MIRA INFORM REPORT
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Report No. : |
304504 |
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Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIWA DRYMIX PRIVATE LIMITED |
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Registered
Office : |
Office No. 323, 4th Floor, Central Facility, APMC Fruit and Veg.
Market, Vashi, Sector-19, Navi Mumbai – 400703, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.11.2010 |
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Com. Reg. No.: |
11-210117 |
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Capital Investment
/ Paid-up Capital : |
Rs.5.000 millions |
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CIN No.: [Company Identification
No.] |
U26900MH2010PTC210117 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV18728D |
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PAN No.: [Permanent Account No.] |
AADCV4672M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Cement base plaster products. |
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No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 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 |
CRISIL |
|
Rating |
Long term rating: BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
22.05.2014 |
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 PARTED BY
|
Name : |
Mr. Atul Chandra Gautam |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-41418282 |
|
Date : |
21.01.2015 |
LOCATIONS
|
Registered Office : |
Office No. 323, 4th Floor, Central Facility, APMC Fruit and Veg.
Market, Vashi, Sector-19, Navi Mumbai – 400703, Maharashtra, India |
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Tel. No.: |
91-22-41418282 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
Plot No 28, Gate No 3 G, Vadodara -391760, Gujarat, India |
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Corporate Office : |
Rainbow building, Plot No. 13, Sector – 24, Near Sanpada Railway
Station, Navi Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-41418200 |
DIRECTORS
As on 30.09.2014
|
Name : |
Ms. Charulata Sanjay Mahagaonkar |
|
Designation : |
Director |
|
Address : |
16, Saptashrungi
Co-operative housing society, PNC Road, Mhatre Compound , Dombivali (East)
,Mumbai- 421201, Maharashtra, India |
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Date of Birth/Age : |
04.03.1964 |
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Date of Appointment : |
16.11.2010 |
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DIN No.: |
00676022 |
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Name : |
Ms. Rachana Mitesh Parekh |
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Designation : |
Director |
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Address : |
2nd Floor, 52, Mehta Building, 263A, Lakhamsi N Road, Next
to Matunga, Gymkhana, Matunga Central, Mumbai – 400019, Maharashtra, India |
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Date of Birth/Age : |
21.02.1976 |
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Date of Appointment : |
06.04.2012 |
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DIN No.: |
05249510 |
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PAN No.: |
AABPM5396E |
KEY EXECUTIVES
|
Name : |
Mr. Atul Chandra Gautam |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Charulata Sanjay Mahagaonkar |
5000 |
1.00 |
|
Rachana Mitesh Parekh |
490000 |
98.00 |
|
Ranjal Shrikanth Shenoy |
5000 |
1.00 |
|
Total |
500000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.00 |
|
Other |
1.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Cement base plaster 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 : |
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Products : |
Raw Material |
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Countries : |
Netherland |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
The Shamrao Vithal Co-operative Bank Limited, Banking
Complex-II, Commercial Co-o operative Premises Society Limited, Plot no.9
& 10, Sector 19A,, Navi mumbai - 400703, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dilip Kapadia and Company Chartered Accountants |
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Address : |
Room No. 2, Baburao Chawl, Bachani Nagar Cross Road, Daftary Road, Mulund
(East), Mumbai- 400097, Maharashtra, India |
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Tel. No.: |
91-22-28815590/ 28800195 |
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Mobile No.: |
91-9820432763 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ADUPK4157H |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprise over
which Key Management Personnel are able to exercise significant influence: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 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 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
124.700 |
55.328 |
22.751 |
|
(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 |
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Total
Shareholders’ Funds (1) + (2) |
129.700 |
60.328 |
27.751 |
