|
|
|
MIRA INFORM REPORT
|
Report No. : |
494537 |
|
Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
CORVINE CHEMICALS AND PHARMACEUTICALS LIMITED (w.e.f. 26.05.2000) |
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|
Formerly Known As
: |
CORVINE CHEMICALS LIMITED CORVINE CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
Plot No 135-E, Kolhar, Industrial Area, Bidar – 585401, Karnataka |
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Tel. No.: |
91-848-2232204 |
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|
Country : |
India |
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|
Financials (as on)
: |
31.03.2016 |
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|
Date of
Incorporation : |
22.06.1992 |
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|
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Com. Reg. No.: |
08-013271 |
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Capital
Investment / Paid-up Capital : |
INR 94.500 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U85110KA1992PLC013271 |
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IEC No.: [Import-Export Code No.] |
Not Available |
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|
GSTN : [Goods & Service Tax
Registration No.] |
29AABCC4849D1ZO |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCC4849D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is primarily engaged in the manufacture of
chemicals, intermediates and bulk drugs. [Registered Activity] |
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No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 1188000 |
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|
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|
Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1992. The company manufactures fine chemicals, drug intermediates and other drugs. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. As per the financial of 2016, the company has reported a decline in its revenue as compared to the previous year but has maintained an average net profit margin of 5.71%. The company possesses healthy financial position marked by above average net worth base along with low debt balance sheet profile and modest liquidity position. 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Loans = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
20.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loans = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
20.11.2017 |
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
31-03-2016.
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 03.03.2018.
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.
LOCATIONS
|
Registered Office : |
Plot No 135-E, Kolhar, Industrial Area, Bidar – 585401, Karnataka,
India |
|
Tel. No.: |
91-848-2232204 |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office: |
Plot No. 735, Venkateswara Hills, Road No.3, Banjara Hills, Hyderabad
– 522234, Telangana India |
|
Tel. No.: |
91-40-23354928 |
|
Fax No.: |
91-40-23354929 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Manohar Gangaiah Bacha |
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Designation : |
Managing Director |
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Address : |
H.No-21, Canton Park, Pet Basheerabad, Village Ranga, Reddy District – 500015, Andhra Pradesh, India |
||||||||||||||||||||
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Date of Birth/Age : |
10.04.1937 |
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Qualification: |
B. Tech |
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Date of Appointment : |
10.12.2015 |
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PAN No.: |
ACEPB3081G |
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DIN No.: |
00456320 |
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Other Directorship:
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Name : |
Mr. Challa Subhash |
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Designation : |
Director |
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Address : |
17 Penderel Way Bulleen Victoria 3105 AU |
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Date of Birth/Age : |
10.08.1970 |
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Qualification: |
B. Tech |
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Date of Appointment : |
09.06.2008 |
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DIN No.: |
02379978 |
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Other Directorship:
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Name : |
Mr. Raji Reddy Kalva |
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Designation : |
Director |
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Address : |
8-3-168/B/13, Plot No.13, Siddhartha Nagar, Hyderabad - 500038, Telangana, India |
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Date of Birth/Age : |
10.02.1943 |
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Qualification: |
B.Tech |
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Date of Appointment : |
18.11.2012 |
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DIN No.: |
02572403 |
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Other Directorship:
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Name : |
Mr. Revanth Reddy Mahareddy |
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Designation : |
Whole Time Director |
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Address : |
Plot No.63, MLA, MP Colony Road No:10C, Jubilee Hills, Hyderabad – 500033, Telangana, India |
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Date of Birth/Age : |
18.12.1988 |
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Qualification: |
B. Tech |
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Date of Appointment : |
07.09.2016 |
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PAN No.: |
BOTPM5401F |
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DIN No.: |
07376081 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
M Shobha Rani |
|
105000 |
|
B Latha |
|
105000 |
|
G Manjuvani |
|
105000 |
|
B Srinivas |
|
420000 |
|
B Annapurna |
|
420000 |
|
B Rama Devi |
|
420000 |
|
B Manohar |
|
1155000 |
|
Ch Laxmi |
|
630000 |
|
Ch Bhanu Prasad |
|
630000 |
|
Ch Lalitha |
|
630000 |
|
M Kalpana Reddy |
|
3150000 |
|
Ch Subhash |
|
630000 |
|
J Sandhya |
|
630000 |
|
B Goutham |
|
420000 |
|
Total |
|
9450000 |
AS ON 06.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
52.22 |
|
Public/Other than promoters - [Individual/Hindu Undivided Family – Indian] |
47.78 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the manufacture of
chemicals, intermediates and bulk drugs. [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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
G Rama Mohan and Company Chartered accountants |
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Address : |
S-1, Phase 1, Avanthi Nagar, Hyderabad, Telangana, India |
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PAN No.: |
