|
|
|
MIRA INFORM REPORT
|
Report No. : |
501814 |
|
Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
CAPARO ENGINEERING INDIA LIMITED (w. e. f. 10.10.2011) |
|
|
|
|
Formerly Known
As : |
CAPARO ENGINEERING INDIA PRIVATE LIMITED |
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Registered
Office : |
101-104, 1st Floor, Naurang House, 21, Kasturba Gandhi
Marg, New Delhi – 110001 |
|
Tel. No.: |
91-11-43251111 |
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|
|
|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
09.05.2000 |
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|
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Com. Reg. No.: |
55-105609 |
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Capital
Investment / Paid-up Capital : |
INR 9588.182 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U74101DL2000PLC105609 |
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IEC No.: [Import-Export Code No.] |
0504054864 |
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TIN / CST No.: |
07190318576 |
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GSTN : [Goods & Service Tax
Registration No.] |
07AABCC7862N1Z6 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AABCC7862N |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
The
company is engaged in the business of manufacturing, selling and trading of
sheet metal components and allied products for customer in auto sector. [Registered
Activity] |
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|
|
|
No. of Employees
: |
Information denied 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 |
|
Maximum Credit Limit : |
USD 14000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject
is a step-down subsidiary of “Zatalo Finance BVI Hold Co” based in
Switzerland and it was incorporated in the year 2000. As per
Registrar of Companies, the date of filling its financials is shown as
31.03.2017 but documents related to the financials of 31.03.2017 are not
available from other sources. As per
available financials of March 2016, the company has registered a decent
growth in its revenue but has reported losses. Rating takes
into consideration the company’s established track record of business
operations marked by healthy capital base along with average debt coverage
indicators and decent liquidity position. Rating
also takes into account the strong financial and managerial support received
from its holding entity and well experienced management team. However,
rating strength is partially offset by negative reserves of the company. Payments
seems to be slow but correct. In view
of aforesaid, the company can be considered for business dealings at normal
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 |
CARE |
|
Rating |
Long Term Rating= BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
16.03.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating= A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
16.03.2018 |
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 06.04.2018
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
Management Non-Cooperative (91-124-4318000)
91-11-43251111 - Continuously Ringing
LOCATIONS
|
Registered Office/ Factory 1 : |
101-104, 1st Floor, Naurang House, 21, Kasturba Gandhi
Marg, New Delhi – 110001, India |
|
Tel No.: |
91-11-43251111 |
|
Fax No.: |
91-11-43251140 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
Plot No.-7, Maruti JV Complex, Delhi –Gurgaon Road, Gurugram – 122015,
Haryana, India |
|
Tel. No.: |
91-124-4318000 |
|
Fax No.: |
91-124-4016829 |
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Factory 2 : |
Plot No. A-7, Chopanki Industrial Area, Near Bhiwadi, Alwar – 301707,
Rajasthan, India |
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Factory 3: |
Gate No. 1263 to 1264, Alandi Markal, Lonikand Alandi, Devechi, Pune,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Hon Ambar Paul |
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Designation : |
Director |
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|
Address : |
19, Ambika House 9B, Potland Place London W1B1PS GB, United Kingdom |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2016 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
01587096 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Biswajit Ghosh |
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|
Designation : |
Director |
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|
Address : |
Flat No - 1148, Sector- D PKT - 1, Vasant Kunj, Delhi – 110070, India |
||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
11.09.1958 |
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Date of Appointment : |
30.06.2012 |
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DIN No.: |
02475618 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Ms. Anjli Paul |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat 1, Princess House, 42 Farquahar Road, Birmingham B153RE, United
Kingdom |
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|
Date of Appointment : |
30.09.2016 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
02510081 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Akash Paul |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
3 Ambika House 9A Portland Place London W1B1PR GB, United Kingdom |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.09.2017 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00086024 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Kirti Gaind |
|
Designation : |
Company Secretary |
|
Address : |
S-408, Greater Kailash-2, New Delhi – 110048, India |
|
Date of Appointment : |
08.12.2015 |
|
PAN No.: |
AYZPG6061A |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Blue Elephant Finance Limited, |
|
1252147799 |
|
Caparo India Limited, India |
|
15 |
|
Mohit Bhasin * |
|
1 |
|
Biswajit Ghosh * |
|
1 |
|
Ashok Kumar * |
|
1 |
|
Tushar Dey * |
|
1 |
|
Rajesh Kumar Soni * |
|
1 |
|
|
|
|
|
Total |
|
1252147819 |
|
* Beneficial ownership of shares held by Caparo India Limited |
||
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
company is engaged in the business of manufacturing, selling and trading of
sheet metal components and allied products for customer in auto sector.
