MIRA INFORM REPORT
|
Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
11/1, Sharda Centre, Erandawana, Pune – 411004, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of
Establishment : |
11.03.1970 |
|
|
|
|
Capital
Investment : |
Rs. 47.235 Millions |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Basic Dyes and Chemicals. |
|
|
|
|
No. of Employees
: |
13 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track record. Trade relations are fair. Business is active. Payment terms are
usually correct. The concern can be considered normal 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had willfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to sack another 300 employees. The
lay-offs follow a spate of senior-level exits over the past two years, starting
with of its founder. The overall lay-offs could number around 600 and are
driven by the need to cut costs, says a former employee.
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. Sudhir Heblekar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9823652648 |
|
Date : |
23.09.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
11/1, Sharda Centre, Erandawana, Pune – 411004, Maharashtra, India |
|
Tel. No.: |
91-20-25466390/ 24450157/ 67 |
|
Mobile No.: |
91-9823652648 [Mr. Sudhir Heblekar] |
|
Fax No.: |
91-20-25467170 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
S No. 159, 1/2B, Near Vasantdada Sugar Institute, Manjri
(BK), Taluka Haveli, Pune – 412307, Maharashtra, India |
|
Tel. No.: |
91-20-26990514 |
PARTNERS
|
Name : |
Mr. Rajeev Purushottam Bodas |
|
Designation : |
Partner |
|
Address : |
40/13, Chaitanya Apartments, Bhonde Colony, Erandwane, Pune – 411004,
Maharashtra, India |
|
PAN No.: |
AASPB3595P |
|
|
|
|
Name : |
Mr. Vishwas Purushottam Bodas |
|
Designation : |
Partner |
|
Address : |
38, Vijayanagar Colony, 2111, Sadashiv Peth, Pune – 411030,
Maharashtra, India |
|
PAN No.: |
AASPB3596Q |
|
|
|
|
Name : |
Mr. Ashish Rajeev Bodas |
|
Designation : |
Partner |
|
Address : |
40/13, Chaitanya Apartments, Bhonde Colony, Erandwane, Pune – 411004,
Maharashtra, India |
|
PAN No.: |
AKTPB4576F |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir Heblekar |
|
Designation : |
Accounts Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Basic Dyes and Chemicals. |
|
|
|
|
Exports : |
|
|
Products : |
Dyes and Chemicals |
|
Countries : |
· USA Asia Africa Some European Countries |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
|
Suppliers : |
OCI Corporation, South Korea |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
Clariant, China |
||||||||||||||||||
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||||||||||||||||||
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No. of Employees : |
13 (Approximately) |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
· Union Bank of India 1184/4, Shranath Plaza, Dyneshwar Padhuke Chowk, FC Road, Pune –
411004, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Cash Credit = Rs. 8.500 Millions [From Union Bank of India]
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Patki and Soman Chartered Accountants |
|
Address : |
101/102, Parmesh Plaza, 1213, Sadashiv Peth, Near Hatti Ganpati, Pune
– 411030, Maharashtra, India |
|
Tel. No.: |
91-20-24456748 |
|
Fax No.: |
91-20-24454145 |
|
|
|
|
Related Parties : |
· Ashlesha Equipment Company Sharada Data Systems Sharada Erectors Private Limited Sharada Sports Centre
|
CAPITAL STRUCTURE
PARTNER’S CAPITAL ACCOUNT
[RS. IN MILLIONS]
|
PARTICULARS |
31.03.2014 |
|
|
|
|
Partner’s Capital Account |
4.300 |
|
|
|
|
Partner’s Current Account |
42.935 |
|
|
|
|
Total |
47.235 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
47.235 |
43.562 |
34.675 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Profit and Loss A/c. |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
47.235 |
43.562 |
34.675 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.093 |
8.208 |
6.877 |
|
|
2] Unsecured Loans |
5.409 |
2.249 |
2.249 |
|
|
TOTAL BORROWING |
13.502 |
10.457 |
9.126 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
60.737 |
54.019 |
43.801 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.120 |
10.871 |
9.390 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.166 |
