MIRA INFORM REPORT
|
Report No. : |
348131 |
|
Report Date : |
02.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHEM-PROCESS SYSTEMS PRIVATE LIMITED |
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|
|
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Registered
Office : |
15, Natraj Industrial Estate, Vasna-Iyava, Sanand, Ahmedabad – 382170,
Gujarat |
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Tel. No.: |
91-2717-284194/ 284148-49 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.05.2000 |
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Com. Reg. No.: |
04-037990 |
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Capital
Investment / Paid-up Capital : |
Rs.11.427 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U29230GJ2000PTC037990 |
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IEC No.: |
0801004608 |
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TIN No.: |
24074600707 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC00660C |
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PAN No.: [Permanent Account No.] |
AABCC5915A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Pressure Vessel, Heat Exchanger, Surface
Condensers, Steam Jet Ejectors and Vacuum Systems, Multiple Effect
Evaporation Plant, Crystallizers, Salt Recovery Plants, etc. |
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|
|
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
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 was incorporated in 2000. The company is promoted by Mr.
Jayesh Parikh and Mr. Pradeep Ravtani. It has a production facility in Ahmedabad
(Gujarat). The company provides process solutions, equipment and fabrication
of various products such as heat exchangers, ejectors, condensers, heaters,
vessels, zero liquid and effluent discharge of systems. It has satisfactory
track record. The company possesses a decent profile marked by adequate networth
base along with fair liquidity and profitability. Trade relations are fair. Business is active. Payments are reported to
be usually correct. The company can be considered 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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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 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BBB- [Suspended] |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
28.08.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A3 [Suspended] |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
28.08.2015 |
Reason for Suspension:
The suspension of ratings is on account of
non-cooperation by company with CRISIL’s efforts to undertake a review of the
ratings outstanding.
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Anil Sharma |
|
Designation : |
Accountant |
|
Contact No.: |
91-2717-284194 |
|
Date : |
31.10.2015 |
LOCATIONS
|
Registered Office/ Factory : |
15, Natraj Industrial Estate, Vasna-Iyava, Sanand, Ahmedabad – 382170,
Gujarat, India |
|
Tel. No.: |
91-2717-284194/ 284148-49 |
|
Mobile No.: |
91-9824364772 (Mr. Nirav Desai) 91-9824266924 (Mr. Pankaj Shah) |
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Fax No.: |
91-2717-284194 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Industrial |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Jayesh Indravadan Parikh |
|
Designation : |
Director |
|
Address : |
43, Niharika Bunglows, Azad Society, Ambawadi, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
08.01.1962 |
|
Date of Appointment : |
12.05.2000 |
|
PAN No.: |
ADBPP0813A |
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DIN No.: |
00360752 |
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|
|
|
Name : |
Mr. Pradipkumar Devidas Ravtani |
|
Designation : |
Director |
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Address : |
A/7, Crystal Apartment, Opposite ESI Hospital, Gotri Road, Baroda –
390021, Gujarat, India |
|
Date of Birth/Age : |
21.05.1962 |
|
Date of Appointment : |
12.05.2000 |
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PAN No.: |
ABTPR4011L |
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DIN No.: |
00011709 |
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|
|
|
Name : |
Mr. Jitendrabhai Indravadan Parikh |
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Designation : |
Director |
|
Address : |
43, Niharika Bunglows, Azad society, Ambawadi, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
25.04.1967 |
|
Date of Appointment : |
12.05.2000 |
|
DIN No.: |
00011729 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Sharma |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Jayesh Indravadan Parikh |
|
457070 |
|
Pradipkumar D Ravtani |
|
457072 |
|
Jitendrabhai Parikh |
|
76 |
|
Vijaybhai Parikh |
|
228514 |
|
|
|
|
|
Total |
|
1142732 |
AS ON 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage of
Holding |
|
|
|
|
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Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pressure Vessel, Heat Exchanger, Surface Condensers,
Steam Jet Ejectors and Vacuum Systems, Multiple Effect Evaporation Plant,
Crystallizers, Salt Recovery Plants, etc. |
|
|
|
|
Products : |
·
Vacuum ·
Evaporation ·
Crystallization and Salt Recovery ·
Drying ·
Turnkey Solutions ·
Heat Exchangers ·
Pressure Vessels ·
Thermal Design ·
Drawing Design |
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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 : |
Muscat |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· China · Dubai |
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Terms : |
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Selling : |
L/C and Cheque |
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Purchasing : |
L/C and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
300 (Approximately) |
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Bankers : |
· Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road,
Worli, Mumbai – 400018, Maharashtra, India ·
Vijaya Bank Industrial Finance Branch, Kemdhanu Complex, Ambawadi, Ahmedabad
380015, Gujarat, India ·
ICICI Bank Limited Ahmedabad, Gujarat, India ·
HDFC Bank Limited ·
Kotak Mahindra Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
