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MIRA INFORM REPORT
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Report No. : |
508709 |
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Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
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Name : |
HEXAGON NUTRITION PRIVATE LIMITED (w.e.f. 10.01.2006) |
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Formerly Known
As : |
HEXAGON CHEMOILS PRIVATE LIMITED |
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Registered
Office : |
404, Global Chambers, Adarsh Nagar, Link Road, Andheri (West), Mumbai - 400053, Maharashtra |
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Tel. No.: |
91- 22-40316710 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
27.05.1993 |
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Com. Reg. No.: |
11-072189 |
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Capital
Investment / Paid-up Capital : |
INR 231.967 Million |
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CIN No.: [Company Identification
No.] |
U24110MH1993PTC072189 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACH2359E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading and manufacturing of neutraceuticals and dietary supplements. [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)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1993 and it is based in Mumbai, Maharashtra. The company is the flagship company of the “Hexagon Nutrition Group”. It is engaged in trading and manufacturing of nutraceuticals and dietary supplements. As per the financial record of 2017, the company has achieved 12.69% growth in its revenue as compared to previous year revenue but has incurred operational loss. The sound financial profile of the company marked by adequate networth base along with comfortable debt coverage indicators. Rating takes into consideration equity infused by its promoters. Rating also derives strength from company’s established track record of business and vast experience of the promoters in the field of business association of the company with the reputed international organizations. However, rating strengths are partly offset by the relatively small scale of company’s operations at present exposure to intense competition from the established multinational and other unorganized players in the OTC dietary supplements and retail nutraceutical segment. Business is active. Payments are seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 10.05.2018
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 : |
Mr. Kailash |
|
Designation : |
Accounts Department |
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Contact No.: |
91-22-40316710 |
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Date : |
10.05.2018 |
Management Non-Cooperative (91-44-22625252)
91-22-40316710 - Continuously Ringing
LOCATIONS
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Registered / Corporate Office : |
404, Global Chambers, Adarsh Nagar, Link Road, Andheri (West), Mumbai - 400053, Maharashtra, India |
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Tel. No.: |
91-22-40316710 |
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Fax No.: |
91-22-40316711 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No B – 11, Phase-1, MEPZ – SEZ, Tambaram, Chennai – 600045,
Tamilnadu, India |
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Tel. No.: |
91-44-22625252 |
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Fax No.: |
91-44-22625252 |
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Factory 2: |
Plot No 92A, Unandanagar Lakhmapur Phata, Lakhmapur
Village, Dindori Taluka,
Nashik - 422202, Maharashtra, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Arun Purushottam Kelkar |
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Designation : |
Managing Director |
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Address : |
1102, Dheeraj Gaurav Height I, Near Hyundai - Showroom, Adarsh Nagar, Andheri (West), Mumbai-400053, Maharashtra, India |
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Date of Birth/Age : |
01.05.1950 |
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Date of Appointment : |
27.05.1993 |
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PAN No.: |
AABPK1878P |
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DIN No.: |
00171276 |
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Name : |
Mr. Vikram Arun Kelkar |
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Designation : |
Managing Director |
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Address : |
1102 Dheeraj Gaurav Heights - I , Behind Hyundai Showroom Off Link Road, Adarsh Nagar, Andheri (West), Mumbai-400053, Maharashtra, India |
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Date of Birth/Age : |
17.11.1981 |
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Date of Appointment : |
01.04.2014 |
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PAN No.: |
ANVPK0266A |
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DIN No.: |
02302364 |
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Name : |
Dr. Nikhil Arun Kelkar |
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Designation : |
Managing Director |
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Address : |
1102, Dheeraj Gaurav Heights, Tower 1, Adarsh Nagar, Andheri (West), Mumbai-400053, Maharashtra, India |
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Date of Birth/Age : |
16.12.1978 |
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Date of Appointment : |
