MIRA INFORM REPORT
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Report No. : |
315776 |
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Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPARTAN ENGINEERING INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
111, Spartan House, New Tejpal Industrial Estate, Andheri Kurla Road,
Sakinaka, Mumbai – 400072, Maharashtra |
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Tel. No.: |
91-22-40550000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
30.09.1988 |
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Com. Reg. No.: |
11-049025 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Million |
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CIN No.: [Company Identification
No.] |
U74210MH1988PTC049025 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS38832D |
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PAN No.: [Permanent Account No.] |
AAACS7816F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Construction Equipment. |
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No. of Employees
: |
125 (Approximately) |
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RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 460000 |
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Status : |
Satisfactory |
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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 satisfactory track record. Management of the company has failed to file its latest financial for
the year 2014 with the government department. As per available financial of 2013, profitability of the company seems
to be low. However, general financial position of the company seems to be
decent. The rating also takes into consideration extensive industry experience
of Spartan’s promoter and its established relationship with its customers. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating = BB+ |
|
Rating Explanation |
Have inadequate credit quality and carry
high credit risk. |
|
Date |
May 20, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating = A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
May 20, 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. Babu Bangera |
|
Designation : |
Accounts Executive |
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Contact No.: |
91-22-40550113 |
|
Date : |
13.04.2015 |
LOCATIONS
|
Registered/ Head Office/ Factory : |
111, Spartan House, New Tejpal Industrial Estate, Andheri Kurla Road, Sakinaka,
Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-40550000/ 40550200/ 25304037/ 25304038/ 25304039/ 25304040/ 40550113 |
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Mobile No.: |
91-9323768675 (Mr. Vikram Mahendra Mehta) |
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Fax No.: |
91-22-40550122/ 28516679/ 25414100 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Offices : |
Located at: · Ahmedabad · Bangalore · Chennai · Hyderabad · Kolkata · New Delhi ·
Pune |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Mahendra Pranjivandas Mehta |
|
Designation : |
Director |
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Address : |
148/13, Vasant Building, Parmeshwaran Marg, Wadala, Mumbai – 400031,
Maharashtra, India |
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Date of Birth/Age : |
24.09.1946 |
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Date of Appointment : |
01.06.2005 |
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DIN No.: |
00364038 |
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Name : |
Mr. Hiral Vikram Mehta |
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Designation : |
Director |
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Address : |
148/13, Vasant Building, Parmeshwaran Marg, Wadala, Mumbai – 400031,
Maharashtra, India |
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Date of Birth/Age : |
20.04.1983 |
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Date of Appointment : |
15.02.2005 |
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DIN No.: |
00364176 |
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Name : |
Mr. Vikram Mahendra Mehta |
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Designation : |
Director |
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Address : |
148/13, Vasant Building, Parmeshwaran Marg, Wadala, Mumbai – 400031,
Maharashtra, India |
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Date of Birth/Age : |
26.11.1977 |
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Date of Appointment : |
30.09.1998 |
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DIN No.: |
00364223 |
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Name : |
Mr. Rajul Mahendra Mehta |
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Designation : |
Director |
|
Address : |
148/13, Vasant Building, Parmeshwaran Marg, Wadala, Mumbai – 400031,
Maharashtra, India |
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Date of Birth/Age : |
01.05.1950 |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
01763492 |
KEY EXECUTIVES
|
Name : |
Mr. Babu Bangera |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Mahendra Pranjivandas Mehta |
|
10010 |
|
Vikram Mahendra Mehta |
