|
|
|
MIRA INFORM REPORT
|
Report No. : |
501753 |
|
Report Date : |
04.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PVC CONVERTERS INDIA PRIVATE LIMITED |
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|
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|
Registered
Office : |
P.O. Box 6043, 7-B, Trust House, 7th Floor, 35, Hospital Avenue,
Dr. E Borges Road, Parel, Mumbai – 400012, Maharashtra |
|
Tel. No.: |
91- 22-24110674 |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
12.12.2000 |
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|
|
|
Com. Reg. No.: |
11-129988 |
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|
|
Capital
Investment / Paid-up Capital : |
INR 8.878
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24116MH2000PTC129988 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0301027706 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCP0941L |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCP0941L1ZC |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in the Manufacturing and Selling PVC Sheets, Films and Plastic Products. (Registered activity) |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2000 and it is engaged in manufacturing and selling of PVC sheets and films. As per financials of March 2017, the company has registered marginal growth in its revenue and has reported average profit margin. Rating takes into consideration the company’s established track record of business operations marked by sound net worth base along with comfortable debt coverage indicators and good liquidity position. Further, the company has reported a good earnings per share of INR 29.74 against its face value of INR 10. However, rating strength is partially offset by its presence in working capital intensive nature of operations. Payments seems to be regular. In view of aforesaid, 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 04.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Rishikant Turakhiya |
|
Designation : |
Purchase Manager |
|
Contact No.: |
91-22-61331028 |
|
Date : |
03.04.2018 |
LOCATIONS
|
Registered/Head Office : |
P.O. Box 6043, 7-B, Trust House, 7th Floor, 35, Hospital
Avenue, Dr. E Borges Road, Parel, Mumbai – 400012, Maharashtra, India |
|
Tel. No.: |
91-22-61331000 / 24110674 / 24110675 / 24110676 |
|
|
91-9323463425 (Mr. Homiyar Bhumgar) 91-9820080708 (Ms. Ava Verma) |
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Fax No.: |
91-22-61331099 / 24110673 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. 60, 61, 72, Panchal Udyog Nagar, Bhimpore, Daman – 396 210, Daman and Diu, India |
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Tel No.: |
91-260-258269 |
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Factory 2 : |
Survey No-193/3 Next to Vinyl Processors, Opposite Western
Consolidated, Bhimpore, Daman – 396210, Daman, Gujarat, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Homiyar Bhumgar |
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Designation : |
Director |
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Address : |
Dinbai Petit Building, Block A-2, 2nd Floor, Avabai Petit Lane, Balaram Street, Grant Road, Mumbai - 400007, Maharashtra, India |
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Date of Birth/Age : |
22.06.1955 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.12.2000 |
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PAN No.: |
ABFPB4469A |
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DIN No.: |
00128531 |
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Name : |
Ms. Ava Verma |
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Designation : |
Additional Director |
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Address : |
8, Ratnakar, Narayan Dabholkar Marg, Mumbai - 400006, Maharashtra, India |
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Date of Birth/Age : |
16.01.1951 |
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Date of Appointment : |
12.04.2017 |
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PAN No.: |
AAEPV9200B |
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Aadhar Card No.: |
8049 5390 0106 |
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DIN No.: |
00179383 |
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Other Directorship:
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Name : |
Mr. Raoul Ajai Verma |
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Designation : |
Director |
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Address : |
8, Ratnakar, Narayan Dabholkar Marg, Mumbai - 400006, Maharashtra, India |
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Date of Birth/Age : |