0.166 |
0.166 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.107
|
28.943 |
25.456 |
|
|
Sundry Debtors |
23.699
|
10.751 |
6.970 |
|
|
Cash & Bank Balances |
10.699
|
4.845 |
2.556 |
|
|
Other Current Assets |
2.201
|
2.102 |
1.181 |
|
|
Loans & Advances |
2.085
|
2.905 |
2.393 |
|
Total
Current Assets |
53.791
|
49.546 |
38.556 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.484
|
4.031 |
3.551 |
|
|
Other Current Liabilities |
1.382
|
1.664 |
0.760 |
|
|
Provisions |
0.474
|
0.869 |
0.000 |
|
Total
Current Liabilities |
5.340
|
6.564 |
4.311 |
|
|
Net Current Assets |
48.451
|
42.982 |
34.245 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
60.737 |
54.019 |
43.801 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
88.512 |
41.390 |
33.481 |
|
|
|
Other Income |
1.761 |
0.575 |
0.959 |
|
|
|
TOTAL |
90.273 |
41.965 |
34.440 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Direct Expenses |
32.943 |
27.520 |
26.110 |
|
|
|
Indirect Expenditure |
14.535 |
5.201 |
5.083 |
|
|
|
Interest to Bank |
0.669 |
0.974 |
0.842 |
|
|
|
Interest to Partner |
3.401 |
3.154 |
2.296 |
|
|
|
Salary to Partner |
13.787 |
2.769 |
1.998 |
|
|
|
Increase/ (Decrease) in stock of finished goods and work in progress |
13.985 |
(0.616) |
(4.246) |
|
|
|
TOTAL |
79.320 |
39.002 |
32.083 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
10.953 |
2.963 |
2.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.720 |
1.329 |
1.175 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
8.233 |
1.634 |
1.182 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
9.12
|
3.89 |
3.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.30
|
3.95 |
3.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.49
|
2.70 |
2.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.04 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.29
|
0.24 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.07
|
7.55 |
8.94 |
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) |
|
Partner’s Capital |
34.675 |
43.562 |
47.235 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
34.675 |
43.562 |
47.235 |
|
|
|
|
|
|
Secured Loans |
6.877 |
8.208 |
8.093 |
|
Unsecured Loans |
2.249 |
2.249 |
5.409 |
|
Total
borrowings |
9.126 |
10.457 |
13.502 |
|
Debt/Equity ratio |
0.263 |
0.240 |
0.286 |
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) |
|
Sales |
33.481 |
41.390 |
88.512 |
|
|
|
23.622 |
113.849 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
33.481 |
41.390 |
88.512 |
|
Profit |
1.182 |
1.634 |
8.233 |
|
|
3.53% |
3.95% |
9.30% |
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 |
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 |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
|
|
|
|
Loans and Deposits |
1.339 |
1.339 |
|
Anupama Deshpande |
0.600 |
0.600 |
|
Other Loans [Joshi] |
0.160 |
0.160 |
|
Krishna Tecnochem |
0.150 |
0.150 |
|
Ashlesha Equipments Company |
3.160 |
0.000 |
|
|
|
|
|
Total |
5.409 |
2.249 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE
SHEET
MR.
ASHISH RAJEEV BODAS
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
|
0.508 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Profit and Loss A/c. |
|
|
4.555 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
5.063 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
14.021 |
|
|
TOTAL BORROWING |
|
|
14.021 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
19.084 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
14.138 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
2.358 |
|
|
Other Current Assets |
|
|
3.202 |
|
|
Loans & Advances |
|
|
0.015 |
|
Total
Current Assets |
|
|
5.575 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
(0.289) |
|
|
Other Current Liabilities |
|
|
0.918 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.629 |
|
|
Net Current Assets |
|
|
4.946 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
19.084 |
|
------------------------------------------------------------------------------------------------------------------------------
BALANCE
SHEET
MR. VISHWAS PURUSHOTTAM BODAS
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
|
52.239 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Profit and Loss A/c. |
|
|
3.784 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
