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|
MIRA INFORM REPORT
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Report No. : |
516622 |
|
Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
RALLIS INDIA LIMITED |
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Registered
Office : |
156/157, 15th Floor, Nariman Bhavan, 227, Nariman Point, Mumbai-400021, Maharashtra |
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Tel. No.: |
91-22-66652700 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
23.08.1948 |
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CIN No.: [Company Identification
No.] |
L36992MH1948PLC014083 |
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Capital
Investment / Paid-up Capital : |
INR 194.471 Million |
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IEC No.: [Import-Export Code No.] |
0388041439 |
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|
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PAN No.: [Permanent Account No.] |
AABCR2657N |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Public Limited
Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
· Subject engaged in the business of providing crop care solutions and agri services to the farming community ·
The Company principally manufactures “agri
inputs”, comprising crop protection products, plant growth nutrients, organic
compost and seeds (Registered Activity) |
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|
|
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No. of Employees
: |
977 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Maximum Credit Limit : |
USD 33700000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company incorporated in the year 1948. It is a manufacturer of agriculture products including pesticides, seeds and fertilizer and also engaged in manufacturing of fine chemicals like gelatin and distributes some lather chemicals. It is a part of the Tata group and one of the leading players in the domestic crop protection sector in India. For the financial year 2018, the company has increased its revenue from operations as compared to previous year and maintained decent profit margin of 9.44%. The rating takes into consideration strong financial risk profile of the company marked by healthy networth base and negligible debt balance sheet. Rating also derives strength from its established position in the domestic crop protection sector by increasing product offering and further enhancing distribution reach and strong focus on branding and relationship with farmers. However, rating strength is partially offset due to domestic crop protection segment is affected by irregular monsoon and volatility in farm income and declined in the profitability profile. Share price are quoted high on stock exchange (Share Price of INR 200 with face value of INR 01). Trade relations are reported as fair. Payments are reported to be regular. In view of strong financial base and established market position, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : AA+ |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
15.12.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
15.12.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 25.06.2018
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 DENIED BY
|
Name : |
Not Divulged |
|
Designation : |
Office Executive |
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Contact No.: |
91-22-66652700/ 67761700 |
|
Date : |
22.06.2018 |
LOCATIONS
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Registered Office : |
156/157, 15th Floor, Nariman Bhavan, 227, Nariman Point, Mumbai-400021, Maharashtra, India |
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Tel. No.: |
91-22-66652700 |
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Fax No.: |
91-22-66652827 |
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E-Mail : |
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Website : |
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Head Office : |
2nd Floor, Sharda Terraces, Plot No. 65,Sector 11 CBD Belapur, Navi Mumbai 400 614 |
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Tel. No.: |
91-22-67761700 |
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Fax No.: |
91-22-67761634 |
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Factory 1 : |
Plot C 5 and C 6, MIDC Industrial Area, Phase III, Shivani, Akola - 444 104 |
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Tel. No.: |
91-724 - 2258117/ 2258118/ 2258736 |
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Fax No.: |
91-724 - 2258114 |
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Factory 2: |
Plot No.2808, 3000 and 3301 GIDC Estate, Ankleshwar - 393 002, Dist. Bharuch, Gujarat, India |
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Tel. No.: |
91-2646-221075/ 221248 |
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Fax No.: |
91-2646-251388 |
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Factory 3: |
Plot No. Z - 110, Dahej SEZ Part-II P.O. Lakhigam, Taluka Vagra, District Bharuch-392130, Gujarat, India |
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Tel. No.: |
91-2641-286281 |
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Fax No.: |
91-2641-286306 |
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Factory 4: |
Plot No. D 26, Lote Parashuram, MIDC Area, Near Hotel Vakratunda, Taluka Khed, Ratnagiri - 415 722, Maharashtra, India |
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Tel. No.: |
91-2356-272618/272619/272884/272885 |
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Fax No.: |
91-2356-272369 |
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Zonal Offices : |
Located at : · Bangalore · Chandigarh · Kolkata · Secunderabad |
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Regional Offices : |
Located at : · Ahmedabad · Bhatinda · Lucknow · Pune ·
Raipur |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Veeramani Shankar |
|
Designation : |
Managing Director |
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Address : |
Flat No. 14 Wing A, Kalpataru Habitat, Dr. S. S. Rao Road, Parel, Mumbai- 400012, Maharashtra, India |
|
Date of Appointment : |
13.03.2007 |
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DIN No.: |
01385240 |
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PAN No.: |
AMIPS2752F |
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Name : |
Mr. Bhaskar Bhat |
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Designation : |
Director |
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Address : |
No.884, Chaitanya Plot, Indiranagar Ist Stage, Bangalore-560038, Karnataka, India |
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Date of Appointment : |
08.10.2015 |
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DIN No.: |
00148778 |
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Name : |
Mr. Prakash Ranjan Rastogi |
