|
|
|
MIRA INFORM REPORT
|
Report No. : |
512535 |
|
Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
FINE ORGANIC INDUSTRIES LIMITED [w.e.f. 02.11.2017] |
|
|
|
|
Formerly Known
As : |
FINE ORGANIC INDUSTRIES PRIVATE LIMITED (w.e.f. 16.02.2009) FINE ORGANIC INDUSTRIES (MUMBAI) PRIVATE LIMITED |
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|
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Registered
Office : |
Fine House, Anandji Street, Off M G Road, Ghatkoper (East), Mumbai – 400077, Maharashtra |
|
Tel. No.: |
91-22-21025000 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
24.05.2002 |
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Com. Reg. No.: |
11-136003 |
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Capital
Investment / Paid-up Capital : |
INR 48.300 Million |
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|
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CIN No.: [Company Identification
No.] |
U24119MH2002PLC136003 |
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|
|
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN/CST No.: |
27560379589 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACF7911Q1Z6 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACF7911Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
175 (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 |
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Maximum Credit Limit : |
USD 8860000 |
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|
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2002. It is a manufacturer of organic and inorganic chemical compounds. For the financial year ended 2017, the company has achieved a decent growth of 22.33% in its revenue as compared to the previous year’s revenue and it has earned fair profitability margin of 10.11%. Rating takes into consideration the company’s favourable Earning Per Share (EPS) of INR 155.57 as against its Face Value (FV) of INR 10. The sound financial position of the company is marked by above average net worth base along with negligible debt balance sheet profile and satisfactory liquidity position. As per the current press release, the company is filing for IPO. The initial public offer (IPO) will see sale of up to 7664994 equity shares by the existing shareholders, according to the draft prospectus filed with Securities and Exchange Board of India (SEBI). Business is active. Payments are reported to be regular and as per commitment. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
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
31-03-2018.
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 01.06.2018.
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 PARTED BY
|
Name : |
Ms. Pooja Dattatray Gaonkar |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-21025000 |
|
Date : |
31.05.2018 |
LOCATIONS
|
Registered Office / Head Office/Factory : |
Fine House, Anandji Street, Off M G Road, Ghatkoper
(East), Mumbai – 400077, Maharashtra, India |
|
Tel. No.: |
91-22-21025000 |
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Fax No.: |
91-22-21028899, 20126666 |
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E-Mail : |
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|
Website : |
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Location: |
Owned |
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Locality: |
Commercial |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Mukesh Maganlal Shah |
|
Designation : |
Director |
|
Address : |
2501, Evita CHS Limited, Central Avenue Road, Hiranandani Gardens,
Powai Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1955 |
|
Qualification: |
Bachelor of Science |
|
Date of Appointment : |
24.05.2002 |
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PAN No.: |
AAFPS2267Q |
|
DIN No.: |
00106799 |
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|
|
|
Name : |
Mr. Jayen Ramesh Shah |
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Designation : |
Whole time Director |
|
Address : |
1002, Indraprastha Neelkanth Valley, Rajawadi, Ghatkopar (East),
Mumbai-400077, Maharashtra, India |
|
Date of Birth/Age : |
06.08.1963 |
|
Qualification: |
