|
|
|
MIRA INFORM REPORT
|
Report No. : |
512258 |
|
Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
RASHTRIYA CHEMICALS AND FERTILIZERS LIMITED |
|
|
|
|
Registered
Office : |
Priyadashani, Eastern Express Highway, Sion, Mumbai - 400
022, Maharashtra |
|
Tel. No.: |
91-22-24045024 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2018 |
|
|
|
|
Date of
Incorporation : |
06.03.1978 |
|
|
|
|
Com. Reg. No.: |
11-020185 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 5516.900 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110MH1978GOI020185 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0388064293 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2831H |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in the Manufacturing and Marketing of
Fertilizers and Industrial Chemicals. [Registered Activity] |
|
|
|
|
No. of Employees : [AS ON: 31.03.2017] |
3530 (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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1978 and it is engaged in manufacturing of fertilizers and industrial products. As per financials of March 2018, the company has registered marginal growth in its revenue and has reported average profit margin. Rating takes into consideration the company’s long established track record of business operations marked by healthy net worth base along with strong debt coverage indicators and good liquidity position. Rating also takes into account the established position in the fertilizer industry and diversified revenue profile. Share are quoted fairly high on Stock Exchanges. (Shares are traded at a price of INR 75.25 against its face value of INR 10.) However, ratings strength is partially offset by cyclicality in the industrial products business and exposure to risks related to the regulated nature of fertilizer industry. Payments seems to be regular. In view of aforesaid, the company can be considered good 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 (30.09.2017) |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
26.03.2018 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE [91-22-24045024]
LOCATIONS
|
Registered Office : |
Priyadashani, Eastern Express Highway, Sion, Mumbai - 400
022, Maharashtra, India |
|
Tel. No.: |
91-22-24045024 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Offices: |
Located at: · Mumbai · Thal |
|
|
|
|
Branch Offices: |
Located at: · Ahmednagar · Ahmedabad · Amravati · Aurangabad · Bangalore · Bhopal · Chandigarh · Chennai · Delhi · Hasan · Hubli · Hyderabad · Jaipur · Khammam · Kolkata · Kolhapur · Kuddapa · Lucknow · Nagpur · Nashik · Nizamabad · Patna · Pune · Raipur · Rajpur · Vijaywada · Vizag |
DIRECTORS
AS ON: 31.03.2018
|
Name : |
Mr. Suryanarayana Simhadri |
|
Designation : |
Director |
|
Address : |
H. No 8-2-601/2/C1, Plot No 219 Bhanu Co-Op Society, Road No.10, Banjara Hills, Hyderabad-500034, Andhra Pradesh, India |
|
Date of Appointment : |
08.03.2017 |
|
DIN No.: |
01951750 |
|
|
|
|
Name : |
Mrs. Alka Tiwari |
|
Designation : |
Nominee Director |
|
Address : |
F/6, Sector-3, Dhurwa P.O. & P.S. Dhurwa, Ranchi-834004, Jharkhan, India |
|
Date of Appointment : |
06.03.2017 |
|
DIN No.: |
03502306 |
|
|
|
|
Name : |
Mr. Harinbhai Ramchandra Pathak |
|
Designation : |
Director |
|
Address : |
Madhuram, Prankunj Soc., Pushpkunj Maninagar, Ahmedabad-380008, Gujarat, India |
|
Date of Appointment : |
08.07.2016 |
|
DIN No.: |
07552994 |
|
|
|
|
Name : |
Mr. Guddushastri Malaharshastri Inamdar |
|
Designation : |
Director |
|
Address : |
