MIRA INFORM REPORT
|
Report No. : |
309368 |
|
Report Date : |
23.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
V S M WEAVES INDIA PRIVATE LIMITED (w.e.f. 21.01.2015) |
|
|
|
|
Formerly Known
As : |
V S M WEAVES INDIA LIMITED V.S.P. WEAVES LIMITED |
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Registered
Office : |
SF No.334, Sankari Main Road, Kattur, Elanthakuttai Village,
Tiruchengode Taluk, Namakkal District- - 638 008, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
13.12.2002 |
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Com. Reg. No.: |
18-010398 |
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Capital
Investment / Paid-up Capital : |
Rs.51.350 Millions |
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CIN No.: [Company Identification
No.] |
U17111TZ2002PTC010398 |
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|
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TAN No.: [Tax Deduction & Collection
Account No.] |
CHEV05765E |
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PAN No.: [Permanent Account No.] |
AABCV7326C |
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Legal Form : |
Public Limited Liability Company |
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Line of Business
: |
Manufacturer of viscose filament yarn and other types of blended yarn. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk |
|
Date |
11.07.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A2 |
|
Rating Explanation |
Have strong degree of safety and carry low credit risk |
|
Date |
11.07.2014 |
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. Arul Swami |
|
Designation : |
Account Department |
|
Contact No.: |
91-4288-245801 |
|
Date : |
23.02.2015 |
LOCATIONS
|
Registered Office / Factory : |
SF No.334, Sankari Main Road, Kattur, elanthakuttai village,
Tiruchengode Taluk, Namakkal District- - 638 008, Tamilnadu, India |
|
Tel. No.: |
91 4288 245500 / 04 |
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Fax No.: |
91 4288 245505 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sengodagounder Muthusamy |
|
Designation : |
Director |
|
Address : |
67, Sankari, Bye- Pass Road, Pallipalayam, Erode- 638 006, Tamil Nadu, India |
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Date of Birth/Age : |
07.05.1939 |
|
Qualification : |
HR. Secoundary |
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PAN No. : |
ADEPM5550G |
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Date of Appointment : |
13.12.2002 |
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DIN No.: |
01369099 |
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Name : |
Mr. Vellayagounder Sengodagounder Palanisam |
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Designation : |
Director |
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Address : |
65, Sankari, Bye- Pass Road, Pallipalayam, Erode- 638 006, Tamil Nadu, India |
|
Date of Birth/Age : |
06.10.1948 |
|
Qualification : |
HR. Secoundary |
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PAN No. : |
ADIPP1481B |
|
Date of Appointment : |
02.04.2007 |
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DIN No.: |
01369156 |
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|
|
|
Name : |
Mr. Muthusamy Rajammal |
|
Designation : |
Director |
|
Address : |
67, Sankari, Bye- Pass Road, Pallipalayam, Erode- 638 006, Tamil Nadu, India |
|
Date of Birth/Age : |
20.04.1951 |
|
Qualification : |
Secoundary |
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Date of Appointment : |
13.12.2002 |
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DIN No.: |
01369201 |
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|
|
Name : |
Mr. Muthusamy Ravichandran |
|
Designation : |
Director |
|
Address : |
67, Sankari, Bye- Pass Road, Pallipalayam, Erode- 638 006, Tamil Nadu, India |
|
Date of Birth/Age : |
01.06.1966 |
|
Qualification : |
Graduation |
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PAN No. : |
ADXPR7514C |
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Date of Appointment : |
01.04.2012 |
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DIN No.: |
01369264 |
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|
|
|
Name : |
Mr. Palanisamy Duraisamy |
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Designation : |
Director |
|
Address : |
65, Sankari, Bye- Pass Road, Pallipalayam, Erode- 638 006, Tamil Nadu, India |
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Date of Birth/Age : |
20.09.1974 |
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Qualification : |
Graduation |
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PAN No. : |
ACKPD5056H |
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Date of Appointment : |
01.04.2012 |
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DIN No.: |
01369280 |
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|
|
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Name : |
Mr. Palanisamy Palaniammal |
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Designation : |
Director |
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Address : |
65, Sankari, Bye- Pass Road, Pallipalayam, Erode- 638 006, Tamil Nadu, India |
|
Date of Birth/Age : |
21.10.1953 |
|
Qualification : |
Secoundary |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
02379355 |
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|
|
|
Name : |
Mr. Ravichandran Muralidharan |
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Designation : |
Director |
|
Address : |
65, Sankari, Bye- Pass Road, Pallipalayam, Erode- 638 006, Tamil Nadu, India |
|
Date of Birth/Age : |
03.08.1989 |
|
Date of Appointment : |
29.09.2012 |
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DIN No.: |
03524694 |
KEY EXECUTIVE
|
Name : |
Mr. Arul Swami |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
V. S. Palanisamy |
47860 |
|
S. Muthusamy |
55225 |
|
M. Ravichandran |
134910 |
|
M. Rajammal |
510 |
|
P. Duraisamy |
131010 |
|
P. Palaniammal |
10875 |
|
R. Sathyadevi |
10 |
|
R.M.D. Weaving Mills Private Limited, India |
90500 |
|
R. Muralidharan |
100 |
|
Duraisamy Benificiary Trust, India |
15239 |
|
Muralidharan Benificiary Trust, India |
27260 |
|
Total |
513499 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
