|
|
|
MIRA INFORM REPORT
|
Report No. : |
502186 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
BVM OVERSEAS LIMITED |
|
|
|
|
Registered
Office : |
119, Kala Sagar Shopping HUB, First Floor, Opposite Saibaba Temple, Sattadhar,
Ahmedabad-380061, Gujarat |
|
Tel. No.: |
91-79-27400500/ 01/ 02/ 03 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
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Date of
Incorporation : |
23.09.2015 |
|
|
|
|
Com. Reg. No.: |
04-084582 |
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|
|
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Capital Investment
/ Paid-up Capital : |
INR 45.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900GJ2015PLC084582 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0815016603 |
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|
|
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TIN / CST No.: |
24073409153 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAGCB4452L |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAGCB4452L2ZL |
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|
|
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Trading of superior quality compact yarn for weaving and knitting operations in domestic as well as export market. (Registered activity) |
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|
|
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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 |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 2015. It is a wholly owned subsidiary of Sintex Industries Limited. The company is a trader and exporter of yarn. As per the financial of 2017, the company has achieved a massive growth in its revenue as compared to the previous year’s revenue and has reported an average net profit margin of 1.33%. The company possesses satisfactory financial position marked by adequate net worth base along with fair liquidity position. Rating takes into consideration the strong financial and managerial support that the company derives from Sintex Industries Limited. Further, Sintex industries Limited have well-established distribution networth with strong brand name and established relationship with its diversified clientele. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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 07.04.2018
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 PARTED BY
|
Name : |
Mr. Nandalal |
|
Designation : |
Accounts and Finance Deputy General Manager |
|
Contact No.: |
91-79-27400500 |
|
Date : |
06.04.2018 |
LOCATIONS
|
Registered Office/Warehouse: |
119, Kala Sagar Shopping HUB, First Floor, Opposite Saibaba Temple,
Sattadhar, Ahmedabad-380061, Gujarat, India |
|
Tel. No.: |
91-79-27400500 / 01 |
|
Mobile No.: |
91-9998822680 (Mr. Satyanarayan Dangayach) 91-9898410121 (Mr. Manthan Shah) 91-9898004178 (Ms. Namita Rashesh Shah) |
|
Fax No.: |
91-79-27400502 |
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E-Mail : |
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Website : |
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Location : |
Rented |
|
Locality : |
Commercial |
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Overseas Office : |
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Amit Dineshchandra Patel |
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|
Designation : |
Director |
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|
Address : |
Vrindavan, Near Manali Apartment, Behind Apang Manav Mandal Workshop, Dr. V.S. Road, Vastrapur, Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
29.01.1966 |
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Date of Appointment : |
23.09.2015 |
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PAN No.: |
ABGPP6259B |
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DIN No.: |
00171035 |
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Other Directorship:
|
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||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Rahul Arunprasad Patel |
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Designation : |
Director |
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Address : |
112, Sunrise Park, Opposite Drive-In Cinema, Thaltej Road, Ahmedabad - 380054, Gujarat, India |
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Date of Birth/Age : |
04.10.1959 |
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Qualification : |
Graduate |
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Date of Appointment : |
23.09.2015 |
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PAN No.: |
ABGPP6268C |
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DIN No.: |
00171198 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Rajeshbhai Balkrishnabhai Parikh |
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Designation : |
Additional Director |
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|
Address : |
3, Nandanvan Society, Near Sardar Garden Ta-Kalol, Gandhinagar Kalol 382721 |
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Date of Birth/Age : |
02.08.1954 |
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Date of Appointment : |
10.07.2017 |
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DIN No.: |
00171231 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Satyanarayan Banwarilal Dangayach |
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Designation : |
Director |
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|
Address : |
Bunglow No.3, Ashwamegh - 7, Near Hasubhai Park, Satellite Road, Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
21.08.1952 |
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Qualification : |
Graduate |
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Date of Appointment : |
23.09.2015 |
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PAN No.: |
AAQPD7228M |
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DIN No.: |
01572754 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Namita Rashesh Shah |
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Designation : |
Additional director |
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|
Address : |
A/62, Skylark Apartment, Behind Siddhivinayak Complex, Shivrajni Cross Road, Satellite, Ahmedabad- 380015, Gujarat, India |
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Date of Birth/Age : |
28.04.1988 |
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Date of Appointment : |
10.07.2017 |
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PAN No.: |
BHLPS9392G |
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DIN No.: |
07141132 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Nandalal |
|
Designation : |