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Designation : |
Director |
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Address : |
2, Blooming Heights, 4, Pali Hill, Bandra, Mumbai-400050, Maharashtra, India |
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Date of Appointment : |
13.03.2007 |
|
DIN No.: |
00110862 |
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Name : |
Ms. Padmini Bhalchandra Khare |
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Designation : |
Director |
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Address : |
107, 1st Floor, Cumballa Co-Operative Society, G D Marg Peddar Road, Mumbai 400026, Maharashtra, India |
|
Date of Appointment : |
22.07.2016 |
|
DIN No.: |
00296388 |
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|
|
|
Name : |
Mrs. Ramakrishnan Mukundan |
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Designation : |
Director |
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Address : |
Flat No. 1301/1302, 13th Floor Dosti Flamingoes - Snowflama, Ct J Marg, Sewree, Mumbai-400033, Maharashtra, India |
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Date of Birth/Age: |
19.09.1966 |
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Date of Appointment : |
03.12.2009 |
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DIN No.: |
00778253 |
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Name : |
Dr. Yashwant Shankarrao Thorat |
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Designation : |
Director |
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Address : |
Indu Niketan, General Thorat Road, Tarabai Park, Kolhapur-416003, Maharashtra, India |
|
Date of Appointment : |
01.07.2011 |
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DIN No.: |
02652734 |
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Name : |
Dr. Punita Kumar Sinha |
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Designation : |
Director |
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Address : |
51 Gate House Road Newton Ma Massachusetts 024671320 US |
|
Date of Appointment : |
26.03.2014 |
|
DIN No.: |
05229262 |
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Name : |
Dr. Natraj Collur Visweswaria |
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Designation : |
Director |
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Address : |
120, Adarsh Vista, Vibhutipura, Bangalore-560037, Karnataka, India |
|
Date of Appointment : |
22.07.2016 |
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DIN No.: |
07132764 |
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|
Name : |
Mr. John Mulhall |
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Designation : |
Additional Director |
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Address : |
Vasu Kamal 601, 14th Road, Bandra (West), Mumbai Suburban, Mumbai-400050, Maharashtra, India |
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Date of Birth/Age: |
18.03.1968 |
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Date of Appointment : |
01.04.2018 |
|
DIN No.: |
08101474 |
KEY EXECUTIVES
|
Name : |
Mr. Pouruchisti Shahrukh Meherhomji |
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Designation : |
Company Secretary |
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Address : |
A-6/ G-3, Brahmand Phase II, Azad Nagar, Thane-400607, Maharashtra, India |
|
Date of Appointment : |
18.09.2003 |
|
PAN No.: |
AAUPM3775G |
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Name : |
Mr. Veeramani Shankar |
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Designation : |
Chief Executive Officer |
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Address : |
Flat No. 14 Wing A, Kalpataru Habitat, Dr. S. S. Rao Road, Parel, Mumbai- 400012, Maharashtra, India |
|
Date of Appointment : |
13.03.2007 |
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PAN No.: |
AMIPS2752F |
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|
Name : |
Mr. Ashish Priyakant Mehta |
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Designation : |
Chief Financial Officer |
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Address : |
204, Sai Prasad CHS, Sec-20, Pl-No-2, Near Shilp Chowk, Kharghar, Navi Mumbai-410210, Maharashtra, India |
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Date of Appointment : |
22.04.2014 |
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PAN No.: |
ADQPM5391P |
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Senior Leadership |
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Name : |
K. R. Venkatadri |
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Designation : |
Chief Operating Officer |
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|
Name : |
Prosenjit Bose |
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Designation : |
Chief - Technology, Innovation and Business Development |
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Name : |
Mr. Ravindra R. Joshi |
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Designation : |
Vice President - Manufacturing |
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Name : |
Mr. Siddheswar Mallick |
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Designation : |
Vice President - Domestic Sales |
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Name : |
D. G. Shetty |
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Designation : |
Vice President - Planning, Logistics and Third Party Management |
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|
Name : |
Subhra Jyoti Roy |
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Designation : |
Vice President - International Business |
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Name : |
N. K. Uppal |
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Designation : |
Vice President - Agri Services |
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Name : |
Mr. Rajashekhar Khinnavar |
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Designation : |
Vice President - Corporate Projects and Quality Assurance |
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Name : |
Mr. Alok Chandra |
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Designation : |
Vice President - Human Resources and Corporate Sustainability |
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|
Name : |
S. Mallikarjunappa |
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Designation : |
Head - Research and Development |
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|
Name : |
Coomie N. Kapadia |
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Designation : |
Head - Internal Audit |
MAJOR SHAREHOLDERS
As on 31.03.2018
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % |
|
|
(A) Promoter & Promoter Group |
97416610 |
50.09 |
|
|
(B) Public |
97052280 |
49.91 |
|
|
Grand Total |
194468890 |
100.00 |
Statement showing shareholding pattern of the Promoter and
Promoter Group
|
Category
of shareholder |
No.
