MIRA INFORM REPORT
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Report No. : |
321521 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
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Registered
Office : |
Survey No. 174/1, Kanadi Road, Naroli Village, Silvasa, Union Territory of Dadra and Nagar Haveli, Silvasa - 396235, Dadar Nagar Haveli |
|
Tel. No.: |
91-260-2650868 |
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Country : |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.08.1972 |
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Com. Reg. No.: |
000456 [NEW] 11-015935 [OLD] |
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Capital
Investment / Paid-up Capital : |
Rs.11.984 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U29191DN1972PTC000456 [NEW] U29191MH1972PTC015935 [OLD] |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMW02349E |
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PAN No.: [Permanent Account No.] |
AAACW0012H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Commercial Refrigeration, Hot and Cold
Vending Machines and Ice Machines etc. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3420000 |
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|
Status : |
Satisfactory |
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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 satisfactory track record. The company has incurred a loss from its operations during 2014.
However, general financial position of the company seems to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits = BBB- |
|
Rating Explanation |
Have moderate degree of safety and moderate
credit risk. |
|
Date |
November, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limits = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk |
|
Date |
November, 2014 |
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.
INFORMATION PARTED BY
|
Name : |
Ms. Sadhna |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-22-67161215 |
|
Date : |
08.05.2014 |
LOCATIONS
|
Registered Office / Factory 1 : |
Survey No. 174/1, Kanadi Road, Naroli Village, Silvasa, Union Territory of Dadra and Nagar Haveli, Silvasa - 396235, Dadar Nagar Haveli, India |
|
Tel. No.: |
91-260-2650868 |
|
Fax No.: |
91-260-2650769 |
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E-Mail : |
rashmisamal@westernequipments.com |
|
Website : |
|
|
Area : |
7000 sq.ft |
|
Location : |
Owned |
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|
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Head office 1 : |
Krishna Mills Compound , close to Asian paints, L B S Marg, Behind Sonapur, Bhandup, Mumbai – 400 078, Maharashtra, India |
|
Tel. No.: |
91-22-25964497 / 25662235 67161200 / 1201 / 67161215 / 67161330 /
25607610 / 25622241 |
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Fax No.: |
91-22-67698108 /
67161294/25962257/25962275 |
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E-Mail : |
mumbai@westernequipments.com
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Factory 2 : |
Plot No. 288, |
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Area: |
5 Acre |
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Location : |
Owned |
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Head office 2 : |
7-B, Pannalal Silk Mill compound,
78 LBS Marg, Bhandup (West), Mumbai-400078, Maharashtra, India |
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Factory 3 : |
Survey No. 174 / 1 Road, |
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Location : |
Owned |
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Branches : |
Located at:
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DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Harmeet Singh Bhupender Singh Machre |
|
Designation : |
Managing Director |
|
Address : |
51 MICASA, Central Avenue, Santacruz (West), Mumbai - 400054, Maharashtra, India |
|
Date of Birth/Age : |
05.03.1972 |
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Date of Appointment : |
28.03.2009 |
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PAN No.: |
AAFPM0355D |
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DIN No.: |
00084003 |
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|
|
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Name : |
Mr. Parmeet Singh Bhupinder Singh Machre |
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Designation : |
Whole Time Director |
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Address : |
51, Micasa, Centrqal Avenue, Santacruz (West), Mumbai-400054, Maharashtra, India |
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Date of Birth/Age : |
21.11.1973 |
|
Date of Appointment : |
15.12.1993 |
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PAN No.: |
AADPM5659A |
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DIN No.: |
00114467 |
|
Name : |
Shabbir Firoz Shafiqui |
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Designation : |
Director |
|
Address : |
221,Bora Bazar St, 4th Flr, Flt 15, Fort,, Mumbai - 400001, Maharashtra, India |
|
Date of Birth/Age : |
