|
|
|
MIRA INFORM REPORT
|
Report No. : |
514816 |
|
Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
SMARTCHEM TECHNOLOGIES
LIMITED |
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|
|
|
Registered
Office : |
Sai Hira, Survey No.93, Mundhwa, Pune – 411036, Maharashtra |
|
Tel. No.: |
91-22-67684118 |
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|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
21.01.1987 |
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|
|
|
CIN No.: [Company Identification
No.] |
U67120PN1987PLC166034 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 10.000 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA5046P |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCA5046P2ZC [Pune, Maharashtra] 03AACCA5046P1ZN [Ludhiana, Punjab] 24AACCA5046P1ZJ [Ghatak, Gujarat] 29AACCA5046P1Z9 [Bangalore, Karnataka] 36AACCA5046P1ZE [Telangana] 06AACCA5046P2ZG [Haryana] 37AACCA5046P1ZC [Rajam, Andhra Pradesh] |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Ammonium Nitrate and Weak Nitric Acid. (Registered Activity) |
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|
|
|
No. of Employees
: |
Not Divulged |
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 : |
Usually correct |
|
|
|
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Deepak Fertilizers and Petrochemicals Corporation Limited”. It is a well-established company incorporated in the year 1987. For the financial year 2017, the company achieved growth of 58.21% in its revenue as compared to the previous year along with a fair profit margin of 7.91%. Rating takes into consideration healthy financial base adequate net worth position along with good cash balances with funding support from promoters in the form of unsecured loans. The rating takes into account the company’s diversified business product portfolio comprising of fertilisers and industrial chemicals and the strong market position held in the industrial chemicals business with leadership in ammonium nitrate (TAN), nitric acid and Iso-Propyl Alcohol (IPA). Rating derives strength from long business track record, extensive experience of promoters along with managerial and product support from its parent company. The ratings are, however, constrained by the vulnerability of the chemical division’s profitability to inherent price cyclicality and the regulatory risk in the fertilisers business. Payment seems to be usually correct. 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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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 |
ICRA |
|
Rating |
Long Term Borrowing=AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
04.05.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Borrowing=A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
04.05.2018 |
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 22.06.2018.
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 [TEL. NO.: 91-22-67684118]
[91-20-66458000] incorrect number
LOCATIONS
|
Registered Office : |
Sai Hira, Survey No.93, Mundhwa, Pune – 411036, Maharashtra, India |
|
Tel. No.: |
91-20-66458000 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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|
|
|
Factory: |
IC Plant Plot K-1, MIDC Industrial Area, P.O. Taloja Raigad - 410208 Maharashtra, India |
|
Tel. No.: |
022-67684118 [Krutika Bidvi] |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Tapan Kumar Chatterjee |
||||||||||||||||||||||||||||||||||||||||
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Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
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Address : |
Flat No. 371, Clover Water Gardens, Kalyani Nagar, Pune – 411006, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
01.01.1951 |
||||||||||||||||||||||||||||||||||||||||
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Qualification : |
B. Tech (Hons), Ph.D |
||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
ABUPC7647L |
||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
05.06.2000 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00118123 |
||||||||||||||||||||||||||||||||||||||||
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Other
Directorship:
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|||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Sailesh Chimanlal Mehta |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
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Address : |
93, Koregaon Park, South Main Road, Pune – 411001, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
11.04.1961 |
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Qualification : |
B.Com, M.B.A. (USA) |
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PAN No.: |
AAFPM3448R |
||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
10.02.2000 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00128204 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Raghuraman Sriraman |