of fully paid up equity shares held |
Shareholding
as a % of total no. of shares (calculated as per SCRR, 1957) As a % of
(A+B+C2) |
|
|
A1) Indian |
|||
|
Any
Other (specify) |
97416610 |
50.09 |
|
|
TATA CHEMICALS LIMITED |
97341610 |
50.06 |
|
|
EWART INVESTMENTS LIMITED |
75000 |
0.04 |
|
|
Sub Total
A1 |
97416610 |
50.09 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
97416610 |
50.09 |
Statement showing shareholding pattern of the Public
shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR,
1957 As a % |
|
|
B1)
Institutions |
|
|
|
|
Mutual
Funds/ |
23982472 |
12.33 |
|
|
HDFC Trustee Company Limited
(*) |
5438673 |
2.80 |
|
|
Franklin India Smaller
Companies Fund |
3733258 |
1.92 |
|
|
ICICI Prudential(*) |
3715970 |
1.91 |
|
|
Sundaram Mutual Fund (*) |
2792498 |
1.44 |
|
|
SBI Magnum Taxgain Scheme |
2500000 |
1.29 |
|
|
Aditya Birla Sun Life Trustee
Private Limited (*) |
2255715 |
1.16 |
|
|
Alternate
Investment Funds |
1425566 |
0.73 |
|
|
Foreign
Portfolio Investors |
7583844 |
3.90 |
|
|
Financial
Institutions/ Banks |
250199 |
0.13 |
|
|
Insurance
Companies |
10066834 |
5.18 |
|
|
HDFC Standard Life Insurance
Company Limited |
6484723 |
3.33 |
|
|
Sub
Total B1 |
43308915 |
22.27 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
Central
Government/ State Government(s)/ President of India |
801150 |
0.41 |
|
|
Sub
Total B2 |
801150 |
0.41 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto INR 0.200 million |
22539761 |
11.59 |
|
|
Individual share capital in excess of INR 0.200 million |
19468240 |
10.01 |
|
|
Rakesh Jhunjhunwala |
7341000 |
3.77 |
|
|
Jhunjhunwala Rakesh Radheshyam |
6282070 |
3.23 |
|
|
Rakesh Jhunjhunwala |
5182750 |
2.67 |
|
|
NBFCs
registered with RBI |
242992 |
0.12 |
|
|
Any
Other (specify) |
10691222 |
5.50 |
|
|
Non-Resident Indian (NRI) |
2118518 |
1.09 |
|
|
Trusts |
56328 |
0.03 |
|
|
HUF |
884766 |
0.45 |
|
|
Clearing Members |
2069996 |
1.06 |
|
|
Director or Director's
Relatives |
4831 |
0.00 |
|
|
Bodies Corporate |
4564486 |
2.35 |
|
|
LLP |
326995 |
0.17 |
|
|
IEPF |
665302 |
0.34 |
|
|
Sub
Total B3 |
52942215 |
27.22 |
|
|
B=B1+B2+B3 |
97052280 |
49.91 |
BUSINESS DETAILS
|
Line of Business : |
· Subject engaged in the business of providing crop care solutions and agri services to the farming community ·
The Company principally manufactures “agri
inputs”, comprising crop protection products, plant growth nutrients, organic
compost and seeds (Registered Activity) |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
977 (Approximately) |
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Bankers : |
· State Bank of India · Citibank N.A. · Corporation Bank · BNP Paribas · IDBI Bank Limited · Axis Bank Limited · ICICI Bank Limited · HDFC Bank Limited · Oriental Bank of Commerce ·
Kotak Mahindra Bank Limited |
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Facilities : |
|
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Auditors : |
|
|
Name : |
B S R and Co. LLP Chartered Accountants |
|
|
|
|
Solicitors and Advocates
: |
Crawford Bayley and Company |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Tata Chemicals Limited |
|
|
|
|
Subsidiaries : |
· Rallis Chemistry Exports Limited · Metahelix Life Science Limited · Zero Waste Agro Organics Limited |
CAPITAL STRUCTURE
As on 31.03.2018
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
INR 1/- each |
INR 500.000 Million |
|
150000000 |
Preference Shares |
INR 10/- each |
INR 1500.000 Million |
|
|
Total |
|
INR 2000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
194470890 |
Equity Shares |
INR 1/- each |
INR 194.471 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
194468890 |
Equity Shares |
INR 1/- each |
INR 194.469 Million |
|
2000 |
Forfeited equity shares |
INR 1/- each |
INR 0.002 Million |
|
|
|
|
INR 194.471
Million |
a. Reconciliation of
the number of shares and amount outstanding at the beginning and at the end of
the year:
|
Fully paid equity
shares |
Number of shares |
Amount (INR In million) |
|
Balance at 31 March, 2017 |
194468890 |
194.469 |
|
Movements during the year |
-- |
-- |
|
Balance at 31 March, 2018 |
194468890 |
194.469 |
