|
|
|
MIRA INFORM REPORT
|
Report No. : |
506357 |
|
Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUBHODAYA
CHEMICALS PRIVATE LIMITED (w.e.f. 12.08.2015) |
|
|
|
|
Formerly Known
As : |
SUBHODAYA
CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
28-2-47, Daspalla Complex, Suryabagh, Visakhapatnam – 530020, Andhra
Pradesh |
|
Tel. No.: |
91-891-2525246 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.01.1995 |
|
|
|
|
Com. Reg. No.: |
01-019190 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 50.009 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299AP1995PTC019190 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADHS6008K |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the business of Manufacturing Fertilizers and Offers related
Product Sulphuric Acid. [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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1995 having satisfactory track record. For the financial year ended 2017, revenue of the company has slightly declined. However, it has witnessed a growth in its profit and has achieved fair profit margin at 1.67% (approx.). The company possesses an acceptable financial profile marked by decent net worth base along with fair debt level and favourable gap between trade payables to its trade receivables. The company also derives strength from its long standing track record of business operations. Trade relations are reported as fair. Business is active. Payment terms are seems to be slow but correct. In view of the 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 |
CRISIL |
|
Rating |
Long Term = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
09.02.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 03.05.2018
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
MANAGEMENT NON-COOPERATIVE [91-891-2525246]
LOCATIONS
|
Registered Office : |
28-2-47, Daspalla Complex, Suryabagh, Visakhapatnam–530020, Andhra
Pradesh, India |
|
Tel. No.: |
91-891-2525246 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Vidyasagar Vemulapalli |
||||||||||
|
Designation : |
Managing Director |
||||||||||
|
Address : |
Plot No 65, Daspalla Hills, Visakhapatnam –
530003, Andhra Pradesh, India |
||||||||||
|
Date of Birth/Age : |
01.03.1943 |
||||||||||
|
Qualification : |
Graduation |
||||||||||
|
Date of Appointment : |
31.08.2000 |
||||||||||
|
PAN No.: |
AAHPV6459K |
||||||||||
|
DIN No.: |
01686869 |
||||||||||
|
|||||||||||
|
|
|
||||||||||
|
Name : |
Mr. Samar Vemulapalli |
||||||||||
|
Designation : |
Whole-time Director |
||||||||||
|
Address : |
11-9-25/1, Plot No: 65, Daspalla Hills,
Visakhapatnam – 530003, Andhra Pradesh, India |
||||||||||
|
Date of Birth/Age : |
12.02.1972 |
||||||||||
|
Qualification : |
Graduation |
||||||||||
|
Date of Appointment : |
01.04.2008 |
||||||||||
|
PAN No.: |
AJCPV5254G |
||||||||||
|
DIN No.: |
02256257 |
||||||||||
|
|
|
||||||||||
|
Name : |
Mr. Ramachandra Rao Kantamaneni |
||||||||||
|
Designation : |
Whole-time Director |
||||||||||
|
Address : |
P.No.72, Sector-5, M.V.P. Colony,
Visakhapatnam – 530017, Andhra Pradesh, India |
||||||||||
|
Date of Birth/Age : |
04.08.1947 |
||||||||||
|
Qualification : |
Graduation |
||||||||||
|
Date of Appointment : |
01.04.2008 |
||||||||||
|
PAN No.: |
AEQPK8465H |
||||||||||
|
DIN No.: |
02256279 |
||||||||||
|
|
|
||||||||||
|
Name : |
Mr. Veera Anjaneyulu Rayala |
||||||||||
|
Designation : |
Whole-time Director |
||||||||||
|
Address : |
Opposite Prabhavathi - Hospital
Narasingarao Peta Anakapalli – 531032, Andhra Pradesh, India |
||||||||||
|
Date of Birth/Age : |
14.02.1954 |
||||||||||
|
Qualification : |
Graduation |
||||||||||
|
Date of Appointment : |
01.04.2008 |
||||||||||
|
PAN No.: |
ABEPR5072N |
||||||||||
|
DIN No.: |
02256442 |
||||||||||
|
|
|
||||||||||
|
Name : |
Mr. Vemulapalli Greeshma |
||||||||||
|
Designation : |
Director |
||||||||||
|
Address : |
8-3-8/3, Vijay Nagar Palace Layout,
Pedawaltair, Visakhapatnam – 530017, Andhra Pradesh, India |
||||||||||
|
Date of Birth/Age : |
04.06.1980 |
||||||||||
|
Qualification : |
Graduation |
||||||||||
|
Date of Appointment : |
01.11.2015 |
||||||||||
|
PAN No.: |
AUXPV1448G |
||||||||||
|
DIN No.: |
07368516 |
||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
93.72 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
6.28 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of Manufacturing Fertilizers and Offers related
