|
|
|
MIRA INFORM REPORT
|
Report No. : |
502853 |
|
Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
RAAJRATNA METAL INDUSTRIES LIMITED |
|
|
|
|
Formerly Known
As : |
RAAJRATNA CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
909, IX Floor, Sakar-III, Near Income Tax Circle, Ashram Road, Shreyas
Colony, Navrangpura, Ahmedabad – 380014, Gujarat |
|
Tel. No.: |
91-79-27543681 / 27543085 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
09.05.1988 |
|
|
|
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Com. Reg. No.: |
04-010673 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 83.622 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1988PLC010673 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0890004293 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAACR9980M1ZR |
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TIN No: |
24060101181 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR9980M |
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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 manufacturing of Stainless Steel Wire and Stainless Steel Bright Bars. (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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1988 having good track. As per Registrar of Companies the date of Balance sheet (i.e.
financial filed) is shown as 31.03.2017 but the documents related to the
financial for the year 2017 are not available from any sources. As per available financials of 2016, revenue of the company has
marginally decline. However, it has witnessed a growth in its profit and has
achieved fair profit margin at 6.78% (approx.)
The company possesses sound financial profile marked by healthy net
worth base along with negligible debt recorded by the company. The company also derives strength from its long established track
record of business operations. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular and as per commitments. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating= A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
28.08.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating= A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
28.08.2017 |
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 10.04.2018.
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 BY
|
Name : |
Mr. Kinesh |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-79-27543681 |
|
Date : |
07.04.2018 |
LOCATIONS
|
Registered / Corporate Office: |
909, IX Floor, Sakar-III, Near Income Tax Circle, Ashram Road, Shreyas
Colony, Navrangpura, Ahmedabad – 380014, Gujarat, India |
|
Tel. No.: |
91-79-27543681 / 82 / 83 /84 / 27543085 |
|
Fax No.: |
|
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
146, Bileshwarpura, Ahmedabad-Mehsana Highway, Taluka Kalol, District Gandhinagar, Gujarat, India |
|
Tel. No.: |
91-27642-33664/ 5 |
|
Fax No.: |
91-27642-33663 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office 1
: |
126, Mittal Court, A-Wing, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-22829342 / 44 / 45 / 46 |
|
Fax No.: |
|
|
E-Mail : |
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|
|
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Branch Office 2
: |
10/61-D, Kirtinagar Industrial Area, New Delhi – 110015, India |
|
Tel. No.: |
|
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Arvind Dalichand Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
15, Shanti Niketan Society, Opposite Gujarat College Road, Ellis
Bridge, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
30.03.1957 |
|
Qualification : |
B.E |
|
Date of Appointment : |
27.09.2014 |
|
PAN No.: |
AACPS9853K |
|
DIN No.: |
00435340 |
|
|
|
|
Name : |
Mr. Ashish Virendrabhai Shah |
|
Designation : |
Director |
|
Address : |
2, Jain Merchant Society, Paldi, Ahmedabad - 380007, Gujarat, India |
|
Date of Appointment : |
26.09.2015 |
|
DIN No.: |
00007201 |
|
|
|
|
Name : |
Mr. Shailesh Anantlal Sheth |
|
Designation : |
Director |
|
Address : |
A-10,Omsurya Appartment, Gulbai Tekra, Ellisbridge, Ahmedabad -
380006, Gujarat, India |
|
Date of Appointment : |
