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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

497814

Report Date :

21.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SHIVA PHARMACHEM LIMITED (w.e.f. 04.07.2011)

 

 

Formerly Known As :

SPPL INDIA LIMITED (w.e.f. 01.04.2011)

 

SHIVA PHARMACHEM LIMITED (w.e.f. 30.06.2010)

 

SHIVA PHARMACHEM PRIVATE LIMITED

 

 

Registered Office :

9th Floor, ABS Towers, Old Padra Road, Vadodara – 390007, Gujarat

Tel. No.:

91-265- 2321418 / 2335432 

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

18.03.1999

 

 

Com. Reg. No.:

04-035615

 

 

Capital Investment / Paid-up Capital :

INR 69.502 Million

 

 

CIN No.:

[Company Identification No.]

U24231GJ1999PLC035615

 

 

IEC No.:

[Import-Export Code No.]

3401001213

 

 

TIN No.:

24192400557

 

 

CST No.:

24692400557

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAJCS3940B

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :
  • Subject is engaged in the business of all kinds of organic and inorganic chemicals. (Registered Activity)

 

  • Manufacturer and Exporter of agricultural chemicals acids, alky chloride, organic peroxides, fragrance and cosmetics. Pharmaceuticals etc. and also engaged in importer of raw materials. (Confirmed by Management)

 

 

No. of Employees :

500 (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

 

Maximum Credit Limit :

USD 3310000

 

 

Status :

Good

 

 

Payment Behaviour :

Usually correct 

 

 

Litigation :

Exists

 

 

Comments :

Subject is a subsidiary of “Tash Investment Private Limited”. The company was incorporated in the year 1999.

 

It is a manufacturer and exporter of Agricultural Chemical Acids, Organic Peroxides and Pharmaceutical.

 

For the financial year 2017, the revenue of the company has increased by 2.72% but has incurred operational loss.

 

The sound financial profile of the company is marked by strong networth base along with negligible debt level.

 

Rating takes into consideration strong financial and managerial support that the company receives from its holding entity backed by its well experienced management team.

 

The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters.

 

However, these rating strengths are partially offset by unfavourable gap between trade payables and trade receivables.

 

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 conditions.

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(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

CARE

Rating

Long Term Bank Facilities = BBB

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

10.04.2017

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities = A3+

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

10.04.2017

 

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 21.03.2018.

 

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 PARTED BY

 

Name :

Ms. Peenal

Designation :

Admin Executive

Contact No.:

91-265-2321418

Date :

19.03.2018

 

 

LOCATIONS

 

Registered Office :

9th Floor, ABS Towers, Old Padra Road, Vadodara – 390007, Gujarat, India

Tel. No.:

91-265-2321418 / 2335432 

Mobile No.:

91-9824443510 (Mr. Chirag Patel)

Fax No.:

91-265-2357238

E-Mail :

info@shivapharmachem.com

accounts@shivapharmachem.com  

Website :

http://www.shivapharmachem.com

Location :

Owned

Locality:

Commercial cum Residential

 

 

Factory 1:

Block No. 588, Village-Luna, ECP Canal Road, Taluka - Padra,  District - Vadodara -391440, Gujarat, India

Tel. No.:

91-2662-221021/ 224360

Fax No.:

91-2662-223314

E-Mail :

inquiry@shivapharmachem.com

works@shivapharmachem.com

Area :

42000 Sq. Mtrs.

Location :

Owned

 

 

Factory 2:

Plot No. Z 88 and 88/4, Dahej SEZ, Dahej, Taluka Vagra, District Bharuch – 392130, Gujarat, India

Tel. No.:

91-265-2321418/2335432

Fax No.:

91-265-2357238

E-Mail :

projects@shivapharmachem.com

 

 

Sales Offices :

Located at

 

·         Kandla, Gujarat, India

·         Nariman Point, Mumbai, Maharashtra, India

 

 

USA Office :

One Alpine Way, Livingston, NJ 07039

Tel. No.:

973-535-6135

Fax No.:

973-535-6149

E-Mail :

ashah@shivapharmachem.com

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Vishal Rakesh Agrawal

Designation :