Darshan Bakul and Associates Chartered Accountants |
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Address : |
303 Narayan Complex, Opposite Havmore Restaurant, Navarangpura, Ahmedabad-380014, Gujarat, India |
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Tel. No.: |
91-79-26443637 |
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Mobile No.: |
91-9825556056 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAGFD8757P |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1142732 |
Equity Shares |
Rs.10/- each |
Rs.11.427 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 |
11.427 |
11.427 |
11.427 |
|
(b) Reserves &
Surplus |
292.865 |
225.115 |
192.008 |
|
(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) |
304.292 |
236.542 |
203.435 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
13.375 |
8.761 |
11.464 |
|
(b) Deferred tax
liabilities (Net) |
17.413 |
12.954 |
11.076 |
|
(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) |
30.788 |
21.715 |
22.540 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
215.659 |
243.324 |
277.941 |
|
(c) Other current
liabilities |
252.312 |
188.770 |
120.986 |
|
(d) Short-term provisions |
47.898 |
27.423 |
40.233 |
|
Total Current Liabilities
(4) |
515.869 |
459.517 |
439.160 |
|
|
|
|
|
|
TOTAL |
850.949 |
717.774 |
665.135 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
194.767 |
152.516 |
129.250 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
5.261 |
3.859 |
24.138 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
200.028 |
156.375 |
153.388 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
184.487 |
194.333 |
132.186 |
|
(c) Trade receivables |
280.103 |
274.319 |
255.363 |
|
(d) Cash and cash
equivalents |
89.885 |
41.358 |
39.555 |
|
(e) Short-term loans and
advances |
96.446 |
51.389 |
84.643 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
650.921 |
561.399 |
511.747 |
|
|
|
|
|
|
TOTAL |
850.949 |
717.774 |
665.135 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
1013.344 |
656.308 |
1077.900 |
|
|
|
Other Income |
8.049 |
8.474 |
NA |
|
|
|
TOTAL (A) |
1021.393 |
664.782 |
NA |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials
Consumed |
499.342 |
345.984 |
|
|
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
|
|
|
|
Employees benefits
expense |
74.650 |
50.302 |
|
|
|
|
Other expenses |
326.376 |
205.365 |
||
|
|
TOTAL (B) |
900.368 |
601.651 |
NA |
|
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
121.025 |
63.131 |
110.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
8.951 |
3.983 |
1.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
112.074 |
59.148 |
109.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.964 |
8.593 |
7.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
102.110 |
50.555 |
101.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.360 |
17.448 |
33.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
67.750 |
33.107 |
68.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
NA |
81.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
59.29 |
28.97 |
-- |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1160.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs.1200.000 Million
The above information has been parted by Mr. Anil Sharma (Accountant)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
5.184 |
3.725 |
3.683 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
NA |
29.735 |
50.244 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin
(PAT / Sales) |
(%) |
6.69 |
5.04 |
6.36 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.94 |
9.62 |
10.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.07 |
7.08 |
15.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.21 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.06 |
0.05 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.22 |
1.17 |
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 |
11.427 |
11.427 |
11.427 |
|
Reserves & Surplus |
192.008 |
225.115 |
292.865 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
203.435 |
236.542 |
304.292 |
|
|
|
|
|
|
Long-term borrowings |
11.464 |
8.761 |
13.375 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
3.683 |
3.725 |
5.184 |
|
Total
borrowings |
15.147 |
12.486 |
18.559 |
|
Debt/Equity ratio |
0.074 |
0.053 |
0.061 |
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 |
1077.900 |
656.308 |
1013.344 |
|
|
|
(39.112) |
54.401 |
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 |
1077.900 |
656.308 |
1013.344 |
|
Profit |
68.600 |
33.107 |
67.750 |
|
|
6.36% |
5.04% |
6.69% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of Establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
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 |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10471924 |
30/12/2013 |
10,000,000.00 |
THE AHMEDABAD
MERCANTILE CO-OPERATIVE BANK LIMITED |
CHANGODAR BRANCH,
SHIVAM ARCADE, NEAR CHANGODAR |
B94148673 |
|
2 |
10471928 |
30/12/2013 |
10,000,000.00 |
THE AHMEDABAD
MERCANTILE CO-OPERATIVE BANK LIMITED |
CHANGODAR BRANCH,
SHIVAM ARCADE, NEAR CHANGODAR |
B94149648 |
|
3 |
10313913 |
08/09/2011 |
10,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B23828445 |
|
4 |
10275634 |
21/03/2011 |
7,500,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B08883258 |
|
5 |
10196599 |
08/09/2010 * |
2,377,500.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
A95558938 |
|
6 |
10027819 |
07/09/2013 * |
270,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA,, DR. |
B86480548 |
|
7 |
10027464 |
23/09/2013 * |
277,500,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B86482783 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Other Loans |
|
|
|
From Directors |
1.000 |
1.000 |
|
From Shareholders and relative of directors |
0.000 |
0.000 |
|
|
|
|
|
Total |
1.000 |
1.000 |
FIXED ASSETS
· Land
· Factory Building
· Flat
· Electric Installation
· Plant and Machinery
· Furniture and Fixture
· Vehicle
· Computer
· Office Equipment
· Office Premises
· Air Conditioner
· Mobile
· Solar Plant
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. 65.22 |
|
|
1 |
Rs. 99.93 |
|
Euro |
1 |
Rs. 71.67 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.