MIRA INFORM REPORT
|
Report No. : |
331791 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIRGO VALVES AND CONTROLS PRIVATE LIMITED (W.E.F. 27.11.2013) |
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|
|
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Formerly Known
As : |
VIRGO VALVES AND CONTROLS LIMITED |
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Registered
Office : |
7 B, 3rd Floor, Sambhava Chambers, Sir P. M. Raod, Fort,
Mumbai – 400001, Maharashtra |
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Tel. No.: |
91- 20-66744000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.06.2004 |
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Com. Reg. No.: |
11-146916 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.311 Million |
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CIN No.: [Company Identification
No.] |
U29120MH2004PTC146916 |
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IEC : |
0304030945 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMV11688F |
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PAN No.: [Permanent Account No.] |
AABCV8733H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is primarily engaged in the manufacture of Industrial valves and accessories for power, chemical, petrochemical, pharmaceutical, oil and gas industries. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 |
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Maximum Credit Limit : |
USD 14000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “EMERSON PROCESS MANGEMENT INDI PRIVATE LIMITED”.
It is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and sound profitability margins of the company.
Further company receives good financial and managerial support from its
holding company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of strong holding company, 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
07.11.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating =A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
07.11.2014 |
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 PARTED BY
|
Name : |
Ms. Priya |
|
Designation : |
Admin |
|
Contact No.: |
91-22-32150281/ 20-66744000 |
LOCATIONS
|
Registered Office : |
7 B, 3rd Floor, Sambhava Chambers, Sir P. M. Raod, Fort,
Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91- 20-66744000 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
227 / 278, Hinjewadi Phase 2, Maan (Mulshi), Pune - 411057, Maharashtra, India |
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Tel. No.: |
91-20-66744000/ 66744021 |
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Fax No.: |
91-20-66744021 |
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E-Mail : |
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Overseas Office : |
Located at
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DIRECTORS
As on 22.09.2014
|
Name : |
Terry Don Buzbee |
|
Designation : |
Director |
|
Address : |
406, New Salem Road, Marshall Town Iowa - 50158, United States of
America |
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Date of Birth/Age : |
16.07.1955 |
|
Date of Appointment : |
04.10.2013 |
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DIN No.: |
00398731
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Name : |
Mr. Jagdish Shivanand Desai |
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Designation : |
Director |
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Address : |
F/2, Shanti Cooperative Housing Society, Mogal Lane, MAhim, Mumbai –
400016, Maharashtra, India |
|
Date of Birth/Age : |
21.01.1959 |
|
Date of Appointment : |
29.07.2005 |
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DIN No.: |
00335436 |
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Name : |
Mr. Paresh Jaisinh Rajda |
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Designation : |
Director |
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Address : |
F-6/1, Gera Emerald City,
Pancard Club Road, Baner, Pune – 411045, Maharashtra, India |
|
Date of Birth/Age : |
18.01.1957 |
|
Date of Appointment : |
30.04.2013 |
|
PAN No.: |
ABOPR7016G |
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DIN No.: |
00680340 |
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Name : |
Daniel Glen Button |
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Designation : |
Director |
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Address : |
552, Autumn Oaks Drive, Ellisville Missouri – 63021, United States of America |
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Date of Birth/Age : |
07.03.1954 |
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Date of Appointment : |
04.10.2013 |
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DIN No.: |
00928557
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Name : |
Christopher Guild Scales |
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Designation : |
Director |
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Address : |
7, Cragmere Heights Road, Exeter Nh 038334515, United States of
America |
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Date of Birth/Age : |
08.11.1962 |
|
Date of Appointment : |
04.10.2013 |
|
