|
|
|
MIRA INFORM REPORT
|
Report No. : |
501784 |
|
Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
N. RANGA RAO AND SONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.1553, Vanivilas Road, P.B No.52, Mysore – 570004, Karnataka |
|
Tel. No.: |
91-821-2442617 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
23.12.2014 |
|
|
|
|
Com. Reg. No.: |
08-077891 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 300.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900KA2014PTC077891 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
29AAECN8103G1ZH |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECN8103G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and trading in agarbathies, incense sticks, dhoop, fragrances and allied products etc. [Registered activity and also confirmed by management] |
|
|
|
|
No. of Employees
: |
2000 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2014 and it is having satisfactory track. It is the largest manufacturer of incense sticks in India. It sells incense sticks under the umbrella brand name ‘Cycle Agarbatti’. The incense sticks are sold domestically and also exported to about 40 countries globally. Management of the company has not filed its financials of 2017 with government department. For the financial year 2016, the company has achieved healthy revenue from its operation and maintained average profit margin of 1.73%. Rating takes into consideration sound financial profile of the company marked by adequate networth base and average debt balance sheet. Further, rating also derives strength from its long operational track records along with favourable presence in the industry, rich experience of promoters, strong brand image as well as established market position in the organized segment and wide distribution network with pan India presence. Also from indirect sources we could find that company has achieved total operating income of INR 7363.600 million and earned PAT of INR 42.400 million for year 2017. However, rating strength is partially offset by increasing competition both from organized and unorganized segment, working capital intensive nature of operations with high utilization of working capital limits and exposure to forex risk. Trade relations are reported as fair. Business is active. Payments are seems to be usually correct. In view of the 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 |
CARE |
|
Rating |
Long term Rating= A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
29.03.2018 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Santosh |
|
Designation : |
Senior marketing Manager |
|
Contact No.: |
91-9964072629 |
|
Date : |
04.04.2018 |
LOCATIONS
|
Registered Office : |
No.1553, Vanivilas Road, P.B No.52, Mysore – 570004, Karnataka, India |
|
Tel. No.: |
91-821-2442617, 2521227 |
|
Mobile No.: |
91-9964072629 (Mr. Santosh) |
|
Fax No.: |
91-821-2481185, 2520350 |
|
E-Mail : |
|
|
Website: |
|
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory : |
Located at: ·
Mysore ·
Chennai · Ambala, Haryana · Gaya, Bihar ·
Assam |
|
|
|
|
Branch Office : |
Plot No.75/A, Kh. No. 50/12, 1st Floor, Swaran Park,
Mundka, Delhi – 110041, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Kiran Vasu Ranga |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
2980, 5th Main, Gokulam Road, Mysore – 570002, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.12.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00235087 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Anirudh Murthy Ranga |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
2634, II Main Road, Sita Ranga, Vani Vilasa Mohalla, Mysore – 570002,
Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.12.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00235183 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Pavan Guru Ranga |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
3005, Gokulam Road, Vani Vilasa Mohalla, Mysore – 570002, Karnataka,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.12.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00235202 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Arjun Murthy Ranga |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
2634, II Main Road, Sita Ranga, Vani Vilasa Mohalla, Mysore – 570002,
Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.04.1974 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.12.2014 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AENPR3774F |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00235226 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vishnu Das Vasu Ranga |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
2980 5th Main, Gokulam Road, Mysore – 570002, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.08.1983 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.12.2014 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AEIPR4807E |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01901910 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Suresh Mavathur Ramachandra |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1103 MIG, 6th Main, Vivekananada Nagar, Mysore – 570023, Karnataka,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.11.1967 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.12.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AMCPS7768K |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02074006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
K Sarina Chouta |
|
Designation : |
Company Secretary |
|
Address : |