|
8750 |
|
Rajul Mahendra Mehta |
|
3750 |
|
Girish P. Mehta (HUF) |
|
10 |
|
Mukesh Pranjivandas Mehta |
|
10 |
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Mahendra Pranjivandas Mehta (HUF) |
|
10 |
|
Hiral Vikram Mehta |
|
2460 |
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Total |
|
25000 |
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Names of Preference Shareholders |
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No. of Shares |
|
Mahendra Pranjivandas Mehta |
|
10000 |
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Vikram Mahendra Mehta |
|
8750 |
|
Rajul Mahendra Mehta |
|
3750 |
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Hiral Vikram Mehta |
|
2500 |
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Total |
|
25000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Construction Equipment. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Machinery |
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Countries : |
· Dubai · Nepal · Europe · America · Sri Lanka · Africa |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
125 (Approximately) |
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Bankers : |
·
ICICI Bank Limited |
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Facilities : |
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Financial Institution : |
Kotak Mahindra Prime Limited |
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Auditors : |
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Name : |
R.R. Muni and Company Chartered Accountants |
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Address : |
2543, Gokul Building No 55, Gandhinagar, Bandra [East], Mumbai –
400051, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFR2711F |
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Associates : |
· Spartan Engineering Company · M.R. Engineering Corporation · Spartan International · Unique Engineers |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000 |
Equity Shares |
Rs. 100/- each |
Rs. 15.000 Million |
|
50,000 |
Preference Shares |
Rs. 100/- each |
Rs. 5.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 20.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Million |
|
25,000 |
Preference Shares |
Rs. 100/- each |
Rs. 2.500 Million |
|
|
|
|
|
|
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Total |
|
Rs. 5.000 Million |
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Million |
|
50,000 |
Preference Shares |
Rs. 100/- each |
Rs. 5.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 10.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Million |
|
25,000 |
Preference Shares |
Rs. 100/- each |
Rs. 2.500 Million |
|
|
|
|
|
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Total |
|
Rs. 5.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
157.454 |
152.785 |
144.660 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
162.454 |
157.785 |
149.660 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
61.313 |
66.585 |
59.504 |
|
(b) Deferred tax liabilities (Net) |
0.530 |
0.995 |
1.510 |
|
(c)
Other long term liabilities |
2.330 |
1.952 |
0.240 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
64.173 |
69.532 |
61.254 |
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
246.459 |
181.733 |
121.004 |
|
(b)
Trade payables |
174.031 |
114.703 |
126.196 |
|
(c)
Other current liabilities |
62.411 |
39.043 |
40.554 |
|
(d)
Short-term provisions |
36.546 |
34.129 |
39.692 |
|
Total
Current Liabilities (4) |
519.447 |
369.608 |
327.446 |
|
|
|
|
|
|
TOTAL |
746.074 |
596.925 |
538.360 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
118.109 |
131.090 |
150.881 |
|
(ii)
Intangible Assets |
5.759 |
5.058 |
1.254 |
|
(iii)
Capital work-in-progress |
4.865 |
1.298 |
0.000 |
|
(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 |
3.079 |
2.890 |
2.526 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
131.812 |
140.336 |
154.661 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
218.365 |
169.683 |
93.018 |
|
(c)
Trade receivables |
281.492 |
190.029 |
192.717 |
|
(d)
Cash and cash equivalents |
50.761 |
38.636 |
35.320 |
|
(e)
Short-term loans and advances |
57.128 |
55.308 |
60.683 |
|
(f)
Other current assets |
6.516 |
2.933 |
1.961 |
|
Total
Current Assets |
614.262 |
456.589 |
383.699 |
|
|
|
|
|
|
TOTAL |
746.074 |
596.925 |
538.360 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
868.597 |
688.478 |
|
|
|
Other Income |
|
28.728 |
21.626 |
|
|
|
TOTAL |
898.974 |
897.325 |
710.104 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
245.105 |
204.414 |
|
|
|
Purchases of Stock-in-Trade |
|
344.596 |
213.713 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(48.948) |
6.154 |
|
|
|
Employees benefits expense |
|
100.007 |
71.322 |
|
|
|
Other expenses |
|
192.574 |
144.534 |
|
|
|
TOTAL |
871.053 |
833.334 |
640.137 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(Including
Financial Expenses) |
63.991 |
69.967 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
30.339 |
22.057 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
27.921 |
33.652 |
47.910 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
20.778 |
21.001 |
19.792 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