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Designation : |
Director |
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Address : |
Flat A-1/503, Bramha Suncity, S.No.7/8/38, Wadgaonsheri, Pune –
411014, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
21.02.1953 |
||||||||||||||||||||||||||||||||||||||||
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Qualification : |
B.Sc, F.C.S, I.C.W.A, B.G.L., Diploma in Management |
||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
ABSPR3779C |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.05.2004 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00228061 |
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Other
Directorship:
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|||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Sewak Ram Wadhwa |
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Designation : |
Director |
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Address : |
A – 261, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
27.07.1935 |
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Qualification : |
M.A., LLM, CAIIB, Masters Diploma in Public Administration |
||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
AAAPW0117C |
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|
Date of Appointment : |
14.07.2007 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00228201 |
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Other
Directorship:
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|||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Ms. Urmilkumar Purushottamdas Jhaveri |
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Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
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Address : |
230, Manekbaug Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
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Date of Birth/Age : |
23.06.2015 |
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Qualification : |
B.E. (Chem) |
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PAN No.: |
ACIPJ6132E |
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Date of Appointment : |
23.06.2017 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00273898 |
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Other
Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Madhumilan Parshuram Shinde |
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Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
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Address : |
B-703, Sector No. 3, Plot No. 19, Koparkhairne, Mumbai – 400709,
Maharashtra, India |
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Date of Birth/Age : |
14.12.1954 |
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Qualification : |
M.Sc (Chemistry), Diploma in Industrial Safety, Diploma in Ecology and
Environment |
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PAN No.: |
AFZPS4368H |
||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
25.06.2013 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
06533004 |
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Other
Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Ms. Parul Sailesh Mehta |
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|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
93, Koregaon Park, South Main Road, Pune – 411001, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.02.2017 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00196410 |
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Other
Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Yeshil Sailesh Mehta |
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|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
93, SUM, South Main Road, Koregaon Park, Pune – 411001, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.08.2017 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07866312 |
||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Mandar Meenanath Velankar |
|
Designation : |
Company Secretary |
|
Address : |
Katraj- Dehu Road, Bypass, A-504, Sun Orioan, Hotel Nikhil Garden Jawal, Vadgaon Budru K Sinhagad, Pune – 411041, Maharashtra, India |
|
Date of Appointment : |
09.08.2017 |
|
PAN No.: |
ACTPV3291M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Deepak Fertilisers and Petrochemicals Corporation Limited, India |
|
999994 |
|
Dilesh H. Mehta * |
|
1 |
|
A. P. Shah * |
|
1 |
|
R. Srieaman * |
|
1 |
|
T. K. Chatterjee * |
|
1 |
|
Rohit P. Shah * |
|
1 |
|
Deepak S. Desai * |
|
1 |
|
|
|
|
|
Total |
|
1000000 |
Note: * Shareholders mentioned in Sr. no. 2 to 7 are
holding shares on behalf of Deepak Fertilisers and Petrochemicals Corporation Limited
(DFPCL). (DFPCL) is the beneficial owner of the aforesaid 6 equity shares
pursuant to the provisions of Section 89 (1) (2) (3) of Companies Act, 2013
read with Rule 9 (2) Companies (Management and Administration) Rule, 2014.
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Ammonium Nitrate and Weak Nitric Acid. (Registered Activity) |