Master of Science |
|
Date of Appointment : |
24.05.2002 |
|
PAN No.: |
AAFPS5313P |
|
DIN No.: |
00106919 |
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|
|
|
Name : |
Mr. Prakash Damodar Kamat |
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Designation : |
Whole time Director |
|
Address : |
Neelkanth Tirth Co-Operative HSG Society, Bungalow No 3, Road No 6,
Chembur, Mumbai-400071, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1944 |
|
Qualification: |
Master of Science in Technology |
|
Date of Appointment : |
24.05.2002 |
|
PAN No.: |
AABPK9276D |
|
DIN No.: |
00107015 |
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|
|
|
Name : |
Mr. Tushar Ramesh Shah |
|
Designation : |
Whole time Director |
|
Address : |
1104, Indraprastha Neelkanth Valley Rajawadi Ghatkopar (East),
Mumbai-400077, Maharashtra, India |
|
Date of Birth/Age : |
18.03.1968 |
|
Qualification: |
Bachelor of Science |
|
Date of Appointment : |
06.11.2017 |
|
PAN No.: |
ABEPS5056P |
|
DIN No.: |
00107144 |
|
|
|
|
Name : |
Mr. Bimal Mukesh Shah |
|
Designation : |
Director |
|
Address : |
2401, Evita CHS Limited, Central Avenue Road, Hiranandani Gardens,
Powai, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
17.01.1981 |
|
Qualification: |
Masters in Business Administration |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AMDPS4193H |
|
DIN No.: |
03424880 |
|
|
|
|
Name : |
Parthasarathi Thiruvengadam |
|
Designation : |
Director |
|
Address : |
Flat No. 201, Yadugiri Nest, Malleswaram Bangalore
60, 11th M N Road, Cluny Convent, Bangalore – 560003, Karnataka, India |
|
Date of Appointment : |
13.11.2017 |
|
DIN No.: |
00016375 |
|
|
|
|
Name : |
Mahesh Pansukhlal Sarda |
|
Designation : |
Director |
|
Address : |
102, Riddhi Siddhi Apartment, Opposite Axis
Bank, Park Colony Jamnagar – 361008, Gujarat, India |
|
Date of Appointment : |
13.11.2017 |
|
DIN No.: |
00023776 |
|
|
|
|
Name : |
Kaushik Dwarkadas Shah |
|
Designation : |
Director |
|
Address : |
A-502, Gagandeep Gulmohar Cross Road No. 6
JVPD Scheme Juhu, Mumbai 400049, Maharashtra, India |
|
Date of Appointment : |
24.01.2018 |
|
DIN No.: |
00124756 |
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|
|
|
Name : |
Prakash Krishnaji Apte |
|
Designation : |
Director |
|
Address : |
Flat No. 803, Wing - B, Blossom Boule Vard
Koregaon Park, Pune -411001, Maharashtra, India |
|
Date of Appointment : |
13.11.2017 |
|
DIN No.: |
00196106 |
|
|
|
|
Name : |
Pratima Madhukar Umarji |
|
Designation : |
Director |
|
Address : |
B 702, Patliputra, 4 Bunglows, Next To
Kokilaben Hospital, Andheri West Mumbai - 400053, Maharashtra, Indiac |
|
Date of Appointment : |
13.11.2017 |
|
DIN No.: |
05294496 |
KEY EXECUTIVES
|
Name : |
Ms. Pooja Dattatray Gaonkar |
|
Designation : |
Company Secretary |
|
Address : |
B-11, Akruti Apartment, Mhatre Nagar, Rajaji Path, Dombivli (East), Mumbai 421201, Maharashtra, India |
|
Date of Birth/Age : |
24.12.1986 |
|
Qualification: |
Company Secretary |
|
Date of Appointment : |
01.12.2015 |
|
PAN No.: |
ARXPG3218Q |
|
|
|
|
Name : |
Jayen Ramesh Shah |
|
Designation : |
Chief Executive Officer |
|
Address : |
1002, Indraprastha Neelkanth Valley Rajawadi Ghatkopar East Mumbai - 400077, Maharashtra, India |
|
Date of Appointment : |
06.11.2017 |
|
PAN No.: |
AAFPS5313P |
|
|
|
|
Name : |
Tushar Ramesh Shah |
|
Designation : |
Chief finance officer |
|
Address : |
1104, Indraprastha Neelkanth Valley Rajawadi, Ghatkopar East Mumbai - 400077, Maharashtra, India |
|
Date of Appointment : |
06.11.2017 |
|
PAN No.: |
ABEPS5056P |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Maganlal Shah Jointly With Jayshree Mukesh Shah |
|
403945 |
|
Prakash Damodar Kamat |
|
941355 |
|
Jayen Ramesh Shah Jointly With Neeta Jayen Shah |
|
808455 |
|
Tushar Ramesh Shah Jointly With Bina Tushar Shah |
|
860715 |
|
Rhea Tushar Shah Jointly With Tushar Ramesh Shah |
|
17000 |
|
Bina Tushar Shah Jointly With Tushar Ramesh Shah |
|
52300 |
|
Jyotsna Ramesh Shah |
|
922489 |
|
Neeta Jayen Shah Jointly With Jayen Ramesh Shah |
|
80600 |
|
Shaili Nirav Doshi Jointly With Jayen Ramesh Shah |
|
12000 |
|
Jayshree Mukesh Shah Jointly With Mukesh Maganlal Shah |
|
80600 |
|