Product Sulphuric Acid. [Registered Activity] |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Not Divulged |
||||||
|
|
|
||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Punjab National Bank Ground
Floor, LIC Building, Jeevan Prakash Road, Visakhapatanam - 530004, Andhra Pradesh,
India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Rao and Shyam Chartered Accountants |
|
Address : |
# 50-121-76/5, 6 &7Sri Sai Arcade, Opposite 4Th Town Plolice Station, Visakhapatnam, Andhra Pradesh, India |
|
PAN No.: |
AAEFR2984G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
INR 10/- each |
INR 60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000900 |
Equity Shares |
INR 10/- each |
INR 50.009
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
50.009 |
50.009 |
50.009 |
|
(b) Reserves and Surplus |
36.850 |
32.280 |
28.209 |
|
(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) |
86.859 |
82.289 |
78.218 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
98.701 |
110.618 |
98.864 |
|
(b) Deferred tax liabilities (Net) |
1.731 |
1.763 |
1.361 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
100.432 |
112.381 |
100.225 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
45.005 |
18.973 |
38.149 |
|
(b) Trade
payables |
80.748 |
144.707 |
62.659 |
|
(c) Other
current liabilities |
9.359 |
15.131 |
10.734 |
|
(d) Short-term
provisions |
0.931 |
0.852 |
0.000 |
|
Total Current
Liabilities (4) |
136.043 |
179.663 |
111.542 |
|
|
|
|
|
|
TOTAL |
323.334 |
374.333 |
289.985 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
57.109 |
63.680 |
34.198 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
26.456 |
|
(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 loans and advances |
19.450 |
2.509 |
2.879 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
76.559 |
66.189 |
63.533 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.010 |
0.000 |
0.000 |
|
(b)
Inventories |
54.408 |
72.304 |
83.812 |
|
(c) Trade
receivables |
97.101 |
92.510 |
48.800 |
|
(d) Cash and
bank balances |
21.686 |
16.009 |
22.755 |
|
(e) Short-term
loans and advances |
57.711 |
114.494 |
60.703 |
|
(f) Other
current assets |
15.859 |
12.827 |
10.382 |
|
Total
Current Assets |
246.775 |
308.144 |
226.452 |
|
|
|
|
|
|
TOTAL |
323.334 |
374.333 |
289.985 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
272.557 |
387.270 |
170.572 |
|
|
Other Income |
6.294 |
1.219 |
0.967 |
|
|
TOTAL |
278.851 |
388.489 |
171.539 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
127.681 |
197.591 |
90.706 |
|
|
Purchases of
Stock-in-Trade |
19.032 |
17.910 |
1.578 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
6.280 |
24.853 |
21.007 |
|
|
Employee benefit expense |
21.853 |
18.979 |
14.286 |
|
|
Other expenses |
78.860 |
103.437 |
59.842 |
|
|
TOTAL |
253.706 |
362.770 |
187.419 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
25.145 |
25.719 |
-15.880 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
13.300 |
14.071 |
10.818 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.845 |
11.648 |
-26.698 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.307 |
7.175 |
5.816 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4.538 |
4.473 |
(32.514) |
|
|
|
|
|
|
|
Less |
TAX |
(0.033) |
0.403 |
(1.263) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
4.571 |
4.070 |
(31.251) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.91 |
0.81 |
(6.25) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
6.586 |
6.954 |
7.109 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
46.708 |
4.488 |
(15.788) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
46.708 |
4.488 |
(5.930) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
130.03 |
87.19 |
104.43 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.81 |
4.19 |
3.50 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
200.89 |
245.09 |
247.83 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.46 |
0.36 |
-0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.44 |
0.40 |
-0.26 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.75 |
0.79 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.73 |
1.66 |
1.84 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.57 |
2.18 |
1.43 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.66 |
0.77 |
0.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.89 |
1.83 |
-1.47 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.68 |
1.05 |
-18.32 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.41 |
1.09 |
-10.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.26 |
