MIRA INFORM REPORT
|
Report No. : |
305548 |
|
Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TUFROPES PRIVATE LIMITED |
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Formerly Known
As : |
REEVE COMMERCIALS
PRIVATE LIMITED |
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Registered
Office : |
812-A, Embassy
Centre, Nariman Point, Mumbai – 400 021, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.11.1992 |
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Com. Reg. No.: |
11-069639 |
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Capital
Investment / Paid-up Capital : |
Rs.33.450 millions |
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CIN No.: [Company Identification
No.] |
U51900MH1992PTC069639 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT09450A |
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PAN No.: [Permanent Account No.] |
AAACT8968M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacturing of high quality synthetic ropes such as polypropylene-film ropes, HDPE twisted twine, polyester ropes, etc. |
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No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy operational risk profile marked by
sound liquidity position and fair profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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 |
CARE |
|
Rating |
Long term bank facilities: “A+” |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
07.10.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A1” |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
07.10.2014 |
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. Sanjay Agarwal |
|
Designation : |
Finance Head |
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Contact No.: |
91-22-40502700 |
|
Date : |
29.01.2015 |
LOCATIONS
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Registered Office : |
812-A, Embassy Centre,
Nariman Point, Mumbai – 400 021, Maharashtra, India |
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Tel. No.: |
91-22-40502600/ 40502700 |
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Fax No.: |
91-22-22844167 |
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E-Mail : |
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Website : |
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Corporate Office : |
507, Embassy Centre, Nariman Point, Mumbai – 400 021, Maharashtra,
India |
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Tel. No.: |
91-22-40502600 |
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Fax No.: |
91-22-22844167 |
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E-Mail : |
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Factory 1 : |
Plot No.6, Rakholi Industrial Estate, P.O. Rakholi – 396 230, Silvassa
(Dadra and Nagar Haveli), Union Territory, India |
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Factory 2 : |
Located at: ·
Amli, Silvassa ·
Vadodara (They have 3 factories in Silvassa and 1 in Vadodara) |
DIRECTORS
AS ON 30.08.2014
|
Name : |
Mr. Arun Sriniwas Goel |
|
Designation : |
Director |
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Address : |
B-5, Sterling Apartments, 38, Pedder Road, Mumbai – 400 026,
Maharashtra, India |
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Date of Birth/Age : |
31.12.1957 |
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Date of Appointment : |
01.02.1993 |
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PAN No.: |
ADUPG9480B |
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DIN No.: |
00010006 |
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Name : |
Ms. Kusum Arun Goel |
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Designation : |
Director |
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Address : |
B-5, Sterling Apartments, 38, Pedder Road, Mumbai – 400 026,
Maharashtra, India |
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Date of Birth/Age : |
17.01.1963 |
|
Date of Appointment : |
01.02.1993 |
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PAN No.: |
ADUPG9479L |
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DIN No.: |
00010060 |
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Name : |
Mr. Virendra Jaikumar Jain |
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Designation : |
Director |
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Address : |
B 19, Sterling Apartments, 38, Pedder Road, Mumbai – 400 026,
Maharashtra, India |
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Date of Birth/Age : |
19.11.1958 |
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Date of Appointment : |
22.12.1994 |
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DIN No.: |
00077662 |
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Name : |
Mr. Sachin Nath Bhupender Chaturvedi |
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Designation : |
Director |
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Address : |
2803/04, 28th Floor, Shreepat Arcade, A K Marg, Nana Chowk,
Mumbai – 400 036, Maharashtra, India |
|
Date of Birth/Age : |
30.09.1950 |
|
Date of Appointment : |
31.12.1996 |
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DIN No.: |
00553459 |
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Name : |
Mr. Saurabh Arun Goel |
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Designation : |
Director |
|
Address : |
B-5, Sterling Apartments, 38, Pedder Road, Mumbai – 400 026,
Maharashtra, India |
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Date of Birth/Age : |
27.12.1984 |
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Date of Appointment : |
