MIRA INFORM REPORT
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Report No. : |
309098 |
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Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPACE WOOD FURNISHERS PRIVATE LIMITED |
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Registered
Office : |
T-48, M.I.D.C., Hingna, Nagpur – 440016, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.06.1996 |
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Com. Reg. No.: |
11-100296 |
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Capital Investment
/ Paid-up Capital : |
Rs. 33.066 Millions |
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CIN No.: [Company Identification
No.] |
U36100MH1996PTC100296 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS01638A |
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PAN No.: [Permanent Account No.] |
AACCS4955R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Modular Furniture and Pre Laminated Boards. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company has achieved fair profitability from its operational
activities during the financial year 2013. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Loans: “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
July, 2014 |
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Rating Agency Name |
ICRA |
|
Rating |
Short term Non Fund Based Facilities: “A3” |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
July, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Dinesh |
|
Designation : |
Finance Department |
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Contact No.: |
91-9822369024 |
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Date : |
20.02.2014 |
LOCATIONS
|
Registered/ Head
Office/ Factory: |
T-48, M.I.D.C., Hingna, |
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Tel. No.: |
91-7104-236737/ 235968/ 324780 / 235967 / 234857 / 58 |
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Mobile No.: |
91-9822369024 (Mr. Dinesh) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
http://www.spacewood.in
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Area : |
15000 acres |
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Location : |
Leased |
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Branch Offices : |
Located At · Chennai · Pune · Delhi · Mumbai · Bangalore · Hyderabad · Indore |
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Showrooms : |
Located at · Nagpur · Hyderabad · New Delhi · Gurgaon · Chennai · Kolkata |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vivek Moreshwar Deshpande |
|
Designation : |
Director |
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Address : |
“Madhav”, 67 A, Shivaji Nagar, Nagpur – 440010, Maharashtra,
India |
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Date of Birth/Age : |
14.11.1970 |
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Qualification : |
BE (Mech.) |
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Date of Appointment : |
18.06.1996 |
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PAN No.: |
AARPD4769N |
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Voter ID No. : |
UOA1372242 |
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DIN No.: |
00023147 |
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Name : |
Mr. Kirit Sharad Joshi |
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Designation : |
Director |
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Address : |
23, Trayambakeshwar, Near Dr. Choudhary’s House, New Verma Layout,
Nagpur – 440033, Maharashtra, India |
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Date of Birth/Age : |
20.10.1970 |
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Qualification : |
BE (Mech.) |
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Date of Appointment : |
09.07.1996 |
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PAN No.: |
AAOPJ9006D |
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Voter ID No. : |
MT/23/137/0381102 |
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DIN No.: |
00204902 |
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Name : |
Mr. Nitin Sharadchandra Sudame |
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Designation : |
Whole-time director |
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Address : |
Prasad, 105, Swawalambi Nagar, |
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Date of Birth/Age : |
23.05.1965 |
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Date of Appointment : |
01.10.2010 |
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PAN No.: |
AEWPS1694E |
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Voter ID No. : |
YKB0330752 |
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DIN No.: |
03291500 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Vivek M. Deshpande |
1389938 |
|
Kirit S. Joshi |
1298138 |
|
Sharad T. Joshi |
196350 |
