MIRA
INFORM REPORT
[]
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Report No. : |
290416.2 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
METRO SHOES LIMITED [w.e.f.
14.05.2007] |
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Formerly Known
As : |
METRO SHOES PRIVATE LIMITED |
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Registered
Office : |
3rd Floor, Metro House, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
19.01.1977 |
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Com. Reg. No.: |
11-019449 |
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Capital
Investment / Paid-up Capital : |
Rs.147.205 Millions |
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CIN No.: [Company Identification
No.] |
U19200MH1977PLC019449 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19987C |
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PAN No.: [Permanent Account No.] |
AAACM4754E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is a retailer in fashion footwear, bags and
accessories. |
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No. of Employees
: |
2370 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s well-established market presence and
strong brand recognition supported by decent profitability levels and comfortable
liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities = AA |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
January 23, 2015 |
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Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A1+ |
|
Rating Explanation |
Very strong degree fo safety and carry lowest credit risk. |
|
Date |
January 23, 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Kaushal Parekh |
|
Designation : |
Finance Controller |
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Contact No.: |
91-9167215639 |
|
Date : |
14.10.2014 |
LOCATIONS
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Registered Office : |
3rd Floor, Metro House, Shahid Bhagat Singh Road, Colaba
Causeway, Mumbai – 400001, Maharashtra, India |
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Tel. No.: |
91-22-66560444/ 66560400 |
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Fax No.: |
91-22-66560490 |
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E-Mail : |
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Website : |
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Area : |
9400 Sq. Ft. |
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Location : |
Rented |
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Factory : |
D2/D3, Bhagwan Sheth Estate, Next to Arihant Commercial Complex, Purna
Village, Bhiwandi, Thane – 421302, Maharashtra, India |
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E-Mail : |
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Location : |
Rented |
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Branches : |
Located At:
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Location : |
Rented / Leased |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Manojkumar Madangopal Maheshwari |
|
Designation : |
Director |
|
Address : |
Maheshwari House, 36 L Jagmohandas Marg, Mumbai – 400036, |
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Date of Birth/Age : |
08.08.1957 |
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Date of Appointment : |
24.09.2009 |
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DIN No.: |
00012341 |
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Name : |
Mr. Aruna Bhagawan Advani |
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Designation : |
Director |
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Address : |
6/65, Shyam Nivas, |
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Date of Appointment : |
21.09.2010 |
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DIN No.: |
00029256 |
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Name : |
Mr. Utpal Hemendra Sheth |
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Designation : |
Alternate Director |
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Address : |
B -27, Kumkum Apartment, Near Nanavati Hospital, S. V. Road, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
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Date of Birth/Age : |
20.06.1971 |
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Date of Appointment : |
14.03.2007 |
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Din No.: |
00081012 |
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Name : |
Mr. Aziza Rafique Malik |
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Designation : |
Whole Time Director |
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Address : |
Flat No.23/C, 20th Floor, Kanchanjunga, |
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Date of Birth/Age : |
05.04.1950 |
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Date of Appointment : |
01.04.2012 |
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PAN No.: |
AAXPM3312L |
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DIN No.: |
00167534 |
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Name : |
Mr. Rafique Abdul Malik |
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Designation : |
Whole Time Director |
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Address : |
Flat No.23/C, 20th Floor, Kanchanjunga, |
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Date of Birth/Age : |
30.10.1950 |
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Date of Appointment : |
01.04.2013 |
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Pan No.: |
AABPM5599H |
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DIN No.: |
00521563 |
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Name : |
Mr. Jalaluddin Jafferali Kamdar |
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Designation : |
Whole Time Director |
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Address : |
A-41, Yuwan Apartments, 413/414, Mount Mary Road, Bandra West, Mumbai
– 400050, Maharashtra, India |
|
Date of Birth/Age : |
66 Years |
|
Date of Appointment : |
01.04.2012 |
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Name : |
Mr. Farah Malik Bhanji |
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Designation : |
Managing Director |
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Address : |
203, Samudra Gaurav Apartments, 6A, Abdul Gaffar Khan Road, Worli Sea
Face, Worli, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
31.08.1976 |
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Date of Appointment : |
01.04.2013 |
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DIN No.: |
00530676 |
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Name : |
Mr. Rakesh Radheyshyam Jhunjhunwala |
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Designation : |
Director |
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Address : |
3 Sital Sagar, Sital Baug, 64, |
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Date of Birth/Age : |
05.07.1960 |
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Date of Appointment : |
14.03.2007 |
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Pan No.: |
AAEPJ2191B |
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DIN No.: |
00777064 |
KEY EXECUTIVES
|
Name : |
Mr. Kaushal Parekh |
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Designation : |