Bimal Mukesh Shah Joinly With Mukesh Maganlal Shah |
|
456244 |
|
Mukesh Maganlal Shah - HUF |
|
23211 |
|
Prakash Damodar Kamat - HUF |
|
22645 |
|
Manali J. Shah Jointly With Jayen Ramesh Shah |
|
12000 |
|
Tushar Ramesh Shah - HUF |
|
16985 |
|
Esha Tushar Shah Jointly With Tushar Ramesh Shah |
|
17000 |
|
Jayen.R.Shah - HUF |
|
50945 |
|
R.M.Shah - HUF |
|
51507 |
|
Total |
|
4829996 |
AS ON 10.07.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
99.75155259 |
|
Promoters – [Individual/Hindu Undivided Family – Non-resident Indian (NRI)] |
0.24844741 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Advance Payment, Cheque and Credit (60 / 90 Days) |
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Purchasing : |
L/C, Advance Payment, Cheque and Credit (60 / 90 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
175 (Approximately) |
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Bankers : |
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Facilities : |
|
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Auditors : |
|
|
Name : |
B Y and Associates Chartered Accountants |
|
Address : |
510-513, Apeejay House, 130, Mumbai Samachar Marg, Fort, Mumbai – 400023, Maharashtra, India |
|
PAN No.: |
AAFFB0462N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
Subsidiaries: |
|
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|
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Joint Venture: |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key Management
personnel and their relatives: |
|
|
|
|
|
Other Related
Parties : |
· Tushar R. Shah-HUF · Ramesh M. Shah-HUF · Prakash D. Kamat-HUF · Mukesh M. Shah-HUF · Jayen R. Shah-HUF |
CAPITAL STRUCTURE
AFTER 10.07.2017
Authorised Capital : INR 200.000 Million
Issued, Subscribed & Paid-up Capital : INR 153.300
Million
AS ON 10.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5200000 |
Equity Shares |
INR 10/- each |
INR 52.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4829996 |
Equity Shares |
INR 10/- each |
INR 48.300 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
48.300 |
48.300 |
48.300 |
|
(b) Reserves &
Surplus |
3051.972 |
2403.431 |
1915.264 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
2.800 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
3103.072 |
2451.731 |
1963.564 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
40.623 |
469.645 |
553.137 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
40.623 |
469.645 |
553.137 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
362.001 |
430.272 |
393.312 |
|
(b) Trade payables |
677.887 |
521.381 |
531.990 |
|
(c) Other current
liabilities |
116.055 |
159.149 |
159.822 |
|
(d) Short-term provisions |
276.762 |
16.324 |
164.584 |
|
Total Current Liabilities
(4) |
1432.705 |
1127.126 |
1249.708 |
|
|
|
|
|
|
TOTAL |
4576.400 |
4048.502 |
3766.409 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1186.297 |
1202.105 |
1236.543 |
|
(ii) Intangible Assets |
2.100 |
0.736 |
0.000 |
|
(iii) Capital
work-in-progress |
27.974 |
56.499 |
81.117 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
114.353 |
54.328 |
0.063 |
|
(c) Deferred tax assets
(net) |
48.084 |
27.369 |
5.384 |
|
(d) Long-term Loan and Advances |
380.190 |
337.926 |
340.779 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1758.998 |
1678.963 |
1663.886 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
884.584 |
720.912 |
622.740 |
|
(c) Trade receivables |
1227.357 |
946.255 |
936.099 |
|
(d) Cash and cash
equivalents |
142.257 |
283.866 |
17.115 |
|
(e) Short-term loans and
advances |
563.204 |
418.506 |
526.569 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
2817.402 |
2369.539 |
2102.523 |
|
|
|
|
|
|
TOTAL |
4576.400 |
4048.502 |
3766.409 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
7862.911 |
6427.845 |
6162.466 |
|
|
Other Income |
29.331 |
81.766 |
14.307 |
|
|
TOTAL |
7892.242 |
6509.611 |
6176.773 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5027.574 |
3782.462 |
3866.888 |
|
|
Purchases of
Stock-in-Trade |
2.214 |
22.026 |
18.897 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(47.913) |
(36.506) |
(47.112) |
|
|
Employees benefits
expense |
623.028 |
489.356 |
430.758 |