DIN No.: |
03008344
|
|
Name : |
Mr. John Patrick Wilson |
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Designation : |
Director |
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Address : |
2003, Gethmann Dr. Marshall Town Ia Marshall Town – 50158, United States
of America |
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Date of Birth/Age : |
09.02.1976 |
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Date of Appointment : |
04.10.2013 |
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DIN No.: |
06430335
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|
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Name : |
Kevin Meyer Gerard |
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Designation : |
Director |
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Address : |
2260, Marshall Town Blvd Marshall Town Ia, Marshall Town – 50158,
United States of America |
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Date of Birth/Age : |
02.010.1965 |
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Date of Appointment : |
04.10.2013 |
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DIN No.: |
05199658
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KEY EXECUTIVES
|
Name : |
Ms. Priya |
|
Designation : |
Admin |
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|
Name : |
Mr. Manoj Rmakant Kohok |
|
Designation : |
Secretary |
|
Address : |
Shreer Amkunj, 43/73, NAvsahyadri Housing Society, Karvenagar, Pune –
411052, Maharashtra, India |
|
Date of Birth/Age : |
28.08.1967 |
|
Date of Appointment : |
30.04.2013 |
|
PAN No.: |
ABJPK9557C |
MAJOR SHAREHOLDERS
As on 22.09.2014
|
Names of Shareholders |
No. of Shares |
|
Emerson Process Management (India) Private Limited |
5310911 |
|
Laxmikant R. Iyengar |
1 |
|
Sunil Khanna |
1 |
|
Chandramauli Balan |
1 |
|
Pradipta T. Sen |
1 |
|
Sharad A. Rane |
1 |
|
Amit A. Paithankar |
1 |
|
Total |
5310917 |
As on 22.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the manufacture of
Industrial valves and accessories for power, chemical, petrochemical, pharmaceutical,
oil and gas industries. |
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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 : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Italy · USA |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
· DBS Bank Limited, Elbee House, Siddharth Path, Off Dhole Patil Road, Pune - 411001, Maharashtra, India · The Hongkong And Shanghai Banking Corporation Limited, 52/60 Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India · State Bank Of India, Industrial Finance Branch, Pimpri, Pune - 411034, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
B S R AND Associates LLP Chartered Accountants |
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Address : |
701-703, 7th Floor, Godrej Castlemaine, Next to
Ruby Hall Clinic, Bund Garden Road, Pune - 411001 |
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Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
Emerson Process Management (India) Private Limited |
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Ultimate Holding
Company : |
Emerson Electric Co. |
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Subsidiary company
: |
· Emerson Process Management Virgo Valves INC, · Emerson Process Management Virgo Valve S. R. L. · Virgo Valves and Controls (ME) FZE · Vintrol Inc. · Virgo Valves and Controls Korea Limited. · Virgo Valves and Controls SDN BHD · Shanghai Virgo Valves Technology Consulting Company Limited ·
Emperson Process Management Virgo Valves Inc.,
USA |
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Fellow Subsidiary
company : |
· Emerson Network Power (India) Private Limited · Asco Numatics (India) Private Limited India · Emerson Process Mgmt. Chennai Limited, India · El-O-Matic Valve Actuators, Singapore · Emerson Process, GUL Road, Singapore · Emerson Process Asia Pacific PTE, Singapore ·
Emerson Network Power (Pune) Limited India |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
620000000 |
Equity Shares |
Rs. 1/- each |
Rs. 620.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5310917 |
Equity Shares |
Re. 1/- each |
Rs. 5.311 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
5.311 |
5.278 |
10.000 |
|
(b) Reserves & Surplus |
4929.617 |
4309.509 |
2627.918 |
|
(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) |
4934.928 |
4314.787 |
2637.918 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
537.060 |
204.916 |
|
(b) Deferred tax liabilities (Net) |
59.725 |
68.671 |
0.000 |
|
(c)
Other long term liabilities |
29.363 |
28.276 |
0.000 |
|
(d)
long-term provisions |
41.187 |
28.551 |
5.914 |
|
Total
Non-current Liabilities (3) |
130.275 |
662.558 |
210.830 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2846.478 |
1563.467 |
730.876 |
|
(b)
Trade payables |
1142.854 |
1809.323 |
1133.631 |
|
(c)
Other current liabilities |
881.330 |
566.551 |
131.822 |
|
(d)
Short-term provisions |
17.357 |
13.392 |
4.537 |
|
Total
Current Liabilities (4) |
4888.019 |
3952.733 |
2000.866 |
|
|
|
|
|
|
TOTAL |
9953.222 |
8930.078 |
4849.614 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2006.080 |
1913.910 |
515.699 |
|
(ii)