No. 5, Devi Krupa Temple Road, Jayalakshmipuram, Mysore – 570012, Karnataka, India |
|
Date of Appointment : |
14.09.2015 |
|
PAN No.: |
ABMPH0063K |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Arjun Murthy Ranga |
|
9003000 |
|
Pavan Guru Ranga |
|
21007000 |
|
|
|
|
|
Total |
|
30010000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2016
|
Category |
Percentage |
|
Promoters [Others
(Trust)] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and trading in agarbathies, incense sticks, dhoop, fragrances and allied products etc. [Registered activity and also confirmed by management] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
“Cycle Agarbatti” |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
|
||||
|
Countries : |
|
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment and Others (DD / RTGS) |
||||
|
|
|
||||
|
Purchasing : |
Advance Payment |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Distributors
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
2000 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
B S Ravikumar and Associates Chartered Accountants |
|
Address : |
#73, 2nd Floor, Sri Madhvesha Complex, Malai, Mahadeshwara Road, Nazarbad, Mysore – 570010, Karnataka, India |
|
PAN No.: |
AADFB1008N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary
companies : |
· Rangsons Inc., USA · N.R.R Exports FZE, Dubai, United Arab Emirates · N Ranga Rao and Sons Singapore Private Limited, Singapore · Lao Incense and Natural Sole Co Limited, Lao People's Democratic Republic ·
Rangata Limited, Vietnam |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
· Ripple Fragrances Exports Private Limited · Arjathi Trading Private Limited · Spiritual Products Private Limited · Manmohak Creations · Rangsons Marketing Services Private Limited · Ripple Fragrances Private Limited · Suwanda Industries Private Limited, Sri Lanka · N R Family Trust · Ranga Family Trust · Manjunatheshwara Aromatics · Mudhul Chemicals Private Limited ·
Brindavan Clay Tiles and Industries Private
Limited |
CAPITAL STRUCTURE
AFTER 26.09.2016
Authorised Capital : INR
450.000 Million
Issued, Subscribed & Paid-up Capital : INR 339.783 Million
AS ON 26.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30100000 |
Equity Shares |
INR 10/- each |
INR 301.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30010000 |
Equity Shares |
INR 10/- each |
INR 300.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
300.100 |
0.100 |
|
(b) Reserves & Surplus |
|
59.892 |
(0.074) |
|
(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) |
|
359.992 |
0.026 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
1559.483 |
4.954 |
|
(b) Deferred tax liabilities (Net) |
|
39.479 |
0.000 |
|
(c) Other long term
liabilities |
|
0.994 |
0.000 |
|
(d) Long-term
provisions |
|
21.898 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
1621.854 |
4.954 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
934.850 |
0.000 |
|
(b) Trade
payables |
|
354.661 |
0.000 |
|
(c) Other
current liabilities |
|
228.167 |
0.074 |
|
(d) Short-term
provisions |
|
50.552 |
0.000 |
|
Total Current
Liabilities (4) |
|
1568.230 |
0.074 |
|
|
|
|
|
|
TOTAL |
|
3550.076 |
5.054 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1237.752 |
0.000 |
|
(ii)
Intangible Assets |
|
120.633 |
0.000 |
|
(iii)
Capital work-in-progress |
|
5.228 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
169.717 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
|
161.851 |
0.617 |
|
(e) Other
Non-current assets |
|
33.567 |
0.000 |
|
Total Non-Current
Assets |
|
1728.748 |
0.617 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1164.631 |
0.000 |
|
(c) Trade
receivables |
|
375.657 |
0.000 |
|
(d) Cash
and cash equivalents |
|
55.020 |
1.385 |
|
(e)
Short-term loans and advances |
|
142.869 |
0.000 |
|
(f) Other
current assets |
|
83.151 |
3.052 |
|
Total
Current Assets |
|
1821.328 |
4.437 |
|
|
|
|
|
|
TOTAL |
|
3550.076 |
5.054 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
6433.700 |
0.000 |
|
|
|
|
Other Income |
|
15.535 |
0.000 |
|
|
|
|
TOTAL |
|
6449.235 |
0.000 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
|
3086.743 |
0.000 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
(39.187) |
0.000 |
|
|
|
|
Employee Benefits Expenses |
|
532.572 |
0.000 |
|
|
|
|
Exceptional Items |
|
19.022 |
0.000 |
|
|
|
|
Other Expenses |
|
2332.607 |
0.074 |
|
|
|
|
TOTAL |
|
5931.757 |
0.074 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
517.478 |
(0.074) |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
|
280.421 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
237.057 |
(0.074) |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
|
69.802 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
167.255 |
(0.074) |
||
|
|
|
|
|
|
||
|
Less |
TAX |
|
55.709 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
|
111.546 |
(0.074) |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export of goods calculated on FOB basis |
|
356.541 |
0.000 |
|
|
|
TOTAL EARNINGS |
|
356.541 |
0.000 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
|
213.370 |
0.000 |
|
|
|
|
Capital Goods |
|
13.531 |
0.000 |
|
|
|
TOTAL IMPORTS |
|
226.901 |
0.000 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
|
|
|
||
|
|
-
Basic |
|
3.72 |
(7.41) |
||
|
|
-
Diluted |
|
1.31 |
0.00 |
||
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
7363.600 |
|
|
|
|
|
|
Profit/Loss for the year |
|
|
42.400 |
The above information has been taken from indirect source.
