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MIRA INFORM REPORT
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Report No. : |
498892 |
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Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
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Name : |
GHARDA CHEMICALS LIMITED |
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Registered
Office : |
48, Hill Road, Bandra (West), Mumbai – 400050, Maharashtra |
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Tel. No.: |
91-22-66265600 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
06.03.1967 |
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Com. Reg. No.: |
11-013688 |
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Capital
Investment / Paid-up Capital : |
INR 6.451 Million |
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CIN No.: [Company Identification
No.] |
U24110MH1967PLC013688 |
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IEC No.: [Import-Export
Code No.] |
0388080680 |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACG1255E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufactures and deals in agro chemical products, pigments
and polymers. [Registered
Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1967. It is a subsidiary of
Gharda Medical and Advanced Technologies Foundation. The company is a manufacturer of dyestuffs, pesticides, veterinary
drugs and polymers. As per the financial records of 2017, the company has achieved 15.25%
growth in its revenue as compared to the previous year’s revenue and has
earned a favourable profitability position. The rating takes into consideration the strong financial position of
the company marked by robust net worth base along with negligible debt level
and healthy liquidity position. Rating takes into consideration the company’s sound Earnings Per Share
(EPS) of INR 34050.07 as against its Face value (FV) of INR 100. Business is active. Payment seems to be regular. 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 = AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
29.03.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest
credit risk. |
|
Date |
29.03.2017 |
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 20.03.2018
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 (91-22-66265600)
LOCATIONS
|
Registered / Head Office : |
48, Hill Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
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Tel. No.: |
91-22-66265600/33065600 (30 lines) |
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Fax No.: |
91-22-26404224 |
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E-Mail : |
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Website : |
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Branch Office : |
Behind ST Stephens School, Village Prabhat, Zirakpur District-Patiala-140015, Punjab, India |
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Group European Office : |
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Tel. No.: |
+44 -208-6554103 |
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Fax No.: |
+44-208-6554102 |
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Group U.S Office : |
660, Newtobn, |
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Tel. No.: |
+1 -215-9689474 |
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Fax No.: |
+1 -215-9689474 |
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|
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Factory 1 : |
Dombivali Plant: B-27, Phase I, MIDC, Dombivli (East), District Thane – 421203, Maharashtra, India |
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Tel. No.: |
91-251-2803380/ 86 |
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Fax No.: |
91-251-2430581/ 2446363 |
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E-Mail : |
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Factory 2 : |
Lote Plant D-1/2, MIDC, Lote Parshuram, Taluka – Khed, District – Ratnagiri, Maharashtra, India |
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Tel. No.: |
91-2356-272252 / 254 /189 |
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Fax No.: |
91-2356-272190 |
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E-Mail : |
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Factory 3 : |
Panoli Plant: Plot No. 3525 - 27 GIDC Industrial Estate, Panoli – 394116, District – Bharuch, Gujarat, India |
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Tel. No.: |
91- 2646-272575/ 272576 / 272186 |
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Fax No.: |
91-2646-272141 |
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E-Mail : |
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Factory 4 : |
Ankleshwar Plant Post Box No. 90, Plot No. 805-806, GIDC Estate, Ankleshwar – 393002, Gujarat, India |
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Tel. No.: |
91-2646-222271/ 251472/ 250305 |
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Fax No.: |
