MIRA
INFORM REPORT
|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
GEN NEXT MOTORS LIMITED |
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Registered
Office : |
Plot No A-70, TTC Industrial Area, |
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Country : |
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Financials (as
on) : |
31.03.2014 (Provisional) |
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Date of
Incorporation : |
17.03.2011 |
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Com. Reg. No.: |
11-214904 |
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Capital
Investment / Paid-up Capital : |
Rs. 15.000 Millions |
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CIN No.: [Company Identification
No.] |
U34300MH2011PLC214904 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEG12320A |
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PAN No.: [Permanent Account No.] |
AAECG1790L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Dealer of Motors. |
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No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has shown a significant growth in the company’s turnover
and profit during 2013. However, profit margin of the company is low. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
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 |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes that many things such as apartment
sales, luxury products, etc. were largely bought with dirty money. And it is
now beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-term rating = “BB” |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
26.02.2014 |
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. Rakesh |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-9594989915 |
|
Date : |
30.08.2014 |
LOCATIONS
|
Registered Office : |
Plot No A-70, TTC Industrial Area, Thane Belapur Road, Kopar Khairane,
Navi Mumbai – 400709, Maharashtra, India |
|
Tel. No. : |
Not Available |
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Mobile No. : |
91-9594989915 (Mr. Rakesh) |
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Fax No. : |
Not Available |
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E-Mail : |
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Website : |
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Showroom 1: |
G-1, Durolite House, Opposite Laxmi Industrial Estate, 647/648, Off New Link Road, Veer Desai Industrial Estate, Andheri (West), Mumbai - 400053, Maharashtra, India |
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Tel. No. : |
91-22-42178888/ 26743618/ 3620 |
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Fax No. : |
91-22-42178899/ 26743619 |
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Showroom 2: |
Plot No. 46, Sector 19-E, Palm Beach Road, Vashi, Navi Mumbai – 400705, Maharashtra, India |
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Tel. No. : |
91-22-41921777/ 27842787/ 88 |
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Fax No. : |
91-22-27842789 |
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Showroom 3: |
Unit No. 01, 02 and 03, Bhoomi Landmark Premises, Cooperative Society Limited, Plot No. 34 and 34A, Sector 17, New Panvel (West), Raigad – 410206, Maharashtra, India |
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Tel. No.: |
91-22-39198888 |
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Showroom 4: |
Himalaya Tile Compound, CTS 227, Western Express Highway, Jogeshwari (East), Mumbai – 400063, Maharashtra, India |
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Workshop 1: |
C/o Sehco Silk Mill, 26 Chandivali Village, Next to Kamani
Oil Mill, |
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Tel. No. : |
91-22-23573650/ 28573651 |
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Fax No. : |
91-22-28573623 |
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Workshop 2: |
Unit No. 5 and 6, Virat Engineering Private Limited Compound, Tungva Village, Saki Vihar Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
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Tel. No. : |
91-22-28573658/ 3681/ 3682/ 3683 |
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Workshop 3: |
804A, TTC Industrial Area, MIDC, Kopar Khairane, Navi Mumbai – 400701, Maharashtra, India |
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Tel. No. : |
91-22-39548888 |
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Workshop 4: |
Sun Bright Wines, Plot No. 101, Panvel Industrial Co-operative Estate Limited, Panvel, Raigad – 410206, Maharashtra, India |