b. The Company has issued one class of equity shares having a par value of INR 1 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
194.471 |
194.471 |
194.471 |
|
(b) Reserves & Surplus |
11593.997 |
11059.501 |
8988.994 |
|
(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) |
11788.468 |
11253.972 |
9183.465 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
179.056 |
211.726 |
210.713 |
|
(b) Deferred tax liabilities
(Net) |
405.259 |
498.242 |
357.883 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
143.168 |
154.222 |
166.319 |
|
Total
Non-current Liabilities (3) |
727.483 |
864.190 |
734.915 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1.459 |
0.982 |
20.837 |
|
(b) Trade payables |
3686.537 |
2279.305 |
1914.461 |
|
(c) Other current liabilities |
992.560 |
975.748 |
1164.032 |
|
(d) Short-term provisions |
138.052 |
133.313 |
81.864 |
|
Total
Current Liabilities (4) |
4818.608 |
3389.348 |
3181.194 |
|
|
|
|
|
|
TOTAL |
17334.559 |
15507.510 |
13099.574 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3427.535 |
3384.392 |
3228.279 |
|
(ii) Intangible Assets |
25.298 |
59.315 |
92.976 |
|
(iii) Capital work-in-progress |
120.645 |
119.586 |
130.351 |
|
(iv) Intangible assets under
development |
126.155 |
111.377 |
109.225 |
|
(b) Non-current Investments |
3151.301 |
3301.214 |
3049.685 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
38.527 |
43.406 |
0.000 |
|
(e) Other Non-current assets |
956.930 |
1011.013 |
1380.114 |
|
Total
Non-Current Assets |
7846.391 |
8030.303 |
7990.630 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
801.443 |
2095.736 |
0.000 |
|
(b) Inventories |
3748.594 |
2444.887 |
2575.010 |
|
(c) Trade receivables |
3653.291 |
2258.375 |
1827.914 |
|
(d) Cash and cash equivalents |
56.916 |
66.165 |
59.720 |
|
(e) Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
1101.434 |
554.414 |
622.581 |
|
(g) Assets classified
as held for sale |
126.490 |
57.630 |
23.719 |
|
Total
Current Assets |
9488.168 |
7477.207 |
5108.944 |
|
|
|
|
|
|
TOTAL |
17334.559 |
15507.510 |
13099.574 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
14984.210 |
13857.144 |
12880.435 |
|
|
Other Income |
89.339 |
105.081 |
46.606 |
|
|
TOTAL
|
15073.549 |
13962.225 |
12927.041 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
7040.575 |
6353.728 |
6181.668 |
|
|
Purchases of Stock-in-Trade |
2360.133 |
1248.387 |
1212.997 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(730.627) |
357.988 |
-24.439 |
|
|
Employees benefits expense |
1256.534 |
1140.076 |
1024.514 |
|
|
Other expenses |
2795.673 |
2404.225 |
2423.080 |
|
|
Exceptional Items |
0.000 |
(1583.916) |
0.000 |
|
|
TOTAL |
12722.288 |
9920.488 |
10817.820 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2351.261 |
4041.737 |
2109.221 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
32.947 |
26.663 |
79.162 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2318.314 |
4015.074 |
2030.059 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
405.739 |
421.800 |
378.266 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1912.575 |
3593.274 |
1651.793 |
|
|
|
|
|
|
|
Less |
TAX |
497.716 |
932.934 |
390.172 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1414.859 |
2660.340 |
1261.621 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
7.28 |
13.68 |
6.49 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
31.626 |
2.830 |
127.947 |
|
Cash generated from operations |
538.790 |
4303.806 |
2530.913 |
|
Net cash flows (used in)/ generated by operating activities |
(50.091) |
3526.291 |
2181.705 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
88.99 |
59.49 |
51.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.10 |
6.14 |
7.05 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
143.14 |
109.44 |
94.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.63 |
1.65 |
0.82 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.64 |
1.10 |
0.59 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.29 |
0.23 |
0.27 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.02 |
0.02 |
0.04 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.41 |
0.30 |