01.04.2017 |
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PAN No.: |
AGYPK7281K |
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DIN No.: |
02302369 |
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Name : |
Mrs. Anuradha Arun Kelkar |
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Designation : |
Whole-Time Director |
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Address : |
1102, Dheeraj Gaurav Heights - I, Behind Hyundai Showroom Off Link Road, Adarsh Nagar, Andheri (West), Mumbai-400053, Maharashtra, India |
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Date of Birth/Age : |
24.05.1958 |
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Date of Appointment : |
01.04.2014 |
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PAN No.: |
AGTPK7406R |
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DIN No.: |
00177072 |
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Name : |
Mr. Subhash Kelkar |
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Designation : |
Director |
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Address : |
Flat No. 3, Dharmraj Plaza, Old Gangapur Naka, Gangapur Road, Nashik-422005, Maharashtra, India |
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Date of Birth/Age : |
28.07.1959 |
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Date of Appointment : |
01.04.2014 |
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PAN No.: |
AHAPK5876F |
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DIN No.: |
00177280 |
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Name : |
Mr. Aditya Kelkar |
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Designation : |
Director |
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Address : |
Dharamraj Plaza, Old Gangapur Naka, Gangapur Road, Nashik- 422005, Maharashtra, India |
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Date of Birth/Age : |
20.12.1987 |
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Date of Appointment : |
01.07.2014 |
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DIN No.: |
02312705 |
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Name : |
Mr. Mayur Anand Sirdesai |
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Designation : |
Director |
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Address : |
502, Floor 5, Seaside Apartment CHS Limited, P Balu Marg, Prabhadevi, Mumbai 400025, Maharashtra, India |
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Date of Birth/Age : |
02.08.1965 |
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Date of Appointment : |
26.11.2016 |
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DIN No.: |
02830863 |
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Name : |
Dr. Vijay Kumar Ramteke |
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Designation : |
Director |
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Address : |
Type VI/40, Railway Officers Enclave, San Martin Marg, Chanakyapuri, Delhi-110021, India |
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Date of Birth/Age : |
12.02.1953 |
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Date of Appointment : |
06.03.2013 |
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PAN No.: |
AANPR4722M |
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DIN No.: |
06546136 |
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Name : |
Mr. Vinay Onkarrao Deshmukh |
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Designation : |
Director |
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Address : |
12-B, Eden Woods, Cedar House, Co-Operative Housing Society, Eden Woods, Smt. Gladys, Alwares Marg, Off Pokhran, Mumbai-400610, Maharashtra, India |
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Date of Birth/Age : |
27.05.1952 |
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Date of Appointment : |
04.06.2016 |
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DIN No.: |
07535258 |
KEY EXECUTIVES
|
Name : |
Ms. Surabhi Rammurti Dubey |
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Designation : |
Company Secretary |
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Address : |
36/107, Aakarshan CHS Limited, Shivaji Raje Complex, Opposite Ekta Nagar, Kandivali (West), Mumbai-400067, Maharashtra, India |
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Date of Appointment : |
02.05.2016 |
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PAN No.: |
ANQPD7025D |
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|
Name : |
Mr. Kailash |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Arun Kelkar |
24346406 |
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Subhash Kelkar |
24188993 |
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Anuradha Kelkar |
9053059 |
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Nikhil Kelkar |
21216068 |
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Vikram Kelkar |
25945044 |
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Nutan Kelkar |
3608142 |
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Aditya Kelkar |
1526092 |
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Mayur Sirdesai |
100 |
|
Somerset Indus Healthcare Fund |
1000 |
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Total |
109884904 |
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Names of Shareholders (Compulsorily Convertible Preference Shares) |
No. of Shares |
|
Mayur Sirdesai |
73156 |
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Somerset Indus Healthcare Fund |
12135056 |
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Total |
