|
|
|
MIRA INFORM REPORT
|
Report No. : |
502267 |
|
Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SPRAY ENGINEERING DEVICES LIMITED |
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|
|
|
Registered
Office : |
“Spray House”, Plot No.C-82, Industrial Area, Phase-VII, Mohali –
160055, Punjab |
|
Tel. No.: |
91-172-3029703 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
08.11.2004 |
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|
|
|
Com. Reg. No.: |
20-027625 |
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Capital
Investment / Paid-up Capital : |
INR 221.055 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U00000CH2004PLC027625 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
04AAICS5252M2Z2 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AAICS5252M |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company is engaged in the business of manufacturing of cooling and condensing system and specifically energy efficient equipments for the sugar industry. (Registered activity and also confirmed by management) |
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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 : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2004 having
moderate track record. 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 year 2017 are not available from any sources. As per available financials of 2016, the company possesses moderate
financial profile marked by low reserves level and unfavorable gap between
trade payables to its trade receivables. The rating also takes into consideration lowest earning per share of
the company (i.e., earning per share of INR 0.98 against face value of INR
10). Further, as per indirect source we could find that company has made
delay in servicing the debt obligations. Payments terms are seems to be slow. The company can be considered for business dealings on safe and
secured trade terms and condition. |
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 |
Fund Based Limits = D |
|
Rating Explanation |
The company is in default or expected to be in
default soon |
|
Date |
06.07.2017 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Pavitra |
|
Designation : |
Admin Department |
|
Contact No.: |
91-172-3029703 |
|
Date : |
07.04.2018 |
LOCATIONS
|
Registered Office / Head Office : |
“Spray House”, Plot No.C-82, Industrial Area, Phase-VII, Mohali –
160055, Punjab, India |
|
Tel. No.: |
91-172-3029999/ 3029703 |
|
Fax No.: |
91-172-3029774 |
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E-Mail : |
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|
Website : |
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|
|
|
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Branch Office : |
Office No. 303, Vishal Enclave, Shivarkar Road, Wanorie, Pune –
411040, Maharashtra, India |
|
Tel No.: |
91-20-41256678 |
|
Email : |
|
|
|
|
|
Factory 1 : |
Unit I # 76, HPSIDC Industrial Area, Baddi, District Solan – 173205, Himachal
Pradesh, India |
|
Tel. No.: |
91-1795-245321/ 308284 |
|
Fax No.: |
91-1795-245316/ 308264 |
|
|
|
|
Factory 2 : |
Unit II # 245-246, HPSIDC, Industrial Area, Baddi, District Solan – 173205,
Himachal Pradesh, India |
|
Tel. No.: |
91-1795-247421/ 308705 |
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Fax No.: |
91-1795-308722 |
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|
|
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Factory 3 : |
Unit III # 395-399, HPSIDC, Industrial Area, Baddi, District Solan – 173205,
Himachal Pradesh, India |
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Tel. No.: |
91-1795-308235 |
|
Fax No.: |
91-1795-308257 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vivek Verma |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Managing Director |
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Address : |
House No. 485, Sector-8, Panchkula – 134109, Haryana, India |
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Date of Birth/Age : |
25.09.1966 |
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Qualification : |
B Tech |
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PAN No.: |
AAPPV4136M |
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Date of Appointment : |
06.12.2004 |
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DIN No.: |
00032970 |
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Other Directorship:
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Name : |
Mr. Prateek Verma |
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Designation : |
Whole-time Director |
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Address : |
House Number 149, Sector 7, Panchkula - 134109, Haryana, India |
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Date of Birth/Age : |
08.01.1968 |
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Qualification : |
B.E. (Mechanical) |
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PAN No.: |
