|
|
|
MIRA INFORM REPORT
|
Report No. : |
509435 |
|
Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
CRESCENT ORGANICS PRIVATE LIMITED
|
|
|
|
|
Registered
Office : |
Windsor, 2nd Floor, CST Road, Kalina, Santacruz (East), Mumbai
– 400098, Maharashtra |
|
Tel. No.: |
91-22-67033555 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
08.02.1991 |
|
|
|
|
Com. Reg. No.: |
11-060197 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 78.820 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1991PTC060197 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0392029316 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACC1690D1Z0 |
|
|
|
|
TIN No.: |
27690001945 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
aaacc1690D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in indenting, trading, import and export of organic and inorganic chemicals like Methanol, Acetic acid, Propylene Glycol, Toluene, Styrene Monomer among others. [Registered Activity] |
|
|
|
|
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1991 and is engaged in manufacturing and trading of industrial solvents and polymer products. Its products include acetic acid glacial, benzene, ethyl acetate, ISO butanol, solvent, poly carbonate and polyvinyl chloride. Management has not filed its financial record with government department for the year 2017 and same are not available from any other sources. For the financial year ended 2016, revenue of the company has declined by 30.84% and has reported low profit margin of 0.41% during the year under review. Rating reflects an established market position in the chemicals trading industry experience of the promoters of the group and steady demand for its products driven by a diversified client base. The company’s sound financial profile is reflected by its average solvency indicators due to low debt balance sheet profile along with sound networth base and moderate liquidity position. However, rating strength is partially offset by intense industry competition and susceptibility of the operating margin to volatility in chemical prices and forex rates and absence of latest financial records. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
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 Loans = BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
22.08.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loans = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
22.08.2017 |
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 15.05.2018
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
Management Non-Cooperative (91-22-67033555)
91-9594462384 - Continuously Busy
LOCATIONS
|
Registered / Head Office : |
Windsor, 2nd Floor, CST Road, Kalina, Santacruz (East), Mumbai
– 400098, Maharashtra, India |
|
Tel. No.: |
91-22-67033555 |
|
Mobile No.: |
91-9594462384 (Mr. Ketan Tanha) |
|
Fax No.: |
91-22-67033556 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office: |
Unit No. 5-E, Offtel Tower, R C Dutt Road, Vadodara – 390005, Gujarat,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Gunvantrai Dipchand Shah |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Deep Ashish, 372 A and B, Shantabai Amre Marg, Off 9th Road, Chembur,
Mumbai – 400071, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
01.05.1939 |
||||||||||||||||
|
Date of Appointment : |
01.01.1992 |
||||||||||||||||
|
PAN No.: |
AAIPS5085R |
||||||||||||||||
|
DIN No.: |
00056111 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Ashit Gunvantrai Shah |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Deep Ashish, 372 A and B, Shantabai Amre Marg, Off 9th
Road, Chembur, Mumbai – 400071, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
05.01.1963 |
||||||||||||||||
|
Date of Appointment : |
01.01.1992 |
||||||||||||||||
|
PAN No.: |
AAAHA1926K |
||||||||||||||||
|
DIN No.: |
00056229 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Dilip Pranlal Sheth |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
1201/1202, Sai Vaibhav, R B Mehta Marg, jhulelal Chowk, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
04.04.1962 |
||||||||||||||||
|
Date of Appointment : |
30.09.2009 |
||||||||||||||||
|
DIN No.: |
00056982 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Aditya Ashit Shah |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Deep Ashish, 372
A and B, Shantabhai Amre Marg, Off 9th Road, Chembur, Mumbai –
400071, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
17.11.1989 |
||||||||||||||||
|
Date of Appointment : |
29.09.2012 |
||||||||||||||||
|
PAN No.: |
BIEPS5021G |
||||||||||||||||
|
DIN No.: |
03343078 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Dilip Bharadiya and Associates |
|
Designation : |
Company Secretary |
|
Address : |
434, Neo Corporate Plaza, Kanchpada, Malad West, Mumbai-400064, Maharashtra, India |
|
Tel No. : |
91-22-28883756 |
|
Mobile No.: |
91-98202 90360 |
|
Email: |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
G D Shah |
|
250665 |
|
Kokila G Shah |
|
12489 |
|
Ashit G Shah |
|
107508 |
|
Kavita A Shah |
|
12489 |
|
Aditya A Shah |
|
151860 |
|
Anushka A Shah |
|
36162 |
|
G D Shah HUF |
|
77 |
|
A G Shah HUF |
|
66494 |
|
Dilip P Sheth |
|
17923 |
|
Sapna D Sheth |
|
26833 |
|
Abhishek D Sheth |
|
6720 |
|
Sejal N Shah |
|
33575 |
|
Ayush N Shah |
|
6250 |