||||||
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||||||
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Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
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|
||||||
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Agencies Held : |
Not Available |
||||||
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||||||
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Exports : |
Not Divulged |
||||||
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||||||
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Imports : |
Not Divulged |
||||||
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||||||
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Terms : |
|
||||||
|
Selling : |
Not Divulged |
||||||
|
|
|
||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||
|
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|
||||||||||||||
|
Customers : |
|
||||||||||||||
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|
||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
· State Bank of India Churchgate Branch, Mumbai - 400001, Maharashtra, India ·
State Bank of India Industrial Finance Branch, Tara Chambers, Mumbai Pune Road, Wakdewadi, Pune – 411003, Maharashtra, India · Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. A B Road, Worli, Mumbai – 400018, Maharashtra, India · Kotak Mahindra Bank Limited 1st Floor, Kotak Office, , IBIS Commercial Block, Asset Area 9, Hospitality District, Delhi Aerocity, New Delhi – 110037, India · IDFC Bank Limited KRM Tower, 7th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamilnadu, India · Bank of Baroda Suraj Plaza-1, Sayaji Ganj, Through its Pune Branch. Baroda 390020, Gujarat, India · Axis Bank Limited 214-215 City Mall, 2nd Floor, Plot No 1S no 132, Ganesh Khind Road, Pune-411007, Maharashtra, India · Bank of Baroda CFS Branch, Mantri Court, 1 Floor, 39 Ramabai Ambedkar
Road, Pune - 411001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
B. K. Khare and Company Chartered Accountants |
|
Address : |
706/708, Sharada Chambers, New Mrine Line, Mumbai, 400020, Maharashtra, Indi |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB0265E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Deepak Fertilisers and Petrochemicals Corporation Limited [L24121MH1979PLC021360] |
|
|
|
|
Subsidiary Company: |
· Platinum Blasting Services Pty Limited · Australian Mining Explosives Pty Limited # Note: # Subsidiary of Platinum Blasting Services Pty Limited |
CAPITAL STRUCTURE
AFTER 21.09.2017
Authorised Capital : INR 355.000 Million
Issued, Subscribed & Paid-up Capital : INR 170.500
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
INR 10/- each |
INR 70.000 Million |
|
1800000 |
Preference Shares |
INR 100/- each |
INR 180.000 Million |
|
|
Total |
|
INR 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
382.860 |
339.394 |
400.308 |
|
(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) |
392.860 |
349.394 |
410.308 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
13.929 |
18.618 |
20.021 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
8.644 |
7.220 |
7.405 |
|
Total
Non-current Liabilities (3) |
22.573 |
25.838 |
27.426 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
331.000 |
331.000 |
238.000 |
|
(b)
Trade payables |
91.791 |
8.268 |
92.301 |
|
(c)
Other current liabilities |
60.386 |
39.482 |
13.322 |
|
(d)
Short-term provisions |
1.281 |
1.627 |
15.046 |
|
Total
Current Liabilities (4) |
484.458 |
380.377 |
358.669 |
|
|
|
|
|
|
TOTAL |
899.891 |
755.609 |
796.403 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
141.358 |
163.100 |
185.266 |
|
(ii)
Intangible Assets |
0.400 |
0.305 |
0.476 |
|
(iii)
Capital work-in-progress |
0.080 |
0.548 |
5.449 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
377.605 |
377.298 |
285.721 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
43.030 |
|
(e)
Other Non-current assets |
51.839 |
20.762 |
5.227 |
|
Total
Non-Current Assets |
571.282 |
562.013 |
525.169 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
142.666 |
0.000 |
0.000 |
|
(b)
Inventories |
64.888 |
54.832 |
56.121 |
|
(c)
Trade receivables |
53.370 |
4.819 |
147.538 |
|
(d)
Cash and cash equivalents |
10.124 |
85.235 |
33.177 |
|
(e)
Short-term loans and advances |
43.474 |
40.673 |
33.234 |
|
(f)
Other current assets |
14.087 |
8.037 |
1.164 |
|
Total
Current Assets |
328.609 |
193.596 |
271.234 |
|
|
|
|
|
|
TOTAL |
899.891 |
755.609 |
796.403 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
593.435 |
375.086 |
845.189 |
|
|
|
Other Income |
6.189 |
8.714 |
4.095 |
|
|
|
TOTAL |
599.624 |
383.800 |
849.284 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
253.022 |
206.559 |
566.215 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(0.007) |
1.635 |
3.446 |
|
|
|
Employees benefits expense |
35.659 |
35.948 |
39.138 |
|
|
|
CSR expenditure |
0.000 |
0.000 |
0.154 |
|
|
|
Other expenses |
205.936 |
147.620 |
181.786 |
|
|
|
TOTAL |
494.610 |