#82/1, Shivashakti Nilaya, K R Road, Opp. V V Puram Science College, Shankarp Uram, Basa Bangalore South-560004, Karnataka, India |
|
Date of Appointment : |
08.07.2016 |
|
DIN No.: |
07552999 |
|
|
|
|
Name : |
Mr. Umesh Vasant Dhatrak |
|
Designation : |
Managing Director |
|
Address : |
104, Yamunashree Apartment, Sr. No.120A/B, Sinhgad Road, Javal Navashya Maruti Mand Ir Parvti, Pune-411030, Maharashtra, India |
|
Date of Appointment : |
14.09.2017 |
|
DIN No.: |
07718394 |
|
|
|
|
Name : |
Mr. Sudhir Dattatraya Panadare |
|
Designation : |
Additional Director |
|
Address : |
111, Hi-Five Rcf Colony Chembur Mumbai-400074, Maharashtra, India |
|
Date of Appointment : |
18.12.2017 |
|
DIN No.: |
07933191 |
|
|
|
|
Name : |
Mr. Umesh Dongre |
|
Designation : |
Additional Director |
|
Address : |
94-F, Pocket Iv, Mayur Vihar Phase 1, Patparganj, Delhi-110091, India |
|
Date of Appointment : |
09.02.2018 |
|
DIN No.: |
08039073 |
|
|
|
|
Name : |
Mr. Gurveen Sidhu |
|
Designation : |
Additional Director |
|
Address : |
370, K P Thakkar Block Asiad Village Complex, Andrewsganj South Delhi 110049, India |
|
Date of Appointment : |
18.05.2018 |
|
DIN No.: |
08121526 |
KEY EXECUTIVES
|
Name : |
Mr. Jai Bhagwan Sharma |
|
Designation : |
Company Secretary |
|
Address : |
H. No. 1960, Sector 32-A, Chandigarh Road, Ludhiana-141010, Punjab, India |
|
Date of Appointment : |
01.10.2017 |
|
PAN No.: |
AMSPS6071R |
|
|
|
|
Name : |
Mr. Umesh Dongre |
|
Designation : |
Chief Finance Officer |
|
Address : |
94-F, Pocket Iv, Mayur Vihar Phase 1, Patparganj, Delhi-110091, India |
|
Date of Appointment : |
09.02.2018 |
|
PAN No.: |
ABDPD4840P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2018
|
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 |
413769483 |
75.00 |
|
|
(B) Public |
137918617 |
25.00 |
|
|
Grand Total |
551688100 |
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 |
||
|
Central
Government/ State Government(s) |
413769483 |
75.00 |
|
|
President of India |
413769483 |
75.00 |
|
|
Sub Total A1 |
413769483 |
75.00 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
413769483 |
75.00 |
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/ |
4900 |
0.00 |
|
|
Foreign Portfolio
Investors |
8084621 |
1.47 |
|
|
Financial
Institutions/ Banks |
12986740 |
2.35 |
|
|
Life Insurance
Corporation of India |
12146506 |
2.20 |
|
|
Insurance
Companies |
6054475 |
1.10 |
|
|
Any Other (specify) |
2400 |
0.00 |
|
|
UTI |
2400 |
0.00 |
|
|
Sub Total B1 |
27133136 |
4.92 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0.00 |
||
|
Central
Government/ State Government(s)/ President of India |
70817 |
0.01 |
|
|
Sub Total B2 |
70817 |
0.01 |
|
|
B3)
Non-Institutions |
0.00 |
||
|
Individual share
capital up to INR 0.200 million |
67298502 |
12.20 |
|
|
Individual share
capital in excess of INR 0.200 million |
15974339 |
2.90 |
|
|
Any Other
(specify) |
27441823 |
4.97 |
|
|
Trusts |
38600 |
0.01 |
|
|
HUF |
5111890 |
0.93 |
|
|
Foreign Nationals |
600 |
0.00 |
|
|
Non-Resident
Indian (NRI) |
3256774 |
0.59 |
|
|
Overseas Corporate
Bodies |
500 |
0.00 |
|
|
Clearing Members |
4203589 |
0.76 |
|
|
Bodies Corporate |
14829870 |
2.69 |
|
|
Sub Total B3 |
110714664 |
20.07 |
|
|
B=B1+B2+B3 |
137918617 |
25.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Manufacturing and Marketing of
Fertilizers and Industrial Chemicals. [Registered Activity] |
|
|
|
|
Products : |
Fertilizers and Industrial Chemicals |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : [AS ON: 31.03.2017] |
