MIRA INFORM REPORT
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Report No. : |
307228 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
INFRES METHODEX PRIVATE LIMITED (w.e.f.20.01.2015) |
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Formerly Known
As : |
INFRES METHODEX LIMITED |
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Registered
Office : |
Plot D-7, Block B-1, Mohan Cooperative Industrial Estate, Mathura
Road, New Delhi, Delhi – 110044 |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.01.1987 |
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Com. Reg. No.: |
55-026587 |
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Capital
Investment / Paid-up Capital : |
Rs. 7.500 Millions |
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CIN No.: [Company Identification
No.] |
U72200DL1987PTC026587 |
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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
: |
Manufacturer of and dealings in Office Automation Equipment. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company has reported increase in revenue and profitability. Although external borrowing seems to be increasing, the net worth
appears to be satisfactory. Trade relations are fair. Business is active. Payment terms are
reported regular and as per commitment. The company can be considered for business dealings with usual
business 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
January 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
January 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.
LOCATIONS
|
Registered Office : |
Plot D-7, Block B-1, Mohan Cooperative Industrial Estate, Mathura Road,
New Delhi, Delhi – 110044, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office : |
13/6, Mathura Road, (NH-2), Sector-32, Faridabad – 121003, Haryana,
India |
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Tel. No.: |
91-129-4225500/4225600 |
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Fax No.: |
91-129-4225699 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mahindar N Katariya |
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Designation : |
Chairman-cum-Managing Director |
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Address : |
A-225, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
16.11.1936 |
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Date of Appointment : |
30.05.1990 |
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DIN No.: |
00422997 |
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Other
Directorship :
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Name : |
Vivek Katariya |
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Designation : |
Managing Director |
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Address : |
A-225, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
01.10.1965 |
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Date of Appointment : |
01.04.1999 |
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DIN No.: |
00433675 |
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Other
Directorship :
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Name : |
Ganesh Katariya |
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Designation : |
Whole Time Director |
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Address : |
D-990, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
27.05.1959 |
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Date of Appointment : |
01.04.2003 |
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DIN No.: |
000423381 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mahindar N Katariya |
214610 |
28.61 |
|
Vivek Katariya |
187500 |
25.00 |
|
Indu Katariya |
75000 |
10.00 |
|
Renuka Katariya |
187500 |
25.00 |
|
Mahindra Katariya |
85390 |
11.39 |
|
Total |
750000 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of and dealings in Office Automation Equipment. |
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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 : |
Not Available |
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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 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Canara Bank, Maharani Bagh Branch, Ashram Chowk, New Delhi – 110014,
India |
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Facilities : |
-- |
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Auditors : |
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Name : |
K.C. Khanna and Company Chartered Accountants |
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Address : |
H-96, Connaught Circus, Delhi, India |
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PAN No.: |
AAAFK2984M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs. 10/-
each |
Rs. 7.500
Millions |
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|
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
7.500 |
7.500 |
7.500 |
|
(b) Reserves & Surplus |
471.734 |
376.575 |
348.278 |
|
(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 |
|
Total Shareholders’
Funds (1) + (2) |
479.234 |
384.075 |
355.778 |
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(3)
Non-Current Liabilities |
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
73.395 |
85.621 |
124.161 |
|
(c) Other long term
liabilities |
80.011 |
39.020 |
75.371 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
153.406 |
124.641 |
199.532 |
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(4)
