MIRA
INFORM REPORT
|
Report No. : |
334591 |
|
Report Date : |
31.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
WIM PLAST LIMITED |
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Registered
Office : |
Survey No. 324 / 4 to 7 of Kachigam, Village Kachigam, Swaminarayan Gurukul Road, Nani Daman, Daman – 396210, Daman and Diu |
|
Tel. No.: |
91-260-2242315 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Date of Incorporation
: |
07.10.1988 |
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Com. Reg. No.: |
56-001544 |
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Capital
Investment / Paid-up Capital : |
Rs. 60.017Million |
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CIN No.: [Company Identification
No.] |
L25209DD1988PLC001544 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is carrying the manufacturing activity of Plastic Moulded Furniture, Plastic Extrusion Sheets, Moulds and Air Coolers |
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No. of Employees
: |
498 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is established company incorporated on 7th October
1988, and it is having satisfactory track record. Rating on WIM PLAST LIMITED reflects healthy financial risk profile marked
growing scale of operations and capital structure, adequate net worth and
comfortable debt protection metrics. The rating continues to dive strength from established track record of
the company, experienced promoter and wide establish marketing channels. However, these rating are partially offset by the seasonal
availability of raw material and fluctuating raw material prices and intense
competition from its peer group. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of decent operational base backed by established track record
and its Brand Name “CELLO”, the company can be considered good 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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. Madhusudan Ramniwas Jangid |
|
Designation : |
Chief Financial office |
|
Contact No.: |
91-22-42687000 |
|
Date : |
29.07.2015 |
LOCATIONS
|
Registered Office / Factory 1 : |
Survey No. 324 / 4 to 7 of Kachigam, Village Kachigam, Swaminarayan Gurukul Road, Nani Daman, Daman – 396210, Daman and Diu, India |
|
Tel. No.: |
91-260-2242315 |
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Fax No.: |
91-260-2241922 |
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E-Mail : |
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Website : |
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Corporate Office /
Head Office : |
Cello House,
Corporate Avenue, 1st Floor,
‘B’ Wing, Sonawala Road, Goregaon
(East), Mumbai - 400063,
Maharashtra, India |
|
Tel. No.: |
91-22-26863426 / 27 / 26864630 |
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Fax No.: |
91-22-26863681 |
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E-Mail : |
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Factory 2 : |
Khasara
No.502/1,531-534, Village Akkanwali, Baddi, Tehsil Nalagarh, District - Solan - 173205 , Himachal Pradesh, India |
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Tel No.: |
91-1795 - 321295 |
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E-Mail : |
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Factory 3 : |
A/13, E/S1 , SIPCOT Industrial Complex, Gummidipoondi, Chennai – 601201, Tamilnadu, India |
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Tel. No.: |
91-44-27924050 |
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E-Mail : |
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Factory 4 : |
Sr. No. 666/3
and 4, Opposite Kachigam Sub Station Dabhel, Daman U.T. – 396210,
Daman and Diu, India |
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Factory 5 : |
Plot No. 34,
IP – IV, Village Begampur, Old Roorkee Road, Bhadrabad, Haridwar – 249403,
Uttrakhand, India |
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E-Mail : |
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Factory 6 : |
Plot No. A/2 Naihati, Rishi Bankim
Industrial Estate, 24 Paraganas (North), Kolkata
