|
|
|
MIRA INFORM REPORT
|
Report No. : |
501860 |
|
Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
NOVATEUR ELECTRICAL AND DIGITAL SYSTEMS PRIVATE LIMITED (w.e.f.
21.03.2012) |
|
|
|
|
Formerly Known
As : |
INDO ASIAN ELECTRIC PRIVATE LIMITED (w.e.f. 14.04.2011) ERA ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
61/62, 6th Floor, Kalpataru Square, Kondivita Road, Off
Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-30416200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
11.08.2010 |
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|
|
|
Com. Reg. No.: |
11-206487 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 10798.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909MH2010PTC206487 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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|
TIN No.: |
27860792159 |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCE4671N |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCE4671N1Z8 |
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|
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|
Legal Form : |
Private Limited Liability Company. |
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|
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|
Line of Business
: |
Subject is engaged in trading and manufacturing of Electrical Products. [Registered Activity] |
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|
No. of Employees
: |
Information declined by the management
|
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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 2010. It operates as a subsidiary
of B. Ticino SpA, Italy. It is engaged in trading and manufacturing of
electrical products. As per available financials for the year 2016, the company has
reported decent increase in its sales turnover along with profitability. Further, the management of the company has infused additional capital
during the year which has improved the networth position. However, the company has reported accumulated losses of the earlier
years. The company receives strong managerial and financial support from its
holding company. Business is active. Payments seems to be usually correct. In a view of aforesaid, the company can be considered for business
dealings with usual trade terms and conditions. Note: As per registrar of companies date of balance sheet (i.e.
financial field) is shown as 31.03.2017 but documents related to financial
for the year 31.03.2017 are not available from any sources. |
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 |
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
31-03-2016.
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 05.04.2018
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 : |
Mrs. Scarlette Almeida |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-22-30416200 |
|
Date : |
04.04.2018 |
LOCATIONS
|
Registered Office : |
61/62, 6th Floor, Kalpataru Square, Kondivita Road, Off Andheri-Kurla
Road, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-30416200 |
|
Fax No.: |
91-22-30416201 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Jean Charles Thuard |
|
Designation : |
Managing Director |
|
Address : |
Flat No.601, 6th Floor, Writer Residence St. Leo Road, CTS No.462,
Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1956 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06458087 |
|
|
|
|
Name : |
Chellappan Ramaswamy |
|
Designation : |
Director |
|
Address : |
New No.10, Old No. 8, Visweswarapuram, Mylapore, Chennai – 600004,
Tamilnadu, India |
|
Date of Birth/Age : |
08.05.1953 |
|
Date of Appointment : |
29.05.2012 |
|
DIN No.: |
00016958 |
|
|
|
|
Name : |
Mrs. Urvashi Dipaksinh Morarji |
|
Designation : |
Director |
|
Address : |
Vasant Vihar 8, Capmichael Road, Mumbai – 400026, Maharahstra, India |
|
Date of Birth/Age : |
08.10.1926 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
00922217 |
|
|
|
|
Name : |
Mr. Michael Paul Carter |
|
Designation : |
Director |
|
Address : |
19, Rue Jules Rathgeber, 67100, Strasbourg, France |
|
Date of Birth/Age : |
16.05.1958 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
01807488 |
|
|
|
|
Name : |
Mr. Mukesh Omprakash Chawla |
|
Designation : |
Director |
|
Address : |
A/3104, Oberoi Springs CHS. Limited, (Excel Indus) No.705 Etc Off. New
Link Road, Near Monginis Cake Factory, Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
Date of Birth/Age : |
13.03.1959 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
02698963 |
|
|
|
|
Name : |
Mr. David Beugin |
|
Designation : |
Director |
|
Address : |
5, Lotissement, LA Mauriniere, Montmeyran France 26120 |
|
Date of Birth/Age : |
16.09.1974 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
05287508 |
|
|
|
|