[Registered Activity] |
||||
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Products / Services
: |
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||||
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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 denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower-B, DLF Cyber City, Phase- II, Gurugram – 122002, Haryana, India |
|
PAN No.: |
AAAFB9852F |
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|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate
Holding Company : |
·
Zatalo Finance BVI Hold Co, Switzerland |
|
|
|
|
Holding
company : |
· Blue Elephant Finance Limited, MAURITIUS |
|
|
|
|
Subsidiary
company : |
· Caparo Vehicle Products India Limited, India · Caparo Mi Steel Processing Private Limited, India |
|
|
|
|
Fellow
Subsidiary company : |
· Caparo Tubes Limited, India · Caparo India Limited, India · Caparo Foundry And Engineering Limited, India · Caparo Financial Solutions Limited, India · Caparo Fasteners Limited, India · Caparo Bio Engineering Limited, India · Caparo Associates Limited, India |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Caparo Vehicles Products (TH) Company Limtied, Thailand · Caparo Vehicle Component INC, United States · Caparo Renewables Limited, India · Caparo Procam Infrastructure Limited, India · Caparo Medical Products Private Limited, India · Caparo Maruti Limited, India · Caparo Engineering and Construction Limited, India · Caparo Componentes Vehiculates, Mexico · Caparo Atlas Fastening, United Kingdom |
|
|
|
|
Others : |
· Caparo Sleep Technology Limited, India · Caparo Power Limited, India · Caparo Autotech Limited, India |
CAPITAL STRUCTURE
AS ON 27.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1350000000 |
Equity Shares |
INR 10/- each |
INR 13500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1252147819 |
Equity Shares |
INR 10/- each |
INR 12521.478 Million |
|
|
|
|
|
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
INR 10/- each |
INR 10000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
958818181 |
Equity Shares |
INR 10/- each |
INR 9588.182 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF
FUNDS |
31.03.2016 (12 Months) |
31.03.2015 (12 Months) |
31.03.2014 (15 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
9588.182 |
7305.721 |
7305.721 |
|
(b) Reserves & Surplus |
(4841.540) |
(4094.246) |
(4481.826) |
|
(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) |
4746.642 |
3211.475 |
2823.895 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2147.196 |
2629.686 |
3351.957 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
24.488 |
0.000 |
7.270 |
|
(d) Long-term
provisions |
99.821 |
83.375 |
70.824 |
|
Total Non-current
Liabilities (3) |
2271.505 |
2713.061 |
3430.051 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
875.398 |
1958.472 |
1883.313 |
|
(b) Trade
payables |
1392.654 |
1417.130 |
1283.203 |
|
(c) Other
current liabilities |
1189.376 |
1519.727 |
1783.872 |
|
(d) Short-term
provisions |
6.519 |
4.709 |
9.200 |
|
Total Current
Liabilities (4) |
3463.947 |
4900.038 |
4959.588 |
|
|
|
|
|
|
TOTAL |
10482.094 |
10824.574 |
11213.534 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6554.964 |
7072.385 |
4733.021 |
|
(ii)
Intangible Assets |
99.828 |
125.594 |
168.973 |
|
(iii)
Capital work-in-progress |
233.085 |
246.205 |
283.098 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
710.152 |
710.152 |
710.151 |
|
(c) Deferred tax assets (net) |
0.000 |
114.414 |
114.414 |
|
(d)
Long-term Loan and Advances |
220.676 |
131.936 |
201.798 |
|
(e) Other
Non-current assets |
35.154 |
12.293 |
24.033 |
|
Total Non-Current
Assets |
7853.859 |
8412.979 |
6235.488 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.033 |
0.033 |
0.033 |
|
(b)
Inventories |
726.687 |
695.032 |
1049.832 |
|
(c) Trade
receivables |
1108.363 |
1075.805 |
1570.251 |
|
(d) Cash
and cash equivalents |
198.754 |
133.536 |
134.029 |
|
(e)
Short-term loans and advances |
560.358 |
403.791 |
1480.777 |
|
(f) Other
current assets |
34.040 |
103.398 |
743.124 |
|
Total
Current Assets |
2628.235 |
2411.595 |
4978.046 |
|
|
|
|
|
|
TOTAL |
10482.094 |
10824.574 |
11213.534 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 (12 Months) |
31.03.2015 (12 Months) |
31.03.2014 (15 Months) |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
6991.476 |
6324.352 |
7931.853 |
|
|
|
|
Other Income |
50.492 |
360.959 |
113.900 |
|
|
|
|
TOTAL |
7041.968 |
6685.311 |
8045.753 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
3429.814 |
3293.177 |
3960.220 |
|
|
|
|
Purchase of Stock-in-trade |
174.672 |
200.247 |
127.839 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
6.129 |
279.839 |
127.391 |
|
|
|
|
Employee Benefits Expenses |
817.332 |
775.293 |
890.751 |
|
|
|
|
Exceptional items |
0.000 |
0.000 |
197.023 |
|
|
|
|
Other Expenses |
2048.437 |
