MIRA INFORM REPORT
|
Report No. : |
343334 |
|
Report Date : |
30.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CANDICO (I) LIMITED |
|
|
|
|
Formerly Known
As : |
HERITAGE BHARAT LIMITED |
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|
|
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Registered
Office : |
G-9, Harsh Bhawan, 64-65, Nehru Place, New Delhi - 110019 |
|
Mobile No.: |
91-9890255071 (Mr. Anil Gupta) |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
09.05.1994 |
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|
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|
Com. Reg. No.: |
55-058883 |
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|
Capital
Investment / Paid-up Capital : |
Rs.140.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1994PLC058883 |
|
|
|
|
IEC No.: |
0597006725 |
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CST NO.: |
27310000505V |
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VAT TIN No.: |
27310000505V |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
PAN No.: [Permanent Account No.] |
AAACC4180E |
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|
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Candies, Toffees, Gums, Soft Chew and
Compressed Powder etc. |
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|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 18000 |
|
|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 9th May, 1994. It has moderate
track record. The rating takes into consideration hefty debt level which leads to
create risk to liquidity position of the company. Further, the company is
continuously incurring a losses from its operations. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered business dealings with some
caution. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Anil Gupta |
|
Designation : |
General Manager Accounts |
|
Contact No.: |
91-9890255071 |
|
Date : |
29.09.2015 |
LOCATIONS
|
Registered Office : |
G-9, Harsh Bhawan, 64-65, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-7104-237771 / 237772 |
|
Mobile No.: |
91-9890255071 (Mr. Anil Gupta) |
|
Fax No.: |
91-7104-237881 |
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E-Mail : |
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Website : |
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Located: |
Rented |
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Locality: |
Commercial |
|
|
|
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Factory: |
M-32, MIDC Industrial Area, Hingna Road, Nagpur – 440016, Maharashtra,
India |
|
Located: |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Corporate Office: |
Block – 1/A, 1st Floor, DLF Corporate Park, DLF City, Phase
– 3 , M G Road, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-4947200 |
|
Fax No.: |
91-124-4947202 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sanjiv Kumar |
|
Designation : |
Managing director |
|
Address : |
26, Poorvi Marg, DLF, Phase II, Gurgaon - 122008, Haryana,
India |
|
Date of Birth/Age : |
14.11.1949 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00038978 |
|
PAN No.: |
ABCPK3127D |
|
|
|
|
Name : |
Mr. Anirudh Khullar |
|
Designation : |
Director |
|
Address : |
House No. 121, Sector 24-A, Chandigarh, Chandigarh -
160023, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
00019317 |
|
|
|
|
Name : |
Mr. Mayank Jalan |
|
Designation : |
Director |
|
Address : |
Shreeram Gardens, Flat - 11b, 15, Belvedere Road, Kolkata
- 700027, West Bengal, India |
|
Date of Birth/Age : |
15.09.1981 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
00598842 |
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PAN No.: |
AEUPJ1360E |
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|
|
|
Name : |
Mr. Ajay Choudhury |
|
Designation : |
Director |
|
Address : |
74/A, Paddapukur Road, Kolkata - 700020, West Bengal,
India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
00040825 |
|
|
|
|
Name : |
Mr. Sunil Kajaria |
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Designation : |
Nominee director |
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Address : |
105, Southern Avenue, Kolkata - 700029, West Bengal, India |
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Date of Birth/Age : |
12.04.1971 |
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Date of Appointment : |
01.10.2012 |
|
DIN No.: |
00464799 |
|
|
|
|
Name : |
Mr. Rakesh Salhotra |
|
Designation : |
Nominee director |
|
Address : |
18/101 Unitech Heritage City, Mehrauli Gurgaon Road,
Gurgaon - 122002, Haryana, India |
|
Date of Birth/Age : |
24.08.1954 |
|
Date of Appointment : |
01.10.2007 |
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DIN No.: |
01546421 |
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|
|
|
Name : |
Mr. Rameshchandra Chavan |
|
Designation : |
Nominee director |
|
Address : |
P.No. 40, Madhao Nagar, Nagpur - 440016, Maharashtra,
India |
|
Date of Birth/Age : |
31.08.1947 |
|
Date of Appointment : |
20.03.2010 |
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DIN No.: |
02979810 |
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|
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Name : |
Mr. Sanjay Gupta |
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Designation : |
Nominee director |
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Address : |
25/8 D H Road Geetanjali Apartment, Flat No 2/C, Kolkata -
700008, West Bengal, India |
|
Date of Birth/Age : |
17.04.1969 |
|
Date of Appointment : |
09.10.2010 |
|
DIN No.: |
03095578 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Gupta |
|
Designation : |
General Manager Accounts |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Sanjiv Kumar |
250000 |
|
Manjari Gupta |
800000 |
|
Sanjiv Kumar and Sons |
900000 |
|
Karan Gupta |
1512500 |
|
Madhav Gupta |
1512500 |
|
Sanraj Engineers Private Limited, India |
1000000 |
|
Shivani Gupta |
1025000 |
|
Keventer Agro Limited, India |
7000000 |
|
Total |
14000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
56.28 |
|
Directors or relatives of Directors |
37.16 |
|
Other top fifty shareholders |
6.56 |
|
Total |
100.00 |
%20LIMITED%20-%20343334%2030-Sep-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Candies, Toffees, Gums, Soft Chew and
Compressed Powder 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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
300 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