Name : |
Mr. Sameer Saxena |
|
Designation : |
Additional Director |
|
Address : |
67, Ground Floor, Mandakini Enclave, Alaknanda, Kalkaji, New Delhi –
110019, India |
|
Date of Appointment : |
13.05.2015 |
|
DIN No.: |
07182599 |
|
|
|
|
Name : |
Mr. Ronan Nicolas Armand Marc |
|
Designation : |
Additional Director |
|
Address : |
B-67/3, Second Floor, Fateh Nagar, New Delhi – 110018, India |
|
Date of Appointment : |
13.05.2015 |
|
DIN No.: |
07183318 |
|
|
|
|
Name : |
Darminder Singh Tiwana |
|
Designation : |
Director |
|
Address : |
23, Chemin, De Puy Mery Le Vigen 87110 Fr |
|
Date of Appointment : |
19.02.2016 |
|
DIN No.: |
07411101 |
|
|
|
|
Name : |
Mr. Pranav Kumar Ranade |
|
Designation : |
Additional Director |
|
Address : |
11 Ishwar Nagar, Mathura Road, New Delhi – 110055, India |
|
Date of Birth/Age : |
10.11.1947 |
|
Date of Appointment : |
05.12.2011 |
|
DIN No.: |
00005359 |
KEY EXECUTIVES
|
Name : |
Ranjeet Kaur |
|
Designation : |
Company Secretary |
|
Address : |
B-67/3, Second Floor, Fateh Nagar, New Delhi – 110018, India |
|
Date of Birth/Age : |
02.01.1979 |
|
Date of Appointment : |
24.02.2011 |
|
PAN No: |
ARLPK1888L |
|
|
|
|
Name : |
Mrs. Scarlette Almeida |
|
Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Legrand France S.A., France |
|
9999 |
|
Legrand Nederland BV, Netherland |
|
525446754 |
|
B. Ticino S.P.A., Italy |
|
554399846 |
|
|
|
|
|
Total |
|
1079856599 |
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Legrand France S.A., France |
|
9999 |
|
Legrand Nederland BV, Netherland |
|
445446754 |
|
B. Ticino S.P.A., Italy |
|
554399846 |
|
|
|
|
|
Total |
|
999856599 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Trading and Manufacturing of
Electrical Products. [Registered Activity] |
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Products / Services
: |
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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 : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
|
||||||||||||||||||||||
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Auditors : |
|
|
Name : |
LoveLock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 400028, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFL5878L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company :
(As on 2017) |
|
|
|
|
|
Subsidiaries: (As
on 2017) |
|
|
|
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|
Ultimate Holding
Company : |
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|
|
|
|
Fellow Subsidiaries
: |
|
CAPITAL STRUCTURE
AFTER 28.09.2017
Authorised Capital : INR 25000.000 Million
Issued, Subscribed & Paid-up Capital : INR 15224.932
Million
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2499960000 |
Equity Shares |
INR 10/- each |
INR 24999.600Million |
|
40000 |
Preference Shares |
INR 10/- each |
INR 0.400 Million |
|
|
|
|
|
|
|
Total |
|
INR 25000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
999856599 |
Equity Shares |
INR 10/- each |
INR 9998.566
Million |
|
|
|
|
|
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2499960000 |
Equity Shares |
INR 10/- each |
INR 24999.600Million |
|
40000 |
Preference Shares |
INR 10/- each |
INR 0.400 Million |
|
|
|
|
|
|
|
Total |
|
INR 25000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1079856599 |
Equity Shares |
INR 10/- each |
INR
10798.566 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10798.600 |
6398.600 |
6398.600 |
|
(b) Reserves & Surplus |
(3085.500) |
(6059.200) |
(6086.600) |
|
(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) |
7713.100 |
339.400 |
312.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7887.700 |
13400.700 |
13409.500 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
63.600 |
55.400 |
43.100 |
|
(d) long-term
provisions |
491.100 |
477.700 |
311.000 |
|
Total Non-current
Liabilities (3) |
8442.400 |
13933.800 |
13763.600 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
3027.200 |
2706.000 |
2788.300 |
|
(c) Other
current liabilities |
1004.400 |
914.300 |
1344.700 |
|
(d) Short-term
provisions |
256.200 |
234.500 |
267.100 |
|
Total Current
Liabilities (4) |
4287.800 |
3854.800 |
4400.100 |
|
|
|
|
|
|
TOTAL |
20443.300 |
18128.000 |
18475.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1566.300 |
1542.600 |
1480.800 |
|
(ii)
Intangible Assets |
2056.900 |
4001.000 |
5831.700 |
|
(iii) Capital
work-in-progress |
13.200 |
80.100 |
71.600 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
885.900 |
885.900 |
885.900 |
|
(c) Deferred tax assets (net) |
721.600 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
988.000 |
711.000 |
634.500 |
|
(e) Other
Non-current assets |
187.800 |
106.700 |
112.100 |
|
Total Non-Current
Assets |
6419.700 |
7327.300 |