91-2646-250116 |
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E-Mail : |
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Factory 5 : |
Phase II Industrial Estate, Samba-184121, |
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Overseas Office : |
Located at:
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DIRECTORS
AS ON 31.03.2017
|
Name : |
Dr. Keki Hormusji Gharda |
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Designation : |
Managing Director |
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Address : |
48 Hill Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
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Date of Birth/Age : |
25.09.1929 |
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Date of Appointment : |
06.03.1967 |
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PAN No.: |
AACPG3153E |
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DIN No.: |
00437172 |
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Other Directorship:
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Name : |
Percy Rutton Kavasmaneck |
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Designation : |
Whole-time Director |
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Address : |
134, Olivera Way, Palm Bch Grdns, Florida 33418, US |
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Date of Appointment : |
06.05.2017 |
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DIN No.: |
07778047 |
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Other Directorship:
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Name : |
Mrs. Almitra Hoshang Patel |
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Designation : |
Director |
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Address : |
50 Kothnur, Bagalpur Road, Bangalore- 560077, Karnataka, India |
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Date of Birth/Age : |
01.03.1936 |
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Date of Appointment : |
13.12.2007 |
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DIN No.: |
00960457 |
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Other Directorship:
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Name : |
Mr. Dhananjay Thakorbhai Desai |
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Designation : |
Director |
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Address : |
Nakshatra 3rd Floor, Vajifdar Street, Halar, Valsad-396001, Gujarat, India |
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Date of Birth/Age : |
23.08.1942 |
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Date of Appointment : |
13.08.2007 |
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PAN No.: |
ASHPS6428B |
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DIN No.: |
00049574 |
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Other Directorship:
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Name : |
Mr. Diwakar Katapadikar Shenoy |
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Designation : |
Whole Time Director |
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Address : |
1004, Awesome Heights, Thunga Village, Andheri, Mumbai-400072, Maharashtra, India |
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Date of Birth/Age : |
23.10.1962 |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
05155840 |
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Name : |
Mr. Padmanabh Ramchandra Barpande |
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Designation : |
Director |
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Address : |
Saubhagya Society, Block 51, 5th Floor, A - Wing, Jeevan Vikas Kendra Marg, Andheri (East), Mumbai - 400069, Maharashtra, India |
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Date of Appointment : |
29.09.2014 |
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DIN No.: |
00016214 |
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Other Directorship:
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Name : |
Mr. Dwarko Topandas Khilnani |
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Designation : |
Director |
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Address : |
6/21, Borla Soct, Dr. C. G. Road, Chembur, Mumbai - 400074, Maharashtra, India |
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Date of Appointment : |
29.09.2014 |
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DIN No.: |
01824655 |
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Other Directorship:
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Name : |
Mr. Shivkumar Dhalumal Israni |
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Designation : |
Director |
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Address : |
24, Sukhmani - A, 4th Floor, Bomanji Petit Road, Warden Road, Mumbai - 400036, Maharashtra, India |
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Date of Appointment : |
29.09.2014 |