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
|
106.679 |
0.000 |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flow from (used in) operations |
|
448.937 |
(3.669) |
|
Net cash flows from (used in) operating activities |
|
382.040 |
(3.669) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
21.31 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
17.13 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
41.94 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
0.44 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
0.38 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
0.91 |
0.99 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
7.23 |
190.54 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
4.36 |
2.85 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
3.79 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
1.85 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
|
1.73 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
3.14 |
(1.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
30.99 |
(284.62) |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
1.16 |
59.96 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
0.42 |
59.96 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
0.10 |
0.01 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
8.67 |
49.54 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
1.16 |
59.96 |
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 |
|
|
|
INR
In Million |
INR
In Million |
|
Share Capital |
|
0.100 |
300.100 |
|
Reserves & Surplus |
|
(0.074) |
59.892 |
|
Net
worth |
|
0.026 |
359.992 |
|
|
|
|
|
|
Long Term borrowings |
|
4.954 |
1559.483 |
|
Short Term borrowings |
|
0.000 |
934.850 |
|
Current maturities of long term debt |
|
0.000 |
106.679 |
|
Total
borrowings |
|
4.954 |
2601.012 |
|
Debt/Equity
ratio |
|
190.538 |
7.225 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2015 |
31.03.2016 |
|
|
|
INR
In Million |
INR
In Million |
|
Sales
|
|
0.000 |
6433.700 |
|
|
|
|
|
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2015 |
31.03.2016 |
|
|
|
INR
In Million |
INR
In Million |
|
Sales
|
|
0.000 |
6433.700 |
|
Profit/(Loss) |
|
(0.074) |
111.546 |
|
|
|
|
1.73% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
|
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
300.100 |
|
(b) Reserves &
Surplus |
|
|
8.441 |
|
(c) Money received
against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
|
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
|
308.541 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
1559.483 |
|
(b) Deferred tax
liabilities (Net) |
|
|
39.479 |
|
(c) Other long term
liabilities |
|
|
0.994 |
|
(d) long-term provisions |
|
|
21.898 |
|
Total Non-current
Liabilities (3) |
|
|
1621.854 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
934.850 |
|
(b) Trade payables |
|
|
377.147 |
|
(c) Other current
liabilities |
|
|
232.068 |
|
(d) Short-term provisions |
|
|
54.734 |
|
Total Current Liabilities
(4) |
|
|
1598.799 |
|
|
|
|
|
|
TOTAL |
|
|
3529.194 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
1291.708 |
|
(ii) Intangible Assets |
|
|
138.969 |
|
(iii) Capital
work-in-progress |
|
|
5.228 |
|
(iv) Intangible assets
under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
8.873 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
138.408 |
|
(e) Other Non-current
assets |
|
|
33.567 |
|
Total Non-Current Assets |
|
|
1616.753 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
1189.515 |
|
(c) Trade receivables |
|
|
411.505 |
|
(d) Cash and cash
equivalents |
|
|
80.068 |
|
(e) Short-term loans and
advances |
|
|
145.337 |
|
(f) Other current assets |
|
|
86.016 |
|
Total Current Assets |
|
|
1912.441 |
|
|
|
|
|
|
TOTAL |
|
|
3529.194 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
|
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
6741.700 |
|
|
Other Income |
|
|
11.946 |
|
|
TOTAL |
|
|
6753.646 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
3387.103 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(44.354) |
|
|
Employees benefits
expense |
|
|
537.631 |
|
|
Exceptional Items |
|
|
19.023 |
|
|
Other expenses |
|
|
2357.185 |
|
|
TOTAL |
|
|
6256.588 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
497.058 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
280.420 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
216.638 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
72.990 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
143.648 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
55.910 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
87.738 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
-
Basic |
|
|
2.92 |
|
|
-
Diluted |
|
|
1.16 |
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 |
Yes |
|
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) |
Yes |
|
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION ABOUT COMPANY
The Company was incorporated on 23rd December, 2014 in India. The main object of the Company is to carry on the business of manufacture and trading in Agarbathies, Incense, Fragrances and allied products etc. The Company has succeeded to the business of M/s N Ranga Rao and Sons, a partnership firm, on a going concern basis, vide Business Succession Agreement, dated 18/03/2015, effective 01st April, 2015. Pursuant to succession all the assets and liabilities of the Firm has become assets and liabilities of the Company.
