MIRA INFORM REPORT
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Report No. : |
311655 |
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Report Date : |
12.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
VHM INDUSTRIES LIMITED (w.e.f.
10.09.1993) |
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Formerly Known
As : |
VHMTEX SYNTHETICS PRIVATE LIMITED |
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Registered
Office : |
220, Kewal Industrial
Estate, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.08.1987 |
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Com. Reg. No.: |
11-044506 |
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Capital
Investment / Paid-up Capital : |
Rs.234.752 million |
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CIN No.: [Company Identification
No.] |
U17100MH1987PLC044506 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV10005C |
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PAN No.: [Permanent Account No.] |
AAACV1897K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacturing and marketing of blended fabrics, pertaining to Suiting and Shirting. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
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 an
established company having satisfactory track record. General financial
position of the company is normal and acceptable for business dealing. Trade relations are
reported as fair. Business is active. Payment terms are reported to be
usually correct. The company can
be considered normal 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
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
31-03-2014.
LOCATIONS
|
Registered Office/ Corporate Office : |
220, Kewal Industrial Estate, Senapati Bapat Marg, Lower Parel (West),
Mumbai – 400 013, |
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Tel. No.: |
91-22-40788888/ 23432023 |
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Fax No.: |
91-22-40788899/ 23415629 |
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E-Mail : |
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Website : |
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Factory 1 : |
7/2, G.I.D.C., Umergaon, Valsad – 396 171, Gujarat, India |
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Tel. No.: |
91-260-2563127 |
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Factory 2 : |
106, Indian Corporation, Mankoli Naka, Near Thane Nashik
Highway, |
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Packing House 1 : |
F-2, Arihant Compound,
Karlher Village, District: Thane, Maharashtra, India |
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Packing House 2 : |
BF Building, Rajlaxmi
Compound, Karlher Village, District: Thane, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vijayraj Hirachand Mehta |
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Designation : |
Managing Director |
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Address : |
16, |
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Date of Birth/Age : |
01.02.1953 |
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Qualification : |
B.Com |
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Date of Appointment : |
09.11.2009 |
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DIN No.: |
00180586 |
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Other Directorship :
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Name : |
Mrs. Uttamben Vijayraj Mehta |
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Designation : |
Director |
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Address : |
16, |
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Date of Birth/Age : |
10.04.1957 |
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Qualification : |
Graduate |
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Date of Appointment : |
31.08.1987 |
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DIN No.: |
00322542 |
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Other Directorship :
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Name : |
Mr. Abhishek Vijayraj Mehta |
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Designation : |
Director |
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Address : |
16, |
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Date of Birth/Age : |
10.07.1976 |
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Qualification : |
B.Com |
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Date of Appointment : |
31.08.1987 |
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DIN No.: |
00397158 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Vijayraj Hirachand Mehta |
1091770 |
4.65 |
|
Vijayraj Mehta (HUF) |
101760 |
0.43 |
|
Abhishek Vijayraj Mehta |
943310 |
4.02 |
|
Uttamben Vijayraj Mehta |
1044395 |
4.45 |
|
Dhanish Vijayraj Mehta |
842930 |
3.59 |
|
Rinku Abhishek Mehta |
60000 |
0.26 |
|
Vimlaben Jayantilal Shah |
50000 |
0.21 |
|
Ashaben Babulal Shah |
50000 |
0.21 |
|
Sukiben Jawanlal Jain |
60 |
0.00 |
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Jawanlal Jain |