0.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.31 |
0.33 |
0.39 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
71.36 |
151.59 |
26.64 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
9.44 |
19.20 |
9.79 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.16 |
17.16 |
9.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
12.00 |
23.64 |
13.74 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.97 |
2.21 |
1.61 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.19 |
1.48 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.68 |
0.73 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.09 |
1.11 |
1.85 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.97 |
2.21 |
1.61 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 200.00/- |
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 |
194.471 |
194.471 |
194.471 |
|
Reserves & Surplus |
8988.994 |
11059.501 |
11593.997 |
|
Net
worth |
9183.465 |
11253.972 |
11788.468 |
|
|
|
|
|
|
long-term borrowings |
210.713 |
211.726 |
179.056 |
|
Short term borrowings |
20.837 |
0.982 |
1.459 |
|
Current maturities of
long-term debts |
127.947 |
2.830 |
31.626 |
|
Total
borrowings |
359.497 |
215.538 |
212.141 |
|
Debt/Equity
ratio |
0.039 |
0.019 |
0.018 |
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 |
12880.435 |
13857.144 |
14984.210 |
|
|
|
7.583 |
8.133 |
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 |
12880.435 |
13857.144 |
14984.210 |
|
Profit |
1261.621 |
2660.340 |
1414.859 |
|
|
9.79% |
19.20% |
9.44% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2018 |
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
194.471 |
194.471 |
|
(b) Reserves & Surplus |
|
11711.265 |
10917.172 |
|
(c) Money received against
share warrants |
|
11.063 |
4.306 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
11916.799 |
11115.949 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
198.778 |
243.993 |
|
(b) Deferred tax liabilities
(Net) |
|
405.261 |
498.242 |
|
(c) Other long term
liabilities |
|
60.656 |
55.829 |
|
(d) long-term provisions |
|
158.855 |
168.269 |
|
Total
Non-current Liabilities (3) |
|
823.550 |
966.333 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1.459 |
124.885 |
|
(b) Trade payables |
|
5306.168 |
3286.037 |
|
(c) Other current liabilities |
|
1792.787 |
1693.757 |
|
(d) Short-term provisions |
|
145.153 |
140.148 |
|
Total
Current Liabilities (4) |
|
7245.567 |
5244.827 |
|
|
|
|
|
|
TOTAL |
|
19985.916 |
17327.109 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
3640.341 |
3611.723 |
|
(ii) Intangible Assets |
|
82.277 |
110.538 |
|
(iii) Capital work-in-progress |
|
123.439 |
119.874 |
|
(iv) Intangible assets under
development |
|
349.749 |
301.640 |
|
|
|
1958.231 |
1958.231 |
|
(b) Non-current Investments |
|
93.700 |
243.613 |
|
(c) Deferred tax assets (net) |
|
207.814 |
236.498 |
|
(d) Long-term Loan and Advances |
|
83.021 |
69.132 |
|
(e) Other Non-current assets |
|
1055.092 |
1086.436 |
|
Total
Non-Current Assets |
|
7593.664 |
7737.685 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
918.069 |
2205.225 |
|
(b) Inventories |
|
5721.828 |
3943.756 |
|
(c) Trade receivables |
|
3996.730 |
2637.423 |
|
(d) Cash and cash equivalents |
|
333.919 |
93.556 |
|
(e) Short-term loans and
advances |
|
11.161 |
11.161 |
|
(f) Other current assets |
|
1284.055 |
640.673 |
|
|
|
126.490 |
57.630 |
|
Total
Current Assets |
|
12392.252 |
9589.424 |
|
|
|
|
|
|
TOTAL |
|
19985.916 |
17327.109 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
17909.469 |
16635.242 |
|
|
Other Income |
|
131.750 |
127.932 |
|
|
TOTAL
|
|
18041.219 |
16763.174 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
9017.747 |
7941.308 |
|
|
Purchases of Stock-in-Trade |
|
2017.815 |
1099.648 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(1011.861) |
308.818 |
|
|
Employees benefits expense |
|
1648.993 |
1477.179 |
|
|
Other expenses |
|
3592.138 |
3172.236 |
|
|
Exceptional Items |
|
0.000 |
(1583.916) |
|
|
TOTAL |
|
15264.832 |
12415.273 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
2776.387 |
4347.901 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
43.053 |