24.09.2007 |
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PAN No.: |
AHAPG5777H |
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DIN No.: |
00022496 |
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Name : |
Mr. Madhav Arun Goel |
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Designation : |
Additional Director |
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Address : |
B-5, Sterling Apartments, 38, Pedder Road, Mumbai – 400 026, Maharashtra,
India |
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Date of Birth/Age : |
15.10.1987 |
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Date of Appointment : |
20.03.2012 |
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PAN No.: |
AJIPG6954C |
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DIN No.: |
03578248 |
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|
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Name : |
Mr. Muneshwarnath Tapaswinath Modi |
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Designation : |
Director |
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Address : |
C/12, Gurudev Complex, Phase I, Sayli Road, Silvassa, Dadra Nagar
Haveli, India |
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Date of Birth/Age : |
14.09.1968 |
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Date of Appointment : |
30.06.2006 |
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DIN No.: |
00492652 |
KEY EXECUTIVES
|
Name : |
Mr. Viral Vijay Joshi |
|
Designation : |
Secretary |
|
Address : |
2, Ram Tatva Bhavana, 2nd Floor, N.S. Road, Mulund (West),
Mumbai – 400 080, Maharashtra, India |
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Date of Birth/Age : |
04.01.1985 |
|
Date of Appointment : |
16.05.2014 |
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PAN No.: |
AIKPJ8968Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2014
|
Names of Shareholders |
No. of Shares |
|
Kusum Arun Goel |
650100 |
|
Arun Goel |
629100 |
|
Saurabh Arun Goel |
196650 |
|
Madhav Arun Goel |
196650 |
|
Laxmi Satyapal Jain jointly with Satyapal Jain |
165100 |
|
Rina Virendra Jain jointly with Virendra Jain |
105100 |
|
Sushma Anand Jain jointly with Anand Jain |
173790 |
|
Gaurav Jain |
392400 |
|
Harsh Jain |
383710 |
|
Ankit Jain |
452400 |
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Total
|
3345000 |
AS ON 30.08.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of high quality synthetic ropes such as polypropylene-film ropes, HDPE twisted twine, polyester ropes, etc. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
China |
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Terms : |
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Selling : |
Cash, Advance Payment and Credit (30/ 60 days) |
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Purchasing : |
Cash, Advance Payment and Credit (30/ 60 days) |
PRODUCTION STATUS (AS
ON 31.03.2014):
|
Particulars |
Unit |
Actual
Production |
|
Ropes,
Twine and Nets and Warp Knitted Fabrics |
MT |
15839 |
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GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
·
Export-Import Bank of India, Centre One Building, Floor 21, World
Trade Centre Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India ·
Canara Bank, Nariman Point Branch, Mittal
Tower, C Wing, Nariman Point, Mumbai – 400 021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jayantilal Thakkar and Company Chartered Accountants |
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Address : |
111-A, Mahatma Gandhi Road, Fort, Mumbai – 400 023, Maharashtra, India
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PAN
No.: |
AAAFJ3458R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company : |
Tufropes Vietnam Company Limited, Vietnam |
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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
AFTER 30.08.2014
Authorised Capital : Rs.50.000 millions
Issued, Subscribed & Paid-up Capital : Rs.50.000
millions
AS ON 30.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3345000 |
Equity Shares |
Rs.10/- each |
Rs.33.450 millions |
|
455000 |
1% Non-Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.4.550 millions |
|
120000 |
12% Non-Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.12.000 millions |
|
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Total |
|
Rs.50.000
millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3345000 |
Equity Shares |
Rs.10/- each |
Rs.33.450 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 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
33.450 |
33.450 |
33.450 |
|
(b) Reserves & Surplus |
995.236 |
875.702 |
729.749 |
|
(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) |
1028.686 |
909.152 |
763.199 |
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
256.847 |
246.847 |
158.321 |
|
(b) Deferred tax liabilities
(Net) |
35.871 |
26.251 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
10.897 |
8.866 |
6.322 |
|
Total
Non-current Liabilities (3) |
303.615 |
281.964 |
164.643 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
94.642 |
131.452 |
38.948 |
|
(b) Trade payables |
36.083 |
31.429 |
19.699 |
|
(c) Other current liabilities |
103.635 |
84.108 |
38.956 |
|
(d) Short-term provisions |
10.641 |
9.630 |
2.958 |
|
Total
Current Liabilities (4) |
245.001 |
256.619 |
100.561 |
|
|
|
|
|
|
TOTAL |
1577.302 |
1447.735 |
1028.403 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
783.825 |
742.617 |
300.706 |
|
(ii) Intangible Assets |
0.515 |
1.979 |
2.753 |
|
(iii) Capital work-in-progress |
