MIRA INFORM REPORT
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Report No. : |
325994 |
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Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
PHENIX BUILDING SOLUTIONS
PRIVATE LIMITED |
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|
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Registered
Office : |
M. B. House, 51, Chandroday Society, Opposite Golden Triangle, Stadium
Road, Ahmedabad – 380014, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.11.2007 |
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Com. Reg. No.: |
04-052112 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
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CIN No.: [Company Identification
No.] |
U45201GJ2007PTC052112 |
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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.] |
AAECP4638G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in infrastructure development. Its services include
engineering services, turnkey solutions, manufacturing, erection and final
installation. |
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|
|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 an established
company having satisfactory track record. For the financial
year ended 2014, the company possesses average operational performance and it
has reported dip in its sales turnover growth during a year under a review.
However, company has maintained profitability margins at 1.45%. Rating also takes
into consideration company’s sound financial risk profile and above average
networth base and favorable gap between trade receivable to its payable. Trade relations
are fair. Business is active. Payment terms are reported to be usually
correct. In view of sound
financial base, the company can be considered for business dealings at usual
trade terms and condition. |
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 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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 DECLINED BY
|
Name : |
Mr. Mahesh |
|
Designation : |
Manager |
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Contact No.: |
91-9930937921 |
|
Date : |
08.06.2015 |
LOCATIONS
|
Registered Office : |
M. B. House, 51, Chandroday Society, Opposite Golden Triangle, Stadium
Road, Ahmedabad – 380014, Gujarat, India |
|
Tel. No. : |
91-79-26405563/ 26461314 |
|
Mobile No.: |
91-9930937921 [Mr. Mahesh] |
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Fax No. : |
91-79-26400828 |
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E-Mail : |
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Website : |
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Factory : |
30 P, Village Naranpura, Taluka Sanand, District Ahmedabad - 382213, Gujarat, India |
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Tel. No. : |
91-2717-612500 |
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Fax No. : |
91-2717-612501 |
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E-Mail : |
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Sales Offices : |
Located at: · Ahmedabad · Bangalore · Chennai · Delhi · Hyderabad · Indore · Kolkata · Mumbai · Pune ·
Vadodara |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Chirag Hasmukhbhai Patel |
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Designation : |
Director |
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Address : |
7, Friends Colony, Naranpura, Ahmedabad – 380 013, Gujarat, India |
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Date of Birth/Age : |
26.03.1971 |
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Date of Appointment : |
02.11.2007 |
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DIN No. : |
00260514 |
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PAN No.: |
AEHPP8762P |
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Other Directorship :
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Name : |
Mr. Malav Girishbhai Patel |
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Designation : |
Director |
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Address : |
7, Friends Colony, Naranpura, Ahmedabad – 380 013, Gujarat, India |
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Date of Birth/Age : |
20.10.1976 |
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Date of Appointment : |
01.10.2008 |
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DIN No. : |
00260602 |
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PAN No.: |
AEPPP4861H |
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Other Directorship :
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Name : |
Mr. Vipinbhai Kantilal Patel |
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Designation : |
Director |
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Address : |
2, Nandanvan, Near Shyam Vihar Bunglow, Thaltej-Shilaj Road, Ahmedabad
– 380 051, Gujarat, India |
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Date of Birth/Age : |
17.03.1948 |
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Date of Appointment : |
02.11.2007 |
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DIN No. : |
00260734 |
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PAN No.: |
AEQPP4916C |
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Other Directorship :
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Name : |
Mr. Hasmukbhai Shivabhai Patel |
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Designation : |
Director |
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Address : |
7, Friends Colony, Naranpura, Ahmedabad – 380 013, Gujarat, India |
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Date of Birth/Age : |
24.09.1935 |
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Date of Appointment : |
01.10.2008 |
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DIN No. : |
00260955 |
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PAN No.: |
ACVPP7829F |
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Other Directorship :
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Name : |
Mr. Girishbhai Manibhai Patel |
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Designation : |
Director |
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Address : |
7, Friends Colony, Naranpura, Ahmedabad – 380 013, Gujarat, India |
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Date of Birth/Age : |
31.08.1947 |
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Date of Appointment : |
01.10.2008 |
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DIN No. : |
00261624 |
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PAN No.: |