|
Vidya S. Joshi |
119532 |
|
Usha M. Deshpande |
27412 |
|
Ratna K. Joshi |
39205 |
|
Varsha V. Deshpande |
235875 |
|
Bennet Coleman and Company Limited, India |
100 |
|
Total |
3306550 |
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
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Line of Business : |
Manufacturing of Modular Furniture and Pre Laminated Boards. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
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 management |
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Bankers : |
· Union Bank of India, Shriman Commercial Complex, Dhantoli, Nagpur – 440012, Maharashtra, India ·
Corporation Bank, 44 S.V.P Marg Kingsway,
Nagpur – 440001, Maharashtra, India · State Bank of India, Hingna Industrial Estate Branch, Plot No. X-43, MIDC Area, Hingna Road, Nagpur - 440016, Maharashtra, India ·
Kotak Mahindra Bank Limited, 27 BKC, C 27, G Block,
Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India |
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Facilities : |
NOTE LONG TERM
BORROWING: Securities offered for Term loan from banks: 1) Term loan on machinery is secured by charge on the entire fixed asset of the company. It is collaterally secured by equitable mortgage of Plant and Machinery of the company situated at Plot No. T-47 and 48, Land and Building at Plot No. T-47 and T-48 and personal guarantee of promoter directors Mr. Kirit Joshi and Vivek Deshpande. 2) Term loan taken for purchase of vehicle is secured by hypothecation of vehicle purchased by the company. 3) From Financial institution is secured by insurance policies taken on the keyman of the company. SHORT TERM
BORROWING: From Banks: Working Capital is secured by hypothecation of inventory cum book debts/current assets of the company. It is collaterally secured by equitable mortgage of Plant and Machinery of the company and Land and Building at Plot No. T-47 and T-48 and personal guarantee of promoter directors of the company. |
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Banking
Relations : |
-- |
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Financial Institution : |
SBI Factors and Commercials Services Private Limited, Tara Chambers, 2nd Floor, Pune Mumbai Highway, Near Mariaai Mandir, Wakdewadi, Pune - 411003, Maharashtra, India |
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Auditors : |
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Name : |
C. N. Patel and Company Chartered Accountants |
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Address : |
Gani Sons Charitable Trust Building, Residency Road, Sadar, Nagpur – 440001, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AGWPP7500Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary
Companies : |
· Spacewood Hong Kong Limited · Spacewood Office Solutions Private Limited CIN No.: U36100MH2008PTC178053 |
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Associates : |
Modern Living Solutions Private Limited Platinum Business Solutions Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3306550 |
Equity Shares |
Rs.10/- each |
Rs. 33.066 Millions |
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 |
|
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|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
33.066 |
33.066 |
33.065 |
|
(b) Reserves & Surplus |
252.684 |
222.396 |
149.443 |
|
(c) Money
received against share warrants |
15.017 |
15.017 |
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) |
300.767 |
270.479 |
182.508 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
227.748 |
222.093 |
231.170 |
|
(b) Deferred tax liabilities (Net) |
10.637 |
11.701 |
12.754 |
|
(c) Other long term
liabilities |
6.853 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.364 |
2.099 |
1.472 |
|
Total Non-current
Liabilities (3) |
248.602 |
235.893 |
245.396 |
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(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
359.693 |
305.910 |
291.355 |
|
(b) Trade
payables |
176.840 |
222.053 |
151.545 |
|
(c) Other
current liabilities |
118.338 |
104.190 |
110.097 |
|
(d) Short-term
provisions |
54.242 |
38.817 |
35.319 |
|
Total Current
Liabilities (4) |
709.113 |
670.970 |
588.316 |
|
|
|
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|
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TOTAL |
1258.482 |
1177.342 |
1016.220 |
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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 |
303.904 |
321.604 |
198.221 |
|
(ii) Intangible
Assets |
1.570 |
2.374 |
2.881 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
41.042 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
41.202 |
41.425 |
69.803 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
44.440 |
43.930 |
10.468 |
|
(e) Other
Non-current assets |
0.059 |
0.119 |
0.178 |
|
Total Non-Current
Assets |
391.175 |
409.452 |
322.593 |
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