|
Anaisha N Shah |
|
7100 |
|
Nitin M Shah (HUF) |
|
690 |
|
Mukesh I Doshi |
|
35719 |
|
Aarti M Doshi |
|
4337 |
|
Pratik I Doshi |
|
23 |
|
Pooja M Doshi |
|
15 |
|
Ranjan I Doshi |
|
10615 |
|
Mukesh I Doshi
(HUF) |
|
653 |
|
|
|
|
|
Total |
|
788197 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided Family
(Indian)] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in indenting, trading, import and export of organic and inorganic chemicals like Methanol, Acetic acid, Propylene Glycol, Toluene, Styrene Monomer among others. [Registered Activity] |
||||||
|
|
|
||||||
|
Products / Services
: |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
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Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
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 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Chhajed and Doshi Chartered Accountants |
|
Address : |
5/6, Western Prabhadevi Co-operative Housing Society, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
PAN No.: |
ACUPC1012C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
· Kemsol Limited, BVI · Crescent Innovative Packaging Private Limited, India [U25199MH2011PTC216932] · Crescent Power Solutions Private Limited, India [U40104MH2014PTC256798] |
|
|
|
|
Associate Company : |
· Crescent Water Solutions Private Limited, India [U41000MH2015PTC268610] |
|
|
|
|
Other related
parties : |
· Crescent Chemicals (Partnership Firm) · G. D. Shah Charitable Trust · G. D. Shah (HUF) · Ashit G. Shah (HUF) |
CAPITAL STRUCTURE
AS ON 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1350000 |
Equity Shares |
INR 100/- each |
INR 135.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
788197 |
Equity Shares |
INR 100/- each |
INR 78.820 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF
FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
78.820 |
78.820 |
78.820 |
|
(b) Reserves & Surplus |
421.524 |
411.409 |
392.864 |
|
(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) |
500.344 |
490.229 |
471.684 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2.417 |
0.388 |
0.664 |
|
(b) Deferred tax liabilities (Net) |
1.473 |
2.651 |
2.525 |
|
(c) Other long term
liabilities |
0.040 |
0.040 |
3.299 |
|
(d) Long-term
provisions |
1.908 |
1.262 |
8.539 |
|
Total Non-current
Liabilities (3) |
5.838 |
4.341 |
15.027 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
241.588 |
329.054 |
509.361 |
|
(b) Trade
payables |
478.553 |
657.176 |
917.557 |
|
(c) Other
current liabilities |
41.699 |
46.817 |
60.708 |
|
(d) Short-term
provisions |
0.828 |
1.053 |
1.046 |
|
Total Current
Liabilities (4) |
762.668 |
1034.100 |
1488.672 |
|
|
|
|
|
|
TOTAL |
1268.850 |
1528.670 |
1975.383 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
78.104 |
75.452 |
84.050 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
224.923 |
221.767 |
173.519 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
12.697 |
14.313 |
11.976 |
|
(e) Other
Non-current assets |
0.254 |
0.254 |
0.204 |
|
Total Non-Current
Assets |
315.978 |
311.786 |
269.749 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.539 |
4.317 |
9.280 |
|
(b)
Inventories |
224.881 |
428.242 |
315.541 |
|
(c) Trade
receivables |
504.961 |
504.149 |
1016.963 |
|
(d) Cash
and cash equivalents |
41.567 |
70.248 |
136.706 |
|
(e)
Short-term loans and advances |
180.924 |
209.928 |
227.130 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.014 |
|
Total
Current Assets |
952.872 |
1216.884 |
1705.634 |
|
|
|
|
|
|
TOTAL |
1268.850 |
1528.670 |
1975.383 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
2451.922 |
3545.420 |
4149.263 |
|
|
|
|
Other Income |
54.489 |
26.000 |
13.211 |
|
|
|
|
TOTAL |
2506.411 |
3571.420 |
4162.474 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Purchase of Stock-in-trade |
2038.569 |
3435.313 |
3495.653 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
203.360 |
(112.750) |
402.049 |
|
|
|
|
Employee Benefits Expenses |
58.866 |
59.347 |
52.501 |
|
|
|
|
Other Expenses |
94.775 |
97.779 |
87.512 |
|
|
|
|
Exceptional items |
0.000 |
0.000 |
4.939 |
|
|
|
|
TOTAL |
2395.570 |
3479.689 |
4042.654 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
110.841 |
91.731 |
119.820 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
92.594 |
65.315 |
94.973 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
18.247 |
26.416 |
24.847 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
6.810 |
6.216 |
8.092 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
11.437 |
20.200 |
16.755 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
1.322 |
(0.996) |
14.155 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) AFTER
TAX |
10.115 |
21.196 |
2.600 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB value of traded goods exported |
66.836 |
73.169 |
15.078 |
|
|
|
|
Earnings on other income |
67.384 |
104.781 |
121.928 |
|
|
|
TOTAL EARNINGS |
134.220 |
177.950 |
137.006 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Capital Goods |
1330.483 |
2484.825 |
2630.547 |
|
|
|
TOTAL IMPORTS |
1330.483 |
2484.825 |
2630.547 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
12.83 |
26.89 |
3.30 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
7.892 |
5.279 |
0.965 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
118.749 |