56.023 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.580 |
|
|
TOTAL BORROWING |
|
|
0.580 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
56.603 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.557 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
46.515 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.623 |
|
|
Other Current Assets |
|
|
13.634 |
|
|
Loans & Advances |
|
|
(3.343) |
|
Total
Current Assets |
|
|
10.914 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
(0.173) |
|
|
Other Current Liabilities |
|
|
1.556 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
1.383 |
|
|
Net Current Assets |
|
|
9.531 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
56.603 |
|
------------------------------------------------------------------------------------------------------------------------------
BALANCE
SHEET
MR. RAJEEV PURUSHOTTAM BODAS
(RS. IN MILLIONS)
|
LIABILITIES |
31.03.2013 |
ASSETS |
31.03.2013 |
|
Capital Account |
29.658 |
Current Liabilities |
2.271 |
|
|
|
|
|
|
Loans [Liability] |
20.754 |
Fixed Assets |
8.730 |
|
|
|
|
|
|
Current Assets |
44.213 |
Investments |
62.001 |
|
|
|
|
|
|
|
|
Branch / Division |
30.758 |
|
Profit and Loss A/c |
9.135 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
103.760 |
Total |
103.760 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING
CAPITAL REQUIREMENTS
COMPARATIVE OPERATING
STATEMENT
(RS. IN MILLIONS)
|
SR. NO. |
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
|
Estimates |
Projected |
Projected |
|
1 |
|
GROSS SALES |
|
|
|
|
|
i. |
Domestic sales [Existing
products] |
38.194 |
42.013 |
46.214 |
|
|
ii. |
Export sales [Existing
products] |
270.000 |
360.000 |
414.000 |
|
|
i. |
Domestic sales [Proposed
products] |
308.194 |
402.013 |
460.214 |
|
|
ii. |
Export sales [Proposed products] |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Gross Sales |
308.194 |
402.013 |
460.214 |
|
|
|
|
|
|
|
|
2 |
|
Less: VAT |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
3 |
|
Net Sales (1 -
2) |
308.194 |
402.013 |
460.214 |
|
|
|
|
|
|
|
|
4 |
|
Growth in Sales % |
248% |
30% |
14% |
|
|
|
|
|
|
|
|
5 |
|
COST OF SALES |
|
|
|
|
|
i.) |
Raw materials - Imported |
0.000 |
0.000 |
0.000 |
|
|
|
Raw materials - Indigenous |
237.500 |
309.700 |
352.500 |
|
|
|
|
|
|
|
|
|
ii) |
Stores and Consumables - Imported |
-- |
-- |
-- |
|
|
|
Stores and Consumables - Indigenous |
1.000 |
1.100 |
1.210 |
|
|
|
Sub-Total of
Total RM + Stores |
238.500 |
310.800 |
353.710 |
|
|
|
|
|
|
|
|
|
iii) |
Power and fuel |
9.013 |
9.915 |
10.906 |
|
|
|
|
|
|
|
|
|
iv) |
Direct Labour |
10.000 |
11.000 |
12.100 |
|
|
|
|
|
|
|
|
|
v) |
Repairs and Maintenance |
1.377 |
1.800 |
1.980 |
|
|
|
|
|
|
|
|
|
vi) |
Other Manufacturing Expenses |
10.600 |
15.000 |
16.500 |
|
|
|
|
|
|
|
|
|
vii) |
Depreciation |
1.821 |
1.537 |
1.297 |
|
|
|
|
|
|
|
|
|
viii) |
Other Expenses |
1.800 |
2.500 |
3.500 |
|
|
|
Miscellaneous |
1.800 |
2.500 |
3.500 |
|
|
|
Excise Duty on Closing Stocks |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
ix) |
SUB TOTAL (I TO VI) |
273.111 |
352.551 |
399.993 |
|
|
|
|
|
|
|
|
|
x) |
ADD: Opening stocks-in-Process) |
3.514 |
5.927 |
7.731 |
|
|
|
Sub-total |
276.625 |
358.478 |
407.724 |
|
|
|
|
|
|
|
|
|
xi) |
Deduct : Closing
stocks-in-process |
5.927 |
7.731 |
8.850 |
|
|
|
|
|
|
|
|
|
xii) |
Cost of
Production |
270.698 |
350.747 |
398.874 |
|
|
|
|
|
|
|
|
|
xiii) |
Add : Opening stock of finished goods |
13.391 |
23.707 |
30.924 |
|
|
|
|
|
|
|
|
|
|
SUB-TOTAL |
284.089 |
374.454 |
429.798 |
|
|
|
|
|
|
|
|
|
xiv) |
Deduct Closing stock of finished goods |
23.707 |
30.924 |
35.401 |
|
|
|
|
|
|
|
|
|
xv) |
SUB-TOTAL (Total cost of Sales) |
260.382 |
343.530 |
394.397 |
|
|
|
|
|
|
|
|
6 |
|
Gross Profit |
47.812 |
58.483 |
65.818 |
|
|
|
|
|
|
|
|
|
|
Gross Profit / Net Sales % |
16% |
15% |
14% |
|
|
|
|
|
|
|
|
7 |
|
Selling Expenses |
1.200 |
2.000 |
2.500 |
|
|
|
|
|
|
|
|
8 |
|
Administrative Expenses |
21.500 |
25.000 |
27.500 |
|
|
|
|
|
|
|
|
|
|
SUB-TOTAL (5+6) |
283.082 |
370.530 |
424.397 |
|
|
|
|
|
|
|
|
9 |
|
Operating profit before interest (3-7) |
25.112 |
31.483 |
35.818 |
|
|
|
|
|
|
|
|
10 |
|
Interest on CC |
5.161 |
6.881 |
6.881 |
