MIRA INFORM REPORT
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Report No. : |
300236 |
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Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
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Name : |
STAR CIRCLIPS AND ENGINEERING LIMITED |
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Formerly Known
As : |
STAR FIRO CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
B-24, MIDC Area, Hingna Industrial Estate, Hingna, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
21.03.1974 |
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Com. Reg. No.: |
11-017301 |
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Capital
Investment / Paid-up Capital : |
Rs.38.303 Millions |
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CIN No.: [Company Identification
No.] |
U24110MH1974PLC017301 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS01683D |
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PAN No.: [Permanent Account No.] |
AACCS8003L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Circlips, Retaining Rings, Washers Shims
and Formed Components. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. As per ROC the date of balance sheet (i.e. financial filed is shown as
31.03.2014 but the document related to the financial year 2014 are not
available from any source. As per the available financial of 2013, there seems some dip in the
turnover and profitability of the company.
However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 |
CRISIL |
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Rating |
Long Term Rating = BB |
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Rating Explanation |
Moderate risk of default. |
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Date |
January 2015 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating = A4+ |
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Rating Explanation |
Minimal degree of safety. It carry very high
credit risk. |
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Date |
January 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 DENIED BY
|
Name : |
Mr. Aditya Kothari |
|
Designation : |
Finance Head |
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Contact No.: |
91-9373287563 |
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Date : |
09.01.2015 |
LOCATIONS
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Registered Office/ Factory 1 : |
B-24, MIDC Area, Hingna Industrial Estate, Hingna, |
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Tel. No.: |
91-7104-234742 / 235028 / 236056 / 236428 |
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Fax No.: |
91-7104-237628 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. Ft. |
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Location : |
Owned |
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Corporate Office : |
211 - Shrimohini, 345 Kingsway , Nagpur - 440001, |
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Tel. No.: |
91-712-2524645 / 2533585 / 2548439 |
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Fax No.: |
91-712-2530461 |
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E-Mail : |
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Factory 2 : |
K-44, 5-Star Zone, MIDC, Butibori, |
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Tel. No.: |
91-7104-265275 / 265285 / 265375 |
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Fax No.: |
91-7104-265275 |
DIRECTORS
As on 30.09.2014
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Name : |
Mr. Arun Raghuvir Raj Bhandari |
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Designation : |
Managing Director |
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Address : |
83, Shivaji Nagar, |
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Date of Birth/Age : |
18.09.1955 |
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Date of Appointment : |
03.04.1984 |
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DIN No.: |
00008901 |
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Name : |
Mr. Mayank Arun Bhandari |
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Designation : |
Whole-time Director |
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Address : |
83, Shivaji Nagar, |
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Date of Birth/Age : |
23.08.1984 |
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Date of Appointment : |
01.12.2010 |
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DIN No.: |
01176865 |
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Name : |
Mr. Suresh Kumar Jakhotiya |
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Designation : |
Director |
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Address : |
503/B, Neelgagan Society, Humpyard, Dhantoli Nagpur – 440012, |
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Date of Birth/Age : |
05.04.1947 |
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Date of Appointment : |
01.06.2002 |
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DIN No.: |
00024950 |
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Name : |
Mr. Praneet Mohan Singh Bhandari |
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Designation : |
Director |
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Address : |
A-402, Utkarsh Alankar, R |
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Date of Birth/Age : |
04.01.1960 |
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Date of Appointment : |
01.01.2006 |
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DIN No.: |
00124832 |
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Name : |
Mrs. Sakshi Mayank Bhandari |
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Designation : |
Whole-time Director |
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Address : |
83, Shivaji Nagar, Nagpur – 440010, Maharashtra, India |
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Date of Birth/Age : |
20.02.1986 |
