MIRA INFORM REPORT
|
Report No. : |
343537 |
|
Report Date : |
07.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
RIECO INDUSTRIES LIMITED (w.e.f. 08.08.1997) |
|
|
|
|
Formerly Known
As : |
RATHI INDUSTRIAL EQUIPMENT COMPANY LIMITED (w.e.f. 12.05.19976) RATHI INDUSTRIAL EQUIPMENT COMPANY PRIVATE LIMITED |
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|
|
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Registered
Office : |
1162/2 Shivajinagarbehind Obseavatory, Pune- 411005, Maharashtra |
|
Tel. No.: |
91-20-25535384/25535215 |
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|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.10.1975 |
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Com. Reg. No.: |
11-018631 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U24118MH1975PLC018631 |
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|
|
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IEC No.: |
0388142383 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACR8717P |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Air Pollution Control Systems (APC), Size
Reduction Equipment’s (SRE), Pneumatic Conveying Systems (PHS) and
Accessories and Spares. |
|
|
|
|
No. of Employees
: |
210 (Approximately) |
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 |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1975, having satisfactory track
record. During the FY2014, the company has reported profit of Rs.7.880 Million
which has declined from Rs.14.160 Million, when compared to previous year. However, the company possesses adequate net worth base and there is
favourable gap between trade payables and receivables. Rating continues to take into account the strong and experienced
promoter group, diversified product profile and diversified customers base
across various industries. Trade relations are fair. Business is active. Payments are slow but
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term facilities BBB- |
|
Rating Explanation |
Moderate of safety and moderate credit risk. |
|
Date |
15.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
15.04.2015 |
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. B. Mishra |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-20-25535384 |
|
Date : |
03.10.2015 |
LOCATIONS
|
Registered Office : |
1162/2 Shivajinagarbehind Obseavatory, Pune- 411005, Maharashtra, India |
|
Tel. No.: |
91-20-25535384/25535215 |
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Fax No.: |
91-20-25533229 |
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E-Mail : |
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Website : |
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Factory : |
Gat No.144, Alandi Markal Road, Alandi, Pune, Maharashtra, India |
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Tel. No.: |
91-2135-305016 |
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Fax No.: |
91-2135-305006 |
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|
|
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Branch office : |
· E-1,1st Floor, Jhandewala Extension Near Delhi Press,Rani Jhansi Road, New Delhi -110055, Delhi, India · 14 Nariman Bhavan, 227 Nariman Point , Mumbai -400021, Maharashtra, India ·
No.31 and 32,Kamarajagar Colony, 3rd Street,
Kodambakkam, Chennai -600008, Tamilnadu,
India · 7A, Lala Lajpatrai Sarani. Kolkata -700020, West Bengal, India |
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|
|
|
Regional Office : |
Located at : ·
Mumbai ·
Kolkata ·
New Delhi ·
Chennai |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Ajoy Balkrishna Rathi |
|
Designation : |
Managing Director |
|
Address : |
60, Baner Road, Aundh, Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
28.07.1956 |
|
Qualification : |
B.Tech, MBA, USA |
|
Experience : |
35 Years |
|
Date of Appointment : |
21.07.1991 |
|
PAN No.: |
ABDPR2554C |
|
DIN No.: |
00018614 |
|
|
|
|
Name : |
Mr. Vikas Rameshlal Bhatia |
|
Designation : |
Director |
|
Address : |
T-03/1103, SN 183 203/1A, Baner,, Kapil Malhar, Intelligent H / Baner,, Pune-411045, Maharashtra, India |
|
Date of Birth/Age : |
05.08.1970 |
|
Date of Appointment : |
17.09.2014 |
|
DIN No.: |
01056616 |
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|
|
|
Name : |
Mr. Kishor Laxminarayan Rathi |
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Designation : |
Nominee Director |
|
Address : |
C-4, Abhimanshree Society, Pashan Road, Pune-411008, Maharashtra, India |
|
Date of Appointment : |
