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|
%20PRIVATE%20LIMITED%20-%20498905%2024-Mar-2018_files/image002.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20498905%2024-Mar-2018_files/image004.jpg)
%20PRIVATE%20LIMITED%20-%20498905%2024-Mar-2018_files/image006.gif)
MIRA
INFORM REPORT
|
Report No. : |
498905 |
|
Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SKI CARBON BLACK (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Aditya Birla Centre, S.K. Ahire Marg, Mahakali Caves Road, Worli, Mumbai-400030,
Maharashtra |
|
Tel. No.: |
91-22-24995000/ 24996086 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
05.04.2013 |
|
|
|
|
Com. Reg. No.: |
11-241741 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 325.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201MH2013PTC241741 |
|
|
|
|
IEC No.: |
27131001450 |
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|
|
|
GST No.: |
27AASCS9916L1ZC |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AASCS9916L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the Manufacturing and Sale of Carbon Black, which is used mainly by Tyre Industry and also Produces and Sells excess Electric Power Generated from the low calorific value off gas which is generated in the process of Manufacturer of Carbon Black. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “SKI Carbon Black (Mauritius) Limited”, which is a wholly owned subsidiary of “SKI Investments Pte Limited, Singapore. It was incorporated in the year 2013 and is engaged in the Manufacture and Sale of carbon black, which is used mainly by tyre industry and also produces and sells excess electric power generated from the low calorific value off gas which is generated in the process of manufacturer of carbon black. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. As per financials records of 2016, the company has registered a decline in its revenue as compared to its previous year’s revenue and has reported good profit margin of 10.81% under review. Rating takes into consideration the company’s healthy financial risk profile along with low solvency indicators and good liquidity position. Rating also takes into account the strong financial and managerial support received from its parent company and well established management team. Further, the company has reported good Earnings Per Share of INR 55.71 against its face value of INR 10. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealings at the usual 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 |
ICRA |
|
Rating |
Long term rating: AA |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
24.02.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
24.02.2017 |
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 DECLINED BY
|
Name : |
Mr. Sandeep Arora |
|
Designation : |
Sales Department |
|
Contact No.: |
91-9594078662 |
|
Date : |
23.03.2018 |
[91-20-24995000/ 24996086] Ringing
LOCATIONS
|
Registered/ Corporate Office : |
Aditya Birla Centre, S.K. Ahire Marg, Mahakali Caves Road, Worli, Mumbai-400030,
Maharashtra, India |
|
Tel. No.: |
91-22-24995000/ 24996086/ 66525000 |
|
Mobile No.: |
91-9594078662 (Mr. Sandeep Arora) |
|
Fax No.: |
91-22-24995729 |
|
E-Mail : |
|
|
|
|
|
Website: |
|
|
|
|
|
Regional Head
Office: |
K-16, Phase II, Unit Hi-Tech Carbon, Thiruvallur SIPCOT Industrial Complex, Gummidipoondi – 601201, Tamilnadu, India |
|
Tel. No.: |
91-44-27989233 / 27989236 |
|
|
|
|
Regional Office 1: |
910/911, Kailash Building Kasturba Gandhi Marg New Delhi –
110001 |
|
Tel. No.: |
91-11-23351069 / 23351070 |
|
|
|
|
Regional Office 2: |
96/A, Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai - 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-66928500 |
|
|
|
|
Technology Center: |
Aditya Birla Science and Technology Center Plot No. 1 & 1-A/1, MIDC Taloja Panvel, Taluka Raigad – 410 208, Maharashtra, India |
|
Tel. No.: |
91-22 6760-3000 |
|
|
|
|
Manufacturing Unit
1: |
Village Lohop, Patalganga, Khalapur Taluka, Raigad District – 410207 Maharashtra, India |
|
Tel. No.: |
91-21-92261106 |
|
|
|
|
Manufacturing Unit
2: |
Murdhawa Industrial Area P.O. Renukoot, Sonebhadra – 231 217 Uttar Pradesh, India |
|
Tel. No.: |
91-5446-252387/ 252391 |
|
|
|
|
Manufacturing Unit
3: |
K-16, Phase II, Dist. Thiruvallur SIPCOT Industrial Complex, Gummidipoondi – 601201, Tamilnadu, India |
|
Tel. No.: |