AAWPP1120E |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Mahesh |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
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No. of Shares |
|
Vipinbhai Kantilal Patel |
|
2500 |
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Chirag Hasmukhbhai Patel |
|
10500 |
|
Leenaben V. Patel |
|
1000 |
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Aditya V. Patel |
|
1500 |
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Manibhai Shivabhai Patel |
|
7000 |
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Hasmukbhai Shivabhai Patel |
|
7000 |
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Girishbhai Manibhai Patel |
|
6500 |
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Umaben G. Patel |
|
2000 |
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Birvaben C. Patel |
|
5000 |
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Malav Girishbhai Patel |
|
7000 |
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Total |
|
50000 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in infrastructure development. Its services
include engineering services, turnkey solutions, manufacturing, erection and final
installation. |
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Products/ Services : |
·
Engineering
Services · Turnkey Solutions |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Talati and Talati Chartered Accountants |
|
Address : |
Ambica Chambers, Near Old High Court,
Navrangpura, Ahmedabad – 380 009, Gujarat, India |
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PAN
No.: |
AAAFT4520A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Group Companies : |
· M&B Engineering Limited ·
M&B Construction ·
M&B Sleeper ·
M&B Enterprise |
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|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
·
M B Enterprises, India ·
Highten Steels, India ·
Manibhai Brothers, India ·
Manibhai Brothers Finance Corporation,
India ·
Phenix Construction Technologies, India |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Million |
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|
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|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
30.478 |
26.400 |
22.832 |
|
(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) |
30.978 |
26.900 |
23.332 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.213 |
0.172 |
0.118 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.213 |
0.172 |
0.118 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
57.695 |
63.726 |
69.271 |
|
(b) Trade
payables |
203.434 |
295.373 |
271.443 |
|
(c) Other
current liabilities |
88.024 |
59.989 |
125.497 |
|
(d) Short-term
provisions |
1.987 |
1.680 |
1.348 |
|
Total Current
Liabilities (4) |
351.140 |
420.768 |
467.559 |
|
|
|
|
|
|
TOTAL |
382.331 |
447.840 |
491.009 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2.110 |
2.222 |
2.339 |
|
(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 |
4.216 |
3.804 |
3.958 |
|
(e) Other
Non-current assets |
0.025 |
0.025 |
0.025 |
|
Total Non-Current
Assets |
6.351 |
6.051 |
6.322 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.993 |
8.429 |
14.021 |
|
(c) Trade
receivables |
310.275 |
359.675 |
373.125 |
|
(d) Cash
and cash equivalents |
44.398 |
54.108 |
81.079 |
|
(e)
Short-term loans and advances |
18.314 |
19.577 |
16.462 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
375.980 |
441.789 |
484.687 |
|
|
|
|
|
|
TOTAL |
382.331 |
447.840 |
491.009 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
635.200 |
919.200 |
1229.500 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
15.121 |
20.437 |
21.520 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST |
9.449 |
14.310 |
10.996 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.672 |
6.127 |
10.524 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.118 |
0.117 |
0.116 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5.554 |
6.010 |
10.408 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.475 |
2.442 |
3.182 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
4.079 |
3.568 |
7.226 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
26.400 |
22.832 |
15.606 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
30.479 |
26.400 |
22.832 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
81.58 |
71.36 |
NA |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.45 |
1.34 |
2.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.22 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.86 |
2.37 |
2.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
1.05 |
1.04 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
22.832 |
26.400 |
30.478 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
23.332 |
26.900 |
30.978 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
69.271 |
63.726 |
57.695 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
69.271 |
63.726 |
57.695 |
|
Debt/Equity ratio |
2.969 |
2.369 |
1.862 |
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) |
|
Turnover |
1229.500 |
919.200 |
635.200 |
|
|
|
-25.238 |
-30.896 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
1229.500 |
919.200 |
635.200 |
|
Profit |
7.226 |
3.568 |
4.079 |
|
|
0.59% |
0.39% |
0.64% |
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 |
|
|
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 |
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: NO
CHARGES EXISTS FOR COMPANY.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Deposits from shareholders |
57.695 |
63.726 |
|
|
|
|
|
Total |
57.695 |
63.726 |
OPERATIONS:
The turnover of the Company stood at Rs.635.200 millions during the year
2013-14 against Rs.919.200 millions for the year 2012-13.
During the year, Profit before Interest, Depreciation and Tax was 15.121
millions as compared to profit of Rs.20.437 millions for the year 2012-13.The
net profit for the year stood at Rs.4.078 millions as compared to profit of
Rs.3.568 millions for the year 2012-13. After bringing forward the opening
balance of Statement of Profit and Loss of Rs.26.400 millions, the Balance
carried to Balance Sheet stood at Rs.30.479 millions.
The Company foresees a very bright future of its product Pre-Engineered
Metal Buildings.
FIXED ASSETS
·
Plant and Equipment
·
Office Equipment
·
Other Equipments
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. 64.11 |
|
|
1 |
Rs. 97.84 |
|
Euro |
1 |
Rs. 71.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
-- PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
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 |
|
43 |
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.