12208212 |
Equity Share Break up (Percentage of Total Equity)
AS ON 22.09.2016
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading and manufacturing of neutraceuticals and dietary supplements. [Registered Activity] |
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Products / Services
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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 |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
· Deutsche Bank AG, Block B1 Nirlon Knowledge Park Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India ·
Corporation Bank, SME Marol Branch,
Andheri(East), Bonanza Sahar Plaza, Andheri-Kurla Road, Andheri –East, Mumbai
– 400059, Maharashtra, India |
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Facilities : |
(INR
In Million)
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Auditors : |
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Name : |
Bhuwania and Agrawal Associates Chartered Accountants |
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Address : |
503/505, J S Sheth Road, Cheera Bazar, 1st Floor, Mumbai – 400002, Maharashtra, India |
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PAN No.: |
AAAFB5922E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company: |
· Hexagon Nutrition (Exports) Private Limited, India [U15139TN2012PTC086911] · Hexagon Nutrition (International) Private Limited, India [U15146TN2012PTC089163] · Nutralytica Research Private Limited, India [U74120MH2014PTC258965] |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· Sunrise Nutrition Private Limited, India [U74120MH2011PTC219924] |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
INR 1/- each |
INR 125.000 Million |
|
12500000 |
Preference Shares |
INR 10/- each |
INR 125.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 250.000
Million |
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
109884904 |
Equity Shares |
INR 1/- each |
INR 109.885 Million |
|
12208212 |
Preference Shares |
INR 10/- each |
INR 122.082 Million |
|
|
|
|
|
|
|
Total |
|
INR 231.967
Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
231.967 |
109.884 |
89.952 |
|
(b) Reserves and Surplus |
287.877 |
174.454 |
145.234 |
|
(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) |
519.844 |
284.338 |
235.186 |
|
|
|
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|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
84.676 |
75.734 |
81.987 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.673 |
2.777 |
3.853 |
|
Total Non-current
Liabilities (3) |
88.349 |
78.511 |
85.840 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
68.648 |
79.995 |
121.679 |
|
(b) Trade
payables |
146.885 |
113.416 |
121.181 |
|
(c) Other current
liabilities |
93.202 |
75.743 |
108.348 |
|
(d) Short-term
provisions |
4.025 |
7.142 |
4.100 |
|
Total Current
Liabilities (4) |
312.760 |
276.296 |
355.308 |
|
|
|
|
|
|
TOTAL |
920.953 |
639.145 |
676.334 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
247.607 |
258.146 |
132.610 |
|
(ii)
Intangible Assets |
12.117 |
17.372 |
20.378 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
94.806 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
74.077 |
74.077 |
128.537 |
|
(c) Deferred tax assets (net) |
7.951 |
1.252 |
2.092 |
|
(d)
Long-term loans and advances |
2.877 |
1.196 |
0.764 |
|
(e) Other Non-current
assets |
0.232 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
344.861 |
352.043 |
379.187 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
49.356 |
0.000 |
0.000 |
|
(b)
Inventories |
170.510 |
95.380 |
120.089 |
|
(c) Trade
receivables |
173.747 |
127.526 |
81.264 |
|
(d) Cash and
bank balances |
98.546 |
14.451 |
20.686 |
|
(e)
Short-term loans and advances |
83.610 |
49.745 |
75.108 |
|
(f) Other
current assets |
0.323 |
0.000 |
0.000 |
|
Total
Current Assets |
576.092 |
287.102 |
297.147 |
|
|
|
|
|
|
TOTAL |
920.953 |
639.145 |
676.334 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
762.009 |
676.163 |
491.183 |
|
|
Other Income |
7.060 |
2.717 |
2.173 |
|
|
TOTAL |
769.069 |
678.880 |
493.356 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
392.602 |
348.148 |
282.459 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(51.411) |
3.485 |
(3.919) |
|
|
Employee benefit expense |
135.009 |
65.747 |
53.714 |
|
|
CSR expenditure |
0.056 |
0.823 |
0.350 |
|
|
Other expenses |
261.069 |
190.079 |
111.604 |
|
|
Extraordinary items before tax |
0.000 |
0.000 |
0.089 |
|
|
TOTAL |
737.325 |
608.282 |
444.297 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
31.744 |
70.598 |
49.059 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.314 |
22.682 |
18.341 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
15.430 |
47.916 |
30.718 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
35.214 |
33.497 |
20.118 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(19.784) |
14.419 |
10.600 |
|
|
|
|
|
|
|
Less |
TAX |
(5.243) |
17.355 |
(2.532) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(14.541) |
(2.936) |
13.132 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
(0.13) |
(0.03) |
0.24 |
|
|
Diluted |
(0.12) |
(0.03) |
0.24 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
8.482 |
6.260 |
6.500 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(99.360) |
(0.654) |
16.393 |
|
Net cash flows from (used in) operating activities |
(99.167) |
(8.618) |
7.894 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
83.22 |
68.84 |
60.39 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.39 |
5.30 |
6.04 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
136.56 |
118.91 |