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Showroom 5 and Workshop 5: |
Survey No. 108, Plot No P/1, Patlipada, Near HDFC Bank Limited, Ghodbunder Road, Thane (West), Thane – 400607, Maharashtra, India |
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Tel. No. : |
91-22-25866500/ 25866555 |
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Showroom 6 and Workshop 6: |
Survey No. 6/6 and Survey No. 4/2, Manpada Gaon, Silphata Road, Dombivali (East), Thane – 421204, Maharashtra, India |
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Tel. No. : |
91-251-3068888/ 3068899 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sumit Vinod Gupta |
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Designation : |
Director |
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Address : |
130, Motabhoy Mansion, Maharshi Karve Road, Churchgate, Mumbai –
400020, Maharashtra, India |
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Date of Birth/Age : |
11.09.1973 |
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Qualification : |
MBA |
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Date of Appointment : |
17.03.2011 |
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DIN No. : |
01854397 |
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Other Directorship :
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Name : |
Mr. Krishnamkutty Panangattam Pallil Jayaprakash Menon |
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Designation : |
Director |
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Address : |
106, Ramleela Co-operative Housing Society Limited, Near Saket Vidya
Mandir, Kolshewadi, Kalyan (East), Thane – 421306, Maharashtra, India |
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Date of Birth/Age : |
27.02.1962 |
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Date of Appointment : |
25.03.2014 |
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DIN No. : |
06855191 |
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Other Directorship :
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Name : |
Pooja Sumit Gupta |
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Designation : |
Additional Director |
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Address : |
236, Roopniwas, 10th Road, Chembur, Mumbai – 400071,
Maharashtra, India |
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Date of Birth/Age : |
24.01.1976 |
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Date of Appointment : |
16.12.2013 |
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DIN No. : |
01854383 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Rakesh |
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Designation : |
Chief Financial Officer |
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|
Name : |
Archana Palav |
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Designation : |
CRM |
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|
Name : |
Mr. Deepak Keiwalla |
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Designation : |
Sales Manager |
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Name : |
Mr. Haresh Pandhare |
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Designation : |
Finance Manager |
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Name : |
Kajar Iyer |
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Designation : |
Sales Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Pooja Gupta |
500000 |
50.00 |
|
Sumit Gupta |
225000 |
22.50 |
|
Sangeeta Gupta |
12500 |
1.25 |
|
Vinod Gupta |
12500 |
1.25 |
|
Sonam Gupta |
25000 |
2.50 |
|
Dhruv Gupta |
112500 |
11.25 |
|
Sahej Gupta |
112500 |
11.25 |
|
Total |
1000000 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Motors. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
450 (Approximately) |
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Bankers : |
· State Bank of India, Sterling Center Branch, Ground Floor, Sterling Center, Dr. Annie Besant Marg, Worli, Mumbai - 400018, Maharashtra, India Axis Bank Limited Vardhaman Chambers Co-Operative Society,
Plot No. 84, Sector 17, Vashi, Navi Mumbai – 400705, Maharashtra, India Tel. No.: 91-22-66299800/ 2766013 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
D K Roongta and Company Chartered Accountants |
|
Address : |
286, Princes Street Bhatia Mansion, 2nd Floor , Mumbai – 400002, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABPR6164K |
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|
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Associates : (As on 31.03.2013) |