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DIN No.: |
00125532 |
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Other Directorship:
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Name : |
Mr. Swaminathan Sivram |
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Designation : |
Director |
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Address : |
Apartment No. 10 , Gulmohar Glory-5 Gulmohar Park ITI Road, Aundh, Pune- 411007, Maharashtra, India |
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Date of Appointment : |
06.05.2017 |
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DIN No.: |
00009900 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Michael Arumugam Raj |
|
Designation : |
Company Secretary
|
|
Address : |
B2 Greenfield Chs Lady Fatima Road Poinsur, Kandivali, Mumbai-400067,
Maharashtra, India |
|
Date of Birth/Age : |
26.11.1967 |
|
Date of Appointment : |
16.11.2009 |
|
Pan No.: |
ADEPA1413G |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 22.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
57.23 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
42.26 |
|
Public/Other than promoters - Body corporate |
0.51 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures and deals in agro chemical products, pigments
and polymers. [Registered
Activity] |
||||
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|
||||
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Products / Services
: |
|
||||
|
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|
||||
|
Brand Names : |
Not Available |
||||
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|
||||
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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|
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||||
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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 : |
Information denied by the management |
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Bankers : |
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Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
Tower 3, 27-32nd Floor, India Bulls Finance Centre Elphinstone Mill Compound, Senapati Bapat Marg, Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
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|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
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|
|
|
Subsidiary company: |
|
|
|
|
|
Joint venture: |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
INR 100/- each |
INR 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64514 |
Equity Shares |
INR 100/- each |
INR 6.451 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
6.451 |
6.451 |
6.451 |
|
(b) Reserves and Surplus |
16692.161 |
14930.046 |
13187.769 |
|
(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) |
16698.612 |
14936.497 |
13194.220 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
362.815 |
1458.643 |
1691.914 |
|
(b) Trade
payables |
2492.437 |
1942.455 |
2237.605 |
|
(c) Other
current liabilities |
1144.997 |
929.411 |
928.031 |
|
(d) Short-term
provisions |
416.003 |
532.006 |
499.315 |
|
Total Current
Liabilities (4) |
4416.252 |
4862.515 |
5356.865 |
|
|
|
|
|
|
TOTAL |
21114.864 |
19799.012 |
18551.085 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4658.023 |
3580.923 |
3185.603 |
|
(ii)
Intangible Assets |
266.169 |
154.173 |
115.152 |
|
(iii) Tangible assets
capital work-in-progress |
1959.564 |
2116.027 |
1454.468 |
|
(iv)
Intangible assets under development |
152.394 |
143.726 |
100.032 |
|
(b) Non-current Investments |
89.767 |
92.189 |
92.567 |
|
(c) Deferred tax assets (net) |
164.802 |
117.549 |
76.952 |
|
(d)
Long-term loans and advances |
526.320 |
491.859 |
418.981 |
|
(e) Other
Non-current assets |
21.045 |
19.188 |
0.000 |
|
Total Non-Current
Assets |
7838.084 |
6715.634 |
5443.755 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
24.495 |
71.017 |
64.000 |
|
(b)
Inventories |
5820.210 |
6542.684 |
6965.242 |
|
(c) Trade
receivables |
5000.660 |
4768.467 |
4399.337 |
|
(d) Cash and
bank balances |
660.387 |
408.847 |
488.615 |
|
(e)
Short-term loans and advances |
1664.849 |
1244.080 |
643.898 |
|
(f) Other
current assets |
106.179 |
48.283 |
546.238 |
|
Total
Current Assets |
13276.780 |
13083.378 |
13107.330 |
|
|
|
|
|
|
TOTAL |
21114.864 |
19799.012 |
18551.085 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
17391.435 |
15089.803 |
16051.221 |
|
|
Other Income |
191.060 |
371.965 |
392.550 |
|
|
TOTAL |
17582.495 |
15461.768 |
16443.771 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6233.659 |
5542.472 |
8384.017 |
|
|
Purchases of
Stock-in-Trade |
635.954 |
444.866 |
862.069 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1121.832 |
408.621 |
(2019.677) |
|
|
Employee benefit expense |
1803.947 |
1607.159 |
1508.987 |
|
|
CSR expenditure |
57.640 |
47.453 |
38.653 |
|
|
Other expenses |
4058.211 |
3786.123 |
3814.408 |
|
|
TOTAL |
13911.243 |
11836.694 |