|
|
|
|
|
|
|
|
11 |
|
Interest on TL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Other Interest |
3.000 |
3.000 |
3.200 |
|
|
|
|
|
|
|
|
|
|
Interest |
8.161 |
9.881 |
10.081 |
|
|
|
|
|
|
|
|
12 |
|
Operating profit after interest (8-9) |
16.951 |
21.602 |
25.737 |
|
|
|
|
|
|
|
|
13 |
(i) |
Add other non-operating income |
|
|
|
|
|
(a) |
Interest/ Dividend Royalties etc. |
0.350 |
0.400 |
0.500 |
|
|
(b) |
Other Income / Other Non-Operating |
0.000 |
0.000 |
3.000 |
|
|
(c) |
Finished Goods |
-- |
-- |
-- |
|
|
|
Sub-total ( income ) |
0.350 |
0.400 |
0.500 |
|
|
|
|
|
|
|
|
|
(ii) |
Deduct other non-operating expenses |
|
|
|
|
|
(a) |
Intangibles written off |
-- |
-- |
-- |
|
|
(b) |
Loss on Sale of Fixed Assets |
-- |
-- |
-- |
|
|
(c) |
Bad Debts written off |
0.050 |
0.050 |
0.100 |
|
|
(d) |
Other |
-- |
-- |
-- |
|
|
|
Sub-total ( expenses ) |
0.050 |
0.050 |
0.100 |
|
|
|
|
|
|
|
|
|
(iii) |
Net of other non-operating income/expenses |
0.300 |
0.350 |
3.400 |
|
|
|
|
|
|
|
|
14 |
|
Profit Before
Tax/Loss |
17.251 |
21.952 |
29.137 |
|
|
|
|
|
|
|
|
15 |
|
Provision for taxes |
|
|
|
|
|
(a) |
Direct |
5.330 |
6.783 |
9.003 |
|
|
(b) |
Deferred |
-- |
-- |
-- |
|
|
(c) |
Other Tax Adjustment |
-- |
-- |
-- |
|
|
|
Sub-total of Taxes |
5.330 |
6.783 |
9.003 |
|
|
|
|
|
|
|
|
16 |
|
Net Profit/ Loss
[PAT] [14-15] |
11.920 |
15.169 |
20.133 |
|
|
|
|
|
|
|
|
17 |
|
Cash Accruals |
13.741 |
16.705 |
21.430 |
|
|
|
|
|
|
|
|
18 |
|
Dividend paid + IT on Dividend |
-- |
-- |
-- |
|
|
|
Dividend Rate |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
19 |
|
Retained Profit [16-18] |
11.920 |
15.169 |
20.133 |
|
|
|
|
|
|
|
|
20 |
|
Retained Cash Profit [17-18] |
13.741 |
16.705 |
21.430 |
|
|
|
|
|
|
|
|
21 |
|
Retained Profit/ Net Profit [%] |
100.00 |
100.00 |
100.00 |
|
|
|
|
|
|
|
|
22 |
|
RM Content in Gross Sales |
74% |
75% |
76% |
|
|
|
|
|
|
|
|
23 |
|
RM Content in Net Sales |
74% |
75% |
76% |
|
|
|
|
|
|
|
|
24 |
|
PBDIT [including other Income] |
27.232 |
33.370 |
40.515 |
|
|
|
|
|
|
|
|
25 |
|
PBDIT / Net Sales |
9% |
8% |
9% |
|
|
|
|
|
|
|
|
26 |
|
Operating Profit / Net Sales |
6% |
5% |
6% |
|
|
|
|
|
|
|
|
27 |
|
PBT / Net Sales |
6% |
5% |
6% |
|
|
|
|
|
|
|
|
28 |
|
PAT / Net Sales |
4% |
4% |
4% |
|
|
|
|
|
|
|
|
29 |
|
Cash Accruals / Net Sales |
4% |
4% |
5% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
SR. NO. |
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
|
Estimates |
Projected |
Projected |
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
1 |
|
Short-term borrowings from Banks (including bills purchased,
discounted and excess borrowing placed on repayment basis) |
|
|
|
|
|
|
(i) From applicant banks |
97.500 |
97.500 |
97.500 |
|
|
|
(ii) From other banks |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
SUB TOTAL |
97.500 |
97.500 |
97.500 |
|
|
|
|
|
|
|
|
2 |
|
Short term borrowings from others |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
3 |
|
Sundry Creditors (Trade) |
2.500 |
3.000 |
3.500 |
|
|
|
|
|
|
|
|
4 |
|
Advance payments from customers/ deposits from dealers |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
5 |
|
Net Provision for taxes |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
6 |
|
Dividend payable |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
7 |
|
Other statutory liabilities (due within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
8 |
|
Deposits/installments of term loans/DPGs/ Debentures, etc. (due within
one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
9 |
|
Other current liabilities and provisions (due within 1 Year) (specify
major items) |
1.120 |
1.550 |
1.580 |
|
|
(i) |
Other Provisions and Liabilities |
1.000 |
1.200 |
1.220 |
|
|
(ii) |
Other Advances |
0.120 |
0.350 |
0.360 |
|
|
|
SUB-TOTAL (B) |
3.620 |
4.550 |
5.080 |
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT
LIABILITIES |
101.120 |
102.050 |
102.580 |
|
|
|
|
|
|
|
|
11 |
|
Debentures (not maturing within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
12 |
|
Preference shares (redeemable after one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
13 |
|
Term loans (less next years) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
14 |
|