91-44-27989233/ 27989236 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Shyamsunder Rathi |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Gangajyoti, Gangotri Society, Flat No 16,Bangur Nagar, Goregoan (West) Mumbai-400063, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.06.1957 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Chartered Accountant |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2013 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ABKPR4767N |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02255407 |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Surendra Kumar Goyal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
503, Satyam, 90 Feets DP Road, Near HDFC Bank, Thakur Complex, Kandivali (East), Mumbai-400101, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.06.1968 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Chartered Accountant |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2013 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ACWPG6659B |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00171025 |
||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Santrupt Misra |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
3101-31 Zahra Tower Dr. E Moses Road, Worli, Mumbai-400018,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.08.1965 |
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Date of Appointment : |
01.10.2013 |
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Voter ID No.: |
TDW1588573 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00013625 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Gopikrishna
Krishna Tulsian |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
32 Peacock Palace 69 Bhulabhai Desai Road, Mumbai-400026, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.02.1937 |
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Date of Appointment : |
01.10.2013 |
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Voter ID No.: |
JRW1335371 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00017786 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Pranab Barua |
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|
Designation : |
Director |
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|
Address : |
D-1, Cedar Crest, 258, 10th Main, Defence Colony, Indira Nagar, Bangalore-560038, Karnataka, India |
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|
Date of Birth/Age : |
21.09.1952 |
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Date of Appointment : |
07.01.2016 |
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DIN No.: |
00230152 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Dilip Roopsingh Gaur |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Gep Bungalow, Birla Copper Township At Po Dahej, Taluka Vagara Bharuch-392130, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
05.04.2013 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02071393 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mrs. Priyanka Baheti |
|
Designation : |
Company Secretary |
|
Address : |
B2-44, Orchid, Mahendra Gardens S.V. Road, Goregaon (West), Mumbai-400062, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1982 |
|
Qualification : |
Company Secretary |
|
Date of Appointment : |
01.09.2013 |
|
PAN No.: |
AGOPB7863J |
|
|
|
|
Name : |
Mr. Nikunj Mundra |
|
Designation : |
Chief Finance Officer |
|
Address : |
A2302, Bridgewood, House of Hiranandani OMR, Siruseri, Egattur Chennai 600130, Tamilnadu, India |
|
Date of Appointment : |
01.09.2016 |
|
PAN No.: |
ACKPM5671M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
SKI Carbon Black (Mauritius) Limited |
|
32509499 |
|
Gopi Krishna Tulsian (Nominee of SKI Carbon Black (Mauritius) Limited) |
|
01 |
|
|
|
|
|
Total |
|
32509500 |
AS ON: 12.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Body corporate) |
100.00 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20498905%2024-Mar-2018_files/image008.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Manufacturing and Sale of Carbon Black, which is used mainly by Tyre Industry and also Produces and Sells excess Electric Power Generated from the low calorific value off gas which is generated in the process of Manufacturer of Carbon Black. [Registered Activity] |
||||
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||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
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|
||||
|
Agencies Held : |
Not Available |
||||
|
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|
||||
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Exports : |
Not Divulged |
||||
|
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|
||||
|
Imports : |
Not Divulged |
||||
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|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
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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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|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution: |
