MIRA INFORM REPORT
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Report No. : |
337169 |
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Report Date : |
17.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
POGGEN-AMP NAGARSHETH POWERTRONICS PRIVATE LIMITED (w.e.f. 07.07.2009) |
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Formerly Known
As : |
POGGEN-AMP NAGARSHETH POWERTROMICS PRIVATE LIMITED (w.e.f 08.01.2008) POGGEN-AMP NAGARSHETH POWERTROMICS LIMITED |
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Registered
Office : |
C-1/B, 4402, Phase-IV, GIDC Estate, Vatva, Ahmedabad – 382445, Gujarat |
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Tel. No.: |
91-79-25842908 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.06.1992 |
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Com. Reg. No.: |
04-017786 |
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Capital
Investment / Paid-up Capital : |
Rs.30.000 Million |
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CIN No.: [Company Identification
No.] |
U72200GJ1992PTC017786 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACP9130B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is engaged in the business of manufacturing of stampings for electrical
motors, pumps etc. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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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 possesses moderate operational performance and it has
incurred huge losses from its operational activities. Rating further constrained on account of company’s moderate financial
risk profile and unfavorable gap between trade payables to its receivables. However, trade relations are reported as fair. Payments are reported
to be slow but correct. In view of operational losses, the company can be considered for
business dealing 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank
facilities = BB+ |
|
Rating Explanation |
Inadequate credit
quality and high credit risk. |
|
Date |
March 27, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank
facilities = A4+ |
|
Rating Explanation |
Minimal degree of
safety and very high credit risk. |
|
Date |
March 27, 2015 |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Ms. Mitali |
|
Designation : |
Office Executive |
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Contact No.: |
91-79-61603908 |
|
Date : |
14.08.2015 |
LOCATIONS
|
Registered Office / Works : |
C-1/B, 4402, Phase-IV, GIDC Estate, Vatva, Ahmedabad – 382445, Gujarat,
India |
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Tel. No.: |
91-79-25842908 / 909 |
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Fax No.: |
91-79-25842808 / 25840445 |
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E-Mail : |
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Website : |
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Factory : |
Survey No. 121/122, Kheda – Dholka Highway Village – Vavdi, District –
Kheda, Gujarat, India |
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Corporate Office: |
207, 2nd Floor, Mauryansh Elanza, Shyamal Cross Road,
Satellite, Ahmedabad – 380015, Gujarat, India |
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Tel. No.: |
91-79-61603908 |
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Fax No.: |
91-79-66632808 |
DIRECTORS
As on 27.09.2014
|
Name : |
Mr. Gauttam Nipinbhai Nagarsheth |
|
Designation : |
Managing Director |
|
Address : |
462, Kaival, Satyagrah Chhavni, Satelite, Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
29.08.1956 |
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Date of Appointment : |
08.08.1992 |
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DIN No.: |
01014853 |
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Name : |
Mr. Parshva Nagarsheth |
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Designation : |
Director |
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Address : |
462, Kaivaal Lane - 20, Satyagrah Chhavni, Satellite Road, Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
12.02.1983 |
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Date of Appointment : |
25.05.2004 |
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DIN No.: |
01136219 |
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|
|
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Name : |
Mr. Gaurang Nipinbhai Nagarsheth |
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Designation : |
Director |
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Address : |
462, Kaival, Satyagrah Chhavni,, Satelite, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
16.11.1958 |
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Date of Appointment : |
08.08.1992 |
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DIN No.: |
01136324 |
KEY EXECUTIVES
|
Name : |
Ms. Mitali |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS
As on 27.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Gauttam N. Nagarsheth |
|
604775 |
|
Gaurang N. Nagarsheth |
|
792500 |
|
Parshwa G. Nagarsheth |
|
86617 |
|
Parav G. Nagarsheth |
|
89117 |
|
Param G. Nagarsheth |
|
74117 |
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Rachana G. Nagarsheth |
|
26825 |
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Poma G. Nagarsheth |
|
28200 |
|
Gaurali N. Nagarsheth |
|
68200 |
|
Parthvi G. Nagarsheth |
|
69117 |
|
Gauttambhai Nipinbhai Nagarsheth-Huf |
|
88200 |
|
Gaurin Nipinbhai Nagarsheth |
|
71832 |
|
Mukesh D. Doshi |
|
495500 |
|
Mahendra D. Doshi |
|
500000 |
|
Raichand M. Mehta |
|
5000 |
|
Total |
|
3000000 |
As on 27.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
66.64 |
|
Other top fifty shareholders |
33.36 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject
is engaged in the business of manufacturing of stampings for electrical
motors, pumps etc. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Financial Institution : |
Tata Capital Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
Shah and Shah Associates Chartered Accountants |
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Address : |
702, Anike, Near Municipal Market, Navrangpura, Ahmedabad – 380009, Gujarat, India |
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PAN No.: |
AAHFS7036F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company
: |
Posco Poggen-Amp Electrical Steel Private Limited |
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Entities where
Control Exists : |
NKP Infrastructure Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
30.000 |
30.000 |
30.000 |
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(b) Reserves &
Surplus |
211.867 |
249.883 |
238.245 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
241.867 |
279.883 |
268.245 |
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(3) Non-Current
Liabilities |
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|
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|
(a) long-term borrowings |