Term Loans from other Banks [excluding installments due next year] |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
15 |
|
Deferred Payment Credits (excluding installments due within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
16 |
|
Term deposits (repayable after one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
17 |
|
Other term liabilities |
0.000 |
0.000 |
0.000 |
|
|
|
Unsecured Loan |
0.000 |
0.000 |
0.000 |
|
|
|
Deferred Tax Liability |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
18 |
|
TOTAL TERM
LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
19 |
|
TOTAL OUTSIDE
LIABILITIES |
101.120 |
102.050 |
102.580 |
|
|
|
|
|
|
|
|
|
|
NET WORTH |
33.657 |
33.657 |
33.657 |
|
|
|
|
|
|
|
|
20 |
|
Ordinary Share Capital |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
21 |
|
General Reserve |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
22 |
|
Revaluation Reserve |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
23 |
|
Adjustment for previous years cost |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
24 |
|
Other reserve (excluding provisions) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
25 |
|
Deferred tax liability |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
26 |
|
Surplus (+) or deficit (-) in Profit and Loss Account |
24.641 |
39.810 |
59.943 |
|
|
|
|
|
|
|
|
27 |
|
NET WORTH |
58.298 |
73.467 |
93.600 |
|
|
|
|
|
|
|
|
28 |
|
TOTAL
LIABILITIES |
159.418 |
175.517 |
196.180 |
|
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
29 |
|
Cash and bank balances |
11.000 |
11.200 |
11.400 |
|
|
|
|
|
|
|
|
30 |
|
Govt. and Other Trustee Securities |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
31 |
|
Fixed Deposits with Banks |
1.000 |
1.000 |
1.000 |
|
|
|
|
|
|
|
|
32 |
|
Domestic Receivable incl. BP and BD |
13.000 |
10.500 |
10.700 |
|
|
|
|
|
|
|
|
33 |
|
Export Receivable incl. BP and BD |
69.148 |
85.204 |
95.521 |
|
|
|
|
|
|
|
|
34 |
|
Deferred Receivable [due within 1 year] |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
35 |
|
Inventory: |
39.569 |
47.655 |
53.781 |
|
|
(i) |
Raw materials - Imported |
-- |
-- |
-- |
|
|
|
Raw materials - Indigenous |
9.135 |
8.000 |
8.500 |
|
|
|
|
|
|
|
|
|
|
(ii) Stock-In-Process |
5.927 |
7.731 |
8.850 |
|
|
|
|
|
|
|
|
|
|
(iii) Finished goods |
23.707 |
30.924 |
35.401 |
|
|
|
|
|
|
|
|
|
|
(iv) Other Consumable Spares |
0.800 |
1.000 |
1.030 |
|
|
|
(a) Packing
Material |
0.500 |
0.600 |
0.610 |
|
|
|
(b) Spares and Stores |
0.300 |
0.400 |
0.420 |
|
|
|
|
|
|
|
|
36 |
|
Advance to suppliers of raw materials and stores and spares |
1.500 |
1.200 |
1.055 |
|
|
|
|
|
|
|
|
|
|
Other Loans and Advances |
2.500 |
1.500 |
1.700 |
|
|
|
|
|
|
|
|
37 |
|
Advance payment of taxes |
5.330 |
4.000 |
4.500 |
|
|
|
|
|
|
|
|
38 |
|
Other Current assets (Specify major items) |
5.521 |
3.444 |
3.970 |
|
|
(a) |
Finished Goods |
-- |
-- |
-- |
|
|
(b) |
Deposits |
1.800 |
1.400 |
1.470 |
|
|
(c) |
Interest Accrued |
1.200 |
0.650 |
1.000 |
|
|
(d) |
Others |
2.521 |
1.394 |
1.500 |
|
|
|
|
|
|
|
|
39 |
|
TOTAL CURRENT
ASSETS |
148.568 |
165.703 |
183.627 |
|
|
|
|
|
|
|
|
40 |
|
Gross Block (Land and Building machinery, work-in-process) |
16.796 |
16.796 |
19.296 |
|
|
|
|
|
|
|
|
41 |
|
Add: Capital Exp. Work in progress |
-- |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
42 |
|
Depreciation to date |
6.946 |
8.482 |
8.243 |
|
|
|
|
|
|
|
|
43 |
|
NET BLOCK |
9.580 |
8.314 |
11.053 |
|
|
|
|
|
|
|
|
|
|
OTHER
NON-CURRENT ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
44 |
|
Investment in subsidiary Co./affiliates |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
45 |
|
Other Investments |
1.000 |
1.500 |
1.500 |
|
|
|
|
|
|
|
|
46 |
|
Advances to suppliers of capital goods |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
47 |
|
Sundry Debtors exceeding 6 months |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
48 |
|
Deferred receivables (maturity exceeding one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
49 |
|
Other non-Current Investments |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
50 |
|
Non-consumables stores and spares |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
51 |
|
Dues from Directors / Long Dues etc.