Managing Director

Address :

208-209, Ankodia Road, Khanpur, Sevasi Vadodara- 391101, Gujarat, India

Date of Birth/Age :

10.01.1974

Qualification :

Bech. Of Engg

Date of Appointment :

04.09.2015

DIN No.:

00056800

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24100GJ2013PTC078001

SHIVA PERFORMANCE MATERIALS PRIVATE LIMITED

23/12/2013

-

U24231GJ1999PLC035615

SHIVA PHARMACHEM LIMITED

04/09/2015

-

U45200MH2008PTC187521

JASPUR PROPERTIES PRIVATE LIMITED

14/10/2008

-

U51109MH2008PTC184043

UMA RETAIL PRIVATE LIMITED

26/06/2008

-

U65910GJ1989PTC012889

GEETGANGA INVESTMENT PRIVATE LIMITED

30/09/1999

-

U70102MH2007PTC174896

RODIN PROPERTIES PRIVATE LIMITED

10/10/2007

-

U70102MH2008PTC181148

MONET PROPERTIES PRIVATE LIMITED

17/05/2011

-

U72200GJ2004PTC044534

INDUSFACE PRIVATE LIMITED

30/09/2015

-

U72900GJ2011PTC067839

SES ENGINEERING PRIVATE LIMITED

16/11/2011

-

U74200GJ2012PTC073066

CONSULTEC SES ENGINEERING PRIVATE LIMITED

20/12/2012

-

 

 

Name :

Mr. Rahul Rakesh Agrawal

Designation :

Managing Director

Address :

206-207, Ankodia Road, Khanpur, Sevasi, Padra, Vadodara - 391101 , Gujarat, India

Date of Birth/Age :

04.03.1978

Qualification :

Bech. of Engg., MBA

Date of Appointment :

04.09.2015

DIN No.:

01226996

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24100GJ2013PTC078001

SHIVA PERFORMANCE MATERIALS PRIVATE LIMITED

23/12/2013

-

U24231GJ1999PLC035615

SHIVA PHARMACHEM LIMITED

04/09/2015

-

U45200MH2008PTC187521

JASPUR PROPERTIES PRIVATE LIMITED

14/10/2008

-

U51109MH2008PTC184043

UMA RETAIL PRIVATE LIMITED

26/06/2008

-

U65910GJ1989PTC012889

GEETGANGA INVESTMENT PRIVATE LIMITED

30/09/1999

-

U65993GJ1986PTC008516

TASH INVESTMENT PRIVATE LIMITED

30/09/1999

-

U70102MH2007PTC174896

RODIN PROPERTIES PRIVATE LIMITED

10/10/2007

-

U70102MH2008PTC181148

MONET PROPERTIES PRIVATE LIMITED

15/04/2008

-

U72900GJ2011PTC067839

SES ENGINEERING PRIVATE LIMITED

16/11/2011

-

U74200GJ2012PTC073066

CONSULTEC SES ENGINEERING PRIVATE LIMITED

20/12/2012

-

 

 

 

 

Name :

Mr. Rakesh Shivbhagwan Agrawal

Designation :

Whole time Director

Address :

No- 206-207, Ankodiya Road, Khanpur, Sevasi, Padra, Vadodara-391101, Gujarat, India

Date of Birth/Age :

07.08.1948

Qualification :

Bech. of Engg.

Date of Appointment :

01.01.2016

DIN No.:

00057955

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L17110GJ1935PLC000494

SHRI DINESH MILLS LIMITED

15/09/2011

-

L22219MH1991PLC059800

CONTROL PRINT LIMITED

30/10/2010

-

U17200GJ2017PLC099677

FERNWAY TEXTILES LIMITED

06/11/2017

-

U17301GJ2017PLC099607

FERNWAY TECHNOLOGIES LIMITED

30/10/2017

-

U24100GJ2013PTC078001

SHIVA PERFORMANCE MATERIALS PRIVATE LIMITED

23/12/2013

-

U24231GJ1999PLC035615

SHIVA PHARMACHEM LIMITED

01/01/2016

-

U45200MH2008PTC187521

JASPUR PROPERTIES PRIVATE LIMITED

14/10/2008

-

U65910GJ1989PTC012889

GEETGANGA INVESTMENT PRIVATE LIMITED

18/10/1989

-

U65993GJ1986PTC008516

TASH INVESTMENT PRIVATE LIMITED

28/02/1986

-

U70102MH2008PTC181148

MONET PROPERTIES PRIVATE LIMITED

17/05/2011

-

 