22.02.1981 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
01.09.2012 |
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PAN No.: |
ABVPV3679E |
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DIN No.: |
01559186 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Rishikant Turakhiya |
|
Designation : |
Purchase Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Raoul Verma |
|
665800 |
|
Fazal M.K. Ali Manekia |
|
125000 |
|
Anil Nanda |
|
27000 |
|
M/s. Plastchem F. Z. C |
|
70000 |
|
|
|
|
|
Total |
|
887800 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
74.99 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
3.04 |
|
Public – (Individual/ Hindu
Undivided Family – NRI) |
14.08 |
|
Public - Bodies corporate |
7.88 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the Manufacturing and Selling PVC Sheets, Films and Plastic Products. (Registered activity) |
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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 : |
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 : |
Manufacturers
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Patkar and Pendse Chartered Accountants |
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Address : |
9/204, Chartered House, 297/298, Dr. Cawasji Hormasji Street, Marine
Lines, Mumbai – 400 002, Maharashtra, India |
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Tel. No.: |
91-22-22060309/ 22062272/ 65224568 |
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Fax No.: |
91-22-22060868 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFP2081Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
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Other Related Parties : |
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
887800 |
Equity Shares |
INR 10/- each |
INR 8.878
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8.878 |
8.878 |
8.878 |
|
(b) Reserves and Surplus |
166.510 |
140.108 |
107.707 |
|
(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) |
175.388 |
148.986 |
116.585 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
37.053 |
15.601 |
29.882 |
|
(b) Deferred tax liabilities (Net) |
2.127 |
(1.368) |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.115 |
5.254 |
2.043 |
|
Total Non-current
Liabilities (3) |
45.295 |
19.487 |
31.925 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
60.679 |
45.472 |
71.757 |
|
(b) Trade
payables |
244.309 |
208.734 |
213.799 |
|
(c) Other
current liabilities |
33.515 |
35.305 |
39.012 |
|
(d) Short-term
provisions |
3.037 |
8.799 |
4.572 |
|
Total Current
Liabilities (4) |
341.540 |
298.310 |
329.140 |
|
|
|
|
|
|
TOTAL |
562.223 |
466.783 |
477.650 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
206.239 |
144.790 |
167.447 |
|
(ii)
Intangible Assets |
0.059 |
0.059 |
0.059 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
5.652 |
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 |
(1.052) |
|
(d)
Long-term loans and advances |
0.148 |
0.555 |
0.555 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
206.446 |
151.056 |
167.009 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
47.503 |
36.493 |
64.397 |
|
(c) Trade
receivables |
259.074 |
202.991 |
177.767 |
|
(d) Cash and
bank balances |
19.005 |
17.884 |
19.963 |
|
(e) Short-term
loans and advances |
30.195 |
58.359 |
48.514 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
355.777 |
315.727 |
310.641 |
|
|
|
|
|
|
TOTAL |
562.223 |
466.783 |
477.650 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1075.953 |
1066.899 |
901.561 |
|
|
Other Income |
5.434 |
3.205 |
5.511 |
|
|
TOTAL |
1081.387 |
1070.104 |
907.072 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
775.692 |
742.872 |
675.391 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.368) |
26.891 |
8.411 |
|
|
Employee benefit expense |
108.695 |
74.128 |
49.237 |
|
|
Other expenses |
109.291 |
118.193 |
99.430 |
|
|
TOTAL |
986.310 |
962.084 |
832.469 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
95.077 |
108.020 |
74.603 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
23.906 |
30.347 |
36.522 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
71.171 |
77.673 |
38.081 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
30.774 |
28.592 |
35.040 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
40.397 |
49.081 |
3.041 |
|
|
|
|
|
|
|
Less |
TAX |
13.995 |
16.680 |
2.317 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
26.402 |
32.401 |
0.724 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
124.990 |
136.441 |
148.536 |
|
|
TOTAL EARNINGS |
124.990 |
136.441 |
148.536 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
216.093 |
104.073 |