3054.657 |
1896.588 |
|
|
|
|
TOTAL |
6476.384 |
7603.213 |
7199.812 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
565.584 |
(917.902) |
845.941 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
692.877 |
796.689 |
1033.840 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(127.293) |
(1714.591) |
(187.899) |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
471.216 |
570.018 |
852.558 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
(598.509) |
(2284.609) |
(1040.457) |
||
|
|
|
|
|
|
||
|
Less |
TAX |
109.184 |
0.000 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
(707.693) |
(2284.609) |
(1040.457)() |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export of goods calculated on FOB basis |
1214.564 |
637.970 |
576.167 |
|
|
|
TOTAL EARNINGS |
1214.564 |
637.970 |
576.167 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
38.724 |
39.500 |
92.010 |
|
|
|
|
Components and spare parts |
1.932 |
4.910 |
4.036 |
|
|
|
|
Capital Goods |
0.372 |
31.036 |
6.485 |
|
|
|
TOTAL IMPORTS |
41.028 |
75.446 |
102.531 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
(0.87) |
(3.13) |
(1.42) |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
603.359 |
855.882 |
735.656 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
464.603 |
286.765 |
974.026 |
|
Net cash flows from (used in) operating activities |
438.842 |
287.417 |
1179.035 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection
Days (Sundry Debtors /
Income * 365 Days) |
57.86 |
62.09 |
72.26 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.31 |
5.88 |
5.05 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
141.02 |
148.06 |
114.57 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.78 |
(1.32) |
0.81 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.08 |
(0.12) |
0.16 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.59 |
0.77 |
0.81 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.76 |
1.70 |
2.11 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.73 |
1.53 |
1.76 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.45 |
2.32 |
1.84 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.82 |
(1.15) |
0.82 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
(10.12) |
(36.12) |
(13.12) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(6.75) |
(21.11) |
(9.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(14.91) |
(71.14) |
(36.84) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current
Liabilities) |
0.76 |
0.49 |
1.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.55 |
0.35 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.45 |
0.30 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.38 |
0.75 |
0.82 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.76 |
0.49 |
1.00 |
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 |
7305.721 |
7305.721 |
9588.182 |
|
Reserves & Surplus |
(4481.826) |
(4094.246) |
(4841.540) |
|
Net
worth |
2823.895 |
3211.475 |
4746.642 |
|
|
|
|
|
|
Long Term borrowings |
3351.957 |
2629.686 |
2147.196 |
|
Short Term borrowings |
1883.313 |
1958.472 |
875.398 |
|
Current maturities of long term debt |
735.656 |
855.882 |
603.359 |
|
Total
borrowings |
5970.926 |
5444.040 |
3625.953 |
|
Debt/Equity
ratio |
2.114 |
1.695 |
0.764 |
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
|
7931.853 |
6324.352 |
6991.476 |
|
|
|
(20.266) |
10.548 |
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
|
7931.853 |
6324.352 |
6991.476 |
|
Profit/(Loss) |
(1040.457) |
(2284.609) |
(707.693) |
|
|
(13.12%) |
(36.12%) |
(10.12%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9588.182 |
7305.721 |
|
(b) Reserves &
Surplus |
|
(4902.201) |
(4202.429) |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
450.025 |
377.881 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
5136.006 |
3481.173 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2472.462 |
3150.268 |
|
(b) Deferred tax
liabilities (Net) |
|
53.522 |
27.248 |
|
(c) Other long term
liabilities |
|
53.378 |
34.472 |
|
(d) long-term provisions |
|
102.693 |
85.487 |
|
Total Non-current
Liabilities (3) |
|
2682.055 |
3297.475 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
875.398 |
2027.434 |
|
(b) Trade payables |
|
1469.463 |
1510.691 |
|
(c) Other current
liabilities |
|
1488.417 |
1830.411 |
|
(d) Short-term provisions |
|
24.744 |
105.636 |
|
Total Current Liabilities
(4) |
|
3858.022 |
5474.172 |
|
|
|
|
|
|
TOTAL |
|
11676.083 |
12252.820 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
8305.113 |
8868.140 |
|
(ii) Intangible Assets |
|
101.204 |
128.029 |
|
(iii) Capital
work-in-progress |
|
255.207 |
263.618 |
|
(iv) Intangible assets
under development |
|
0.000 |
3.848 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
141.375 |
|
(d) Long-term Loan and Advances |
|
257.613 |
191.389 |
|
(e) Other Non-current
assets |
|
35.154 |
12.293 |
|
Total Non-Current Assets |
