MIRA INFORM REPORT
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Report No. : |
326855 |
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Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAY WATER MANAGEMENT PRIVATE LIMITED |
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Registered
Office : |
"Jay House", Stadium Circle, Navrangpura, Ahmedabad –
380009, Gujarat |
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Tel No. : |
91-79-26561051/53 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.05.2006 |
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Com. Reg. No.: |
04-048280 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.221 Million |
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CIN No.: [Company Identification
No.] |
U29197GJ2006PTC048280 |
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TIN No.: |
Not Available |
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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 : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Solar Water Heater and Geyser. |
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No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 incorporated in the year 2006 having
satisfactory track record. Company has recorded above average financial risk profile backed by
strong net worth. Overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered for business dealing 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
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 PARTED BY
|
Name : |
Mr. Jatin Shah |
|
Designation : |
Accountant |
|
Contact No.: |
91-79-26561051 |
|
Date : |
10.06.2015 |
LOCATIONS
|
Registered Office / Head Office : |
"Jay House", Stadium Circle, Navrangpura, Ahmedabad –
380009, Gujarat, India |
|
Tel. No.: |
91-79-26561051/53 |
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Fax No.: |
91-79-26443850 |
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E-Mail : |
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Website : |
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International
Standard Warehouse and Service Center : |
Block 198/3, Dantali Industrial Estate, Gota-Vadsar Road, Lapkaman, Near Sardar Patel Ring Road, Ahmedabad, Gujarat, India |
|
Tel. No.: |
91-79-32924580 / 2764-286155 |
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Branch Offices : |
Located At
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DIRECTORS
As on 21.08.2014
|
Name : |
Mr. Pravinbhai Jyotram Patel |
|
Designation : |
Director |
|
Address : |
9-B, Sentossa Park, Behind Hira Rupa Hall, Ambli Bopal
Road, Ambli-Makarba, Ahmedabad, Gujarat, India |
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Date of Birth/Age : |
16.12.1964 |
|
Date of Appointment : |
18.05.2006 |
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DIN No.: |
00012444 |
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|
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Name : |
Mr. Gaurav Amratlal Patel |
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Designation : |
Director |
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Address : |
14, Heritage Lots, Thaltej Shilaj Road, Thaltej,
Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
01.09.1974 |
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Date of Appointment : |
18.05.2006 |
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DIN No.: |
00054742 |
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Name : |
Mr. Hasmukhbhai Joitaram Patel |
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Designation : |
Director |
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Address : |
29, Royal Crescent Thaltej, Ahmedabad - 380059, Gujarat,
India |
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Date of Birth/Age : |
01.06.1955 |
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Date of Appointment : |
18.05.2006 |
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DIN No.: |
00117464 |
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|
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Name : |
Mr. Varun Hasmukh Patel |
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Designation : |
Director |
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Address : |
29, Royal Crescent Thaltej, Ahmedabad - 380059, Gujarat,
India |
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Date of Birth/Age : |
25.07.1984 |
|
Date of Appointment : |
16.08.2012 |
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DIN No.: |
00354030 |
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|
|
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Name : |
Mrs. Hetal Hasmukhbhai Patel |
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Designation : |
Director |
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Address : |
29, Royal Crescent Thaltej, Ahmedabad - 380059, Gujarat,
India |
|
Date of Birth/Age : |
07.01.1982 |
|
Date of Appointment : |
15.02.2014 |
|
DIN No.: |
00761558 |
MAJOR SHAREHOLDERS
As on 21.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Hasmukh Joitaram Patel |
|
3100 |
|
Alok Hasmukh Patel |
|
2000 |
|
Gaurav Amratlal Patel |
|
4000 |
|
Pravin Joitaram Patel |
|
3000 |
|
Hasmukhbhai Joitaram Patel (Huf) |
|
500 |
|
Pravinbhai Joitaram Patel (Huf) |
|
900 |
|
Dhara Gaurav Patel |
|
2000 |
|
Joitaram Ramchandra Patel |
|
500 |
|
Hetal Hasmukhbhai Patel |
|
500 |
|
Joitiben Joitaram Patel |
|
500 |
|
Savitaben Hasmukhbhai Patel |
|
500 |
|
Shardaben Pravinbhai Patel |
|
500 |
|
Varun Hasmukhbhai Patel |
|
2000 |
|
Kinnari Vipul Chaudhary |
|
100 |
|
Dadhichi Pravin Patel |
|
2000 |
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Total |
|
22100 |
Equity Share Break up (Percentage of Total Equity)
As on 21.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.55 |
|
Other top fifty shareholders |
0.05 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Solar Water Heater and Geyser. |
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Products : |
Water Heater and Geyser |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT APPLICABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
35 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ambalal Patel and Company Chartered Accountants |
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Address : |
1st Floor, Sapphire Business Centre, Above SBI Vadaj Branch,
Usmanpura, Ashram Road, Ahmedabad – 380013, Gujarat, India |
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PAN No.: |
AABFA3490K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprise over which
