|
|
|
MIRA INFORM REPORT
|
Report No. : |
494969 |
|
Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
NALCO WATER INDIA LIMITED (w.e.f.10.10.2011) |
|
|
|
|
Formerly Known
As : |
NLC NALCO INDIA LIMITED (w.e.f.10.11.2006) ONDEO NALCO INDIA LIMITED |
|
|
|
|
Registered
Office : |
S. No 238/239,
3rd Floor, Quadra 1, Panchshil, Magarpatta Road, Sade Satra Nali, Pune –
411028, Maharashtra |
|
Tel. No.: |
91-20-22172066 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
16.12.1987 |
|
|
|
|
Com. Reg. No.: |
11-140332 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 50.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22229PN1987PLC140332 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0288023323 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO4994N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Water Treatment Chemicals, Industrial Additives and Oilfield Chemicals. (Registered Activity) |
|
|
|
|
No. of Employees
: |
442 (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 |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1987. It is a subsidiary of Nalco
Holdings BV, United States. The company is a manufacturer and seller of water treatment chemicals, oilfield chemicals and industries additives. As per the financial of 2017, the company has achieved a minimal
growth of 0.93% in its revenue as compared to the previous year’s revenue and
has reported and has reported an average net profit margin of 4.94%. The company possesses healthy financial position marked by sound net
worth base along with comfortable liquidity position. Rating takes into consideration the strength that the company derives
from its holding company and its experienced management team. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 01.03.2018
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
Management Non-Cooperative (991-20-66594000)
(Tel. No.: 91-20-22172066 not working)
LOCATIONS
|
Registered Office/ Corporate Office/
Headquarters: |
S. No 238/239,
3rd Floor, Quadra 1, Panchshil, Magarpatta Road, Sade Satra Nali, Pune –
411028, Maharashtra, India |
|
Tel. No.: |
91-20-39394000/ 39394380 |
|
Fax No.: |
91-20-39394380 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory
: |
1, Lenin Sarani, P.O.
Konnagar, District: Hooghly - 712235, West Bengal, India |
|
Tel. No.: |
91-33-26740296/
395/ 697/ 698 |
|
Fax No.: |
91-33-26722287/
26721775 |
|
|
|
|
Factory : |
Located at:
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Mukund Vasudevan |
|
Designation : |
Managing Director |
|
Address : |
B-5/902, World Spa West, Sector 30, Gurugram - 122001, Haryana, India |
|
Date of Birth/ Age : |
24.10.1969 |
|
Date of Appointment : |
01.06.2015 |
|
DIN No.: |
05146681 |
|
|
|
|
Name : |
Mr. Kedar Vasant Dubhashi |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No. 1 Rugvedi, Ajmal Road, Vile Parle (East), Mumbai - 400057,
Maharashtra, India |
|
Date of Birth/ Age : |
24.05.1972 |
|
Date of Appointment : |
15.06.2015 |
|
PAN No.: |
ABLPD3167B |
|
DIN No.: |
02338091 |
|
|
|
|
Name : |
Mr. Venkateswara Seshu Krishna Ravi Prasad Rachapudi |
|
Designation : |
Whole-Time Director |
|
Address : |
1-4-69/4/202, Om Sai Enclave, St No. 8, Habsiguda, Hyderabad – 500007, Telangana, India |
|
Date of Birth/ Age : |
15.08.1970 |
|
Date of Appointment : |
26.07.2016 |
|
DIN No.: |
07576099 |
|
|
|
|
Name : |
Ms. Smita Yedekar |
|
Designation : |
Director |
|
Address : |
Pecan Marigold S. No.15, Near Kumar City, Wadegaon, Pune-411014, Maharashtra, India |
|
Date of Birth/ Age : |
13.09.1973 |
|
Date of Appointment : |
22.12.2014 |
|
DIN No.: |
02260600 |
|
|
|
|
Name : |
Karl Sohrab Munshi |
|
Designation : |
Director |
|
Address : |
Fariyas B-1, 143, August Kranti Marg, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
08.04.1954 |
|
Date of Appointment : |
19.06.2012 |
|
DIN No.: |
02323024 |
|
|
|
|
Name : |
Mr. Nitesh Gupta |
|
Designation : |
Director |
|
Address : |
11 Ardmore Park Ardmore Park #14-04 Singapore 259957 |
|
Date of Appointment : |
09.03.2017 |
|
DIN No.: |
07751483 |
KEY EXECUTIVES
|
Name : |
Mr. Shrinivas Vallabhdas Rathi |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 304, Sr. No. 294, Shukarwar Peth,, Pune, 411002, Maharashtra,
India |
|
Date of Appointment : |
31.03.2015 |
|
PAN No.: |
AKTPR1654G |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 01.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