· Spectra Auto Nikhil Automobiles Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : NA
Issued, Subscribed & Paid-up Capital : Rs.
15.000 Millions
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 (Provisional) |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
15.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
90.372 |
55.547 |
49.763 |
|
(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) |
105.372 |
65.547 |
59.763 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.002 |
2.002 |
0.924 |
|
(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) |
2.002 |
2.002 |
0.924 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
673.199 |
344.275 |
73.084 |
|
(b) Trade payables |
121.025 |
208.725 |
41.764 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
2.250 |
2.250 |
0.500 |
|
Total Current Liabilities (4) |
796.474 |
555.250 |
115.348 |
|
|
|
|
|
|
TOTAL |
903.848 |
622.799 |
176.035 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
72.799 |
54.340 |
39.952 |
|
(ii) Intangible Assets |
47.046 |
19.970 |
18.731 |
|
(iii) Capital
work-in-progress |
13.331 |
6.755 |
3.084 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
44.863 |
51.469 |
21.608 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
178.039 |
132.534 |
83.375 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
503.793 |
331.055 |
68.257 |
|
(c) Trade receivables |
104.245 |
120.147 |
15.588 |
|
(d) Cash and cash
equivalents |
22.487 |
22.697 |
1.727 |
|
(e) Short-term loans and
advances |
95.284 |
16.366 |
7.088 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
725.809 |
490.265 |
92.660 |
|
|
|
|
|
|
TOTAL |
903.848 |
622.799 |
176.035 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 (Provisional) |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3164.344 |
2848.310 |
330.324 |
|
|
|
Other Income |
91.188 |
51.508 |
8.511 |
|
|
|
TOTAL (A) |
3255.532 |
2899.818 |
338.835 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
2989.128 |
2752.768 |
304.765 |
|
|
|
Employees benefits expense |
100.411 |
45.147 |
8.678 |
|
|
|
Other expenses |
102.682 |
56.697 |
15.703 |
|
|
|
TOTAL (B) |
3192.221 |
2854.612 |
329.146 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
63.311 |
45.206 |
9.689 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
38.764 |
26.818 |
4.516 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.547 |
18.388 |
5.173 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.723 |
9.776 |
2.986 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
9.824 |
8.612 |
2.187 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
2.828 |
1.424 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
9.824 |
5.784 |
0.763 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.55 |
5.78 |
0.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 (Provisional) |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.30 |
0.20 |
0.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.31 |
0.30 |
0.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.10 |
1.40 |
1.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.13 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.39 |
5.25 |
1.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.88 |
0.80 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014
(Provisional) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
10.000 |
10.000 |
15.000 |
|
Reserves & Surplus |
49.763 |
55.547 |
90.372 |
|
Net
worth |
59.763 |
65.547 |
105.372 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
73.084 |
344.275 |
673.199 |
|
Total
borrowings |
73.084 |
344.275 |
673.199 |
|
Debt/Equity
ratio |
1.223 |
5.252 |
6.389 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014
(Provisional) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
330.324 |
2848.310 |
3164.344 |
|
|
|
762.278 |
11.095 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014
(Provisional) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
330.324 |
2848.310 |
3164.344 |
|
Profit |
0.763 |
5.784 |
9.824 |
|
|
0.23% |
0.20% |
0.31% |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
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 |
Yes |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED
PROFITABILITY STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
|
(PROJECTIONS) |
||||||
|
INCOME |
|
|
|
|
|
|
|
Sales |
3195.987 |
3515.586 |
3867.145 |
4253.859 |
4679.245 |
5147.170 |
|
|
|
|
|
|
|
|
|
Other Income |
136.782 |
150.460 |
165.882 |
183.300 |
203.463 |
225.844 |
|
|
|
|
|
|
|
|
|
[A] |
3332.769 |
3666.046 |
4033.027 |
4437.159 |
4882.708 |
5373.014 |
|
|
|
|
|
|
|
|
|
