|
|
|
MIRA INFORM REPORT
|
Report No. : |
488861 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
OREN HYDROCARBONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
28/2B, Saravana Street, T. Nagar, Chennai – 600017,
Tamilnadu |
|
Tel. No.: |
91-44-24360205 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
20.07.1990 |
|
|
|
|
Com. Reg. No.: |
18-019419 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 161.217 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100TN1990PTC019419 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
GSTIN/UIN : |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO3649L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Mud Chemicals and Chemical Products (Barites), Starches (Modified Starch),
PAC UL (Carboxymethyl Cellulose
and its Salt). [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 3500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1990 having fine track record. Management has failed to file its financials for FY-2017 with
Registrar of companies. As per available financials of March 2016, the company has achieved
marginal growth in its revenue as compared to its previous year along with
fair profit margin during the year. Rating takes into consideration, the healthy financial risk profile
marked by adequate networth base and comfortable debt protection metrics. Rating continue to derive strength from its long and established track
record of its business operations backed by its well experienced management
team. However, these rating strength is partially offset by highly
competitive nature of the industry with presence of other large players and
unorganized sector marked by profit margins exposed to fluctuations in the
input prices. Payments seems to be regular. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 30.01.2018
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.
LOCATIONS
|
Registered / Corporate Office : |
28/2B, Saravana Street, T. Nagar, Chennai – 600017,
Tamilnadu, India |
|
Tel. No.: |
91-44-24360205 |
|
Fax No.: |
91-44-24347358 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Manufacturing Units : |
Located at: · Naidupet, Andhra Pradesh · Gujarat · Kodur, Andhra Pradesh · Gummidipoondi, Tamilnadu |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rizwan Ahmad |
|
Designation : |
Managing Director |
|
Address : |
28/2b Saravana Street, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Date of Appointment : |
17.01.1996 |
|
DIN No.: |
00652115 |
|
|
|
|
Name : |
Mrs. Sayeeda Ahmad |
|
Designation : |
Director |
|
Address : |
28/2B Saravana Street, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Date of Appointment : |
17.01.1996 |
|
DIN No.: |
00652220 |
|
|
|
|
Name : |
Gajalakshmi Renganathan |
|
Designation : |
Director |
|
Address : |
9 Indira Nagar, Extension Selaiyur, Chennai – 600073, Tamilnadu, India |
|
Date of Birth/Age : |
12.07.1979 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
AKZPG0882B |
|
DIN No.: |
01687545 |
|
|
|
|
Name : |
Mr. Saravanan Balakrishnan |
|
Designation : |
Director |
|
Address : |
12/16, Dr. Subbarayan Nagar 6th Street, Kodambakkam, Chennai – 600024, Tamilnadu, India |
|
Date of Appointment : |
18.02.2011 |
|
DIN No.: |
03445746 |
|
|
|
|
Name : |
Mr. Mahaboob Subhahani |
|
Designation : |
Director |
|
Address : |
47/39, Burma Colony, Pavali Road, Virudhunagar – 626001, Tamilnadu, India |
|
Date of Appointment : |
30.09.2015 |
|
DIN No.: |
03446289 |
|
|
|
|
Name : |
Mr. Faizan Ahmad |
|
Designation : |
Director |
|
Address : |
28/2-B Saravanan Street, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Date of Birth/Age : |
28.07.1990 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
10.06.2013 |
|
PAN No.: |
ACAPF1669E |
|
DIN No.: |
06625648 |
|
|
|
|
Name : |
Mr. Irfan Ahmad |
|
Designation : |
Director |
|
Address : |
No.28/2B, Saravana Street, T Nagar, Chennai – 600017, Tamilnadu, India |
|
Date of Birth/Age : |
24.08.1991 |
|
Date of Appointment : |
04.09.2013 |
|
PAN No.: |
ADSPI2726E |
|
DIN No.: |
06678611 |
|
|
|
|
Name : |
Mr. Syed Sifat Ali |
|
Designation : |
Director |
|
Address : |
88,Sadat,Shahabad Rampur – 244922, Uttar Pradesh, India |
|
Date of Appointment : |
15.10.2015 |
|
DIN No.: |
07316379 |
KEY EXECUTIVES
|
Name : |
Mr. Krishnamoorthy Maheswaran |
|