11.07.1962 |
|
Date of Appointment : |
23.01.2013 |
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PAN No.: |
AFZPS1740R |
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DIN No.: |
06464131 |
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|
|
|
Name : |
Akira Kamiya |
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Designation : |
Director |
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Address : |
201 Vancouer 1105,, 5-26 Meitou Hondori, Meitou - Ku, Nagoya, Aichi, Na, Japan |
|
Date of Birth/Age : |
04.03.1965 |
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Date of Appointment : |
23.01.2013 |
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PAN No.: |
CUZPK3990E |
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DIN No.: |
06477584 |
KEY EXECUTIVES
|
Name : |
Rashmi Ranjan Samal |
|
Designation : |
Secretary |
|
Address : |
G-4, A Wing, Shivlok CHS, Sector 2, Airoli, Navi Mumbai - 400078, Maharashtra, India |
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Date of Birth/Age : |
20.06.2975 |
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Date of Appointment : |
20.12.2012 |
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PAN No.: |
AUTPS1416P |
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|
|
|
Name : |
Ms. Sadhna |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Machre Gopalsingh Bhupindersingh |
|
1 |
|
Parmeet Singh B, Machre HUF |
|
65000 |
|
Harmeet Singh B. Machre HUF |
|
65000 |
|
Master Aviraj H. Singh |
|
99777 |
|
Master Paviraj P. Singh |
|
99777 |
|
Rupa A. Sahani |
|
40059 |
|
Gunveen A. Sahani |
|
20000 |
|
Saneesha A. Sahani |
|
20000 |
|
Master Rajveer H. Singh |
|
94722 |
|
Master Paramraj P. Singh |
|
94722 |
|
Hoshizaki Electric Company Limited, Japan |
|
599298 |
|
Total |
|
1198356 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Commercial Refrigeration, Hot and Cold
Vending Machines and Ice Machines etc. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
All over the world |
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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, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
Canara Bank, Worli Branch, Marthanda Building, Dr. A. B. Road, Worli,, Mumbai - 400018, Maharashtra, India IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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PAN No.: |
AACFD4815A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company
: |
Hoshizaki Electric Company Limited |
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Subsidiary Company
: |
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Fellow Subsidiary Company |
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Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their
relatives |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Million |
|
10,000 |
Preference Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
Total |
|
Rs.60.100
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,198,356 |
Equity Shares |
Rs.10/- each |
Rs.11.984 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 |
11.984 |
11.984 |
9.981 |
|
(b) Reserves & Surplus |
1185.774 |
1236.425 |
672.993 |
|
(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) |
1197.758 |
1248.409 |
682.974 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
467.333 |
19.825 |
41.994 |
|
(b) Deferred tax liabilities (Net) |
37.806 |
56.923 |
53.554 |
|
(c) Other long term
liabilities |
3.051 |
2.392 |
3.285 |
|
(d) long-term
provisions |
6.455 |
4.120 |
2.050 |
|
Total Non-current
Liabilities (3) |
514.645 |
83.260 |
100.883 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
723.467 |
530.752 |
543.583 |
|
(b) Trade
payables |
998.207 |
802.887 |
751.689 |
|
(c) Other
current liabilities |
119.281 |
108.756 |
178.286 |
|
(d) Short-term
provisions |
1.875 |
14.485 |
31.140 |
|
Total Current
Liabilities (4) |
1842.830 |
1456.880 |
1504.698 |
|
|
|
|
|
|
TOTAL |
3555.233 |
2788.549 |
2288.555 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
898.456 |
498.448 |
412.739 |
|
(ii)
Intangible Assets |
6.789 |
4.134 |
3.056 |
|
(iii)
Capital work-in-progress |
131.413 |
27.039 |
8.446 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.218 |
58.916 |
59.067 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
97.049 |
52.772 |
48.016 |
|
(e) Other Non-current
assets |
35.980 |
132.677 |
109.520 |
|
Total Non-Current
Assets |
1169.905 |
773.986 |
640.844 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1087.865 |
967.749 |
879.934 |
|
(c) Trade
receivables |
941.590 |
896.023 |
652.576 |
|
(d) Cash
and cash equivalents |
213.310 |
53.378 |
44.593 |
|
(e)
Short-term loans and advances |
126.721 |
89.175 |
63.784 |
|
(f) Other
current assets |
15.842 |
8.238 |
6.824 |
|
Total
Current Assets |
2385.328 |
2014.563 |
1647.711 |
|
|
|
|
|
|
TOTAL |
3555.233 |
2788.549 |
2288.555 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
|
Income |
4250.422 |
3845.423 |
3061.775 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4250.422 |
3845.423 |
3061.775 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
