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MIRA INFORM REPORT
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Report No. : |
503085 |
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Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
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Name : |
CLASSIC MARBLE COMPANY PRIVATE LIMITED (w.e.f. 03.09.2010) |
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Formerly Known
As : |
CLASSIC
MARBLE IMPEX PRIVATE LIMITED |
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Registered
Office : |
15, Bhandup Village Road, Next to Ceat Tyres Factory, Subhash Nagar,
Bhandup (West), Mumbai - 400078, Maharashtra |
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Tel. No.: |
91-22-41404140 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
28.03.2008 |
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Com. Reg. No.: |
11-180617 |
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Capital
Investment / Paid-up Capital : |
INR 250.000 Million |
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CIN No.: [Company Identification
No.] |
U74999MH2008PTC180617 |
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IEC No.: |
0394030478 |
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GST No.: |
27AADCC3249H1ZQ |
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TIN No.: |
27870662319 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCC3249H |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is engaged in the business of Manufacturing, Production, Processing, Cutting, Moulding, Supply and dealing in all type of stone/marble including agglomerated marble Block /slabs/tiles, Quartz slabs/tiles, Granite slabs/tiles, Tiles, Ceramic and Vitrified tiles, products of Flooring material and Generation of Power. [Registered Activity] |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2008 and it is having fine track.
It is engaged in the manufacturing, production, processing,
cutting, moulding, supply and dealing in all type of stone/marble including
agglomerated marble Block /slabs/tiles, Quartz slabs/tiles, Granite
slabs/tiles, Tiles, Ceramic and Vitrified tiles, products of Flooring
material and Generation of Power. For the financial year 2017, the company has marginally increased in
its revenue from operation as compared to previous year and maintained
average profitability margin of 2.16%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and average debt balance sheet. Further, rating also reflects from its experienced management and
established track record of operations along with reputed and diversified
clientele. However, rating strength is partially offset by working capital
intensive operations and declined in the profitability during the year. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
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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 |
SMERA |
|
Rating |
Long term rating: BBB+ |
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Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
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Date |
08.05.2017 |
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Rating Agency Name |
SMERA |
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Rating |
Short term rating: A2 |
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Rating Explanation |
Strong degree of safety and low credit risk.
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|
Date |
08.05.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 11.04.2018
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 DECLINED
MANAGEMENT NON-COOPERATIVE (91-22-41404140)
[91-22-25666614] Incorrect Number
LOCATIONS
|
Registered Office : |
15, Bhandup Village Road, Next to Ceat Tyres Factory, Subhash Nagar,
Bhandup (West), Mumbai - 400078, Maharashtra, India |
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Tel. No.: |
91-22-41404140/41404100/25666614 |
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Fax No.: |
91-22-41404141 |
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E-Mail : |
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Website : |
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Factory 1 : |
S. No. 269/1/1/1/1/2, Village Athal, P.O. Silvassa-396230, U.T. Dadra
and Nagar Haveli, India |
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Tel. No.: |
91-260-3984000 |
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Fax No.: |
91-260-3984036 |
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E-Mail : |
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Factory 2 : |
286, Village Naroli, Near RTO Check Post, Silvassa, U.T. Dadra and
Nagar Haveli, India |
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Factory 3 : |
Survey No. 130/2, Village Athal, P O Silvassa - 396230, U.T. Dadra and
Nagar Haveli, India |
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Factory 4 : |
Survey No 90/1, Vilalge Athal, Silvassa, U.T. Dadra and Nagar Haveli,
India |
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Worli Office : |
Sri Ram Mills Compound, Gate No. 3A, Near Ansal Heights, |
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Tel. No.: |
91-22-24955994 |
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Fax No.: |
91-22-24955993 |
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E-Mail : |
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Depots: |
Located at · Plot No. 323, Phase-2, Industrial Area, Panchkula, Haryana, Indian ·
Near Umiya Campus, Opp. Agrawal mall, Gota,
S.G. Highway, · 109, Pulliyur Village, Vinayagapuram, IInd Street, Off. 100 ft. Road, (near leogue club), Koyambedu, Chennai – 600106, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Amit Mafatlal Shah |
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Designation : |
Director |
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Address : |
22nd Road, Vandan CHS, Behind Elizabeth Hospital, Doongersi Road, Malabar Hill, Mumbai - 400006, Maharashtra, India |
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Date of Birth/Age : |
29.05.1973 |
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Qualification : |
B.Com |
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Date of Appointment : |
19.11.2016 |
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PAN No.: |
ABIPS0914N |
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DIN No.: |