|
-- |
-- |
-- |
|
|
|
|
|
|
|
|
52 |
|
TOTAL OTHER NON-CURRENT ASSETS |
1.000 |
1.500 |
1.500 |
|
|
|
|
|
|
|
|
53 |
|
Intangible assets |
|
|
|
|
|
|
Preliminary Expenses |
-- |
-- |
-- |
|
|
|
Share Issue Expenses written off |
-- |
-- |
-- |
|
|
|
Patents, Goodwill etc. |
-- |
-- |
-- |
|
|
|
Deferred revenue expenditure |
-- |
-- |
-- |
|
|
|
Miscellaneous expenditure |
-- |
-- |
-- |
|
|
|
Profit and loss A/c. |
-- |
-- |
-- |
|
54 |
|
Total Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
55 |
|
TOTAL ASSETS |
159.418 |
175.517 |
196.181 |
|
|
|
|
|
|
|
|
56 |
|
TANGIBLE NETWORTH [TNW] |
58.298 |
73.467 |
93.600 |
|
|
|
|
|
|
|
|
57 |
|
NET WORKING CAPITAL [NWC] |
47.448 |
63.653 |
81.047 |
|
|
|
|
|
|
|
|
58 |
|
Current Ratio |
1.47 |
1.62 |
1.79 |
|
|
|
|
|
|
|
|
|
|
Capital Employed |
58.298 |
73.467 |
93.600 |
|
|
|
|
|
|
|
|
|
|
EBIDTA |
26.932 |
33.020 |
37.151 |
|
|
|
|
|
|
|
|
|
|
Net Profit/ Capital Employed % |
20% |
21% |
22% |
|
|
|
|
|
|
|
|
|
|
Term Liabilities/ Adj. TNW |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
59 |
|
TOL/ TNW |
1.73 |
1.39 |
1.10 |
|
|
|
|
|
|
|
|
60 |
|
ROCE [PBDIT/TTA] |
0.17 |
0.19 |
0.21 |
|
|
|
|
|
|
|
|
61 |
|
Debt / Equity |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
62 |
|
TOL / Equity |
0.63 |
0.58 |
0.52 |
|
|
|
|
|
|
|
|
63 |
|
EBIT/ Int |
3.08 |
3.19 |
3.55 |
|
|
|
|
|
|
|
|
64 |
|
Inventory + Receivables as days |
39% |
36% |
35% |
------------------------------------------------------------------------------------------------------------------------------
FUNDS
FLOW STATEMENT
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
Estimates |
Projected |
Projected |
|
1 |
LONG TERM SOURCES |
|
|
|
|
|
[a] Net profit after tax |
11.920 |
15.169 |
20.133 |
|
|
[b] Depreciation |
1.821 |
1.537 |
1.297 |
|
|
[c] Intangibles written off |
0.000 |
0.000 |
0.000 |
|
|
[d] Increase in Capital and Reserves |
0.000 |
0.000 |
0.000 |
|
|
[e] Increase in Term Liability |
0.000 |
0.000 |
0.000 |
|
|
[i] Decrease in Fixed Assets |
0.000 |
0.000 |
0.000 |
|
|
[ii] Decrease in Other non-current Assets |
0.000 |
0.000 |
0.000 |
|
|
[f] Others (Unsecured Loans) |
0.000 |
0.000 |
0.000 |
|
|
[g] Total |
13.741 |
16.705 |
21.430 |
|
|
|
|
|
|
|
2 |
LONG TERM USES |
|
|
|
|
|
[a] Net Loss |
0.000 |
0.000 |
0.000 |
|
|
[b] Increase in Intangibles |
0.000 |
0.000 |
0.000 |
|
|
[c] Decrease in Capital and Reserve/ Share
Buyback |
0.000 |
0.000 |
0.000 |
|
|
[d] Decrease in Term Liabilities |
5.749 |
0.000 |
0.000 |
|
|
i)
Increase in Fixed Assets |
0.000 |
0.000 |
0.000 |
|
|
ii)
Increase in Non-Current Assets |
0.834 |
0.500 |
0.000 |
|
|
iii)
Increase in Intangibles / Dep. Adjustment |
-- |
-- |
-- |
|
|
[e] Dividend paid |
0.000 |
0.000 |
0.000 |
|
|
[f] Total |
6.583 |
0.500 |
2.500 |
|
|
|
|
|
|
|
3 |
Long term Surplus
[+], Deficit [-] [1-2] |
7.158 |
16.205 |
18.930 |
|
|
|
|
|
|
|
4 |
SHORT TERM SOURCES |
|
|
|
|
|
Increase in Bank Borrowings |
89.628 |
0.000 |
0.000 |
|
|
Increase in other Current liabilities |
0.000 |
0.930 |
0.530 |
|
|
Decrease in Inventory |
0.000 |
0.000 |
0.000 |
|
|
Decrease in Receivables |
0.000 |
0.000 |
0.000 |
|
|
Decrease in Cash/ Deposits/ Government Sec.
|
0.000 |
0.000 |
0.000 |
|
|
Decrease in Other Current Assets |
0.000 |
4.707 |
0.000 |
|
|
Total |
89.628 |
5.637 |
0.530 |
|
|
|
|
|
|
|
4 |
SHORT TERM USES |
|
|
|
|
|
Increase in Inventory |
22.664 |
8.086 |
6.126 |
|
|
Increase in Receivables |
60.033 |
13.556 |
10.517 |
|
|
Increase in Cash/ Deposits/ Government Sec. |
1.726 |
0.200 |
0.200 |
|
|
Increase in Other Current Assets |
11.188 |
0.000 |
1.081 |
|
|
Decrease in Other Current Liabilities |
1.175 |
0.000 |
0.000 |
|
|
Decrease in Bank Borrowings |
0.000 |
0.000 |
0.000 |
|
|
Total |
96.786 |
21.842 |
17.924 |
|
|
|
|
|
|
|
|
Summary of fund
flow analysis |
|
|
|
|
|
Long Term Sources |
13.741 |
16.705 |
21.430 |
|
|
|
|
|
|
|
|
Long Term Uses |
6.583 |
0.500 |
2.500 |
|
|
|
|
|
|
|
|
Surplus/ Deficit [I + ii] |
7.158 |
16.205 |
18.930 |
|
|
|
|
|
|
|
|
Short Term Sources |