– 743135, West Bengal, India |
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E-Mail : |
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Depots : |
·
Hyderabad B-Block, Central
Warehousing Corporation, Delhi Public School Lane, Nacharam, Hyderabad – 500001, Andhra Pradesh,
India ·
Zirakpur Hadbast No. 234, Opposite Swami Vivekanand School, Godown Area, Village Prabhat, N. A. C. Zirakpur, Tehsil Derabassi, District Mohali - 140603, Punjab, India Tel : 91-1762-287 036 ·
Jodhpur Khasra No. 358/359, Jodhpur Pali Highway, Kakani, Jodhpur - 342001, Rajasthan, India ·
Vapi Shop No. 5, Plot No. 10, Sr. No. 486, Chala Vapi – 396191, Gujarat, India ·
Ambala 198 - 199 Markanda Complex, Sena Nagar, Ambala City, Ambala – 134003, Harayana, India ·
Chennai Transit Shed T3, SIPCOT Industrial Estate, Pappankuppam Village, Thiruvallur District, Gummidipoondi, Chennai- 601201, Tamilnadu, India ·
Muzaffarnagar C/o Garg Buildcon (P) Limited, Shernagar, Jansath Road,
Muzaffarnagar – 251001, Uttar Pradesh, India ·
Cuttack Holding No -779, Shed No C/9 , 46 Industrial Estate, Cu-cc Madhupatna Cuttack – 753010, Odisha, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Ghisulal D. Rathod |
|
Designation : |
Chairman |
|
DIN No.: |
00027607 |
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|
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|
Name : |
Mr. Pradeep G. Rathod |
|
Designation : |
Managing Director |
|
DIN No.: |
00027527 |
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|
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|
Name : |
Mr. Pankaj G. Rathod |
|
Designation : |
Director |
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DIN No.: |
00027572 |
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|
|
|
Name : |
Mr. Fatechand M. Shah |
|
Designation : |
Director |
|
DIN No.: |
00061717 |
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|
Name : |
Mr. Harilal L. Boolani |
|
Designation : |
Director |
|
DIN No.: |
00049179 |
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|
|
|
Name : |
Mr. S.M. Khinvesra |
|
Designation : |
Director |
|
DIN No.: |
02372984 |
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|
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|
Name : |
Mr. Mahendra F. Sundesha |
|
Designation : |
Director |
|
DIN No.: |
01532570 |
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|
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|
Name : |
Mr. Prem G. Manghani |
|
Designation : |
Director |
|
DIN No.: |
05350795 |
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|
Name : |
Mr. Pushp Raj Singhvi |
|
Designation : |
Director |
|
DIN No.: |
00347511 |
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|
|
|
Name : |
Mr. Karishma P. Rathod |
|
Designation : |
Director |
|
DIN No.: |
06884681 |
KEY EXECUTIVES
|
Name : |
Mr. Madhusudan Jangid |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Kapil D. Joshi |
|
Designation : |
Company Secretary |
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|
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Audit Committee : |
·
Mr.
S.M. Khinvesra (Chairman) ·
Mr.
Pradeep G. Rathod ·
Mr.
Harilal L. Boolani ·
Mr.
Mahendra F. Sundesha |
|
|
|
|
Remuneration
Committee : |
· Mr. Harilal L. Boolani (Chairman) · Mr. S.M. Khinvesra · Mr. Pankaj G. Rathod |
|
|
|
|
Nomination and
Remuneration Committee: |
· Mr. Harilal L. Boolani (Chairman) · Mr. S.M. Khinvesra · Mr. Pankaj G. Rathod |
|
|
·
|
|
Risk Management
Committee: |
· Mr. Mahendra F. Sundesha (Chairman) · Mr. Pradeep G. Rathod · Mr. Pankaj G. Rathod |
|
|
|
|
Stakeholders’
Relationship Committee: |
· Mr. Harilal L. Boolani (Chairman) · Mr. Ghisulal D. Rathod · Mr. Pradeep G. Rathod |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4501036 |
75.00 |
|
|
200 |
0.00 |
|
|
4501236 |
75.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
4501236 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
103735 |
1.73 |
|
|
1000 |
0.02 |
|
|
3900 |
0.06 |
|
|
108635 |
1.81 |
|
|
|
|
|
|
139749 |
2.33 |
|
|
|
|
|
|
798892 |
13.31 |
|
|
340474 |
5.67 |