1.709 |
9.544 |
184.707 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
26.761 |
26.761 |
14.869 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
1.286 |
|
(d) Long-term Loan and Advances |
6.680 |
16.284 |
65.217 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
819.490 |
797.185 |
569.538 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.450 |
0.100 |
0.010 |
|
(b) Inventories |
284.785 |
205.865 |
166.904 |
|
(c) Trade receivables |
330.720 |
319.795 |
218.821 |
|
(d) Cash and cash equivalents |
17.631 |
30.976 |
24.451 |
|
(e) Short-term loans and
advances |
119.191 |
91.229 |
47.613 |
|
(f) Other current assets |
5.035 |
2.585 |
1.066 |
|
Total
Current Assets |
757.812 |
650.550 |
458.865 |
|
|
|
|
|
|
TOTAL |
1577.302 |
1447.735 |
1028.403 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
SALES |
|
|
|
|
|
|
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|
2290.762 |
2011.520 |
1685.847 |
|
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Other Income |
|
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TOTAL |
2290.762 |
2011.520 |
1685.847 |
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2052.849 |
1778.606 |
1458.719 |
|
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PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
237.913 |
232.914 |
227.128 |
|
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|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
56.360 |
38.477 |
21.332 |
|
|
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|
|
|
|
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|
PROFIT/
(LOSS) BEFORE TAX |
181.553 |
194.437 |
205.796 |
|
|
|
|
|
|
|
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|
Less |
TAX |
62.020 |
48.484 |
54.912 |
|
|
|
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|
|
|
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|
|
PROFIT/
(LOSS) AFTER TAX |
119.533 |
145.953 |
150.884 |
|
|
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|
|
|
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|
Add |
EXCESS
PROVISION - EARLIER YEAR |
0.000 |
0.000 |
(0.140) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
866.679 |
720.725 |
569.981 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
986.212 |
866.678 |
720.725 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
862.257 |
781.167 |
688.794 |
|
|
TOTAL EARNINGS |
862.257 |
781.167 |
688.794 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
132.149 |
113.972 |
116.919 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
43.63 |
45.11 |
|
Expected Sales (2014-2015): Rs.3000.000 millions
The above information has been parted by Mr. Sanjay Agarwal (Finance
Head).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.72 |
13.78 |
24.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.21 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.34 |
0.42 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.09 |
2.54 |
4.56 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
33.450 |
33.450 |
33.450 |
|
Reserves & Surplus |
729.749 |
875.702 |
995.236 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
763.199 |
909.152 |
1028.686 |
|
|
|
|
|
|
Long Term borrowings |
158.321 |
246.847 |
256.847 |
|
Short Term borrowings |
38.948 |
131.452 |
94.642 |
|
Total borrowings |
197.269 |
378.299 |
351.489 |
|
Debt/Equity ratio |
0.258 |
0.416 |
0.342 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
1,685.847 |
2,011.520 |
2,290.762 |
|
|
|
19.318 |
13.882 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
1,685.847 |
2,011.520 |
2,290.762 |
|
Profit |
150.884 |
145.953 |
119.533 |
|
|
8.95% |
7.26% |
5.22% |
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 |
50.000 |
25.000 |
NA |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
LITIGATION
DETAILS:
|
Case Details |
|
Bench:-Bombay |
||
|
|
|
Presentation
Date:- |
11/03/2014 |
||||||||
|
Lodging No.:- |
SSL/234/2014 |
Filing Date:- |
11/03/2014 |
Reg. No.:- |
SS/481/2014 |
Reg. Date:- |
17/06/2014 |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
Petitioner:- |
Hamburg Sud (India) Private Limited |
Respondent:- |
Tufropes Private Limited |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Petn. Adv.:- |
Deven Dwarkadas (0) |
Resp. Adv.:- |
V. Deshpande and Company (0) Defendant No. 1 and 2 (0) |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
District:- |
MUMBAI |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
MONETARY SUITS |
|
Act :- |
Code of Civil Procedure 1908
|
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from others |
0.000 |
40.000 |
|
Total |
0.000 |
40.000 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10344043 |
15/07/2014 * |
176,232,200.00 |
EXPORT-IMPORT BANK OF
INDIA |
CENTRE ONE BUILDING,
FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA -
400005, INDIA |
C11348158 |
|
2 |
10345096 |
22/10/2013 * |
640,000,000.00 |
CANARA BANK |
PCB-1, MAKER TOWER F,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B87969374 |
|
3 |
80002752 |
19/06/2013 * |
640,000,000.00 |
CANARA BANK |
PCBI-1, MAKAR TOWER-F,
CUFFEE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B79170502 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Land
·
Factory Building
·
Plant and Machinery
·
Staff Quarter
·
Labour Quarter
·
Electrical Installation
·
Office Equipments
·
Factory Equipments
·
Furniture and Fixtures
·
Computers
·
Vehicles
·
Air Conditioner
·
Laboratory Equipments
Intangible Assets
·
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.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
-- PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.