Key Management Personnel and their relative exercise significant influence
with whom transaction have taken place during the year: |
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CAPITAL STRUCTURE
As on 21.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22100 |
Equity Shares |
Rs.10/- each |
Rs.0.221 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 |
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|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
0.221 |
0.221 |
0.221 |
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(b) Reserves & Surplus |
24.702 |
19.721 |
14.492 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’
Funds (1) + (2) |
24.923 |
19.942 |
14.713 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
8.850 |
9.022 |
13.123 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
8.850 |
9.022 |
13.123 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
7.117 |
8.814 |
7.820 |
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(b) Trade
payables |
15.463 |
27.434 |
21.084 |
|
(c) Other
current liabilities |
8.737 |
8.674 |
7.669 |
|
(d) Short-term
provisions |
2.770 |
2.959 |
3.113 |
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Total Current
Liabilities (4) |
34.087 |
47.881 |
39.686 |
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TOTAL |
67.860 |
76.845 |
67.522 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
6.963 |
9.698 |
12.136 |
|
(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) |
0.621 |
0.385 |
0.063 |
|
(d) Long-term Loan and Advances |
0.230 |
0.201 |
0.075 |
|
(e) Other
Non-current assets |
0.381 |
0.469 |
0.805 |
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Total Non-Current
Assets |
8.195 |
10.753 |
13.079 |
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
36.340 |
42.147 |
21.666 |
|
(c) Trade
receivables |
17.563 |
19.462 |
29.778 |
|
(d) Cash
and cash equivalents |
0.171 |
0.858 |
0.397 |
|
(e)
Short-term loans and advances |
4.993 |
3.218 |
2.321 |
|
(f) Other
current assets |
0.598 |
0.407 |
0.281 |
|
Total
Current Assets |
59.665 |
66.092 |
54.443 |
|
|
|
|
|
|
TOTAL |
67.860 |
76.845 |
67.522 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
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Income |
|
|
|
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Other Income |
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|
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TOTAL |
283.519 |
256.738 |
232.503 |
|
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|
|
|
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||
|
Less |
EXPENSES |
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|
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||
|
|
|
TOTAL |
273.524 |
245.755 |
221.707 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.995 |
10.983 |
10.796 |
||
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||
|
Less |
DEPRECIATION/
AMORTISATION |
2.487 |
3.140 |
1.345 |
||
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||
|
|
PROFIT/(LOSS)
BEFORE TAX |
7.508 |
7.843 |
9.451 |
||
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||
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Less |
TAX |
2.450 |
2.536 |
3.034 |
||
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||
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PROFIT/(LOSS)
AFTER TAX |
5.058 |
5.307 |
6.417 |
||
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.921 |
12.391 |
6.751 |
||
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||
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Less |
APPROPRIATIONS |
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|
||
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|
Transfer to General Reserve |
0.700 |
0.700 |
0.700 |
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|
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Dividend |
0.066 |
0.066 |
0.066 |
|
|
|
|
Tax on Dividend |
0.011 |
0.011 |
0.011 |
|
|
|
BALANCE CARRIED
TO THE B/S |
21.202 |
16.921 |
12.391 |
||
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||
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|
Earnings /
(Loss) Per Share (Rs.) |
228.86 |
240.13 |
290.36 |
||
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
350.000 |
The above information has been parted by Mr. Jatin Shah
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1.667 |
2.564 |
2.407 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income
) |
(%) |
1.78 |
2.07 |
2.76 |
|
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.17 |
10.26 |
14.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.39 |
0.64 |
|
|
|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71 |
1.02 |
1.59 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
1.38 |
1.37 |
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 |
0.221 |
0.221 |
0.221 |
|
Reserves & Surplus |
14.492 |
19.721 |
24.702 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
14.713 |
19.942 |
24.923 |
|
|
|
|
|
|
long-term borrowings |
13.123 |
9.022 |
8.850 |
|
Short term borrowings |
7.820 |
8.814 |
7.117 |
|
Current Maturities of
Long-Term Debts |
2.407 |
2.564 |
1.667 |
|
Total
borrowings |
23.350 |
20.400 |
17.634 |
|
Debt/Equity
ratio |
1.587 |
1.023 |
0.708 |
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 |
|
Total Income |
232.503 |
256.738 |
283.519 |
|
|
|
10.424 |
10.431 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
232.503 |
256.738 |
283.519 |
|
Profit |
6.417 |
5.307 |
5.058 |
|
|
2.76% |
2.07% |
1.78% |
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 |
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 |
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 four 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
From Directors |
7.950 |
4.530 |
|
From Shareholders |
0.900 |
2.825 |
|
Total |
8.850 |
7.355 |
OPERATION
The company enjoys good position in the market. The Company has recorded a turnover of Rs.283.519 Million as against Rs.256.738 Million in the previous year. The company has earned net profit after tax of Rs 5.058 Million against Rs.5.307 Million in previous year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10258629 |
07/08/2014 * |
16,500,000.00 |
Dena Bank |
Navrangpura Branch, 4 Surya Complex, Swastik Cross Road, Ahmedabad, Gujarat - 380009, India |
C26508176 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.94 |
|
|
1 |
Rs.98.27 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ART |
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 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
44 |
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.