Axis Trustee Services Limited |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
1st Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai-400 011, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
SKI Carbon Black (Mauritius) Limited, Mauritius holds 99.99% of the equity share capital as at March 31, 2016 |
|
|
|
|
Ultimate holding
company: |
SKI Investment Pte Limited, Singapore (holding 100% equity share capital of SKI Carbon Black (Mauritius) Limited as at March 31, 2016) |
|
|
|
|
Fellow Subsidiary company: |
· Columbian Chemicals Company, Delaware · Alexandria Carbon Black Company S.A.E · Liaoning Birla Carbon Co. Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115000000 |
Equity Shares |
INR 10/- each |
INR 1150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32509500 |
Equity Shares |
INR 10/- each |
INR 325.100 Million |
|
|
|
|
|
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 |
325.100 |
325.100 |
325.100 |
|
(b) Reserves & Surplus |
9083.600 |
7272.600 |
6381.500 |
|
(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) |
9408.700 |
7597.700 |
6706.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
214.300 |
3407.800 |
3755.500 |
|
(b) Deferred tax liabilities (Net) |
691.000 |
305.900 |
72.600 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
112.000 |
104.600 |
89.400 |
|
Total
Non-current Liabilities (3) |
1017.300 |
3818.300 |
3917.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
883.400 |
187.800 |
2796.500 |
|
(b)
Trade payables |
1632.100 |
1643.100 |
2529.500 |
|
(c)
Other current liabilities |
818.600 |
1965.600 |
2423.900 |
|
(d)
Short-term provisions |
50.000 |
48.800 |
208.000 |
|
Total
Current Liabilities (4) |
3384.100 |
3845.300 |
7957.900 |
|
|
|
|
|
|
TOTAL |
13810.100 |
15261.300 |
18582.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5729.200 |
5702.600 |
5752.200 |
|
(ii)
Intangible Assets |
117.700 |
184.800 |
175.400 |
|
(iii)
Capital work-in-progress |
63.400 |
92.400 |
256.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
662.600 |
1118.200 |
876.800 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
6572.900 |
7098.000 |
7060.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
700.400 |
485.300 |
0.000 |
|
(b)
Inventories |
2183.600 |
3032.400 |
5127.000 |
|
(c)
Trade receivables |
3844.500 |
4078.900 |
5547.300 |
|
(d)
Cash and cash equivalents |
0.500 |
25.000 |
3.700 |
|
(e)
Short-term loans and advances |
504.400 |
532.100 |
788.200 |
|
(f)
Other current assets |
3.800 |
9.600 |
55.400 |
|
Total
Current Assets |
7237.200 |
8163.300 |
11521.600 |
|
|
|
|
|
|
TOTAL |
13810.100 |
15261.300 |
18582.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
16757.200 |
22393.100 |
21831.800 |
|
|
|
Other Income |
1029.000 |
521.500 |
42.800 |
|
|
|
TOTAL |
17786.200 |
22914.600 |
21874.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
11861.300 |
17840.400 |
18542.200 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
183.500 |
451.900 |
(475.600) |
|
|
|
Employees benefits expense |
717.000 |
683.000 |
515.100 |
|
|
|
CSR expenditure |
11.500 |
11.100 |
0.000 |
|
|
|
Other expenses |
1594.700 |
1367.900 |
1497.100 |
|
|
|
TOTAL |
14368.000 |
20354.300 |
20078.800 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
3418.200 |
2560.300 |
1795.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
296.200 |
647.700 |
838.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3122.000 |
1912.600 |
957.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
605.600 |
788.200 |
678.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2516.400 |
1124.400 |
279.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
705.400 |
233.300 |
72.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1811.000 |
891.100 |
206.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
668.200 |
1357.600 |
1909.800 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
7613.200 |
12278.000 |
16320.400 |
|
|
|
Components and spare
parts |
138.600 |
53.700 |
78.300 |
|
|
|
Capital Goods |
170.000 |
108.300 |
84.200 |
|
|
TOTAL IMPORTS |
7921.800 |
12440.000 |
16482.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
55.71 |
27.41 |
12.40 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
130.400 |
347.600 |
237.400 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
4316.700 |
4724.800 |
1145.400 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
3757.800 |
4495.900 |
1093.100 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
83.74 |
66.48 |
92.74 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.36 |
5.49 |