27.09.2016 |
|
DIN No.: |
00046539 |
|
|
|
|
Name : |
Mr. Babulal Dalichand Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
Sanghvi Mansion, 17 Lakdawala Building, 5th Khetwadi Lane,
Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1951 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
27.09.2005 |
|
PAN No.: |
AACPS4439D |
|
DIN No.: |
00601159 |
|
|
|
|
Name : |
Mr. Tarachand Dalichand Sanghvi |
|
Designation : |
Whole-Time Director |
|
Address : |
9, Laxminarayan Society, Shantinagar, Usmanpura Ahmedabad –
380013, Gujarat, India |
|
Date of Birth/Age : |
18.07.1947 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
27.09.2015 |
|
PAN No.: |
ACIPS6387C |
|
DIN No.: |
00601195 |
|
|
|
|
Name : |
Mr. Naresh Babulal Sanghvi |
|
Designation : |
Whole-time director |
|
Address : |
17, Sthanakvashi Jain Society, Naranpura Railway Crossing, Shantinagar
Ashram Road, Ahmedabad-380013, Gujarat, India |
|
Date of Birth/Age : |
13.06.1973 |
|
Qualification : |
B.E |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AACPS4438C |
|
DIN No.: |
00601322 |
|
|
|
|
Name : |
Mrs. Leelaben Sanghvi Arvindkumar |
|
Designation : |
Director |
|
Address : |
15,Santinikatan Society, Opposite Gujarat College, Ellisbridge,
Ahmedabad - 380006, Gujarat, India |
|
Date of Appointment : |
26.09.2015 |
|
PAN No: |
AACPS6101Q |
|
DIN No.: |
07160353 |
|
|
|
|
Name : |
Mr. Manish Babulal Sanghvi |
|
Designation : |
Wholetime Director |
|
Address : |
17, Sthanakvashi Jain Society, Shantinagar, Near Naranpura Railway Crossing, Ahmedabad-380013, Gujarat, India N |
|
Date of Birth/Age : |
23.05.1980 |
|
Qualification : |
Pre Degree |
|
PAN No: |
AACPS6102P |
|
Date of Appointment : |
18.05.2010 |
|
DIN No.: |
03089574 |
|
|
|
|
Name : |
Mr. Kunal Arvindkumar Sanghvi |
|
Designation : |
Wholetime Director |
|
Address : |
15, Shantiniketan Society, Opposite Gujarat College, Ellisbridge, Ahmedabad-380006, Gujarat, India |
|
Date of Appointment : |
01.10.2016 |
|
PAN No: |
AMLPK6408P |
|
DIN No.: |
05124451 |
|
|
|
|
Name : |
Mr. Vinod Babulal Sanghvi |
|
Designation : |
Wholetime Director |
|
Address : |
381/382,Rushabh Tower, 38th Floor, Dr. Parekh Street, Opposite Harkishandas Hospital, Girgaon, Mumbai-400004, Maharashtra, India |
|
Date of Appointment : |
07.04.2017 |
|
PAN No: |
AACPS4440E |
|
DIN No.: |
06961252 |
KEY EXECUTIVES
|
Name : |
Mr. Kinesh |
|
Designation : |
Senior Accounts Manager |
|
|
|
|
Name : |
Mr. Bhabutmal Jawanmalji Sen |
|
Designation : |
Chief Financial Officer |
|
Address : |
8, New Ambika Park Society, D Cabin, Sabarmati. Ahmedabad
- 380019, Gujarat, India |
|
Date of Birth/Age : |
08.11.1959 |
|
Date of Appointment : |
15.10.2014 |
|
Qualification : |
B.Com |
|
PAN No.: |
ACEPS6262L |
|
|
|
|
Name : |
Mrs. Samika Turkeshbhai Rasania |
|
Designation : |
Company Secretary |
|
Address : |
1091, Devji Saraiya Ni Pole, Sankadi Sheri, Manek Chowk,
Ahmedabad - 380001, Gujarat, India |
|
Date of Appointment : |
20.06.2016 |
|
PAN No.: |
BFTPR6328P |
|
|
|
|
Name : |
Ashwin Shah |
|
Designation : |
Company Secretary |
|
Address : |
22, Dolly Complex, Stadium Circle, Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
Tel. No: |
91-79-26467747 |
|
Email: |
|
|
Pan No: |
ACWPS4791B |
MAJOR SHAREHOLDERS
As on 31.03.2017
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
99.30 |
|
Promoter - Bodies
corporate |
0.01 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
0.69 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of Stainless Steel Wire and Stainless Steel Bright Bars (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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|
Bankers : |
·
Bank of Baroda, Ashram Road Branch, Vallabh Sadan, Opposite
Natraj Cinema, Ahmedabad – 380009, Gujarat, India ·
Yes Bank Limited, 9th Floor, Nehru Centre,
Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India |
||||||||||||||||||||||
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Facilities : |
|
|
Auditors 1 : |
|
|
Name : |
Shah
Kantilal and Company Chartered Accountants |
|
Address : |
804, Mauryansh Elanza,