156.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.19 |
0.74 |
0.41 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.12 |
0.26 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.44 |
0.56 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.31 |
0.57 |
0.89 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.60 |
0.97 |
1.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.50 |
0.97 |
1.05 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.95 |
3.11 |
2.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(1.91) |
(0.43) |
2.67 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.58) |
(0.46) |
1.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(2.80) |
(1.03) |
5.58 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.84 |
1.04 |
0.84 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.30 |
0.69 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.56 |
0.44 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.70 |
1.47 |
2.34 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.84 |
1.04 |
0.84 |
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 |
89.952 |
109.884 |
231.967 |
|
Reserves & Surplus |
145.234 |
174.454 |
287.877 |
|
Net
worth |
235.186 |
284.338 |
519.844 |
|
|
|
|
|
|
Long-term borrowings |
81.987 |
75.734 |
84.676 |
|
Short term borrowings |
121.679 |
79.995 |
68.648 |
|
Current maturities of
long-term debts |
6.500 |
6.260 |
8.482 |
|
Total
borrowings |
210.166 |
161.989 |
161.806 |
|
Debt/Equity
ratio |
0.894 |
0.570 |
0.311 |
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 |
491.183 |
676.163 |
762.009 |
|
|
|
37.660 |
12.696 |
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 |
491.183 |
676.163 |
762.009 |
|
Profit/ (Loss) |
13.132 |
(2.936) |
(14.541) |
|
|
2.67
% |
(0.43
%) |
(1.91
%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
231.967 |
109.884 |
|
(b) Reserves and Surplus |
|
601.027 |
413.539 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
832.994 |
523.423 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
110.712 |
106.559 |
|
(b) Deferred tax liabilities (Net) |
|
3.482 |
3.835 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
4.911 |
4.884 |
|
Total Non-current
Liabilities (3) |
|
119.105 |
115.278 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
136.224 |
169.526 |
|
(b) Trade
payables |
|
304.312 |
157.327 |
|
(c) Other
current liabilities |
|
68.204 |
56.877 |
|
(d) Short-term
provisions |
|
48.755 |
42.435 |
|
Total Current
Liabilities (4) |
|
557.495 |
426.165 |
|
|
|
|
|
|
TOTAL |
|
1509.594 |
1064.866 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
457.043 |
457.402 |
|
(ii)
Intangible Assets |
|
12.935 |
17.475 |
|
(iii) Tangible assets
capital work-in-progress |
|
11.589 |
17.931 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.003 |
0.003 |
|
(c) Deferred tax assets (net) |
|
9.114 |
1.317 |
|
(d)
Long-term loans and advances |
|
4.007 |
1.719 |
|
(e) Other
Non-current assets |
|
0.232 |
0.000 |
|
Total Non-Current
Assets |
|
494.923 |
495.847 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
49.356 |
0.000 |
|
(b)
Inventories |
|
346.923 |
145.533 |
|
(c) Trade
receivables |
|
353.578 |
300.809 |
|
(d) Cash and
bank balances |
|
149.658 |
30.113 |
|
(e)
Short-term loans and advances |
|
114.777 |
92.564 |
|
(f) Other
current assets |
|
0.379 |
0.000 |
|
Total
Current Assets |
|
1014.671 |
569.019 |
|
|
|
|
|
|
TOTAL |
|
1509.594 |
1064.866 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1396.145 |
1219.829 |
|
|
Other Income |
|
9.451 |
5.026 |
|
|
TOTAL |
|
1405.596 |
1224.855 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
810.788 |
688.592 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(85.119) |
(2.779) |
|
|
Employee benefit expense |
|
187.525 |
101.519 |
|
|
CSR expenditure |
|
1.160 |
1.559 |
|
|
Other expenses |
|
304.009 |
216.045 |
|
|
TOTAL |
|
1218.363 |
1004.936 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
187.233 |
219.919 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
23.363 |
39.920 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
163.870 |
179.999 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
66.363 |
53.371 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
97.507 |
126.628 |
|
|
|
|
|
|
|
Less |
TAX |
|
37.983 |
54.136 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
59.524 |
72.492 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
0.54 |
0.70 |
|
|
Diluted |
|
0.49 |
0.70 |
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 |
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 |
OPERATIONS AND FUTURE OUTLOOK OF THE
COMPANY
During the year company had added a new division “Hexagon Nutrition –Wellness” in July 2016, with a vision to progress all-round in the Clinical Nutritional Space at OTC level. This division had seen a substantial investment being made in the Human Resource and Planned Promotional Expenses. Further Company has made the Private Equity Investment, and the company had incurred the Due Diligence Expenses and Legal Expenses to the tune of INR 10.000 Million. Due to this specified futuristic investment in this division the Company during the year had seen an Investment Loss of INR 46.000 Million. So if the performance in overall needs to be judged for Hexagon Nutrition Private Limited then we can say that there is a better performance being shown in the Standalone Level by absorbing this Loss as well as Due Diligence Expenses and then showing the profit of INR 36.200 Million at PBT level. However during the year Company has incurred a Loss of INR (14.541 Million) as compared to loss of INR (2.936 Million) in previous year.