|
|
112694 |
1.88 |
|
|
5633 |
0.09 |
|
|
42861 |
0.71 |
|
|
64200 |
1.07 |
|
|
1391809 |
23.19 |
|
Total Public shareholding (B) |
1500444 |
25.00 |
|
Total (A)+(B) |
6001680 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
6001680 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
S. No. |
Name Of The Shareholder |
Details Of Shares
Held |
|
|
No. Of Shares
Held |
As A % Of Grand
Total |
||
|
1 |
Pampuben G Rathod |
8,25,000 |
13.75 |
|
2 |
Pankaj G Rathod |
4,50,000 |
7.50 |
|
3 |
Pradeep G Rathod |
4,50,000 |
7.50 |
|
4 |
Ghisulal D Rathod |
4,42,056 |
7.37 |
|
5 |
Gaurav Pradeep Rathod |
4,00,000 |
6.66 |
|
6 |
Fatechand Mulchand Shah |
2,79,600 |
4.66 |
|
7 |
Motilal Mulchand Shah |
2,65,000 |
4.42 |
|
8 |
Babita P Rathod |
2,30,000 |
3.83 |
|
9 |
Sangeeta P Rathod |
2,30,000 |
3.83 |
|
10 |
Kavita Shah |
2,16,460 |
3.61 |
|
11 |
Jayesh Ashok Shah |
2,14,140 |
3.57 |
|
12 |
Chandu M Shah |
85,500 |
1.42 |
|
13 |
Laxmibai Fatehchand Shah |
80,640 |
1.34 |
|
14 |
Rishikesh Fatehchand Shah |
80,340 |
1.34 |
|
15 |
Nirmala Motilal Shah |
65,000 |
1.08 |
|
16 |
Akshay Motilal Shah |
35,000 |
0.58 |
|
17 |
Karishma Pradeep Rathod |
30,000 |
0.50 |
|
18 |
Sneha Pankaj Rathod |
30,000 |
0.50 |
|
19 |
Pankajkumar Ghisulal Rathod |
20,000 |
0.33 |
|
20 |
Ghisulal Dhanraj Rathod |
20,000 |
0.33 |
|
21 |
Pradeepkumar Ghisulal Rathod |
20,000 |
0.33 |
|
22 |
Ashish Motilal Shah |
20,000 |
0.33 |
|
23 |
Rishikesh F Shah |
11,700 |
0.19 |
|
24 |
Manisha Jayesh Shah |
600 |
0.01 |
|
25 |
Cello Household Appliances Limited |
100 |
0.00 |
|
26 |
Cello Thermoware Limited |
100 |
0.00 |
|
|
Total |
45,01,236 |
75.00 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|
|
1 |
Dolly Khanna |
64752 |
1.08 |
1.08 |
|
|
2 |
DSP Blackrock Opportuniries Fund |
77668 |
1.29 |
1.29 |
|
|
3 |
Dinero Wealth Advisors Private Limited |
65133 |
1.09 |
1.09 |
|
|
4 |
Valuequest India MOAT Fund Limited |
64200 |
1.07 |
1.07 |
|
|
|
Total |
271753 |
4.53 |
4.53 |
BUSINESS DETAILS
|
Line of Business : |
Subject is carrying the manufacturing activity of Plastic Moulded Furniture, Plastic Extrusion Sheets, Moulds and Air Coolers. |
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|
|
|
Products : |
Not Available |
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|
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|
Brand Names : |
CELLO |
|
|
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|
Agencies Held : |
Not Available |
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|
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Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
498 (Approximately) |
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Bankers : |
· IDBI Bank · ICICI Bank · State Bank of India · Dena Bank · Citi Bank · HDFC Bank |
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors
: |
|
|
Name
: |
Bharat P. Shah
and Company Chartered Accountants |
|
|
|
|
Chief Internal Auditors
: |
|
|
Name
: |
Jeswani and
Rathore Chartered
Accountants |
|
Address
: |
Mumbai, Maharashtra, India |
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
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|
Related Entities : |
· Cello Writing Instruments and Containers Pvt. Ltd. · Cello Household Appliances Private Limited · Cello Pens & Stationary Private Limited · Cello Pens Private Limited · Cello International Private Limited · Cello Plastic Product Private Limited · Cello Stationary Product Private Limited · Pentek Pen and Stationary Private Limited · Cello Plast. · Cello Plastotech. · Cello World · Cello Home Products. · Cello Houseware · Cello Millenium Houseware. · Cello Industries · Cello Oral Hygiene Product. · Cello Plastic Industrial Works. · Cello Household Products · Cello Marketing · Cello Writing Aids Private Limited · Sunkist Moulders Private Limited · Vardhman Realtors |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6001680 |
Equity Shares |
Rs.10/- each |
Rs. 60.017
Million |
|
|
|
|
|
(i) There is no change in the Authorised , Issued / Subscribed and Paid up Share Capital during the financial year.
