MIRA INFORM REPORT
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Report No. : |
327909 |
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Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
GANSONS LIMITED |
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Registered
Office : |
Plot No. 157/158 A, Akbar Camp Road, Sandoz Baug, Kolshet, Thane
(West) – 400607, Maharashtra |
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Tel. No.: |
91-22-25314052 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.08.1947 |
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Com. Reg. No.: |
11-005906 |
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Capital Investment
/ Paid-up Capital : |
Rs.14.400 Million |
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CIN No.: [Company Identification
No.] |
U24110MH1947PLC005906 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKG00057B / PNEG04669A |
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PAN No.: [Permanent Account No.] |
AAACG1699Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is engaged in manufacturing machineries to the Pharmaceutical, Chemical, Food and Allied Industries etc. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Subject was incorporated in 1947 and is engaged in manufacturing machineries
to the pharmaceutical, chemical, food and allied industries etc. The rating reflects moderate financial risk profile marked by
continuous dip in the profit of the company. However, trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. T=in view of extensive experience of management, the company can be
considered for business dealings with some caution. |
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. P M Rode |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-25314052 |
|
Date : |
17.06.2015 |
LOCATIONS
|
Registered Office / Head Office / Factory 1 : |
Plot No. 157/158 A, Akbar Camp Road, Sandoz Baug, Kolshet, Thane (West)
– 400607, Maharashtra, India |
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Tel. No.: |
91-22-25314052 - 55 |
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Fax No.: |
91-22-25894003 |
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E-Mail : |
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Website : |
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Factory 2: |
Industrial Gala
No. B/18, In Osia Mata Compound, Village Kalher, Taluka -Bhiwandi, District
Thane – 421302, Maharashtra, India |
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Factory 3 : |
G – 10, MIDC Area., Hingna Industtrial Estate, Hingna Road, Nagpur –
440028, Maharashtra, India |
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Factory 4 : |
Plot No. C – 5/2, MIDC Area, Ambad, Nashik – 422010, Maharashtra,
India |
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Tel No.: |
91-253-2383352 |
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Fax No.: |
91-253-2382401 |
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Regional Offices : |
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DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Ashis Banerjee |
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Designation : |
Managing Director |
|
Address : |
“Kamal”,39, Jai –Hind, Co–operative Housing Society, JVPD, Scheme, Juhu,
Mumbai -400049, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1960 |
|
Date of Appointment : |
01.09.1997 |
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DIN No.: |
00317649 |
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Name : |
Mr. Shamaldas Jivandas Parekh |
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Designation : |
Director |
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Address : |
11/195, “Parvati”, Station Avenue Road, D.K. Sandu Marg, Chembur,
Mumbai-400071, Maharashtra, India |
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Date of Birth/Age : |
20.01.1923 |
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Date of Appointment : |
14.09.1967 |
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DIN No.: |
00317504 |
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Name : |
Mr. Subroto Banerjee |
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Designation : |
Director |
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Address : |
3203, Ivory Creek, San Antonio, TX – 78258, USA |
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Date of Birth/Age : |
18.11.1964 |
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Date of Appointment : |
29.12.2003 |
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DIN No.: |
00989283 |
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Name : |
Dr. Kalimohan Bhattacharya |
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Designation : |
Director |
|
Address : |
Building No. 11 D, Flat No. 703, Spring Leaf, Lokhandwala Township,
Akurli Road, Kandivali (East), Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
04.12.1938 |
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Date of Appointment : |
20.02.2007 |
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DIN No.: |
00318457 |
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Name : |
Mr. Kavan Jagdish Mukhtyar |
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Designation : |
Additional Director |
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Address : |
1409, Magnum Tower, 2nd Cross Road, Lokhandwala Complex,
Lokhandwala Complex, Andheri (West), Mumbai-400053, Maharashtra, India |
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Date of Birth/Age : |
18.01.1973 |
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Date of Appointment : |
05.12.2011 |
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DIN No.: |
00501595 |
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Name : |
Mr. Mahesh Khatri |
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Designation : |
Additional Director |
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Address : |
Arunanjail, Plot No 40, 11th 12th Cross
Road, JVPD, Scheme, Vile Parle (West), Mumbai - 400049, Maharashtra,
India |
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Date of Birth/Age : |
20.09.1960 |
|
Date of Appointment : |
12.06.2014 |
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DIN No.: |
00431604 |
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Name : |
Mr. Shyam Nagorao Khante |
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Designation : |
Additional Director |
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Address : |
104, Clarinet, Nyati Windchimes, Near Corianthian, Club,
Off Nibm Road, Pune - 411060,
Maharashtra, India |
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Date of Birth/Age : |
25.11.1952 |
|
Date of Appointment : |
12.06.2014 |
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DIN No.: |
06918122 |
KEY EXECUTIVES
|
Name : |
Mr. P M Rode |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 29.09.2014