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Date of Appointment : |
01.05.2013 |
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DIN No.: |
06360100 |
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Name : |
Mr. Kamal Singh Raichand Kothari |
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Designation : |
Director |
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Address : |
503, Kamalshree Apartments Near Ahilya Devi Mandir, Dhantoli, |
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Date of Birth/Age : |
07.06.1949 |
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Date of Appointment : |
01.01.2006 |
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DIN No.: |
00761949 |
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Name : |
Mrs. Rohini Arun Bhandari |
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Designation : |
Whole-time Director |
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Address : |
83, Shivaji Nagar, Nagpur – 440010, Maharashtra, India |
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Date of Birth/Age : |
10.06.1989 |
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Date of Appointment : |
01.04.2013 |
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DIN No. : |
06458838 |
KEY EXECUTIVES
|
Name : |
Mr. Aditya Kothari |
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Designation : |
Finance Head |
MAJOR SHAREHOLDERS
As on 29.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
38.01 |
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Directors or relatives of Directors |
46.36 |
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Other top fifty shareholders |
15.63 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Circlips, Retaining Rings, Washers Shims
and Formed Components. |
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Products : |
· Circlips · Formed components · Compression springs · Heavy duty compression springs ·
Extension springs ·
Torsion springs stainless steel |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information denied by management |
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Bankers : |
· State Bank of India, Hingna Industrial Estate Branch, Nagpur, Maharashtra, India · Bank of Baroda, West High Court Road, Dharampeth, Nagpur - 440010, Maharashtra, India · Axis Bank Limited, M. G. House, Rabindranath Tagore Road, Civil Lines, Nagpur - 440001, Maharashtra, India |
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Facilities : |
Note: Long
Term Borrowings Term loan from Axis Bank, Civil Lines, Nagpur is a foreign currency term loan and the outstanding on 31st March, 2013 is EURO 779956.50. It is secured by exclusive first equitable mortgage of factory land and buildings (existing and proposed) situated at plot K-44, K-44/1, Butibori, Nagpur and at plot B-23, B-24, Hingna Industrial Area, Hingna, Nagpur. Also secured by exclusive first hypothecation of plant and machinery, equipments of the company, present and future and exclusive pledge of book debrs and movable plant and machinery present and future. Also secured by personal guarantee of Arun Bhandari, Mayank Bhandari, Lalit Bhandari an corporate guarantee of Mayank Fasteners Private Limited. Short
Term Borrowings Cash credit loan which includes EPC/PCFC/FBP/FBD/PSCFC/EBRD/
and FCDL/ WCDL availed from Axis Bnak Limited, Civil Lines, Nagpur Branch is
secured by hypothecation to and in favour of the bank of the entire current
assets of the unit, including raw materials consumables, spares/store stock
in process, finished goods, book debts and bills receivables, bills in course
of collection etc. also secured by personal guarantee of Arun Bhandari,
Mayank Bhandari, Lalit Bhandari an corporate guarantee of Mayank Fasteners
Private Limited. |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
G K Agarwal and Company Chartered Accountants |
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Address : |
63-64, General Merchant Market, Gandhibagh, |
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PAN No.: |
AAVPA8939M |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
· Mayank Fasteners Private Limited · S.S. Industries · H.M Engineering- Unit II · N.P.M. Industries |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
3830250 |
Equity Shares |
Rs.10/- each |
Rs.38.303 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
38.303 |
38.303 |
36.553 |
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(b) Reserves & Surplus |
89.759 |
76.823 |
51.549 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
6.200 |
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Total
Shareholders’ Funds (1) + (2) |
128.062 |
115.126 |
94.302 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
39.450 |
56.030 |
27.069 |
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(b) Deferred tax liabilities (Net) |
5.192 |
5.367 |
10.230 |
|
(c) Other long term
liabilities |
10.497 |
10.669 |
11.402 |
|
(d) long-term
provisions |
16.072 |
14.612 |
6.000 |
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Total Non-current
Liabilities (3) |
71.211 |
86.678 |
54.701 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
135.501 |
134.577 |
139.438 |
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(b) Trade
payables |
62.995 |
78.713 |
68.079 |
|
(c) Other
current liabilities |
35.588 |
29.778 |
26.559 |
|
(d) Short-term
provisions |
7.411 |
9.190 |
5.600 |
|
Total Current
Liabilities (4) |
241.495 |
252.258 |
239.676 |
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TOTAL |
440.768 |
454.062 |
388.679 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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|
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(i)
Tangible assets |
153.738 |
154.312 |
127.252 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
3.085 |
2.707 |
2.961 |
|
(iv)
Intangible assets under development |
0.000 |
4.777 |
0.000 |
|
(b) Non-current Investments |
2.128 |
2.128 |
2.278 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10.300 |
8.873 |
