MIRA INFORM REPORT

 

 

Report No. :

330089

Report Date :

04.07.2015

 

IDENTIFICATION DETAILS

 

Name :

NITIN FIRE PROTECTION INDUSTRIES LIMITED

 

 

Registered Office :

501, Delta Technology Street, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra

Tel. No.:

91-22-40457000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

04.09.1995

 

 

Com. Reg. No.:

11-092323

 

 

Capital Investment / Paid-up Capital :

Rs.584.539 Million

 

 

CIN No.:

[Company Identification No.]

L29193MH1995PLC092323

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACN1967G

 

 

Legal Form :

A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange.

 

 

Line of Business :

The Company’s business activity is that of manufacturing Fire Fighting Equipment (gas based and water based fire extinguishers).

 

 

No. of Employees :

Information denied by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (60)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in 1995 and it is engaged in the business of detection and fire suppression systems, and manufactures fire extinguishers. It is a well-established company having satisfactory track.

 

For the financial year ended 2015, the company possesses a decent financial profile marked by healthy networth along with improvement in operational performance and decent operational base of the company.

 

Rating also takes into consideration company’s established market position and diversified product portfolio in the fire protection business backed by promoters extensive industry experience in a segment. 

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment.

 

In view of aforesaid, 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.

 

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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: A-

Rating Explanation

Adequate degree of safety and low credit risk.

Date

05.12.2014

 

Rating Agency Name

CRISIL

Rating

Short Term Rating: A2+

Rating Explanation

Strong degree of safety and low credit risk.

Date

05.12.2014

 

 

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 31-03-2013.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Bharat Shah

Designation :

Accounts Department

Contact No.:

91-22-40457000

Date :

04.07.2015

 

 

LOCATIONS

 

Registered Office / Corporate Office :

501, Delta Technology Street, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India

Tel. No.:

91-22-40457000/25700392

Fax No.:

91-22-25701110/25701110

E-Mail :

cs@nitinfire.com

nitinfire@vsnl.com

Website :

www.nitinfire.com

 

 

Factory 1 :

A/117, TCC. Industrial Area, Khairna Village, Vashi, Navi Mumbai – 400701, Maharashtra, India

Tel. No.:

91-22-27672592

Area:

594 sq.mtr (Owned)

 

 

Factory 2 :

Shed -6, Phase-I, Duvvada VSEZ, Vishakhapatnam, Andhra Pradesh, India

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Nitin M. Shah

Designation :

Chairman and Managing Director

Address :

B/8, Neelkanth Dharar, 3rd Floor, Garodia Nagar, 90 Feet Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

10.06.1957

Qualification :

Diploma in Mechanical Engineering

Date of Appointment :

03.11.2014

DIN No.:

00073232

 

 

Name :

Mr. Rahul N. Shah

Designation :

Whole-time Director and Key Managerial Personnel (w.e.f. August 14, 2014)

Date of Birth/Age :

01.08.1978

Qualification :

Graduate in Commerce and Diploma in Business Management

Date of Appointment :

14.08.2014

DIN No.:

00073226

 

 

Name :

Mr. Kunal N. Shah

Designation :

Whole-time Director (w.e.f. August 14, 2014)

Date of Birth/Age :

13.11.1984

Qualification :

Engineer in Electronics and Tele Communications

Date of Appointment :

14.08.2014

DIN No.:

00077216

 

 

Name :

Mr. Kailat Hariharan Vaidyanathan

Designation :

Non-Executive Director

DIN No.:

00077323

 

 

Name :

Mr. Krishna Kant Jha

Designation :

Independent Director

Date of Birth/Age :

18.08.1945

Qualification :

Mechanical Engineer

Date of Appointment :

30.09.2014

DIN No.:

02816500

 

 

Name :

Mr. Ramakant M. Nayak

Designation :

Independent Director

Date of Birth/Age :

30.06.1945

Qualification :

Degrees in Science and Law and Diploma in Marketing

Date of Appointment :

12.04.2010

DIN No.:

00129854

 

 

Name :

Mr. Satish K. Dheri

Designation :

Independent Director

Date of Birth/Age :

23.11.1941

Qualification :
  • An alumni of Govt. College, Ajmer, Rajasthan.
  • Graduate from Institute of Fire Engineers, India
  • Advance Diploma in Fire Safety, Nagpur.
  • Passed Group Training Course in Fire Service Administration at Japan under Colombo Plan.