12588.457 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
3671.252 |
3625.074 |
3855.314 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
43.569 |
84.950 |
86.478 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3627.683 |
3540.124 |
3768.836 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
716.431 |
692.650 |
647.777 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2911.252 |
2847.474 |
3121.059 |
|
|
|
|
|
|
|
Less |
TAX |
714.546 |
877.011 |
782.618 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2196.706 |
1970.463 |
2338.441 |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
4244.732 |
4007.212 |
3323.832 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Dividend (Interim and Final) |
224.037 |
193.542 |
129.028 |
|
|
Tax on Dividend |
72.234 |
39.401 |
26.033 |
|
|
Transfer to General Reserve |
1500.000 |
1500.000 |
1500.000 |
|
|
Balance
Carried to the B/S |
4645.167 |
4244.732 |
4007.212 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
8625.048 |
9117.499 |
|
|
TOTAL EARNINGS |
NA |
8625.048 |
9117.499 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
1477.762 |
2687.240 |
|
|
Capital Goods |
NA |
24.258 |
43.748 |
|
|
Stores |
NA |
9.739 |
1.765 |
|
|
TOTAL IMPORTS |
NA |
1511.759 |
2732.753 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
34050.07 |
30543.18 |
36247.03 |
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 |
4492.024 |
3132.601 |
1797.429 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
3391.795 |
2292.217 |
1079.204 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
104.95 |
115.34 |
100.04 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.48 |
3.16 |
3.65 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
132.43 |
118.42 |
88.33 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.63 |
0.55 |
0.55 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.52 |
0.60 |
0.79 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.21 |
0.25 |
0.29 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.02 |
0.10 |
0.13 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.26 |
0.33 |
0.41 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.42 |
0.40 |
0.37 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
84.26 |
42.67 |
44.58 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
12.63 |
13.06 |
14.57 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
10.40 |
9.95 |
12.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.16 |
13.19 |
17.72 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.01 |
2.69 |
2.45 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.69 |
1.35 |
1.15 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.79 |
0.75 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
56.24 |
226.11 |
262.27 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.01 |
2.69 |
2.45 |
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 |
6.451 |
6.451 |
6.451 |
|
Reserves & Surplus |
13187.769 |
14930.046 |
16692.161 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
13194.220 |
14936.497 |
16698.612 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1691.914 |
1458.643 |
362.815 |
|
Total
borrowings |
1691.914 |
1458.643 |
362.815 |
|
Debt/Equity
ratio |
0.128 |
0.098 |
0.022 |
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 |
16051.221 |
15089.803 |
17391.435 |
|
|
|
(5.990) |
15.253 |
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 |
16051.221 |
15089.803 |
17391.435 |
|
Profit/ (Loss) |
2338.441 |
1970.463 |
2196.706 |
|
|
14.57
% |
13.06
% |
12.63
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
6.451 |
6.451 |
|
(b) Reserves and Surplus |
|
17859.405 |
16019.801 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
17865.856 |
16026.252 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
362.883 |
1458.643 |
|
(b) Trade
payables |
|
2726.071 |
2066.536 |
|
(c) Other
current liabilities |
|
1188.514 |
964.149 |
|
(d) Short-term
provisions |
|
458.835 |
573.959 |
|
Total Current
Liabilities (4) |
|
4736.303 |
5063.287 |
|
|
|
|
|
|
TOTAL |
|
22602.159 |
21089.539 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
4857.861 |
3750.499 |
|
(ii)
Intangible Assets |
|
268.263 |
156.458 |
|
(iii) Tangible assets
capital work-in-progress |
|
2036.139 |
2131.087 |
|
(iv)
Intangible assets under development |
|
152.394 |
143.726 |
|
(b) Non-current Investments |
|
8.646 |
10.205 |
|
(c) Deferred tax assets (net) |
|
215.246 |
165.844 |
|
(d)
Long-term loans and advances |
|
643.648 |
620.466 |
|
(e) Other
Non-current assets |
|
21.045 |
19.142 |
|
Total Non-Current
Assets |
|
8203.242 |
6997.427 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
25.694 |
74.794 |
|
(b)
Inventories |
|
6205.062 |
6982.151 |
|
(c) Trade
receivables |
|
5618.023 |
5226.076 |
|
(d) Cash and
bank balances |
|
711.356 |
460.210 |
|
(e)
Short-term loans and advances |
|
1733.425 |
1301.047 |
|
(f) Other
current assets |
|
105.357 |
47.834 |
|
Total
Current Assets |
|
14398.917 |
14092.112 |
|
|
|
|
|
|
TOTAL |
|
22602.159 |