AAJPV1651K |
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Date of Appointment : |
08.11.2004 |
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DIN No.: |
00024740 |
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Other Directorship:
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Name : |
Mr. Ramit Gupta |
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Designation : |
Director |
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Address : |
125, Ashirwad Enclave, Plot No. 104, IP Extension Patparganj, Delhi – 110092, India |
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Date of Birth/Age : |
08.08.1969 |
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Qualification : |
B. Tech (Agri. Engg.) |
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Date of Appointment : |
31.03.2015 |
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DIN No.: |
03420097 |
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Name : |
Mr. Rajinder Godara |
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Designation : |
Director |
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Address : |
Ward No. 9, VPO Jakhadan, 20 STB, Suratgarh, Ganganagar - 335804, Rajasthan, India |
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Date of Birth/Age : |
14.07.1962 |
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Qualification : |
MBA Finance |
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Date of Appointment : |
31.03.2015 |
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DIN No.: |
07150366 |
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Name : |
Mr. Shridhar Venkatesh |
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Designation : |
Additional Director |
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Address : |
22/701, Satnam Paradise, Near Tulsidham, Ghodbundar Road, Thane, Mumbai 400607, Maharashtra, India |
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Date of Appointment : |
26.04.2017 |
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DIN No.: |
00025040 |
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Other Directorship:
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Name : |
Mr. Satish Vasant Deshpande |
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Designation : |
Nominee Director |
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Address : |
Plot No. 54, Flat No. 4, Shamala Apartment, Mahatma Nagar, Nashik – 422007, Maharashtra, India |
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Date of Birth/Age : |
15.07.1980 |
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Qualification : |
MBA Finance |
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Date of Appointment : |
30.06.2007 |
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DIN No.: |
00023871 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Ms. Neha Chopra |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 303, Block No. A1, Dolphin Impress Vidhansabha Road, Mowa Thana, Raipur – 492008, Chhattisgarh, India |
|
Date of Appointment : |
16.05.2016 |
|
PAN No.: |
ARLPC3285B |
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|
|
|
Name : |
Mr. Lalit Handa |
|
Designation : |
Company Financial Officer |
|
Address : |
House No. 2724, Ext.- 6, Sunny Enclave, Kharar, Sas Nagar, Mohali-140301, Punjab, India |
|
Date of Appointment : |
14.09.2017 |
|
PAN No.: |
AACPH5270M |
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|
|
|
Name : |
Ms. Pavitra |
|
Designation : |
Admin Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
NOTE: SHAREHOLDING DETAIL FILE ATTACHED
AS ON 28.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
70.98 |
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
1.89 |
|
Public/Other than promoters (Foreign institutional investors) |
25.00 |
|
Public/Other than promoters (Others - SEDL TRUST) |
2.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacturing of cooling and condensing system and specifically energy efficient equipments for the sugar industry. (Registered activity and also confirmed by management) |
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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 : |
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Selling : |
Advance Payment, Cheque and Others (NEFT, RTGS) |
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||||||||
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Purchasing : |
Advance Payment, Cheque and Others (NEFT, RTGS) |
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 : |
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Facilities : |
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Auditors : |
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|
Name : |
SGCO and Company Chartered Accountants |
|
Address : |
4 A, Kaledonia-Hdil, 2nd Floor, Sahar Road, Near Andheri Station, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
PAN No.: |
AAAFS7106D |
|
|
