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|
MIRA INFORM REPORT
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Report No. : |
502743 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
DIAMOND
CRUCIBLE COMPANY LIMITED (w.e.f. 10.10.2006) |
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Formerly Known
As : |
DIAMOND
CRUCIBLE COMPANY PRIVATE LIMITED |
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Registered
Office : |
B-11,
MIDC Waluj, Aurangabad, Aurangabad - 431136, Maharashtra |
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Tel. No.: |
91-240-6652514 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
23.06.1981 |
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Com. Reg. No.: |
11-269185 |
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Capital
Investment / Paid-up Capital : |
INR 3.500 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1981PLC269185 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACD9917E1ZN (Maharashtra) 24AAACD9917E1ZT (Gujarat) |
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TIN No: |
24040700920 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACD9917E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of
manufacturing and selling of clay graphite crucibles and its accessories. (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 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1981. For the financial year 2017, the company has achieved revenue growth
of 16.46% as compared to the previous year along with a fair profit margin of
12.48%. The sound financial risk profile of the company is marked by adequate
networth base along with strong debt protection metrics due to debt free
balance sheet profile. Rating takes into consideration the subject’s healthy earnings per
share of INR 959.53 against the face value of INR 100. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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 DENIED
91-2762-250503 (Not Working)
Management non-cooperative (Tel No.: 91-240-6652514)
LOCATIONS
|
Registered Office : |
B-11,
MIDC Waluj, Aurangabad, Aurangabad - 431136, Maharashtra, India |
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Tel. No.: |
91-240-6652514 |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Corporate Office |
212/C, G.I.D.C. Estate, Mehsana – 384002, Gujarat, India |
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Tel. No: |
91-2762-253132/ 254186 |
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|
|
|
Factory : |
Plot No. 291, Tata Tele Services Udyog Vihar, Phase No.2, Gurugram, Haryana, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mukund Nilkanth Bhogale |
|
Designation : |
Director |
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Address : |
8, Mitra Manadal Co-Operative, Housing Society, New Osmanpura, Aurangabad-431005, Maharashtra, India |
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Date of Birth/Age : |
13.01.1958 |
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Qualification : |
B. E. Chemical Engg. |
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Date of Appointment : |
30.10.2015 |
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PAN No.: |
AASPB7019E |
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DIN No: |
00072564 |
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|
|
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Name : |
Ian Keith Arber |
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Designation : |
Director |
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Address : |
U B 21, Connaught St West Leederville, Western Australia Leederville 6007 Australia |
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Date of Birth/Age : |
03.05.1959 |
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Qualification : |
ENGINEER |
|
Date of Appointment : |
11.02.2015 |
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DIN No: |
07080539 |
|
|
|
|
Name : |
Mr. Aniruddha Ajit Karve |
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Designation : |
Director |
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Address : |
C/O A506, Gold Coast Society, Baner Road, Ivory Estates, Pashaan, Pune-411008 , Maharashtra, India |
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Date of Birth/Age : |
09.08.1973 |
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Qualification : |
BE PHD |
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Date of Appointment : |
09.05.2015 |
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PAN No.: |
BBEPK2064C |
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DIN No: |
07180005 |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Terrassen Holdings Limited, India |
|
17150 |
|
Morganite Crucible (India) Limited, India |
|
17800 |
|
Aniruddha Karve with Morganite Crucible (India) Limited, India |
|
10 |
|
Rupesh Khokle with Morganite Crucible (India) Limited, India |
|
10 |
|
Meereshwar Reddy with Morganite Crucible (India) Limited, India |
|
10 |
|
Atithi Majumdar with Morganite Crucible (India) Limited, India |
|
10 |
|
Sachin Ingale with Morganite Crucible (India) Limited, India |
|
10 |
|
Total |
|
35000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
99.86 |
|
Public/Other than promoters (others - Shareholding) |
0.14 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the business of
manufacturing and selling of clay graphite crucibles and its accessories. (Registered Activity) |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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Name : |
BSR and Company LLP Chartered Accountants |
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Address : |
5th Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai-400011, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
Morganite Crucible (India) Limited, India (L26920MH1986PLC038607) |
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Fellow Subsidiary: |