72.967 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
2733.334 |
4274.934 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/ AMORTISATION |
|
463.108 |
475.479 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
2270.226 |
3799.455 |
|
|
|
|
|
|
|
Less |
TAX |
|
600.057 |
828.758 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
1670.169 |
2970.697 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
|
8.62 |
15.30 |
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 |
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) |
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 |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
ABOUT THE COMPANY
The Company is a Company incorporated under the Indian Companies Act, 1913. It has its Registered Office at Mumbai and is a Tata Enterprise, engaged in the business of providing crop care solutions and agri services to the farming community. It is a subsidiary of Tata Chemicals Limited and is listed on BSE Limited and The National Stock Exchange of India Limited.
OPERATIONS
1. CROP PROTECTION
Indian Agriculture in 2017-18 started on an optimistic note, reflecting a forecast of normal monsoon and commencing with good initial rainfall. Some areas, however, experienced delayed onset of monsoon or dry spells, whereas there was excess rainfall in others. Southern States such as Tamil Nadu, Karnataka and Rayalaseema in Andhra Pradesh faced severe drought in the first half of the season. Conditions improved in Tamil Nadu and parts of Karnataka due to the North East monsoon. Maharashtra, especially Marathwada and Vidarbha, faced drought during the Kharif season. The latest meteorological data shows mild to extreme dry conditions in 404 districts due to poor rainfall since October 2017. Of these, around 140 districts were termed severely to extremely dry during October 2017 to March 2018. Another 109 districts were moderately dry, while 156 had mild dry conditions. Worryingly, even when rainfall since June 2017 is considered - which includes the 2017 monsoon months - IMD’s standard precipitation index (SPI) shows 368 districts under mild to extreme dry conditions.
The year witnessed an increase in Cotton and Cumin acreages by 15% each as compared to the previous year. However, growth was not uniform across India. In Chattisgarh, Rabi Paddy acreage reduced by 80% due to water shortage. Drought in Rajasthan impacted industry growth and molecule consumption. Some regulatory restrictions also impacted the industry growth.
The year though, as per estimates, will have an all-time high food grain production of 277.49 Mt, which is 1% higher than 2016-17. Despite a bumper output, GVA of agriculture is expected to grow by just 2.1% in FY 18 vs. 4.9% in FY 17 on account of a crash in crop out-put prices, especially for pulses and oilseeds.
The year also saw reduced crop pest pressure in many areas, impacting the insecticides segment to a great extent. Inventory levels of crop protection products in the industry remained high due to poor liquidation. Chilli acreage reduced due to Gemini virus infestation and poor output price. Pest incidence in major crop pest segments like Brown Plant Hopper (BPH) and Blast on Rice, caterpillar on Pulses and Soybean, Powdery and Downey mildew of Grapes was low during the active infestation period. Hence consumption of many important molecules came down. Pink bollworm infestation on Cotton had a major impact, affecting not only productivity, but also impacting cash flow in the market. The transition to GST regime had its impact on slowing down markets for some months. Potato, Chilli and Pulses prices remained low. Paddy and Cotton prices improved from the lows during the crop harvest.
Untimely rainfall in West Bengal during the later part of October and incessant rainfall in the Northern States resulted in low pest infestation and poor yield.
Poor rains have impacted water availability in the country. Latest Government data reveals that 91 major reservoirs of the country were, on average, running at 25% of capacity as on April 2018. This was 16% lower than the corresponding period last year and 10% lower than the 10-year average.
