|
|
|
MIRA INFORM REPORT
|
Report No. : |
507807 |
|
Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
NICHINO CHEMICAL INDIA PRIVATE LIMITED (w.e.f. 16.12.2017) |
|
|
|
|
Formerly Known
As : |
NECTAR
CROP SCIENCES PRIVATE LIMITED (w.e.f. 25.03.2015) NECTAR
CROP SCIENCES LIMITED |
|
|
|
|
Registered
Office : |
A-24/25, APIE, Balanagar, Hyderabad – 500037, Telangana |
|
Tel. No.: |
91-40-23772502 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
05.12.2013 |
|
|
|
|
Com. Reg. No.: |
36-091503 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 10.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100TG2013PTC091503 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
36AAECN5394B1ZH |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
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PAN No.: [Permanent Account No.] |
AAECN5394B |
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|
|
|
TIN No.: |
36675591324 |
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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 agro chemicals and manufactures pesticides technical Bulk, Packing
formulations. The Company’s business operations are predominantly in
pesticides manufacturing and marketing. (Registered Activity) |
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|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
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|
|
|
Payment Behavior : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is
a wholly owned subsidiary of “Hyderabad Chemical Private Limited” and was
incorporated in the year 2013. It is having fine track. For the financial
year 2017, the company has marginal declined in its revenue from operation as
compared to previous year and maintained minimal profit margin of 0.81%. Rating
takes into consideration sound financial profile of the company marked by
healthy networth base along with low debt balance sheet. Further,
the company also derives strength from its strong holding company support,
well established track records in agrochemical industry business operation
and market position. However,
rating weakness is partially offset by working capital intensive operations
and exposure to risks inherent in the agrochemical market in India. Trade
relations are fair. Business is active. Payment terms are seems to be
regular. In view of aforesaid, the company can be considered good for normal 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 Rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
31.10.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
31.10.2017 |
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
31-03-2018.
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 07.05.2018
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 DENIED BY
|
Name : |
Not Divulged |
|
Designation : |
H. R. Department |
|
Contact No.: |
91-40-23772502 |
|
Date : |
05.05.2018 |
LOCATIONS
|
Registered Office : |
A-24/25, APIE, Balanagar, Hyderabad – 500037, Telangana, India |
|
Tel. No.: |
91-40-23772502/ 23772651 |
|
Fax No.: |
91-40-23772595 |
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Email: |
|
|
Website: |
|
|
|
|
|
Factory 1: |
Plot No’s.60 and 61, IDA, Pashamylaram – 502307, Medak District., Telangana, India |
|
Tel. No.: |
91-8455-224340/224341 |
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Fax No.: |
91-8455-224342 |
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Email: |
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|
|
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Factory 2: |
Plot No’s.50, 82 (P), 83, 84 (P) Industrial Area, Humnabad - 585330,
Bidar District, Karnataka, India |
|
Tel. No.: |
91-8492-203193 |
|
Email: |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Anurag Surana |
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Designation : |
Director |
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Address : |
222-D, Block - H, Pushpa Bhawan , Sainik Farms, New Delhi – 110062, India |
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Date of Appointment : |
27.03.2018 |
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DIN No.: |
00006665 |
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Other Directorship:
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Name : |
Mr. Nellore Sukumar |
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Designation : |
Director |
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Address : |
6-3-883/A/10, Padmavathi Palace, Punjagutta, Hyderabad – 500482, Telangana, India |
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Date of Birth/Age : |
02.10.1951 |
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Date of Appointment : |
05.01.2013 |
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DIN No.: |
00462316 |
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PAN No.: |
AAHPR8333C |
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Other Directorship:
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||||||||||||||||||||||||||||
|
Name : |
Mr. Mahendra Uday Bhalerao |
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Designation : |
Director |
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|
Address : |
Plot No. 57, Asbestos Colony, Karkhana, Secunderabad – 500009, Telangana, India |
||||||||||||||||||||||||||||
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Date of Appointment : |
16.05.2017 |
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DIN No.: |
01876185 |
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Other Directorship:
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|
||||||||||||||||||||||||||||
|
Name : |
Mr. Hideji Hosoda |
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|
Designation : |
Director |
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|
Address : |
NO. 2-11, Shimoda-Cho 2-Chome, Kohoku-Ku, Yokohama-Shi Kanagawa 2230064 Jp |
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|
Date of Appointment : |
11.03.2015 |
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DIN No.: |
07109868 |
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Other Directorship:
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|||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||
|
Name : |
Mr. Mitsuhiro Kishida |
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|