STATE OF AFFAIRS:
The business of partnership firm N Ranga Rao and Sons, Mysore with all its assets and liabilities was succeeded by the Company as a going concern with effect from 1st April 2015. This being the first year after succession, the company has reported Revenue from Operations of INR 6433.700 million and Profits (after Tax) of to INR 111.500 million during the current Financial Year.
ACHIEVEMENT:
The Company recently received re-certification as a carbon neutral manufacturer from UK-based The Carbon Neutral Company – the leading provider of carbon reduction solutions in the World. This is the second consecutive year the Company has been recognized for its commitment towards green business practices. The distinction makes the Company the world’s first incense stick manufacturer to receive this recognition.
The certification entitles the Company to use carbon neutral symbol in all its products representing the quality and sustainable development the Company fosters. Sustainable development is a way of life at the Company. Through association with Carbon Consulting Company the Company has managed to offset their carbon footprint to near zero. Going forward, the Company will not only continue to find newer ways to reduce their impact even further, but also will work towards setting global benchmarks in sustainable development.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Fully convertible debentures others |
1300.000 |
0.000 |
|
Loans and advances from related parties |
2.873 |
4.954 |
|
|
|
|
|
Total |
1302.873 |
4.954 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G37825700 |
100081911 |
CORPORATION BANK |
31/01/2017 |
- |
- |
8000000.0 |
L-351, ASHOKA ROAD, OPP. CLOCK TOWERMYSORE MAIN BRANCH. MYSOREKA 570001IN |
|
2 |
G13809363 |
100050630 |
IDBI BANK LIMITED |
22/09/2016 |
06/10/2016 |
- |
465000000.0 |
IDBI HOUSE,NO.58, MISSION ROAD BENGALURU KA560027IN |
|
3 |
G00366963 |
100016985 |
CORPORATION BANK |
16/03/2016 |
- |
- |
1200000.0 |
L-351, ASHOKA ROAD, OPP. CLOCK TOWERMYSORE MAIN BRANCH. MYSORE KA570001IN |
|
4 |
G73238750 |
10619306 |
IDBI BANK LIMITED |
05/01/2016 |
02/01/2018 |
- |
900000000.0 |
IDBI HOUSE,NO.58, MISSION ROADBANAGALURUKA560027IN |
|
5 |
G73380180 |
10595183 |
DBS BANK LTD |
14/09/2015 |
27/12/2017 |
- |
475000000.0 |
SALARPURIA WINDSORNO. 3, ULSOOR ROADBENGALURUKA560042IN |
|
6 |
C62758560 |
10588315 |
CORPORATION BANK |
29/07/2015 |
- |
- |
4000000.0 |
L-351, ASHOKA ROAD, OPP. CLOCK TOWERMYSORE MAIN BRANCH. MYSORE KA570001IN |
|
7 |
G34536847 |
100016986 |
CORPORATION BANK |
05/03/2016 |
- |
09/01/2017 |
40000000.0 |
L-351, ASHOKA ROAD, OPP. CLOCK TOWER MYSORE MAIN BRANCH. MYSORE KA570001IN |
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 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 65.06 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
YES |
|
--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.