EXPENDITURE |
|
|
|
|
|
|
|
Cost of Sales |
3018.272 |
3320.099 |
3652.109 |
4017.320 |
4419.052 |
4860.957 |
|
|
|
|
|
|
|
|
|
Admin and Selling Over Heads |
106.789 |
121.740 |
138.783 |
157.519 |
178.784 |
202.920 |
|
|
|
|
|
|
|
|
|
Personnel Cost |
104.427 |
119.047 |
135.714 |
154.035 |
174.830 |
198.432 |
|
|
|
|
|
|
|
|
|
Other Expenses |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Directors Remuneration |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Preliminary Expenses W/off |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
[ B
] |
3229.489 |
3560.886 |
3926.606 |
4328.874 |
4772.666 |
5262.309 |
|
|
|
|
|
|
|
|
|
Profit Before Depreciation and Interest |
103.281 |
105.160 |
106.421 |
108.285 |
110.042 |
110.704 |
|
|
|
|
|
|
|
|
|
Less : Depreciation |
18.645 |
16.034 |
13.789 |
11.859 |
10.199 |
8.771 |
|
|
|
|
|
|
|
|
|
Profit Before Interest and Tax |
84.635 |
89.125 |
92.630 |
96.425 |
99.842 |
101.932 |
|
|
|
|
|
|
|
|
|
Less : Finance Charges |
72.000 |
72.000 |
72.000 |
72.000 |
72.000 |
72.000 |
|
|
|
|
|
|
|
|
|
Profit Before Tax |
12.635 |
17.125 |
20.630 |
24.425 |
27.842 |
29.932 |
|
|
|
|
|
|
|
|
|
Less : Prov. Income Tax |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Profit After Tax |
12.635 |
17.125 |
20.630 |
24.425 |
27.842 |
29.932 |
|
|
|
|
|
|
|
|
|
Add : Profit Brought F/d |
16.370 |
29.005 |
46.130 |
66.760 |
91.185 |
119.028 |
|
|
|
|
|
|
|
|
|
Less: Appropriations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment of Dividend |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Surplus Transferred to B/S |
29.005 |
46.130 |
66.760 |
91.185 |
119.028 |
148.960 |
|
|
|
|
|
|
|
|
|
Retained Profit -% |
100% |
100% |
100% |
100% |
100% |
100% |
|
|
|
|
|
|
|
|
|
Paid up equity |
15.000 |
15.000 |
15.000 |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
|
|
|
Tangible networth |
318.005 |
335.130 |
355.760 |
380.185 |
408.028 |
437.960 |
|
|
|
|
|
|
|
|
|
Growth in sales % |
1% |
10% |
10% |
10% |
10% |
10% |
|
|
|
|
|
|
|
|
|
Growth in Pat % |
29% |
36% |
20% |
18% |
14% |
8% |
|
|
|
|
|
|
|
|
|
Pat/sales |
0.40% |
0.49% |
0.53% |
0.57% |
0.60% |
0.58% |
|
|
|
|
|
|
|
|
|
Debt/ TNW (times) |
1.49 |
1.41 |
1.33 |
1.24 |
1.16 |
1.08 |
|
|
|
|
|
|
|
|
|
Debt / ATNW (times) |
1.49 |
1.41 |
1.33 |
1.24 |
1.16 |
1.08 |
|
|
|
|
|
|
|
|
|
Total Liabilities/ATNW (times) |
2.97 |
2.87 |
2.76 |
2.64 |
2.53 |
2.43 |
|
|
|
|
|
|
|
|
|
Total Debt/ Non Current asset |
0.19 |
0.22 |
0.26 |
0.30 |
0.35 |
0.40 |
|
|
|
|
|
|
|
|
|
Current ratio (times) |
1.83 |
1.94 |
2.06 |
2.18 |
2.31 |
2.44 |
|
|
|
|
|
|
|
|
|
ROCE % |
3.97% |
5.11% |
5.80% |
6.42% |
6.82% |
6.83% |
------------------------------------------------------------------------------------------------------------------------------
CASH FLOW
STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
|
(PROJECTIONS) |
||||||
|
RECEIPTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit Before Interest and Tax |
84.635 |
89.125 |
92.630 |
96.425 |
99.842 |
101.932 |
|
|
|
|
|
|
|
|
|
Depreciation |
18.645 |
16.034 |
13.789 |
11.859 |
10.199 |
8.771 |
|
|
|
|
|
|
|
|
|
Preliminary Expenses W/Off |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Increase in Share Capital |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Bank Term Loan |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Cash Credit Account |
150.000 |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Debentures/ quasi loans |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Credit from Stock Funds |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Increase in Current Liabilities |
1.300 |
2.200 |
1.300 |
1.600 |
1.900 |
2.000 |
|
|
|
|
|
|
|
|
|
Share Premium Account |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[A] |
254.580 |
107.359 |
107.720 |
109.884 |
111.941 |
112.703 |
|
|
|
|
|
|
|
|
|
PAYMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Land and Buildings |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Cost of Equipment and Furniture and Fixture |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Repayment of Principal [T.L.] |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Interest on Term Loan |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Interest on Bank W. C. Fin. |
18.000 |
18.000 |
18.000 |
18.000 |
18.000 |
18.000 |
|
|
|
|
|
|
|
|
|
Other Interest and Charges |
54.000 |
54.000 |
54.000 |
54.000 |
54.000 |
54.000 |
|
|
|
|
|
|
|
|
|
Repayment of Vehicle Loan |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Increase in Inventories |
140.000 |
20.000 |
21.000 |
24.000 |
26.000 |
25.000 |
|
|
|