Designation : |
Director |
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|
Address : |
Flat No. 913, Prithvi Block, My Home Nawadweep Apartment, Hitech City, Madhapur, Hyderabad – 500081, Telangana, India |
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Date of Birth/Age : |
15.03.1960 |
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Date of Appointment : |
11.03.2015 |
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DIN No.: |
07109872 |
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Other Directorship:
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|||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||
|
Name : |
Mr. Junjiro Inoshita |
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Designation : |
Director |
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Address : |
No. 2-1-1103, Nishi 24-Chome, Kita 4-Jo, Chuo-Ku Sapporo 40676 JP |
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Date of Birth/Age : |
31.01.1965 |
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Date of Appointment : |
01.02.2017 |
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DIN No.: |
07704488 |
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Other Directorship:
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||||||||||||||||||||||||||||
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Name : |
Mr. Manabu Katsurada |
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Designation : |
Director |
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Address : |
N0.2340-4, Shindo, Minami-Ku Sagamihara 03801 JP |
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Date of Birth/Age : |
30.06.1959 |
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Date of Appointment : |
01.02.2017 |
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DIN No.: |
07704491 |
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Other Directorship:
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Name : |
Yuta Yamada |
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Designation : |
Additional Director |
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|
Address : |
Flat No,201, 2nd Floor, E- Block, My Home Abhra Apartments, Hitech City, Inorbit Mall Road, Madhapur , Hyderabad - 500032 , Telangana, India |
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Date of Appointment : |
19.01.2018 |
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DIN No.: |
08018311 |
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Other Directorship:
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|
||||||||||||||||||||||||||||
|
Name : |
Mr. Sivarama Gopal Kondaguntur |
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Designation : |
Additional Director |
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|
Address : |
Plot No 5, High III, Annamaya Enclave, R.C. Puram, Ramachandrapuram, Medak - 502032, Telangana, India |
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Date of Appointment : |
02.04.2018 |
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DIN No.: |
08097322 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Hyderabad Chemical Private Limited, India |
1049999 |
|
Nihon Nohyaku Company Limited, Japan |
1 |
|
Total |
1050000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 31.08.2017
|
Category |
Percentage |
|
Promoters (Bodies corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in
the business of agro chemicals and manufactures pesticides technical Bulk,
Packing formulations. The Company’s business operations are predominantly in
pesticides manufacturing and marketing. (Registered Activity) |
||||||||
|
|
|
||||||||
|
Products / Services
: |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
Not Available |
||||||||
|
|
|
||||||||
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Agencies Held : |
Not Available |
||||||||
|
|
|
||||||||
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Exports : |
Not Divulged |
||||||||
|
|
|
||||||||
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Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Raju and Prasad Chartered Accountants |
|
Address : |
401, Diamond House, ADJ to Amrutha Hills, Punjagutta, Hyderabad - Telangana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFR2404H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
· Hyderabad Chemical Private Limited (CIN No: U24100TG2013PTC091502) |
|
|
|
|
Ultimate Holding Company : |
· Nihon Nohyaku Company Limited, Japan |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Hyderabad Chemical Products Private Limited (CIN No: U24239TG1990PTC011356) · Neo Seeds India Private Limited (CIN No: U01112TG2009PTC063224) |
CAPITAL STRUCTURE
AS ON 31.08.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
1050000 |
Equity Shares |
INR 10/- each |
INR 10.500 Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.500 |
10.500 |
10.500 |
|
(b) Reserves and Surplus |
688.418 |
674.678 |
668.875 |
|
(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) |
698.918 |
685.178 |
679.375 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
100.000 |
100.000 |
111.834 |
|
(b) Deferred tax liabilities (Net) |
89.815 |
80.637 |
80.969 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
5.980 |
4.111 |
4.429 |
|
Total Non-current
Liabilities (3) |
195.795 |
184.748 |
197.232 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
128.996 |
59.944 |
90.314 |
|
(b) Trade
payables |
362.676 |
305.449 |
373.199 |
|
(c) Other
current liabilities |
99.830 |
93.893 |
121.845 |
|
(d) Short-term
provisions |
5.327 |
0.650 |
9.278 |
|
Total Current
Liabilities (4) |
596.829 |
459.936 |
594.636 |
|
|
|
|
|
|
TOTAL |
1491.542 |
1329.862 |
1471.243 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
635.012 |
610.138 |
604.266 |
|
(ii)
Intangible Assets |
16.067 |
21.560 |
27.214 |
|
(iii) Tangible assets capital
work-in-progress |
17.488 |
3.769 |
15.889 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.069 |
0.087 |
0.086 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
2.080 |
2.137 |
11.752 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
670.716 |
637.691 |
659.207 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
215.963 |
175.726 |
312.459 |
|
(c) Trade
receivables |
434.935 |
365.229 |
328.055 |
|
(d) Cash and
bank balances |
57.491 |
23.236 |