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|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
|
Subsidiaries Companies : (As On 31.03.2017) |
(CIN No.: U45202CH2006PTC029652)
(CIN No.: U74990CH2008PLC031137) |
|
|
|
|
Associate Company : (As On 31.03.2017) |
(CIN No.: U01403CH2007PTC030679) |
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|
|
|
Subsidiaries Companies : (As On 31.03.2016) |
(CIN No.: U45202CH2006PTC029652)
(CIN No.: U74990CH2008PLC031137) |
|
|
|
|
Associate Company : (As On 31.03.2016) |
(CIN No.: U01403CH2007PTC030679) |
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24050000 |
Equity Shares |
INR 10/- each |
INR 240.500 Million |
|
|
|
|
|
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22586781 |
Equity Shares |
INR 10/- each |
INR 225.868 Million |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22105484 |
Equity Shares |
INR 10/- each |
INR 221.055 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
221.055 |
221.055 |
221.070 |
|
(b) Reserves &
Surplus |
149.614 |
127.924 |
167.181 |
|
(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) |
370.669 |
348.979 |
388.251 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
21.760 |
44.832 |
63.706 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
11.178 |
54.453 |
4.346 |
|
Total Non-current
Liabilities (3) |
32.938 |
99.285 |
68.052 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
214.550 |
211.281 |
199.468 |
|
(b) Trade payables |
302.337 |
321.849 |
413.807 |
|
(c) Other current
liabilities |
158.828 |
54.049 |
36.854 |
|
(d) Short-term provisions |
32.365 |
27.803 |
128.981 |
|
Total Current Liabilities
(4) |
708.080 |
614.982 |
779.110 |
|
|
|
|
|
|
TOTAL |
1111.687 |
1063.246 |
1235.413 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
273.077 |
284.205 |
303.342 |
|
(ii) Intangible Assets |
2.257 |
2.515 |
0.304 |
|
(iii) Capital work-in-progress |
118.864 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
1.800 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.750 |
0.750 |
0.750 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
122.568 |
148.146 |
160.325 |
|
(e) Other Non-current
assets |
5.245 |
16.381 |
4.280 |
|
Total Non-Current Assets |
524.561 |
451.997 |
469.001 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
357.027 |
208.451 |
349.992 |
|
(c) Trade receivables |
172.945 |
268.197 |
318.044 |
|
(d) Cash and cash
equivalents |
14.856 |
16.305 |
8.172 |
|
(e) Short-term loans and
advances |
40.050 |
117.262 |
89.167 |
|
(f) Other current assets |
2.248 |
1.034 |
1.037 |
|
Total Current Assets |
587.126 |
611.249 |
766.412 |
|
|
|
|
|
|
TOTAL |
1111.687 |
1063.246 |
1235.413 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
747.287 |
717.539 |
412.866 |
|
|
Other Income |
50.593 |
124.700 |
57.611 |
|
|
TOTAL |
797.880 |
842.239 |
470.477 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
347.330 |
313.917 |
295.249 |
|
|
Purchases of
Stock-in-Trade |
186.385 |
1.155 |
11.444 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(97.104) |
117.581 |
(94.616) |
|
|
Employees benefits
expense |
126.756 |
87.630 |
63.620 |
|
|
Prior period items |
(41.578) |
1.250 |
0.658 |
|
|
Expenditure on production, transportation and other expenditure pertaining to exploration and production activities |
(50.370) |
0.000 |
0.000 |
|
|
Other expenses |
205.176 |
225.392 |
116.274 |
|
|
TOTAL |
676.595 |
746.925 |
392.629 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
121.285 |
95.314 |
77.848 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
49.805 |
51.611 |
37.962 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
71.480 |
43.703 |
39.886 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
21.345 |
22.744 |
25.794 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
50.135 |
20.959 |
14.092 |
|
|
|
|
|
|
|
Less |
TAX |
28.444 |
7.749 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
21.691 |
13.210 |
14.092 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
95.706 |
494.089 |
174.855 |
|
|
Earnings on professional
and consultation fees |
18.621 |
6.710 |
0.049 |
|
|
TOTAL EARNINGS |
114.327 |
500.799 |
174.904 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
58.257 |
38.824 |
39.084 |
|
|
Capital Goods |
0.000 |
3.648 |
0.000 |
|
|
TOTAL IMPORTS |
58.257 |
42.472 |
39.084 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
0.98 |
0.64 |
0.64 |
|
|
Diluted |
0.96 |
0.62 |
0.62 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
27.791 |
22.808 |
18.350 |
|
Net cash flows from (used in) operations |
197.976 |
77.746 |
12.392 |
|
Net cash flows from (used in) operating activities |
197.976 |
77.746 |
8.933 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
84.47 |
136.43 |
281.17 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.32 |
2.68 |
1.30 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
206.76 |
372.85 |
492.48 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.34 |
0.46 |