239.877 |
231.332 |
246.583 |
|
(c) Trade
receivables |
531.830 |
452.795 |
324.374 |
|
(d) Cash
and cash equivalents |
44.930 |
29.115 |
30.644 |
|
(e) Short-term
loans and advances |
50.670 |
39.648 |
88.997 |
|
(f) Other
current assets |
0.000 |
15.000 |
3.029 |
|
Total
Current Assets |
867.307 |
767.890 |
693.627 |
|
|
|
|
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TOTAL |
1258.482 |
1177.342 |
1016.220 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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SALES |
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TOTAL |
1811.231 |
1536.589 |
1385.423 |
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Less |
EXPENSES |
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TOTAL |
1756.211 |
1506.155 |
1377.556 |
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PROFIT/ (LOSS
BEFORE EXCEPTIONAL AND EXTRAORDINARY ITEMS AND TAX |
55.020 |
30.434 |
7.867 |
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Add |
EXCHANGE FLUCTUATION GAIN/(LOSS) ON ADVANCES |
-- |
-- |
3.532 |
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|
PROFIT/
(LOSS BEFORE
EXTRAORDINARY ITEMS |
55.020 |
30.434 |
11.399 |
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Add |
EXTRAORDINARY ITEMS |
-- |
-- |
0.793 |
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|
PROFIT/
(LOSS) BEFORE TAX |
55.020 |
30.434 |
12.192 |
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Less |
TAX |
20.864 |
9.992 |
1.023 |
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PROFIT/
(LOSS) AFTER TAX |
34.156 |
20.442 |
11.169 |
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EARNINGS IN
FOREIGN CURRENCY |
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FOB Value of Exports |
36.229 |
4.654 |
12.173 |
|
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TOTAL EARNINGS |
36.229 |
4.654 |
12.173 |
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IMPORTS |
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|
|
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|
|
Capital Goods |
2.715 |
0.000 |
5.898 |
|
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|
Raw Materials |
415.548 |
341.788 |
430.082 |
|
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TOTAL IMPORTS |
418.263 |
341.788 |
435.980 |
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Earnings / (Loss)
Per Share (Rs.) |
|
5.86 |
2.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.52 |
2.68 |
1.35 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.11 |
0.07 |
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|
|
|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
1.95 |
1.95 |
2.86 |
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.14 |
1.18 |
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 |
33.065 |
33.066 |
33.066 |
|
Reserves & Surplus |
149.443 |
222.396 |
252.684 |
|
Money received against share
warrants |
0.000 |
15.017 |
15.017 |
|
Net
worth |
182.508 |
270.479 |
300.767 |
|
|
|
|
|
|
long-term borrowings |
231.170 |
222.093 |
227.748 |
|
Short term borrowings |
291.355 |
305.910 |
359.693 |
|
Total
borrowings |
522.525 |
528.003 |
587.441 |
|
Debt/Equity
ratio |
2.863 |
1.952 |
1.953 |
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 |
1385.423 |
1536.589 |
1811.231 |
|
|
|
10.911 |
17.873 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1385.423 |
1536.589 |
1811.231 |
|
Profit |
11.169 |
20.442 |
34.156 |
|
|
0.81% |
1.33% |
1.89% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
NA |
22.953 |
47.999 |
|
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
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 |
10516512 |
11/09/2014 * |
249,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
C22099949 |
|
2 |
10193819 |
13/11/2009 |
10,000,000.00 |
UNION BANK OF INDIA |
DHANTOLI, NAGPUR, MAHARASHTRA - 440012, INDIA |
A76190495 |
|
3 |
10123805 |
11/09/2014 * |
328,600,000.00 |
UNION BANK OF INDIA |
SHRIMAN COMMERCIAL COMPLEX, DHANTOLI, NAGPUR, MAHARASHTRA - 440012, INDIA |
C22444814 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
|
|
CHANGE OF ADDRESS
The registered office of the company has been shifted from N-6, MIDC, Hingna, Nagpur – 440016, Maharashtra, India to the present address w.e.f. 19.11.2009.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
|
|
|
|
1. Demand raised by authorities against which Company has filed appeal: |
|
|
|
Maharashtra Sales Tax |
9.615 |
9.615 |
|
Central Sales Tax |
5.027 |
5.027 |
|
Excise liability |
0.216 |
0.216 |
|
Income Tax |
1.555 |
0.000 |
|
2. Letter of Credit issued by bank on behalf of the Company to various parties |
106.985 |
93.418 |
|
3. Unexpired Bank Guarantee |
28.825 |
33.505 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Goodwill
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.26 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
45 |
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.