3530 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India Swastik Chamber Chembur, Mumbai, Maharashtra, India · State Bank of India Branch, NGN Vaidya Marg, Hornimum Circle, Fort, Mumbai-400001, Maharashtra, India · Yes Bank Limited 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India · Kotak Mahindra Bank Limited 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors 1 : [AS ON: 31.03.2017] |
|
|
Name : |
Kalyaniwalla and Mistry LLP Chartered Accountants |
|
Address: |
Mumbai, Maharashtra, India |
|
|
|
|
Auditors 2 : [AS ON: 31.03.2017] |
|
|
Name : |
Chhajed and Doshi |
|
Address: |
Mumbai, Maharashtra, India |
|
|
|
|
Cost Auditors: [AS ON: 31.03.2017] |
|
|
Name : |
Rohit J Vora Chartered Accountants |
|
Address: |
Mumbai, Maharashtra, India |
|
|
|
|
Name : |
Musib and Company Chartered Accountants |
|
Address: |
Mumbai, Maharashtra, India |
|
|
|
|
Solicitor: [AS ON: 31.03.2017] |
|
|
Name : |
M.S. Bodhanwalla and Company |
|
Address: |
Mumbai, Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint Controlled
Entities : [AS ON: 31.03.2017] |
· Fact-RCF Building Products Limited (FRBL) · Urvarak Videsh Limited (UVL) · Talcher Fertilizers Limited (Formerly Known As Rashtriya Coal Gas Fertilizers Limited) (TFL) |
CAPITAL STRUCTURE
AS ON: 31.03.2018
Authorised Capital : NOT AVAILABLE
Issued, Subscribed & Paid-up Capital : INR 5516.900 Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000000 |
Equity Shares |
INR 10/- each |
INR 8000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
551688100 |
Equity Shares |
INR 10/- each |
INR 5516.900
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
5516.900 |
5516.900 |
5516.900 |
|
(b) Reserves & Surplus |
23780.000 |
23733.300 |
22651.400 |
|
(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) |
29296.900 |
29250.200 |
28168.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
3200.600 |
1138.400 |
1522.100 |
|
(b) Deferred tax liabilities (Net) |
2197.700 |
2188.100 |
2162.800 |
|
(c)
Other long term liabilities |
2728.800 |
2428.800 |
2188.900 |
|
(d)
long-term provisions |
2537.800 |
1416.100 |
1395.100 |
|
Total
Non-current Liabilities (3) |
10664.900 |
7171.400 |
7268.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
9345.900 |
15455.400 |
26031.600 |
|
(b)
Trade payables |
6974.000 |
6343.300 |
6056.500 |
|
(c)
Other current liabilities |
6545.700 |
5812.400 |
7909.300 |
|
(d)
Short-term provisions |
1378.000 |
1325.100 |
1092.400 |
|
Total
Current Liabilities (4) |
24243.600 |
28936.200 |
41089.800 |
|
|
|
|
|
|
TOTAL |
64205.400 |
65357.800 |
76527.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
19034.900 |
15382.400 |
15018.400 |
|
(ii)
Intangible Assets |
14.100 |
33.500 |
55.800 |
|
(iii)
Capital work-in-progress |
1523.600 |
1072.400 |
1499.700 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
675.000 |
501.500 |
485.200 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
7.500 |
1571.400 |
2379.800 |
|
(e)
Other Non-current assets |
3266.200 |
1786.600 |
1195.000 |
|
Total
Non-Current Assets |
24521.300 |
20347.800 |
20633.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
7416.500 |
7933.000 |
11549.200 |
|
(c)
Trade receivables |
29554.100 |
36417.200 |
43276.300 |
|
(d)
Cash and cash equivalents |
59.500 |
130.100 |
31.500 |
|
(e)
Short-term loans and advances |
880.700 |
202.700 |
317.900 |
|
(f)
Other current assets |
1773.300 |
327.000 |
718.200 |
|
Total
Current Assets |
39684.100 |
45010.000 |
55893.100 |
|
|
|
|
|
|
TOTAL |
64205.400 |
65357.800 |
76527.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
73186.300 |
72231.700 |
82413.500 |
|
|
|
