MIRA INFORM REPORT
|
Report No. : |
342084 |
|
Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BHARAT WIRE ROPES LIMITED |
|
|
|
|
Formerly Known
As : |
BHARAT ROPES PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Plot No. 1 and 4, Atgaon Industrial Complex, Mumbai-Nasik Highway,
Atgaon (East), Taluka Shahpur, Thane – 421601, Maharashtra |
|
Tel. No.: |
91-22-66824662 |
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|
|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
24.07.1986 |
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|
|
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Com. Reg. No.: |
11-040468 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.293.967 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1986PLC040468 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB07930G / MUMB13248E |
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|
|
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PAN No.: [Permanent Account No.] |
AABCB2180N |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Steel Wire Ropes. |
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|
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Bharat Wire Ropes Limited, promoted by the Sunderji Shah and Devchand
Shah, was incorporated in 1986. It is engaged in manufacturing of steel wire
ropes. It has satisfactory track record. The company possesses a decent profile marked by decent networth base
along with fair liquidity and profitability. The ratings continue to derive strength from company’s professionally
qualified promoters with noteworthy experience, wide product portfolio and
reputed clientele spanning across geographies. 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 term 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities = BBB- |
|
Rating Explanation |
Have moderate degree of safety
and carry moderate credit risk. |
|
Date |
January 7, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
January 7, 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 : |
Ms. Praveena M. |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-66824662 |
|
Date : |
19.09.2015 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. 1 and 4, Atgaon Industrial Complex, Mumbai-Nasik Highway,
Atgaon (East), Taluka Shahpur, Thane – 421601, Maharashtra, India |
|
Tel. No.: |
91-22-66824662 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
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Corporate Office : |
701, A Wing, Trade World, Kamla City, Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400013, Maharashtra, India |
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|
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Factory 2: |
Near Bhandup, Sonapur, L.B.S. Marg, Bhandup (West), Mumbai – 400078, Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Sushil Radheyshyam Sharda |
|
Designation : |
Whole-time Director |
|
Address : |
F-302, Sterling Court, Maheshwari Nagar, Marol, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1968 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
02.05.2011 |
|
PAN No. : |
AKGPS9902H |
|
DIN No. : |
03117481 |
|
|
|
|
Name : |
Mr. Murarilal Ramsukh Mittal |
|
Designation : |
Managing Director |
|
Address : |
1601, Marathan Heights, Jai Bharat Oil Mill Compound, Mumbai - 400013, Maharashtra, India |
|
Date of Birth/Age : |
11.03.1958 |
|
Qualification : |
Chartered Accountants |
|
Date of Appointment : |
03.11.2010 |
|
DIN No. : |
00010689 |
|
|
|
|
Name : |
Mr. Venkateswararao Kandikuppa |
|
Designation : |
Whole-time Director |
|
Address : |
B-1001, Riveria, Siddeshwar Gardens Dhokali-Kolshet Road, Thane (West) – 400607, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1965 |
|
Qualification : |
Cost Accountant |
|
Date of Appointment : |
04.01.2013 |
|
DIN No. : |
06456698 |
|
|
|
|
Name : |
Mr. Sumit Kumar Modak |
|
Designation : |
Whole-time Director |
|
Address : |
GD - 284, Sector III, Salt Lake City, Kolkata – 700091, West Bengal, India |
|
Date of Birth/Age : |
10.05.1953 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
04.01.2013 |
|
PAN No. : |
ACQPM6279D |
|
DIN No. : |
00983527 |
|
|
|
|
Name : |
Mr. Anthony Reginald Dsouza |
|
Designation : |
Director |
|
Address : |
1501 E Wing Ashoka Gardens, Tokershey Jivraj Road Sewri, Mumbai - 400015, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1951 |
|
Date of Appointment : |