Intangible Assets |
21.976 |
22.307 |
17.421 |
|
(iii)
Capital work-in-progress |
10.060 |
27.759 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
4.791 |
0.000 |
|
(b) Non-current Investments |
523.389 |
542.433 |
716.388 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
10.577 |
|
(d) Long-term Loan
and Advances |
240.747 |
81.318 |
198.279 |
|
(e)
Other Non-current assets |
108.427 |
33.237 |
3.742 |
|
Total
Non-Current Assets |
2910.679 |
2625.755 |
1462.106 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
2754.698 |
2073.903 |
889.243 |
|
(c)
Trade receivables |
2896.068 |
2729.864 |
1574.399 |
|
(d)
Cash and cash equivalents |
244.951 |
133.036 |
75.317 |
|
(e)
Short-term loans and advances |
839.800 |
1003.868 |
767.397 |
|
(f)
Other current assets |
307.026 |
363.652 |
81.152 |
|
Total
Current Assets |
7042.543 |
6304.323 |
3387.508 |
|
|
|
|
|
|
TOTAL |
9953.222 |
8930.078 |
4849.614 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
7510.945 |
8805.594 |
3,948.013 |
|
|
Other Income |
0.000 |
0.000 |
0.00 |
|
|
TOTAL |
7510.945 |
8805.594 |
3948.013 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3598.590 |
5264.704 |
2548.865 |
|
|
Employee Cost and Operating Expenses |
2189.034 |
1766.077 |
712.067 |
|
|
TOTAL |
5787.624 |
7030.781 |
3260.932 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1723.321 |
1774.813 |
687.081 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
324.008 |
346.145 |
119.393 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1399.313 |
1428.668 |
567.688 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
213.876 |
185.476 |
43.497 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
1185.437 |
1243.192 |
524.191 |
|
|
|
|
|
|
|
Less |
TAX |
462.209 |
401.446 |
169.575 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
723.228 |
841.746 |
354.616 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
3291.122 |
2303.352 |
2057.882 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend on Equity Shares |
84.975 |
232.253 |
63.400 |
|
|
Transfer to General Reserve |
72.323 |
84.175 |
35.462 |
|
|
Tax on Dividend |
14.441 |
37.685 |
10.285 |
|
|
BALANCE CARRIED
TO THE B/S |
3927.586 |
3023.238 |
2366.751 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
136.18 |
158.49 |
66.77 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
395.554 |
224.972 |
51.093 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
266.648 |
1698.038 |
(89.958) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
9.63 |
9.56 |
8.98 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
22.94 |
20.16 |
17.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.58 |
14.88 |
12.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.29 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.66 |
0.54 |
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.59 |
1.69 |
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 |
10.000 |
5.278 |
5.311 |
|
Reserves & Surplus |
2627.918 |
4309.509 |
4929.617 |
|
Net worth |
2637.918 |
4314.787 |
4934.928 |
|
|
|
|
|
|
long-term borrowings |
204.916 |
537.060 |
0.000 |
|
Short term borrowings |
730.876 |
1563.467 |
2846.478 |
|
Current Maturities of
Long Term Debt |
51.093 |
224.972 |
395.554 |
|
Total borrowings |
986.885 |
2325.499 |
3242.032 |
|
Debt/Equity ratio |
0.374 |
0.539 |
0.657 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3,948.013 |
8805.594 |
7510.945 |
|
|
|
123.039 |
(14.703) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3948.013 |
8805.594 |
7510.945 |
|
Profit |
354.616 |
841.746 |
723.228 |
|
|
8.98% |
9.56% |
9.63% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
----------------- |
|
33 |
Market information |
----------------- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
Note:
The Registered Office of the Company has been shifted from 1001 10th
Floor, Krishnagovind Towers Sector – 24, Vashi, Navi Mumbai – 400705,
Maharashtra, India to the present address w.e.f. 10.01.2009.
CORPORATE INFORMATION
Subject is a private company domiciled in India, incorporated under the provisions of the Companies Act, 1956. The Company is primarily engaged in the manufacture of Industrial valves and accessories for power, chemical, petrochemical, pharmaceutical, oil and gas industries.
REVENUES:
During the year the Company’s total revenue stood at Rs.7.511 Million as against Rs.8.806 Million in the previous year. Profit after tax (PAT) stood at Rs.723 Million as against Rs.842 Million in the previous year.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10080918 |
29/06/2010
* |
550,000,000.00 |
CANARA
BANK |
INDUSTRIAL
FINANCE BRANCH, M. G. ROAD, PUNE - 411001, MAHARASHTRA, INDIA |
A91138602 |
|
2 |
90092710 |
28/07/2004 |
35,000,000.00 |
SBI
FACTORS AND COMMERCIAL SERVICES PRIVATE LIMITED |
TARA CHAMBERS;2ND
FLOOR ; MUMBAI-PUNE ROAD, WAKDEWADI, PUNE - 411003, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Factory building
· Plant and equipment
· Factory Equipments
· Other plant and equipment
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.63.37 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--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 |
|
66 |
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.