00007354 |
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Name : |
Mr. Madaswamy Karuppaswamy Swamy |
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Designation : |
Director |
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Address : |
Flat - 183, 18th Floor, 1B, Kalpataru Estate, J. V. Link Road, Jogeshwari (East), Mumbai - 400060, Maharashtra, India |
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Date of Birth/Age : |
01.06.1961 |
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Qualification : |
B.Sc. |
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Date of Appointment : |
28.03.2008 |
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PAN No.: |
AKTPS3175R |
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DIN No.: |
00011613 |
KEY EXECUTIVES
|
Name : |
Mr. Parul Himanshu Maniar |
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Designation : |
Company Secretary |
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Address : |
A/105, Block No. 102, 2nd Road, Shree Prastha Complex, Nallasopara (West), Mumbai - 401203, Maharashtra, India |
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Date of Birth/Age : |
26.07.1982 |
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Qualification : |
B. Com, Company Secretary From ICSI |
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Date of Appointment : |
02.08.2010 |
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PAN No.: |
ARIPM7969H |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders [Equity Shareholders] |
|
No. of Shares |
|
Mafatlal Punamchand Shah |
|
877500 |
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Popatlal Punamchand Shah |
|
877500 |
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Subodh Popatlal Shah |
|
3510000 |
|
Amit Mafatlal Shah |
|
3510000 |
|
Mukesh Pratapchand Shah |
|
540000 |
|
Dinesh Pratapchand Shah |
|
405000 |
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Jayesh Pratapchand Shah |
|
405000 |
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Karuppaswamy Madaswamy |
|
2700000 |
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Ramakrishanswamy |
|
675000 |
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Total |
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13500000 |
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Names of Shareholders [Preference Shareholders] |
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No. of Shares |
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Deepali Amit Shah |
|
169000 |
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Jayesh Pratapchand Shah |
|
19500 |
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Karuppaswamy Madaswamy |
|
130000 |
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Mafatlal Punamchand Shah |
|
42250 |
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Popatlal Punamchand Shah |
|
42250 |
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Monica Subodh Shah |
|
169000 |
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Ramakrishanswamy |
|
32500 |
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Mukesh Pratapchand Shah |
|
26000 |
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Dinesh Pratapchand Shah |
|
19500 |
|
Labh Capital Services Limited |
|
500000 |
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Total |
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1150000 |
AS ON: 23.09.2017
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters- Individual/Hindu Undivided Family- Indian |
89.00 |
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Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
11.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Manufacturing, Production, Processing, Cutting, Moulding, Supply and dealing in all type of stone/marble including agglomerated marble Block /slabs/tiles, Quartz slabs/tiles, Granite slabs/tiles, Tiles, Ceramic and Vitrified tiles, products of Flooring material and Generation of Power. [Registered Activity] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Standard Chartered Bank Narain Manzil, 23, Barakhamba Road, Delhi - 110001, Delhi, India · Standard Chartered Bank 90, M G Road, Fort, Mumbai - 400001, Maharashtra, India · Bank of Baroda Zaveri Bazar Branch, 122, Sheikh Menon Street, Trishla Building, Zaveri Bazar, Mumbai - 400002, Maharashtra, India · HDFC Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
V.C. Shah and Company Chartered Accountants |
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Address : |
12-14, 3rd Floor, Rajgir Chember, Shahid Bhagat Singh Road, Opposite Old Custom House, Mumbai - 400001, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFV8088N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13500000 |
Equity Shares |
INR 10/- each |
INR 135.000 Million |
|
1150000 |
Preference Shares |
INR 100/- each |
INR 115.000 Million |
|
|
Total |
|
INR 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13500000 |
Equity Shares |
INR 10/- each |
INR 135.000 Million |
|
1150000 |
Preference Shares |
INR 100/- each |
INR 115.000 Million |
|
|
Total |
|
INR 250.000
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 |
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|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
250.000 |
250.000 |
250.000 |
|
(b) Reserves and Surplus |
997.586 |
903.814 |
770.651 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1247.586 |
1153.814 |
1020.651 |
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
209.404 |
313.308 |
397.193 |
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(b) Deferred tax liabilities (Net) |
244.044 |
263.975 |
287.463 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
27.207 |
21.908 |
18.377 |
|
Total Non-current
Liabilities (3) |
480.655 |
599.191 |
703.033 |
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(4)
Current Liabilities |
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|
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|
(a) Short-term
borrowings |
2446.253 |
2446.352 |
2257.046 |
|
(b) Trade
payables |
547.641 |
499.729 |
621.603 |
|
(c) Other
current liabilities |
573.094 |
824.304 |
842.187 |
|
(d) Short-term
provisions |
60.598 |
47.047 |
30.542 |
|
Total Current
Liabilities (4) |
3627.586 |
3817.432 |
3751.378 |
|
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TOTAL |
5355.827 |
5570.437 |
5475.062 |
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II.
