|
|
|
MIRA INFORM REPORT
|
Report No. : |
512411 |
|
Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DORF-KETAL CHEMICALS INDIA PRIVATE LIMITED |
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|
|
|
Registered
Office : |
1, Dorf Ketal Towers, D’ Monte Street, Orlem, Malad (West), Mumbai –
400064, Maharashtra |
|
Tel. No.: |
91-22-28880420 |
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|
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
|
Date of
Incorporation : |
12.05.1992 |
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|
|
|
Com. Reg. No.: |
11-066726 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 1762.611 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1992PTC066726 |
|
|
|
|
IEC No.: |
0392032937 |
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TIN No.: |
27040288695 |
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GST No.: |
27AAACD3819P1ZB |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACD3819P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Organic and Inorganic Chemicals and Importer of Raw Material. (Registered Activity and also Confirmed by Management) |
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|
No. of Employees
: |
Information declined 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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1992. The company is a part of Dorf Ketal Group. The subject is a manufacturer and exporter of organic and inorganic chemicals. As per the financial records of 2017, the company has achieved a decent growth of 69.35% in its revenue as compared to the previous year’s revenue and has reported an average net profit margin of 3.77%. The company possesses sound financial position marked by healthy net worth base along with strong debt coverage indicator due to low debt balance sheet profile. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Loans=A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
25.09.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loans=A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
25.09.2017 |
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 31.05.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-22-42974832]
Given number [91-22-28880420] incorrect
LOCATIONS
|
Registered /
Headquarter : |
1, Dorf Ketal Tower, D’ Monte Street, Orlem, Malad (West), Mumbai –
400064, Maharashtra, India |
|
Tel. No.: |
91-22-28880421/ 422/ 423/ 42974777/
42974832 |
|
Mobile No.: |
91-9004693671 [Mr. Ashok Rao] |
|
Fax No.: |
91-22-28813655/ 28882366 |
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E-Mail : |
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|
Website : |
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|
Factory : |
W-165, MIDC, Taloja Chemical Zone, Taluka Panvel, District Raigad,
Maharashtra, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Sudhir Vijay Menon |
|
Designation : |
Managing Director |
|
Address : |
5/501, Swapna Lok, Marve Road, Malad (West), Mumbai – 400064,
Maharashtra, India |
|
Date of Birth/Age : |
27.06.1963 |
|
Qualification : |
Degree in Science |
|
Date of Appointment : |
09.07.1995 |
|
PAN No.: |
AAJPM4604R |
|
DIN No.: |
02487658 |
|
|
|
|
Name : |
Mr. Aniparambil Vijayaraghava Menon |
|
Designation : |
Director |
|
Address : |
203, Swing Marve Road, Malad (West), Mumbai
– 400064, Maharashtra, India |
|
Date of Birth/Age : |
23.07.1932 |
|
Qualification : |
Law Graduate |
|
Date of Appointment : |
26.02.1996 |
|
PAN No.: |
AADPM5484B |
|
DIN No.: |
00019770 |
|
|
|
|
Name : |
Mr. Subodh Vijayaraghava Menon |
|
Designation : |
Director |
|
Address : |
401, Swapna Lok, Marve Road, Malad (West), Mumbai – 400064,
Maharashtra, India |
|
Date of Birth/Age : |
08.08.1971 |
|
Qualification : |
Chemistry graduate |
|
Date of Appointment : |
12.05.1992 |
|
PAN No.: |
AAAPM6916D |
|
DIN No.: |
00972842 |
|
|
|
|
Name : |
Mr. Perumangode Neelkandhan Ramaswamy |
|
Designation : |