3.94 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
50.22 |
33.62 |
49.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.57 |
0.84 |
0.35 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.58 |
0.43 |
0.29 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.27 |
0.50 |
0.64 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.13 |
0.52 |
1.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.36 |
0.51 |
1.19 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.63 |
0.79 |
0.92 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
11.54 |
3.95 |
2.14 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
10.81 |
3.98 |
0.95 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
13.11 |
5.84 |
1.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
19.25 |
11.73 |
3.08 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.14 |
2.12 |
1.45 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.49 |
1.33 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.68 |
0.50 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.78 |
12.13 |
20.88 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.14 |
2.12 |
1.45 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
325.100 |
325.100 |
325.100 |
|
Reserves & Surplus |
6381.500 |
7272.600 |
9083.600 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6706.600 |
7597.700 |
9408.700 |
|
|
|
|
|
|
long-term borrowings |
3755.500 |
3407.800 |
214.300 |
|
Short term borrowings |
2796.500 |
187.800 |
883.400 |
|
Current Maturities of Long
term debt |
237.400 |
347.600 |
130.400 |
|
Total
borrowings |
6789.400 |
3943.200 |
1228.100 |
|
Debt/Equity
ratio |
1.012 |
0.519 |
0.131 |
%20PRIVATE%20LIMITED%20-%20498905%2024-Mar-2018_files/image010.gif)
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 |
21831.800 |
22393.100 |
16757.200 |
|
|
|
2.571 |
(25.168) |
%20PRIVATE%20LIMITED%20-%20498905%2024-Mar-2018_files/image012.gif)
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 |
21831.800 |
22393.100 |
16757.200 |
|
Profit |
206.600 |
891.100 |
1811.000 |
|
|
0.95% |
3.98% |
10.81% |
%20PRIVATE%20LIMITED%20-%20498905%2024-Mar-2018_files/image014.gif)
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G47386727 |
10579928 |
AXIS TRUSTEE SERVICES LIMITED |
09/07/2015 |
16/06/2017 |
- |
6000000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN |
|
2 |
C72582604 |
10588540 |
AXIS TRUSTEE SERVICES LIMITED |
31/08/2015 |
- |
10/12/2015 |
3500000000.0 |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND,PANDURANG BUDHKAR MARG, WORLI,MUMBAIMH400025IN |
CORPORATE INFORMATION
SKI Carbon Black (India) Private Limited (‘the Company’ or 'SKI’), an Aditya Birla Group Company, is a private limited company incorporated in India on April 05, 2013. The Company acquired the Carbon Black Business of Aditya Birla Nuvo Limited (“ABNL”), an Aditya Birla Group Company, with effect from April 01, 2013, on a slump sale basis as a going concern for a net lump sum consideration of INR 3147.600 million as equity value.
The Company has its manufacturing facilities at Tamil Nadu, Uttar Pradesh and Maharashtra. The Company is primarily engaged in the manufacture and sale of carbon black, which is used mainly by tyre industry. The Company also produces and sells excess electric power generated from the low calorific value off gas which is generated in the process of manufacture of carbon black.
PERFORMANCE REVIEW OF THE
BUSINESS/OPERATIONS OF THE COMPANY
The Company has maintained the leading position in Domestic Carbon Black Market. Total Sales volume (including exports) for the Financial Year ended 31st March 2016 was 287814 MT as compared to 276776 MT in the previous year. Production during the Financial Year ended 31st March 2016 stood at 288206 MT as compared to 275692 MT in the previous year. Capacity utilization in FY16 was 91.79% as compared to 87.80% in the previous year. Net Operating Revenue was lower in FY16 compared to previous year due to lower Oil (Raw Material) prices, which in turn reduced the selling price, resulting in lower revenue. However, the contribution margin per MT have increased in FY16 compared to FY15, resulting in higher operating profit. The Company made operating profit of INR 3418.200 million during the year compared to INR 2560.300 million in the previous year. The Operating profit includes INR 851.100 million (P.Y. INR 347.100 million) on account of reversal of Provision for Entry Tax pertaining to earlier years. During last two years, the Company has taken significant efforts to pursue with Utter Pradesh Govt. for getting refund against the entry tax paid for the years 2003-04 to 2012-13. During FY16, the Company obtained cash refund of INR 545.700 million from Govt.