0.22 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.31 |
0.33 |
0.26 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.68 |
0.64 |
0.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.71 |
0.80 |
0.73 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.91 |
1.76 |
2.01 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.07 |
0.82 |
0.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.44 |
1.85 |
2.05 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
2.90 |
1.84 |
3.41 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.95 |
1.24 |
1.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.85 |
3.79 |
3.63 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.83 |
0.99 |
0.98 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.32 |
0.65 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.33 |
0.33 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.19 |
1.26 |
1.27 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.83 |
0.99 |
0.98 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
221.070 |
221.055 |
221.055 |
|
Reserves & Surplus |
167.181 |
127.924 |
149.614 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
388.251 |
348.979 |
370.669 |
|
|
|
|
|
|
Long-term borrowings |
63.706 |
44.832 |
21.760 |
|
Short term borrowings |
199.468 |
211.281 |
214.550 |
|
Current Maturities of
Long term debt |
18.350 |
22.808 |
27.791 |
|
Total borrowings |
281.524 |
278.921 |
264.101 |
|
Debt/Equity ratio |
0.725 |
0.799 |
0.712 |
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 |
412.866 |
717.539 |
747.287 |
|
|
|
73.795 |
4.146 |
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 |
412.866 |
717.539 |
747.287 |
|
Profit |
14.092 |
13.210 |
21.691 |
|
|
3.41% |
1.84% |
2.90% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
221.055 |
221.055 |
|
(b) Reserves &
Surplus |
|
141.992 |
99.064 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
363.047 |
320.119 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
21.760 |
44.832 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
11.178 |
55.375 |
|
Total Non-current
Liabilities (3) |
|
32.938 |
100.207 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
214.596 |
211.326 |
|
(b) Trade payables |
|
326.161 |
347.902 |
|
(c) Other current
liabilities |
|
163.793 |
54.437 |
|
(d) Short-term provisions |
|
32.376 |
27.910 |
|
Total Current Liabilities
(4) |
|
736.926 |
641.575 |
|
|
|
|
|
|
TOTAL |
|
1132.911 |
1061.901 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
273.077 |
284.205 |
|
(ii) Intangible Assets |
|
2.257 |
2.515 |
|
(iii) Capital
work-in-progress |
|
118.872 |
0.008 |
|
(iv) Intangible assets
under development |
|
1.800 |
0.000 |
|
(b) Non-current
Investments |
|
1.546 |
1.786 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
123.447 |
148.905 |
|
(e) Other Non-current
assets |
|
5.916 |
17.004 |
|
Total Non-Current Assets |
|
526.915 |
454.423 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
357.027 |
208.451 |
|
(c) Trade receivables |
|
189.504 |
283.845 |
|
(d) Cash and cash
equivalents |
|
14.963 |
16.468 |
|
(e) Short-term loans and
advances |
|
42.254 |
97.680 |
|
(f) Other current assets |
|
2.248 |
1.034 |
|
Total Current Assets |
|
605.996 |
607.478 |
|
|
|
|
|
|
TOTAL |
|
1132.911 |
1061.901 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
749.531 |
720.444 |
|
|
Other Income |
|
52.413 |
124.752 |
|
|
TOTAL |
|
801.944 |
845.196 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
347.330 |
313.917 |
|
|
Purchases of
Stock-in-Trade |
|
186.385 |
1.155 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(97.104) |
117.581 |
|
|
Employees benefits
expense |
|
127.215 |
93.834 |
|
|
Prior period items |
|
(41.578) |
1.405 |
|
|
Expenditure on production, transportation and other expenditure pertaining to exploration and production activities |
|
(50.370) |
0.000 |
|
|
Other expenses |
|
187.276 |
225.837 |
|
|
TOTAL |
|
659.154 |
753.729 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION |
|
142.790 |
91.467 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
49.818 |
51.689 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
92.972 |
39.778 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
21.345 |
22.745 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
71.627 |
17.033 |
|
|
|
|
|
|
|
Less |
TAX |
|
28.460 |
7.761 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
43.167 |
9.272 |
|
|
|
|
|
|
|
Add |
Share
of profit (loss) of associates |
|
(0.240) |
(0.194) |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) FOR PERIOD |
|
42.927 |
9.078 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
1.94 |
0.64 |
|
|
Diluted |
|
1.90 |
0.62 |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: As claimed by the management the registered
office of the company has been shifted from Plot No. 25 Industrial Area, Phase II,
Chandigarh – 160002, India to the present
address but the same has not been updated in the Government registry.