|
|
|
|
|
|
Increase in Debtors |
60.000 |
15.000 |
13.500 |
13.000 |
12.500 |
12.000 |
|
|
|
|
|
|
|
|
|
Increase in Advances |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Advance Tax Paid |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Increase in Deposits |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Increase in Investments |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Dividend Paid |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Payt. of Unsecured Loans |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
[B] |
272.000 |
107.000 |
106.500 |
109.000 |
110.500 |
109.000 |
|
|
|
|
|
|
|
|
|
Opening Cash and Bank Balance |
22.445 |
5.025 |
5.384 |
6.604 |
7.488 |
8.929 |
|
|
|
|
|
|
|
|
|
Add : Net Surplus/( Deficit ) |
(17.420) |
0.359 |
1.220 |
0.884 |
1.441 |
3.703 |
|
|
|
|
|
|
|
|
|
Closing Cash and Bank Balance |
5.025 |
5.384 |
6.604 |
7.488 |
8.929 |
12.632 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEET
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
|
(PROJECTIONS) |
||||||
|
SOURCES OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1. Shareholders' Funds |
|
|
|
|
|
|
|
Share Capital |
15.000 |
15.000 |
15.000 |
15.000 |
15.000 |
15.000 |
|
Share Premium |
74.000 |
74.000 |
74.000 |
74.000 |
74.000 |
74.000 |
|
Reserves and Surplus |
29.005 |
46.130 |
66.760 |
91.185 |
119.028 |
148.960 |
|
FCD and quasi loans |
200.000 |
200.000 |
200.000 |
200.000 |
200.000 |
200.000 |
|
2. Secured Loans |
|
|
|
|
|
|
|
Bank Term
Loan |
-- |
-- |
-- |
-- |
-- |
-- |
|
Cash Credit Account |
150.000 |
150.000 |
150.000 |
150.000 |
150.000 |
150.000 |
|
Vehicle Loans |
21.652 |
21.652 |
21.652 |
21.652 |
21.652 |
21.652 |
|
3. Deferred tax |
2.002 |
2.002 |
2.002 |
2.002 |
2.002 |
2.002 |
|
|
|
|
|
|
|
|
|
3. Credit Stock Funds |
451.547 |
451.547 |
451.547 |
451.547 |
451.547 |
451.547 |
|
|
|
|
|
|
|
|
|
Total |
943.206 |
960.331 |
980.961 |
1005.386 |
1033.229 |
1063.161 |
|
|
|
|
|
|
|
|
|
APPLICATION
OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1. Fixed Assets |
|
|
|
|
|
|
|
Gross Block |
160.661 |
160.661 |
160.661 |
160.661 |
160.661 |
160.661 |
|
Less : Depreciation |
46.131 |
62.165 |
75.954 |
87.813 |
98.012 |
106.783 |
|
Net Block |
114.531 |
98.496 |
84.707 |
72.848 |
62.649 |
53.878 |
|
|
|
|
|
|
|
|
|
2. Investments |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
3. Current Asset and Loans and Advances |
|
|
|
|
|
|
|
Inventories |
643.793 |
663.793 |
684.793 |
708.793 |
734.793 |
759.793 |
|
Sundry Debtors |
164.285 |
179.285 |
192.785 |
205.785 |
218.285 |
230.285 |
|
Cash and Bank Balances |
5.025 |
5.384 |
6.604 |
7.488 |
8.929 |
12.632 |
|
Deposits Loans and Advances |
140.148 |
140.148 |
140.148 |
140.148 |
140.148 |
140.148 |
|
|
|
|
|
|
|
|
|
Less : Current Liabilities |
|
|
|
|
|
|
|
Provisions |
124.575 |
126.775 |
128.075 |
129.675 |
131.575 |
133.575 |
|
|
|
|
|
|
|
|
|
Net Current
Assets |
828.676 |
861.835 |
896.255 |
932.539 |
970.580 |
1009.283 |
|
|
|
|
|
|
|
|
|
4. Other Non-Current Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5. Miscellaneous Expenses |
-- |
-- |
-- |
-- |
-- |
-- |
|
6. Preliminary Expenses |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Total |
943.206 |
960.331 |
980.961 |
1005.386 |
1033.229 |
1063.161 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSEMENT OF WORKING CAPITAL
REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
31.03.2018 |
31.03.2019 |
31.03.2020 |
|
(PROJECTIONS) |
|||||||
|
1 |
Gross Sales |
3195.987 |
3515.586 |
3867.145 |
4253.859 |
4679.245 |
5147.170 |
|
|
|
|
|
|
|
|
|
|
2 |
Other Income |
136.782 |
150.460 |
165.882 |
183.300 |
203.463 |
225.844 |
|
|
|
|
|
|
|
|
|
|
3 |
Net Sales |
3332.769 |
3666.046 |
4033.027 |
4437.159 |
4882.708 |
5373.014 |
|
|
|
|
|
|
|
|
|
|
4 |
% of rise in Sales(+) /fall (-) |
2.37% |
10.00% |
10.01% |
10.02% |
10.04% |
10.04% |
|
|
|
|
|
|
|
|
|
|
5 |
Cost of Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
a) Opening Stock |
503.793 |
643.793 |
663.793 |
684.793 |
708.793 |
734.793 |
|
|
|
|
|
|
|
|
|
|
|
b) Purchases |
3158.272 |
3340.099 |
3673.109 |
4041.320 |
4445.052 |
4885.957 |
|
|
|
|
|
|
|
|
|
|
|
c) Direct Expenses |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
d) Closing Stock |
643.793 |
663.793 |
684.793 |
708.793 |
734.793 |
759.793 |
|
|
|
|
|
|
|
|
|
|
|
Sub-Total (Total Cost of Sales) |
3018.272 |
3320.099 |
3652.109 |
4017.320 |
4419.052 |
4860.957 |
|
|
|
|
|
|
|
|
|
|
6 |
Gross Profit (3-4) |
314.497 |
345.947 |
380.918 |
419.839 |
463.656 |
512.056 |
|
|
|
|
|
|
|
|
|
|
7 |