180 |
0.00 |
|
Dineshkumar Nemichand Jain |
180 |
0.00 |
|
VHM Apparels Private Limited, India |
3638180 |
15.50 |
|
Sweta Synthetics Private Limited, |
5051860 |
21.52 |
|
Shweta Finance and Investment
Private Limited, |
3197500 |
13.62 |
|
Nakoda Apparels Private Limited, |
2234375 |
9.52 |
|
Aadeshwar Exports Private Limited, |
2093750 |
8.92 |
|
Namah Infrastructure Private Limited, |
3075000 |
13.10 |
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Total |
23475250 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
82.17 |
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Directors
or relatives of directors |
|
17.83 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing and marketing of blended fabrics, pertaining to Suiting and Shirting. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Mid Corporate Loan Admn. Unit, Shri Hari
Building, RTO Lane, Four Bungalow, Andheri (West), Mumbai – 400 053,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
G.P. Sharma and Company Chartered Accountants |
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Address : |
D-216, Crystal Plaza, New Link Road, Andheri (West), Mumbai – 400 053,
Maharashtra, India |
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Tel. No. : |
91-22-26733728/ 26733693 |
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Fax No. : |
91-22-26743110 |
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E-Mail : |
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PAN
No.: |
AEUPS9577C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises over
which key management personnel exercise significant influence : |
·
Vijayraj H Mehta (HUF) [Director is Karta of HUF] ·
VHM International [Partnership Firm where Directors are Partners] ·
Namah Infrastructure Private Limited [One of the key Management
personnel is relative of director] ·
Sweta Synthetics Private Limited, India (CIN No.:
U17100MH1990PTC058046) [One of the key Management personnel Is relative of director]
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23500000 |
Equity Shares |
Rs.10/- each |
Rs.235.000 million |
|
|
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23475250 |
Equity Shares |
Rs.10/- each |
Rs.234.752 million |
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|
|
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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 |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
234.752 |
203.971 |
174.690 |
|
(b) Reserves & Surplus |
727.711 |
584.328 |
433.570 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2)
Share Application money pending allotment |
0.000 |
58.500 |
60.000 |
|
Total
Shareholders’ Funds (1) + (2) |
962.463 |
846.799 |
668.260 |
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
242.117 |
333.319 |
318.425 |
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(b) Deferred tax liabilities (Net) |
57.654 |
63.063 |
54.479 |
|
(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) |
299.771 |
396.382 |
372.904 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
801.097 |
886.779 |
653.399 |
|
(b) Trade payables |
554.482 |
268.210 |
288.525 |
|
(c) Other current
liabilities |
87.217 |
106.968 |
101.135 |
|
(d) Short-term provisions |
35.199 |
17.287 |
11.133 |
|
Total Current Liabilities (4) |
1477.995 |
1279.244 |
1054.192 |
|
|
|
|
|
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TOTAL |
2740.229 |
2522.425 |
2095.356 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
626.275 |
712.316 |
613.843 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
34.132 |
34.090 |
0.019 |
|
(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 |
4.724 |
4.629 |
4.963 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
665.131 |
751.035 |
618.825 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.550 |
0.550 |
|
(b) Inventories |
889.981 |
705.013 |
637.337 |
|
(c) Trade receivables |
898.349 |
798.896 |
683.698 |
|
(d) Cash and cash
equivalents |
82.321 |
40.546 |
46.784 |
|
(e) Short-term loans and
advances |
197.690 |
222.357 |
106.070 |
|
(f) Other current assets |
6.757 |
4.028 |
2.092 |
|
Total Current Assets |
2075.098 |
1771.390 |
1476.531 |
|
|
|
|
|
|
TOTAL |
2740.229 |
2522.425 |
2095.356 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3399.581 |
3047.204 |
2846.998 |
|
|
|
Other Income |
9.935 |
12.040 |
6.097 |
|
|
|
TOTAL |
3409.516 |
3059.244 |
2853.095 |
|
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|
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|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1803.273 |
1568.449 |
1643.421 |
|
|
|
Purchases of stock-in-trade |
861.302 |
688.704 |
555.573 |
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(197.614) |
(44.060) |
(16.493) |
|
|
|
Employee benefit expense |
126.324 |
105.961 |
84.023 |
|
|
|
Other expenses |
474.767 |
417.051 |
291.744 |
|
|
|
TOTAL |
3068.052 |
2736.105 |
2558.268 |
|
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|
|
|
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|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