10.02.2015 |
|
DIN No.: |
00018567 |
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|
|
|
Name : |
Mr. Pradeep Ramwilas Rathi |
|
Designation : |
Nominee Director |
|
Address : |
2, Boat Club Road,, Pune-411001, Maharashtra, India |
|
Date of Appointment : |
10.02.2015 |
|
DIN No.: |
00018577 |
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|
|
|
Name : |
Mr. Narayandas Jagannath Rathi |
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Designation : |
Nominee Director |
|
Address : |
113/3, Koregaon Park, General Post Office, Bund Garden, Pune-411001, Maharashtra, India |
|
Date of Appointment : |
10.02.2015 |
|
DIN No.: |
00018597 |
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|
|
|
Name : |
Mr. Rajesh Balkrishna Rathi |
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Designation : |
Nominee Director |
|
Address : |
Sr.No. 277, Plot No. 4/8,, Lane No. 3, Pallod Farm, Pune-411045, Maharashtra, India |
|
Date of Appointment : |
10.02.2015 |
|
DIN No.: |
00018628 |
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|
|
|
Name : |
Mr. Dara Nadirshaw Damania |
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Designation : |
Nominee Director |
|
Address : |
11 Abbas Road, 11 G.G Thakkar Road, Pune-411001, Maharashtra, India |
|
Date of Appointment : |
10.02.2015 |
|
DIN No.: |
00403834 |
KEY EXECUTIVES
|
Name : |
Mr. B. Mishra |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Narayandas Jagannath Rathi |
|
2485 |
|
Kishor Laxminarayan Rathi |
|
52336 |
|
Aruna K Rathi |
|
15999 |
|
Pradeep Ramwilas Rathi |
|
36774 |
|
Kusum R Rathi |
|
26668 |
|
Ajay B Rathi |
|
17610 |
|
Rajesh B Rathi |
|
40222 |
|
Rathi Bros Private Limited, India |
|
22500 |
|
Rohit K Rathi |
|
31667 |
|
Anuj N Rathi HUF |
|
170 |
|
Balkrishna Rathi Finance Private Limited, India |
|
10000 |
|
Anuj N Rathi |
|
64638 |
|
Kusum B Rathi |
|
1333 |
|
Rahul P Rathi |
|
43239 |
|
Nisha A Rathi |
|
1250 |
|
Subhadra Rathi |
|
11110 |
|
NJR Finance Private Limited, India |
|
20498 |
|
PRR Finance Private Limited, India |
|
10000 |
|
Laxminarayan Finance Private Limited, India |
|
6666 |
|
Ajay B Rathi HUF |
|
8883 |
|
Archna A Rathi |
|
23332 |
|
Deepika R Rathi |
|
13280 |
|
Mannan Rathi Trust |
|
25168 |
|
Sou. Rachana Rathi |
|
832 |
|
Rajesh B Rathi (HUF) |
|
13340 |
|
Total |
|
500000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
14.00 |
|
Directors or relatives of Directors |
86.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Air Pollution Control Systems (APC), Size
Reduction Equipment’s (SRE), Pneumatic Conveying Systems (PHS) and Accessories
and Spares. |
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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 : |
·
Indonesia ·
Netherland |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash / L/C / Credit |
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Purchasing : |
Cash / L/C / Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
210 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
A.H. Joshi and Company Chartered Accountants |
|
Address : |
Pune, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFA6011E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 55.000
Million |
|
|
|
|
|
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
159.842 |
151.952 |
137.789 |
|
(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) |
164.842 |
156.952 |
142.789 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
82.411 |
126.752 |
109.783 |
|
(b) Deferred tax liabilities (Net) |
2.744 |
2.744 |
2.229 |
|
(c) Other long term
liabilities |
1.477 |
1.031 |
1.857 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
86.632 |
130.527 |
113.869 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
335.112 |
341.082 |
246.385 |
|
(b) Trade
payables |
331.779 |
305.425 |
327.627 |
|
(c) Other
current liabilities |
15.396 |
68.096 |
199.090 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
6.233 |
|
Total Current
Liabilities (4) |
682.287 |
714.603 |
779.335 |
|
|
|
|
|
|
TOTAL |
933.761 |
1002.082 |
1035.993 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
29.95 |
30.749 |
26.194 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
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 |
29.950 |
30.749 |
26.194 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
242.198 |
254.734 |
280.632 |
|
(c) Trade
receivables |
516.654 |
571.806 |
599.861 |
|
(d) Cash
and cash equivalents |
1.500 |
0.547 |
10.991 |
|
(e)
Short-term loans and advances |