 

Name :

Mr. Ravishankar Balakoteswararao Kompalli

Designation :

Whole-Time Director

Address :

C 140, Nandanvan, Near Abhilasha JN, New Sama Road, Vadodara - 390008, Gujarat, India

Date of Appointment :

01.04.2015

DIN No.:

06458292

 

 

Name :

Mr. Jagmohan Manmohan Zalani

Designation :

Whole-Time Director

Address :

28 - Snow Pearls Society, Near Nandidham Society, Vasna Road, Vadodara - 390015, Gujarat, India

Date of Appointment :

01.04.2015

DIN No.:

07138481

 

 

Name :

Mrs. Uma Rakesh Agrawal

Designation :

Director

Address :

No- 206-207, Ankodiya Road, Khanpur, Sevasi, Padra, Vadodara-391101, Gujarat, India

Date of Birth/Age :

05.11.1952

Date of Appointment :

18.07.2014

DIN No.:

02968288

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24231GJ1999PLC035615

SHIVA PHARMACHEM LIMITED

18/07/2014

-

U65910GJ1989PTC012889

GEETGANGA INVESTMENT PRIVATE LIMITED

18/10/1989

-

U65993GJ1986PTC008516

TASH INVESTMENT PRIVATE LIMITED

01/06/1990

-

U67120MH1988PLC049858

ANKSHREE INVESTMENTS AND TRADING COMPANY LIMITED

01/09/1997

-

U92140MH2006PTC183067

RED EARTH ART GALLERIES PRIVATE LIMITED

20/03/2006

-

 

 

Name :

Mr. Dipak Shah Jayantilal

Designation :

Director

Address :

2, Khushnuma Society, Behind Ajanta Society, Ellora Park, Race Course, Vadodara - 390023, Gujarat, India

Date of Appointment :

28.03.2015

DIN No.:

05286517

 

 

Name :

Mr. Purshottamdas Dinkarrao Dhumal

Designation :

Director

Address :

14, Dhanushya-1, Near Chankaypuri Char Rasta, New Sama Road, Vadodara - 390008, Gujarat, India

Date of Appointment :

28.03.2015

DIN No.:

07138492

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24233GJ2015PTC082888

VR FINECHEM PRIVATE LIMITED

03/12/2016

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Tarang Haresh Maru

Designation :

Company Secretary

Address :

C-2 Dodsal Society, Opposite To R C Patel, Industrial Estate, Akota, Vadodara -  390007, Gujarat, India

Date of Appointment :

17.04.2014

PAN No:

APOPM0246F

 

 

Name :

Ms. Peenal

Designation :

Admin Executive

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

 

Tash Investment Private Limited, India

 

5870000

http://www.bseindia.com/include/images/clear.gifRakesh S Agrawal

 

270000

Vishal R Agrawalhttp://www.bseindia.com/include/images/clear.gif

 

270000

Rahul R Agrawal

 

270000

Uma R Agrawal

 

270000

Madhavi V Agrawal

 

100

Ruchika R Agrawal

 

100

Total

 

6950200

 

 

AS ON 30.09.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family – Indian)

15.54

Promoters (Body corporate)

84.46

Total 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :
  • Subject is engaged in the business of all kinds of organic and inorganic chemicals. (Registered Activity)

 

  • Manufacturer and Exporter of agricultural chemicals acids, alky chloride, organic peroxides, fragrance and cosmetics. Pharmaceuticals etc. and also engaged in importer of raw materials. (Confirmed by Management)

 

 

Products / Services :

ITC Code

Product/ Services Description

29159090

Pivaloyl Chloride

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Germany
  • United States of America
  • China
  • Japan
  • Singapore
  • France
  • Spain

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Japan

 