Morgan Molten Metal Systems GMBH, Germany |
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Ultimate Holding Company: |
Morgan Advanced Materials Plc, United Kingdom |
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|
|
Associates |
Terrassean Holding Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000 |
Equity Shares |
INR 100/- each |
INR 3.500 Million |
|
10000 |
Preference Shares |
INR 100/- each |
INR 1.000 Million |
|
|
Total |
|
INR 4.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000 |
Equity Shares |
INR 100/- each |
INR 3.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3.500 |
3.500 |
3.500 |
|
(b) Reserves and Surplus |
169.667 |
136.084 |
127.700 |
|
(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) |
173.167 |
139.584 |
131.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
3.849 |
3.569 |
2.763 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.624 |
8.204 |
2.401 |
|
Total Non-current
Liabilities (3) |
5.473 |
11.773 |
5.164 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
29.278 |
33.727 |
0.000 |
|
(c) Other
current liabilities |
7.401 |
11.856 |
65.764 |
|
(d) Short-term
provisions |
18.739 |
2.774 |
0.495 |
|
Total Current
Liabilities (4) |
55.418 |
48.357 |
66.259 |
|
|
|
|
|
|
TOTAL |
234.058 |
199.714 |
202.623 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
76.350 |
71.633 |
62.824 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.590 |
0.363 |
3.669 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
1.007 |
1.676 |
9.706 |
|
(e) Other
Non-current assets |
2.286 |
4.086 |
2.619 |
|
Total Non-Current
Assets |
80.233 |
77.758 |
78.818 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
42.982 |
50.623 |
46.360 |
|
(c) Trade
receivables |
44.152 |
34.833 |
39.927 |
|
(d) Cash and
bank balances |
59.435 |
31.371 |
28.838 |
|
(e)
Short-term loans and advances |
3.692 |
4.378 |
7.845 |
|
(f) Other
current assets |
3.564 |
0.751 |
0.835 |
|
Total
Current Assets |
153.825 |
121.956 |
123.805 |
|
|
|
|
|
|
TOTAL |
234.058 |
199.714 |
202.623 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
269.012 |
230.986 |
227.512 |
|
|
Other Income |
5.321 |
2.797 |
1.896 |
|
|
TOTAL |
274.333 |
233.783 |
229.408 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
108.405 |
99.467 |
105.019 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.985 |
(4.687) |
1.903 |
|
|
Employee benefit expense |
32.800 |
34.819 |
32.647 |
|
|
Other expenses |
63.830 |
63.442 |
74.938 |
|
|
TOTAL |
207.020 |
193.041 |
214.507 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
67.313 |
40.742 |
14.901 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.313 |
40.742 |
14.901 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
10.391 |
9.251 |
8.074 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
56.922 |
31.491 |
6.827 |
|
|
|
|
|
|
|
Less |
TAX |
23.338 |
23.107 |
6.549 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
33.584 |
8.383 |
0.278 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
45.677 |
48.451 |
48.054 |
|
|
TOTAL EARNINGS |
45.677 |
48.451 |
48.054 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
39.561 |
48.732 |
0.000 |
|
|
TOTAL IMPORTS |
39.561 |
48.732 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
959.53 |
239.52 |
7.94 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
53.043 |
23.249 |
2.441 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
37.869 |
17.648 |
(4.547) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
59.91 |
55.04 |
64.06 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
6.09 |
6.63 |
5.70 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
98.58 |
123.76 |
0.00 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
1.57 |
0.80 |
0.32 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.87 |
0.57 |
0.22 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.24 |
0.24 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.32 |
0.35 |
0.51 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.44 |
0.52 |
0.51 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
12.48 |
3.63 |
0.12 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
14.35 |
4.20 |
0.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
19.39 |
6.01 |
0.21 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
2.78 |
2.52 |
1.87 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
2.00 |
1.48 |
1.17 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.74 |
0.70 |
0.65 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
2.78 |
2.52 |
1.87 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
3.500 |
3.500 |
3.500 |
|
Reserves & Surplus |
127.700 |
136.084 |
169.667 |
|
Net
worth |
131.200 |
139.584 |
173.167 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
227.512 |
230.986 |
269.012 |
|
|
|
1.527 |
16.462 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
227.512 |
230.986 |
269.012 |
|
Profit/ (Loss) |
0.278 |
8.384 |
33.584 |
|
|
0.12
% |
3.63
% |
12.48
% |
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 |
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 |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS AND FUTURE
OUTLOOK:
During the year, the net revenue of the Company was INR 269.012 million as compared to INR 230.986 million in the previous year. The profit after tax was increased to INR 33.584 million was compared to INR 8.383 million from the previous year. The Company has made export of INR 45.677 million as compared to INR 48.451 million from the last year.
FUTURE OUTLOOK:
Indian economy grew by 7.1 per cent in FY 2016-17, making India as the fastest growing major economy in the world as per the report of Central Statistics Organisation (CSO) and International Monetary Fund (IMF). The currency crunch that followed by demonetization of high-value notes was widely believed to have impacted consumption and driving down economic growth in Oct-Dec quarter.