Service Charges and Other Income |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Sub Total (6 +7) |
314.497 |
345.947 |
380.918 |
419.839 |
463.656 |
512.056 |
|
|
|
|
|
|
|
|
|
|
8 |
Selling general and Admn. Expenses and Personnel Cost |
211.217 |
240.787 |
274.497 |
311.554 |
353.614 |
401.352 |
|
|
|
|
|
|
|
|
|
|
9 |
Operating Profit before Depreciation and Interest |
103.281 |
105.160 |
106.421 |
108.285 |
110.042 |
110.704 |
|
|
|
|
|
|
|
|
|
|
10 |
Depreciations |
18.645 |
16.034 |
13.789 |
11.859 |
10.199 |
8.771 |
|
|
|
|
|
|
|
|
|
|
11 |
Operating Profit before Interest |
84.636 |
89.126 |
92.631 |
96.426 |
99.843 |
101.933 |
|
|
|
|
|
|
|
|
|
|
12 |
Interest |
72.000 |
72.000 |
72.000 |
72.000 |
72.000 |
72.000 |
|
|
|
|
|
|
|
|
|
|
13 |
Operating Profit after Interest |
12.636 |
17.126 |
20.631 |
24.426 |
27.843 |
29.933 |
|
|
|
|
|
|
|
|
|
|
14 |
Other Income/ Expenses (Non-Operating) |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
15 |
Add: Income |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
16 |
Deduct: Expenses |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Sub-Total (+) |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
17 |
Profit before tax/loss |
12.636 |
17.126 |
20.631 |
24.426 |
27.843 |
29.933 |
|
|
|
|
|
|
|
|
|
|
18 |
Less Provision for Taxes |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
19 |
Net Profit after
Tax |
12.636 |
17.126 |
20.631 |
24.426 |
27.843 |
29.933 |
|
|
|
|
|
|
|
|
|
|
20 |
Retained Profit of Previous years |
16.371 |
29.007 |
46.133 |
66.764 |
91.190 |
119.034 |
|
|
|
|
|
|
|
|
|
|
21 |
Less: Appropriations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proposed Dividend |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Transfer to General Reserve |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
22 |
Retained Profit /(Loss) |
29.007 |
46.133 |
66.764 |
91.190 |
119.034 |
148.967 |
|
|
|
|
|
|
|
|
|
|
|
PBT/Gross Sales |
0.40% |
0.49% |
0.53% |
0.57% |
0.60% |
0.58% |
|
|
|
|
|
|
|
|
|
|
|
PAT/Gross Sales |
0.40% |
0.49% |
0.53% |
0.57% |
0.60% |
0.58% |
|
|
|
|
|
|
|
|
|
|
|
Dividend Rate (%) |
-- |
-- |
-- |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
31.03.2018 |
31.03.2019 |
31.03.2020 |
|
(PROJECTIONS) |
|||||||
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
1 |
Short Term Bank Borrowings |
|
|
|
|
|
|
|
|
a) From Applicant Bank Cash Credit / Over Draft |
150.000 |
150.000 |
150.000 |
150.000 |
150.000 |
150.000 |
|
|
|
|
|
|
|
|
|
|
|
b) From Other Bank/ GMI Cash Credit / Over Draft/Stock Funds |
451.547 |
451.547 |
451.547 |
451.547 |
451.547 |
451.547 |
|
|
|
|
|
|
|
|
|
|
|
Sub-Total (A) |
601.547 |
601.547 |
601.547 |
601.547 |
601.547 |
601.547 |
|
|
|
|
|
|
|
|
|
|
2 |
Sundry Creditors for goods |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
3 |
Sundry Creditors and customer advances |
124.575 |
126.775 |
128.075 |
129.675 |
131.575 |
133.575 |
|
|
|
|
|
|
|
|
|
|
4 |
Unsecured loans and deposits other than quasi-equity |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
5 |
Statutory Liabilities if any. |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
6 |
Provision for Taxation if any |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
7 |
Term Liability due within 1 year |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
8 |
Other current liabilities and Provision |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
(due within 1 year) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sub-Total (B) |
124.575 |
126.775 |
128.075 |
129.675 |
131.575 |
133.575 |
|
|
|
|
|
|
|
|
|
|
|
Total Current Liabilities (A+B) |
726.122 |
728.322 |
729.622 |
731.222 |
733.122 |
735.122 |
|
|
|
|
|
|
|
|
|
|
9 |
Unsecured Loans and Deposits Which are |
200.000 |
200.000 |
200.000 |
200.000 |
200.000 |
200.000 |
|
|
in the nature of quasi-equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10 |
Term Loans |
21.652 |
21.652 |
21.652 |
21.652 |
21.652 |
21.652 |
|
|
|
|
|
|
|
|
|
|
11 |
Other term Liabilities (Deferred Tax) |
1.997 |
1.997 |
1.997 |
1.997 |
1.997 |
1.997 |
|
|
|
|
|
|
|
|
|
|
|
Sub-Total (C) |
223.649 |
223.649 |
223.649 |
223.649 |
223.649 |
223.649 |
|
|
|
|
|
|
|
|
|
|
|
Total Outside Liabilities |
949.771 |
951.971 |
953.271 |
954.871 |
956.771 |
958.771 |
|
|
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 |
Paid up Share Capital |
15.000 |
15.000 |
15.000 |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
|
|
|
|
13 |
Share Premium |
74.000 |
74.000 |
74.000 |
74.000 |
74.000 |
74.000 |
|
|
|
|
|
|
|
|
|
|
14 |
Reserves and Surplus |
29.005 |
46.130 |
66.760 |
91.185 |
119.028 |
148.960 |