 

Terms :

 

Selling :

Cheque and Credit [30 Days] and NEFT / RTGS

 

 

Purchasing :

Cheque and Credit [30 Days] and NEFT / RTGS

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

Customers :

Wholesalers and End Users

 

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

No. of Employees :

500 (Approximately)

 

 

Bankers :

Bank Name:

Standard Chartered Bank

Branch:

Abhijeet II, Ground Floor, Near Mithakali Six Roads, Ahmedabad – 380009, Gujarat, India

Person Name (with Designation):

--

Contact Number:

91-79-39402424 (Customer Care)

Name of Account Holder:

--

Account Number:

--

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

--

Account Operation:

--

Remarks:

--
  • HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg Lower Parel (West), Mumbai-400013, Maharashtra, India
  • Yes bank limited, Nehru center, 9th floor, discovery of India, Dr. A.B. Road, Worli, Mumbai-400018, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2017

INR In Million

31.03.2016

INR In Million

LONG TERM BORROWINGS

 

 

Rupee term loans from banks

423.917

641.668

 

 

 

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks

1552.300

1489.354

Total

1976.217

2,131.022

 

Auditors :

 

Name :

Baxi Manish Akhilray

Chartered Accountants

Address :

1006, Ocean, Sarabhai Road, Near Genda Circle, Vadodara – 390023, Gujarat, India

PAN No.:

AAAFT4520A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:
  • Tash Investment Private Limited, India

[CIN NO.: U65993GJ1986PTC008516]

 

 

Subsidiary Companies:
  • Ses Engineering Private Limited
  • Shiva Pharmachem Ag
  • Shiva Pharmachem Inc
  • Ankshree Investments and Trading Company Limited
  • Sisley Properties LLP
  • Shiva Pharmachem International Inc.

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7000000

Equity Shares

INR 10/- each

INR 70.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

6950200

Equity Shares

INR 10/- each

INR 69.502 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

69.502

69.502

69.502

(b) Reserves and Surplus

1088.506

1183.339

1079.165

(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)

1158.008

1252.841

1148.667

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

686.533

911.048

784.927

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long-term liabilities

2.691

1.791

0.921

(d) long-term provisions

40.743

28.698

17.294

Total Non-current Liabilities (3)

729.967

941.537

803.142

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

1552.300

1489.354

1134.621

(b) Trade payables

290.043

423.778

314.462

(c) Other current liabilities

241.764

275.205

236.887

(d) Short-term provisions

135.511

123.474

82.428

Total Current Liabilities (4)

2219.618

2311.811

1768.398

 

 

 

 

TOTAL

4107.593

4506.189

3720.207

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1765.401

1572.764

1130.657

(ii) Intangible Assets

2.289

1.478

3.276

(iii) Tangible assets capital work-in-progress

59.335

260.196

539.940

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

126.146

126.146

8.390

(c) Deferred tax assets (net)

22.302

3.794

3.750

(d) Long-term loans and advances

14.134

14.269

97.558

(e) Other Non-current assets

77.257

47.216

6.013

Total Non-Current Assets

2066.864

2025.863

1789.584

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

559.110

505.954

384.844

(c) Trade receivables

1186.009

1188.769

980.308

(d) Cash and bank balances

21.745

417.676

192.172

(e) Short-term loans and advances

118.246

106.609

126.580

(f) Other current assets

155.619

261.318

246.719

Total Current Assets

2040.729

2480.326

1930.623

 

 

 

 

TOTAL

4107.593

4506.189

3720.207

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Revenue from operations

4219.667

4132.098

4690.197

 

Other Income

85.560

102.817

58.997

 

TOTAL

4305.227

4234.915

4749.194

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1943.837

1852.031

1769.830

 

Purchases of Stock-in-Trade

900.262

982.724

1756.103

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(0.137)

(145.517)

6.957

 

Employee benefit expense

338.902

284.813

155.166

 

CSR expenditure

3.070

0.000

0.000

 

Other expenses

640.117

610.673

532.004

 

Exceptional items

0.000

0.000

0.093

 

Extraordinary items

0.000

0.000

3.238

 