Director |
|
Address : |
501, Sand Pebble Off, Veera Desai Road, 3rd
Azad Lane, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
22.12.1970 |
|
Qualification : |
Bachelor degree in Chemical Engineering. |
|
Date of Appointment : |
12.05.1992 |
|
PAN No.: |
AAAPR4696R |
|
DIN No.: |
02480775 |
|
|
|
|
Name : |
Mrs. Padmaja Vijayraghavan Menon |
|
Designation : |
Director |
|
Address : |
203, Swing Building, Opposite Nutun School,
Marve Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1940 |
|
Qualification : |
Arts Graduate |
|
Date of Appointment : |
26.02.1996 |
|
PAN No.: |
AMIPM8138M |
|
DIN No.: |
02501009 |
|
|
|
|
Name : |
Mr. Mahesh Subramanyya Subramaniyam |
|
Designation : |
Director |
|
Address : |
A/3, 104 Raunat Park, Konkani Pada, Pohhram Road No. 2, Thane (West), Thane – 400610, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1968 |
|
Qualification : |
Doctorate in Polymer Chemistry from IIT Bombay |
|
Date of Appointment : |
31.03.2003 |
|
PAN No.: |
AKJPS5615A |
|
DIN No.: |
02507158 |
|
|
|
|
Name : |
Mr. Pramod Menon |
|
Designation : |
Director |
|
Address : |
701, 7th Floor, Sand Pebble Off,
Veera Desai Road, 3rd Azad Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
|
Date of Birth/Age : |
04.01.1967 |
|
Qualification : |
Bcom & MBA |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AAHPM718P |
|
DIN No.: |
02529703 |
|
|
|
|
Name : |
Mr. Akhilesh Bramhaprakash Bhargava |
|
Designation : |
Director |
|
Address : |
101, Gautam Parag Society, Green Road,Lewis Wadi, Thane (West) – 400604,
Maharashtra, India |
|
Date of Birth/Age : |
25.08.1956 |
|
Qualification : |
M. Tech from IIT Bombay and B. Tech from IIT Kanpur |
|
Date of Appointment : |
23.01.2012 |
|
PAN No.: |
ABNPB8668B |
|
DIN No.: |
05199030 |
KEY EXECUTIVES
|
Name : |
Ms. Jaini Ankit Shah |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.302, Shiv Prasad C.H.S.L, Kothariwadi, Ramchandra
Lane, Malad (West), Mumbai-400064, Maharashtra, India |
|
Date of Birth/Age : |
25.11.1987 |
|
Qualification : |
Bcom, LLB and CS |
|
Date of Appointment : |
01.06.2016 |
|
PAN No.: |
ARYPD6862E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Sudhir Menon |
11517887 |
65.35 |
|
Subodh Menon |
5863444 |
33.27 |
|
P. N. Ramaswamy |
26235 |
0.15 |
|
A.V. Menon |
4000 |
0.02 |
|
Padmaja Menon |
2040 |
0.01 |
|
Mahesh Subramaniyam |
2500 |
0.01 |
|
Sudhir Menon HUF |
209000 |
1.19 |
|
Pramod Menon |
1000 |
0.01 |
|
|
|
|
|
Total |
17626106 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
98.61 |
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
1.39 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Organic and Inorganic Chemicals. [Registered Activity] |
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Products : |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 declined by the management |
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Bankers : |
· Citi Bank N.A. First International Financial Centre, 9th Floor, Plot No. C-54 & 55, G-Block, BKC, Bandra (East), Mumbai-400051, Maharashtra, India ·
Kotak Mahindra Bank Limited 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India · State Bank of India Industrial Finance Branch, Snehal Chambers, Telli Gally, Andheri (East), Mumbai - 400069, Maharashtra, India · State Bank of India Kandivli Industrial Estate Branch, Kandivli West, Mumbai - 400067, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
S.S. Gajja and Company Chartered Accountants |
|
Address : |
9, Raj Mahal, M.V. Road, Andheri (East), Mumbai – 400069,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS4063K |
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|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
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|
Joint venture: |
· Fobeoz India Private Limited [U15540MH2005PTC153849] · Octel Dorf Ketal (India) Private Limited |
|
|
|
|
Subsidiary company: |
· Dorf Ketal Chemicals AG · Dorf Ketal Chemicals BV · Dorf Ketal Chemicals Brazil Limited · Dorf Ketal Chemicals SDN BHD · Dorf Ketal Chemicals FZE · Dorf Ketal Chemicals Pte Limited · Dorf Ketal Chemical s (SHANGHAI) LTD · Dorf Ketal Chemicals LLC · Dorf Ketal Speciality Catalyst LLC · Dorf Ketal Speciality Catalyst Private Limited · Dorf Ketal BV · Dorf Ketal Chemical s (Malaysia) SDN. BHD · Dorf Ketal Flowchem Energy Services LLC |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25461000 |
Equity Shares |
INR 100/- each |
INR 2546.100 Million |
|
540000 |
Preference share |
INR 10/- each |
INR 5.400 Million |
|
|
Total |
|
INR 2551.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17626106 |
Equity Shares |
INR 100/- each |
INR 1762.611 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
1762.611 |
1762.611 |
1502.995 |
|
(b) Reserves & Surplus |
5695.982 |
2779.505 |
2267.109 |
|
(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) |
7458.593 |
4542.116 |
3770.104 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
894.135 |
85.856 |
218.190 |
|
(b) Deferred tax liabilities (Net) |
164.799 |
169.046 |
179.507 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1058.934 |
254.902 |
397.697 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1219.080 |
712.407 |
1113.742 |
|
(b)
Trade payables |
656.175 |
303.089 |
713.293 |
|
(c)
Other current liabilities |
460.131 |
98.419 |
118.203 |
|
(d)
Short-term provisions |
197.339 |
170.030 |
293.95 |
|
Total
Current Liabilities (4) |
2532.725 |
1283.945 |
2239.188 |
|
|
|
|
|
|
TOTAL |
11050.252 |
6080.963 |
6406.989 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3088.901 |
1266.615 |
1343.715 |
|
(ii)
Intangible Assets |
416.005 |
122.253 |
149.350 |
|
(iii)
Capital work-in-progress |
108.806 |
49.539 |
13.534 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1017.025 |
1837.326 |
553.372 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
1410.094 |
340.701 |
634.043 |
|
(e)
Other Non-current assets |
3.340 |
5.270 |
2.450 |
|
Total
Non-Current Assets |
6044.171 |
3621.704 |
2696.464 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
474.470 |
0.000 |
0.000 |
|
(b)
Inventories |
1128.515 |
434.121 |
594.213 |
|
(c)
Trade receivables |
2446.079 |
1632.706 |
2672.663 |
|
(d)
Cash and cash equivalents |
607.422 |
229.716 |
220.702 |
|
(e)
Short-term loans and advances |
348.942 |
150.997 |
179.318 |
|
(f)
Other current assets |
0.653 |
11.719 |
43.629 |
|
Total
Current Assets |
5006.081 |
2459.259 |
3710.525 |
|
|
|
|
|
|
TOTAL |
11050.252 |
6080.963 |
6406.989 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
7602.888 |
4489.430 |
5674.506 |
|
|
|
Other Income |
263.915 |
203.450 |
256.122 |
|
|
|
TOTAL |
7866.803 |
4692.880 |
5930.628 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4011.809 |
2273.503 |
3172.224 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
2.137 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(108.763) |
47.479 |
(51.654) |
|
|
|
Employees benefits expense |
1595.604 |
1162.315 |
1198.743 |
|
|
|
CSR expenditure |
27.096 |
4.604 |
3.730 |
|
|
|
Other expenses |
1429.861 |
811.756 |
1071.362 |
|
|
|
TOTAL |
6955.607 |
4299.657 |
5396.542 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
911.196 |
393.223 |
534.086 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
97.200 |
66.558 |
103.666 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
813.996 |
326.665 |
430.420 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
447.396 |
165.068 |
133.663 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
366.600 |
161.597 |
296.757 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
80.137 |
47.414 |
87.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
286.463 |
114.183 |
208.881 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of manufactured goods exported |
4639.901 |
1908.466 |
2902.749 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1930.748 |
1187.056 |
1744.367 |
|
|
|
|
|
|
|
|
|
Earnings Per Share
(INR) |
16.25 |
7.28 |
30.10 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
332.152 |
70.603 |
76.034 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(1384.058) |
1381.200 |
492.876 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(1472.128) |
1320.503 |
418.078 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
117.43 |
132.74 |
171.91 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.11 |
2.75 |
2.12 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
59.70 |
48.66 |
82.02 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.81 |
0.91 |
0.90 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.25 |
0.27 |
0.35 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.34 |
0.24 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.33 |
0.19 |
0.37 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.34 |
0.28 |
0.59 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.48 |
0.32 |
0.40 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
9.37 |
5.91 |
5.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.77 |
2.54 |
3.68 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.59 |
1.88 |
3.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.84 |
2.51 |
5.54 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.98 |
1.92 |
1.66 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.53 |
1.58 |
1.39 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.67 |
0.75 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.39 |
0.49 |
0.94 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.98 |
1.92 |
1.66 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1502.995 |
1762.611 |
1762.611 |
|
Reserves & Surplus |
2267.109 |
2779.505 |
5695.982 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3770.104 |
4542.116 |
7458.593 |
|
|
|
|
|
|
long-term borrowings |
218.190 |
85.856 |
894.135 |
|
Short term borrowings |
1113.742 |
712.407 |
1219.080 |
|
Current Maturities of Long
term debt |
76.034 |
70.603 |
332.152 |
|
Total
borrowings |
1407.966 |
868.866 |
2445.367 |
|
Debt/Equity
ratio |
0.373 |
0.191 |
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 |
5674.506 |
4489.430 |
7602.888 |
|
|
|
-20.884 |
69.351 |
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 |
5674.506 |
4489.430 |
7602.888 |
|
Profit |
208.881 |
114.183 |
286.463 |
|
|
3.68% |
2.54% |
3.77% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1762.611 |
1762.611 |
|
(b) Reserves & Surplus |
|
6307.978 |
5642.453 |
|
(c) Minority interest |
|
79.733 |
57.760 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
8150.322 |
7462.824 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
968.713 |
1355.332 |
|
(b) Deferred tax liabilities (Net) |
|
184.298 |
191.831 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
1153.011 |
1547.163 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
2618.394 |
2809.429 |
|
(b)
Trade payables |
|
1072.650 |
714.980 |
|
(c)
Other current liabilities |
|
758.402 |
632.128 |
|
(d)
Short-term provisions |
|
436.946 |
349.129 |
|
Total
Current Liabilities (4) |
|
4886.392 |
4505.666 |
|
|
|
|
|
|
TOTAL |
|
14189.725 |
13515.653 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
3723.069 |
3226.218 |
|
(ii)
Intangible Assets |
|
1292.890 |
1282.018 |
|
(iii)
Capital work-in-progress |
|
113.698 |
674.760 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
13.718 |
5.065 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
685.493 |
682.348 |
|
(e)
Other Non-current assets |
|
3.354 |
11.650 |
|
Total
Non-Current Assets |
|
5832.222 |
5882.059 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
474.470 |
0.000 |
|
(b)
Inventories |
|
2790.315 |
2486.954 |
|
(c)
Trade receivables |
|
2860.180 |
2481.533 |
|
(d)
Cash and cash equivalents |
|
1633.387 |
2168.994 |
|
(e)
Short-term loans and advances |
|
567.968 |
479.643 |
|
(f)
Other current assets |
|
31.183 |
16.470 |
|
Total
Current Assets |
|
8357.503 |
7633.594 |
|
|
|
|
|
|
TOTAL |
|
14189.725 |
13515.653 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
13650.150 |
11775.094 |
|
|
|
Other Income |
|
181.753 |
108.718 |
|
|
|
TOTAL |
|
13831.903 |
11883.812 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
6826.698 |
5575.073 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(108.763) |
34.435 |
|
|
|
Employees benefits expense |
|
2931.733 |
2482.864 |
|
|
|
CSR Expenditure |
|
30.649 |
15.514 |
|
|
|
Other expenses |
|
2607.895 |
1937.309 |
|
|
|
TOTAL |
|
12288.212 |
10045.195 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
1543.691 |
1838.617 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
192.094 |
202.124 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1351.597 |
1636.493 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
723.411 |
605.569 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
628.186 |
1030.924 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
181.599 |
304.173 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
446.587 |
726.751 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
|
16.25 |
7.28 |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G61851424 |
100052443 |
KOTAK MAHINDRA
BANK LIMITED |
29/08/2016 |
04/10/2017 |
- |
1180000000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
2 |
G04380903 |
100028896 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
11/05/2016 |
- |
- |
350000000.0 |
INDIABULLS-FINANCE
CENTRE, 25TH FLOOR, TOWER C,612/613 ELPHINSTONE MILL COMPOUND, LOWER
PARELMUMBAIMH400013IN |
|
3 |
G08573941 |
100041966 |
HSBC BANK
(MAURITIUS) LIMITED |
11/05/2016 |
- |
- |
674500000.0 |
6TH FLOOR, HSBC
CENTRE18, CYBERCITYEBENENA000000MU |
|
4 |
G05272646 |
100031539 |
CITI BANK N.A. |
07/05/2016 |
- |
- |
402600000.0 |
FIRST
INTERNATIONAL FINANCIAL CENTRE, 9TH FLOORPLOT NO. C-54 & 55, BKC, BANDRA
(E)MUMBAIMH400051IN |
|
5 |
C82269531 |
10627407 |
KOTAK MAHINDRA
PRIME LIMITED |
16/02/2016 |
- |
- |
813000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN |
|
6 |
C75438069 |
10612002 |
CITI BANK N.A. |
17/12/2015 |
- |
- |
399892800.0 |
FIRST INTERNATIONAL
FINANCIAL CENTRE, 9TH FLOOR,PLOT NO. C-54 & 55, G-BLOCK, BKC, BANDRA
(E)MUMBAIMH400051IN |
|
7 |
G09342809 |
100044123 |
CITI BANK N.A. |
04/11/2015 |
- |
- |
264000000.0 |
FIRST
INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR,PLOT NO. C-54 & 55, G-BLOCK,
BKC, BANDRA (E)MUMBAIMH400051IN |
|
8 |
C63728117 |
10590107 |
CITI BANK N.A. |
08/09/2015 |
- |
- |
300000000.0 |
FIRST
INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR,PLOT NO. C-54 & 55, G-BLOCK,
BKC, BANDRA (E)MUMBAIMH400051IN |
|
9 |
C82034505 |
10406786 |
CITI BANK N.A. |
18/02/2013 |
08/02/2016 |
- |
597000000.0 |
FIRST
INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR,PLOT NO. C-54 & 55, G-BLOCK,
BKC, BANDRA (E)MUMBAIMH400051IN |
|
10 |
B70305792 |
10265349 |
AXIS BANK LIMITED |
23/12/2010 |
23/01/2013 |
- |
1400000000.0 |
LAXMI THE MALL,
BLDG NO 5, LAXMI INDUSTRIAL ESTATENEW LINK ROAD, ANDHERI (W),MUMBAIMH400053IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
4.692 |
|
|
|
|
|
Total |
0.000 |
4.692 |
The Highlights
of the financial results for the year ended 31st March, 2017 are as follows:
During the year, the company has made a profit of INR 286.463 Million
STATE OF COMPANIES AFFAIR
The Company continues to be engaged in the activities pertaining to manufacture, process and sells specialty and all kind of chemicals used in refining, petrochemicals and allied industries. Geographically, during the Financial Year under review 63.94% of revenue came from Asia/ Africa and Middle East, 18.42% of revenue came from Europe and 17.64% of revenue came from America.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment’s
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 67.63 |
|
UK Pound |
1 |
INR 89.70 |
|
Euro |
1 |
INR 78.20 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.