ACAPG4099F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company: |
Prabhava Organics Private Limited, India [CIN NO.: U51496TG1986PTC006166] |
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CAPITAL STRUCTURE
AS ON 06.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9450000 |
Equity Shares |
INR 10/- each |
INR 94.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
94.500 |
94.500 |
94.500 |
|
(b) Reserves and Surplus |
321.412 |
305.189 |
265.360 |
|
(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) |
415.912 |
399.689 |
359.860 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.467 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
3.869 |
4.164 |
5.099 |
|
(c) Other long-term
liabilities |
1.167 |
1.303 |
9.327 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
6.503 |
5.467 |
14.426 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
113.829 |
208.797 |
172.815 |
|
(b) Trade
payables |
41.627 |
295.687 |
301.894 |
|
(c) Other current
liabilities |
12.149 |
18.249 |
10.606 |
|
(d) Short-term
provisions |
19.658 |
22.875 |
22.836 |
|
Total Current
Liabilities (4) |
187.263 |
545.608 |
508.151 |
|
|
|
|
|
|
TOTAL |
609.678 |
950.764 |
882.437 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
72.363 |
74.730 |
75.118 |
|
(ii)
Intangible Assets |
0.429 |
0.572 |
0.715 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
128.556 |
128.556 |
128.556 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
2.600 |
2.604 |
28.796 |
|
(e) Other Non-current
assets |
12.095 |
17.424 |
12.485 |
|
Total Non-Current
Assets |
216.043 |
223.886 |
245.670 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
123.092 |
161.328 |
175.319 |
|
(c) Trade
receivables |
165.500 |
362.180 |
284.074 |
|
(d) Cash and
bank balances |
5.534 |
36.867 |
56.286 |
|
(e)
Short-term loans and advances |
99.509 |
166.503 |
121.088 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
393.635 |
726.878 |
636.767 |
|
|
|
|
|
|
TOTAL |
609.678 |
950.764 |
882.437 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
922.233 |
1408.539 |
1196.401 |
|
|
Other Income |
3.995 |
3.458 |
2.958 |
|
|
TOTAL |
926.228 |
1411.997 |
1199.359 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
552.671 |
909.523 |
739.522 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(24.596) |
11.440 |
26.846 |
|
|
Employee benefit expense |
32.784 |
31.634 |
25.433 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
1.902 |
5.428 |
5.484 |
|
|
Other expenses |
244.996 |
326.467 |
277.549 |
|
|
Exceptional items before tax |
0.075 |
15.760 |
0.046 |
|
|
TOTAL |
807.832 |
1300.252 |
1074.880 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
118.396 |
111.745 |
124.479 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
26.661 |
29.371 |
42.572 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
91.735 |
82.374 |
81.907 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
11.781 |
11.429 |
16.765 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
79.954 |
70.945 |
65.142 |
|
|
|
|
|
|
|
Less |
TAX |
27.334 |
21.166 |
22.715 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
52.620 |
49.779 |
42.427 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic
|
5.57 |
5.27 |
4.49 |
|
|
Diluted |
5.57 |
5.27 |
4.49 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
168.620 |
(6.221) |
171.338 |
|
Net cash flows from (used in) operating activities |
129.222 |
(7.791) |
180.754 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
65.50 |
93.85 |
86.67 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
5.57 |
3.89 |
4.21 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
27.49 |
118.66 |
149.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.96 |
0.69 |
0.71 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.63 |
1.48 |
1.64 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.31 |
0.57 |
0.58 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.28 |
0.52 |
0.48 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.45 |
1.37 |
1.41 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.18 |
0.19 |
0.21 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.44 |
3.80 |
2.92 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
5.71 |
3.53 |
3.55 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.63 |
5.24 |
4.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
12.65 |
12.45 |
11.79 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.10 |
1.33 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
1.44 |
1.04 |
0.91 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.68 |
0.42 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.22 |
2.21 |
1.83 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.10 |
1.33 |
1.25 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
94.500 |
94.500 |
94.500 |
|
Reserves & Surplus |
265.360 |
305.189 |
321.412 |
|
Net
worth |
359.860 |
399.689 |
415.912 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
1.467 |
|
Short term borrowings |
172.815 |
208.797 |
113.829 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
172.815 |
208.797 |
115.296 |
|
Debt/Equity
ratio |
0.480 |
0.522 |
0.277 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1196.401 |
1408.539 |
922.233 |
|
|
0.000 |
17.731 |
(34.526) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1196.401 |
1408.539 |
922.233 |
|
Profit/ (Loss) |
42.427 |
49.779 |
52.620 |
|
|
3.55
% |
3.53
% |
5.71
% |
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 |
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 |
No |
|
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 |
GENERAL INFORMATION: [As
On 31.03.2016]
The Company is primarily engaged in the manufacture of chemicals, intermediates and bulk drugs. The Company is a public limited and closely held Company.
OPERATIONS: [As On
31.03.2016]
During the year, the Company recorded a total income of INR 988.430 million as against INR 1490.023 million during previous year. The net profit stood at INR 52.620 million, as against previous year's net profit of INR 49.779 million. The Company is making efforts to achieve satisfactory growth during the next financial year and confident in this regard.
FUTURE OUTLOOK: [As
On 31.03.2016]
The Board of Directors are quite optimistic about the future prospects of the company and the company is making efforts to explore the export market to other countries besides USA and hopeful of achieving good export turnover in the future. The Directors anticipate to achieve a turnover of INR 1500.000 million during the year 2016-17.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
C54185251 |
80017792 |
STATE BANK OF HYDERABAD |
22/12/1999 |
19/05/2015 |
780000000.0 |
OVERSEAS BRANCH6-3-652, " KAUTILYA", SOMAJIGUDA, HYDERABAD – 500082, TELANGANA, INDIA |
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Equipment
·
Factory Equipment
·
Furniture and Fixture
·
Computer Equipment
·
Vehicles
·
Motor Vehicles
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 65.10 |
|
|
1 |
INR 79.59 |
|
Euro |
1 |
INR 90.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
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.