|
|
CSR Expenditure |
13.100 |
9.500 |
6.500 |
|
|
Other expenses |
775.276 |
732.746 |
732.273 |
|
|
TOTAL |
6393.279 |
4999.584 |
5008.204 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1498.963 |
1510.027 |
1168.569 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
34.873 |
71.792 |
69.388 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1464.090 |
1438.235 |
1099.181 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
239.633 |
292.698 |
226.438 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1224.457 |
1145.537 |
872.743 |
|
|
|
|
|
|
|
Less |
TAX |
429.516 |
395.773 |
284.274 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
794.941 |
749.764 |
588.469 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
7862.551 |
3633.196 |
3720.386 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
155.57 |
155.23 |
121.84 |
|
|
Diluted |
155.57 |
155.23 |
121.84 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
7860.000 |
The above information has been parted by Ms. Pooja Dattatray
Gaonkar (Company Secretary)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
80.040 |
80.040 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
974.674 |
1538.014 |
1049.702 |
|
Net cash flows from (used in) operating activities |
517.888 |
1112.737 |
747.427 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
56.97 |
53.73 |
55.44 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
6.41 |
6.79 |
6.58 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
49.19 |
50.02 |
49.97 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.69 |
2.09 |
1.88 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.23 |
1.20 |
0.89 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.32 |
0.41 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.13 |
0.40 |
0.52 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.46 |
0.46 |
0.64 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.39 |
0.51 |
0.67 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
42.98 |
21.03 |
16.84 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
10.11 |
11.66 |
9.55 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
17.37 |
18.52 |
15.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
25.62 |
30.58 |
29.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.97 |
2.10 |
1.68 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.35 |
1.46 |
1.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.68 |
0.61 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
8.34 |
20.29 |
21.25 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.97 |
2.10 |
1.68 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
48.300 |
48.300 |
48.300 |
|
Reserves & Surplus |
1915.264 |
2403.431 |
3051.972 |
|
Share Application money pending allotment |
0.000 |
0.000 |
2.800 |
|
Net
worth |
1963.564 |
2451.731 |
3103.072 |
|
|
|
|
|
|
Long Term borrowings |
553.137 |
469.645 |
40.623 |
|
Short Term borrowings |
393.312 |
430.272 |
362.001 |
|
Current Maturities of Long term debt |
80.040 |
80.040 |
0.000 |
|
Total
borrowings |
1026.489 |
979.957 |
402.624 |
|
Debt/Equity
ratio |
0.523 |
0.400 |
0.130 |
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
|
6162.466 |
6427.845 |
7862.911 |
|
|
|
4.306 |
22.326 |
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
|
6162.466 |
6427.845 |
7862.911 |
|
Profit |
588.469 |
749.764 |
794.941 |
|
|
9.55% |
11.66% |
10.11% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
48.300 |
48.300 |
|
(b) Reserves &
Surplus |
|
2990.946 |
2362.673 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
2.800 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
3042.046 |
2410.973 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
40.623 |
469.645 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
40.623 |
469.645 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
362.001 |
430.272 |
|
(b) Trade payables |
|
644.976 |
520.054 |
|
(c) Other current
liabilities |
|
119.447 |
159.449 |
|
(d) Short-term provisions |
|
276.762 |
19.254 |
|
Total Current Liabilities
(4) |
|
1403.186 |
1129.029 |
|
|
|
|
|
|
TOTAL |
|
4485.855 |
4009.647 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1222.004 |
1202.150 |
|
(ii) Intangible Assets |
|