9016.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3173.800 |
2515.000 |
3222.300 |
|
(c) Trade
receivables |
4710.700 |
3976.300 |
3826.700 |
|
(d) Cash
and cash equivalents |
5246.200 |
3556.500 |
1833.800 |
|
(e)
Short-term loans and advances |
614.300 |
662.500 |
520.200 |
|
(f) Other
current assets |
278.600 |
90.400 |
56.100 |
|
Total
Current Assets |
14023.600 |
10800.700 |
9459.100 |
|
|
|
|
|
|
TOTAL |
20443.300 |
18128.000 |
18475.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
20953.700 |
19827.500 |
18375.400 |
|
|
|
Other Income |
558.000 |
452.000 |
268.600 |
|
|
|
TOTAL |
21511.700 |
20279.500 |
18644.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
6811.000 |
6254.400 |
6879.800 |
|
|
|
Purchases of Stock-in-Trade |
4440.100 |
3881.800 |
3795.100 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(437.000) |
486.900 |
(272.900) |
|
|
|
Employees benefits expense |
2724.200 |
2507.700 |
2224.100 |
|
|
|
Other expenses |
3385.800 |
3224.700 |
3207.300 |
|
|
|
TOTAL |
16924.100 |
16355.500 |
15833.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4587.600 |
3924.000 |
2810.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1182.300 |
1230.000 |
1233.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3405.300 |
2694.000 |
1577.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2215.600 |
2664.500 |
2658.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1189.700 |
29.500 |
(1081.200) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(684.000) |
2.100 |
(5.200) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1873.700 |
27.400 |
(1076.000) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
NA |
1377.200 |
1149.600 |
|
|
TOTAL EARNINGS |
NA |
1377.200 |
1149.600 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2355.000 |
2442.600 |
|
|
|
Components and Stores parts |
NA |
5.400 |
2.100 |
|
|
|
Stock in trade |
NA |
990.300 |
1108.100 |
|
|
|
Capital Goods |
NA |
23.100 |
85.800 |
|
|
TOTAL IMPORTS |
NA |
3373.800 |
3638.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.72 |
0.04 |
(1.68) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
2393.300 |
3114.500 |
1215.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
82.06 |
73.20 |
76.01 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.45 |
4.99 |
4.80 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
98.21 |
97.44 |
95.34 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.45 |
1.56 |
0.87 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.26 |
0.70 |
0.38 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.60 |
0.95 |
0.96 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.02 |
39.48 |
42.98 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.56 |
11.36 |
14.10 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.47 |
16.57 |
23.67 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.88 |
3.19 |
2.28 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
8.94 |
0.14 |
-5.86 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
9.17 |
0.15 |
-5.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
24.29 |
8.07 |
-344.87 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.27 |
2.80 |
2.15 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.53 |
2.15 |
1.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.38 |
0.02 |
0.02 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.73 |
2.09 |
2.10 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.27 |
2.80 |
2.15 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
6398.600 |
6398.600 |
10798.600 |
|
Reserves & Surplus |
(6086.600) |
(6059.200) |
(3085.500) |
|
Net
worth |
312.000 |
339.400 |
7713.100 |
|
|
|
|
|
|
Long-term borrowings |
13409.500 |
13400.700 |
7887.700 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
13409.500 |
13400.700 |
7887.700 |
|
Debt/Equity
ratio |
42.979 |
39.484 |
1.023 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
18375.400 |
19827.500 |
20953.700 |
|
|
|
7.902 |
5.680 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
18375.400 |
19827.500 |
20953.700 |
|
Profit/ (Loss) |
(1076.000) |
27.400 |
1873.700 |
|
|
(5.86%) |
0.14% |
8.94% |
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 |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
LONG TERM
BORROWING |
|
|
|
Deferred sales tax loan |
100.400 |
113.400 |
|
Fully convertible debentures intercorporate |
7787.300 |
13287.300 |
|
|
|
|
|
Total |
7887.700 |
13400.700 |
|
|
|
|
BACKGROUND
Subject was incorporated on 11th August, 2010 as Era Electricals Private Limited. Subsequently, the name of the company was changed from Era Electricals Private Limited to Indo Asian Electric Private Limited on 14th April, 2011 and from Indo Asian Electric Private Limited to Novateur Electrical and Digital Systems Private Limited on 21st March, 2012.