Designation : |
Company Secretary |
|
Address : |
No.31 Ragavendra Puram, Srirangam, Trichy – 620006, Tamilnadu, India |
|
Date of Appointment : |
08.04.2015 |
|
PAN No.: |
AZBPM3483B |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Rizwan Ahmed |
|
14016255 |
|
Sayeeda Ahmed |
|
3276697 |
|
|
|
|
|
Total |
|
17292952 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Mud Chemicals and Chemical Products (Barites), Starches (Modified Starch),
PAC UL (Carboxymethyl Cellulose
and its Salt). [Registered Activity] |
||||
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|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
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|
||||
|
Agencies Held : |
Not Available |
||||
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Exports : |
Not Available |
||||
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|
||||
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Imports : |
Not Available |
||||
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|
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||||
|
Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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|
||||||||||||||||||||||||
|
Bankers : |
·
IndusInd Bank Limited, 2401 Gen Thimmayya
Road, Cantonment, Pune – 411001, Maharashtra, India ·
RBL Bank Limited, Shahupuri, Kolhapur –
416001, Maharashtra, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Patel Mohan Ramesh and Company Chartered Accountants |
|
Address : |
First Floor, ARK Colony, New No. 35, (Old no. 4), Eldams Road, Alwarpet, Chennai – 600018, Tamilnadu, India |
|
PAN No.: |
AABFP5408N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary
companies : |
· Oren Mud Chemicals Pulverising Private Limited [U24119TN2002PTC048911] · Oren Hydrocarbons Far East SDN BHD · Oren Mud Chemicals Private Limited [U24133TN2008PTC068406] · Oren Hydrocarbons LLC, USA |
|
|
|
|
Associate companies
: |
· Prachi Clay Minerals Private Limited [U13100OR2007PTC009117] · R A Chemicals |
|
|
|
|
Company in which
KMP / Relatives of KMP can exercise significant influence : |
· Oren Hydrocarbons Middle East INC · Oren Hydrocarbons Middle East Free Zone, Egypt · Oren Chemicals Manufacturing Company LLC · Weifang Oren yuan Chemical Co Limited, China · Pace Freight Services Private Limited · United Mud Chemicals Private Limited · Oren Hydrocarbons (Qingdao) Co., Limited, China |
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17292952 |
Equity Shares |
INR 10/- each |
INR 172.930 Million |
|
|
|
|
|
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16121707 |
Equity Shares |
INR 10/- each |
INR 161.217 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
161.217 |
151.860 |
142.860 |
|
(b) Reserves & Surplus |
1026.685 |
830.405 |
682.555 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
29.019 |
22.561 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1216.921 |
1004.826 |
825.415 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
387.661 |
92.030 |
63.137 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
4.992 |
|
(c) Other long term
liabilities |
43.326 |
37.491 |
0.000 |
|
(d) Long-term
provisions |
9.017 |
8.666 |
4.462 |
|
Total Non-current
Liabilities (3) |
440.004 |
138.187 |
72.591 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1690.272 |
1887.075 |
1949.433 |
|
(b) Trade
payables |
835.294 |
674.775 |
419.015 |
|
(c) Other
current liabilities |
263.650 |
41.646 |
48.948 |
|
(d) Short-term
provisions |
138.869 |
81.932 |
99.511 |
|
Total Current
Liabilities (4) |
2928.085 |
2685.428 |
2516.907 |
|
|
|
|
|
|
TOTAL |
4585.010 |
3828.441 |
3414.913 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1046.535 |
815.945 |
616.187 |
|
(ii)
Intangible Assets |
25.698 |
0.474 |
0.019 |
|
(iii)
Capital work-in-progress |
415.735 |
139.228 |
13.509 |
|
(iv)
Intangible assets under development |
0.000 |
31.624 |
0.000 |
|
(b) Non-current Investments |
29.048 |
29.048 |
24.918 |
|
(c) Deferred tax assets (net) |
13.634 |
13.706 |
0.000 |
|
(d)
Long-term Loan and Advances |
26.893 |
22.864 |
68.927 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1557.543 |
1052.889 |
723.560 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1287.780 |
813.414 |
791.325 |
|
(c) Trade
receivables |
1234.169 |