14.08.2014 |
|
DIN No.: |
06707269 |
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|
|
|
Name : |
Mr. Supratik Chatterjee |
|
Designation : |
Director |
|
Address : |
Flat No. 303, Bandari Residency, Umanagar,, Begumpet,, Hydrabad - 500016, Telangana, India |
|
Date of Birth/Age : |
05.02.1951 |
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Date of Appointment : |
14.08.2014 |
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DIN No.: |
06934992 |
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|
|
|
Name : |
Ms. Ruhi Mittal |
|
Designation : |
Director |
|
Address : |
14-1518, Ward No. 11, Old Anaj Mandi, Jagadhari, Yamunanagar - 135003, Haryana, India |
|
Date of Appointment : |
16.04.2015 |
|
DIN No.: |
07159227 |
KEY EXECUTIVES
|
Name : |
Ms. Praveena M. |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Mr. Rakesh Kumar Jain |
|
Designation : |
Chief Executive Officer |
|
Address : |
199, Gayatri Nagar, A Maharani Farm, Durgapura,, Jaipur, Rajashthan, Jainpur - 302018, Rajasthan, India |
|
Date of Appointment : |
18.04.2015 |
|
PAN No.: |
ABBPJ5834H |
|
|
|
|
Name : |
Mr. Shailesh Rakhasiya |
|
Designation : |
Secretary |
|
Address : |
A-302, Jesal Chs, Kopar Cross Lane,, Shashtri Nagar, Nr. Municipal Hospital, Dombivali - 421202, Maharashtra, India |
|
Date of Appointment : |
14.08.2014 |
|
PAN No.: |
ALUPR4390R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sunderji M. Shah |
|
88970 |
|
Devchand M. Shah |
|
151470 |
|
Dinesh S. Shah |
|
102070 |
|
Sunderji M. Shah HUF |
|
539000 |
|
Devchand M.Shah HUF |
|
476500 |
|
Dinesh S.Shah HUF |
|
525900 |
|
Gaji Mercantile Private Limited, India |
|
25675484 |
|
Gyan Shankar Investment Private Limited, India |
|
1 |
|
M.L.Mittal HUF |
|
1 |
|
M.L.Mittal |
|
1 |
|
Mayank Mittal |
|
1 |
|
Usha Mittal |
|
1 |
|
Sushil R. Sharda |
|
1 |
|
Motilal Gopilal Oswal |
|
1837293 |
|
|
|
|
|
Total |
|
29396693 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
87.34 |
|
Other top fifty shareholders |
12.66 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Steel Wire Ropes. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Steel Wire Ropes |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Cheque and Credit (30 Days) |
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Purchasing : |
Cheque and Credit (30 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Sureka Associates Chartered Accountants |
|
Address : |
34132, 45C, Mandhana Manor, Mogal Lane, Matunaga Road, (West), Mumbai – 400016, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAMFS8201P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
Gaji Mercantile Private Limited, India CIN No.: U51900MH2010PTC202821 |
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Associate : |
Gyanshankar Investment and Trading Company Private Limited CIN No.: U67120MH1992PTC066758 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29396693 |
Equity Shares |
Rs.10/- each |
Rs.293.967
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 |
293.967 |
293.967 |
293.967 |
|
(b) Reserves & Surplus |
412.103 |
398.855 |
412.591 |
|
(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) |
706.070 |
692.822 |
706.558 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
200.979 |
263.298 |
319.031 |
|
(b) Deferred tax liabilities (Net) |
49.063 |
40.392 |
5.596 |
|
(c) Other long term
liabilities |
1.650 |
1.650 |
0.000 |
|
(d) long-term
provisions |
4.426 |
5.027 |
3.635 |
|
Total Non-current
Liabilities (3) |
256.118 |
310.367 |
328.262 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
192.577 |
214.074 |
229.801 |
|
(b) Trade
payables |
180.896 |
175.755 |
95.806 |
|
(c) Other
current liabilities |
102.964 |
91.740 |
75.355 |
|
(d) Short-term
provisions |
0.765 |
0.309 |
1.181 |
|
Total Current
Liabilities (4) |
477.202 |
481.878 |
402.143 |
|
|
|
|
|
|
TOTAL |
1439.390 |
1485.067 |
1436.963 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
672.451 |
678.696 |
606.213 |
|
(ii)
Intangible Assets |
19.951 |
19.951 |
19.951 |
|
(iii)
Capital work-in-progress |
78.599 |
49.291 |
70.248 |
|
(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 |
6.445 |
10.071 |
9.080 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
777.446 |
758.009 |
705.492 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
8.360 |
0.000 |
|
(b)
Inventories |
370.485 |
349.355 |
287.787 |
|
(c) Trade