Near Parekhs Hospital, Shyamal Cross Road,
Satellite, Ahmedabad, Gujarat, India |
|
PAN
No.: |
AACFM6805H |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Mehta
Lodha and Company |
|
Address : |
105, Sakri, Near Gandhigram Railway Station, Ahmedabad- 380009, Gujarat, India |
|
PAN
No.: |
AAMFS3865K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company [As on
31.03.2016] : |
·
Stainless Wire Limited, United Kingdom ·
Raajratna Stainless Wire (USA) INC ·
Erre Inox S. P. A, Italy ·
PT. Raajratna Wire, Indonesia |
|
|
|
|
Associates [As on 31.03.2016] : |
·
Raajratna Electrodes Private Limited, India
(U29308GJ1991PTC016444) ·
Raajratna Stockholding Private Limited,
India (U65990GJ1992PTC018491) ·
Raajratna Ventures Limited, India (U27209GJ2004PLC044288) ·
Real Strips Limited, India
(L27100GJ1990PLC014383) ·
Concept Infoway Private Limited, India
(U72900GJ2000PTC037745) · Roseberry Tradex Private Limited, India (U51494GJ2010PTC060200) |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8362166 |
Equity Shares |
INR 10/- each |
INR 83.622 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
83.622 |
83.622 |
83.622 |
|
(b) Reserves and Surplus |
2506.629 |
2134.567 |
1795.619 |
|
(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) |
2590.251 |
2218.189 |
1879.241 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
65.033 |
53.671 |
20.198 |
|
(b) Deferred tax liabilities (Net) |
196.093 |
171.751 |
165.805 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
28.250 |
27.140 |
23.180 |
|
Total Non-current
Liabilities (3) |
289.376 |
252.562 |
209.183 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1187.982 |
1773.637 |
2508.946 |
|
(b) Trade
payables |
257.434 |
314.243 |
246.009 |
|
(c) Other
current liabilities |
48.078 |
56.880 |
106.164 |
|
(d) Short-term
provisions |
172.920 |
183.381 |
212.210 |
|
Total Current
Liabilities (4) |
1666.414 |
2328.141 |
3073.329 |
|
|
|
|
|
|
TOTAL |
4546.041 |
4798.892 |
5161.753 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
1305.833 |
1264.385 |
1243.573 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
15.878 |
85.571 |
16.754 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
270.190 |
257.906 |
174.331 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
28.466 |
23.985 |
22.478 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1620.367 |
1631.847 |
1457.136 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
772.743 |
860.604 |
1049.288 |
|
(c) Trade
receivables |
1682.911 |
1754.003 |
2056.621 |
|
(d) Cash and
bank balances |
18.549 |
18.790 |
18.791 |
|
(e)
Short-term loans and advances |
451.471 |
533.648 |
579.917 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2925.674 |
3167.045 |
3704.617 |
|
|
|
|
|
|
TOTAL |
4546.041 |
4798.892 |
5161.753 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
5483.974 |
5933.017 |
5754.748 |
|
|
Other Income |
14.145 |
5.451 |
71.058 |
|
|
TOTAL |
5498.119 |
5938.468 |
5825.806 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3379.920 |
3863.763 |
3868.429 |
|
|
Purchases of
Stock-in-Trade |
239.009 |
24.819 |
48.498 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
14.216 |
72.734 |
(65.003) |
|
|
Employee benefit expense |
279.999 |
267.946 |
194.734 |
|
|
CSR expenditure |
0.175 |
0.000 |
0.000 |
|
|
Other expenses |
776.971 |
851.119 |
855.697 |
|
|
Prior period items |
(0.016) |
0.765 |
1.074 |
|
|
TOTAL |
4690.274 |
5081.146 |
4903.429 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
807.845 |
857.322 |
922.377 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
144.322 |
267.306 |
156.571 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
663.523 |
590.016 |
765.806 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
109.600 |
101.693 |
158.464 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
553.923 |
488.323 |
607.342 |
|
|
|
|
|
|
|
Less |
TAX |
181.860 |
153.140 |
206.951 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
372.063 |
335.183 |
400.391 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
3363.110 |
3708.046 |
3979.834 |
|
|
TOTAL EARNINGS |
3363.110 |