TOTAL

3826.051

3584.724

4223.391

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

479.176

650.191

525.803

 

 

 

 

 

Less

FINANCIAL EXPENSES

204.625

231.339

99.620

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

274.551

418.852

426.183

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

346.065

277.192

190.812

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(71.514)

141.660

235.371

 

 

 

 

 

Less

TAX

(18.508)

(0.044)

82.400

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

(53.006)

141.704

152.971

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(8.00)

20.00

22.00

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

241.763

275.204

196.835

Net cash flows from (used in) operations

460.761

896.463

1126.992

Net cash flows from (used in) operating activities

408.261

836.313

1044.592

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

[Sundry Debtors / Income * 365]

102.59

105.01

76.29

 

 

 

 

Account Receivables Turnover

[Income / Sunday Debtors]

3.56

3.48

4.78

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

37.22

54.57

32.55

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.86

1.29

1.37

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.26

0.35

0.31

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.77

0.78

0.74

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

2.14

2.14

1.84

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.92

1.85

1.54

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.58

1.46

1.46

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.34

2.81

5.28

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

PAT to Sales

((PAT / Sales) * 100)

%

(1.26)

3.43

3.26

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

(1.29)

3.14

4.11

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(4.58)

11.31

13.32

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.92

1.07

1.09

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.67

0.85

0.87

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.28

0.28

0.31

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

35.69

38.50

30.45

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.92

1.07

1.09

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

69.502

69.502

69.502

Reserves & Surplus

1079.165

1183.339

1088.506

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

1148.667

1252.841

1158.008

 

 

 

 

long-term borrowings

784.927

911.048

686.533

Short term borrowings

1134.621

1489.354

1552.300

Current maturities of long-term debts

196.835

275.204

241.763

Total borrowings

2116.383

2675.606

2480.596

Debt/Equity ratio

1.842

2.136

2.142

 

 

 

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

4690.197

4132.098

4219.667

 

 

-11.899

2.119

 

 

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

4690.197

4132.098

4219.667

Profit

152.971

141.704

(53.006)

 

3.26%

3.43%

(1.26)%

 

 

 

LEGAL CASE

 

 

http://54.234.29.250/ferretops/mirascreenshots/5aa8cfe2d4e376749c0002a15aa8d1c2d4e37607ea003929.jpg

 

 

 

 

 

LABOUR COURT, VADODARA

Case Details

Case Type : REFER-T-LC
Filing Number: 1161/2010Filing Date: 15-11-2010
Registration No.: 1161/2010Registration Date: 15-11-2010
CNR NO: GJVD15-001097-2010

 

Case Status

First Hearing Date : 06th August 2013
Next Hearing Date: 22nd March 2016
Stage of Case: For Evidence of opponent
Court No. and Judge : 1-JUDGE, LABOUR COURT

Petitioner and Advocate

1) VINODKUMAR MAHENDRASINH VAGHELA C/O ARVINDBHAI PARMAR BHARATIYA MAZD. SAN
    Address - C/O. BHARTIYA MAJDUR SANGH, SHASTRIPOL, OPP. KOTHI CHAR RASTA, VADODARA,VADODARA


Respondent and Advocate

1) SHIVA PHARMACHEM PVT. LTD.C/O SHREE PIYUSHBHAI DANAK
    Address - BLOCK NO. 588, AT LUNA, TAL. PADRA, DIST. VADODARA,VADODARA

2) MADHAV LABOUR SUPPLIERS
    GULAB VATIKA SOCIETY, E/172, JUNA PADRA ROAD, VADODARA,VADODARA
    Advocate-B P PATEL
    

Acts

Under Act(s)

Under Section(s)

INDUSTRIAL DISPUTES ACT, 1947

010

 

History of Case Hearing

 

Registration No.