2.126 |
0.799 |
|
(iii) Capital
work-in-progress |
|
37.458 |
56.499 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.025 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
48.379 |
27.569 |
|
(d) Long-term Loan and Advances |
|
337.155 |
344.428 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
1647.147 |
1631.445 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
924.338 |
745.764 |
|
(c) Trade receivables |
|
1131.645 |
878.330 |
|
(d) Cash and cash
equivalents |
|
215.246 |
332.705 |
|
(e) Short-term loans and
advances |
|
567.479 |
421.403 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
2838.708 |
2378.202 |
|
|
|
|
|
|
TOTAL |
|
4485.855 |
4009.647 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
7896.511 |
6440.291 |
|
|
Other Income |
|
30.109 |
84.606 |
|
|
TOTAL |
|
7926.620 |
6524.897 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
5027.574 |
3782.462 |
|
|
Purchases of
Stock-in-Trade |
|
27.481 |
24.951 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(64.131) |
(39.736) |
|
|
Employees benefits
expense |
|
649.162 |
502.408 |
|
|
CSR Expenditure |
|
13.100 |
9.500 |
|
|
Other expenses |
|
790.153 |
743.095 |
|
|
TOTAL |
|
6443.339 |
5022.680 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
1483.281 |
1502.217 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
36.610 |
71.893 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
1446.671 |
1430.324 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
240.309 |
292.730 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
1206.362 |
1137.594 |
|
|
|
|
|
|
|
Less |
TAX |
|
429.422 |
395.572 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
776.940 |
742.022 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
152.04 |
153.63 |
|
|
Diluted |
|
152.04 |
153.63 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 four 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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
Yes |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION:
Subject is a private limited company incorporated under the provisions of the Companies Act, 1956. The registered office of the company is situated in the state of Maharashtra. The company carries on business, in India and abroad, as manufacturers, processors, suppliers, distributors, dealers, importers, exporters of flavours, perfumes and flavouring chemicals, oil and colours, surface active agents, emulsifiers, preservatives, clouding agents, textile auxiliaries, lubricants, oleo chemicals and their derivatives, fatty acids and their derivatives, salt and esters. It also develops, processes, manufactures, deals in and carries on business in India and abroad in fine and heavy chemicals, oils, fats, dyes, dyestuffs, dye retardants, dye assistants, organic and inorganic chemicals.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
40.623 |
226.968 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
262.125 |
5.194 |
|
Total |
302.748 |
232.162 |
INDEX OF CHARGE:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B97344089 |
10479960 |
UNION BANK OF INDIA |
30/12/2013 |
- |
- |
32500000.0 |
GHATKOPAR (EAST) BRANCH, SILVER COURT, 1ST FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI MAHARASHTRA 400077 INDIA |
|
2 |
C53521092 |
10398847 |
Citi Bank N.A. |
10/01/2013 |
28/04/2015 |
- |
400000000.0 |
FIRST INTERNATIONAL FINANCIAL CENTRE (FIFC) PLOT NO. C-54 & 55, G-BLOCK, BKC, BANDRA (E) MUMBAI MAHARASHTRA 400051 INDIA |
|
3 |
C50181718 |
10019854 |
UNION BANK OF INDIA |
11/08/2006 |
13/02/2015 |
- |
30000000.0 |
GHATKOPAR (EAST) BRANCH, SILVER COURT, 1ST FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI MAHARASHTRA 400077 INDIA |
|
4 |
C50176544 |
10010471 |
UNION BANK OF INDIA |
17/07/2006 |
13/02/2015 |
- |
20000000.0 |
GHATKOPAR (EAST) BRANCH, SILVER COURT, 1ST FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI MAHARASHTRA 400077 INDIA |
|
5 |
C50181189 |
80007665 |
UNION BANK OF INDIA |
02/03/2006 |
13/02/2015 |
- |
250000000.0 |
GHATKOPAR (EAST) BRANCH, SILVER COURT, 1ST FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI MAHARASHTRA 400077 INDIA |
|
6 |
G11728920 |
10479951 |
UNION BANK OF INDIA |
30/12/2013 |
- |
09/09/2016 |