98.37534 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
1.35026 |
|
Public/Other than promoters [Individual/Hindu Undivided Family-Non-resident Indian (NRI)] |
0.00332 |
|
Public/Other than promoters (Body corporate) |
0.27102 |
|
Public/Other than promoters (Others-Clearing Members HUF) |
0.00006 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Water Treatment Chemicals, Industrial Additives and Oilfield Chemicals. (Registered Activity) |
||||||
|
|
|
||||||
|
Products / Services
: |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
442 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Bangalore LLP Chartered Accountants |
|
Address : |
Tower A, Wing 1, 7th Floor, Business Bay, Airport Road, Yerwada, Pune – 411006, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFP9359C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding
Company: |
|
|
|
|
|
Holding Company
till November 10, 2016: |
|
|
|
|
|
Holding Company
from November 11, 2016: |
|
|
|
|
|
Fellow Subsidiaries |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
50.000 |
50.000 |
50.000 |
|
(b) Reserves and Surplus |
903.800 |
726.200 |
499.900 |
|
(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) |
953.800 |
776.200 |
549.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
2.300 |
2.500 |
3.900 |
|
(d) long-term
provisions |
36.600 |
22.100 |
20.900 |
|
Total Non-current
Liabilities (3) |
38.900 |
24.600 |
24.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
770.000 |
800.000 |
830.000 |
|
(b) Trade
payables |
647.200 |
654.200 |
720.200 |
|
(c) Other current
liabilities |
108.900 |
102.000 |
112.300 |
|
(d) Short-term
provisions |
3.500 |
3.200 |
4.900 |
|
Total Current
Liabilities (4) |
1529.600 |
1559.400 |
1667.400 |
|
|
|
|
|
|
TOTAL |
2522.300 |
2360.200 |
2242.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
413.500 |
401.000 |
466.800 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
45.500 |
13.500 |
23.800 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
76.500 |
70.300 |
37.700 |
|
(d)
Long-term loans and advances |
329.400 |
325.300 |
243.100 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
864.900 |
810.100 |
771.400 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
449.100 |
413.600 |
389.700 |
|
(c) Trade
receivables |
997.700 |
925.400 |
850.300 |
|
(d) Cash and
bank balances |
80.900 |
57.000 |
45.000 |
|
(e)
Short-term loans and advances |
104.600 |
136.200 |
134.900 |
|
(f) Other
current assets |
25.100 |
17.900 |
50.800 |
|
Total
Current Assets |
1657.400 |
1550.100 |
1470.700 |
|
|
|
|
|
|
TOTAL |
2522.300 |
2360.200 |
2242.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3596.500 |
3563.400 |
3918.600 |
|
|
Other Income |
24.200 |
59.400 |
11.000 |
|
|
TOTAL |
3620.700 |
3622.800 |
3929.600 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1052.000 |
1118.100 |
1291.900 |
|
|
Purchases of
Stock-in-Trade |
351.500 |
301.000 |
492.700 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
5.900 |
(33.500) |
(52.500) |
|
|
Employee benefit expense |
631.500 |
578.600 |
604.000 |
|
|
CSR expenditure |
0.800 |
0.200 |
0.000 |
|
|
Other expenses |
1114.800 |
1160.600 |
1158.000 |
|
|
TOTAL |
3156.500 |
3125.000 |
3494.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
464.200 |
497.800 |
435.500 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
84.400 |
90.700 |
99.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
379.800 |
407.100 |
336.400 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
106.600 |
121.100 |
141.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
273.200 |
286.000 |
194.900 |
|
|
|
|
|
|
|
Less |
TAX |
95.600 |
59.700 |
(37.700) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
177.600 |
226.300 |
232.600 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
349.500 |
381.400 |
493.900 |
|
|
TOTAL EARNINGS |
349.500 |
381.400 |
493.900 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
577.400 |
536.200 |
734.800 |
|
|
Components and spare
parts |
0.000 |
0.000 |
13.000 |
|
|
Capital Goods |
26.400 |
12.100 |
0.000 |
|
|
TOTAL IMPORTS |
603.800 |
548.300 |
747.800 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
35.52 |
45.26 |
46.52 |
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 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
381.800 |
229.400 |
311.400 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
302.600 |