|
|
|
|
|
|
|
|
|
|
|
Sub-Total (C) |
118.005 |
135.130 |
155.760 |
180.185 |
208.028 |
237.960 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
1067.776 |
1087.101 |
1109.031 |
1135.056 |
1164.799 |
1196.731 |
|
|
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Cash and Bank Balances |
5.025 |
5.384 |
6.604 |
7.488 |
8.929 |
12.632 |
|
|
|
|
|
|
|
|
|
|
2 |
Loans and Deposits |
140.148 |
140.148 |
140.148 |
140.148 |
140.148 |
140.148 |
|
|
|
|
|
|
|
|
|
|
3 |
Sundry Debtors |
164.280 |
179.280 |
192.780 |
205.780 |
218.280 |
230.280 |
|
|
|
|
|
|
|
|
|
|
4 |
Inventories |
643.793 |
663.793 |
684.793 |
708.793 |
734.793 |
759.793 |
|
|
|
|
|
|
|
|
|
|
5 |
Advance Payment of Taxes |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
6 |
Advances to suppliers |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
7 |
Other Current Assets |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Total Current
Assets |
953.246 |
988.605 |
1024.325 |
1062.209 |
1102.150 |
1142.853 |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
Gross Block |
160.661 |
160.661 |
160.661 |
160.661 |
160.661 |
160.661 |
|
|
|
|
|
|
|
|
|
|
9 |
Depreciation to date |
46.131 |
62.165 |
75.954 |
87.813 |
98.012 |
106.783 |
|
|
|
|
|
|
|
|
|
|
10 |
Net Block |
114.531 |
98.496 |
84.707 |
72.848 |
62.649 |
53.878 |
|
|
|
|
|
|
|
|
|
|
11 |
Capital Work-in-Progress |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
12 |
Other current assets (such as dues from associates, investments/ dues
which are not of nature of current assets) |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
13 |
Intangible Assets, Misc. Expenditures (such as goodwill, doubtful
debts etc.) |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
1067.776 |
1087.101 |
1109.031 |
1135.056 |
1164.799 |
1196.731 |
|
|
|
|
|
|
|
|
|
|
|
Tangible Net Worth |
318.005 |
335.130 |
355.760 |
380.185 |
408.028 |
437.960 |
|
|
|
|
|
|
|
|
|
|
|
Net Working Capital |
227.124 |
260.283 |
294.703 |
330.987 |
369.028 |
407.731 |
|
|
|
|
|
|
|
|
|
|
|
Current Ratio |
1.83 |
1.94 |
2.06 |
2.18 |
2.31 |
2.44 |
|
|
|
|
|
|
|
|
|
|
|
Total Outside Liabilities/ Tangible Net
Worth |
2.36 |
2.24 |
2.12 |
1.99 |
1.85 |
1.73 |
|
|
|
|
|
|
|
|
|
|
|
Total Term Liabilities/Tangible Net Worth |
0.07 |
0.06 |
0.06 |
0.06 |
0.05 |
0.05 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF CURRENT
ASSETS AND CURRENT LIABILITIES
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
31.03.2018 |
31.03.2019 |
31.03.2020 |
|
(PROJECTIONS) |
|||||||
|
|
|
|
|
|
|
|
|
|
I |
CURRENT ASSETS:- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
i) |
Inventories |
643.793 |
663.793 |
684.793 |
708.793 |
734.793 |
759.793 |
|
|
(months cost of sales) |
2.56 |
2.40 |
2.25 |
2.12 |
2.00 |
1.88 |
|
|
|
|
|
|
|
|
|
|
iv) |
Sundry Debtors |
164.280 |
179.280 |
192.780 |
205.780 |
218.280 |
230.280 |
|
|
(months sales) |
0.62 |
0.61 |
0.60 |
0.58 |
0.56 |
0.54 |
|
|
|
|
|
|
|
|
|
|
v) |
Advances to suppliers/deposits |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
vi) |
Other current assets including cash and bank balances |
5.025 |
5.384 |
6.604 |
7.488 |
8.929 |
12.632 |
|
|
|
|
|
|
|
|
|
|
|
Total Current Assets : (I) |
813.098 |
848.457 |
884.177 |
922.061 |
962.002 |
1002.705 |
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
II |
(Other than Bank Borrowings) |
|
|
|
|
|
|
|
i) |
Sundry Creditors for Goods |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
(months purchases) |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
ii) |
Sundry Creditors for Expenses |
124.575 |
126.775 |
128.075 |
129.675 |
131.575 |
133.575 |
|
iv) |
Unsecured Loans and deposits other than quasi-equity |
-- |
-- |
-- |
-- |
-- |
-- |
|
v) |
Other Current Liabilities |
-- |
-- |
-- |
-- |
-- |
-- |
|
a) |
Statutory liabilities |
-- |
-- |
-- |
-- |
-- |
-- |
|
b) |
Provision for taxation |
-- |
-- |
-- |
-- |
-- |
-- |
|
c) |
Credit from GMI/STOCK FUNDS |
451.547 |
451.547 |
451.547 |
451.547 |
451.547 |
451.547 |
|
|
|
|
|
|
|
|
|
|
|
Total Current Liabilities (II) |
576.122 |
578.322 |
579.622 |
581.222 |
583.122 |
585.122 |
|
|
|
|
|
|
|
|
|
|
III |
Working Capital Gap (I - II) |
236.976 |
270.135 |
304.555 |
340.839 |
378.880 |
417.583 |
|
|
|
|
|
|
|
|
|
|
IV |
Actual/Projected bank borrowings for working capital including bills purchased and discounted and excess borrowing places on repayment basis |
150.000 |
150.000 |
150.000 |
150.000 |
150.000 |
150.000 |
|
|
|
|
|
|
|
|
|
|
|
(Subtotal (A) in form III-A) |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
V |
Total Current
Liabilities |
726.122 |
