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|
|
MIRA
INFORM REPORT
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Report No. : |
498906 |
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Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
PAYAL POLYPLAST PRIVATE LIMITED (w. e. f. 29.04.2010) |
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Formerly Known
As : |
PAYAL PETROCHEM PRIVATE LIMITED |
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Registered
Office : |
E-24, 1st Floor, Netaji Subhash Marg, Darya Ganj, New Delhi - 110002 |
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Tel. No.: |
91-11-47112100 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
29.04.2010 |
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Com. Reg. No.: |
55-202156 |
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Capital
Investment / Paid-up Capital : |
INR 40.100 Million |
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CIN No.: [Company Identification
No.] |
U24100DL2010PTC202156 |
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IEC No.: [Import-Export Code No.] |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELP17004B |
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PAN No.: [Permanent Account No.] |
AAFCP5296B |
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GSTN : [Goods & Service Tax
Registration No.] |
07AAFCP5296B1ZE |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
The Company is engaged in the business of Manufacture, Produce, Import, Export, and to otherwise Deal in Organic and Inorganic Chemicals, Polymers, Plasticizers, PVC Compounds, Alcohol based Solvents, Chlorinated Paraffin Wax and all kinds of Chemicals, Polymers, and other similar Substances and Products and Importer of Raw Material. (Registered activity and also Confirmed by management) |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 990000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “Payal Group”. The company was incorporated in the year 2010. It is a manufacturer of Plasticizers and Organic and Inorganic Chemicals. For the financial year 2016, there has been slight increase in its revenue by 0.30% along with profit margin of 1.31%. Rating takes into consideration sound financial profile of the company marked by adequate networth base along with average debt coverage indicators. Rating also takes into consideration strong managerial and financials support that company received from its group company. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. Note: As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources. |
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 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long Term (Issuer not co-operating) = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
28.02.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term (Issuer not co-operating) = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
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Date |
28.02.2017 |
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 24.03.2018
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 : |
Mr. Surendra Singh Negi |
|
Designation : |
Marketing Manager |
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Contact No.: |
91-9825095432 |
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Date : |
21.03.2018 |
LOCATIONS
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Registered Office/ Head Office : |
E-24, 1st Floor, Netaji Subhash Marg, Daryaganj, New Delhi
- 110002, India |
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Tel. No.: |
91-11-47112100 |
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Mobile No.: |
91-9825095432 (Mr. Surendra Singh Negi) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Plant 1 / Warehouse : |
402, Aaykshi Flats Akancha Nagar Dahej Pass Road Bharuch – 392095, Gujarat,
India |
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Plant 2 : |
Plot No. D-II/CH-II, GIDC Industrial Area, Taluka-Vagra,
Dahej-Bharuch, Dahej, Gujarat, India |
DIRECTORS
As on 31.03.2016
|
Name : |
Mr. Rajender Prasad Gupta |
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Designation : |
Director |
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Address : |
6/A, Shankaracharya Marg, Civil Lines, Delhi – 110054, India |
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Date of Birth/Age : |
06.11.1956 |
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Date of Appointment : |
29.04.2010 |
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PAN No.: |
AAEPG8108P |
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DIN No.: |
00137056 |
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Other Directorship:
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Name : |
Mr. Nikhil Gupta |
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Designation : |
Director |
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Address : |
6/A, Shankaracharya Marg, Civil Lines, Delhi – 110054, India |
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Date of Birth/Age : |
22.11.1981 |
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Date of Appointment : |
29.04.2010 |
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PAN No.: |
AERPG7665J |
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DIN No.: |
02062242 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Surendra Singh Negi |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Rajender Prasad Gupta |
|
2173912 |
|
Nikhil Gupta |
|
399700 |
|
Subhash Chander Gupta Trust |
|
50 |
|
Poonam Gupta |
|
1436662 |
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Total |
|
4010324 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of Manufacture, Produce, Import, Export, and to otherwise Deal in Organic and Inorganic Chemicals, Polymers, Plasticizers, PVC Compounds, Alcohol based Solvents, Chlorinated Paraffin Wax and all kinds of Chemicals, Polymers, and other similar Substances and Products and Importer of Raw Material. (Registered activity and also Confirmed by management) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Advance Payment, Cheque, RTGS |
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Purchasing : |
Advance Payment, Cheque, RTGS |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End users, OEMs
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Ravik Aggarwal and Associates Chartered Accountants |
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Address : |
31-32, 1st Floor, DDA Market, Rajdhani Enclave, Pitampura, New Delhi – 110034, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAKPA5649R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which
are owned, or have significant influence of or are
partners with Key management personnel and their
relatives : |
U74900DL2008PTC175794
U25200DL2008PTC175848
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9010000 |
Equity Shares |
INR 10/- each |
INR 40.100 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4010324 |
Equity Shares |
INR 10/- each |
INR 40.103 Million |
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|