139.000 |
235.400 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
101.25 |
94.79 |
79.20 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.60 |
3.85 |
4.61 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
168.31 |
168.26 |
147.30 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.03 |
1.20 |
1.12 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.01 |
1.20 |
0.89 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.61 |
0.66 |
0.74 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.81 |
1.03 |
1.51 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.60 |
2.01 |
3.03 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.48 |
0.53 |
0.89 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.50 |
5.49 |
4.39 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
4.94 |
6.35 |
5.94 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.04 |
9.59 |
10.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
18.62 |
29.15 |
42.30 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.08 |
0.99 |
0.88 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.79 |
0.73 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.38 |
0.33 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
15.40 |
16.00 |
16.60 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.08 |
0.99 |
0.88 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
499.900 |
726.200 |
903.800 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
549.900 |
776.200 |
953.800 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
830.000 |
800.000 |
770.000 |
|
Total
borrowings |
830.000 |
800.000 |
770.000 |
|
Debt/Equity
ratio |
1.509 |
1.031 |
0.807 |
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 |
3918.600 |
3563.400 |
3596.500 |
|
|
0.000 |
(9.064) |
0.929 |
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 |
3918.600 |
3563.400 |
3596.500 |
|
Profit/ (Loss) |
232.600 |
226.300 |
177.600 |
|
|
5.94
% |
6.35
% |
4.94
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
NATURE OF OPERATIONS
Subject operates in the Chemical Industry and its products are mainly used for Industrial purpose having a wide range of application in various Industries.
STATE OF COMPANY’S AFFAIRS
India has emerged as
the fastest growing major economy in the world and improvement in India’s
economic fundamentals has accelerated in the year 2016-17 with the combined
impact of strong government reforms. The Company is working together for a
turnaround and on building the sustainable and long term future business. The
Company is in the process of improving the operational income through various
inter divisional efforts. There has been reduction in working capital and they
have succeeded in improving product margins and controlling selling, general
and administrative expenses. Across all business segments efforts are on for
price rationalization, winning long term customers and strategizing on
operations to reduce costs and overheads.
BUSINESS PROSPECTS
Sustainability is
core to their business. They are helping companies rethink operations and
business strategies to reduce use of natural resources and ensure long-term
viability. Increased demand for goods and services presents significant
opportunities for businesses across industries. Meeting that demand, while
ensuring the long-term vitality of businesses, communities and the environment,
creates both challenges and opportunities.
Their customers
can count on us to help tackle these complex problems to achieve sustainable
growth. With a commitment to water stewardship, they optimize product quality
and reduce operating costs for their customers while reducing their impact on
the environment. With a clear objective of achieving high levels of operating
performance and cost competitiveness, consolidation and growth they are focused
and prioritizing on accountability and inter functional collaboration towards
path to progress. All Divisions are putting their best to drive profitable
sales, pricing gains, margin improvement and people productivity. Executing
what has been planned is critical and hence they are striving towards perfect
alignment between the two aspects facilitating their movement to a rightful
place, which is a 'high performing, growth oriented, financially healthy and
market leading Company, creating value for their customers and their
shareholders every day, and seen as the best place for the best people.'