33.607 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
112.437 |
127.980 |
137.915 |
|
Total
Current Assets |
820.826 |
692.171 |
812.036 |
|
|
|
|
|
|
TOTAL |
1491.542 |
1329.862 |
1471.243 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1422.593 |
1441.830 |
1009.099 |
|
|
Other Income |
22.895 |
6.682 |
7.299 |
|
|
TOTAL |
1445.488 |
1448.512 |
1016.398 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
998.591 |
994.287 |
861.112 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
14.576 |
107.246 |
(117.193) |
|
|
Employee benefit expense |
78.593 |
59.537 |
43.551 |
|
|
Other expenses |
259.618 |
219.511 |
167.731 |
|
|
TOTAL |
1351.378 |
1380.581 |
955.201 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
94.110 |
67.931 |
61.197 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
26.421 |
22.288 |
18.886 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.689 |
45.643 |
42.311 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
46.933 |
44.212 |
25.978 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
20.756 |
1.431 |
16.333 |
|
|
|
|
|
|
|
Less |
TAX |
9.179 |
(0.046) |
13.109 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
11.577 |
1.477 |
3.224 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.605 |
1.128 |
(0.206) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend |
0.000 |
0.000 |
1.575 |
|
|
Tax on Dividend |
0.000 |
0.000 |
0.315 |
|
|
BALANCE
CARRIED TO THE B/S |
14.182 |
2.605 |
1.128 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
11.02 |
1.41 |
4.03 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
88.328 |
96.066 |
170.631 |
|
Net cash flows from (used in) operations |
80.531 |
85.328 |
154.523 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
111.59 |
92.46 |
118.66 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.27 |
3.95 |
3.08 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
132.56 |
112.13 |
158.19 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.44 |
0.39 |
0.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.14 |
0.11 |
0.09 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.47 |
0.42 |
0.48 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.33 |
0.23 |
0.30 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.85 |
0.67 |
0.88 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.96 |
0.93 |
0.95 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.56 |
3.05 |
3.24 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.81 |
0.10 |
0.32 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.78 |
0.11 |
0.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.66 |
0.22 |
0.47 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.38 |
1.50 |
1.37 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.01 |
1.12 |
0.84 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.47 |
0.52 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
21.81 |
15.23 |
19.25 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.38 |
1.50 |
1.37 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[All figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
10.500 |
10.500 |
10.500 |
|
Reserves & Surplus |
668.875 |
674.678 |
688.418 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
679.375 |
685.178 |
698.918 |
|
|
|
|
|
|
Long Term borrowings |
111.834 |
100.000 |
100.000 |
|
Short Term borrowings |
90.314 |
59.944 |
128.996 |
|
Total
borrowings |
202.148 |
159.944 |
228.996 |
|
Debt/Equity
ratio |
0.298 |
0.233 |
0.328 |
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
|
1009.099 |
1441.830 |
1422.593 |
|
|
|
42.883 |
(1.334) |
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
|
1009.099 |
1441.830 |
1422.593 |
|
Profit |
3.224 |
1.477 |
11.577 |
|
|
0.32% |
0.10% |
0.81% |
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 |
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 |
Yes |
|
26 |
Turnover of firm for last about seven
months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about seven months |
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 |
BACKGROUND:
Subject is a domiciled in India and incorporated under the provisions of
the Companies Act, 1956. The Company is engaged in the business of agro
chemicals and manufactures pesticides technical Bulk, Packing formulations. The
Company’s business operations are predominantly in pesticides manufacturing and
marketing
OPERATIONAL REVIEW:
Though Indian Meteorological Department (IMD) had predicted normal monsoon for the financial year 2016-17, rainfall turned out to be deficit with unfavorable seasonal and geographical distribution. The adverse weather conditions coupled with huge carryover stocks of the year 2015-16, shortages of certain raw materials from China and cash crunch on account of demonetization impacted the agrochemical market in the country.
OUTLOOK:
All the major weather forecasting agencies have predicted good monsoon during the current year. They are already witnessing a pickup in demand from their customers.
They are expecting good demand in India during the year on account of shortage situation import of most of technical products and its raw materials which are imported from China.
Government initiatives under the ‘Make in India theme are expected to benefit indigenous technical manufacturers in the long run.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Intercorporate
Deposits |
100.000 |
100.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Term loan from
Banks |
45.591 |
0.000 |
|
Total |
145.591 |
100.000 |
INDEX OF CHARGES:
|
S.No. |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G80392137 |
100163307 |
AXIS BANK LIMITED |
14/09/2017 |
- |
- |
420000000.0 |
CORPORATE BANKING BRANCH, 6-3-879/B, 1ST FLOOR, G. PULLA REDDY BUILDING, GREENLANDS, BEGUMPET, HYDERABAD - 500016, TELANGANA, INDIA |
|
2 |
G09318718 |
10560908 |
STATE BANK OF
HYDERABAD |
22/11/2014 |
10/06/2016 |
- |
610000000.0 |
IDPL, KUKATPALLY BRANCH, HYDERABAD – 500037, TELANGANA, INDIA |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Factory Equipments
·
Other plant and equipment
·
Furniture and Fixtures
·
Vehicles
·
Computer equipments
Intangible Assets
·
Goodwill
·
Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 67.11 |
|
|
1 |
INR 90.85 |
|
Euro |
1 |
INR 80.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
PVG |
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.