146.901 |
144.862 |
182.992 |
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(b) Deferred tax
liabilities (Net) |
10.762 |
29.763 |
23.996 |
|
(c) Other long term
liabilities |
9.278 |
9.278 |
0.000 |
|
(d) long-term provisions |
0.684 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
167.625 |
183.903 |
206.988 |
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(4) Current Liabilities |
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|
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(a) Short term borrowings |
396.497 |
407.906 |
521.802 |
|
(b) Trade payables |
207.321 |
150.454 |
77.255 |
|
(c) Other current
liabilities |
257.751 |
251.327 |
96.666 |
|
(d) Short-term provisions |
0.374 |
0.000 |
0.000 |
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Total Current Liabilities
(4) |
861.943 |
809.687 |
695.723 |
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|
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TOTAL |
1271.435 |
1273.473 |
1170.956 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
420.021 |
345.753 |
281.433 |
|
(ii) Intangible Assets |
0.395 |
0.377 |
0.393 |
|
(iii) Capital
work-in-progress |
30.505 |
111.219 |
127.726 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
109.016 |
109.050 |
85.941 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
45.803 |
33.386 |
16.201 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
605.740 |
599.785 |
511.694 |
|
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|
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(2) Current assets |
|
|
|
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(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
302.910 |
123.797 |
161.503 |
|
(c) Trade receivables |
145.967 |
258.078 |
206.704 |
|
(d) Cash and cash equivalents |
31.242 |
42.166 |
48.477 |
|
(e) Short-term loans and
advances |
179.881 |
227.585 |
221.909 |
|
(f) Other current assets |
5.695 |
22.062 |
20.669 |
|
Total Current Assets |
665.695 |
673.688 |
659.262 |
|
|
|
|
|
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TOTAL |
1271.435 |
1273.473 |
1170.956 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1155.500 |
521.800 |
NA |
|
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
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PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(39.276) |
(56.832) |
NA |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
42.504 |
38.920 |
NA |
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PROFIT/ (LOSS) BEFORE TAX |
(81.780) |
(95.752) |
NA |
|
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Less |
TAX |
(25.057) |
(30.986) |
NA |
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PROFIT/ (LOSS) AFTER TAX
|
(56.723) |
(64.766 |
10.247 |
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(64.604) |
0.162 |
(10.085) |
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Balance Carried to the
B/S |
(121.327) |
(64.604) |
0.162 |
|
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EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
118.494 |
182.123 |
46.635 |
|
|
Design & Development
Charges Income |
4.347 |
6.679 |
8.885 |
|
|
TOTAL EARNINGS |
122.841 |
188.802 |
55.520 |
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IMPORTS |
|
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Raw Materials |
251.576 |
316.229 |
209.021 |
|
|
Components & Spares |
0.000 |
0.000 |
0.210 |
|
|
Capital Goods |
6.282 |
5.612 |
63.237 |
|
|
TOTAL IMPORTS |
257.858 |
321.841 |
272.468 |
|
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|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(18.90) |
(21.58) |
3.41 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(4.91) |
(12.41) |
NA |
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.22) |
(9.09) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.34) |
(0.34) |
NA |
|
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|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
2.25 |
1.97 |
2.63 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
0.77 |
0.83 |
0.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
238.245 |
249.883 |
211.867 |
|
Net worth |
268.245 |
279.883 |
241.867 |
|
|
|
|
|
|
long-term borrowings |
182.992 |
144.862 |
146.901 |
|
Short term borrowings |
521.802 |
407.906 |
396.497 |
|
Total borrowings |
704.794 |
552.768 |
543.398 |
|
Debt/Equity ratio |
2.627 |
1.975 |
2.247 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
521.800 |
1155.500 |
|
|
121.445 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
521.800 |
1155.500 |
|
Profit |
(64.766) |
(56.723) |
|
|
(12.41%) |
(4.91%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---------------------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
---------------------- |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
During the year the Company has achieved Net Sales of Rs. 1155.500 Million against Rs.521.800 Million in F.Y.2012-13. The Company has suffered Net Loss of Rs.56.700 Million which is mainly due to lower capacity utilization being initial phase of commercial operations and operations were stabilizing and were yet to achieve breakeven level, higher fixed overheads, higher interest cost which increased operating cost. Also product mix was not optimum due to late receipt of approval for product from Power Grid Corporation of India (PGCIL).
CORPORATE INFORMATION
Subject is a private Limited company registered under the Companies Act, 1956 and is engaged in the business of manufacturing of stampings for electrical motors, pumps etc. The manufacturing facilities of the company are situated at Vatva, Ahmedabad and at Village Vavdi, Taluka Matar, and District Kheda.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Deposits |
87.530 |
71.099 |
|
Other loans and advances |
2.366 |
0.000 |
|
Total |
89.896 |
71.099 |
INDEX OF CHARGES
|
S.
No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10435081 |
07/05/2013 |
33,000,000.00 |
UCO BANK |
GANDHINAGAR BRANCH, NR.PRAGNA PETROL PUMP GH 5 CIRCLE, SECTOR 16, GANDHINAGAR - 382016, GUJARAT, INDIA |
B78833597 |
|
2 |
10261098 |
03/12/2010 |
30,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B00876474 |
|
3 |
10248768 |
02/11/2010 |
100,000,000.00 |
EXPORT - IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A98537459 |
|
4 |
10204865 |
31/03/2014 * |
716,000,000.00 |
UCO BANK |
GANDHINAGAR BRANCH, PLOT NO. 445, SECTOR - 16, GANDHINAGAR - 382016, GUJARAT, INDIA |
C05542493 |
|
5 |
10196814 |
12/01/2010 |
38,000,000.00 |
UCO BANK |
GANDHINAGAR BRANCH, NR.PRAGNA PETROL PUMP GH 5 CIRCLE, SECTOR 16, GANDHINAGAR - 382016, GUJARAT, INDIA |
A77340636 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Factory Equipments
- Furniture and fixtures
- Vehicles
- Office equipment
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.65.12 |
|
|
1 |
Rs.101.61 |
|
Euro |
1 |
Rs.72.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
27 |
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.