FACTORY AND SUPPLY CHAIN OPERATIONS
Competing in the
ever-changing and ever-expanding economy is essential for survival and has
become critical to an enterprise’s success. Managing the supply chain system
and the factory operations of the Company involves decision making that
promotes the above and implements quality practices and procedures that ensures
seamless information and material flow causing minimum hindrance to the
manufacturing process. It remains their endeavor to make strategic choices,
sharing of information and resources, co-ordination of logistics, and capacity
to optimize the cost-effective creation of value along the supply chain in
collaboration with their business partners. Some of the key achievements in the
year 2016-17 has been the outcome of enterprise and facility level commitment
to increasing the efficiency of their operations through actions which results
in greater environmental stewardship.
TRAINING AND DEVELOPMENT
To support the
ambitious growth plan laid by the Company, the Training and Development team
strives continually to prepare the Company’s manpower for future responsibilities
in terms of professional skills as well as business skills through several
training and development programs.
As far as
technical training programs are concerned, the Basic Training Program (BTPs)
was conducted for the WPS business for all new hires and so was the Online
Competency Test for all associates in WPS. For the other businesses, domain
specific technical training programs were conducted within specific business
divisions. To boost sales expertise and strengthen communication skills, global
standard training like Counselor Salesperson, Versatile Salesperson were
conducted in-house in combination with soft skill building program: Building
Effective Presentation and Communication Skills.
Additionally, in
order to ensure the right talent comes onboard at Nalco, a program on
Competency Based Interviewing was conducted for Hiring Managers to provide them
a robust methodology to go about selecting candidates based on competencies
desired. Programs to promote the Leadership Behaviors at Nalco were also
initiated in year 2016 -17 and more will be conducted in the coming year.
The team also
worked with the division and function leads in the organization to identify top
performers and high potential employees in their team and created a customized
talent development plan for each of them which includes training, coaching and
special cross functional or enterprise/division related projects for this
group. The goal is to ensure that they are able to retain and develop talent
within the organization for their future business growth.
OPERATIONS
In the year 2016-17, the
Company posted a turnover of INR 3596.700 Million and profit before tax was INR
273.700 Million. During the year, all divisions contributed towards improving
profitability of the business. They relooked at some of their customer and
product portfolios in terms of margins and also started moving away from low
margin businesses. Additional efforts were put in to develop high margin long
term opportunities which resulted in excellent growth both in revenue and
profit.
They continue to remain
committed towards improving their operations and utilize their expertise to
save water and energy and prolong equipment life at both the manufacturing
facilities in Konnagar (West Bengal) and Pirangut (Maharashtra).
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand from others |
770.000 |
800.000 |
|
Total |
770.000 |
800.000 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B14038954 |
10109094 |
ICICI BANK LIMITED |
28/03/2007 |
30/09/2009 |
01/06/2011 |
73000000.0 |
LANDMARKRACE COURCE
CIRCLEALKAPURIBARODAGJ390015IN |
|
2 |
B15096159 |
90253786 |
UNION BANK OFINDIA |
07/11/1997 |
07/02/2007 |
01/06/2011 |
68500000.0 |
INDUSTRIAL FINANCE
BRANCH1/1, CAMAC STREET, 1ST FLOORKOLKATAWB700016IN |
|
3 |
B13903794 |
90254700 |
ABN AMRO BANK N.
V. |
19/07/2005 |
17/08/2009 |
14/05/2011 |
108500000.0 |
AZIMGANJ HOUSE,7,
CARNAC STREET,KOLKATAWB700017IN |
CONTINGENT
LIABILITIES
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
|
|
|
|
Income Tax matters |
121.100 |
522.300 |
|
Sales Tax matters |
94.100 |
173.100 |
|
Excise Duty / Service Tax matters |
240.300 |
235.300 |
|
Other third party claims against loss on commissioning of water treatment and effluent treatment plants not acknowledged as debt and under litigation (excluding interest) |
168.400 |
168.400 |
|
Claim filed by an individual pending with the Hon'ble High Court of Kolkata (excluding interest) |
0.000 |
17.600 |
|
Total |
623.900 |
1116.700 |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Leasehold improvements
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 64.85 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.