18.00 |
|
Directors or relatives of Directors |
74.00 |
|
Other top fifty shareholders |
8.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of viscose filament yarn and other types of blended yarn. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
T. N. Ramadoss and Company Chartered Accountants |
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Address : |
No:54,Town Railway Station Road, Salem - 636 001, Tamilnadu, India |
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PAN.: |
AAAFT9046R |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000 |
Equity shares |
Rs.100/- each |
Rs.55.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
513499 |
Equity Shares |
Rs.100/-
each |
Rs.51.350
Millions |
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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 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
51.350 |
51.350 |
47.350 |
|
(b) Reserves &
Surplus |
645.532 |
479.452 |
374.968 |
|
(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) |
696.882 |
530.802 |
422.318 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
407.486 |
351.899 |
252.621 |
|
(b) Deferred tax
liabilities (Net) |
79.832 |
87.460 |
87.262 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
487.318 |
439.359 |
339.883 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
169.617 |
29.647 |
182.999 |
|
(b) Trade payables |
35.310 |
19.174 |
65.045 |
|
(c) Other current
liabilities |
146.713 |
297.253 |
233.821 |
|
(d) Short-term provisions |
16.168 |
4.254 |
6.315 |
|
Total Current Liabilities
(4) |
367.808 |
350.328 |
488.180 |
|
|
|
|
|
|
TOTAL |
1552.008 |
1320.489 |
1250.381 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
752.093 |
732.395 |
608.802 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.195 |
3.891 |
19.869 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
8.576 |
2.576 |
2.576 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
12.409 |
8.223 |
8.338 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
18.226 |
|
Total Non-Current Assets |
773.273 |
747.085 |
657.811 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
123.167 |
94.765 |
73.527 |
|
(c) Trade receivables |
423.016 |
242.424 |
175.429 |
|
(d) Cash and cash
equivalents |
108.098 |
117.084 |
212.151 |
|
(e) Short-term loans and
advances |
112.218 |
100.035 |
124.240 |
|
(f) Other current assets |
12.236 |
19.096 |
7.223 |
|
Total Current Assets |
778.735 |
573.404 |
592.570 |
|
|
|
|
|
|
TOTAL |
1552.008 |
1320.489 |
1250.381 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3760.229 |
2550.882 |
1656.257 |
|
|
Other Income |
4.564 |
15.533 |
18.215 |
|
|
TOTAL (A) |
3764.793 |
2566.415 |
1674.472 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
497.603 |
490.036 |
569.501 |
|
|
Purchases of
Stock-in-Trade |
2550.455 |
1458.709 |
653.216 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(40.058) |
(4.422) |
41.548 |
|
|
Employees benefits
expense |
68.192 |
52.043 |
29.328 |
|
|
Exceptional Items |
(0.418) |
2.983 |
0.000 |
|
|
Extraordinary Items |
0.000 |
59.965 |
0.000 |
|
|
Other expenses |
253.903 |
202.851 |
165.949 |
|
|
TOTAL (B) |
3329.677 |
2262.165 |
1459.542 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
435.116 |
304.250 |
214.930 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
82.979 |
61.573 |
45.201 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
352.137 |
242.677 |
169.729 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
127.942 |
124.653 |
76.113 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
224.195 |
118.024 |
93.616 |
|
|
|
|
|
|
|
Less |
TAX (H) |
58.115 |
45.541 |
32.734 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
166.080 |
72.483 |
60.882 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.957 |
13.901 |
83.279 |
|
|
TOTAL EARNINGS |
0.957 |
13.901 |
83.279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
323.43 |
152.01 |
128.58 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
4.42 |
2.84 |
3.68 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
11.57 |
11.93 |
12.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.53 |
8.98 |
7.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.22 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.83 |
0.72 |
1.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12 |
1.64 |
1.21 |
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 |
47.350 |
51.350 |
51.350 |
|
Reserves & Surplus |
374.968 |
479.452 |
645.532 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
422.318 |
530.802 |
696.882 |
|
|
|
|
|
|
long-term borrowings |
252.621 |
351.899 |
407.486 |
|
Short term borrowings |
182.999 |
29.647 |
169.617 |
|
Total borrowings |
435.620 |
381.546 |
577.103 |
|
Debt/Equity ratio |
1.031 |
0.719 |
0.828 |
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 |
1656.257 |
2550.882 |
3760.229 |
|
|
|
54.015 |
47.409 |
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 |
1656.257 |
2550.882 |
3760.229 |
|
Profit |
60.882 |
72.483 |
166.080 |
|
|
3.68% |
2.84% |
4.42% |
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 |
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE
During the
year the performance was very good. During the year under the review, sales and
conversion charges receipts have increased by Rs.931.595 Millions and
Rs.288.293 Millions respectively. Resultantly, Profit before interest and
depreciation has increased by Rs.135.480 Millions.
During the
year the company earned cash profit of Rs.294.021 Millions as against
Rs.197.136 Millions in the previous year. During the year, the company’s
turnover has increased by 48.04%.
FUTURE PROSPECTS:
Effective
steps are being taken to sustain the market demand. The Gross revenue is likely
to increase substantially in the forthcoming year.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term Borrowings |
|
|
|
Intercorporate borrowings |
110.250 |
99.250 |
|
Loans and advances from directors |
21.664 |
26.281 |
|
Total |
131.914 |
125.531 |
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Plant
and equipment
·
Furniture
and fixtures
·
Vehicles
·
Office
equipment
·
Computer
equipments
·
Other
equipments
Intangible assets
· Goodwill
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.62.62 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.