|
|
|
MIRA INFORM REPORT
|
Report No. : |
502118 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
VEER PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
104, Sardar Patel Colony, 1st Floor, Stadium Road, Post Navjivan,
Ahmedabad-380014, Gujarat |
|
Tel. No.: |
91-79-27681159 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
10.04.1985 |
|
|
|
|
Com. Reg. No.: |
04-007777 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 76.340 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200GJ1985PTC007777 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0888009810 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV6291P |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAACV6291P1ZR |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily engaged in the business of manufacturing HDPE/PP Woven sacks, Fabrics and Flexible Intermediate Bulk Containers made out of PP Granules. (Registered activity and also confirmed by management) |
|
|
|
|
No. of Employees
: |
250 (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 |
|
Maximum Credit Limit : |
USD 2380000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject was incorporated in the year 1985 and it is a manufacturer of HDPE/PP woven sacks, fabrics and flexible intermediate bulk containers made out of PP granules. As per financials of March 2017, the company has registered a growth of 11.52% in its revenue as compared to its previous year’s revenue and has reported fair profit margin of 4.06%. Rating takes into consideration the company’s established track record of business operations marked by healthy net worth base along with average debt coverage indicators and decent liquidity position. Rating also takes into account the leading market position in the domestic conventional poly woven bags market and reputed customer profile. Further, the company has reported a good earnings per share of INR 26.06 against its face value of INR 10. However, rating strength is partially offset by vulnerability of profitability to volatility in foreign currency exchange rates along with prices of raw material and intense competition by virtue of the highly fragmented industry structure. Payments seems to be regular. 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.
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 |
ICRA |
|
Rating |
Long term rating : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
18.01.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating : A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
18.01.2018 |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 07.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (PARTIAL DETAILS)
|
Name : |
Mr. Dave |
|
Designation : |
Commercial Manager |
|
Contact No.: |
91-79-27681159 |
|
Date : |
05.04.2018 |
LOCATIONS
|
Registered/ Head Office : |
104, Sardar Patel Colony, 1st Floor, Stadium Road, Post
Navjivan, Ahmedabad-380014, Gujarat, India |
|
Tel. No.: |
91-79-27681159 |
|
Fax No.: |
91-79-27680550 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory 1 : |
Block No.327, Santej – Vadsar Road, Santej, Taluka Kalol, Mehsana,
District Gandhi Nagar-382721, Gujarat, India |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
7/1, GIDC Estate, Kadi, North Gujarat, India |
|
Location : |
Owned |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Kanwarbirsingh Ajaibsingh Arora |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age: |
21.04.1952 |
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Date of Appointment : |
10.04.1985 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00039504 |
||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Surender Choudhary Keshrichand |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
6, Aditiraj Bunglows, Near Prernatirth Derasar, Jodhpur Cross Road,
Satellite, Ahmedabad-30015, Gujarat, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age: |
05.01.1961 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.09.2004 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00280140 |
||||||||||||||||||||||||||||||||||||
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Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Harjeevansingh Kanwarbirsingh Arora |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age: |
22.11.1976 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.09.2003 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02119004 |
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|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Jasleenkaur Kanwarbir Singh Arora |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age: |
04.11.1982 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.05.2011 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02119013 |
||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sukhbirsingh Ajaibsingh Arora |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age: |
23.11.1954 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2013 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00039513 |
||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Karanjeevsingh Sukhbirsingh Arora |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
173, Sun Rise Park, Memnagar, Satellite, Ahmedabad-380052, Gujarat,
India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age: |
31.12.1983 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.11.2015 |