|
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As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4010000 |
Equity Shares |
INR 10/- each |
INR 40.100 Million |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4010000 |
Equity Shares |
INR 10/- each |
INR 40.100 Million |
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|
|
|
FINANCIAL DATA
[all figures are
in 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 |
40.100 |
40.100 |
40.100 |
|
(b) Reserves and Surplus |
304.707 |
249.379 |
113.200 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.003 |
0.003 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
344.810 |
289.482 |
153.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
524.902 |
440.910 |
392.738 |
|
(b) Deferred tax liabilities (Net) |
63.005 |
53.725 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.427 |
2.556 |
0.586 |
|
Total Non-current
Liabilities (3) |
591.334 |
497.191 |
393.324 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
856.258 |
864.302 |
276.259 |
|
(b) Trade
payables |
736.848 |
766.029 |
233.132 |
|
(c) Other
current liabilities |
63.957 |
73.531 |
76.416 |
|
(d) Short-term
provisions |
6.340 |
8.353 |
2.469 |
|
Total Current
Liabilities (4) |
1663.403 |
1712.215 |
588.276 |
|
|
|
|
|
|
TOTAL |
2599.547 |
2498.888 |
1134.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
689.635 |
723.476 |
568.647 |
|
(ii)
Intangible Assets |
14.790 |
11.025 |
8.188 |
|
(iii) Tangible assets
capital work-in-progress |
5.804 |
0.000 |
47.923 |
|
(iv)
Intangible assets under development |
0.000 |
3.333 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
65.004 |
64.845 |
20.754 |
|
(d)
Long-term loans and advances |
15.829 |
20.373 |
3.280 |
|
(e) Other
Non-current assets |
0.000 |
0.008 |
0.023 |
|
Total Non-Current
Assets |
791.062 |
823.060 |
648.815 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
390.277 |
512.437 |
222.170 |
|
(c) Trade receivables |
783.175 |
604.438 |
94.912 |
|
(d) Cash and
bank balances |
134.948 |
127.344 |
33.148 |
|
(e)
Short-term loans and advances |
493.452 |
423.304 |
135.855 |
|
(f) Other
current assets |
6.633 |
8.305 |
0.000 |
|
Total
Current Assets |
1808.485 |
1675.828 |
486.085 |
|
|
|
|
|
|
TOTAL |
2599.547 |
2498.888 |
1134.900 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4218.400 |
4205.753 |
1721.687 |
|
|
Other Income |
10.574 |
51.956 |
3.979 |
|
|
TOTAL |
4228.974 |
4257.709 |
1725.666 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3427.966 |
3435.573 |
1425.165 |
|
|
Purchases of
Stock-in-Trade |
62.497 |
252.287 |
127.187 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
38.726 |
(17.543) |
(45.479) |
|
|
Employee benefit expense |
75.350 |
59.064 |
24.178 |
|
|
Other expenses |
360.701 |
302.559 |
118.735 |
|
|
Prior period items before tax |
1.755 |
(0.046) |
0.000 |
|
|
Exceptional items before tax |
0.000 |
0.000 |
19.507 |
|
|
Extraordinary items before tax |
15.365 |
10.080 |
0.000 |
|
|
TOTAL |
3982.360 |
4041.974 |
1669.293 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
246.614 |
215.735 |
56.373 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
146.273 |
138.857 |
88.324 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
100.341 |
76.878 |
(31.951) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
37.265 |
31.798 |
22.870 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
63.076 |
45.080 |
(54.821) |
|
|
|
|
|
|
|
Less |
TAX |
7.749 |
14.473 |
(39.979) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
55.327 |
30.607 |
(14.842) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
397.475 |
319.824 |
67.078 |
|
|
TOTAL EARNINGS |
397.475 |
319.824 |
67.078 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2057.139 |
2365.264 |
395.119 |
|
|
TOTAL IMPORTS |
2057.139 |
2365.264 |
395.163 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
13.79 |
7.63 |
(3.70) |
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
6000.000 |
|
|
|
(Due to business
growth) |
|
Expected Sales (2017-2018) : INR 7000.000 Million (Approximately)
The above information has been parted by Mr. Surendra Singh (Marketing
Manager)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
40.560 |
40.596 |
40.435 |
|
Net cash flows from (used in) operations |
82.873 |
53.095 |
(57.709) |
|
Net cash flows from (used in) operating activities |
74.133 |
47.316 |
(60.419) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Operating Income * 365
Days) |
1159.13 |
1022.64 |
614.53 |
|
|
|
|
|
|
Account Receivables Turnover (Operating Income
/ Sundry Debtors) |
0.31 |
0.36 |
0.59 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
77.05 |
75.82 |
54.82 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.63 |
0.42 |
0.25 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.35 |
0.29 |
0.09 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.86 |
0.88 |
0.90 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
4.12 |
4.65 |
4.63 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
4.82 |
5.91 |
3.84 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
2.06 |
2.55 |
4.08 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.69 |
1.55 |
0.64 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
((PAT / Sales) * 100) |
% |
1.31 |
0.73 |
(0.86) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.13 |
1.22 |
(1.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
16.05 |
10.57 |
(9.68) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.09 |
0.98 |
0.83 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.85 |
0.68 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.13 |
0.12 |
0.14 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
35.45 |
33.56 |
17.69 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.09 |
0.98 |
0.83 |
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 |
40.100 |
40.100 |
40.100 |
|
Reserves & Surplus |
113.200 |
249.379 |
304.707 |
|
Share Application money
pending allotment |
0.000 |
0.003 |
0.003 |
|
Net
worth |
153.300 |
289.482 |
344.810 |
|
|
|
|
|
|
Long-term borrowings |
392.738 |
440.910 |
524.902 |
|
Short term borrowings |
276.259 |
864.302 |
856.258 |
|
Current maturities of
long-term debts |
40.435 |
40.596 |
40.560 |
|
Total
borrowings |
709.432 |
1345.808 |
1421.720 |
|
Debt/Equity
ratio |
4.628 |
4.649 |
4.123 |
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
|
1721.687 |
4205.753 |
4218.400 |
|
|
|
144.281 |
0.301 |
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
|
1721.687 |
4205.753 |
4218.400 |
|
Profit
/ (Loss) |
(14.842) |
30.607 |
55.327 |
|
|
(0.86
%) |
0.73
% |
1.31
% |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS AND
OPERATIONS
The directors feel pleasure in reporting that Honorable High Court of Delhi has passed the final order dated 16.05.2016 for amalgamation of the Company M/s Payal Polyplast Private Limited with the Company w.e.f. 1st April 2014. The results presented and operations reported in the Directors report and the financial statements are for the merged entity for the financial year ending 31st March 2016 with corresponding figures for the financial year ending 31st March 2015.