9.413 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
169.251 |
172.797 |
141.904 |
|
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(2)
Current assets |
|
|
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
104.722 |
139.821 |
116.595 |
|
(c) Trade
receivables |
136.922 |
118.381 |
97.111 |
|
(d) Cash
and cash equivalents |
14.935 |
3.731 |
14.210 |
|
(e)
Short-term loans and advances |
2.516 |
2.753 |
3.667 |
|
(f) Other
current assets |
12.422 |
16.579 |
15.192 |
|
Total Current
Assets |
271.517 |
281.265 |
246.775 |
|
|
|
|
|
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TOTAL |
440.768 |
454.062 |
388.679 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Income |
555.270 |
607.367 |
510.373 |
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Other Income |
2.185 |
4.593 |
2.179 |
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TOTAL (A) |
557.455 |
611.960 |
512.552 |
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Less |
EXPENSES |
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Cost of Material Consumed |
328.330 |
410.350 |
344.620 |
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Changes in inventories of finished goods, work in progress |
6.583 |
(22.214) |
(3.451) |
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Employee Benefit Expense |
101.506 |
98.231 |
71.621 |
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Other Expenses |
49.011 |
51.822 |
46.685 |
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TOTAL (B) |
485.430 |
538.189 |
459.475 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
72.025 |
73.771 |
53.077 |
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Less |
FINANCIAL
EXPENSES (D) |
28.147 |
29.185 |
19.612 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
43.878 |
44.586 |
33.465 |
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Less |
DEPRECIATION/
AMORTISATION (F) |
24.538 |
20.818 |
16.885 |
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PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
19.340 |
23.768 |
16.580 |
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Less |
TAX (H) |
6.404 |
8.607 |
6.294 |
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PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
12.936 |
15.161 |
10.286 |
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Add |
TRANSFER FROM
CAPITAL RESERVE |
0.000 |
0.000 |
0.056 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.701 |
2.040 |
4.198 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
12.500 |
12.500 |
12.500 |
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BALANCE CARRIED
TO THE B/S |
5.137 |
4.701 |
2.040 |
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EARNINGS IN
FOREIGN CURRENCY |
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Fob Value of Sales - Hingna Unit |
54.003 |
55.364 |
45.606 |
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Fob Value of Sales - Butibori Unit |
111.522 |
134.758 |
119.053 |
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|
TOTAL EARNINGS |
165.525 |
190.122 |
164.659 |
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Earnings /
(Loss) Per Share (Rs.) |
3.38 |
3.96 |
2.81 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.33 |
2.50 |
2.02 |
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Operating Profit Margin (PBIDT/Sales) |
(%) |
12.97 |
12.15 |
10.40 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.44 |
5.35 |
4.32 |
|
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|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.21 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.37 |
1.66 |
1.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.11 |
1.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs. In
Millions |
|
Share Capital |
36.553 |
38.303 |
38.303 |
|
Reserves & Surplus |
51.549 |
76.823 |
89.759 |
|
Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
6.200 |
0.000 |
0.000 |
|
Net
worth |
94.302 |
115.126 |
128.062 |
|
|
|
|
|
|
Long Term borrowings |
27.069 |
56.030 |
39.450 |
|
Short Term borrowings |
139.438 |
134.577 |
135.501 |
|
Total
borrowings |
166.507 |
190.607 |
174.951 |
|
Debt/Equity
ratio |
1.766 |
1.656 |
1.366 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
510.373 |
607.367 |
555.270 |
|
|
|
19.005 |
(8.578) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
510.373 |
607.367 |
555.270 |
|
Profit |
10.286 |
15.161 |
12.936 |
|
|
2.02% |
2.50% |
2.33% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Term Loan |
17.217 |
15.160 |
10.659 |
|
Loan for Hyundai Verna Car from HDFC Bank Limited |
0.141 |
0.126 |
0.112 |
|
Loan for Tata Winger Vehicle from HDFC Bank Limited |
0.066 |
0.146 |
0.129 |
|
Loan for Maruti Swift from HDFC Bank Limited |
0.090 |
0.090 |
0.081 |
|
Loan for Tata 407 from HDFC Bank Limited |
0.180 |
0.163 |
0.148 |
|
Loan for Audi Q-5 from ICICI Bank Limited |
0.790 |
0.790 |
0.717 |
|
S. Tax Deferment Refundable (1988 PSI) |
0.000 |
0.363 |
0.592 |
|
S. Tax Deferment Refundable (1993 PSI) |
0.542 |
0.542 |
0.172 |
|
Total |
19.026
|
17.380 |
12.610 |
|
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 |
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 |
No |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
SHORT TERM
BORROWINGS |
|
|
|
Shivkisan Agrawal (HUF) |
0.000 |
4.000 |
|
Natraj Advisory Services Private Limited |
0.000 |
10.000 |
|
Total |
0.000 |
14.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10531114 |
28/10/2014 |
219,500,000.00 |
ICICI Bank Limited |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
C33505405 |
|
2 |
10392550 |
26/06/2014 * |
239,600,000.00 |
Axis Bank Limited |
M.G House,, Rabindranath Road, Civil Lines., Nagpur, Maharashtra - 440001, India |
C11575214 |
*Date of modification Charges
FIXED ASSETS:
· Land
· Factory Building
· Furniture and Fixtures
· Plant and Machinery
· Electric Installation
· Vehicle
· Lab. Equipment
· Computers
· Office Equipment
· Live Stock
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.62.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.