Finance Controller |
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Name : |
J J Desai |
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Designation : |
Secretary |
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Address : |
Flat No. A/3, Kaustubh Apartments, Adarsh Colony, Kopri, Thane East, 400603, Maharashtra, India |
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Date of Appointment : |
22.11.2012 |
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PAN No.: |
AEGPD3198E |
MAJOR SHAREHOLDERS
As on 31.03.2014
|
Category |
No. of Shares |
Percentage of Holding |
|
Promoters and Associates |
12390870 |
84.17 |
|
Public (Ms. Rekha
Jhunjhunwala) |
2185200 |
14.84 |
|
Others (FII/OCB/Private Bodies
Corporate/NRIs etc. |
144385 |
0.98 |
|
Total |
14720455 |
100.00 |
_MIRA%2016-Feb-2015_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is a retailer in fashion footwear, bags and
accessories. |
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Products : |
·
Fashion Footwear ·
Bags ·
Accessories |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Footwear |
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Countries : |
·
China ·
Brazil |
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Terms : |
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Selling : |
Cash and Others |
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Purchasing : |
Credit (30 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
2370 (Approximately) |
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Bankers : |
·
ICICI Bank Limited ·
HDFC Bank Limited ·
Axis Bank ·
State Bank of India |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Heritage, 3rd Floor, Near Gujarat Vidhyapith, Off Ashram
Road, Ahmedabad – 380014, Gujarat, India |
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Tel. No.: |
91-22-61854000 |
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Mobile No.: |
91-22-61854501 |
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PAN No.: |
AABFD7919A |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
Metmill Footwear Private Limited Address : Mumbai,
Maharashtra, India Line of Business
:
Distributor ship and retailing of footwear. |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/-each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14720455 |
Equity Shares |
Rs.10/-each |
Rs.147.205
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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|
|
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(a) Share Capital |
147.205 |
147.107 |
48.980 |
|
(b) Reserves &
Surplus |
2558.375 |
2030.887 |
1703.846 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
2705.580 |
2177.994 |
1752.826 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
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|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
17.612 |
|
(c) Other long term
liabilities |
25.233 |
21.291 |
15.834 |
|
(d) long-term provisions |
0.000 |
11.668 |
6.548 |
|
Total Non-current
Liabilities (3) |
25.233 |
32.959 |
39.994 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
711.606 |
554.808 |
516.305 |
|
(c) Other current
liabilities |
312.900 |
66.930 |
60.467 |
|
(d) Short-term provisions |
33.809 |
31.198 |
92.674 |
|
Total Current Liabilities
(4) |
1058.315 |
652.936 |
669.446 |
|
|
|
|
|
|
TOTAL |
3789.128 |
2863.889 |
2462.266 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
661.235 |
569.683 |
543.565 |
|
(ii) Intangible Assets |
7.609 |
10.705 |
12.159 |
|
(iii) Capital
work-in-progress |
9.736 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
6.628 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.275 |
1.275 |
1.275 |
|
(c) Deferred tax assets
(net) |
14.275 |
10.277 |
0.000 |
|
(d) Long-term Loan and Advances |
228.110 |
242.545 |
225.144 |
|
(e) Other Non-current
assets |
2.714 |
0.000 |
0.000 |
|
Total Non-Current Assets |
931.582 |
834.485 |
782.143 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
785.031 |
354.747 |
70.812 |
|
(b) Inventories |
1840.655 |
1440.669 |
1445.616 |
|
(c) Trade receivables |
11.403 |
24.990 |
20.488 |
|
(d) Cash and cash
equivalents |
77.053 |
108.536 |
59.862 |
|
(e) Short-term loans and
advances |
139.853 |
93.300 |
80.300 |
|
(f) Other current assets |
3.551 |
7.162 |
3.045 |
|
Total Current Assets |
2857.546 |
2029.404 |
1680.123 |
|
|
|
|
|
|
TOTAL |
3789.128 |
2863.889 |
2462.266 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
6360.910 |
5590.752 |
4641.539 |
|
|
Other Income |
47.719 |
36.237 |
32.336 |
|
|
TOTAL |
6408.629 |
5626.989 |
4673.875 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
3421.147 |
2735.318 |
2685.090 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(345.956) |
38.899 |
(394.555) |
|
|
Employees benefits
expense |
520.222 |
427.868 |
285.912 |
|
|
Other expenses |
1623.773 |
1430.586 |
1197.927 |
|
|
Prior Period Item |
0.000 |
49.551 |
0.000 |
|
|
TOTAL |
5219.186 |
4682.222 |
3774.374 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1189.443 |
944.767 |
899.501 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.843 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1189.443 |
943.924 |
899.501 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
109.946 |
76.432 |
39.803 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1079.497 |
867.492 |
859.698 |
|
|
|
|
|
|
|
Less |
TAX |
363.488 |
278.397 |
276.301 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
716.009 |
589.095 |
583.397 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
48.64 |
40.02 |
39.63 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
11.25
|
10.53 |
12.56 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
18.69
|
16.89 |
19.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.73 |
30.41 |
34.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40 |
0.40 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.70 |
3.11 |
2.51 |
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 |
48.980 |
147.107 |
147.205 |
|
Reserves & Surplus |
1703.846 |
2030.887 |
2558.375 |
|
Net worth |
1752.826 |
2177.994 |
2705.580 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
_MIRA%2016-Feb-2015_files/image004.gif)
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 |
4641.539 |
5590.752 |
6360.910 |
|
|
|
20.450 |
13.776 |
_MIRA%2016-Feb-2015_files/image006.gif)
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 |
4641.539 |
5590.752 |
6360.910 |
|
Profit |
583.397 |
589.095 |
716.009 |
|
|
12.57% |
10.54% |
11.26% |
_MIRA%2016-Feb-2015_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT = NOT AVAILABLE
|
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 |
Yes |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
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 |
Yes |
NOTE:
The registered office of the company has been shifted from Metro House, Colaba, Mumbai-400001, Maharashtra India to the present address w.e.f. 23.04.2007.
INDEX OF CHARGES
NO CHARGES EXIST FOR
COMPANY
FIXED ASSETS
· Furniture and Fixtures
· Machinery and Equipment
· Computers
· Motor Vehicles
· Computer equipments
· Leasehold improvements
· Office equipment
Intangible assets
· Brands and trade marks
· Computer software
· Copyrights
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.62.13 |
|
|
1 |
Rs.95.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
64 |
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.