Date of Appointment :

29.05.2012

DIN No.:

00077533

 

 

KEY EXECUTIVES

 

Name :

Mr. Kamlesh Gandhi

Designation :

Chief Financial Officer

 

 

Name :

Mr. Bharat Shah

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

 

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

210102495

71.89

http://www.bseindia.com/include/images/clear.gifSub Total

210102495

71.89

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

210102495

71.89

 

 

 

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

1244

0.00

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

7298468

2.50

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

41557229

14.22

http://www.bseindia.com/include/images/clear.gifSub Total

48856941

16.72

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

7970681

2.73

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 Million

13585275

4.65

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million

8281559

2.83

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

3472671

1.19

http://www.bseindia.com/include/images/clear.gifClearing Members

636786

0.22

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

2793920

0.96

http://www.bseindia.com/include/images/clear.gifEmployees

22063

0.01

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

19902

0.01

http://www.bseindia.com/include/images/clear.gifSub Total

33310186

11.40

Total Public shareholding (B)

82167127

28.11

 

 

 

Total (A)+(B)

292269622

100.00

 

 

 

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

 

 

 

Total (A)+(B)+(C)

292269622

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Company’s business activity is that of manufacturing Fire Fighting Equipment (gas based and water based fire extinguishers).

 

 

Products :

Product Description

ITC Code

Fire Protection Systems

84248000

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information denied by the management.

 

 

Bankers :
  • IDBI Bank Limited
  • Axis Bank Limited
  • Bank of Baroda
  • YES Bank

 

 

Facilities :

 

Secured Loan

As on

31.03.2015

As on

31.03.2014

 

(Rs. In Million)

Long term borrowings:

 

 

From Bank

 

 

Vehicle Loan

NA

0.111

Short term borrowings:

 

 

Repayable on demand from banks:

 

 

- Cash credit

NA

792.213

- Working capital demand loan

NA

170.000

Foreign currency loans*

(* buyers line of credit availed by the Company)

NA

1593.359

Total

NA

2555.683

 

Long term borrowings:

 

  • Vehicle loans from a bank is secured by the hypothecation of the underlying asset and has a maturity period up to three years.
  • Loan is payable in thirty-six installments of Rs.56580 each and carries rate of interest of 10.14% per annum.

 

Short term borrowings:

 

  • IDBI Bank Limited:
  • Primary security: First pari pasu charge on inventory and book debts and entire movable assets of the Company, both present and future.
  • Collateral security: First pari passu charge on the movable and immovable fixed assets of the Company both present and future including its location at its factory at A-117, TTC Industrial Area, Pawana Village, Navi Mumbai and office premises at 501/502 Delta, Technology Street, Hiranandani Gardens, Powai, Mumbai 400076, equitable mortgage (first charge) of premises belonging to a domestic subsidiary viz. Eurotech Cylinders Private Limited located at EL-29, TTC Industrial Area, Mahape, Navi Mumbai 400 701.

 

Personal guarantees of the Managing Director and a Whole Time Director aggregating to Rs.1600.000 Million (P.Y.Rs.1600.000 Million). For SBLC facility, further secured by pledge of 14,070,000 (P.Y.14,070,000) shares of the Company (belonging to the Director of the Company).

  • Credit facilities availed:

Working capital loan, stand by letter of credit and other non-fund based facilities.

  • Axis Bank Limited:
  • Primary security: First pari passu charge on the current assets of the Company, both present and future, negative lien on the receivables of a foreign subsidiary viz. Nitin Ventures Fze.
  • Collateral security: Pari passu charge on the fixed assets of the Company at its factory at A-117,TTC Industrial area, Pawana Village, Navi Mumbai and also pari passu charge on office premises at 501/502 Delta Technology Street, Hiranandani Gardens, Powai and pledge of 14,000,000 (12,500,000) shares of the Company (belonging to the promoters of the Company) and personal guarantees of the Managing Director and a Whole Time Director aggregating to Rs.1712.000 Million (P.Y. Rs. 1485.000 Million).
  • Credit facilities availed

Working capital loan, stand by letter of credit and other non-fund based facilities.

  • Yes Bank Limited:
  • Primary security: First pari pasu charge on inventory and book debts and entire movable assets of the Company, both present and future.
  • Collateral security: First pari passu charge on the movable and immovable fixed assets of the Company both present and future including its location at its factory at A-117, TTC Industrial Area, Pawana Village, Navi Mumbai and office premises at 501/502 Delta, Technology Street, Hiranandani Gardens, Powai, Mumbai 400076.

Personal guarantee of a Whole Time Director aggregating to Rs. 430.000 Million (P.Y. Rs.700.000 Million) and pledge of 10,100,000 (P.Y. 27,000,000) shares of the Company (belonging to the promoters of the Company).