300000000.0 |
GHATKOPAR (EAST) BRANCH, SILVER COURT, 1ST FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI MAHARASHTRA 400077 INDIA |
|
7 |
G11729225 |
10314788 |
UNION BANK OF INDIA |
05/10/2011 |
13/02/2015 |
09/09/2016 |
108600000.0 |
GHATKOPAR (EAST) BRANCH, SILVER COURT, 1ST FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI MAHARASHTRA 400077 INDIA |
|
8 |
C51268803 |
10103811 |
UNION BANK OF INDIA |
29/06/2007 |
27/07/2007 |
31/03/2015 |
225000000.0 |
GHATKOPAR (E) BRANCH, SILVER COURT, 1ST FLOOR,M. G. ROAD, GHATKOPAR (EAST),MUMBAIMH400077IN |
|
9 |
C51270445 |
10192997 |
UNION BANK OF INDIA |
03/11/2009 |
- |
31/03/2015 |
130500000.0 |
GHATKOPAR (EAST) BRANCH, SILVER COURT, 1ST FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI MAHARASHTRA 400077 INDIA |
|
10 |
C51271807 |
90146807 |
UNION BANK OF INDIA |
15/12/2004 |
28/12/2004 |
31/03/2015 |
1500000.0 |
GHATKOPAR (EAST) BRANCH, SILVER COURT, 1ST FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI MAHARASHTRA 400077 INDIA |
FIXED ASSETS:
Tangible Assets
- Land
- Building
- Furniture and Fixture
- Computer
- Plant and Equipment
- Factory equipment’s
- Motor vehicles
- Computer equipment’s
- Office equipment
WEBSITE
NEWS/ PRESS
RELEASE
FINE ORGANIC, DEVI SEAFOODS GET SEBI NOD FOR IPO
Date: 14.05.2018
Fine Organic and Devi Seafoods had filed their IPO papers in February and March, respectively, and both firms obtained Sebi's "observations" on May 11, latest update with markets regulator showed.
Sebi's observations is necessary for any company planning to launch public
issues like initial public offer, follow-on public offer and rights
issue.
With this, the total number of companies receiving Sebi's (Securities and
Exchange Board of India) approval has reached 18 so far this year
Going by the draft papers, Fine Organic's IPO will see sale
of up to 7664994 equity shares by the existing shareholders.
Established in 1970, the Mumbai-based firm is a leading producer of speciality
additives for foods, plastics, rubbers, paints, inks, cosmetics, coatings,
textile auxiliaries, lubes and several other speciality applications
Devi Seafoods' IPO will see sale of shares by the company's promoters P Brahmanandam, P Suryavathi, P Rama Devi and N Naveena, preliminary papers filed with Sebi showed.
The public offer is expected to fetch INR 9000.000 million, according to
merchant banking sources.
Axis Capital, ICICI Securities and Kotak Mahindra Capital Company will manage
the company's public issue.
According to the companies, the listing of equity shares will enhance their
stability as well as brand image and provide liquidity to their existing
shareholders.
FINE ORGANIC
INDUSTRIES FILES IPO PAPERS WITH SEBI
Date:09.02.2018
Established in 1970, the Mumbai-based firm is a leading producer of speciality additives for foods, plastics, rubbers, paints, inks, cosmetics, coatings, textile auxiliaries, lubes and several other speciality applications.
Fine Organic Industries filed draft papers with markets regulator SEBI to float an initial public offering. Established in 1970, the Mumbai-based firm is a leading producer of speciality additives for foods, plastics, rubbers, paints, inks, cosmetics, coatings, textile auxiliaries, lubes and several other speciality applications.
The initial public offer (IPO) will see sale of up to 7664994 equity shares by the existing shareholders, according to the draft prospectus filed with Securities and Exchange Board of India (SEBI).
The company said that listing will enhance its brand name and provide liquidity to the existing shareholders.
"The objects of the offer are to achieve the benefits of listing equity shares on the stock exchanges...The listing will also provide a public market for equity shares in India," it added.
JM Financial and Edelweiss Financial Service will manage the company's public issue. The equity shares are proposed to be listed on BSE and NSE.
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 67.52 |
|
|
1 |
INR 91.48 |
|
Euro |
1 |
INR 80.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
RUB |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
YES |
|
--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.