74.274 |
|
|
Capital Goods |
41.900 |
3.840 |
8.631 |
|
|
TOTAL IMPORTS |
257.993 |
107.913 |
82.906 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
29.739 |
36.496 |
0.815 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
16.685 |
17.477 |
27.011 |
|
Net cash flows from (used in) operations |
75.208 |
101.437 |
74.155 |
|
Net cash flows from (used in) operating activities |
73.988 |
87.277 |
70.359 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
87.89 |
69.45 |
71.97 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
4.15 |
5.26 |
5.07 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
114.96 |
102.56 |
115.54 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
2.00 |
2.96 |
1.16 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.46 |
0.72 |
0.45 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.70 |
0.71 |
0.81 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.65 |
0.53 |
1.10 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
1.95 |
2.00 |
2.82 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
1.18 |
1.01 |
1.44 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
3.98 |
3.56 |
2.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
2.45 |
3.04 |
0.08 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
4.70 |
6.94 |
0.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
15.05 |
21.75 |
0.62 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.04 |
1.06 |
0.94 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.90 |
0.94 |
0.75 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.31 |
0.32 |
0.24 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
12.89 |
8.85 |
14.49 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
1.04 |
1.06 |
0.94 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
8.878 |
8.878 |
8.878 |
|
Reserves & Surplus |
107.707 |
140.108 |
166.510 |
|
Net
worth |
116.585 |
148.986 |
175.388 |
|
|
|
|
|
|
Long-term borrowings |
29.882 |
15.601 |
37.053 |
|
Short term borrowings |
71.757 |
45.472 |
60.679 |
|
Current maturities of
long-term debts |
27.011 |
17.477 |
16.685 |
|
Total
borrowings |
128.650 |
78.550 |
114.417 |
|
Debt/Equity
ratio |
1.103 |
0.527 |
0.652 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
901.561 |
1066.899 |
1075.953 |
|
|
|
18.339 |
0.849 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
901.561 |
1066.899 |
1075.953 |
|
Profit/ (Loss) |
0.724 |
32.401 |
26.402 |
|
|
0.08
% |
3.04
% |
2.45
% |
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 |
|
|
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 |
BACKGROUND
The company was incorporated on 12th December 2000 under the provisions of Companies Act 1956. The company is engaged in the manufacturing and selling PVC sheets and Films. The company caters to both the domestic and international markets. The company has manufacturing units at Daman (Union Territory of India) with Head Office in Mumbai.
BRIEF DESCRIPTION OF
THE COMPANY’S WORKING DURING THE YEAR AND FUTURE OUTLOOK
There has been no change in the business of the Company during the financial year ended 31st March, 2017.
The highlights of the Company’s performance are as under:-
i. Revenue from operations (net) amounts to INR 1070.104 Million as compared to previous year’s INR 1081.387 Million
ii. Expenses of the Company for the current year is INR 986.310 Million as compared to previous year expenses of INR 962.084 Million
iii. The profit for the current year is INR 26.402 Million as compared to previous year’s profits of INR 32.401 Million
iv. Earnings per share (EPS) for the current year is INR 29.74 as compared to last year’s EPS of INR 36.50
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
2.864 |
2.864 |
|
Loans and advances from directors |
5.010 |
5.010 |
|
|
|
|
|
Total |
7.874 |
7.874 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G79601282 |
100160907 |
HDFC BANK LIMITED |
05/03/2018 |
- |
- |
115000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI – 400013, MAHARASHTRA, INDIA |
|
2 |
G60971413 |
100132542 |
HDFC BANK LIMITED |
24/10/2017 |
- |
- |
226500000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI – 400013, MAHARASHTRA, INDIA |
|
3 |
G05309604 |
90237463 |
Indian Overseas Bank |
19/11/2001 |
21/04/2016 |
- |
333300000.0 |
BANDRA (WEST) BRANCH, RADHASOAMI APARTMENTS, T.P.S. III, 36TH ROAD, BANDRA (WEST), MUMBAI – 400050, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
3.950 |
3.950 |
|
Other money for which company is contingently liable |
60.797 |
58.955 |
|
Total |
64.747 |
62.905 |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.46 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
PON |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.