Despite the irregular monsoon pattern and constrained acreages of few key crops in important geographies, The Company was able to grow the domestic business by over 11% over the previous year. Even in areas where the industry faced regulatory issues, Rallis has managed to maintain its business due to acceptance of Rallis Samrudh Krishi at both channel and farmer level. In paddy, market share improved through focused approach, in spite of low pest pressure in segments like BPH and Paddy blast. New products introduced during the year have received good response from farmers and will be growth drivers in the next few years.
Chillies, considered a high agrochemical consuming crop, suffered due to virus attack during the peak sparing period. The Company managed to hold its market share due to close coordination with chilli RSK farmers and right products mix in key segments. In soybean crop, where farmers faced challenges due to narrow leaves weeds complex, we were able to provide right solutions through our new chemistry product, Mark.
New Products
introduced during the year: The business introduced five new products as
briefly noted below:
Pulito: A leading fungicide used for specialty crops for the control of a wide spectrum of diseases as well as to increase plant/ fruit health. The target geographies are Maharashtra, Andhra Pradesh, Tamil Nadu and Karnataka.
Cenator: This is a new age ready- mix formulation of Fluxapyroxad + Epoxiconazole for Paddy Sheath Blight. The key geographies for Cenator are Andhra Pradesh, Karnataka, Punjab, Haryana, West Bengal and Chattisgarh.
Odis: Odis is a one-shot ready mix of well proven chemistry with different mode of actions for effective control of sucking pests of rice and cotton, with a significant impact on paddy crop production.
Riceup: It is an innovative formulation, oil dispersion with broad spectrum systemic herbicide for the management of major weeds in both direct seeded rice and transplanted rice.
Jashn Super: Introduced for the control of key lepidopteron pest, which causes significant losses to commercial crops, Jashn Super has strengthened the Company’s Lepidopteron pest control solution portfolio. The Company aims to bring meaningful changes in the life of the Agri community, with a view to adding value for farmers through higher yields, better quality products and lower costs. The key interventions of the Company towards this are:
Agri-Solutions: The Company’s mission to provide Agri solutions enhancing value for customers has resulted in Rallis Samrudh Krishi® (RSK), a model aimed at adding value to farmers by improving yield. To this effect, the Company has been working on several crops such as pulses, grapes, chilli, etc. over last few years. During the year, the Company rolled out RSK across the country on various crops, reaching one million farmers and helping them to enhance their yield and farm income.
Digital Initiatives: The Company is progressing well on its digital as well as information and communication technology (ICT) initiatives. These initiatives will enable The Company to effectively provide necessary services to the agri community. One of the most critical needs of the farming community is availability of predictive advisory services, which The Company is building through its digital platform, Drishti. This system provides current and forecasted information on weather, crop health, pest/ disease, soil moisture, likely yield estimates and so on. Through Drishti, Rallis will be able to provide customized and predictive personalized advisory to the farmers. Rallis Krishi Samadhan, a mobile app was launched this year for the farming community, to provide them with relevant information regarding Agri-solutions. With features like customized package of practice, weather information, Mandi information, crop solutions, complaint/ query resolution, requesting personalized advisory through farm visits and many more features, this app is going to be the one stop solution for the farmers’ needs. Rallis Sampark, a mobile app for the Company’s internal team, was also launched this year to ensure better engagement with the farmer community, better visibility on our reach mechanisms and insights gathering. These are all intended to be key enablers to our Rallis Samrudh Krishi® programme.
Customer Promise: In line with the RSK agenda, Rallis has enunciated its “Customer Promise”, which is aimed at “enhancing farm prosperity and building customer relationship with the promise to be focused and relevant on continually emerging farming needs of our customers, offering them solutions with safest chemistry possible and educating them on key farming interventions, thereby helping them enhance their farm prosperity.
Fruits and Vegetables: Fruits & Vegetables are considered high potential crops, capable of increasing farm prosperity. The Company’s customized Package of Practices for key fruits and vegetable crops helps increase productivity and harvest of residue free produce. The preliminary view of the global Agrochemicals market (crop protection + non crop protection) is estimated to have increased by 0.52% to reach a total value of $61 billion during calendar 2017 when compared to $60.68 billion in 2016.
While commodity prices continued to remain weak, overall consumption of Agrochemicals increased across the globe in 2017 except for Latin America (LATAM) and Europe. Unlike preceding years, weather conditions in LATAM and NAFTA improved over 2016 with off set of El Niño. Return of normal monsoon benefitted water availability across many parts of Asia, although Vietnam got impacted by late season.