1315.429 |
1307.636 |
|
(d) Cash
and cash equivalents |
189.737 |
150.287 |
108.653 |
|
(e)
Short-term loans and advances |
268.648 |
433.126 |
446.443 |
|
(f) Other
current assets |
47.133 |
63.296 |
37.296 |
|
Total
Current Assets |
3027.467 |
2775.552 |
2691.353 |
|
|
|
|
|
|
TOTAL |
4585.010 |
3828.441 |
3414.913 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4595.700 |
4546.258 |
4426.036 |
|
|
Other Income |
103.614 |
134.042 |
68.888 |
|
|
TOTAL |
4699.314 |
4680.300 |
4494.924 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2609.847 |
2247.828 |
1567.329 |
|
|
Purchases of
Stock-in-Trade |
377.368 |
641.574 |
1221.881 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(235.861) |
71.066 |
(6.275) |
|
|
Employee benefit expense |
284.694 |
247.519 |
201.428 |
|
|
CSR expenditure |
6.043 |
4.950 |
0.000 |
|
|
Other expenses |
1074.867 |
932.987 |
980.680 |
|
|
Exceptional items |
(17.928) |
0.000 |
0.000 |
|
|
TOTAL |
4099.030 |
4145.924 |
3965.043 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
600.284 |
534.376 |
529.881 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
190.285 |
176.260 |
153.909 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
409.999 |
358.116 |
375.972 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
129.354 |
100.161 |
60.752 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
280.645 |
257.955 |
315.220 |
|
|
|
|
|
|
|
Less |
TAX |
98.959 |
91.033 |
110.650 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
181.686 |
166.922 |
204.570 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
4166.299 |
3879.240 |
3822.192 |
|
|
TOTAL EARNINGS |
4166.299 |
3879.240 |
3822.192 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
652.629 |
944.039 |
957.348 |
|
|
TOTAL IMPORTS |
652.629 |
944.039 |
957.348 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
11.84 |
11.65 |
14.32 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
138.407 |
16.666 |
38.590 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
422.302 |
483.631 |
185.063 |
|
Net cash flows from (used in) operating activities |
391.441 |
412.954 |
133.784 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
98.02 |
105.61 |
107.84 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.72 |
3.46 |
3.38 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
102.06 |
85.24 |
54.83 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.47 |
0.66 |
0.67 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.40 |
0.54 |
0.84 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.75 |
0.73 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.82 |
1.99 |
2.49 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.41 |
2.67 |
3.05 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.22 |
0.98 |
0.76 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.15 |
3.03 |
3.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
3.95 |
3.67 |
4.62 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.96 |
4.36 |
5.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
14.93 |
16.61 |
24.78 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.03 |
1.03 |
1.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.59 |
0.73 |
0.75 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.27 |
0.26 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
13.75 |
13.14 |
14.36 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.03 |
1.03 |
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 |
142.860 |
151.860 |
161.217 |
|
Reserves & Surplus |
682.555 |
830.405 |
1026.685 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
22.561 |
29.019 |
|
Net
worth |
825.415 |
1004.826 |
1216.921 |
|
|
|
|
|
|
Long-term borrowings |
63.137 |
92.030 |
387.661 |
|
Short term borrowings |
1949.433 |
1887.075 |
1690.272 |
|
Current maturities of
long-term debts |
38.590 |
16.666 |
138.407 |
|
Total
borrowings |
2051.160 |
1995.771 |
2216.340 |
|
Debt/Equity
ratio |
2.485 |
1.986 |
1.821 |
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 |
4426.036 |
4546.258 |
4595.700 |
|
|
|
2.716 |
1.088 |
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 |
4426.036 |
4546.258 |
4595.700 |
|
Profit/ (Loss) |
204.570 |
166.922 |
181.686 |
|
|
4.62
% |
3.67
% |
3.95
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
161.217 |
151.860 |
|