391.762 |
790.739 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
105.014 |
(7.962) |
58.545 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
23.366 |
25.413 |
6.883 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
81.648 |
(33.375) |
51.662 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
28.920 |
28.870 |
17.060 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
52.728 |
(62.245) |
34.602 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.815 |
(1.380) |
11.769 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
46.913 |
(60.865) |
22.833 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
46.49 |
(49.11) |
22.83 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
90629 |
65.423 |
125.682 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
73.100 |
57.367 |
91.622 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
32.83 |
4.69 |
63.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
11.12 |
77.83 |
5.73 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
132.41 |
14.61 |
59.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.62 |
(0.15) |
1.04 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.74 |
(0.05) |
0.31 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.50 |
0.45 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.84 |
0.95 |
0.58 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.23 |
1.09 |
0.87 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.36 |
0.47 |
0.47 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.49 |
(0.31) |
8.51 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
7.91 |
(16.23) |
2.70 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.21 |
(8.06) |
2.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
11.94 |
(17.42) |
5.56 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.68 |
0.51 |
0.76 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.54 |
0.36 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.44 |
0.46 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
33.10 |
33.10 |
23.80 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.68 |
0.51 |
0.76 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
400.308 |
339.394 |
382.860 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
410.308 |
349.394 |
392.860 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
238.000 |
331.000 |
331.000 |
|
Total
borrowings |
238.000 |
331.000 |
331.000 |
|
Debt/Equity
ratio |
0.580 |
0.947 |
0.843 |
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 |
845.189 |
375.086 |
593.435 |
|
|
|
(55.621) |
58.213 |
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 |
845.189 |
375.086 |
593.435 |
|
Profit/(Loss) |
22.833 |
(60.865) |
46.913 |
|
|
2.70% |
(16.23%) |
7.91% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G89072268 |
100181523 |
STATE BANK OF INDIA |
11/05/2018 |
- |
- |
7678500000.0 |
INDUSTRIAL FINANCE BRANCH,TARA
CHAMBERS,MUMBAI PUNE ROAD, WAKDEWADIPUNEMH411003IN |
|
2 |
G87197190 |
100176047 |
YES BANK LIMITED |
20/04/2018 |
- |
- |
2000000000.0 |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,DR. A B ROAD, WORLIMUMBAIMH400018IN |
|
3 |
G86416609 |
100173669 |
KOTAK MAHINDRA BANK
LIMITED |
12/04/2018 |
- |
- |
2000000000.0 |
1ST FLOOR, KOTAK
OFFICE, , IBIS COMMERCIAL BLOCKASSET AREA 9,HOSPITALITY DISTRICT, DELHI
AEROCITYNEW DELHIDL110037IN |
|
4 |
G72290125 |
100143464 |
IDFC BANK LIMITED |
17/11/2017 |
- |
- |
2000000000.0 |
KRM TOWER, 7TH
FLOOR, NO. 1,HARRINGTON ROAD, CHETPET,CHENNAITA600031IN |
|
5 |
G58060815 |
100129287 |
BANK OF BARODA |
27/09/2017 |
- |
- |
10000000000.0 |
SURAJ PLAZA-1, SAYAJI
GANJ,VADODARA -390020. THROUGH ITS PUNE BRANCH.BARODAGJ390020IN |
|
6 |
G84905280 |
100117356 |
AXIS BANK LIMITED |
24/07/2017 |
28/03/2018 |
- |
2000000000.0 |
214-215 CITY MALL,
2ND FLOOR, PLOT NO 1S NO 132, GANESH KHIND ROAD,PUNEMH411007IN |
|
7 |
G73172355 |
100108384 |
BANK OF BARODA |
19/06/2017 |
13/12/2017 |
- |
4000000000.0 |
CFS BRANCH, MANTRI
COURT, 1 FLOOR,39 RAMABAI AMBEDKAR ROADPUNEMH411001IN |
|
8 |
G06648232 |
90258622 |
UTI BANK LIMITED |
17/05/2000 |
20/02/2003 |
29/06/2016 |
80000000.0 |
JANGLI MAHARAJ ROAD
BRANCH; STERLING PLAZA1262/B; JANGLI MAHARAJ ROAD; DECCAN
GYMKHANAPUNEMH411004IN |
|
9 |
A73911893 |
80056676 |
STATE BANK OF INDIA |
24/04/2000 |
- |
07/11/2009 |
159500000.0 |
CHURCHGATE
BRANCHMUMBAIMH400001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
331.000 |
331.000 |
|
|
|
|
|
Total |
331.000 |
331.000 |
STATE OF COMPANYS
AFFAIRS
Plant operations were resumed at full capacity in June 2016 after indigenous revamp of KOBE Compressor. However in Second Quarter, plant operations were under pressure due to AN imports. WNA plant shutdown was taken in March 2017 on account of WHB tubes replacement due to leakages
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
·
Office Equipment
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 68.20 |
|
UK Pound |
1 |
INR 89.58 |
|
Euro |
1 |
INR 78.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
ARC |
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.