21089.539 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
19378.019 |
16689.305 |
|
|
Other Income |
|
198.659 |
375.762 |
|
|
TOTAL |
|
19576.678 |
17065.067 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
7226.998 |
6296.704 |
|
|
Purchases of
Stock-in-Trade |
|
730.872 |
556.398 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
1201.929 |
364.791 |
|
|
Employee benefit expense |
|
2072.924 |
1872.851 |
|
|
CSR expenditure |
|
63.208 |
48.183 |
|
|
Other expenses |
|
4406.867 |
4104.455 |
|
|
TOTAL |
|
15702.798 |
13243.382 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
3873.880 |
3821.685 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
49.093 |
92.220 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3824.787 |
3729.465 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
774.315 |
763.889 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
3050.472 |
2965.576 |
|
|
|
|
|
|
|
Less |
TAX |
|
772.433 |
923.843 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
2278.039 |
2041.733 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
35310.77 |
31647.91 |
LEGAL
CASES
CASE DETAILS
BENCH:-BOMBAY
|
Presentation
Date:- |
23/02/2017 |
||||||||
|
Lodging No.:- |
ITXAL/581/2017 |
Filing Date:- |
23/02/2017 |
Reg. No.:- |
ITXA/1136/2017 |
Reg. Date:- |
08/08/2017 |
||
|
Petitioner:- |
PR. COMMISSIONER OF
INCOME TAX 12 MUMBAI |
|
Respondent:- |
GHARDA CHEMICALS
LIMITED |
|
Petn.Adv.:- |
ARVIND PINTO (I583) |
|
Resp.Adv.:- |
0(0) |
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Next Date:- |
20/04/2018 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Coram:- |
ACCORDING TO SITTING LIST |
|
ACCORDING TO SITTING LIST |
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
CASE DETAILS
BENCH:-BOMBAY
|
Presentation
Date:- |
17/01/2017 |
|||||||
|
Lodging No.:- |
ITXAL/186/2017 |
Filing Date:- |
17/01/2017 |
Reg. No.:- |
ITXA/553/2017 |
Reg. Date:- |
31/03/2017 |
|
|
Petitioner:- |
PR. COMMISSIONER OF
INCOME TAX, CENTRAL-2 |
|
Respondent:- |
GHARDA CHEMICALS
LIMITED |
|
Petn.Adv.:- |
PADMA DIVAKAR (I3287) |
|
Resp.Adv.:- |
VASANTI B PATEL (I4796) |
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Next Date:- |
21/03/2018 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Coram:- |
ACCORDING TO SITTING LIST |
|
ACCORDING TO SITTING LIST |
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
CASE DETAILS
BENCH:-BOMBAY
|
Presentation
Date:- |
17/01/2017 |
|||||||
|
Lodging No.:- |
ITXAL/182/2017 |
Filing Date:- |
17/01/2017 |
Reg. No.:- |
ITXA/1000/2017 |
Reg. Date:- |
07/07/2017 |
|
|
Petitioner:- |
PRINCIPAL COMMISSIONER
OF INCOME TAX 12 MUMBAI |
|
Respondent:- |
GHARDA CHEMICALS
LIMITED |
|
Petn.Adv.:- |
ARVIND PINTO (I583) |
|
Resp.Adv.:- |
VASANTI B PATEL (I4796) |
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Next Date:- |
13/04/2018 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Coram:- |
ACCORDING TO SITTING LIST |
|
ACCORDING TO SITTING LIST |
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
CASE DETAILS
BENCH:-BOMBAY
|
Presentation
Date:- |
17/01/2017 |
|||||||
|
Lodging No.:- |
ITXAL/145/2017 |
Filing Date:- |
17/01/2017 |
Reg. No.:- |
ITXA/527/2017 |
Reg. Date:- |
24/03/2017 |
|
|
Petitioner:- |
PRINCIPAL COMMISSIONER
OF INCOME TAX-12,MUMBAI |
|
Respondent:- |
GHARDA CHEMICALS
LIMITED |
|
Petn.Adv.:- |
ARVIND PINTO (I583) |
|
Resp.Adv.:- |
VASANTI B PATEL (I4796) |
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Next Date:- |
20/03/2018 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Coram:- |
ACCORDING TO SITTING LIST |
|
ACCORDING TO SITTING LIST |
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by info
agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 5/6, Jer Mansion,
W P Varde Road, Off Turner Road, Bandra (West), Mumbai-400050, Maharashtra,
India to the present address w.e.f. 11.10.2010.
CORPORATE INFORMATION
Subject established in 1967, is an unlisted public limited company incorporated in India. Its holding company is Gharda Medical and Advanced Technologies Foundation. The registered office of the Company is at 48, Hill Road, Bandra (West), Mumbai 400 050 and its manufacturing units are located in the districts of Thane and Ratnagiri (Maharashtra State), Bharuch (Gujarat State) and in Samba (Jammu and Kashmir State).
The Company manufactures and deals in agro chemical products, pigments and polymers.
The Company’s standalone financial statements include the financial information in respect of Gharda Investment Syndicate, an unincorporated entity, which prior to the transition date, held 44% in Company’s now wholly owned subsidiary, Gujrat Insecticides Limited. The ownership of the said shares were transferred in the name of the Company prior to transition date. The Company holds 95% ownership of Gharda Investment Syndicate with 100% share in Profits/(Losses). The financial information of Gharda Investment Syndicate is unaudited and is approved by the Management of the Company for consolidation. Gharda Investment Syndicate is immaterial to the Company.