(b) Reserves and Surplus |
|
989.927 |
843.972 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
9.952 |
9.803 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
29.019 |
22.561 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1180.163 |
1018.393 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
387.661 |
92.029 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
43.326 |
0.000 |
|
(d) long-term
provisions |
|
9.594 |
8.666 |
|
Total Non-current
Liabilities (3) |
|
440.581 |
100.695 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
1697.655 |
1888.293 |
|
(b) Trade
payables |
|
867.016 |
699.595 |
|
(c) Other
current liabilities |
|
283.134 |
77.700 |
|
(d) Short-term
provisions |
|
141.939 |
89.678 |
|
Total Current
Liabilities (4) |
|
2989.744 |
2755.266 |
|
|
|
|
|
|
TOTAL |
|
4620.440 |
3884.157 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1060.022 |
831.621 |
|
(ii)
Intangible Assets |
|
33.538 |
8.380 |
|
(iii) Tangible assets
capital work-in-progress |
|
415.735 |
170.852 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.032 |
13.217 |
|
(c) Deferred tax assets (net) |
|
14.011 |
13.737 |
|
(d)
Long-term
loans and advances |
|
45.529 |
48.541 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1568.867 |
1086.348 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1393.598 |
836.803 |
|
(c) Trade receivables |
|
1201.682 |
1320.829 |
|
(d) Cash and bank
balances |
|
200.505 |
153.296 |
|
(e)
Short-term loans and advances |
|
208.655 |
423.563 |
|
(f) Other
current assets |
|
47.133 |
63.318 |
|
Total
Current Assets |
|
3051.573 |
2797.809 |
|
|
|
|
|
|
TOTAL |
|
4620.440 |
3884.157 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
4673.862 |
4599.470 |
|
|
Other Income |
|
107.401 |
136.069 |
|
|
TOTAL |
|
4781.263 |
4735.539 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
2609.704 |
2255.934 |
|
|
Purchases of
Stock-in-Trade |
|
407.128 |
641.574 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(233.062) |
71.066 |
|
|
Employee benefit expense |
|
314.219 |
257.860 |
|
|
CSR expenditure |
|
6.043 |
4.950 |
|
|
Other expenses |
|
1099.294 |
947.839 |
|
|
Exceptional items |
|
(17.928) |
0.000 |
|
|
TOTAL |
|
4185.398 |
4179.223 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
595.865 |
556.316 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
190.513 |
176.286 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
405.352 |
380.030 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
132.163 |
103.360 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
273.189 |
276.670 |
|
|
|
|
|
|
|
Less |
TAX |
|
99.523 |
97.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
173.666 |
178.970 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
11.32 |
12.15 |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
CORPORATE INFORMATION
The company was incorporated in July 1990, with the objective of catering to the requirements of High Quality Specialized Drilling Chemicals including Mud Chemicals used in Oil and Gas Exploration. OREN is a leading Manufacturer and Supplier of drilling fluids to the Global hydrocarbon exploration and production industry. Currently the company is focusing on meeting the needs of multinationals, operating in the Oil Fields in various parts of the world.
Brief Description of the Company’s working during
the year / state of Company’s affair
The global
business scenario particularly in the sector they operate (Oil and Gas)
continued to be none to satisfactory during the year 2015-16.
Though not
directly impacting, the falling crude oil prices were a factor in their not
being able to reach the revenue goal they set for their selves. They may record
here that the crude prices started falling below $100 per barrel in the later
half of 2014 and continued to slide till the end of 2015. It touched the low of
about $30 per barrel in early 2016. So the year was a period of continued
slowdown in the industry.
In spite of the
above fact, the company with enormous efforts and a strategy of expanding
market reach and share during the year could slightly surpass the revenue level
of the previous year. For the year ended 31st March 2016, the company has
registered a turnover of INR 4595.700 million as against the revenue of INR
4546.258 million in the previous year.