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Public financial
companies |
3.13 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.07 |
|
Bodies corporate |
35.57 |
|
Directors or relatives of Directors |
53.68 |
|
Other top fifty shareholders |
6.91 |
|
Others |
0.64 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in manufacturing machineries to the Pharmaceutical, Chemical, Food and Allied Industries etc. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 : |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
N.S. Gokhale and Company Chartered Accountant |
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Address : |
104, Siddharth Darshan, 1st Floor, Dada Patil Wadi, Dada Patil
Marg, Thane – 400607, India |
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PAN No.: |
AAAFN1445J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
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CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1925000 |
Equity Shares |
Rs.10/- each |
Rs.19.250 Million |
|
75000 |
Preference Shares |
Rs.10/- each |
Rs.0.750 Million |
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Total |
|
Rs.20.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1440000 |
Equity Shares |
Rs.10/- each |
Rs.14.400
Million |
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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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(1)Shareholders' Funds |
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|
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(a) Share Capital |
14.400 |
14.400 |
14.400 |
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(b) Reserves & Surplus |
180.772 |
178.590 |
165.476 |
|
(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) |
195.172 |
192.990 |
179.876 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
12.802 |
12.373 |
13.128 |
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(b) Deferred tax liabilities (Net) |
8.824 |
8.700 |
9.227 |
|
(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) |
21.626 |
21.073 |
22.355 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
95.565 |
131.177 |
104.666 |
|
(b) Trade
payables |
93.695 |
95.545 |
85.333 |
|
(c) Other current
liabilities |
4.633 |
7.227 |
3.454 |
|
(d) Short-term
provisions |
84.513 |
87.840 |
59.076 |
|
Total Current
Liabilities (4) |
278.406 |
321.789 |
252.529 |
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TOTAL |
495.204 |
535.852 |
454.760 |
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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 |
72.403 |
73.822 |
70.903 |
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(ii)
Intangible Assets |
0.888 |
1.089 |
0.761 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
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(e) Other Non-current
assets |
0.000 |
0.000 |
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Total Non-Current
Assets |
73.291 |
74.911 |
71.664 |
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(2)
Current assets |
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|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
168.109 |
192.688 |
146.998 |
|
(c) Trade
receivables |
79.663 |
70.339 |
79.280 |
|
(d) Cash
and cash equivalents |
45.978 |
88.008 |
73.604 |
|
(e)
Short-term loans and advances |
127.422 |
109.427 |
82.758 |
|
(f) Other
current assets |
0.741 |
0.479 |
0.456 |
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Total
Current Assets |
421.913 |
460.941 |
383.096 |
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TOTAL |
495.204 |
535.852 |
454.760 |
PROFIT
& LOSS ACCOUNT
|
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PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
768.306 |
722.908 |
634.525 |
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Other Income |
30.204 |
11.575 |
16.354 |
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TOTAL (A) |
798.510 |
734.483 |
650.879 |
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Less |
EXPENSES |
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Cost of Materials Consumed |
499.980 |
480.022 |
380.316 |
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Purchase of Stock-in-trade |
0.000 |
0.000 |
1.153 |
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Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
19.132 |
(36.104) |
(6.992) |
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Employee Benefits Expenses |
153.847 |
140.286 |
138.867 |
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Other Expenses |
97.366 |
103.405 |
83.918 |
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TOTAL (B) |
770.325 |
687.609 |
597.262 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
28.185 |
46.874 |
53.617 |
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Less |
FINANCIAL
EXPENSES (D) |
15.177 |
16.133 |
19.359 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
13.008 |
30.741 |
34.258 |
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Less |
DEPRECIATION/
AMORTISATION (F) |
5.401 |
4.917 |
4.476 |
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PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
7.607 |
25.824 |
29.782 |
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Less |
TAX (H) |
3.190 |
10.477 |
12.281 |
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PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
4.417 |
15.347 |
17.501 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11.020 |
7.357 |
11.53 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
7.500 |
10.000 |
20.000 |
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Dividend |
1.440 |
1.440 |
1.440 |
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Tax on Dividend |
0.245 |
0.244 |
0.234 |
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BALANCE CARRIED
TO THE B/S |
6.252 |
11.020 |
7.357 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
132.800 |
122.000 |
24.830 |
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TOTAL EARNINGS |
132.800 |
122.000 |
24.830 |
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IMPORTS |
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Raw Materials |
1.855 |
0.000 |
2.402 |
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Stores & Spares |
107.143 |
114.806 |
74.588 |
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TOTAL IMPORTS |
108.998 |
114.806 |
76.990 |
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Earnings /
(Loss) Per Share (Rs.) |
3.07 |
10.66 |
12.15 |
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Particulars |
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|
31.03.2015 |
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Sales Turnover |
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|
850.000 |
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The above information has been parted by Mr. P M Rode.
