MIRA INFORM REPORT
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Report No. : |
305970 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MITRA INDUSTRIES PRIVATE LIMITED |
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Formerly Known
As : |
MITRA INDUSTRIES LIMITED |
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Registered
Office : |
A181, Okhla Industrial Area, Phase – 1, New Delhi – 110020, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.02.1995 |
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Com. Reg. No.: |
55-065200 |
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Capital Investment
/ Paid-up Capital : |
Rs.10.000 Millions |
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CIN No.: [Company Identification
No.] |
U74999DL1995PTC065200 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company’s business is Manufacturing of blood bags, CAPD Bags and
Medical Equipments and Accessories. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 10000 |
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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 rating is constrained on account of company’s moderate financial
risk profile and leverage capital structure of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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.
LOCATIONS
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Registered Office : |
A181, Okhla Industrial Area, Phase – 1, New Delhi – 110020, Delhi,
India |
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Tel. No.: |
91-129-2271068 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
14/4, Delhi Mathura Road, Delhi Mathura Road, Faridabad – 121001,
Haryana, India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Jatin Mahajan |
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Designation : |
Managing Director |
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Address : |
N-118, Greater Kailash – 1, New Delhi – 110048, Delhi, India |
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Date of Birth/Age : |
26.09.1975 |
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Date of Appointment : |
01.04.2012 |
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DIN No.: |
00392610 |
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Other
Directorship :
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Name : |
Mr. Nitin Mahajan |
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Designation : |
Managing Director |
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Address : |
N-118, Greater Kailash – 1, New Delhi – 110048, Delhi, India |
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Date of Birth/Age : |
28.10.1973 |
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Date of Appointment : |
01.11.2009 |
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DIN No.: |
00152138 |
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Other
Directorship :
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Name : |
Mr. Lalit Mahajan |
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Designation : |
Director |
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Address : |
N-118, Greater Kailash – 1, New Delhi – 110048, Delhi, India |
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Date of Birth/Age : |
13.03.1946 |
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Date of Appointment : |
08.02.1995 |
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DIN No.: |
00151769 |
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Other
Directorship :
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Name : |
Anila Mahajan |
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Designation : |
Director |
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Address : |
N-118, Greater Kailash – 1, New Delhi – 110048, Delhi, India |
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Date of Birth/Age : |
12.03.1952 |
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Date of Appointment : |
08.02.1995 |
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DIN No.: |
00152183 |
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Other
Directorship :
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MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Anila Mahajan |
300300 |
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Lalit Mahajan |
300100 |
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Nitin Mahajan |
100100 |
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Jatin Mahajan |
100100 |
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Lalit Mahajan & Sons HUF through Karta |
95000 |
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Jagdish Mitra & Sons HUF through Karta |
95000 |
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Lalit Mahajan Family Trust |
2100 |
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Sai Ganesh Trust |
1000 |
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Sai Krishna Trust |
1000 |
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Shiv Trust |
1000 |
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Sai Baba Endowment |
100 |
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Laxmiji Endowment |
100 |
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Rinku Mahajan |
2000 |
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Shilpa Aggarwal |
100 |
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Shivali Mahajan |
2000 |
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Total |
1000000 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
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Directors or relatives of Directors |
80.47 |
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Others |
19.53 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company’s business is Manufacturing of blood bags, CAPD Bags and
Medical Equipments and Accessories. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Countries : |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Auditors : |
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Name : |
M. Ram and Company Chartered Accountants |
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Address : |
1, Aradhana Colony, Sector – 13, R.K. Puram, New Delhi – 110066,
Delhi, India |
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Tel. No.: |
91-11-28752463 |
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PAN No.: |
AADPA2233J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Entities in which KMP can exercise significant influence : |
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CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
2000000 |
Equity Shares |
Rs.10/-each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/-each |
Rs.10.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves &
Surplus |
(5.847) |
(38.010) |
(18.310) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
4.153 |
(28.010) |
(8.310) |
|
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(3) Non-Current
Liabilities |
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|
(a) long-term borrowings |
452.500 |
527.500 |
365.000 |
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(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.753 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
456.253 |
527.500 |
365.000 |
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
14.812 |
10.617 |
39.714 |
|
(c) Other current
liabilities |
25.117 |
9.663 |
7.189 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
39.929 |
20.280 |
46.903 |
|
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|
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TOTAL |
500.335 |
519.770 |
403.593 |
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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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|
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(i) Tangible assets |
141.844 |
142.847 |
133.262 |
|
(ii) Intangible Assets |
127.170 |
146.256 |
112.248 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
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 |
0.181 |
0.181 |
0.181 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
269.195 |
289.284 |
245.691 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
132.620 |
147.422 |
81.958 |
|
(c) Trade receivables |
16.845 |
19.987 |
21.653 |
|
(d) Cash and cash
equivalents |
33.596 |
17.927 |
22.307 |
|
(e) Short-term loans and
advances |
23.141 |
26.251 |
14.576 |
|
(f) Other current assets |
24.938 |
18.899 |
17.408 |
|
Total Current Assets |
231.140 |
230.486 |
157.902 |
|
|
|
|
|
|
TOTAL |
500.335 |
519.770 |
403.593 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
270.769 |
|
|
|
Other Income |
|
|
3.092 |
|
|
TOTAL |
526.179 |
333.497 |
273.861 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
95.076 |
|
|
Employees benefits
expense |
|
|
72.388 |
|
|
Other expenses |
|
|
97.288 |
|
|
TOTAL |
453.961 |
317.090 |
264.752 |
|
|
|
(Including Financial
Expenses) |
(Including Financial
Expenses) |
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
9.109 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
0.096 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
72.218 |
16.407 |
9.013 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
40.107 |
36.102 |
44.355 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
32.111 |
(19.695) |
(35.342) |
|
|
|
|
|
|
|
Less |
TAX |
(0.052) |
0.005 |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
32.163 |
(19.700) |
NA |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
37.948 |
29.371 |
2.252 |
|
|
TOTAL EARNINGS |
37.948 |
29.371 |
2.252 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
21.449 |
35.236 |
10.746 |
|
|
Capital Goods |
4.278 |
6.130 |
0.416 |
|
|
TOTAL IMPORTS |
25.727 |
41.366 |
11.162 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
32.16 |
(19.70) |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Total Income |
(%) |
6.11
|
(5.90) |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA
|
NA |
3.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.42 |
(3.79) |
(8.76) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
7.73 |
0.70 |
4.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
108.96 |
(18.83) |
(43.92) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.79 |
11.37 |
3.37 |
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) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
(18.310) |
(38.010) |
(5.847) |
|
Net worth |
(8.310) |
(28.010) |
4.153 |
|
|
|
|
|
|
long-term borrowings |
365.000 |
527.500 |
452.500 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
365.000 |
527.500 |
452.500 |
|
Debt/Equity ratio |
(43.923) |
(18.833) |
108.957 |
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) |
|
Total Income |
273.861 |
333.497 |
526.179 |
|
|
|
21.776 |
57.776 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
333.497 |
526.179 |
|
Profit |
(19.700) |
32.163 |
|
|
(5.91%) |
6.11% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
NO CHARGES EXIST FOR
COMPANY
UNSECURED LOANS
|
PARTICULAR |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors |
452.500 |
527.500 |
|
Total |
452.500 |
527.500 |
FIXED ASSETS
- Building
- Plant and Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipments
- 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 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.61.87 |
|
|
1 |
Rs.94.06 |
|
Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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.