V. K. Sehgal and Associates Chartered Accountants |
|
Address : |
201 Harsh Bhawan, 64-65 Nehru Place, New Delhi, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AMEPS0840E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates: |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14925000 |
Equity Shares |
Rs.10/- each |
Rs.149.250 Million |
|
275000 |
Preference Shares |
Rs.10/- each |
Rs.2.750 Million |
|
|
|
|
|
|
|
Total |
|
Rs.152.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs.140.000 Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14925000 |
Equity Shares |
Rs.10/- each |
Rs.149.250 Million |
|
275000 |
Preference Shares |
Rs.10/- each |
Rs.2.750 Million |
|
|
|
|
|
|
|
Total |
|
Rs.152.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13725000 |
Equity Shares |
Rs.10/- each |
Rs.137.250 Million |
|
275000 |
2% Redeemable convertible non-cumulative Preference Shares |
Rs.10/- each |
Rs.2.750 Million |
|
|
|
|
|
|
|
Total |
|
Rs.140.000
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 |
140.000 |
140.000 |
140.000 |
|
(b) Reserves & Surplus |
(133.366) |
(119.132) |
(90.678) |
|
(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) |
6.634 |
20.868 |
49.322 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
47.664 |
41.019 |
42.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
4.888 |
11.175 |
17.802 |
|
(d) long-term provisions |
5.094 |
5.856 |
6.288 |
|
Total
Non-current Liabilities (3) |
57.646 |
58.050 |
66.090 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
10.861 |
|
(b) Trade payables |
64.733 |
64.246 |
26.600 |
|
(c) Other current liabilities |
51.425 |
38.495 |
40.517 |
|
(d) Short-term provisions |
0.550 |
0.827 |
0.179 |
|
Total
Current Liabilities (4) |
116.708 |
103.568 |
78.157 |
|
|
|
|
|
|
TOTAL |
180.988 |
182.486 |
193.569 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
126.331 |
133.408 |
140.401 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1.130 |
1.130 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.011 |
0.011 |
0.011 |
|
(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 |
14.228 |
11.322 |
11.666 |
|
Total
Non-Current Assets |
141.700 |
145.871 |
152.07 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
18.082 |
19.305 |
17.939 |
|
(c) Trade receivables |
10.893 |
9.172 |
11.028 |
|
(d) Cash and cash equivalents |
1.301 |
2.416 |
5.565 |
|
(e) Short-term loans and
advances |
6.742 |
3.633 |
4.984 |
|
(f) Other current assets |
2.270 |
2.089 |
1.974 |
|
Total
Current Assets |
39.288 |
36.615 |
41.490 |
|
|
|
|
|
|
TOTAL |
180.988 |
182.486 |
193.569 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
202.427 |
324.222 |
268.917 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
(A) |
202.427 |
324.222 |
268.917 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
88.129 |
166.252 |
129.229 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(1.024) |
2.936 |
(0.181) |
|
|
Employees benefits expense |
38.041 |
38.448 |
34.450 |
|
|
Other expenses |
78.339 |
129.059 |
122.336 |
|
|
TOTAL
(B) |
203.485 |
336.695 |
285.834 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(1.058) |
(12.473) |
(16.917) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.130 |
0.372 |
4.835 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1.188) |
(12.845) |
(21.752) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
13.036 |
15.609 |
15.556 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(14.224) |
(28.454) |
(37.308) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.010 |
0.000 |
0.056 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(14.234) |
(28.454) |
(37.364) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.95) |
(1.91) |
(2.5) |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
140.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs.200.000 Million
The above information has been parted by Mr. Anil Gupta (General Manager
Accounts).
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 Operating Activities |
(5.191) |
1.656 |
6.916 |
|
Net Cash from Operating Activities |
(7.462) |
(0.434) |
4.973 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(7.03) |
(8.78) |
(13.89) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(0.52) |
(3.85) |
(6.29) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.91) |
(15.69) |
(19.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.14) |
(1.36) |
(0.76) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
7.18 |
1.97 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.34 |
0.35 |
0.53 |
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 |
140.000 |
140.000 |
140.000 |
|
Reserves & Surplus |
(90.678) |
(119.132) |
(133.366) |
|
Net
worth |
49.322 |
20.868 |
6.634 |
|
|
|
|
|
|
long-term borrowings |
42.000 |
41.019 |
47.664 |
|
Short term borrowings |
10.861 |
0.000 |
0.000 |
|
Total
borrowings |
52.861 |
41.019 |
47.664 |
%20LIMITED%20-%20343334%2030-Sep-2015_files/image014.gif)
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 |
268.917 |
324.222 |
202.427 |
|
|
|
20.566 |
(37.565) |
%20LIMITED%20-%20343334%2030-Sep-2015_files/image015.gif)
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 |
268.917 |
324.222 |
202.427 |
|
Profit |
(37.364) |
(28.454) |
(14.234) |
|
|
(13.89%) |
(8.78%) |
(7.03%) |
%20LIMITED%20-%20343334%2030-Sep-2015_files/image016.gif)
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 |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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% |
-- |
|
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 |
No |
|
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: NO CHARGES
EXIST FOR COMPANY
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Other loans and advances |
47.664 |
41.019 |
|
Total |
47.664 |
41.019 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
(A) Claim Against The Company Not Acknowledged |
|
|
|
Sales Tax Demands |
8.970 |
12.730 |
|
Excise Department |
3.868 |
3.868 |
|
Income Tax Demands |
3.953 |
3.953 |
|
(B) Guarantees; |
0.150 |
0.150 |
|
Total |
16.941 |
20.701 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Factory equipment’s
- Furniture and fixtures
- Vehicles
- 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, India Prisons Service,
Interpol, etc.
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.66.18 |
|
UK Pound |
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT \ GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.