Judge

Business On Date

Hearing Date

Purpose of hearing

1161/2010

06-08-2013

03-09-2013

For Reply of opponent

1161/2010

03-09-2013

15-10-2013

For Reply of opponent

1161/2010

15-10-2013

10-12-2013

For Reply of opponent

1161/2010

17-12-2013

18-02-2014

For Reply of opponent

1161/2010

18-02-2014

22-04-2014

For Reply of opponent

1161/2010

12-08-2014

30-09-2014

For Reply of opponent

1161/2010

30-09-2014

25-11-2014

For Reply of opponent

1161/2010

06-01-2015

24-02-2015

For Reply of opponent

1161/2010

24-02-2015

12-05-2015

For Reply of opponent

1161/2010

JUDGE, LABOUR COURT

12-05-2015

16-06-2015

For Reply of opponent

1161/2010

JUDGE, LABOUR COURT

16-06-2015

04-08-2015

For Reply of opponent

1161/2010

JUDGE, LABOUR COURT

04-08-2015

06-10-2015

For Evidence of Applicant

1161/2010

JUDGE, LABOUR COURT

06-10-2015

24-11-2015

For Evidence of Applicant

1161/2010

JUDGE, LABOUR COURT

24-11-2015

04-01-2016

For Evidence of Applicant

1161/2010

JUDGE, LABOUR COURT

04-01-2016

16-02-2016

For Evidence of Applicant

1161/2010

JUDGE, LABOUR COURT

16-02-2016

22-03-2016

For Evidence of opponent

 

 

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

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

UNSECURED LOANS:

 

Particulars

31.03.2017

INR In Million

31.03.2016

INR In Million

Long-term Borrowings

 

 

Loans and advances from related parties

262.616

269.380

Total

262.616

269.380

 

INDEX OF CHARGE:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G78090735

100157323

HDFC BANK LIMITED

16/01/2018

-

-

298000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI 400013 MAHARASHTRA INDIA

2

G50172048

100115170

YES BANK LIMITED

19/07/2017

-

-

4624750.0

NEHRU CENTER, 9TH FLOOR, DISCOVERY OF INDIA,DR. A.B. ROAD, WORLI,MUMBAI-400018 MAHARASHTRA INDIA

3

G42851394

100095244

YES BANK LIMITED

07/04/2017

-

-

4624050.0

NEHRU CENTER, 9TH FLOOR, DISCOVERY OF INDIA,DR. A.B. ROAD, WORLI,MUMBAI-400018 MAHARASHTRA INDIA

4

G33422791

100072223

Citi Bank N.A.

21/12/2016

-

-

200000000.0

GF 28-31, TRIDENT COMPLEX, RACE COURSEALKAPURI, OPPOSITE GERI COMPOUND,VADODARA,GUJARAT-390007 INDIA

5

G07531908

100038617

RBL BANK LIMITED

29/06/2016

-

-

100000000.0

SHAHUPURI,KOLHAPUR, KOLHAPUR-416001 MAHARASHTRA INDIA

6

G05997770

100034062

HDFC BANK LIMITED

22/04/2016

-

-

310000000.0

HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI-400013 MAHARASHTRA INDIA

7

G04698775

100028507

ST HELEN'S NOMINEES INDIA PRIVATE LIMITED

28/03/2016

29/04/2016

-

198525000.0

1ST FLOOR, CRESCENZO BUILDING, C-38/39,"G" BLOCK, BANDRA KURLA COMPLEX,BANDRA (EAST) MUMBAI-400051 MAHARASHTRA INDIA

8

G04703146

100029853

HDFC BANK LIMITED

17/03/2016

-

-

150000000.0

HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI -400013 MAHARASHTRA INDIA

9

G05539226

100060483

HDFC BANK LIMITED

16/03/2015

-

-

187500000.0

HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI-400013 MAHARASHTRA INDIA

10

G04296265

10521121

KOTAK MAHINDRA BANK LIMITED

25/08/2014

06/05/2016

-

375000000.0

27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAI-400051 MAHARASHTRA INDIA

 

 

FIXED ASSETS:

 

Tangible assets

 

·         Land

·         Buildings

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Office equipment

·         Computer Equipments

·         Other Equipments

 

Intangible assets

 

·         Computer software

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 64.87

UK Pound

1

INR 90.48

Euro

1

INR 79.91

 

 

INFORMATION DETAILS

 

Information Gathered by :

ARC

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

RKI

 

 

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

YES

--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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.