||||||||||||||||||||||||||||||||||||
|
Din No.: |
01501598 |
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Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Dave |
|
Designation : |
Commercial Manager |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders (Equity Share) |
|
No. of Shares |
|
Kanwarbir Singh Ajaib Singh Arora |
|
743880 |
|
Sukhbir Singh Ajaib Singh Arora |
|
562910 |
|
Sukhbir Singh Ajaib Singh HUF |
|
137260 |
|
Kanwarbir Singh Ajaib Singh Arora |
|
361740 |
|
Jasleen Kaur Kanwarbir Singh Arora |
|
662920 |
|
Manveenkaur Gurprit Singh |
|
277470 |
|
Harjeevsingh Kanwarbir Singh Arora |
|
758680 |
|
Gian Marketing Pvt Ltd |
|
837360 |
|
Karanjeev singh Sukhbir Singh Arora |
|
508930 |
|
Neenakaur Sukhbir Singh Arora |
|
552690 |
|
Rajesh L. Dave |
|
200 |
|
Laxmiprasad J Dave |
|
200 |
|
Surender M Choudhry |
|
91940 |
|
Maninderkaur Kanwarbir Singh Arora |
|
687730 |
|
Jai singh Chauhan |
|
533330 |
|
Amrita kaur Harjeev Singh Arora |
|
617940 |
|
Rajiv Raina |
|
122500 |
|
Harbans Kaur Arora |
|
20190 |
|
Sukhbir Singh j/w Shakun Jain |
|
10 |
|
Sukhbir Singh j/w Surinder Jain |
|
10 |
|
Baljit Singh |
|
900 |
|
Jasneet Kaur |
|
250 |
|
Total |
|
7479040 |
|
Names of
Shareholders (Preference Share) |
|
No. of Shares |
|
Maninderkaur Kanwarbir Singh Arora |
|
8000 |
|
Neenakaur Sukhbir Singh Arora |
|
7500 |
|
Total |
|
15500 |
Equity Share Break up (Percentage of Total Equity)
As on 20.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
78.79 |
|
Promoters (Body corporate) |
11.20 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
10.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the business of manufacturing HDPE/PP Woven sacks, Fabrics and Flexible Intermediate Bulk Containers made out of PP Granules. (Registered activity and also confirmed by management) |
||||
|
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|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C |
||||
|
|
|
||||
|
Purchasing : |
L/C |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, , End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Shah and Shah Associates Chartered Accountants |
|
Address : |
702, Aniket Building, Near Muncipal Market, Navrangpura, Ahmedabad, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAHFS7036F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 20.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24580000 |
Equity Shares |
INR 10/- each |
INR 245.800 Million |
|
200000 |
Preference Shares |
INR 100/- each |
INR 20.000 Million |
|
|
Total |
|
INR 265.800
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7479040 |
Equity Shares |
INR 10/- each |
INR 74.790 Million |
|
15500 |
Preference Shares |
INR 100/- each |
INR 1.550 Million |
|
|
Total |
|
INR 76.340
Million |
FINANCIAL DATA
[all figures are
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 |
76.340 |
76.340 |
76.340 |
|
(b) Reserves and Surplus |
755.463 |
557.936 |
464.128 |
|
(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) |
831.803 |
634.276 |
540.468 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
449.240 |
563.858 |
400.863 |
|
(b) Deferred tax liabilities (Net) |
58.207 |
42.299 |
45.186 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
507.447 |
606.157 |
446.049 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
572.733 |
575.736 |
570.068 |
|
(b) Trade payables |
199.675 |
233.487 |
182.641 |
|
(c) Other
current liabilities |
250.309 |
153.699 |
112.286 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
1022.717 |
962.922 |
864.995 |
|
|
|
|
|
|
TOTAL |
2361.967 |
2203.355 |
1851.512 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
973.107 |
622.421 |
720.966 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets capital
work-in-progress |
0.000 |
315.268 |
6.241 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.546 |
1.546 |
1.546 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
45.297 |
37.108 |
43.113 |
|
(e) Other
Non-current assets |
2.572 |
7.731 |
11.675 |
|
Total Non-Current
Assets |
1022.522 |
984.074 |
783.541 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
524.620 |
462.490 |
476.956 |
|
(c) Trade
receivables |
470.739 |
473.853 |
333.280 |
|
(d) Cash and
bank balances |
54.109 |
33.766 |
27.767 |
|
(e)
Short-term loans and advances |
149.426 |
139.209 |
145.618 |
|
(f) Other current
assets |
140.551 |
109.963 |
84.350 |
|
Total
Current Assets |
1339.445 |
1219.281 |
1067.971 |
|
|
|
|
|
|
TOTAL |
2361.967 |
2203.355 |
1851.512 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
4806.284 |
4309.725 |
4461.921 |
|
|
Other Income |
103.238 |
41.307 |
35.503 |
|
|
TOTAL |
4909.522 |
4351.032 |
4497.424 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3167.434 |
2950.658 |
3331.030 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(69.046) |
59.943 |
58.781 |
|
|
Employee benefit expense |
233.327 |
104.532 |
55.679 |
|
|
CSR expenditure |
3.675 |
0.000 |
0.000 |
|
|
Other expenses |
1059.034 |
895.633 |
760.614 |
|
|
TOTAL |
4394.424 |
4010.766 |
4206.104 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
515.098 |
340.266 |
291.320 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
107.899 |
114.240 |
130.221 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
407.199 |
226.026 |
161.099 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