CORPORATE
INFORMATION (As on 31.03.2016)
The Company is a Public Limited Company incorporated on 8th November, 2004. The Company is engaged in the business of manufacturing of Cooling and Condensing System and Specifically Energy Efficient Equipments for the Sugar Industry.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
214.550 |
211.281 |
|
Total |
214.550 |
211.281 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G80554934 |
100166020 |
ICICI BANK LIMITED |
19/09/2017 |
- |
- |
857921.0 |
ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara-390007, Gujarat, India |
|
2 |
G20635934 |
100058856 |
ICICI BANK LIMITED |
27/07/2016 |
- |
- |
1240538.0 |
ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara-390007, Gujarat, India |
|
3 |
G13289574 |
100053014 |
HDFC BANK LIMITED |
15/07/2016 |
- |
- |
1934701.0 |
Senapati Bapat, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
4 |
G20571014 |
100058855 |
ICICI BANK LIMITED |
29/06/2016 |
- |
- |
723192.0 |
ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara-390007, Gujarat, India |
|
5 |
G20635397 |
100058857 |
ICICI BANK LIMITED |
29/06/2016 |
- |
- |
723192.0 |
ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara-390007, Gujarat, India |
|
6 |
G76828763 |
90183393 |
CANARA BANK (LEAD BANKER) AND BANK OF INDIA |
27/01/2005 |
03/08/2017 |
- |
370000000.0 |
MID Corporate Branch, Plot No1, Sec 34A, Chandigarhs CO 81-82, Sector 17B, Chandigarh (BOI), Chandigarh-160017, India |
|
7 |
B28940591 |
10142796 |
AXIS BANK |
02/02/2009 |
- |
30/12/2011 |
20000000.0 |
SCO 343-344,Sector-35/B, Chandigarh-160022, India |
|
8 |
B28516896 |
10144186 |
CANARA BANK & BANK OF INDIA |
27/02/2009 |
- |
26/12/2011 |
125000000.0 |
SCO - 255-56, Sector 44/C, Chandigarh (CB)SCO 10, Sector -16, Panchkula (Boi), Chandigarh-160047, India |
|
9 |
B22826911 |
10135230 |
Technology Development Board |
18/12/2008 |
- |
29/09/2011 |
43000000.0 |
Department of Science and Technology, Ministry of Science and Tech., Wing-A, Ground Floor, Vishwakarma Bhawan Shaheed JS Marg, Delhi-110016, India |
|
10 |
B17305681 |
10082851 |
CANARA BANK |
01/01/2008 |
03/10/2008 |
21/07/2011 |
100000000.0 |
SCO 255-256, Sector 44C, Chandigarh-160047, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
70.494 |
73.307 |
|
Other money for which company is contingently liable |
0.000 |
14.688 |
|
Total |
70.494 |
87.995 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and equipment
- Office equipment
- Furniture and Fixture
- Leasehold improvements
- Computer
- Vehicles
Intangible Asset:
- Computer Software
- Office equipment
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 64.93 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHR |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BHG |
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 |
NO |
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.