In the Union Budget 2017-18, the Finance Minister, Mr ArunJaitley, suggested that the major push of the budget proposals is on growth stimulation, providing relief to the middle class, providing affordable housing, curbing black money, digitalisation of the economy, enhancing transparency in political funding and simplifying the tax administration in the country. The Government of India has also unveiled a new Urban Development strategy for the next 20 years, aimed at development of rural and urban areas, providing housing for the urban poor and ensuring gender equity in the country among other objectives. In view of above announcement, the Indian economy is expected grow by 7.5 per cent in the fiscal year of 2017-18.
Global GDP growth is projected to pick up modestly to around 3.5 per cent boosted by fiscal initiatives in the major economies. The forecast is broadly unchanged since last year however confidence has improved, but consumption, investment, trade and productivity are remain subdued. The weak investment is weighing on medium-term prospects across many emerging markets and developing economies. If fiscal stimulus in major economies it may boost global growth above expectations. The risks to growth forecasts remain tilted to the downside from heightened policy uncertainty in major economies.
With global footprints, Morgan Molten Metal Systems (MMS) India region shared 82% of its business in crucible market and remaining 18% in foundry accessories business used mainly in non-ferrous and ferrous foundries. The most of crucible business came in various segments like aluminium melting, holding, refining followed by copper melting etc. With our recent focus on product portfolio management, end customer focus, application engineering and sales effectiveness, backed-up by following growth drivers they are assured of very promising double digit growth in years to come –
• Monsoon this year is expected to remain normal @96% of requirement.
• The infrastructure sector in India witnessed 33 deals in FY 2016-17 involving US$ 3.49 billion as against US$ 2.98 billion raised across 31 deals in FY 2015-16, with the majority of deals led by the power, roads and renewable sectors, as per investment bank Equirus Capital.
• The Indian economy has a huge unmet requirement for investments worth ? 43 trillion (US$ 646 billion) over the next the next five years, of which 70 per cent is expected to be spent on power, roads and urban infrastructure sectors
• India is expected to surpass Japan to become the second largest producer of steel in the world by the year 2019, supported by rising local demand and the heavy growth in steel exports, as per the Government of Australia.
• The auto sector is one of the most important contributors to GDP and employment in India, with heavy influence on our business. The sector accounts for 7 % of India’s GDP, 45 % of manufacturing GDP. 11.7% CAGR growth is expected in the segments with following market drivers.
• India was ranked as the second fastest growth market for passenger vehicles among top five global nations with a growth of 7 per cent during the year 2016. Passenger vehicle sales stood at 2.9 million units during the year 2016, as compared to 2.77 million units in 2015.
• Passenger vehicle density expected to become 1.5 times by 2020.
• In 2015, engine parts dominated the overall turnover of the Indian auto component industry with a share of 31%, followed by other categories.
• A growing working population and an expanding middle-class are expected to remain key demand drivers.
• Increasing disposable incomes in the rural agri-sector.
• The presence of a large pool of skilled and semi-skilled workers.
• A large number of products are available to consumers across various segments. With the entry of a number of foreign players and reduced overall product lifecycle, quicker product launches have become the order of the day.
• The “Start Up India” program and the likely rollout of GST would also help improve doing and establishing new businesses in the country.
• Favorable government policies like lower excise duties, automotive mission plans, the constitution of NATRiP, National Mission for Electric Mobility 2020, FAME-Faster Adaption and Manufacturing of Hybrid land Electric Vehicle etc.
• SAIC Motor Corp, China's largest automaker, has decided to buy General Motors (GM) India's Halol plant in Gujarat in a deal signed with GM on April 5, 2017, as stated by SAIC Motor Corp in a filing with the Shanghai Stock Exchange.
• Nissan Motor Co is planning to work with the government and private sector companies to explore opportunities for its electric car 'Leaf' in India. It will run a pilot project in the later part of 2017 to evaluate the viability of electric vehicles (EV).
COMPANY OVERVIEW
The Company was incorporated on 23 June 1981. The Company is engaged in the business of manufacturing and selling of clay graphite crucibles and its accessories.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
A00437137 |
80001463 |
BANK OF BARODA |
29/08/2001 |
- |
17/04/2006 |
0.0 |
Main Branch, Station Road, Mehsana-384001, Gujarat, India |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Office equipment
- Computer
Accessories
- Computer
Software
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.99 |
|
|
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVT |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.