(ii) Details of Shareholders holding 5% or more shares in the Company.
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Ghisulal D.
Rathod |
462056 |
7.70% |
|
Pradeep G.
Rathod |
470000 |
7.83% |
|
Pankaj G. Rathod
|
470000 |
7.83% |
|
Pampuben G.
Rathod |
825000 |
13.75% |
|
Gaurav P. Rathod |
400000 |
6.66% |
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 |
60.017 |
60.017 |
60.017 |
|
(b) Reserves & Surplus |
1715.502 |
1449.120 |
1187.167 |
|
(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) |
1775.519 |
1509.137 |
1247.184 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
53.272 |
57.134 |
55.113 |
|
(c) Other long term liabilities |
1.277 |
1.327 |
1.377 |
|
(d) long-term provisions |
1.586 |
1.728 |
1.354 |
|
Total Non-current Liabilities (3) |
56.135 |
60.189 |
57.844 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
93.243 |
137.469 |
75.195 |
|
(c) Other current
liabilities |
121.304 |
83.912 |
80.713 |
|
(d) Short-term provisions |
83.170 |
69.016 |
60.271 |
|
Total Current Liabilities (4) |
297.717 |
290.397 |
216.179 |
|
|
|
|
|
|
TOTAL |
2129.371 |
1859.723 |
1521.207 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
864.024 |
727.251 |
706.757 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.783 |
27.265 |
17.079 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
887.807 |
754.516 |
723.836 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
515.116 |
641.586 |
391.051 |
|
(c) Trade receivables |
406.038 |
292.695 |
267.682 |
|
(d) Cash and cash
equivalents |
143.568 |
47.718 |
26.697 |
|
(e) Short-term loans and
advances |
176.842 |
123.208 |
111.941 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1241.564 |
1105.207 |
797.371 |
|
|
|
|
|
|
TOTAL |
2129.371 |
1859.723 |
1521.207 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3660.259 |
2963.706 |
2480.762 |
|
|
|
Other Income |
13.805 |
3.486 |
16.495 |
|
|
|
TOTAL (A) |
3674.064 |
2967.192 |
2497.257 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1907.853 |
1782.731 |
1571.896 |
|
|
|
Purchases of Stock-in-Trade |
535.702 |
231.505 |
189.938 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(18.631) |
(51.263) |
(96.462) |
|
|
|
Employees benefits expense |
122.886 |
100.505 |
80.835 |
|
|
|
Other expenses |
498.954 |
364.255 |
290.667 |
|
|
|
TOTAL (B) |
3046.764 |
2427.733 |
2036.874 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
627.300 |
539.459 |
460.383 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.492 |
2.153 |
1.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
625.808 |
537.306 |
459.203 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
90.154 |
90.338 |
73.463 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
535.654 |
446.968 |
385.740 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
152.092 |
121.821 |
103.202 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
383.562 |
325.147 |
282.538 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1113.582 |
884.204 |
686.139 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
19.274 |
32.575 |
28.300 |
|
|
|
Proposed Dividend |
60.017 |
54.015 |
48.013 |
|
|
|
Tax on Proposed Dividend |
12.217 |
9.181 |
8.161 |
|
|
BALANCE CARRIED
TO THE B/S |
1405.636 |
1113.582 |
884.204 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
111.045 |
63.758 |
174.384 |
|
|
|
Stores & Consumables |
0.000 |
0.186 |
0.000 |
|
|
|
Capital Goods |
127.399 |
51.006 |
51.456 |
|
|
TOTAL IMPORTS |
238.444 |
114.950 |
225.840 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
63.91 |
54.18 |
47.08 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
573.231 |
300.924 |
331.871 |
|
Net cash from operating activities |
435.874 |
180.779 |
234.476 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
10.48 |
10.97 |
