLION)
|
Particulars |
Quarter Ended 30.09.2017 |
Quarter Ended 30.06.2017 |
Half Year Ended 30.09.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Income from operations |
|
|
|
|
Revenue from operations |
3518.040 |
3607.750 |
7125.790 |
|
Other operating Income |
37.990 |
93.480 |
131.470 |
|
Total Income from operations (Net) |
3556.030 |
3701.230 |
7257.260 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of Materials Consumed |
1976.680 |
2128.300 |
4104.980 |
|
Purchases of Stock-in-Trade |
72.290 |
148.600 |
220.890 |
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
152.190 |
(370.480) |
(218.290) |
|
Excise Duty |
0.000 |
256.090 |
256.090 |
|
Employee
benefits expense |
213.530 |
217.150 |
430.680 |
|
Finance
costs |
75.730 |
59.500 |
135.230 |
|
Depreciation
and amortisation expense |
142.530 |
141.870 |
284.400 |
|
Other
expenditure |
581.120 |
767.260 |
1348.380 |
|
Total Expenses |
3214.070 |
3348.290 |
6562.360 |
|
|
|
|
|
|
Profit before tax |
341.960 |
352.940 |
694.900 |
|
Tax
expense |
111.280 |
118.930 |
230.210 |
|
profit for the year |
230.680 |
234.010 |
464.690 |
|
Other
comprehensive income |
(4.580) |
(9.210) |
(13.790) |
|
Total comprehensive income |
226.100 |
224.800 |
450.900 |
|
Paid - up Equity Share Capital (Face value of INR 10/- per share) |
138.450 |
138.450 |
138.450 |
|
Earnings Per Share (EPS) |
|
|
|
|
Basic and diluted |
3.33 |
3.38 |
6.71 |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Particulars |
Quarter Ended 30.09.2017 |
Quarter Ended 30.06.2017 |
Half Year Ended 30.09.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
1] Segment Revenue |
|
|
|
|
Pigments |
3073.450 |
3236.830 |
6310.280 |
|
Agro Chemicals |
395.680 |
354.240 |
749.920 |
|
Others |
48.910 |
16.680 |
65.590 |
|
Total |
3518.040 |
3607.750 |
7125.790 |
|
Less: Inter Segment Revenue |
0.000 |
0.000 |
0.000 |
|
Total Income |
3518.040 |
3607.750 |
7125.790 |
|
|
|
|
|
|
2] Segment Results (Profit/ Loss Before Tax
and finance cost from Segment) |
|
|
|
|
Pigments |
494.580 |
472.210 |
966.790 |
|
Agro Chemicals |
29.280 |
25.550 |
54.830 |
|
Others |
5.760 |
(9.690) |
(3.930) |
|
Total |
529.620 |
488.070 |
1017.690 |
|
Less: Finance cost |
75.730 |
59.500 |
135.30 |
|
Other
Un-Allocable Expenditure (Net of Unallocated Income) |
111.930 |
75.630 |
187.560 |
|
Total Profit Before Tax |
341.960 |
352.940 |
694.900 |
|
|
|
|
|
|
3] Capital Employed [Segment Assets- Segment Liabilities] |
|
|
|
|
Pigments |
5993.300 |
5680.590 |
5993.300 |
|
Agro Chemicals |
456.830 |
258.710 |
456.830 |
|
Others |
187.190 |
196.900 |
187.190 |
|
Unallocated |
2355.210 |
2121.890 |
2355.210 |
|
Total Capital Employed |
8992.530 |
8258.090 |
8992.530 |
STATEMENT
OF ASSETS AND LIABILITIES
|
SOURCES OF FUNDS |
30.09.2017 |
|
|
(Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
Equity |
|
|
Share Capital |
138.450 |
|
Other Equity |
4202.740 |
|
Total Equity |
4341.190 |
|
|
|
|
Liabilities
|
|
|
Non-Current
Liabilities |
|
|
Financial
Liabilities |
|
|
Borrowing |
1082.410 |
|
Other Financial Liabilities |
6.070 |
|
Provisions |
131.340 |
|
Differed tax liabilities |
458.280 |
|
Total Non-current Liabilities |
1678.100 |
|
|
|
|
Current Liabilities |
|
|
Financial
Liabilities |
|
|
Borrowing |
2386.360 |
|
Trade payables |
|
|
Micro Enterprises and Small Enterprises |
62.940 |
|
Others than Micro Enterprises and Small Enterprises |
2564.140 |
|
Derivatives |
26.610 |
|
Other current Financial Liabilities |
920.460 |
|
Provisions |
36.790 |
|
Other current liabilities |
93.790 |
|
Total Current
Liabilities |
6091.090 |
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
12110.380 |
|
|
|
|
II.