Current Liabilities |
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|
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|
(a) Short term
borrowings |
21.019 |
2.019 |
23.666 |
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(b) Trade
payables |
251.189 |
39.158 |
43.708 |
|
(c) Other
current liabilities |
185.356 |
165.193 |
130.597 |
|
(d) Short-term
provisions |
111.262 |
72.767 |
58.678 |
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Total Current
Liabilities (4) |
568.826 |
279.137 |
256.649 |
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|
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TOTAL |
1201.466 |
787.853 |
811.959 |
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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 |
45.883 |
49.091 |
52.235 |
|
(ii) Intangible
Assets |
0.000 |
0.732 |
1.463 |
|
(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 |
0.700 |
0.700 |
55.761 |
|
(c) Deferred tax assets (net) |
10.816 |
9.448 |
7.755 |
|
(d) Long-term Loan and Advances |
137.904 |
143.229 |
20.272 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
195.303 |
203.200 |
137.486 |
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
31.235 |
69.780 |
25.350 |
|
(b)
Inventories |
195.877 |
120.502 |
129.276 |
|
(c) Trade
receivables |
430.405 |
98.466 |
153.749 |
|
(d) Cash
and cash equivalents |
283.181 |
256.125 |
314.821 |
|
(e) Short-term
loans and advances |
41.811 |
19.779 |
37.410 |
|
(f) Other
current assets |
23.654 |
20.001 |
13.867 |
|
Total
Current Assets |
1006.163 |
584.653 |
674.473 |
|
|
|
|
|
|
TOTAL |
1201.466 |
787.853 |
811.959 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
893.957 |
1268.519 |
|
|
|
Other Income |
|
67.160 |
20.705 |
|
|
|
TOTAL (A) |
11968.812 |
961.117 |
1289.224 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
30.210 |
40.028 |
|
|
|
Purchases of Stock-in-Trade |
|
403.823 |
869.540 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
7.763 |
(19.200) |
|
|
|
Employees benefits expense |
|
207.014 |
192.353 |
|
|
|
Other expenses |
|
111.162 |
119.803 |
|
|
|
TOTAL (B) |
1025.025 (Including
financial Expenses) |
759.972 |
1202.524 |
|
|
|
|
|
||
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
201.145 |
86.700 |
||
|
|
|
|
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||
|
Less |
FINANCIAL
EXPENSES (D) |
2.286 |
3.431 |
||
|
|
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||
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
171.787 |
198.859 |
83.269 |
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.834 |
5.181 |
5.542 |
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|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
166.953 |
193.678 |
77.727 |
|
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|
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|
|
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|
Less |
TAX (H) |
58.632 |
66.737 |
24.933 |
|
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|
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|
|
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|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
108.321 |
126.941 |
52.794 |
|
|
|
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|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
144.43 |
169.25 |
70.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
9.05
|
14.20 |
4.16 |
|
|
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|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.35
|
22.50 |
6.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.03 |
24.90 |
10.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.50 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.04 |
0.01 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77 |
2.09 |
2.63 |
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 |
7.500 |
7.500 |
7.500 |
|
Reserves & Surplus |
348.278 |
376.575 |
471.734 |
|
Net
worth |
355.778 |
384.075 |
479.234 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
23.666 |
2.019 |
21.019 |
|
Total
borrowings |
23.666 |
2.019 |
21.019 |
|
Debt/Equity
ratio |
0.067 |
0.005 |
0.044 |
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 |
1268.519 |
893.957 |
11968.812 |
|
|
|
(29.528) |
1,238.858 |
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 |
1268.519 |
893.957 |
11968.812 |
|
Profit |
52.794 |
126.941 |
108.321 |
|
|
4.16% |
14.20% |
0.91% |
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 |
No |
|
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 |
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 |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10487002 |
18/03/2014 |
66,000,000.00 |
CANARA BANK |
MAHARANI BAGH BRANCH, ASHRAM CHOWK, NEW DELHI, Delhi - 110014, INDIA |
C01182260 |
|
2 |
90043344 |
02/09/2013 * |
290,000,000.00 |
CANARA BANK |
MAHARANI BAGH BRANCH, NEW DELHI, Delhi - 110014, INDIA |
B85504686 |
|
3 |
90041782 |
02/09/2013 * |
10,000,000.00 |
CANARA BANK |
MAHARANI BAGH BRANCH, NEW DELHI, Delhi - 110014, INDIA |
B85504967 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Deposits from directors |
0.525 |
0.525 |
|
Deposits from others |
20.494 |
1.494 |
|
Total |
21.019 |
2.019 |
FIXED ASSETS
- Buildings
- Plant and
equipments
- Furniture and
fixtures
- Vehicles
- Office
Equipments
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. 62.20 |
|
|
1 |
Rs. 95.99 |
|
Euro |
1 |
Rs. 71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.