Accounts and Finance Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Sintex Industries Limited, Business, India |
|
4473000 |
|
Amit D. Patel Sintex Industries Limited Industrialist, India |
|
4500 |
|
Rahul A. Patel Sintex Industries Limited, Industrialist, India |
|
4500 |
|
Dinesh B. Patel Sintex Industries Limited, Industrialist, India |
|
4500 |
|
Arun P. Patel Sintex Industries Limited, Industrialist, India |
|
4500 |
|
Satyanarayan B. Dangayach Sintex Industries Limited, Service, India |
|
4500 |
|
Ashoke Kumar Maitra Sintex Industries Limited, Service, India |
|
4500 |
|
|
|
|
|
Total |
|
4500000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
0.60 |
|
Promoter - Bodies
corporate |
99.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of superior quality compact yarn for weaving and knitting operations in domestic as well as export market. (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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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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|
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Bankers : |
|
|
Auditors : |
|
|
Name : |
R Choudhary and Associates Chartered Accountants |
|
Address : |
A/202, Rajshree Avenue, Near Dinesh Hall, Behind Income Tax, Ashram Road Ahmedabad-380009, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAOPC9795L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
L17110GJ1931PLC000454 |
|
|
|
|
Subsidiary Company: |
U45201GJ2009PLC058702 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
INR 10/- each |
INR 45.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
45.000 |
45.000 |
|
(b) Reserves & Surplus |
|
72.844 |
5.186 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
117.844 |
50.186 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
699.113 |
0.000 |
|
(b) Trade payables |
|
1114.448 |
230.597 |
|
(c) Other current liabilities |
|
40.788 |
2.656 |
|
(d) Short-term provisions |
|
24.920 |
0.000 |
|
Total
Current Liabilities (4) |
|
1879.269 |
233.253 |
|
|
|
|
|
|
TOTAL |
|
1997.113 |
283.439 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.000 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.020 |
0.010 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
0.020 |
0.010 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
|
|
(b) Inventories |
|
16.417 |
34.198 |
|
(c) Trade receivables |
|
1564.349 |
205.681 |
|
(d) Cash and cash equivalents |
|
107.829 |
19.121 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
308.498 |
24.429 |
|
Total
Current Assets |
|
1997.093 |
283.429 |
|
|
|
|
|
|
TOTAL |
|
1997.113 |
283.439 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
5073.358 |
258.976 |
|
|
Other Income |
|
134.516 |
4.451 |
|
|
TOTAL
|
|
5207.874 |
263.427 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
4931.919 |
249.614 |
|
|
Expenditure on production,
transportation and other expenditure pertaining to exploration and production
activities |
|
6.535 |
0.000 |
|
|
Other expenses |
|
130.265 |
5.796 |
|
|
TOTAL |
|
5068.719 |
255.410 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
139.155 |
8.017 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
35.737 |
0.231 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
103.418 |
7.786 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
103.418 |
7.786 |
|
|
|
|
|
|
|
Less |
TAX |
|
35.760 |
2.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
67.658 |
5.186 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
15.04 |
1.15 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
|
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
|
(598.579) |
(25.648) |
|
Net cash flows from (used in) operating activities |
|
(574.669) |
(25.648) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
112.55 |
289.89 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
3.24 |
1.26 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
82.48 |
337.19 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
8.48 |
0.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.94 |
0.82 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
5.93 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
15.95 |
4.65 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
3.89 |
34.71 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
((PAT / Sales) * 100) |
% |
|
1.33 |
2.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
3.39 |
1.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
57.41 |
10.33 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
1.06 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
1.05 |
1.07 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.06 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
15.54 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
1.06 |
1.22 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Share Capital |
45.000 |
45.000 |
|
Reserves & Surplus |
5.186 |
72.844 |
|
Net
worth |
50.186 |
117.844 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
699.113 |
|
Total
borrowings |
0.000 |
699.113 |
|
Debt/Equity
ratio |
0.000 |
5.933 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
258.976 |
5073.358 |
|
|
|
1,859.007 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
258.976 |
5073.358 |
|
Profit |
5.186 |
67.658 |
|
|
2.00% |
1.33% |
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 |
No |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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 |
REVIEW OF OPERATIONS
The Company is wholly owned subsidiary of Sintex Industries Limited operating in trading of superior quality compact yarn for weaving and knitting operations in domestic as well as export market. The Company has started its trading activity in last quarter of FY 2015-16. The company has achieved annual turnover of INR 5207.874 Million with EBIDTA of INR 139.155 Million (2.72%) in its first full financial year as against INR 263.427 Million for prior year with EBIDTA of INR 8.017 Million (3.10%). Of the total turnover, about 79% is exported and the balance is marketed domestically during FY 2016-17.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Rupee term loans from banks |
699.113 |
0.000 |
|
|
|
|
|
Total |
699.113 |
0.000 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G80775638 |
100066998 |
RBL BANK LIMITED |
23/11/2016 |
08/03/2018 |
- |
500000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMa416001IN |
|
2 |
G69003556 |
100021164 |
HDFC BANK LIMITED |
26/02/2016 |
16/08/2017 |
- |
500000000.0 |
HDFC Bank House, Senapati Bapat MargLower Parel WMumbaiMH400013IN |
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 records 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 64.99 |
|
|
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
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.