131.887 |
111.320 |
104.256 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
275.312 |
114.706 |
56.843 |
|
|
|
|
|
|
|
Less |
TAX |
80.403 |
25.048 |
28.204 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
194.909 |
89.658 |
28.639 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
26.06 |
11.99 |
3.82 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
75.649 |
54.878 |
48.195 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
434.702 |
277.748 |
144.276 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
35.75 |
40.13 |
27.26 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
10.21 |
9.10 |
13.39 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
23.01 |
28.88 |
20.01 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.98 |
0.74 |
0.61 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.53 |
0.36 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.66 |
0.72 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.32 |
1.88 |
1.89 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.23 |
1.52 |
1.60 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.17 |
1.48 |
1.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.77 |
2.98 |
2.24 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
4.06 |
2.08 |
0.64 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.25 |
4.07 |
1.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
23.43 |
14.14 |
5.30 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.31 |
1.27 |
1.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.80 |
0.79 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.35 |
0.29 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
14.38 |
15.65 |
13.35 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.31 |
1.27 |
1.23 |
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 |
76.340 |
76.340 |
76.340 |
|
Reserves & Surplus |
464.128 |
557.936 |
755.463 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
540.468 |
634.276 |
831.803 |
|
|
|
|
|
|
long-term borrowings |
400.863 |
563.858 |
449.240 |
|
Short term borrowings |
570.068 |
575.736 |
572.733 |
|
Current maturities of
long-term debts |
48.195 |
54.878 |
75.649 |
|
Total
borrowings |
1019.126 |
1194.472 |
1097.622 |
|
Debt/Equity
ratio |
1.886 |
1.883 |
1.320 |
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 |
4461.921 |
4309.725 |
4806.284 |
|
|
|
(3.411) |
11.522 |
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 |
4461.921 |
4309.725 |
4806.284 |
|
Profit |
28.639 |
89.658 |
194.909 |
|
|
0.64
% |
2.08
% |
4.06
% |
LEGAL
CASES
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
No |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last 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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
NATURE OF BUSINESS
The Company is a Company registered under the Indian Companies Act 1956. The Company is primarily engaged in the business of manufacturing HDPE/PP Woven sacks, Fabrics and Flexible Intermediate Bulk Containers made out of PP Granules. The Company was incorporated on 10th April, 1985 and is into this business for more than 2 decades. The Company has installed latest state of the art technology for manufacture of woven fabrics and sacks.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
82.115 |
205.176 |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
0.794 |
10.723 |
|
Total |
82.909 |
215.899 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B77371920 |
10431730 |
STATE BANK OF INDIA |
03/05/2013 |
- |
- |
40000000.0 |
Commercial Branch, 3rd floor, Paramsiddhi ComplexAshram Road, EllisbridgeAhmedabadGJ380006IN |
|
2 |
B72495534 |
10289405 |
STATE BANK OF INDIA |
19/05/2011 |
09/03/2013 |
- |
399400000.0 |
Commercial Branch, 3rd floor, Paramsiddhi ComplexOpp. V.S. Hospital, EllisbridgeAhmedabadGJ380006IN |
|
3 |
B13954227 |
10289456 |
STATE BANK OF INDIA |
19/05/2011 |
- |
- |
161000000.0 |
COMMERCIAL BRANCH, 3RD FLOOR, PRAMSIDDHI COMPLEXELLISBRIDGEAHMEDABADGJ380006IN |
|
4 |
B13502349 |
10030379 |
STATE BANK OF INDIA |
12/12/2006 |
04/05/2011 |
- |
161000000.0 |
COMMERCIAL BRANCH, 3RD FLOOR, PRAMSIDDHI COMPLEXELLISBRIDGEAHMEDABADGJ380006IN |
|
5 |
B72392442 |
10014864 |
STATE BANK OF INDIA |
05/08/2006 |
09/03/2013 |
- |
399400000.0 |
Commercial Branch, 3rd floor, Paramsiddhi ComplexOpp. V.S. Hospital, EllisbridgeAhmedabadGJ380006IN |
|
6 |
G71114904 |
90107122 |
State Bank of India |
24/05/2005 |
11/12/2017 |
- |
1561000000.0 |
Mid Corporate Group, Commercial Branch, 3rd Floor,Paramsiddhi Complex, Ellisbridge,AhmedabadGJ380006IN |
|
7 |
Z00394933 |
80043415 |
THE AHMEDABAD MERCANTILE CO-OPERATIVE BANK LIMITED |
30/06/1986 |
- |
- |
60000.0 |
GIRDHARNAGAR BRANCHAHMEDABADGJ380004IN |
|
8 |
Z00394870 |
80043411 |
THE AHMEDABAD MERCANTILE CO-OPERATIVE BANK LIMITED |
28/05/1984 |
- |
- |
60000.0 |
GIRDHARNAGAR BRANCHAHMEDABADGJ380004IN |
|
9 |
A35378785 |
80033380 |
PUNJAB NATIONAL BANK |
27/07/2002 |
- |
07/04/2008 |
10000000.0 |
SOLA ROAD, BHUYANGDEV CHAR RASTA,GHATLODIA,AHMEDABADGJ380061IN |
|
10 |
A39752993 |
80043412 |
BANK OF BARODA |
30/01/1985 |
- |
07/04/2008 |
900000.0 |
KADI BRANCHNORTH GUJARATKADIGJ381110IN |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 65.06 |
|
UK Pound |
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
NO |
|
--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.
·