89.628 |
5.637 |
0.530 |
|
|
|
|
|
|
|
|
Short Term Uses |
96.786 |
21.842 |
17.924 |
|
|
|
|
|
|
|
|
Surplus/ Deficit [Ii + iv] |
(7.158) |
(16.205) |
(17.394) |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
Estimates |
Projected |
Projected |
|
|
A. CURRENT ASSETS: |
|
|
|
|
1 |
Stock of Imported RM |
0.000 |
0.000 |
0.000 |
|
|
- Days Consumption |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
Stock of Indigenous RM |
9.135 |
8.000 |
8.500 |
|
|
- Days Consumption |
14.00 |
9.00 |
9.00 |
|
|
|
|
|
|
|
2 |
Stores
and Consumables |
0.800 |
1.000 |
1.030 |
|
|
- Days Consumption |
292.00 |
332.00 |
311.00 |
|
|
|
|
|
|
|
3 |
Stock
in process |
5.927 |
7.731 |
8.850 |
|
|
- Days Cost of Production |
8.00 |
8.00 |
8.00 |
|
|
|
|
|
|
|
4 |
Finished
Goods |
23.707 |
30.924 |
35.401 |
|
|
- Days Consumption |
33.00 |
33.00 |
33.00 |
|
|
|
|
|
|
|
5 |
Total
Inventory |
39.569 |
47.655 |
53.781 |
|
|
Total
Inventory / Net Sales [Days] |
46.86 |
43.27 |
42.65 |
|
|
|
|
|
|
|
6 |
Domestic
Receivables [Days] |
12.400 |
9.100 |
8.500 |
|
|
- Days Gross Domestic Sales |
-- |
- |
-- |
|
|
|
|
|
|
|
7 |
Export
Receivables [Days] |
69.148 |
85.204 |
95.521 |
|
|
- Days Gross Domestic Sales |
93.48 |
86.39 |
84.22 |
|
|
|
|
|
|
|
8 |
Total
Receivable |
82.148 |
95.704 |
106.221 |
|
|
-
Total Receivable of Gross Sales |
97.29 |
86.89 |
84.24 |
|
|
|
|
|
|
|
9 |
Sundry
Creditors [Trade] |
2.500 |
3.000 |
3.500 |
|
|
-
Total RM consumed days |
3.83 |
3.52 |
3.61 |
|
|
|
|
|
|
|
10 |
Total Current
Assets (To agree with 35 / Form III) |
148.568 |
165.703 |
183.627 |
|
|
|
|
|
|
|
|
Financed by |
|
|
|
|
|
Sundry Creditors % of Current Assets |
0.02 |
0.02 |
0.02 |
|
|
Other Current Liabilities % of Current
Assets |
0.01 |
0.01 |
0.01 |
|
|
Bank Finance % of Current Assets |
0.66 |
0.59 |
0.53 |
|
|
NWC % to Current Assets |
0.32 |
0.38 |
0.44 |
|
|
|
1.00 |
1.00 |
1.00 |
|
|
|
|
|
|
|
|
B. CURRENT
LAIBILITES |
|
|
|
|
|
(Other than bank
borrowings for working capital) |
|
|
|
|
10 |
Sundry
Creditors [Trade] |
2.500 |
3.000 |
3.500 |
|
|
- Total RM consumed days |
3.83 |
3.52 |
3.61 |
|
|
|
|
|
|
|
11 |
Advance from customers |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
12 |
Statutory
liabilities |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
13 |
Other
Current Liabilities [Short
term borrowings, unsecured loans, dividend payable, provision for tax,
instalments of TLDPG, public deposits, debentures, etc.] |
1.120 |
1.550 |
1.580 |
|
|
|
|
|
|
|
14 |
Total Current
Liabilities [10 to 17] (To agree with sub-total B-Form III) |
3.620 |
4.550 |
5.080 |
|
|
|
|
|
|
|
|
By PBS Method |
|
|
|
|
|
Total Current
Assets |
148.568 |
165.703 |
183.627 |
|
|
Other Current
Liabilities |
3.620 |
4.550 |
5.080 |
|
|
Working Capital
Gap |
144.948 |
161.153 |
178.547 |
|
|
Net Working Capital |
47.448 |
63.653 |
81.047 |
|
|
Bank Finance |
97.500 |
97.500 |
97.500 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF ASSESSED BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
SR. NO |
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
Estimates |
Projected |
Projected |
|
1 |
Total Current Assets (Form IV) |
148.568 |
165.703 |
183.627 |
|
|
|
|
|
|
|
2 |
Other Current Liabilities (other than bank
borrowings) (14 of Form IV) |
3.620 |
4.550 |
5.080 |
|
|
|
|
|
|
|
3 |
Working Capital Gap (WCP) (1-2) |
144.948 |
161.153 |
178.547 |
|
|
|
|
|
|
|
4 |
Minimum stipulated net working Capital -
25% of total current assets other than Export Receivables (as at 28(ii) of
form III) |
37.142 |
41.426 |
45.907 |
|
|
|
|
|
|
|
5 |
Actual/projected net working capital (45 in
form III) |
47.448 |
63.653 |
81.047 |
|
|
|
|
|
|
|
6 |
Item 3 minus item 4 |
107.806 |
119.727 |
132.641 |
|
|
|
|
|
|
|
7 |
Item 3 minus item 5 |
97.500 |
97.500 |
97.500 |
|
|
|
|
|
|
|
8 |
Assessed bank finance (item 6 or 7
whichever is less) |
97.500 |
97.500 |
97.500 |
|
|
|
|
|
|
|
9 |
Excess borrowings, if any representing
short fall in NWC (4-5) |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
MR.