4124.421 |
3732.303 |
2983.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
EXCEPTIONAL ITEM AND TEX |
126.001 |
113.120 |
78.341 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL ITEM |
167.628 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(41.628) |
113.120 |
78.341 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.023 |
47.685 |
28.723 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(50.651) |
65.435 |
49.618 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
668.230 |
602.795 |
553.177 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
668.230 |
668.230 |
602.795 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1040.825 |
736.583 |
384.304 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(42.27) |
54.21 |
NA |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
4000.000 |
Expected Sales ( 2015-2016 ) : Rs.5000.000 Million
The above information has been parted by Ms. Sadhna
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.22) |
4.19 |
3.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03) |
0.09 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.99 |
0.44 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29 |
1.38 |
1.10 |
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 |
9.981 |
11.984 |
11.984 |
|
Reserves & Surplus |
672.993 |
1236.425 |
1185.774 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
682.974 |
1248.409 |
1197.758 |
|
|
|
|
|
|
long-term borrowings |
41.994 |
19.825 |
467.333 |
|
Short term borrowings |
543.583 |
530.752 |
723.467 |
|
Total borrowings |
585.577 |
550.577 |
1190.800 |
|
Debt/Equity ratio |
0.857 |
0.441 |
0.994 |
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 |
3061.775 |
3845.423 |
4250.422 |
|
|
|
25.595 |
10.532 |
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 |
3061.775 |
3845.423 |
4250.422 |
|
Profit/Loss |
49.618 |
65.435 |
(50.651) |
|
|
1.62% |
1.70% |
(1.19%) |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Other external
commercial borrowings |
462.768 |
0.000 |
|
Short Term Borrowings |
|
|
|
Working capital from banks |
316.970 |
190.085 |
|
Total |
779.738 |
190.085 |
FINANCIAL
HIGHLIGHTS
The Company's performance in the year 2013-14 was marked with good sales. The total revenue of the company has risen to Rs. 4250.422 Million as against the corresponding figure of Rs. 3845.423 Million in earlier year. However the Company has made provision for diminution in value of investments of Rs. 58.698 Million and in doubtful long term trade receivables of Rs. 108.931 Million in its subsidiary company M/s. Haikawa Industries Private Limited and the same is reported as exceptional items.
The Company has been able to earn Profit after Tax of Rs. 79.952 Million as against the last year figure of Rs. 64.964 Million.
OPERATIONS REVIEW
To cater to the demand in busy season, Company has set up new factory at Sanjan, Gujrat at capex of Rs. 620.000 Million with installed capacity of 330,000 units and capacity of their existing two factories are 180,000 (Shahpur - 96,000 and Silvasa - 84,000). Company has already started production of visi coolers and freezers from its new factory.
The Company has shifted its registered office from Mumbai, State of Maharashtra to Silvasa, Union Territory of Dadra and Nagar Haveli.
Note :
The registered office of the company has been shifted from 7-B, Pannalal
Silk Mill compound, 78 LBS Marg,
Bhandup (West), Mumbai-400078, Maharashtra, India to the present address.
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10313281 |
10/04/2012 * |
1,020,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA |
B38597050 |
|
2 |
10177292 |
25/09/2009 * |
50,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA |
A71300529 |
|
3 |
10074918 |
16/03/2009 * |
350,000,000.00 |
CANARA BANK |
WORLI BRANCH, MARTHANDA BUILDING,, DR. A. B. ROAD |
A59887489 |
|
4 |
10074920 |
16/03/2009 * |
350,000,000.00 |
CANARA BANK |
WORLI BRANCH, MARTHANDA BUILDING,, DR. A. B. ROAD |
A59888032 |
|
5 |
80023962 |
04/04/2006 |
100,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LTD |
IDBI TOWER, CUFFE PARADE, WTC COMPLEX, COLABA, MU |
- |
|
6 |
90163961 |
10/04/2012 * |
65,000,000.00 |
CANARA BANK |
WORLI BRANCH, MARTHANDA BUILDING, DR. A.B. ROAD, |
B44212637 |
|
7 |
90163522 |
31/03/1997 |
392,000.00 |
MASHREQ BANK |
912; TULSISNI CHAMBERS, NARIMAN POINT, MUMBAI, MA |
- |
|
8 |
90163387 |
27/06/1996 |
32,000,000.00 |
CANARA BANK |
WORIL, MUMBAI, MAHARASHTRA, INDIA |
- |
|
9 |
90160896 |
15/05/2010 * |
485,000,000.00 |
CANARA BANK |
WORLI BRANCH, MARTHANDA BUILDING,, DR.A.B.ROAD, W |
A86498441 |
* Date of modification charge
FIXED ASSETS:
·
·
·
Office Premises
·
Shop Premises
·
Residential Flats
·
Plant and Machinery
·
Dies Moulds and Tools
·
Office Equipment’s
·
Weight and Scales
·
Vehicles
·
Furniture and Fittings
·
Air Conditioners
·
Cycle
·
Computers
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.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
|
--PROFITABILIRY |
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 |
|
45 |
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.