  • Credit facilities availed:

Working capital loan, stand by letter of credit and other non-fund based facilities.

  • Bank of Baroda
  • Primary security: First pari passu charge on the inventory and book debts and entire movable assets of the Company , both present and

future with other consortium member banks.

  • Collateral security: First pari passu charge on the movable and immovable fixed assets of the Company both present and future including its location at its factory at A-117, TTC Industrial Area, Pawana Village, Navi Mumbai and office premises at 501/502 Delta, Technology Street, Hiranandani Gardens, Powai, Mumbai 400076.

Personal guarantee of a Whole Time Director aggregating to Rs.890.000 Million (P.Y. Rs. Nil).

  • Credit facilities availed:

Working capital loan, stand by letter of credit and other non-fund based facilities.

 

Auditors :

 

Name :

Haribhakti and Comapny

Chartered Accountants

 

 

Domestic subsidiaries

[AS ON 31.03.2014] :
  • Eurotech Cylinders Private Limited
  • Nitin Fire Protection Appliances Private Limited (effective April 20, 2012)
  • Nitin Fire Protection Systems Private Limited (effective May 3, 2012)

 

 

Foreign subsidiaries

[AS ON 31.03.2014]:
  • Nitin Ventures FZE, UAE
  • Nitin Global Pte Limited, Singapore

 

 

Step down foreign subsidiaries

[AS ON 31.03.2014]:
  • New Age Company LLC, UAE
  • Firetec Systems Limited, UK (effective April 30, 2013)

 

 

Un-incorporated joint venture [AS ON 31.03.2014] :

Oil Block (RJ-ONN-2004/1)

 

 

Associate [AS ON 31.03.2014] :

Worthington Nitin Cylinders Private Limited (WNCPL)

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : Rs. 584.539 Million

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

301750000

Equity Shares

Rs.2/- each

Rs.603.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

220552694

Equity Shares

Rs.2/- each

Rs.441.105 Million

 

 

 

 

 

 

Reconciliation of equity shares outstanding at the beginning and at the end of the reporting year's is set out below:

Particulars

Number

Rs. In Million

 

 

 

Outstanding at the beginning of the year

220,552,694

441.105

Equity shares bought back during the year

1,346,583

2.693

Outstanding at the end of the year

219,206,111

438.412

 

Terms/rights attached to equity shares

 

Each holder of equity shares is entitled to one vote per equity share. They are entitled to receive dividend proposed by the Board of Directors and approved by shareholders in General Meeting, right to receive annual report and other quarterly / half yearly / annual publications and right to get new shares proportionately in case of issuance of additional shares by the Company.

 

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after the distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

 

Shareholders holding more than 5% of the paid up equity share capital of the Company:

Particulars

No. of shares held

% of holding

Name of the shareholders

 

 

Nitin M.Shah

45,089,126

20.57%

Saroj N. Shah

46,472,725

21.20%

Rahul N. Shah

14,123,500

6.44%

Kunal N. Shah

23,004,750

10.49%

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

584.539

438.412

441.105

(b) Reserves & Surplus

1086.676

1046.584

1063.114

(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)

1671.215

1484.996

1504.219

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

229.928

0.111

0.741

(b) Deferred tax liabilities (Net)

0.000

0.000

1.000

(c) Other long term liabilities

0.000

0.218

0.200

(d) long-term provisions

2.861

1.539

0.526

Total Non-current Liabilities (3)

232.789

1.868

2.467

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1863.849

2555.572

2206.371

(b) Trade payables

850.424

265.332

340.284

(c) Other current liabilities

66.079

190.256

38.079

(d) Short-term provisions

29.487

62.226

61.677

Total Current Liabilities (4)

2809.839

3073.386

2646.411

 

 

 

 

TOTAL

4713.843

4560.250

4153.097

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

437.891

116.406

125.531

(ii) Intangible Assets

0.000

0.754

0.000

(iii) Capital work-in-progress

0.000

231.796

227.503

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

117.571

129.566

591.853

(c) Deferred tax assets (net)

1.578

1.781

0.000

(d)  Long-term Loan and Advances

83.007

78.279

97.305

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

640.047

558.582

1042.192

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1188.231

940.045

757.433

(c) Trade receivables

1880.977

1586.142

1755.484

(d) Cash and cash equivalents

145.932

339.804

530.182

(e) Short-term loans and advances

312.111

663.150

59.167

(f) Other current assets

546.545

472.527

8.639

Total Current Assets

4073.796

4001.668

3110.905

 

 

 