Australia experienced a decline due to adverse weather conditions which dis-incentivized farmers to invest in crops. While weather conditions in Europe showed many fluctuations which had adverse effect on standing crops, South Africa suffered due to intermittent drought conditions. Brazilian market declined significantly owing to adoption of Intacta RR soybean, negatively impacting the insecticides market.
High distributor inventory levels in LATAM (Brazil, Argentina) and Vietnam continues to remain a concern. Stringent environmental norms led to product and raw material scarcity, resulting in price increase in China. Pressure to display improved profitability by listed companies in China has also led to price increase. The International Business Division (IBD) has achieved a revenue growth of 9% during the current year, growing to INR 4790.000 million, as against INR 4410.000 million during 2016-17.
During the year, the Company has gained 14 registration approvals in several countries and also successfully launched 5 brands around the globe. Alliance business has seen substantial growth during the year as well. IBD continues its focus and developmental activities in key geographies in Latin America, South East Asia, European and African markets.
UNSECURED LOAN
|
PARTICULAR |
31.03.2018 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loan from bank |
120.000 |
150.000 |
|
Sales tax deferral under a state government scheme |
57.022 |
57.871 |
|
Total |
177.022 |
207.871 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C65928145 |
10023228 |
State Bank of India |
30/10/2006 |
10/09/2015 |
- |
2355000000.0 |
Corporate Accounts Group Branch, Neville House,J. N. Heredia Marg, Ballard Estate, FortMumbaiMH400001IN |
|
2 |
B90565318 |
10268354 |
Axis Trustee Services Limited |
27/01/2011 |
05/12/2011 |
26/11/2013 |
750000000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMH400025IN |
|
3 |
A07458755 |
80016332 |
STATE BANK OF INDIA |
01/08/1986 |
03/08/2004 |
06/12/2006 |
2100000000.0 |
COMMERCIAL BRANCHVAIDYA MARGMUMBAIMH400023IN |
|
4 |
Y10351968 |
90244331 |
UCO BANK |
23/12/2002 |
10/01/2003 |
02/08/2004 |
250000000.0 |
INDUSTRY HOUSE 159 CHURCH GATE RECLAMATIONMUMBAIMH400020IN |
|
5 |
Y10350060 |
90242423 |
INDUSIND BANK LTD |
28/03/2003 |
- |
25/03/2004 |
250000000.0 |
2401 GEN THIMMAYYA ROAD CANTOMENTPUNEMH411001IN |
CONTINGENT
LIABILITIES: (AS ON 31.03.2018)
The Company is involved in a number of appellate, judicial and arbitration proceedings (including those described below) concerning matters arising in the course of conduct of the Company’s businesses. Some of these proceedings in respect of matters under litigation are in early stages, and in some other cases, the claims are indeterminate. A summary of claims asserted on the Company in respect of these cases have been summarised below.
Guarantees
During the previous year, the Company had issued a corporate guarantee to debenture trustee in respect of issuance of debentures of INR 2700.000 million by Advinus Therapeutics Limited. (Advinus), to the extent of 16.89% of the total subscription of debentures issued by Advinus. The guarantee has been released during the current year on 5 October, 2017. The Company’s maximum exposure in this respect is INR Nil as at 31 March, 2018 (as at 31 March, 2017 INR 456.030 million).
Tax contingencies Amounts in respect of claims asserted by
various revenue authorities on the Company, in respect of taxes, which are in
dispute, have been tabulated below:
|
PARTICULARS |
31.03.2018 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Sales Tax |
137.075 |
195.030 |
|
Excise duty |
52.570 |
43.303 |
|
Customs duty |
14.410 |
14.410 |
|
Income tax |
629.972 |
6,61.906 |
|
Service tax |
6.026 |
9.081 |
|
Property cases |
0.000 |
4.736 |
|
Total |
147.053 |
235.466 |
The management believes that the claims made are untenable and is contesting them. As of the reporting date, the management is unable to determine the ultimate outcome of above matters. However, in the event the revenue authorities succeed with enforcement of their assessments, the Company may be required to pay some or all of the asserted claims and the consequential interest and penalties, which would reduce net income and could have a material adverse effect on net income in the respective reported period.
FIXED ASSETS
- Leasehold land
- Leasehold improvements
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipments
- Equipment under finance
lease
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 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 67.77 |
|
|
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.