7.143 |
12.651 |
28.118 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.894 |
3.945 |
8.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
5.249 |
8.706 |
19.362 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
140.217 |
132.963 |
116.412 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.525 |
0.871 |
1.936 |
|
|
|
Dividends (Including of DDT) |
0.581 |
0.581 |
0.875 |
|
|
BALANCE CARRIED
TO THE B/S |
144.360 |
140.217 |
132.963 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings (FOB Basis) |
1.642 |
0.000 |
2.642 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
23.835 |
14.677 |
0.559 |
|
|
|
Components and spare parts |
271.915 |
12.698 |
6.855 |
|
|
|
Capital Goods |
2.350 |
2.320 |
22.374 |
|
|
TOTAL IMPORTS |
298.100 |
29.695 |
29.788 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
104.98 |
348 |
774 |
|
Expected Sales (2014-2015): Rs. 920.000 Million
The above information has been parted by Mr. Babu Bangera (Accounts
Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA
|
1.00 |
2.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA
|
7.37 |
10.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.96 |
2.12 |
5.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.08 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.89 |
1.57 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.24 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
144.660 |
152.785 |
157.454 |
|
Net
worth |
149.660 |
157.785 |
162.454 |
|
|
|
|
|
|
Long-term borrowings |
59.504 |
66.585 |
61.313 |
|
Short term borrowings |
121.004 |
181.733 |
246.459 |
|
Total
borrowings |
180.508 |
248.318 |
307.772 |
|
Debt/Equity
ratio |
1.206 |
1.574 |
1.895 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
710.104 |
898.072 |
898.974 |
|
|
|
26.470 |
0.100 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
710.104 |
898.072 |
898.974 |
|
Profit |
19.362 |
8.706 |
5.249 |
|
|
2.73% |
0.97% |
0.58% |
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10530160 |
15/07/2014 |
50,000,000.00 |
BANK OF INDIA |
SAKINAKA BRANCH, SAGAR TECH PLAZA,
ANDHERI-KURLA ROAD, SAKINAKA, ANDHERI (E), MUMBAI, MAHARASHTRA |
C32928053 |
|
2 |
10209226 |
03/03/2010 |
7,500,000.00 |
BANK OF INDIA |
SAKI NAKA BRANCH, SAGAR TECH PLAZA, ANDHERI
KURLA ROAD, SAKI NAKA, MUMBAI, MAHARASHTRA - 400072, INDIA |
A81962698 |
|
3 |
10209225 |
03/03/2010 |
10,000,000.00 |
BANK OF INDIA |
SAKI NAKA BRANCH, SAGAR TECH PLAZA, ANDHERI
KURLA ROAD, SAKI NAKA, MUMBAI, MAHARASHTRA - 400072, INDIA |
A81962631 |
|
4 |
10181325 |
22/09/2009 |
30,000,000.00 |
BANK OF INDIA |
SAKI NAKA BRANCH, SAGAR TECH PLAZA, ANDHERI
KURLA ROAD, SAKI NAKA, MUMBAI, MAHARASHTRA - 400072, INDIA |
A71240964 |
|
5 |
10166428 |
15/07/2014 * |
481,200,000.00 |
BANK OF INDIA |
SAKI NAKA BRANCH, SAGAR TECH PLAZA, ANDHERI
KURLA ROAD, SAKI NAKA, MUMBAI, MAHARASHTRA - 400072, INDIA |
C32927907 |
|
6 |
10166425 |
19/06/2009 |
45,000,000.00 |
BANK OF INDIA |
SAKI NAKA BRANCH, SAGAR TECH PLAZA, ANDHERI
KURLA ROAD, SAKI NAKA, MUMBAI, MAHARASHTRA - 400072, INDIA |
A65530115 |
|
7 |
10022358 |
04/10/2006 |
10,000,000.00 |
BANK OF INDIA |
SAKI NAKA BRANCH, SAGAR TECH PLAZA, ANDHERI
KURLA ROAD, SAKI NAKA, MUMBAI, MAHARASHTRA - 400072, INDIA |
A05545884 |
|
8 |
10008645 |
15/07/2014 * |
431,200,000.00 |
BANK OF INDIA |
SAKI NAKA BRANCH, SAGAR TECH PLAZA, ANDHERI
KURLA ROAD, SAKI NAKA, MUMBAI, MAHARASHTRA - 400072, INDIA |
C32927584 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans From Bank Kotak
Mahindra Bank |
1.618 |
0.000 |
|
From Others Bajaj
Finserve Limited |
1.514 |
0.000 |
|
Loans and advances from related parties From Directors Hiral
V. Mehta |
2.500 |
2.500 |
|
Mahendra
P. Mehta |
20.000 |
17.000 |
|
Rajul
M. Mehta |
5.500 |
5.000 |
|
Vikram
M. Mehta |
3.500 |
0.7000 |
|
From Shareholders Mahendra
P. Mehta (HUF) |
0.500 |
0.300 |
|
Mukesh
Mehta |
3.000 |
3.000 |
|
Other loans and advances Valia
Tradelink Private Limited |
5.000 |
3.800 |
|
Shree
Netress Exports Private Limited |
0.000 |
0.100 |
|
Olive
Overseas Limited |
0.000 |
2.000 |
|
Glory
Polyfilms Limited |
0.000 |
8.368 |
|
Immense
Packaging Limited |
6.426 |
0.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related Parties From Directors Hiral
V. Mehta |
0.499 |
0.219 |
|
Vikram
M. Mehta |
0.883 |
0.897 |
|
Rajul
M. Mehta |
1.459 |
0.595 |
|
Mahendra
P. Mehta |
8.534 |
7.296 |
|
From Shareholders Mahendra
P. Mehta (HUF) |
0.270 |
0.075 |
|
Mukesh
Mehta |
2.250 |
1.500 |
|
Other loans and advances Immense
Packaging Private Limited |
0.735 |
0.142 |
|
Glory
Polyfilms Limited |
0.084 |
0.000 |
|
Shree
Netres Exports Private Limited |
0.450 |
0.000 |
|
Olive
Overseas Limited |
0.900 |
0.000 |
|
|
|
|
|
Total |
65.622 |
53.492 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
(a) Guarantees |
4.973 |
16.427 |
|
(b) Other money for which the company is contingently liable (L/C Charges) |
38.282 |
29.249 |
|
|
|
|
|
Total |
43.255 |
45.676 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office equipment
·
Computer software
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. 62.37 |
|
|
1 |
Rs. 91.60 |
|
Euro |
1 |
Rs. 66.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
REK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.