728.322 |
729.622 |
731.222 |
733.122 |
735.122 |
|
|
|
|
|
|
|
|
|
|
VI |
Net Working Capital (I minus V) |
86.976 |
120.135 |
154.555 |
190.839 |
228.880 |
267.583 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF MAXIMUM PERMISSIBLE BANK
FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
31.03.2018 |
31.03.2019 |
31.03.2020 |
|
(PROJECTIONS) |
|||||||
|
|
|
|
|
|
|
|
|
|
|
II nd method of
Lending |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Working capital gap (item III of Part B) |
236.976 |
270.135 |
304.555 |
340.839 |
378.880 |
417.583 |
|
|
|
|
|
|
|
|
|
|
2 |
Minimum stipulated net working capital (25% of net current assets i.e item
111 of Form IV plus term liability) |
59.244 |
67.534 |
76.139 |
85.210 |
94.720 |
104.396 |
|
|
|
|
|
|
|
|
|
|
3 |
Actual/Projected net working capital |
86.976 |
120.135 |
154.555 |
190.839 |
228.880 |
267.583 |
|
|
|
|
|
|
|
|
|
|
4 |
Item 8 minus item 9 |
177.732 |
202.601 |
228.416 |
255.629 |
284.160 |
313.187 |
|
|
|
|
|
|
|
|
|
|
5 |
Item 8 minus item 10 |
150.000 |
150.00 |
150.000 |
150.000 |
150.000 |
150.000 |
|
|
|
|
|
|
|
|
|
|
6 |
Maximum permissible bank finance (Lower of item 11/12) |
150.000 |
150.00 |
150.000 |
150.000 |
150.000 |
150.000 |
|
|
|
|
|
|
|
|
|
|
7 |
Excess borrowings (representing short fall in net working capital) (Item 9 minus item
10) |
-- |
-- |
-- |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
NET WORTH STATEMENT
NETWORTH OF THE DIRECTORS OF GEN NEXT MOTORS LIMITED AS ON 31ST MARCH
2014
(RS. IN MILLIONS)
|
Sr. No. |
Name of the Directors/ Partners/
Proprietor |
Value of Movable Assets |
Value of Immovable Assets |
Total Value of Assets |
Value of Liabilities |
Networth |
|
A |
B |
C |
D |
E |
F |
G |
|
|
|
|
|
|
|
|
|
1 |
Sumit V. Gupta |
65.247 |
15.158 |
80.405 |
37.057 |
43.348 |
|
|
|
|
|
|
|
|
|
2 |
Pooja S. Gupta |
19.583 |
33.956 |
53.539 |
2.6363 |
50.906 |
Details of Immovable
Assets:
|
Sr. No. |
Property Type (Commercial/ Industrial/
Residential) |
Full Address of the Property |
Area In Sq. Fit. |
Property Owned Since When |
Whether Free or Mortgaged |
|
|
|
|
|
|
|
|
1 |
Agricultural Land |
Desai Village, Karjat, Maharashtra, India |
0.48 Acres |
1988 |
No |
|
|
|
|
|
|
|
|
2 |
Under Construction Flat |
LNA Continental Tower, Chembur, Mumbai, Maharashtra, India |
3852 Sq.fit |
Under Construction |
No |
|
|
|
|
|
|
|
|
3 |
Commercial Area |
Palm Beach Road, Vashi, Mumbai, Maharashtra, India |
399.81 Aq. mtrs |
2003 |
Yes |
|
|
|
|
|
|
|
|
4 |
Residential Flat |
Brahma Sun City, Kalyani Nagar, Pune, Maharashtra, India |
1197 Sq. fit |
2012 |
No |
|
|
|
|
|
|
|
|
5 |
Chembur Premises |
Flat No. 1104 and 1105, MM Spectra Building, Chembur, Mumbai, Maharashtra, India |
305.58 Sq.mt. |
2013 |
Yes |
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10483896 |
24/02/2014 |
150,000,000.00 |
STATE BANK OF INDIA |
STERLING CENTER
BRANCH, GROUND FLOOR, STERLING C |
C00076778 |
|
2 |
10406097 |
31/12/2012 |
1,429,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B68560796 |
|
3 |
10406099 |
31/12/2012 |
2,138,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B68561281 |
|
4 |
10406105 |
31/12/2012 |
2,138,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B68568088 |
|
5 |
10406113 |
31/12/2012 |
2,138,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B68580349 |
|
6 |
10406096 |
31/12/2012 |
2,260,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B68560309 |
|
7 |
10406106 |
31/12/2012 |
2,858,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B68569300 |
|
8 |
10406110 |
31/12/2012 |
2,858,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B.
GANDHI MARG, FORT, MUMBAI, |
B68570795 |
|
9 |
10406091 |
31/12/2012 |
4,520,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B68559517 |
|
10 |
10406093 |
31/12/2012 |
4,520,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B68559996 |
|
11 |
10302884 |
04/08/2011 |
20,000,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK
1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI,
MAHARASHTRA - 4007 |
B19038116 |
|
12 |
10303144 |
04/08/2011 |
20,000,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B19094358 |
|
13 |
10299785 |
23/02/2012 * |
100,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B33540824 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Land and Building
Furniture
and Office Equipment
Plant
and Machinery
------------------------------------------------------------------------------------------------------------------------------
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.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.