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(3) Non-Current Liabilities |
|
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|
|
(a) long-term borrowings |
24.939 |
28.244 |
3.100 |
|
(b) Deferred tax liabilities
(Net) |
0.786 |
0.241 |
0.008 |
|
(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) |
25.725 |
28.485 |
3.108 |
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(4) Current Liabilities |
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(a) Short term borrowings |
64.746 |
19.138 |
16.541 |
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(b) Trade payables |
105.564 |
89.359 |
45.835 |
|
(c) Other current liabilities |
7.630 |
5.656 |
4.446 |
|
(d) Short-term provisions |
59.529 |
26.644 |
11.119 |
|
Total
Current Liabilities (4) |
237.469 |
140.797 |
77.941 |
|
|
|
|
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TOTAL |
392.894 |
229.610 |
108.800 |
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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 |
68.208 |
38.249 |
6.723 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.003 |
0.003 |
0.003 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
68.211 |
38.252 |
6.726 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
102.269 |
38.796 |
13.410 |
|
(c) Trade receivables |
148.523 |
99.194 |
64.228 |
|
(d) Cash and cash equivalents |
0.908 |
1.241 |
0.337 |
|
(e) Short-term loans and
advances |
72.983 |
52.127 |
24.099 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
324.683 |
191.358 |
102.074 |
|
|
|
|
|
|
TOTAL |
392.894 |
229.610 |
108.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
612.233 |
|
|
Other Income |
|
|
|
|
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TOTAL
|
936.239 |
654.957 |
612.233 |
|
|
|
|
|
|
|
Less |
EXPENSES |
833.437 |
606.621 |
578.038 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
102.802 |
48.336 |
34.195 |
|
|
|
|
|
|
|
Less |
TAX |
33.430 |
15.759 |
11.127 |
|
|
|
|
|
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|
PROFIT/
(LOSS) AFTER TAX |
69.372 |
32.577 |
23.068 |
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
55.328 |
22.751 |
(0.317) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
124.700 |
55.328 |
22.751 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
138.74 |
NA |
NA |
Expected Sales (2014-2015) : Rs.1000.000 Millions
The above information has been parted by Mr. Atul Chandra Gautam
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.17 |
21.05 |
31.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.79 |
0.80 |
1.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.69 |
0.79 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.36 |
1.31 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
22.751 |
55.328 |
124.700 |
|
Net
worth |
27.751 |
60.328 |
129.700 |
|
|
|
|
|
|
long-term borrowings |
3.100 |
28.244 |
24.939 |
|
Short term borrowings |
16.541 |
19.138 |
64.746 |
|
Total
borrowings |
19.641 |
47.382 |
89.685 |
|
Debt/Equity
ratio |
0.708 |
0.785 |
0.691 |
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 |
612.233 |
654.957 |
936.239 |
|
|
|
6.978 |
42.947 |
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 |
612.233 |
654.957 |
936.239 |
|
Profit |
23.068 |
32.577 |
69.372 |
|
|
3.77% |
4.97% |
7.41% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
NOTE: Registered office of the company has been
shifted from F2/ D5, Sector 3, Nerul, Navi Mumbai, Navi Mumbai- 400706,
Maharashtra, India to the present address
w.e.f. 06.03.2013
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
0.750 |
1.500 |
|
Other loans and advances |
2.700 |
8.450 |
|
Total |
3.450 |
9.950 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10539600 |
08/12/2014 |
60,000,000.00 |
YES BANK LIMITED |
9 THE FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DRNNIE BESANT RAOD, WORLI, MUMBAI, MAHARASHTRA - |
C38621652 |
|
2 |
10488737 |
28/03/2014 |
6,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
THE SHAMRAO VITHAL
CO-OPERATIVE BANK LIMITED, COO |
C02340388 |
|
3 |
10488736 |
26/03/2014 |
16,583,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK |
THE SHAMRAO VITHAL
CO-OPERATIVE BANK, COOP PREMIS |
C02339869 |
|
4 |
10452855 |
28/09/2013 |
30,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B86572716 |
|
5 |
10406039 |
21/01/2013 |
7,500,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
UNIT NO.3, GROUND
FLOOR,BANKING COMPLEX II,, COMM |
B68410265 |
|
6 |
10392936 |
16/11/2012 |
8,100,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU ROAD,, VAKOLA, SANTACRUZ (EAST), MUMBAI, MAHARASHTRA - 400055, INDIA |
B64494719 |
|
7 |
10323121 |
28/03/2014 * |
72,397,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED, LTD, PLOT NO. 9&10, SECTOR 19A, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
C02345833 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
- Leasehold improvements
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.61.69 |
|
|
1 |
Rs.93.33 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PAT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
|
46 |
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.