211.311 |
179.547 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection
Days (Sundry Debtors /
Income * 365 Days) |
75.17 |
51.90 |
89.46 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.86 |
7.03 |
4.08 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
85.68 |
69.82 |
95.81 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.49 |
0.21 |
0.38 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.42 |
1.22 |
1.43 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.61 |
0.68 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.50 |
0.68 |
1.08 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.52 |
2.11 |
3.16 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.16 |
0.15 |
0.18 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.20 |
1.40 |
1.26 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
0.41 |
0.60 |
0.06 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.80 |
1.39 |
0.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.02 |
4.32 |
0.55 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets /
Current Liabilities) |
1.25 |
1.18 |
1.15 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.95 |
0.76 |
0.93 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.39 |
0.32 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.20 |
4.25 |
6.48 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.25 |
1.18 |
1.15 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are in
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
78.820 |
78.820 |
78.820 |
|
Reserves & Surplus |
392.864 |
411.409 |
421.524 |
|
Net worth |
471.684 |
490.229 |
500.344 |
|
|
|
|
|
|
Long Term borrowings |
0.664 |
0.388 |
2.417 |
|
Short Term borrowings |
509.361 |
329.054 |
241.588 |
|
Current Maturities of Long term debt |
0.965 |
5.279 |
7.892 |
|
Total
borrowings |
510.990 |
334.721 |
251.897 |
|
Debt/Equity
ratio |
1.083 |
0.683 |
0.503 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
4149.263 |
3545.420 |
2451.922 |
|
|
|
(14.553) |
(30.843) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
4149.263 |
3545.420 |
2451.922 |
|
Profit/(Loss) |
2.600 |
21.196 |
10.115 |
|
|
0.06% |
0.60% |
0.41% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
78.820 |
78.820 |
|
(b) Reserves &
Surplus |
761.434 |
300.827 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Minority interest |
337.949 |
1.141 |
|
Total Shareholders’ Funds
(1) + (2) |
1178.203 |
380.788 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
184.829 |
231.295 |
|
(b) Deferred tax
liabilities (Net) |
1.473 |
2.651 |
|
(c) Other long term
liabilities |
0.040 |
0.040 |
|
(d) long-term provisions |
27.700 |
2.008 |
|
Total Non-current
Liabilities (3) |
214.042 |
235.994 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
654.540 |
496.804 |
|
(b) Trade payables |
771.311 |
699.054 |
|
(c) Other current
liabilities |
69.923 |
50.550 |
|
(d) Short-term provisions |
0.828 |
1.052 |
|
Total Current Liabilities
(4) |
1496.602 |
1247.460 |
|
|
|
|
|
TOTAL |
2888.847 |
1864.242 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
629.536 |
552.689 |
|
(ii) Intangible Assets |
0.349 |
0.478 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
|
(b) Non-current
Investments |
3.237 |
76.562 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.127 |
15.663 |
|
(e) Other Non-current
assets |
42.876 |
18.701 |
|
Total Non-Current Assets |
690.125 |
664.093 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.539 |
4.317 |
|
(b) Inventories |
517.413 |
510.621 |
|
(c) Trade receivables |
1520.985 |
549.099 |
|
(d) Cash and cash
equivalents |
107.303 |
74.514 |
|
(e) Short-term loans and
advances |
46.048 |
61.598 |
|
(f) Other current assets |
6.434 |
0.000 |
|
Total Current Assets |
2198.722 |
1200.149 |
|
|
|
|
|
TOTAL |
2888.847 |
1864.242 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
Income |
6024.514 |
4253.396 |
|
|
Other Income |
64.318 |
33.409 |
|
|
TOTAL |
6088.832 |
4286.805 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
449.739 |
434.339 |
|
|
Purchases of
Stock-in-Trade |
4668.170 |
3528.338 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
197.894 |
(106.394) |
|
|
Employees benefits
expense |
187.673 |
91.000 |
|
|
Other expenses |
413.920 |
228.340 |
|
|
TOTAL |
5917.396 |
4175.623 |
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
171.436 |
111.182 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
132.664 |
89.216 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
38.772 |
21.966 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
72.506 |
62.607 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(33.734) |
(40.641) |
|
|
|
|
|
|
Less |
TAX |
1.322 |
(0.996) |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(35.056) |
(39.645) |
|
|
|
|
|
|
Add /
Less |
MINORITY INTEREST |
0.000 |
3.648 |
|
|
|
|
|
|
|
TOTAL PROFIT / (LOSS) FOR PERIOD |
(35.056) |
(35.997) |
LEGAL CASES
|
HIGH COURT OF
BOMBAY
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
HIGH COURT OF
BOMBAY
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
"Crescent Organics Private Limited (COPL) (A company belonging to Crescent Group) was incorporated in 1991. The company is engaged in indenting, trading, import and export of organic and inorganic chemicals like Methanol, Acetic acid, Propylene Glycol, Toluene, Styrene Monomer among others.