Further Company intend to make a system based and individual independent management of all the manufacturing plants of Hexagon Nutrition. There has been excellent co-operation from all directors in this initiative, capacity utilization and reduction of the fixed overheads will be the priority in the coming months. This is achievable by good order book position for the exports.
UNSECURED LOANS:
(INR
In Million)
|
PARTICULARS |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Other loans and advances, others |
0.000 |
13.552 |
|
|
|
|
|
Total |
0.000 |
13.552 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G76356427 |
100156204 |
HDFC BANK LIMITED |
05/01/2018 |
- |
- |
87500000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARG LOWER PAREL (W) MUMBAI MH400013IN |
|
2 |
G35323419 |
100080010 |
HDFC BANK LIMITED |
01/09/2016 |
- |
- |
900000.0 |
HDFC BANK HOUSE , SENAPATI BAPAT MARG LOWER PAREL (WEST) MUMBAI MH400013IN |
|
3 |
B64261183 |
10392296 |
CITI BANK N.A. |
03/11/2012 |
- |
- |
120000000.0 |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60 BANDRA KURLA COMPLEX, BANDRA (E) MUMBAI MH400051IN |
|
4 |
B41138173 |
10359462 |
CITIBANK N. A. |
05/06/2012 |
- |
- |
70000000.0 |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60 BANDRA KURLA COMPLEX, BANDRA (E) MUMBAI MH400051IN |
|
5 |
B41447723 |
10360205 |
CITIBANK N. A. |
16/05/2012 |
- |
- |
70000000.0 |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60BANDRA KURLA COMPLEX, BANDRA (E) MUMBAI MH400051IN |
|
6 |
B61972816 |
10352863 |
CITI BANK N.A. |
13/04/2012 |
16/11/2012 |
- |
120000000.0 |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60BANDRA KURLA COMPLEX, BANDRA (E) MUMBAIMH400051IN |
|
7 |
G15442445 |
10011539 |
CORPORATION BANK |
15/07/2006 |
18/04/2016 |
- |
70000000.0 |
SME MAROL BRANCH,ANDHERI(E),BONANZA SAHAR PLAZA,ANDHERI-KURLA ROAD, ANDHERI –EAST MUMBAIMH400059IN |
|
8 |
G72798796 |
10556836 |
DEUTSCHE BANK AG |
26/02/2015 |
- |
07/12/2017 |
87500000.0 |
P. O. BOX NO. 9080GOREGAON EAST MUMBAI MH400063IN |
|
9 |
G72798697 |
100052670 |
DEUTSCHE BANK AG |
30/07/2016 |
- |
07/12/2017 |
17500000.0 |
BLOCK B1 NIRLON KNOWLEDGE PARKWESTERN EXPRESS HIGHWAY, GOREGAON (E) MUMBAI MH400063IN |
|
10 |
G02750636 |
10013187 |
ORIENTAL BANK OF COMMERCE |
25/05/2006 |
- |
26/09/2014 |
13500000.0 |
BANDRA WEST BRANCH, MAHATMA GANDHI SEVA MANDIRTRUST BLGD, S. V. ROAD, OPP. TALAO, BANDRA (WEST), MUMBAI MH400050IN |
FIXED ASSETS:
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· 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 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 67.38 |
|
|
1 |
INR 91.39 |
|
Euro |
1 |
INR 79.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
NKT |
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.