Other Income |
612.400 |
679.800 |
850.500 |
|
|
|
TOTAL |
73798.700 |
72911.500 |
83264.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
29958.900 |
28255.000 |
35234.000 |
|
|
|
Purchases of Stock-in-Trade |
2136.600 |
2256.800 |
3489.100 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
146.400 |
1469.300 |
(2324.300) |
|
|
|
Employees benefits expense |
5737.500 |
5036.400 |
4959.800 |
|
|
|
Exceptional items |
1.200 |
0.000 |
0.000 |
|
|
|
Other expenses |
32539.600 |
31055.900 |
36323.900 |
|
|
|
TOTAL |
70520.200 |
68073.400 |
77682.500 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
3278.500 |
4838.100 |
5581.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
625.900 |
939.800 |
1452.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2652.600 |
3898.300 |
4128.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1370.400 |
1411.000 |
1476.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1282.200 |
2487.300 |
2652.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
494.200 |
694.700 |
925.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
788.000 |
1792.600 |
1726.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
1.43 |
3.25 |
3.13 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
1095.000 |
2415.900 |
|
|
|
|
|
|
Cash generated from operations |
NA |
16669.100 |
(5294.800) |
|
|
|
|
|
|
Net Cash from Operating Activities |
NA |
15954.100 |
(6334.800) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
147.39 |
184.02 |
191.67 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.48 |
1.98 |
1.90 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
79.31 |
75.88 |
57.09 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.44 |
0.61 |
0.48 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.16 |
0.29 |
0.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.43 |
0.48 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.43 |
0.60 |
1.06 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.83 |
0.99 |
1.46 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.70 |
0.56 |
0.59 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.24 |
5.15 |
3.84 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.08 |
2.48 |
2.09 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.23 |
2.74 |
2.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.69 |
6.13 |
6.13 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.64 |
1.56 |
1.36 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.33 |
1.28 |
1.08 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.46 |
0.45 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.27 |
3.21 |
5.43 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.64 |
1.56 |
1.36 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
|
|
|
Market Value |
INR 75.25/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
5516.900 |
5516.900 |
5516.900 |
|
Reserves & Surplus |
22651.400 |
23733.300 |
23780.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
28168.300 |
29250.200 |
29296.900 |
|
|
|
|
|
|
long-term borrowings |
1522.100 |
1138.400 |
3200.600 |
|
Short term borrowings |
26031.600 |
15455.400 |
9345.900 |
|
Total
borrowings |
27553.700 |
16593.800 |
12546.500 |
|
Debt/Equity
ratio |
0.978 |
0.567 |
0.428 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
82413.500 |
72231.700 |
73186.300 |
|
|
|
(12.355) |
1.322 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
82413.500 |
72231.700 |
73186.300 |
|
Profit |
1726.400 |
1792.600 |
788.000 |
|
|
2.09% |
2.48% |
1.08% |
LEGAL CASES
LITIGATION DETAILS FILE ATTACHED