4.95 |
-39.95 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.81 |
1.72 |
2.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.41 |
1.31 |
1.28 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.27 |
0.22 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.01 |
2.73 |
2.88 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.81 |
1.72 |
2.03 |
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 |
50.009 |
50.009 |
50.009 |
|
Reserves & Surplus |
28.209 |
32.280 |
36.850 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
78.218 |
82.289 |
86.859 |
|
|
|
|
|
|
long-term borrowings |
98.864 |
110.618 |
98.701 |
|
Short term borrowings |
38.149 |
18.973 |
45.005 |
|
Current Maturities of Long
term debt |
7.109 |
6.954 |
6.586 |
|
Total
borrowings |
144.122 |
136.545 |
150.292 |
|
Debt/Equity
ratio |
1.843 |
1.659 |
1.730 |
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 |
170.572 |
387.270 |
272.557 |
|
|
|
127.042 |
(29.621) |
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 |
170.572 |
387.270 |
272.557 |
|
Profit/ (Loss) |
(31.251) |
4.070 |
4.571 |
|
|
(18.32%) |
1.05% |
1.68% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
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% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
Y10216761 |
90123956 |
PANJAB NATIONAL BANK |
11/11/1997 |
26/11/1998 |
- |
26500000.0 |
BHIKAJI COMA PLACENEW DELHIDLIN |
|
2 |
G51672251 |
90121144 |
Punjab National Bank |
11/11/1997 |
04/11/2016 |
- |
80000000.0 |
LIC Building Branch,LIC Building Branch,VisakhapatnamAP530020IN |
|
3 |
Y10213825 |
90121020 |
THE VYSYA BANK LTD |
14/11/1996 |
- |
- |
26000000.0 |
MAGANTI MANSION JAGADAMBAJN SURYABAGHVISAKHAPATNAMAP530020IN |
|
4 |
A81593733 |
90120961 |
INDUSTRIAL INVESTMENT BANK OF INDIA LTD |
27/03/1996 |
09/10/1997 |
10/09/2009 |
30000000.0 |
19 NETAJI SUBHAS ROADCALCUTTAWB500029IN |
|
5 |
A78052040 |
90121016 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
14/10/1996 |
09/10/1997 |
29/07/2009 |
50000000.0 |
IDBI TOWERCUFFE PARADEMUMBAIMH400005IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred payment liabilities |
34.830 |
38.093 |
|
Other loans and advances |
61.452 |
67.946 |
|
|
|
|
|
Total |
96.282 |
106.039 |
CORPORATE INFORMATION
Subject (formerly known as SUBHODAYA CHEMICALS LIMITED) is a Company, domiciled in India and incorporated under the provisions of the Companies Act, 1956. It is engaged in the business of manufacturing fertilizers and offers related product Sulphuric acid. The unit is in Gowripatnam, West Godawari District.
The company has been converted into a private limited with effect from 12th August 2015
OPERATIONS:
The
Directors are pleased to report that the company during the financial year
2016-17 has a revenue of INR 278.851 million from operations as against the
previous year turnover of INR 388.489 million, thereby registering a decrease
of 28.22%.
The
company has earned a net profit of INR 4.416 million after providing for
depreciation, financial charges and Income-Tax during the year under report as
against the previous year net loss of INR 4.070 million.
FUTURE OUTLOOK:
With
the removal of mandatory minimum Fifty percent production condition for release
of Administrative concession for Single Super Phosphate, the Company need not
carry unnecessary inventory of finished goods and raw materials and thus ease
the burden on finances of the company.
The demand for the Acid as well selling prices expected to remain steady throughout the current financial year.
The
demand for the Single Super Phosphate (SSP) both Powder and Granules also
continues to be steady during the current financial year. The Company has added
one more product called Calcium- Magnesium- Sulphur (CMS), a soil nutrient to
its product range during the current financial year. With the improved demand
for Sulphuric Acid, Single Super Phosphate and addition of a new product to the
company’s product range, your Directors are hopeful that the Company would do
well in the current financial year.
FIXED ASSETS:
· Land
· Buildings
· Factory building
· Furniture and fixtures
· Plant and equipment
· Vehicles
· Office equipment
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 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 66.66 |
|
UK Pound |
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RUP |
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 |
NO |
|
--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.