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.57 |
2.12 |
2.76 |
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Operating Profit Margin (PBIDT/Sales) |
(%) |
3.67 |
6.48 |
8.45 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.54 |
4.82 |
6.55 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.13 |
0.17 |
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Debt Equity Ratio (Total Debt /Networth) |
|
0.56 |
0.74 |
0.65 |
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Current Ratio (Current Asset/Current Liability) |
|
1.52 |
1.43 |
1.52 |
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 |
14.400 |
14.400 |
14.400 |
|
Reserves & Surplus |
165.476 |
178.590 |
180.772 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
179.876 |
192.990 |
195.172 |
|
|
|
|
|
|
long-term borrowings |
13.128 |
12.373 |
12.802 |
|
Short term borrowings |
104.666 |
131.177 |
95.565 |
|
Total borrowings |
117.794 |
143.550 |
108.367 |
|
Debt/Equity ratio |
0.655 |
0.744 |
0.555 |
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 |
634.525 |
722.908 |
768.306 |
|
|
|
13.929 |
6.280 |
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 |
634.525 |
722.908 |
768.306 |
|
Profit |
17.501 |
15.347 |
4.417 |
|
|
2.76% |
2.12% |
0.57% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
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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) |
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
|
|
|
Deposit from Public |
10.579 |
10.579 |
|
SHORT TERM BORROWINGS |
|
|
|
Loan from Director |
0.000 |
0.300 |
|
Total |
10.579 |
10.879 |
GENERAL
INFORMATION:
Subject was incorporated on 19.08.1947. It is mainly engaged in the manufacture of Plant and Machinery for Pharmaceutical, Chemical, Food and Allied Industries for over 67 years. The Company has achieved net sales of
Rs.768.306 Million during the year as compared to Rs.722.908 Million in the previous year. The Company has earned a profit of Rs.4.417 Million in the year as compared to profit of Rs.15.347 Million in the previous year. The Company has no foreign investment or collaboration.
FINANCIAL RESULTS
During the year
the Company achieved Sales of Rs.768.300 Million as against the sales of Rs.722.900 Million for the previous
year. The Company has earned a Profit of Rs.4.400 Million for the year as compared
to a profit of Rs.15.300 Million in the previous year.
Even though the
sales have increased by 6%, the profits are lower than previous year on account
of heavy losses suffered by the Nagpur Unit & Nasik Unit of the Company.
The Board of directors will be taking corrective steps in the current year to
improve the situation.
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90151829 |
09/10/1994 |
116,200,000.00 |
THE STATE BANK OF INDIA |
DADAR, BOMBAY, MAHARASHTRA - 400014, INDIA |
- |
|
2 |
90150295 |
27/01/2012 * |
364,900,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, "BULLET BUILDING", L N ROAD,
D |
B34819805 |
|
3 |
90151828 |
20/01/2005 * |
116,200,000.00 |
STATE BANK OF INDIA |
DADAR BRANCH, MUMBAI, MAHARASHTRA - 400014, INDIA |
- |
|
4 |
90230818 |
26/12/2005 * |
116,200,000.00 |
STATE BANK OF INDIA |
DADAR, MUMBAI, MAHARASHTRA - 400014, INDIA |
- |
|
5 |
90150238 |
25/04/1995 * |
6,200,000.00 |
BANK OF INDIA |
NEJAJI SUBASH ROAD, CALCUTTA, WEST BENGAL - 700001 |
- |
|
6 |
90150206 |
01/07/2002 * |
8,000,000.00 |
INDUSTRIAL INVESTMENT BANK OF INDIA |
EARNEST HOUSE, 11TH FLOOR; 194 NARIMAN POINT, BOM |
- |
|
7 |
90151790 |
06/12/2001 * |
8,000,000.00 |
BANK OF INDIA |
19; NETAJI SUBASH MARG, BOMBAY, MAHARASHTRA - 4000 |
- |
|
8 |
90150130 |
15/02/1989 |
954,000.00 |
STATE BANK OF INDIA |
DADAR BRANCH, BOMBAY, MAHARASHTRA - 400014, INDIA |
- |
|
9 |
90151768 |
23/12/1988 |
937,096.00 |
STATE BANK OF INDIA |
DADAR BRANCH, MUMBAI, MAHARASHTRA - 400014, INDIA |
- |
|
10 |
90150120 |
21/09/1988 |
932,000.00 |
STATE BANK OF INDIA |
DADAR BRANCH, BOMBAY, WEST BENGAL - 400014, INDIA |
- |
*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.64.11 |
|
|
1 |
Rs.100.31 |
|
Euro |
1 |
Rs.72.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
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 |
|
33 |
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.