ASSETS |
|
|
Non-current assets |
|
|
Property, plant and Equipments |
4198.170 |
|
Capital work in progress |
143.560 |
|
Goodwill |
2/8.770 |
|
Other Intangible Assets |
118.870 |
|
Intangible assets Under Development |
6.780 |
|
Investment in Subsidiaries |
586.430 |
|
Financial Assets |
|
|
Investments |
4.820 |
|
Loans |
8.170 |
|
Other Financial Assets |
2.500 |
|
Other non-current assets |
114.040 |
|
Non-Current tax Assets |
75.740 |
|
Total Non-Current
Assets |
5287.850 |
|
|
|
|
Current assets |
|
|
Inventories |
2459.260 |
|
Financial Assets |
0 |
|
Trade
receivables |
3244.550 |
|
Cash and
cash equivalents |
92.330 |
|
Bank
Balance Other than |
68.230 |
|
Loans |
30.000 |
|
Derivatives |
2.610 |
|
Other Financial Assets |
20.440 |
|
Other Current Assets |
905.110 |
|
Sub Total
Current Assets |
6822.530 |
|
|
|
|
TOTAL
ASSETS |
12110.380 |
NOTES:
1. The above Unaudited Financial Results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 08, 2017 and November 09, 2017. These unaudited financial results have been prepared in accordance with the Indian Accounting Standards (“Ind-AS") as specified under Section 133 of the Companies Act. 2013 read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and the provision of the Companies Act, 2013.
2. The Statutory Auditors of the Company have conducted a limited review of the above unaudited standalone financial results of the Company for the quarter and six months ended 30m September, 2017, under Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. An unqualified report has been issued by them thereon.
3. The Company adopted Ind-AS from April 01, 2017 and accordingly the transition was carried out, from the Accounting Principles generally accepted in India as specified under Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 (IGAAP), in accordance with Ind AS 101 - First time adoption of Indian Accounting Standards. Accordingly, the impact on transition has been recorded in opening reserves as at 01 April, 2016 and all periods presented have been restated. The Ind AS compliant financial results, pertaining to quarter and six months ended 30m September. 2016 and year ended 31st March, 2017 have not been subjected to limited review or audit. However, the management has exercised necessary due diligence to ensure that the financial results provide a true and fair view of its affairs.
4. Other operating income for the year ended 3151 March. 2017 includes INR 101.400 million of Export Incentive income related to Merchandise Export Incentive Scheme (MEIS), for the period upto March 31, 2016.
5. In accordance with the requirements of Ind AS. revenue for the quarter ended 30m September. 2017 is net of Goods and Service Tax (GST). However, revenue for the quarter ended 30m June. 2017, quarter and six months ended 30m September, 2016 and year ended March 31, 2017 is inclusive of excise duty. Hence revenue and excise duty on sale of goods for the quarter are not comparable with corresponding figures for previous periods. Comparable revenue, net of excise duty and GST is as follows:
|
Particulars |
Quarter Ended 30.09.2017 |
Quarter Ended 30.06.2016 |
Half Year Ended 30.09.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
Revenue from operations |
3464.840 |
3288.860 |
6753.700 |
6. Previous period's / year's figures have been regrouped / reclassified wherever necessary to conform to the current period's classification / disclosure.
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and Advances
from related parties |
|
|
|
Intercorporate Deposits |
105.185 |
86.570 |
|
Fixed Deposits |
|
|
|
From Public |
0.000 |
3.620 |
|
From Shareholders |
0.000 |
70.130 |
|
Loans and
Advances from Others: |
|
|
|
Intercorporate Deposits |
23.860 |
27.950 |
|
Fixed Deposits |
|
|
|
From Public |
134.185 |
404.720 |
|
From Shareholders |
0.000 |
61.790 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Rupee Loans |
|
|
|
Short-Term Loans |
400.000 |
277.500 |
|
|
|
|
|
Total |
663.230 |
932.280 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against
the company not knowledge as debt : |
|
|
|
Pending
Litigation |
|
|
|
Excise Duty |
28.140 |
27.577 |
|
VAT/ CST |
19.808 |
21.235 |
|
Custom Duty |
32.277 |
32.277 |
|
Income Tax |
17.021 |
37.993 |
OUTLOOK FOR THE
FUTURE:
The global economic climate continues to be volatile uncertain and prone
to geo-political risks. Weak Consumer sentiment and low commodity prices are
expected to affect global growth adversely. For India, 2017-18 will be a key
year for consolidating it recovery and accelerating its growth. Despite
challenging global headwinds, a stable macro performance will help India to
remain an attractive investment destination. However, execution of the reforms
agenda and commencing the investment cycle will be key determinants of India’s
economic performance on a long term basis. While currently inflation is
expected to be volatile, Upside pressures on inflation exist from the vagaries
of monsoon or due to competitive devaluation of currencies. Roll out of Goods
and Services Tax regime from July 2017 is a key needs of the hour to remove cascading
incidence of tax, simplifying tax compliance environment and enhancing ease of
doing business.
The company’s overseas subsidiaries in the Netherlands and North America
are fully geared up and will play a major role in achieving quantum growth in sales
and profitability. The setting up of the China and Mexico Subsidiaries will
also help the company consolidate its position further as a reliable global
player in the Pigments market.
The company aims to closely associate with its customers and increase
operational and technical excellence, while pruning costs. Research and
Development will also play a bigger role in improving the competitiveness
through innovations.
Agro chemicals division is also expected to de well. However, much
depends on the monsoon which has played truant in the past. As per IMD reported
published by the Central Government The Monsson is expected to be moderate.
Barring any unforeseen circumstances, the current years’ prospects look
favorable.
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Building
· Plant and Machinery
· Data Processing Equipment
· Vehicle
· Furniture and Fixture
· Office Equipments
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 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 63.83 |
|
UK Pound |
1 |
INR 86.28 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PUJ |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
RUP |
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 |
YES |
|
--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.