 

TOTAL

4713.843

4560.250

4153.097

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

4827.460

4554.351

3520.392

 

 

Other Operating Income

62.240

0.000

0.224

 

 

Other Income

133.768

12.123

108.013

 

 

TOTAL                                     (A)

5023.468

4566.474

3628.629

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

2376.147

2294.235

1981.919

 

 

Purchases of Stock-in-Trade

1876.349

1677.919

981.536

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

14.858

(43.328)

8.823

 

 

Employees benefits expense

74.901

83.071

68.749

 

 

Other expenses

169.725

150.509

150.652

 

 

Exceptional Items (net)

0.000

44.468

17.288

 

 

TOTAL                                     (B)

4511.980

4206.874

3208.967

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

511.488

359.600

419.662

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

315.428

209.990

187.144

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

196.060

149.610

232.518

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

25.047

11.620

10.501

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

171.013

137.990

222.017

 

 

 

 

 

Less

TAX                                                                  (H)

 35.333

28.233

46.632

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

135.680

109.757

175.385

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

547.857

489.392

365.614

 

 

 

 

 

Add

Surplus on Amalgamation

NA

0.000

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

NA

0.000

0.000

 

 

Dividend

NA

43.841

44.110

 

 

Tax on Dividend

NA

7.451

7.497

 

BALANCE CARRIED TO THE B/S

NA

547.857

489.392

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

NA

3292.908

2301.502

 

TOTAL EARNINGS

NA

3292.908

2301.502

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

1839.703

635.711

 

 

Traded Goods

NA

1476.272

931.862

 

TOTAL IMPORTS

NA

3315.975

1567.573

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.46

0.50

0.80

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

0.629

0.566

Cash generated from operations

NA

NA

NA

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin
(PAT / Sales)

(%)

2.81

2.41

4.98

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

10.60

7.90

11.92

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.72

3.29

6.66

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.10

0.09

0.15

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.25

1.72

1.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.45

1.30

1.18

 

STOCK PRICES

 

Face Value

Rs.2.00/-each

Market Value

Rs.34.20 /-each

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

441.105

438.412

584.539

Reserves & Surplus

1063.114

1046.584

1086.676

Share Application money pending allotment

0.000

0.000

0.000

Net worth

1504.219

1484.996

1671.215

 

 

 

 

long-term borrowings

0.741

0.111

229.928

Short term borrowings

2206.371

2555.572

1863.849

Total borrowings

2207.112

2555.683

2093.777

Debt/Equity ratio

1.467

1.721

1.253

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

3520.392

4554.351

4827.460

 

 

29.371

5.997

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

3520.392

4554.351

4827.460

Profit

175.385

109.757

135.680

 

4.98%

2.41%

2.81%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

Yes

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

No

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10565988

20/03/2015

53,000,000.00

ADITYA BIRLA FINANCE LIMITED

INDIAN RAYON COMPOUND,, VERAVAL, GUJARAT - 362266, 
INDIA

C51947398

2

10539626

10/12/2014

250,000,000.00

IFCI LIMITED

9TH FLOOR, EARNEST HOUSE, NCPA ROAD, NARIMAN POIN 
T,, MUMBAI, MAHARASHTRA - 400021, INDIA

C38619557

3

10414944

18/09/2013 *

3,215,000,000.00

AXIS TRUSTEE SERVICES LIMITED

AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI, MAHARAS 
HTRA - 400025, INDIA

B85706661

4

10330077

25/03/2013 *

1,060,000,000.00

AXIS TRUSTEE SERVICES LIMITED

AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI, MAHARAS 
HTRA - 400025, INDIA

B71802615

5

10224210

18/05/2010

75,000,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA 
RASHTRA - 400005, INDIA

A87157145

6

10213256

23/02/2010

340,000,000.00

AXIS BANK LIMITED

GROUND FLOOR, VENTURE CENTRAL AVENUE,, HIRANADANI 
BUSINESS PARK, POWAI, MUMBAI, MAHARASHTRA - 40007 
6, INDIA

A83390807

7

10113719

14/06/2008

12,500,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA 
RASHTRA - 400005, INDIA

A41786484

8

10045749

15/09/2010 *

250,000,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA 
RASHTRA - 400005, INDIA

A95993200

 

* Date of charge modification

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and equipments
  • Furniture and fixtures
  • Office equipments
  • Vehicles
  • Computer systems
  • Cylinders

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 records 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.63.39

UK Pound

1

Rs.98.94

Euro

1

Rs.70.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILIRY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

6

--RESERVES

1~10

7

--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

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

60

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.