3708.046 |
3979.834 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
967.435 |
1270.418 |
1148.952 |
|
|
Components and spare
parts |
49.822 |
69.779 |
63.522 |
|
|
Capital Goods |
15.467 |
87.653 |
22.288 |
|
|
TOTAL IMPORTS |
1032.724 |
1427.850 |
1234.763 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
44.49 |
40.08 |
47.88 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
63.453 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
952.360 |
1476.411 |
460.286 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
669.806 |
1037.205 |
155.389 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
112.01 |
107.91 |
130.44 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
3.26 |
3.38 |
2.80 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
25.96 |
29.50 |
22.92 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
1.05 |
1.00 |
0.88 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.61 |
0.64 |
0.73 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.38 |
0.50 |
0.61 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.48 |
0.82 |
1.38 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.64 |
1.05 |
1.64 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.51 |
0.61 |
0.67 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial Charges] |
|
5.60 |
3.21 |
5.89 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
6.78 |
5.65 |
6.96 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
8.18 |
6.98 |
7.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
14.36 |
15.11 |
21.31 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.76 |
1.36 |
1.21 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.29 |
0.99 |
0.86 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.57 |
0.46 |
0.36 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
14.98 |
21.85 |
31.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.76 |
1.36 |
1.21 |
Total Liability = Short-term
Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
83.622 |
83.622 |
83.622 |
|
Reserves & Surplus |
1795.619 |
2134.567 |
2506.629 |
|
Net
worth |
1879.241 |
2218.189 |
2590.251 |
|
|
|
|
|
|
Long-term borrowings |
20.198 |
53.671 |
65.033 |
|
Short term borrowings |
2508.946 |
1773.637 |
1187.982 |
|
Current maturities of
long-term debts |
63.453 |
0.000 |
0.000 |
|
Total
borrowings |
2592.597 |
1827.308 |
1253.015 |
|
Debt/Equity
ratio |
1.380 |
0.824 |
0.484 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
5754.748 |
5933.017 |
5483.974 |
|
|
|
3.098 |
(7.569) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
5754.748 |
5933.017 |
5483.974 |
|
Profit/ (Loss) |
400.391 |
335.183 |
372.063 |
|
|
6.96
% |
5.65
% |
6.78
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
83.622 |
83.622 |
|
(b) Reserves and Surplus |
2358.701 |
2053.284 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
|
(d) Minority interest |
0.664 |
0.873 |
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
2442.323 |
2136.906 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
134.760 |
187.469 |
|
(b) Deferred tax liabilities (Net) |
196.150 |
171.699 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
|
(d) long-term
provisions |
28.250 |
27.140 |
|
Total Non-current
Liabilities (3) |
359.160 |
386.308 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short-term
borrowings |
1580.065 |
2058.719 |
|
(b) Trade
payables |
300.288 |
421.838 |
|
(c) Other current
liabilities |
90.133 |
57.503 |
|
(d) Short-term
provisions |
191.820 |
195.201 |
|
Total Current
Liabilities (4) |
2162.306 |
2733.261 |
|
|
|
|
|
TOTAL |
4964.453 |
5257.348 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1)
Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i)
Tangible assets |
1443.117 |
1400.118 |
|
(ii)
Intangible Assets |
0.559 |
1.021 |
|
(iii) Tangible assets
capital work-in-progress |
15.878 |
85.571 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
141.465 |
129.181 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
34.414 |
28.931 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1635.433 |
1644.822 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a)