PERFORMANCE REVIEW:
Total revenue from operations for the year ended 31st March, 2017 is INR 18380.000 Million reflecting an increase of 16% as compared to the previous year’s turnover of INR 15860.000 Million. Profit before tax has shown an increase from INR 2850.000 Million to INR 2910.000 Million an increase of 2%.
In the domestic market, in spite of better monsoon forecast, the rainfall was not uniform across India. Delayed onset of monsoon in some areas and dry spells and excess rainfall in other areas has impacted the business.
The situation was not encouraging in respect of the overseas market too. High distributor inventory in many countries, commodity realization decline, currency devaluation, etc. had adverse impact during the year. However, USA volumes was very encouraging during the year. Despite of the challenges faced during the year, the company reported higher turnover during the year 2016-17.
CURRENT YEAR’S OUTLOOK:-
The year started on an optimistic note in 2017, with forecast of better monsoon and good initial rainfall. This will enhance agricultural output and therefore more demand for our products.
The sales for the period April 2017 to July 2017 is INR 7010.000 Million as against INR 5700.000 Million during the same period of the previous year.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
Z00003349 |
80001625 |
CANARA BANK |
08/10/1993 |
26/04/2006 |
- |
1540000000.0 |
CORPORATE SERVICE
BRANCH, DALAMAL TOWERS 1ST FLOORNARIMAN POINTMUMBAIMH400021IN |
|
2 |
Z00019621 |
80006723 |
CENTRAL BANK OF
INDIA |
12/04/1993 |
20/11/2006 |
- |
2900000000.0 |
CORPORATE FINANCE
BRANCHM.G. ROAD, FORT,MUMBAIMH400023IN |
|
3 |
Y10331440 |
90228649 |
CANARA BANK |
12/04/1993 |
26/07/2004 |
- |
483900000.0 |
HILL ROADBANDRA
WESTMUMBAIMH400050IN |
|
4 |
A25652678 |
90227090 |
CANARA BANK (LEAD
BANK) |
12/04/1933 |
10/10/2007 |
- |
3400000000.0 |
CSB, DALAMAL
TOWER, NARIMAN POINT, CBI, BOB, UCOAND KVB MEMBER BANKSMUBMAIMH400021IN |
|
5 |
A88709357 |
10107898 |
STATE BANK OF
INDIA |
21/05/2008 |
- |
26/06/2010 |
910000000.0 |
STATE BANK BHAVAN,
MADAME CAMA ROADNARIMAN POINTMUMBAIMH400021IN |
|
6 |
Y10332400 |
90229609 |
ICICI LIMITED |
27/09/2000 |
- |
01/01/2005 |
330000000.0 |
ICICI TOWERS;
BANDRA KURLA COMPLEXBANDRA EASTMUMBAIMH400051IN |
|
7 |
Y10331964 |
90229173 |
CENTRAL BANK OF
INDIA |
27/02/1997 |
- |
12/03/2003 |
62500000.0 |
MUMBAI MAIN
OFFICEM. G. ROAD; FORTMUMBAIMH400023IN |
|
8 |
Y10330767 |
90227976 |
CENTRAL BANK OF
INDIA |
29/04/1987 |
- |
12/03/2003 |
4000000.0 |
FOREIGN BILLS DEPT.;STANDARD
BLDG.;MUMBAIMH400023IN |
|
9 |
Y10332522 |
90229731 |
CENTRAL BANK OF
INDIA |
06/12/2001 |
- |
12/03/2003 |
137500000.0 |
CORPORATE FINANCE
BRANCHM.G. ROAD; FORTMUMBAIMH400023IN |
|
10 |
Y10331033 |
90228242 |
CENTRAL BANK OF
INDIA |
13/12/1989 |
08/10/1993 |
12/03/2003 |
8750000.0 |
BOMBAY MAIN
OFFICEM.G. ROADBOMBAYMH400023IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
Intangible assets
- Computer software
- Licenses and franchise
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 65.04 |
|
|
1 |
INR 90.56 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
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.