ASSETS |
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|
|
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(1)
Non-current assets |
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|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
2102.031 |
2101.049 |
2250.580 |
|
(ii)
Intangible Assets |
1.415 |
1.995 |
5.152 |
|
(iii) Tangible assets
capital work-in-progress |
110.172 |
140.705 |
11.399 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
1.514 |
34.552 |
148.498 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2215.132 |
2278.301 |
2415.629 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1861.898 |
1909.829 |
1771.446 |
|
(c) Trade
receivables |
738.720 |
627.348 |
652.949 |
|
(d) Cash and
bank balances |
142.310 |
184.377 |
178.372 |
|
(e)
Short-term loans and advances |
343.012 |
422.161 |
415.869 |
|
(f) Other
current assets |
54.755 |
148.421 |
40.797 |
|
Total
Current Assets |
3140.695 |
3292.136 |
3059.433 |
|
|
|
|
|
|
TOTAL |
5355.827 |
5570.437 |
5475.062 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
4344.200 |
4336.193 |
3959.230 |
|
|
Other Income |
121.558 |
61.212 |
119.132 |
|
|
TOTAL |
4465.758 |
4397.405 |
4078.362 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2292.082 |
2103.904 |
1746.476 |
|
|
Purchases of
Stock-in-Trade |
376.368 |
485.768 |
660.740 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(184.752) |
(147.099) |
(39.017) |
|
|
Employee benefit expense |
276.501 |
255.691 |
236.334 |
|
|
CSR expenditure |
4.157 |
2.615 |
1.700 |
|
|
Other expenses |
1051.227 |
900.453 |
807.786 |
|
|
TOTAL |
3815.583 |
3601.332 |
3414.019 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
650.175 |
796.073 |
664.343 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
302.675 |
312.921 |
328.538 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
347.500 |
483.152 |
335.805 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
178.954 |
174.175 |
181.663 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
168.546 |
308.977 |
154.142 |
|
|
|
|
|
|
|
Less |
TAX |
74.774 |
136.277 |
(20.490) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
93.772 |
172.700 |
174.632 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
322.938 |
463.057 |
458.179 |
|
|
TOTAL EARNINGS |
322.938 |
463.057 |
458.179 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1084.130 |
1258.334 |
1304.678 |
|
|
Components and spare
parts |
61.703 |
54.895 |
58.359 |
|
|
Capital Goods |
0.000 |
52.768 |
8.498 |
|
|
TOTAL IMPORTS |
1145.833 |
1365.997 |
1371.534 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.95 |
12.79 |
12.94 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
12.981 |
81.438 |
171.115 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
451.770 |
91.076 |
329.412 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
695.570 |
299.882 |
583.070 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
62.07 |
52.81 |
60.20 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.88 |
6.91 |
6.06 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
74.91 |
70.43 |
94.25 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.35 |
0.42 |
0.38 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.29 |
0.35 |
0.29 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.72 |
0.76 |
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.14 |
2.46 |
2.77 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.91 |
3.31 |
3.68 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.77 |
1.94 |
2.22 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.15 |
2.54 |
2.02 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.16 |
3.98 |
4.41 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.75 |
3.10 |
3.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
7.52 |
14.97 |
17.11 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.87 |
0.86 |
0.82 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.35 |
0.36 |
0.34 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.23 |
0.21 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
10.67 |
11.36 |
11.30 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.87 |
0.86 |
0.82 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
250.000 |
250.000 |
250.000 |
|
Reserves & Surplus |
770.651 |
903.814 |
997.586 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1020.651 |
1153.814 |
1247.586 |
|
|
|
|
|
|
Long-term borrowings |
397.193 |
313.308 |
209.404 |
|
Short term borrowings |
2257.046 |
2446.352 |
2446.253 |
|
Current maturities of
long-term debts |
171.115 |
81.438 |
12.981 |
|
Total
borrowings |
2825.354 |
2841.098 |
2668.638 |
|
Debt/Equity
ratio |
2.768 |
2.462 |
2.139 |
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 |
3959.230 |
4336.193 |
4344.200 |
|
|
|
9.521 |
0.185 |