Current investments |
0.000 |
0.000 |
|
(b)
Inventories |
1361.865 |
1510.746 |
|
(c) Trade
receivables |
1408.280 |
1487.166 |
|
(d) Cash and
bank balances |
85.887 |
48.144 |
|
(e)
Short-term loans and advances |
472.988 |
566.470 |
|
(f) Other
current assets |
0.000 |
0.000 |
|
Total
Current Assets |
3329.020 |
3612.526 |
|
|
|
|
|
TOTAL |
4964.453 |
5257.348 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
Total
Revenue from operations |
6151.826 |
6605.685 |
|
|
Other Income |
84.716 |
116.797 |
|
|
TOTAL |
6236.542 |
6722.482 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
3946.498 |
4235.067 |
|
|
Purchases of Stock-in-Trade |
3.653 |
26.374 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
11.965 |
201.863 |
|
|
Employee benefit expense |
371.241 |
347.516 |
|
|
Other expenses |
1031.850 |
1080.673 |
|
|
Prior period items |
(0.693) |
1.889 |
|
|
Extraordinary items |
1.675 |
0.449 |
|
|
TOTAL |
5366.189 |
5893.831 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
870.353 |
828.651 |
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
205.554 |
292.657 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
664.799 |
535.994 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
124.409 |
113.101 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
540.390 |
422.893 |
|
|
|
|
|
|
Less |
TAX |
186.765 |
158.286 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
353.625 |
264.607 |
|
|
|
|
|
|
|
PROFIT (LOSS) OF
MINORITY INTEREST |
0.129 |
0.011 |
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS)
FOR PERIOD |
353.754 |
264.618 |
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
F.O.B. Value of Exports |
3363.110 |
3708.046 |
|
|
TOTAL EARNINGS |
3363.110 |
3708.046 |
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
Raw Materials |
967.435 |
1270.418 |
|
|
Components and spare
parts |
49.822 |
69.779 |
|
|
Capital Goods |
15.467 |
87.653 |
|
|
TOTAL IMPORTS |
1032.724 |
1427.850 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
42.29 |
31.64 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last two/ 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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Interoperate borrowings |
335.000 |
0.000 |
|
Total |
335.000 |
0.000 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C33007105 |
10530302 |
YES BANK LIMITED |
08/10/2014 |
- |
- |
100000000.0 |
9th Floor, Discovery of IndiaDr. A.B. Road, WorliMumbaiMH400018IN |
|
2 |
B80544554 |
90098705 |
BANK OF BARODA |
29/10/1997 |
20/07/2013 |
- |
3900000000.0 |
ASHRAM ROAD BRANCH, VALLABH SADANOPP. NATRAJ CINEMAAHMEDABADGJ380009IN |
|
3 |
Y10187821 |
90098129 |
THE INDUSTRIAL CREDIT & INVESTMENT CORPORATION OF INDIA |
17/04/1995 |
26/12/1996 |
- |
41000000.0 |
163;BACKBAY RECLAMATIONBOMBAYMH400020IN |
|
4 |
B90628439 |
10215128 |
IDBI Bank Limited |
29/03/2010 |
- |
29/11/2013 |
72000000.0 |
IDBI COMPLEXNEAR LAL BUNGLOW, OFF C. G. ROADAHMEDABADGJ380006IN |
|
5 |
B71013726 |
10290962 |
BANK OF BARODA |
07/06/2011 |
- |
12/03/2013 |
60000000.0 |
ASHRAM ROAD BRANCH, VALLABH SADANOPP. NATRAJ CINEMAAHMEDABADGJ380009IN |
|
6 |
B68693498 |
90099788 |
BANK OF BARODA |
20/02/2004 |
- |
19/02/2013 |
42400000.0 |
GANDHI ROAD BRANCHAHMEDABADMHIN |
|
7 |
B68694454 |
80001477 |
BANK OF BARODA |
29/10/1997 |
03/04/2006 |
19/02/2013 |
311441000.0 |
GANDHI ROAD BRANCHAHMEDABADGJ380001IN |
|
8 |
B67753145 |
90099995 |
BANK OF BARODA |
02/03/2005 |
- |
17/01/2013 |
44800000.0 |
GHANDHI NAGAR BRANCHAHMEDABADGJIN |
|
9 |
B67755926 |
10149476 |
THE BANK OF BARODA LIMITED |
24/03/2009 |
- |
17/01/2013 |
100000000.0 |
ASHRAM ROADAHMEDABADGJ380006IN |
|
10 |
B58948977 |
10230306 |
YES BANK LIMITED |
02/07/2010 |
- |
24/09/2012 |
100000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Claims against company not acknowledged as debt |
0.000 |
4.136 |
|
Guarantees |
146.884 |
65.712 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Other Equipments
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.93 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVD |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.