11.39 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
17.14 |
18.20 |
18.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.16 |
24.03 |
25.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.30 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.17 |
3.81 |
3.69 |
STOCK
PRICES
|
Face Value |
-- |
|
Market Value |
-- |
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 |
60.017 |
60.017 |
60.017 |
|
Reserves & Surplus |
1187.167 |
1449.120 |
1715.502 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1247.184 |
1509.137 |
1775.519 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
2480.762 |
2963.706 |
3660.259 |
|
|
|
19.468 |
23.503 |
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 |
2480.762 |
2963.706 |
3660.259 |
|
Profit |
282.538 |
325.147 |
383.562 |
|
|
11.39% |
10.97% |
10.48% |
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 |
No |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
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) |
No |
|
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 |
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 |
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 |
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 |
90077670 |
13/01/2005 |
125,000,000.00 |
IDBI BANK LTD. |
MARIGOLD HOUSE ; PLOT NO. A 34, CROSS ROAD NO. 2 ; MAROL MIDC ;
ANDHERI, MUMBAI, Maharashtra - 400093, INDIA |
- |
|
2 |
90076855 |
30/08/2003 |
155,000,000.00 |
CITIBANK N.A. |
BANDRA KURLA COMPLEX, BANDRA, MUMBAI, Maharashtra |
- |
|
3 |
90077548 |
27/08/2003 |
155,000,000.00 |
CITIBANK N.A. |
BANDRA KURLA COMPLEX, BANDRA, MUMBAI, Maharashtra |
- |
|
4 |
90077357 |
04/01/2000 |
111,200,000.00 |
IDBI BANK LTD. |
224 A; MITTAL COURT ; A WING 2 FLOOR, NARIMAN POINT, MUMBAI,
Maharashtra - 400021, INDIA |
- |
|
5 |
90077239 |
31/07/1998 * |
35,276,000.00 |
INDUSTRIAL DEV. BANK OF INDIA |
IDBI TOWER ; COLABA, MUMBAI, Maharashtra - 400005, INDIA |
- |
|
6 |
90077116 |
07/12/1994 * |
5,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, KILLICK HOUSE ; CHARANJIT RAI MARG, MUMBAI,
Maharashtra - 400001, INDIA |
- |
|
7 |
90077099 |
07/12/1994 * |
14,500,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
WESTERN REGION OFFICE, NARIMAN BHAVAN ; NARIMAN POINT, BOMBAY,
Maharashtra - 400021, INDIA |
- |
* Date of charge modification
COMPANY OVERVIEW:
The company is carrying the manufacturing activity of Plastic Moulded Furniture, Plastic Extrusion Sheets, Moulds and Air Coolers having the manufacturing units at Daman, Baddi, Chennai, Haridwar and Kolkata and Corporate Office in Mumbai.
STATEMENT OF
COMPANY’S AFFAIRS:
The year 2014-15 was optimistic year for the Company’s operations with rising trends. The revenue from operations reached to ` 42328.21 lacs with increase of 24% from the last year’s revenue of ` 34082.20 lacs. The Profit After Tax reported was ` 3835.62 lacs increased by 18% from the figures of last year’s Profit After Tax of ` 3251.41 lacs.
EXPANSION PROJECTS:
In the year 2014-15 the Company has Invested ` 3000/- lacs in the Fixed Assets for the business towards the expansions with value added products of premium ranges in Plastic Furniture, for setting up world class tool room for manufacturing Moulds and the Company has started manufacturing of the AIR Coolers and planning to enter the market in coming years with variety range of the residential AIR Coolers.
FIXED ASSETS
·
Leasehold Land
· Freehold Land
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Moulds
· Office Equipment’s
·
Vehicles
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 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 Declration :
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.64.01 |
|
|
1 |
Rs.99.83 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.