Due to the general
adverse condition in this sector and the general market perception the company
did not venture into attracting investments from institutions as originally
thought of. However during the year the promoters have brought in additional
capital funds of INR 58.939 million. In this year the two new projects at
Attivaram near Naidupet in Andhra Pradesh, Getnamallee near Gummidipoondi in
Tamilnadu have reached final stages of completion and will be going in for
commercial production in the coming year. They are successful in getting a good
market response for the products of these two units.
Looking to the future business in Bentonite, they have acquired certain
land with Bentonite deposits and Quarry lease in Bhuj, Gujarat.
It is heartening
to note that during April 2016 the crude prices have recovered to the level of
$40 per barrel and as on date trading in the range of $50 per barrel. They are
looking forward to improvement in the market conditions which will benefit
their business.
During this year,
their subsidiary company in Houston, USA could establish a good level of
rapport with the customers in USA and Canada. For one of their products “Water
Based Well Bore Servicing Fluid with High Temperature Fluid Loss Control
Additive”, they have got the international application published under the
Patent Cooperation Treaty. This will help enhance their market share in the
said product.
To summarize, they
should say that they have performed well during the year of constraints and
strain, when they look at the position of the similar companies globally.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
1.083 |
42.948 |
|
|
|
|
|
Total |
1.083 |
42.948 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G27727809 |
100062920 |
INDUSIND BANK LIMITED |
22/11/2016 |
- |
- |
300000000.0 |
2401 GEN THIMMAYYA ROAD CONTONMENT PUNE MA 411001IN |
|
2 |
G07710478 |
100039235 |
TATA CAPITAL HOUSING FINANCE LIMITED |
20/01/2016 |
- |
- |
7100000.0 |
ONE FORBES, DR. V.B. GANDHI MARG, FORT MUMBAI MH400001IN |
|
3 |
G39557806 |
10610805 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
17/12/2015 |
11/01/2017 |
- |
240000000.0 |
ONE FORBES,DR. V. B. GANDHI MARG, FORT MUMBAI MH400001IN |
|
4 |
G37976347 |
10564455 |
STANDARD CHARTERED BANK |
02/04/2015 |
27/02/2017 |
- |
370000000.0 |
19, RAJAJI SALAICHENNAITN600001IN |
|
5 |
G07994023 |
10536782 |
RBL BANK LIMITED |
05/12/2014 |
07/04/2016 |
- |
400000000.0 |
SHAHUPURI,KOLHAPUR, KOLHAPUR MA416001IN |
|
6 |
C60222775 |
10535996 |
IDBI BANK LIMITED |
08/10/2014 |
20/07/2015 |
- |
350000000.0 |
SPECIALIZED CORPORATE BRANCHNO.7 CHEVALIAR SIVAJI GANESAN SALAI, T.NAGAR CHENNAI TN600017IN |
|
7 |
G28282515 |
10531533 |
TATA CAPITAL HOUSING FINANCE LIMITED |
24/07/2014 |
31/10/2016 |
- |
37000000.0 |
ONE FORBESDR V B GANDHI MARG, FORT MUMBAI MH400001IN |
|
8 |
C00047316 |
10435249 |
ICICI BANK LIMITED |
02/07/2013 |
31/01/2014 |
- |
304500000.0 |
LANDMARKRACE COURCE CIRCLE ALKAPURIBARODA GJ390015IN |
|
9 |
B98725054 |
10435248 |
ICICI BANK LIMITED |
02/07/2013 |
31/01/2014 |
- |
90000000.0 |
LANDMARKRACE COURCE CIRCLE ALKAPURIBARODA GJ390015IN |
|
10 |
G08180408 |
10439247 |
IDBI BANK LIMITED |
28/06/2013 |
07/04/2016 |
- |
350000000.0 |
SPECIALIZED CORPORATE BRANCH 7,CHEVALIAR SIVAJI GANESAN SALAI, T.NAGAR CHENNAI TN600017IN |
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 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 63.55 |
|
|
1 |
INR 89.82 |
|
Euro |
1 |
INR 78.87 |
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.