The Company has a total installed capacity of 73.7 MW in power generation at three units. Power generated is partially consumed in the plant and balance power is sold to the State Grids in respective states. The Company has also sold Steam to the neighboring industry at Renukoot. Total revenue from power and steam sales was INR 806.500 million during the year as compared to INR 998.000 million in the previous year. Revenue from Power sales decreased in FY16 due to back-down instructions by Tamil Nadu State Electricity Board considering the surplus power available in Tamil Nadu state from Wind Power generation. Further, due to lower power rate in Maharashtra State, power revenue at Patalganga unit was lower.
ACCREDITATIONS AND ACCOLADES
The company is committed to implement the stringent systems and standards for quality, environment and other areas at all its manufacturing facilities. In addition to the accreditations available, the manufacturing facilities have been conferred with the following certifications and accolades during the Financial Year ended 31st March 2016:
* ISO 50001 for Energy Management Systems for unit at Renukoot
* Chairman’s WCM Gold award for unit at Gummidipoondi
* Nomination to Patalganga unit as finalist for award on Corporate Governance and Sustainability vision by Indian Chamber of Commerce.
FINANCE
The Company has tie-up with various banks and has sufficient borrowing facilities for meeting its financial requirements to support the business operations uninterruptedly. The Company has prepaid the entire term loan of INR 3325. 000million which was outstanding on 31st March 2015, from the strong cash flow from internal accruals as well as funds released due to lower working capital requirement on account of benign oil prices.
Due to this, the finance cost in FY16 is substantially lower compared to previous year.
BUSINESS OUTLOOK
The Govt. of India has been projecting India as International Manufacturing Hub. Several internationally reputed industries including automobile among others, have set up and are looking to expand their manufacturing bases in the country. With impetus on developing industrial corridors and smart cities, the government aims to ensure holistic development of the nation. The corridors would further assist in integrating and developing a conducive environment for the industrial development and will promote advance practices in manufacturing. Indian automobile industry has posted positive growth across segments in FY16 and expected to perform better in FY17. Tyre companies are also performing well and are expanding their capacities to cater to the increasing demand from growth in automobile industry as well as from replacement market due to increased industrial activity. The Company enjoys the status of Preferred Supplier with major tyre companies in India, helping the Company in maintaining its Leadership position in domestic market as well as growing faster than the Carbon Black Industry in India.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Claims against the Company not acknowledged as debts (including taken over under Business Transfer Agreement) |
|
|
|
Excise duty |
610.600 |
643.500 |
|
Others |
157.300 |
146.300 |
|
Customs duty on capital goods and raw materials imported under advance licensing / EPCG scheme, against which export obligation is to be fulfilled. |
41.000 |
41.000 |
|
As per clause 7 - Indemnities of the Business Transfer
Agreement dated June 20, 2013 between SKI Carbon Black (India) Private
Limited ("Company") and Aditya Birla Nuvo Limited
("transferor"), contingent liabilities pertaining to the period
prior to April 01, 2013 (other than those disclosed above) are covered within
the definition of excluded business liabilities. The Transferors have
indemnified the Company for any liabilities arising from contingent
liabilities pertaining to the period prior to April 01, 2013 subject to
minimum of INR 10 lakhs per nature of liability. Further, the maximum
liability shall not be more than 20% of the purchase consideration.
Consequently, those contingent liabilities have not been disclosed in these
financial statements. |
||
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
Intangible assets
- Goodwill
- Computer software
- Patents
- 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 65.13 |
|
UK Pound |
1 |
INR 91.96 |
|
Euro |
1 |
INR 80.34 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SHK |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.