receivables |
223.286 |
205.646 |
220.314 |
|
(d) Cash and
cash equivalents |
18.590 |
84.013 |
125.773 |
|
(e)
Short-term loans and advances |
8.797 |
16.047 |
32.588 |
|
(f) Other
current assets |
40.786 |
63.637 |
65.009 |
|
Total
Current Assets |
661.944 |
727.058 |
731.471 |
|
|
|
|
|
|
TOTAL |
1439.390 |
1485.067 |
1436.963 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
819.131 |
730.711 |
767.149 |
|
|
|
Other Income |
9.805 |
15.373 |
5.000 |
|
|
|
TOTAL (A) |
828.936 |
746.084 |
772.149 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
441.860 |
402.529 |
429.089 |
|
|
|
Purchases of Stock-in-Trade |
131.362 |
145.467 |
14.440 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.266 |
-54.939 |
75.038 |
|
|
|
Employees benefits expense |
70.571 |
62.622 |
59.815 |
|
|
|
Other expenses |
92.267 |
99.725 |
107.360 |
|
|
|
TOTAL (B) |
736.326 |
655.404 |
685.742 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
92.610 |
90.680 |
86.407 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
44.345 |
47.225 |
41.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
48.265 |
43.455 |
45.407 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.980 |
21.798 |
15.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
24.285 |
21.657 |
30.127 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.036 |
8.862 |
10.654 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.249 |
12.795 |
19.473 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.45 |
0.44 |
1.51 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
67.918 |
66.800 |
50.100 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
100.875 |
159.768 |
139.024 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.62 |
1.75 |
2.54 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.31 |
12.41 |
11.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.78 |
1.51 |
2.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.03 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.65 |
0.79 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.51 |
1.82 |
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 |
293.967 |
293.967 |
293.967 |
|
Reserves & Surplus |
412.591 |
398.855 |
412.103 |
|
Net
worth |
706.558 |
692.822 |
706.070 |
|
|
|
|
|
|
long-term borrowings |
319.031 |
263.298 |
200.979 |
|
Short term borrowings |
229.801 |
214.074 |
192.577 |
|
Current maturities of
long-term debts |
50.100 |
66.800 |
67.918 |
|
Total
borrowings |
598.932 |
544.172 |
461.474 |
|
Debt/Equity
ratio |
0.848 |
0.785 |
0.654 |
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 |
767.149 |
730.711 |
819.131 |
|
|
|
(4.750) |
12.101 |
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 |
767.149 |
730.711 |
819.131 |
|
Profit |
19.473 |
12.795 |
13.249 |
|
|
2.54% |
1.75% |
1.62% |
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) |
No |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
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 |
NOTE: Registered office of the company has been shifted from Nirmal Life Style (Corporate Office Building), 5th Floor Office No 524 Mulund (West), Mumbai – 400080, Maharashtra, India to the present address w.e.f. 22.05.2012
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10567001 |
17/04/2015 |
3,300,000,000.00 |
BANK OF BARODA |
BALLARD ESTATE BRANCH, ORIENT HOUSE,, ADI MURZBAN |
C52414729 |
|
2 |
10256820 |
26/06/2015 * |
500,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR (ACTING AS LEAD B |
GR. FLOOR, WELSPUN HOUSE, KAMLA MILL COMPOUND,, LOWER PAREL,, MUMBAI, Maharashtra
- 400013, INDIA |
C57940413 |
|
3 |
10239826 |
26/06/2015 * |
500,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR (ACTING AS LEAD B |
GR. FLOOR, WELSPUN HOUSE, KAMLA MILL COMPOUND,, LOWER PAREL,, MUMBAI, Maharashtra
- 400013, INDIA |
C57939860 |
* Date of charge modification
OPERATIONS:
Overall performance of the Company has been satisfactory during the year. Sales has increased by 12.02% during 2013-14. The Net Profit of the Company is 12.742 Million during 2013-14 and it decreased marginally due to increase in cost of raw materials and others.
FIXED ASSETS
- Buildings
- Office building
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer 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.66.29 |
|
|
1 |
Rs.101.88 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYTK/ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.