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 |
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 |
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 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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G80144454 |
100162198 |
STATE BANK OF
INDIA |
23/02/2018 |
- |
- |
1962207364.0 |
COMMERCIAL BRANCH,
NGN VAIDYA MARG,HORNIMUM CIRCLE, FORTMUMBAIMH400001IN |
|
2 |
G32639684 |
100070363 |
YES BANK LIMITED |
12/12/2016 |
- |
- |
550000000.0 |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMA400018IN |
|
3 |
C69435766 |
10601144 |
KOTAK MAHINDRA
BANK LIMITED |
15/10/2015 |
- |
- |
1000000000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN |
|
4 |
A66955105 |
90188805 |
STATE BANK OF
INDIA |
12/05/2000 |
26/06/2009 |
- |
19000000000.0 |
MID CORPORATE LOAN
ADMIN. UNIT, SHRI HARI BUILDINGRTO LANE, FOUR BUNGALOWS, ANDHERI
(WEST)MUMBAIMH400053IN |
|
5 |
Y10287304 |
90185405 |
STATE BANK OF
INDIA |
03/01/1989 |
- |
- |
100000000.0 |
MAHUL ROAD
BRANCHBOMBAYMH400074IN |
|
6 |
Y10289963 |
90188064 |
BANK OF INDIA |
27/06/1979 |
21/06/1988 |
- |
300000000.0 |
MAHUL ROAD
BRANCHCHEMBURBOMBAYMH400074IN |
|
7 |
G49349715 |
10336106 |
HSBC BANK
(MAURITIUS) LIMITED |
18/01/2012 |
- |
07/07/2017 |
1250000000.0 |
HSBC CENTRE18 CYBERCITY,
EBENE,MAURITIUSNA400001MU |
|
8 |
G48199129 |
10425873 |
KOTAK MAHINDRA
BANK LIMITED |
02/05/2013 |
- |
07/07/2017 |
1000000000.0 |
36-38A, NARIMAN
BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
9 |
G30408306 |
10469676 |
HSBC BANK (MAURITIUS)
LIMITED |
10/12/2013 |
- |
07/12/2016 |
1164826000.0 |
6TH FLOOR,HSBC
CENTRE,18 CYBER CITY,EBENENANAMU |
|
10 |
C68153378 |
10344336 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
01/03/2012 |
- |
08/10/2015 |
480000000.0 |
52/60 MAHATMA GANDHI
ROADFORTMUMBAIMH400001IN |
|
11 |
C50527555 |
10495452 |
NEW INDIA CO-OP
BANK LIMITED |
05/05/2014 |
- |
23/03/2015 |
250000000.0 |
NEW INDIA BHAVAN,
ANANT VISHRAM NAGWEKAR MARG,BALASAHEB WORLIKAR CHOWK,
PRABHADEVIMUMBAIMH400025IN |
|
12 |
C39630942 |
10338970 |
HONG KONG AND
SHANGHAI BANKING CORPORATION LIMITED |
18/01/2012 |
- |
02/01/2015 |
223500000.0 |
52/60 MAHATMA
GANDHI ROADFORTMUMBAIMH400001IN |
|
13 |
C05974878 |
90188944 |
ICICI BANK LIMITED |
25/08/2004 |
- |
05/06/2014 |
5500000.0 |
LANDMARKREACECOURSE
CIRCLEVADODARAMH390007IN |
|
14 |
C04498564 |
90188388 |
IDBI BANK LIMITED |
25/05/1990 |
- |
26/05/2014 |
18100000.0 |
IDBI OTOWER; CUFFE
PARADECOLOBABOMBAYMH400005IN |
|
15 |
C03958394 |
90188824 |
ANDHRA BANK |
29/12/2000 |
- |
21/05/2014 |
600000000.0 |
CHEMBUR
BRANCHCHEMBURMUMBAIMHIN |
|
16 |
C03991304 |
90188687 |
ICICI BANK LIMITED |
04/07/1997 |
04/07/1997 |
12/05/2014 |
500000000.0 |
163 BACKBAY
RECLAMATIONBOMBAYMH400020IN |
|
17 |
C04787784 |
10203696 |
KOTAK MAHINDRA BANK
LIMITED |
10/02/2010 |
- |
07/05/2014 |
750000000.0 |
36-38A, NARIMAN
BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
18 |
C03990546 |
10095638 |
STATE BANK OF
BIKANER AND JAIPUR |
12/03/2008 |
20/03/2009 |
30/04/2014 |
1064100000.0 |
SIR P M ROADFORTMUMBAIMH400023IN |
|
19 |
B90087222 |
10153362 |
CALYON |
31/03/2009 |
- |
21/11/2013 |
56000000.0 |
SINGAPORE
BRANCH168-ROBINSON ROAD, NO.22.01 CAPITAL TOWERSINGAPORENA068912SG |
|
20 |
B76556745 |
10200954 |
NEW INDIA
CO-OPERATIVE BANK LTD. |
23/12/2009 |
- |
18/05/2013 |
240000000.0 |
NEW INDIA BHAVAN,
ANANT VISHRAMNAGVEKAR MARG, PRABHADEVI,MUMBAIMH400025IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Term Loan from Banks Yes Bank WCTL |
NA |
206.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Foreign currency