341.464 |
323.139 |
294.827 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
137.909 |
133.912 |
141.752 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
203.555 |
189.227 |
153.075 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
88.032 |
79.381 |
71.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
115.523 |
109.846 |
81.895 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
39.858 |
36.307 |
17.947 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
75.665 |
73.539 |
63.948 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
286.114 |
212.575 |
148.627 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
361.779 |
286.114 |
212.575 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
76.252 |
83.245 |
232.214 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.45 |
3.92 |
4.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.23 |
2.41 |
2.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
10.04 |
10.60 |
10.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.27 |
4.41 |
3.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.13 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.08 |
1.44 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40 |
1.38 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Share Capital |
174.690 |
203.971 |
234.752 |
|
Reserves & Surplus |
433.570 |
584.328 |
727.711 |
|
Share Application money
pending allotment |
60.000 |
58.500 |
0.000 |
|
Net worth |
668.260 |
846.799 |
962.463 |
|
|
|
|
|
|
Long Term borrowings |
318.425 |
333.319 |
242.117 |
|
Short Term borrowings |
653.399 |
886.779 |
801.097 |
|
Total borrowings |
971.824 |
1220.098 |
1043.214 |
|
Debt/Equity ratio |
1.454 |
1.441 |
1.084 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Revenue from Operations |
2,846.998 |
3,047.204 |
3,399.581 |
|
|
|
7.032 |
11.564 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Revenue from Operations |
2,846.998 |
3,047.204 |
3,399.581 |
|
Profit |
63.948 |
73.539 |
75.665 |
|
|
2.25% |
2.41% |
2.23% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note:
The registered office of the company has been
shifted from 219/221, Zaveri Bazar, Mehta Mansion, 2nd Floor, Mumbai – 400
002, Maharashtra, India to present address w.e.f. 04.12.2008.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans
repayable on demand from others |
7.100 |
36.300 |
|
Loans and advances from directors |
22.845 |
7.176 |
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
71.318 |
5.000 |
|
Total |
101.263 |
48.476 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90223209 |
23/05/2007 * |
540,000,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION
BRANCH, RAHEJA CHAMBER, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A16849127 |
|
2 |
90225116 |
24/11/2014 * |
1,443,900,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION
BRANCH, TULSIANI CHAMBERS, NARIMAN POINT,, MUMBAI, MAHARASHTRA 400021, INDIA |
C36169936 |
|
3 |
90222734 |
01/03/1997 |
500,000.00 |
BOMBAY MERCANTILE
CO-OPERATIVE BANK LIMITED |
253; PERIN NARIMAN
STREET, ORT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
90222442 |
14/02/1995 |
7,500,000.00 |
BOMBAY MERCANTILE
CO-OPERATIVE BANK LIMITED |
BRANCHES CONTROL, 78; M.
A. ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA |
- |
|
5 |
90220184 |
29/04/1994 |
29,362,000.00 |
BOMBAY MERCANTILE
CO-OPERATIVE BANK LIMITED |
BRANCHES CONTROL, 78; M.
A. ROAD, BOMBAY, MAHARASHTRA - 400003, INDIA |
- |
|
6 |
90222295 |
26/02/1994 |
6,300,000.00 |
BOMBAY MERCANTILE
CO-OPERATIVE BANK LIMITED |
BRANCHES CONTROL, 78; M.
A. ROAD, BOMBAY, MAHARASHTRA - 400003, INDIA |
- |
|
7 |
90222231 |
23/09/1993 |
265,000.00 |
BOMBAY MERCANTILE
CO-OPERATIVE BANK LIMITED |
BRANCHES CONTROL, 78; M.
A. ROAD, BOMBAY, MAHARASHTRA - 400003, INDIA |
- |
|
8 |
90222195 |
08/04/1994 * |
2,500,000.00 |
BOMBAY MERCANTILE
CO-OPERATIVE BANK LIMITED |
BRANCHES CONTROL, 78; M.
A. ROAD, BOMBAY, MAHARASHTRA - 400003, INDIA |
- |
|
9 |
90222170 |
31/03/1993 |
6,000,000.00 |
BOMBAY MERCANTILE
CO-OPERATIVE BANK LIMITED |
BRANCHES CONTROL
DEPARTMENT, 78; M. A. ROAD, BOMBAY, MAHARASHTRA - 400003, INDIA |
- |
|
10 |
90221529 |
01/11/1988 |
1,800,000.00 |
BOMBAY MERCANTILE
CO-OPERATIVE BANK LIMITED |
BRANCHES CONTROL, 78; M.
A. ROAD, BOMBAY, MAHARASHTRA - 400003, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES NOT PROVIDED IN RESPECT OF:
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
1. Bank Guarantee |
10.994 |
14.044 |
|
2.
Guarantee given in favour of third parties |
79.492 |
82.912 |
FIXED ASSETS
·
Factory Building
·
Other than Factory Building
·
Electric Transformer
·
Fire Extinguisher
·
Weighing Scales
·
Energy Saving Device
·
Cycles
·
Plant and Machinery
·
Electrical Installation
·
Computers and Printers
·
Furniture and Fixtures
·
Vehicles
·
Office 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.62.75 |
|
|
1 |
Rs.94.60 |
|
Euro |
1 |
Rs.67.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
-- PROFITABILITY |
1~10 |
5 |
|
--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 |
|
46 |
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.