The company has an export presence in Middle East and Africa. The Company has one subsidiary Kemsol Limited in UAE and two subsidaries in India namely Cresent Innovative Packaging Private Limited (Manufacturer of Box Bottom Welded Bags) and Crescent Power Solutions Private Limited (Dealing in energy saving equipment and other energy equipment)."
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from others |
100.450 |
55.640 |
|
|
|
|
|
Total |
100.450 |
55.640 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G41807512 |
100092048 |
STANDARD CHARTERED BANK |
28/03/2017 |
- |
- |
300000000.0 |
CRESCENZO, 3A/F, PLOT NO C-38 & 39G- BLOCK, BANDRA KURLA COMPLEX, MUMBAI MH400051IN |
|
2 |
B05183207 |
10265990 |
STANDARD CHARTERED BANK |
21/01/2011 |
- |
- |
620000000.0 |
90, M G ROAD, FORT MUMBAI MH400001IN |
|
3 |
C11399607 |
10265141 |
UNION BANK OF INDIA |
21/01/2011 |
29/05/2014 |
- |
2400000000.0 |
SION BRANCH, SUNITA APARTMENT,169/B, SION (EAST), MUMBAI MH400022IN |
|
4 |
C16626236 |
10266010 |
STANDARD CHARTERED BANK |
21/01/2011 |
29/05/2014 |
- |
870000000.0 |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST MUMBAI MH400051IN |
|
5 |
B05254222 |
10164509 |
UNION BANK OF INDIA |
30/06/2009 |
04/02/2011 |
- |
50000000.0 |
SION BRANCH, SUNITA APARTMENTS, 169/B, SION (EAST), MUMBAI MH400022IN |
|
6 |
B05251798 |
10164508 |
UNION BANK OF INDIA |
30/06/2009 |
21/01/2011 |
- |
50000000.0 |
SION BRANCH, SUNITA APARTMENTS, 169/B, SION (EAST), MUMBAI MH400022IN |
|
7 |
C11397965 |
10164510 |
UNION BANK OF INDIA |
30/06/2009 |
01/12/2013 |
- |
250000000.0 |
SION BRANCH, SUNITA APARTMENT,169/B, SION (EAST), MUMBAI MH400022IN |
|
8 |
C16622631 |
10163690 |
STANDARD CHARTERED BANK |
19/06/2009 |
29/05/2014 |
- |
300000000.0 |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST MUMBAI MH400051IN |
|
9 |
B41322132 |
10159252 |
UNION BANK OF INDIA |
06/04/2009 |
25/05/2012 |
- |
1850000000.0 |
SION BRANCH, SUNITA APARTMENT,169/B, SION (EAST), MUMBAI MH400022IN |
|
10 |
A34957696 |
10093888 |
STANDARD CHARTERED BANK |
24/03/2008 |
- |
- |
160000000.0 |
90, M G ROAD, FORT MUMBAI MH400001IN |
FIXED ASSETS:
·
Land
·
Office building
·
Plant and Machinery
·
Office equipments
·
Computers
·
Furniture and Fixtures
·
Motor Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 67.22 |
|
|
1 |
INR 90.87 |
|
Euro |
1 |
INR 80.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.