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 |
3959.230 |
4336.193 |
4344.200 |
|
Profit/ (Loss) |
174.632 |
172.700 |
93.772 |
|
|
4.41
% |
3.98
% |
2.16
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G79600128 |
10133956 |
BANK OF BARODA |
22/11/2008 |
01/03/2018 |
- |
1793600000.0 |
ZAVERI BAZAR BRANCH, 122, SHEIKH MENON STREET,TRISHLA BUILDING, ZAVERI BAZAR,MUMBAIDN396230IN |
|
2 |
C62230925 |
10133957 |
BANK OF BARODA |
22/11/2008 |
- |
21/08/2015 |
1209200000.0 |
ZAVERI BAZAR BRANCH, 122, SHEIKH MEMON STREET,TRISHLA BUILDING, ZAVERI BAZAR,MUMBAIMH400002IN |
|
3 |
B45149671 |
10116382 |
STANDARD CHARTERED BANK |
12/08/2008 |
22/03/2010 |
19/07/2012 |
150000000.0 |
NARAIN MANZIL23, BARAKHAMBA ROAD,DELHIDL110001IN |
|
4 |
B00173278 |
10132477 |
UNION BANK OF INDIA |
21/10/2008 |
- |
02/12/2010 |
250000000.0 |
PRINCESS STREET BRANCH,DEVKARAN MANSION, SHAMALDAS GANDHI MARG,MUMBAIMH400002IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
208.590 |
310.250 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from directors |
1087.250 |
803.400 |
|
Loans and advances from others |
211.375 |
353.988 |
|
|
|
|
|
Total |
1507.215 |
1467.638 |
COMPANY
INFORMATION
Subject is a company incorporated in India. The company is engaged in the business of Manufacturing, Production, Processing, Cutting, Moulding, Supply and dealing in all type of stone/marble including agglomerated marble Block /slabs/tiles, Quartz slabs/tiles, Granite slabs/tiles, Tiles, Ceramic and Vitrified tiles, products of Flooring material and Generation of Power.
PERFORMANCE REVIEW:
The Company has
maintained its pace during the Financial Year 2016-2017 and reported total
income of INR 4465.758 Million during the year as compared to total income of
INR 4397.405 Million in the financial year 2015-2016. The Net Profit Before Tax
stood at INR 168.546 Million and Net Profit After Tax stood at INR 93.772
Million.
BUSINESS OVERVIEW:
Their Company is
biggest supplier of natural marble and granite along with other precious stones
such as travertine, onyx, limestone and a host of exotic stones, which are
procured from some of the finest reserves in the world. Today, their brand name
“Kalingastone” for engineered stones is a dominant player in the segment.
The Financial Year
2016-2017 was a challenging year for the Company. There was a major change in
Import Policy for marbles in India. The changes are definitely very positive
for the Industry, however due to sudden announcement and certain changes in
short term, it resulted into higher cost of import. During the year, due to
slow down in real estate industry, adverse scenario, the uncertainty prevailing
post Demonetization and particularly the announcement of RERA, the developers
and builders had postponed their projects and resulted in stagnant demand of
the products. In spite of such adverse scenario, the Company has been
successfully hold its fort by better product mix, cost saving measures and
efficient working capital management.
The Company is
reaping rich benefits by its long term relationships with several major clients
in India and abroad. The Company has evolved accepting the changing customers
demand and thrust its focus on the new products in ceramic tiles in brand name
of Techlam and FMG Maxfine Iris, which are manufactured with the use of
innovative technology.
They are very
positive on the long term future of the Company. They will aim to continually
create value for their shareholders. They will aim to expand in new markets and
will penetrate further in their existing markets. They are hopeful for the next
year that there will be good growth and the total income may increase substantially.
The Directors are optimistic that on the basis of decrease in interest rate on
home loan, Government policies for infrastructure development, construction of
new airports, demand for granites and marbles would spurt and show the
incremental growth.
The Company
continues to maintain its reputation as one of the most largest manufacturers
& providers of choicest and exclusive range of Marbles & Granites. The
Company has strived to innovate in technology and marketing and has evolved
accepting the changing customer demands and aspirations
This year, the
Company has created and conceptualized fabulous display center known as 9th
Avenue at Silvassa. The place is been visited by the persons who are in the
Interior industry and receive all around praised.
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Leasehold improvements
Intangible assets
- Brands and trade marks
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 64.94 |
|
|
1 |
INR 91.75 |
|
Euro |
1 |
INR 79.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
RUP |
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.