MIRA
INFORM REPORT
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Report Date : |
22.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
BIOTECH OPTHALMICS PRIVATE LIMITED |
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Registered
Office : |
401, Sarthak II, Opposite Rajpath Club, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
29.10.2002 |
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Com. Reg. No.: |
04-041489 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U33112GJ2002PTC041489 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturing various types of Infra Operative Ophthalmic Solution for
Cataract and Retinal Surgery such as HPMC, Sodium Hyaluronate, Trypan Blue,
Silicone Oil, Perfluro N Ocatane Decaline etc. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 300000 |
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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 is an established company having satisfactory track. Management has failed to file latest financials for financial year 2014,
with statutory authorities as well as denied to disclose any information. As per available, trade relations are fair. Business is active.
Payment term are reported as usually correct. 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 DENIED BY
|
Name : |
Mr. Naveen Bohra |
|
Designation : |
Finance Controller |
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Contact No.: |
91-2764-662000 |
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Date : |
17.12.2014 |
LOCATIONS
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Registered Office : |
401, Sarthak II, Opposite Rajpath Club, S G Highway, Ahmedabad –
3800054, Gujarat, India |
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Tel. No.: |
91-22-792642681 |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As On 30.09.2013
|
Name : |
Mehulbhai Pratapbhai Asnani |
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Designation : |
Director |
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Address : |
4, Garden Encleve, Opposite Law Garden, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
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Date of Birth/Age : |
27.03.1972 |
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Date of Appointment : |
25.11.2002 |
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DIN No.: |
00205936
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Other
Directorship :
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Name : |
Nirmala Pratapbhai Asnani |
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Designation : |
Director |
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Address : |
4, Garden Encleve, Opposite Law Garden, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
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Date of Birth/Age : |
17.08.1939 |
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Date of Appointment : |
29.10.2002 |
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DIN No.: |
02231320 |
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Name : |
Ruchira Mehulbhai Asnani |
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Designation : |
Director |
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Address : |
4, Garden Encleve, Opposite Law Garden, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
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Date of Birth/Age : |
10.11.1977 |
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Date of Appointment : |
25.11.2002 |
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DIN No.: |
00205987
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Other
Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Naveen Bohra |
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Designation : |
Financial Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Bio-Tech Vision Care Private Limited |
10000 |
100.00 |
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Total |
10000 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
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Bodies corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing various types of Infra Operative Ophthalmic Solution for
Cataract and Retinal Surgery such as HPMC, Sodium Hyaluronate, Trypan Blue,
Silicone Oil, Perfluro N Ocatane Decaline etc. |
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Products : |
Not Available |
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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 Available |
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Purchasing : |
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, 1st Floor,
Kalapurnam, Nr.Municipal Market, C.G.R |
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Facilities : |
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Auditors : |
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Name : |
S K Jha and Company Chartered Accountant |
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Address : |
204, Iscon Plaza, Opposite Star Bazzar, Satellite, Ahmedabad – 380015,
Gujarat, India |
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PAN No.: |
ABBFS6422J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As On 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.100 |
0.100 |
0.100 |
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(b) Reserves & Surplus |
114.897 |
60.846 |
37.273 |
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(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) |
114.997 |
60.946 |
37.373 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
6.429 |
5.850 |
5.117 |
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(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current Liabilities (3) |
6.429 |
5.850 |
5.117 |
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(4) Current Liabilities |
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(a) Short term borrowings |
14.719 |
0.369 |
25.821 |
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(b) Trade payables |
14.812 |
5.196 |
2.162 |
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(c) Other current
liabilities |
10.549 |
19.047 |
33.729 |
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(d) Short-term provisions |
29.505 |
13.121 |
11.738 |
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Total Current Liabilities (4) |
69.585 |
37.733 |
73.450 |
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TOTAL |
191.011 |
104.529 |
115.940 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
40.026 |
40.691 |
41.184 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
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(e) Other Non-current assets |
47.599 |
8.281 |
4.345 |
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Total Non-Current Assets |
87.625 |
48.972 |
45.529 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
50.629 |
35.686 |
37.516 |
|
(c) Trade receivables |
32.904 |
6.362 |
13.837 |
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(d) Cash and cash
equivalents |
2.055 |
0.538 |
0.773 |
|
(e) Short-term loans and
advances |
17.798 |
12.971 |
18.285 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
103.386 |
55.557 |
70.411 |
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TOTAL |
191.011 |
104.529 |
115.940 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Other Income |
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TOTAL (A) |
163.204 |
101.577 |
70.026 |
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Less |
EXPENSES |
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TOTAL (B) |
75.463 |
61.835 |
47.538 |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
87.741 |
39.742 |
22.488 |
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Less |
FINANCIAL
EXPENSES (D) |
4.443 |
1.760 |
1.009 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
83.298 |
37.982 |
21.479 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.468 |
2.353 |
2.205 |
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PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
80.830 |
35.629 |
19.274 |
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Less |
TAX (H) |
26.779 |
12.056 |
6.773 |
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PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
54.051 |
23.573 |
12.501 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
153.590 |
31.252 |
30.423 |
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TOTAL EARNINGS |
153.590 |
31.252 |
30.423 |
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IMPORTS |
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CIF Value of Import |
55.342 |
34.329 |
24.762 |
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TOTAL IMPORTS |
55.342 |
34.329 |
24.762 |
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Earnings /
(Loss) Per Share (Rs.) |
5405.10 |
2357.30 |
1250.10 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
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Net Profit Margin PAT / Sales |
(%) |
33.12
|
23.21 |
17.85 |
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Operating Profit Margin (PBDIT/Sales) |
(%) |
53.76
|
39.12 |
32.11 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
42.32 |
34.09 |
16.62 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.70 |
0.58 |
0.52 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.13 |
0.01 |
0.69 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.49 |
1.47 |
0.96 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
37.273 |
60.846 |
114.897 |
|
Net
worth |
37.373 |
60.946 |
114.997 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
25.821 |
0.369 |
14.719 |
|
Total
borrowings |
25.821 |
0.369 |
14.719 |
|
Debt/Equity
ratio |
0.691 |
0.006 |
0.128 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
70.026 |
101.577 |
163.204 |
|
|
|
45.056 |
60.670 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
70.026 |
101.577 |
163.204 |
|
Profit |
12.501 |
23.573 |
54.051 |
|
|
17.85% |
23.21% |
33.12% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
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 |
No |
|
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 305, Asiatic Trade Centre Near Jain Derasar Navarangpura,
Ahmedabad – 380009, Gujarat, India to the present address w.e.f.24.12.2009.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10361096 |
08/05/2012 |
20,000,000.00 |
CITIBANK N. A. |
1ST FLOOR,
KALAPURNAM, NR.MUNICIPAL MARKET, C.G.R INDIA |
B41814286 |
FIXED ASSETS
·
Land
·
Factory Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Computer
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.06 |
|
|
1 |
Rs. 98.73 |
|
Euro |
1 |
Rs. 77.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.