|
8954.291 |
9608.692 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.033 |
0.033 |
|
(b) Inventories |
|
777.210 |
754.432 |
|
(c) Trade receivables |
|
1202.012 |
1164.790 |
|
(d) Cash and cash
equivalents |
|
363.154 |
190.490 |
|
(e) Short-term loans and
advances |
|
358.728 |
422.215 |
|
(f) Other current assets |
|
20.655 |
112.168 |
|
Total Current Assets |
|
2721.792 |
2644.128 |
|
|
|
|
|
|
TOTAL |
|
11676.083 |
12252.820 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
8942.074 |
8680.159 |
|
|
Other Income |
|
132.769 |
377.958 |
|
|
TOTAL |
|
9074.843 |
9058.117 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
4714.490 |
5021.827 |
|
|
Purchases of
Stock-in-Trade |
|
176.465 |
208.346 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
8.636 |
268.289 |
|
|
Employees benefits
expense |
|
870.041 |
809.096 |
|
|
Exceptional items |
|
0.000 |
62.280 |
|
|
Other expenses |
|
2311.886 |
3349.042 |
|
|
TOTAL |
|
8081.518 |
9718.880 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
993.325 |
(660.763) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
780.028 |
926.617 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
213.297 |
(1587.380) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
578.353 |
678.250 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
(365.056) |
(2265.630) |
|
|
|
|
|
|
|
Less |
TAX |
|
216.244 |
49.239 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
(581.300) |
(2314.869) |
|
|
|
|
|
|
|
Less/ Add |
MINORITY INTEREST |
|
67.676 |
42.829 |
|
|
|
|
|
|
|
Less/ Add |
SHARE OF PROFIT (LOSS) OF ASSOCIATES |
|
0.000 |
2.359 |
|
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS) FOR PERIOD |
|
(648.976) |
(2355.339) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(0.80) |
(3.23) |
LEGAL CASES
|
HIGH COURT
HIGH COURT
HIGH COURT
|
|
CIVIL JUDGE SENIOR DIVISION, GURGAON Case Details
Case
Type : CS37 Case Status
First
Hearing Date : 28th July 2015 Petitioner and Advocate
1) M/S OMAX AUTOS LTD. Respondent and Advocate
1) M/S CAPARO ENGINEERING INDIA PVT. LTD. Acts
|
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION ABOUT COMPANY
The Company was incorporated in India on 9 May 2000. The Company is engaged in the business of manufacturing, selling and trading of Sheet metal components and allied products for customer in auto sector in and outside India.
FINANCIAL PERFORMANCE
During the year, the company has earned operational revenue of INR 6991.476 million as against INR 6324.352 million during the previous financial year ended 31.03.2015. The total expenditure for the current financial year ended 31.03.2016 is INR 7640.478 million as compared to INR 8969.920 million in the previous financial year. The Company incurred a loss of INR 707.693 million as compared to previous year loss of INR 2284.609 million. The losses are attributable to write off of INR 40.938 million, provisions of INR 84.956 million towards doubtful debts and doubtful advances, foreign exchange loss of INR 21.792 million and overhead expenses during financial year ended on 31st March, 2016.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Bonds/debentures |
341.070 |
341.070 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
93.719 |
0.000 |
|
Loans and advances from related parties |
0.000 |
344.000 |
|
|
|
|
|
Total |
434.789 |
685.070 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G78449915 |
100158084 |
KOTAK MAHINDRA PRIME LIMITED |
31/12/2017 |
- |
- |
600000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
2 |
G80283989 |
100162648 |
KOTAK MAHINDRA PRIME LIMITED |
31/12/2017 |
- |
- |
998000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
3 |
G71512081 |
100142294 |
KOTAK MAHINDRA PRIME LIMITED |
28/11/2017 |
- |
- |
1900000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
4 |
G64561996 |
100135754 |
KOTAK MAHINDRA BANK LIMITED |
27/10/2017 |
- |
- |
400000000.0 |
1ST FLOOR, ASSET AREA 9, IBIS COMMERCIAL BLOCKHOSPITALITIY DIST, DELHI AEROCITYNEW DELHIDL110037IN |
|
5 |
G47737002 |
100107821 |
KOTAK MAHINDRA PRIME LIMITED |
24/05/2017 |
- |
- |
614000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
6 |
G45135365 |
100100931 |
KOTAK MAHINDRA PRIME LIMITED |
30/04/2017 |
- |
- |
813000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
7 |
G39941307 |
100090707 |
KOTAK MAHINDRA PRIME LIMITED |
28/01/2017 |
- |
- |
540000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
8 |
G32168460 |
100070040 |
KOTAK MAHINDRA PRIME LIMITED |
15/12/2016 |
- |
- |
700000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
9 |
G15314784 |
100055578 |
KOTAK MAHINDRA PRIME LIMITED |
03/08/2016 |
- |
- |
900000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
10 |
G06853774 |
100037333 |
KOTAK MAHINDRA PRIME LIMITED |
24/05/2016 |
- |
- |
975000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.06 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.