loans from banks-Buyers Credit |
|
|
|
Rupee loans |
NA |
2806.800 |
|
Other Loans |
|
|
|
Commercial Paper |
NA |
3400.000 |
|
|
|
|
|
Total |
NA |
6412.800 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2018 (INR In Million) |
31.03.2017 (INR In Million) |
|
Invoices/ debit
notes and claims raised by GAIL(India ) Ltd |
|
|
|
Increased gas transmission charges for ONGC pipeline Stay order obtained from Mumbai High Court and directed to resolve through arbitration |
NA |
643.000 |
|
Levy of Market priced gas differential for use of APM/Domestic Gas for Non-fertilizer Non-Urea operations/For non-submission for FICC certified gas utilization data |
NA |
10628.300 |
|
Claims on the
Company not acknowledged as debts by Contractors/Suppliers etc |
NA |
177.900 |
|
Demands raised by various
authorities that may arise in respect of matters in appeal |
|
|
|
Excise Duty (D) * |
NA |
338.400 |
|
Excise Duty (S) |
NA |
56.900 |
|
Sales tax |
NA |
382.500 |
|
Income tax |
NA |
251.000 |
|
Service tax (D) |
NA |
213.100 |
|
Service tax (S) |
NA |
43.700 |
|
Custom duty (D) |
NA |
809.300 |
|
Custom duty (secured by Bank Guarantee)** |
NA |
256.200 |
|
Water charges claimed by Municipal Corporation of Greater Mumbai |
NA |
22.800 |
|
Claims before arbitrators and Courts |
NA |
90.000 |
|
Claims preferred by local authorities |
NA |
83.400 |
|
NOTE: (D) – Demands raised / (S) – Show cause notice issued. *includes an amount of INR 230.500 million (P.Y. INR 230.500 million) towards duty, interest and penalty relating to purchase of Naphtha at concessional rate of excise duty for the purposes other than mentioned in the exemption notification for the period November-1996 to October-2005. The demand for the period upto February-2005 for INR 212.800 million (P.Y. INR 212.800 million) has been appealed against by the Company and the matter is resting with the Honorable Supreme Court, which is yet to be heard. For the subsequent period the show cause notice has been stayed by CESTAT and appeal is yet to be heard. Pending hearing, no provision is considered necessary. ** The demand of duty is secured by Bank Guarantees and the Company has filed an appeal against the same before the bench of CESTAT, which is yet to be heard. Company has been advised by solicitors and advocates that the demand is not tenable and no provision is considered necessary. The amount of claims in respect of legal cases filed against the Company for labour matters relating to regular employees and not acknowledged as debts is not ascertainable |
||
CORPORATE INFORMATION
[AS ON 31.03.2017]
The Company is a public company domiciled in India and is incorporated under provisions of the Companies Act applicable in India. Its shares are listed on two recognized stock exchanges in India. The registered office of the Company is located at Priyadarshini, Eastern Express Highway, Sion Mumbai 400022.
The Company is engaged in the manufacturing and marketing of fertilizers and industrial chemicals
FIXED ASSETS [AS ON
31.03.2017]
Tangible Assets
- Land
- Building
- Railway Sidings
- Plant and Machinery
- Water Systems Sewerage and Drainage
- Miscellaneous Equipment’s
- Furniture and Fixtures
- Office Equipment
- Transport Vehicles
Intangible Assets
- Computer
Software
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 67.45 |
|
UK Pound |
1 |
INR 89.79 |
|
Euro |
1 |
INR 78.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHI |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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.