The company is engaged in trading and manufacturing of Electrical Products and has manufacturing plants in India and operates across the country through stockists and retail outlets. The company offers a wide range of products in the categories of Energy Distribution, Wiring Devices, Uninterrupted Power Supply Systems (UPS), Home Automation, Structured Cabling, Lighting Management Solutions, Cable Management, Rack Solutions and Industrial Application Products.
COMPANY’S PERFORMANCE
During the year, Novateur Electrical and Digital Systems Private Limited delivered revenue of INR 21511.700 Million. In 2015-16, Company introduced Elvira wiring devices range and range of Power Products viz. Optium MCCB and Optibreak ACB in its Indo Asian division. Company has launched under its Legrand division new distribution board viz. Ekinox3, new set of MCB viz. DX3. Further, under the Numeric division, Company launched new three phase UPS (10 to 30 KVA) to support the flow business through its distributor.
The Board of Directors expects a good growth of the Company as a result of recent launches of new products by the Company.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
Y10328894 |
90226103 |
07/11/1996 |
- |
- |
36500000.0 |
WORLI BRANCH, MUMBAI, MAHARASHTRA, INDIA |
|
|
2 |
Y10328741 |
90225950 |
23/03/1994 |
22/07/1999 |
- |
67300000.0 |
WORLI BRANCH, MUMBAI, MAHARASHTRA, INDIA |
|
|
3 |
Y10328727 |
90225936 |
15/12/1993 |
13/02/1995 |
- |
11000000.0 |
NIRMAL 1 ST FLOOR; NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
|
|
4 |
Y10328714 |
90225923 |
19/09/1993 |
29/07/1993 |
- |
38500000.0 |
WORLI BRANCH, MUMBAI, MAHARASHTRA, INDIA |
|
|
5 |
Y10328705 |
90225914 |
29/07/1993 |
- |
- |
2000000.0 |
WORLI BRANCH, MUMBAI, MAHARASHTRA, INDIA |
|
|
6 |
Y10328701 |
90225910 |
18/06/1993 |
- |
- |
8000000.0 |
CUMBALLA HILL BRANCH9 - A; NS PATKAR MARG, MUMBAI-400026, MAHARASHTRA, INDIA |
|
|
7 |
Y10328691 |
90225900 |
15/04/1993 |
12/09/1996 |
- |
7000000.0 |
INDUSTRIAL FINANCE BRANCH239; VIDHAN BHAWAN MARG; NARIMAN POINT, MUMBAI-400021, MAHARASHTRA, INDIA |
|
|
8 |
Y10328618 |
90225827 |
19/09/1991 |
29/07/1993 |
- |
2500000.0 |
WORLI BRANCH, MUMBAI, MAHARASHTRA, INDIA |
|
|
9 |
Y10328590 |
90225799 |
28/02/1991 |
- |
- |
1200000.0 |
WORLI BRANCH, MUMBAI, MAHARASHTRA, INDIA |
|
|
10 |
Y10328512 |
90225721 |
18/01/1990 |
05/08/1994 |
- |
1000000.0 |
WORLI BRANCH, MUMBAI, MAHARASHTRA, INDIA |
FIXED ASSETS
- Land
- Buildings
- 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 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
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.