143.459 |
144.246 |
118.315 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
903.811 |
971.333 |
1009.799 |
|
|
|
|
|
|
TOTAL |
933.761 |
1002.082 |
1035.993 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
904.040 |
1087.598 |
1271.783 |
|
|
|
Other Income |
0.195 |
1.883 |
6.277 |
|
|
|
TOTAL (A) |
904.235 |
1089.481 |
1278.060 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
555.006 |
702.579 |
876.669 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
8.901 |
10.474 |
-48.250 |
|
|
|
Employees benefits expense |
92.048 |
102.432 |
93.932 |
|
|
|
Other expenses |
174.865 |
198.247 |
261.700 |
|
|
|
TOTAL (B) |
830.820 |
1013.732 |
1184.051 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
73.415 |
75.749 |
94.009 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
60.080 |
51.124 |
38.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.335 |
24.625 |
55.864 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.426 |
3.347 |
3.172 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.909 |
21.278 |
52.692 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.020 |
7.115 |
17.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.889 |
14.163 |
34.886 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.00 |
28.33 |
69.7 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
787.600 |
|
|
|
|
Due to less
order |
The above information has been parted by Mr. B. Mishra (Accounts
Manager)
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 |
|
Net cash flows from (used in) operation |
109.392 |
(55.126) |
58.353 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.87 |
1.30 |
2.74 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.12 |
6.96 |
7.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.06 |
2.12 |
5.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.14 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.53 |
2.98 |
2.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.36 |
1.30 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
137.789 |
151.952 |
159.842 |
|
Net
worth |
142.789 |
156.952 |
164.842 |
|
|
|
|
|
|
long-term borrowings |
109.783 |
126.752 |
82.411 |
|
Short term borrowings |
246.385 |
341.082 |
335.112 |
|
Total
borrowings |
356.168 |
467.834 |
417.523 |
|
Debt/Equity
ratio |
2.494 |
2.981 |
2.533 |
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 |
1271.783 |
1087.598 |
904.040 |
|
|
|
(14.482) |
(16.877) |
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 |
1271.783 |
1087.598 |
904.040 |
|
Profit |
34.886 |
14.163 |
7.889 |
|
|
2.74% |
1.30% |
0.87% |
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 |
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% |
Yes |
|
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 |
10354094 |
30/03/2012 |
9,000,000.00 |
BANK OF MAHARASHTRA |
CORPORATE FINANCE BRANCH, 1183/1, F.C. ROAD, PUNE, Maharashtra -
411005, INDIA |
B39095179 |
|
2 |
10228023 |
09/07/2010 |
32,100,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, 1183/1, F.C. ROAD, PUNE, Maharashtra -
411005, INDIA |
A89073506 |
|
3 |
10111773 |
03/07/2008 |
656,000,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, 11183/A,F.C.ROAD, PUNE, Maharashtra -
411005, INDIA |
A41543372 |
|
4 |
90087173 |
30/05/2012 * |
1,350,000,000.00 |
BANK OF MAHARASHTRA |
CORPORATE FINANCE BRANCH, YASHOMANGAL, 1183/1, F. C. ROAD, PUNE,
Maharashtra - 411005, INDIA |
B44075950 |
|
5 |
90084566 |
18/12/2007 * |
212,500,000.00 |
BANK OF MAHARSHTRA |
INDUSTRIAL FINANCE BRANCH, YASHOMANGAL,1183/A,F.C .ROAD, PUNE,
Maharashtra - 411005, INDIA |
A28686715 |
|
6 |
90084540 |
18/10/1996 |
7,500,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, 1183-A F.C. ROAD; SHI |
- |
|
7 |
90084289 |
11/07/1995 |
13,100,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, 1183-A SHIVAJINAGAR, P |
- |
|
8 |
90084189 |
28/10/1994 |
12,500,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, 1183-A SHIVAJINAGAR, P |
- |
|
9 |
90087863 |
28/10/1994 |
1,000,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, 1183-A SHIVAJINAGAR, P |
- |
|
10 |
90089966 |
04/05/1994 |
1,105,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, 1183-A SHIVAJINAGAR, P |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and machinery
- Furniture and fixture
- Computer
- Vehicle
- Office equipment
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.65.29 |
|
|
1 |
Rs.99.31 |
|
Euro |
1 |
Rs.73.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
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.