The Company and the merged entity continued to carry on the business of manufacturing of Plasticizers which is one of the Petrochemical products. During the year the Company along with merged entity has achieved gross turnover from manufacturing activities amounting to INR 4218.400 Million as against Turnover of INR 4205.700 Million during the previous year along with figures of merged entity.
EVENTS SUBSEQUENT TO
THE DATE OF FINANCIAL STATEMENTS
The Honorable High Court of Delhi has passed the final order for amalgamation of the Company dated 16.05.2016. After the order passed by the Honorable High Court of Delhi, the Company has filed the copy of High Court Order to the Registrar of Companies. On 15.07.2016 the Ministry has approved the High Court Order filed by the Company. Finally, the Status of the Company has been changed i.e. M/s Payal Polyplast Private Limited (Transferor Company) got merged with M/s Payal Petrochem Private Limited (Transferee Company). The Company has also applied for the Name Change of the Company from M/s Payal Petrochem Private Limited to M/s Payal Polyplast Private Limited which is pending before the Registrar of Companies (NCT of Delhi & Haryana).
OPERATIONS
The main business activities of the Company and the merged entity are to manufacture, produce, import, export, and to otherwise deal in organic and inorganic chemicals, polymers, plasticizers, PVC compounds, Alcohol based solvents, Chlorinated Paraffin wax and all kinds of Chemicals, polymers, and other similar substances and products.
During the period the company along with merged entity has achieved a Total turnover of INR 4218.400 Million and Other Revenue of INR 10.500 Million as against a Turnover of INR 4205.800 Million and Other Revenue of INR 52.000 Million in the Previous Financial Year including that of merged entity. Both the companies are in similar business of manufacturing Plastizers products and faced tough competition in the market during the period . However, in the Global scenario, the drop in the crude oil price triggered the decline in price of raw materials as well correspondingly fall in price of finished products. The fall in raw material prices has helped the Industry to register and improve the margins slightly.
The profit before interest, depreciation, exceptional Items and taxation was at INR 262.000 Million as against INR 225.800 Million in the previous year. The Company during the period had also recognized the benefit of Deferred Tax Assets as per accounting standard and MAT Credit entitlement as per the provisions of the Income Tax Act. The Net surplus after making provisions for Deferred Tax liabilities and Assets, and MAT Credit entitlement stood at INR 55.300 Million as against loss INR 30.600 Million in the previous year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Intercorporate borrowings |
204.800 |
0.000 |
|
Loans and advances from related parties |
135.400 |
0.000 |
|
Other loans and advances |
0.000 |
216.581 |
|
|
|
|
|
Total |
340.200 |
216.581 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G21620539 |
100059739 |
Andhra Bank |
20/08/2016 |
- |
- |
43000000.0 |
M-35, Connaught Circus, New Delhi – 110001, India |
|
2 |
C09633744 |
10506532 |
Andhra Bank |
12/06/2014 |
- |
- |
35000000.0 |
M-35, Connaught Circus, New Delhi – 110001, India |
|
3 |
B94001583 |
10332973 |
Canara Bank |
03/01/2012 |
20/12/2013 |
- |
850800000.0 |
Darya Ganj, New Delhi – 110002, India |
|
4 |
G45571056 |
10173504 |
Canara Bank |
24/08/2009 |
15/03/2017 |
- |
1020000000.0 |
Darya Ganj, New Delhi – 110002, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Other money for which company is contingently liable |
60.662 |
332.301 |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Furniture and fixtures
- 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, 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 65.13 |
|
|
1 |
INR 91.96 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
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 |
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.