ASHISH RAJEEV BODAS
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2013 |
|
ASSETS |
|
|
Fixed Assets |
0.000 |
|
|
|
|
Investment |
|
|
Investment in Land |
0.469 |
|
|
|
|
Capital in the Firms |
1.444 |
|
|
|
|
Investment in Shares / Mutual Fund |
10.971 |
|
|
|
|
Investment in LIC/ PPF/ Deposits |
1.254 |
|
|
|
|
Current Assets |
|
|
Investment in Projects |
0.000 |
|
|
|
|
Cash and Bank |
2.358 |
|
|
|
|
TDS |
0.641 |
|
|
|
|
Receivables |
0.000 |
|
|
|
|
Deposits |
0.000 |
|
|
|
|
Balances with firm |
1.644 |
|
|
|
|
Advance paid to creditors |
0.289 |
|
|
|
|
Loans and advances [Other Assets] |
0.015 |
|
|
|
|
TOTAL ASSETS |
19.085 |
|
|
|
|
LIABILITIES |
|
|
Bank Secured loan |
0.000 |
|
|
|
|
Property advances received |
0.000 |
|
|
|
|
Unsecured loan |
14.021 |
|
|
|
|
TOTAL LIABILITIES |
14.021 |
|
|
|
|
NETWORTH |
5.064 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
MR. VISHWAS PURUSHOTTAM BODAS
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2013 |
|
ASSETS |
|
|
Fixed Assets |
0.557 |
|
|
|
|
Investment |
|
|
Capital in the Firms |
8.097 |
|
|
|
|
Investment in Land |
4.036 |
|
|
|
|
Investment in Gold/ Jewellery |
0.264 |
|
|
|
|
Investment in Shares |
28.461 |
|
|
|
|
Investment in LIC/ PPF/ Deposits |
4.102 |
|
|
|
|
Current Assets |
|
|
Receivables |
3.130 |
|
|
|
|
Deposits interest and Other |
0.114 |
|
|
|
|
Cash and Bank |
1.340 |
|
|
|
|
TDS |
0.534 |
|
|
|
|
Advance paid to creditors |
0.173 |
|
|
|
|
Branch Division |
5.795 |
|
|
|
|
TOTAL ASSETS |
56.603 |
|
|
|
|
LIABILITIES |
|
|
Bank Secured loan |
0.000 |
|
|
|
|
Unsecured loan |
0.580 |
|
|
|
|
Other Liability – Creditors etc. |
0.000 |
|
|
|
|
TOTAL LIABILITIES |
0.580 |
|
|
|
|
NETWORTH |
56.023 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
MR. RAJEEV PURUSHOTTAM BODAS
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2013 |
|
ASSETS |
|
|
Fixed Assets |
8.730 |
|
|
|
|
Investment |
|
|
Investment in Land |
2.116 |
|
|
|
|
Investment in Gold/ Jewellery |
9.548 |
|
|
|
|
Investment in Shares |
22.142 |
|
|
|
|
Investment in LIC/ PPF/ Deposits |
4.641 |
|
|
|
|
Current Assets |
|
|
Investment in Projects |
30.758 |
|
|
|
|
Cash and Bank |
5.429 |
|
|
|
|
TDS |
4.166 |
|
|
|
|
Receivables |
0.147 |
|
|
|
|
Deposits |
1.394 |
|
|
|
|
Balance receivable from firms |
23.278 |
|
|
|
|
Advance paid to creditors |
2.271 |
|
|
|
|
Loans and advances [Other Assets] |
62.427 |
|
|
|
|
TOTAL ASSETS |
177.047 |
|
|
|
|
LIABILITIES |
|
|
Bank Secured loan |
20.480 |
|
|
|
|
Property Advances received |
117.500 |
|
|
|
|
Unsecured loan |
0.274 |
|
|
|
|
TOTAL LIABILITIES |
138.254 |
|
|
|
|
NETWORTH |
38.793 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION OF MACHINERY
(FOR: M/S. DECCAN DYES AND
CHEMICAL INDUSTRIES)
FACTORY SHED AT S. NO. 159-B, 1/2,
MANJARI [BK], PUNE
[RS. IN MILLIONS]
|
PARTICULARS |
FAIR MARKET VALUE |
|
|
|
|
Fair Market Value of Machinery |
17.137 |
|
|
|
|
Realizable Value = 10% Less than Fair Market Value |
15.390 |
|
|
|
|
Forced Sale Value = 20% Less than Fair Market Value |
13.680 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Borewell
Factory
Building
Godown
Furniture
and Fixture
Plant
and Machinery
Electrical
Equipment
Lab
Equipment
Vehicles
Office
Equipment
Computers
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 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. 61.03 |
|
|
1 |
Rs. 99.99 |
|
Euro |
1 |
Rs. 78.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.