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MIRA INFORM REPORT
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Report No. : |
503252 |
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Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SIGNET INDUSTRIES LIMITED |
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Registered
Office : |
308, Acme Plaza, Opposite Sangam Cinema, Andheri Kurla Road,
Andheri (East), Mumbai – 400059, Maharashtra |
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Tel. No.: |
91-22-32448061-64 / 30888064 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.01.1985 |
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Com. Reg. No.: |
11-035202 |
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Capital
Investment / Paid-up Capital : |
INR 404.370 Million |
|
|
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|
CIN No.: [Company Identification
No.] |
L51900MH1985PLC035202 |
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|
|
IEC No.: [Import-Export Code No.] |
1194004156 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCS3489F1Z6 23AABCS3489F2ZD |
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PAN No.: [Permanent Account No.] |
AABCS3489F |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Merchant Trader and Importer of All Kind of Polymers and Other Products and Manufacturer of Micro Irrigation System (DRIP), Sprinkler Pipe / PVC Pipe and Agro fittings and its Allied Products, all type of House Hold and Plastic Moulded Furniture. (Registered activity and also Confirmed by management) |
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No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 4300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1985. It is a trader and importer of Polymers and manufacturer of Micro Irrigation system HDP Pipe, PVC Pipe, Home Appliances and Allied products. For the financial year 2017, the company has achieved 17.43% growth in its revenue as compared to previous year revenue along with average profit margin of 2.07%. The sound financial profile of the healthy networth base along with negligible debt level. The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. The company has its share price trading at around INR 8.05 against the Face Value (FV) of INR 01 on BSE as on 10th April, 2018. As per the unaudited quarterly financials of December 2017, the company has achieved revenue of INR 2172.615 million and has reported profit margin of 2.23%. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CRISIL |
|
Rating |
Long Term (Issuer Not Co-operating) = BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
07.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term (Issuer Not Co-operating) = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
07.11.2017 |
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 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Pariwal |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-731-4217800 |
|
Date : |
10.04.2018 |
LOCATIONS
|
Registered Office : |
308, Acme Plaza, Opposite Sangam Cinema, Andheri-Kurla
Road, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-32448061-64 / 30888064 / 30888061 |
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Fax No.: |
91-22-56941567 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Administrative / Corporate Office : |
Survey No. 314/3, SDA Compound, Lasudia Mori, Dewas Naka, Indore
– 452001, Madhya Pradesh, India |
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Tel. No.: |
91-731-4217800 |
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Fax No.: |
91-731-4217867 |
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E-Mail : |
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Factory: |
Plot No: 462-465, Sector-3, Industrial Area, Pithampur, District Dhar,
Madhya Pradesh, India |
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Warehouse : |
Located at:
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mukesh Sangla |
|
Designation : |
Managing Director |
|
Address: |
1-B, Gulmohar Ext., Indore - 452001, Madhya Pradesh, India |
|
Date of Appointment : |
10.04.1991 |
|
DIN No.: |
00189676 |
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Name : |
Mr. Saurabh Sangla |
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Designation : |
Director |
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Address: |
1-B, Gulmohar Ext., Indore - 452001, Madhya Pradesh, India |
|
Date of Appointment : |
07.07.2003 |
|
DIN No.: |
00206069 |
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Name : |
Mrs. Nishtha Neema |
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Designation : |
Director |
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Address: |
26, Saraswati Nagar,, Annapurna Road, Indore - 452009, Madhya Pradesh, India |
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Date of Birth/ Age: |
01.12.1980 |
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Expertise in Specific Functional Area : |
Audit, Finance and Taxation |
|
Date of Appointment : |
13.08.2014 |
|
DIN No.: |
01743710 |
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|
|
|
Name : |
Mr. Murli Dhar Vashist |
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Designation : |
Director |
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Address: |
62/11, Rajasthan Housing Board, Pratap Nagar , Sanganer, Jaipur - 302033, Rajasthan, India |
|
Date of Birth/ Age: |
10.06.1974 |
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Date of Appointment : |
22.10.2009 |
|
Expertise in Specific Functional Area : |
Audit, Finance and Taxation |
|
DIN No.: |
02824595 |
|
|
|
|
Name : |
Mr. Akhilesh Gupta |
|
Designation : |
Director |
|
Address: |
Bihari Ji Ka Mandir, Biaora - 465674, Madhya Pradesh, India |
|
Date of Appointment : |
01.03.2015 |
|
DIN No.: |
07106214 |
|
|
|
|
Name : |
Mr. Palak Malviya |
|
Designation : |
Director |
|
Address: |
943, Sudama Nagar, Near Mata Mandir, Indore – 452009, Madhya Pradesh, India |
|
Date of Appointment : |
26.03.2018 |
|
DIN No.: |
07795827 |
KEY EXECUTIVES
|
Name : |
Mrs. Preeti Singh |
|
Designation : |
Company Secretary |
|
Address: |
Flat No. 301, