MIRA INFORM REPORT
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Report Date : |
08.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOLD FILAMENTS PRIVATE LIMITED |
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Registered
Office : |
402, 4th Floor, The View, 1 Lad Colony, Opposite Police Station,
Y.N. Road, Indore – 452004, Madhya Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.08.2006 |
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Com. Reg. No.: |
10-018858 |
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Capital Investment
/ Paid-up Capital : |
Rs. 1.695 Millions |
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CIN No.: [Company Identification
No.] |
U25209MP2006PTC018858 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Rope. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s sound financial risk
profile and fair liquidity profile of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealing 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.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Mahesh Vyas |
|
Designation : |
Account Executive |
|
Contact No.: |
91-7412-267115 |
|
Date : |
06.12.2014 |
LOCATIONS
|
Registered Office : |
402, 4th Floor, The View, 1 Lad Colony, Opposite Police
Station, Y.N. Road, Indore – 452004, Madhya Pradesh, India |
|
Tel. No.: |
91-7412-267115/270087 |
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Fax No.: |
91-7412-267383 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory : |
F-19, Phase – I, Sector – 3, SEZ – Pithampur, |
|
Location : |
Owned |
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Corporate Office : |
561/3, Shree Complex, Mhow – |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Shailesh Porwal |
|
Designation : |
Director |
|
Address : |
28, Shreevilas, Jain Colony, Ratlam, Madhya Pradesh, India |
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Date of Birth/Age : |
23.06.1973 |
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Date of Appointment : |
11.08.2006 |
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DIN No.: |
00497844 |
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Name : |
Mr. Sanjay Porwal |
|
Designation : |
Director |
|
Address : |
28, Shreevilas, Jain Colony, Ratlam, Madhya Pradesh, India |
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Date of Birth/Age : |
02.06.1971 |
|
Date of Appointment : |
11.08.2006 |
|
DIN No.: |
00497869 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Karodia |
|
Designation : |
Company Secretary |
|
Address : |
208, Trade House, 14/3, South Tukoganj, Indore, Madhya Pradesh, India |
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Mobile No. : |
91-9826114533 |
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Qualification : |
M.Com. LL.B, F.C.S. |
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Email : |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Porwal |
|
74540 |
|
Shailesh Porwal |
|
88000 |
|
Radheshyam Porwal |
|
4000 |
|
Annapurna Porwal |
|
1000 |
|
Neelam Porwal |
|
1000 |
|
Anita Porwal |
|
1000 |
|
Total |
|
169540 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Rope. |
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Products and Services : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Auditors : |
|
|
Name : |
Ashok Khasgiwala and Company Chartered Accountant |
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Address : |
317, Chetak Centre, “Annex”, R.N.T. Marg, Indore – 452001, Madhya
Pradesh, India |
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Tel. No.: |
91-7412-2517341/4069301 (R) 2523134 |
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E-Mail : |
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PAN No.: |
AACFA7732P |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
169540 |
Equity Shares |
Rs.10/- each |
Rs. 1.695
Millions |
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|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
1.695 |
1.695 |
1.695 |
|
(b) Reserves & Surplus |
33.150 |
30.727 |
27.990 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
34.845 |
32.422 |
29.685 |
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.366 |
1.225 |
1.984 |
|
(b) Deferred tax liabilities
(Net) |
1.964 |
1.661 |
1.349 |
|
(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) |
5.330 |
2.886 |
3.333 |
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(4) Current Liabilities |
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|
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(a) Short term borrowings |
26.468 |
26.021 |
23.805 |
|
(b) Trade payables |
1.939 |
3.548 |
5.153 |
|
(c) Other current liabilities |
3.567 |
2.608 |
3.294 |
|
(d) Short-term provisions |
0.151 |
0.186 |
0.656 |
|
Total
Current Liabilities (4) |
32.125 |
32.363 |
32.908 |
|
|
|
|
|
|
TOTAL |
72.300 |
67.671 |
65.926 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
21.695 |
20.357 |
16.742 |
|
(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 |
1.850 |
0.450 |
0.050 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.008 |
5.019 |
0.763 |
|
(e) Other Non-current assets |
0.000 |
0.029 |
0.026 |
|
Total
Non-Current Assets |
26.553 |
25.855 |
17.581 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
24.267 |
19.083 |
30.551 |
|
(c) Trade receivables |
17.880 |
17.753 |
11.575 |
|
(d) Cash and cash equivalents |
0.187 |
1.159 |
1.001 |
|
(e) Short-term loans and
advances |
3.406 |
3.821 |
5.218 |
|
(f) Other current assets |
0.007 |
0.000 |
0.000 |
|
Total
Current Assets |
45.747 |
41.816 |
48.345 |
|
|
|
|
|
|
TOTAL |
72.300 |
67.671 |
65.926 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
153.230 |
101.355 |
|
|
Other Income |
|
0.065 |
0.499 |
|
|
TOTAL
(A) |
136.735 |
153.295 |
101.854 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
110.206 |
73.244 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
4.011 |
(3.132) |
|
|
Employees benefits expense |
|
5.729 |
3.181 |
|
|
Other expenses |
|
26.175 |
21.663 |
|
|
TOTAL
(B) |
133.289 |
146.121 |
94.956 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
Including
Financial and depreciation Expenses |
7.174 |
6.898 |
|
|
|
|
2.392 |
2.732 |
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
4.782 |
4.166 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.016 |
0.808 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
3.446 |
3.766 |
3.358 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
1.023 |
1.029 |
0.974 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
2.423 |
2.737 |
2.384 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
136.951 |
142.962 |
93.243 |
|
|
TOTAL
EARNINGS |
136.951 |
142.962 |
93.243 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF Value |
66.488 |
50.790 |
32.907 |
|
|
Capital Goods |
|
|
|
|
|
TOTAL
IMPORTS |
66.488 |
50.790 |
32.907 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
14.29 |
2.78 |
2.42 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
1.79 |
2.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
NA |
4.68 |
6.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.89 |
5.60 |
5.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.12 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86 |
0.84 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42 |
1.29 |
1.47 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1.695 |
1.695 |
1.695 |
|
Reserves & Surplus |
27.990 |
30.727 |
33.150 |
|
Net
worth |
29.685 |
32.422 |
34.845 |
|
|
|
|
|
|
long-term borrowings |
1.984 |
1.225 |
3.366 |
|
Short term borrowings |
23.805 |
26.021 |
26.468 |
|
Total
borrowings |
25.789 |
27.246 |
29.834 |
|
Debt/Equity
ratio |
0.869 |
0.840 |
0.856 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
101.854 |
153.295 |
136.735 |
|
|
|
50.505 |
(10.803) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
101.854 |
153.295 |
136.735 |
|
Profit |
2.384 |
2.737 |
2.423 |
|
|
2.34% |
1.79% |
1.77% |
LOCAL AGENCY FURTHER INFORMATION
Current Maturity
of Long Term Debt = Not Available
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
Registered office of the company has been shifted from
501-A, Nikita Apartment, 3, R.K. Puram, Near Hotel Amaltas, A.B. Road, Indore –
452001, Madhya Pradesh, India to the present address w.e.f.29.12.2012
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10294278 |
11/07/2013 * |
62,697,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B80717283 |
* Date of charge modification
FIXED ASSETS
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Computer
- 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 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 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.76.3 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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 and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.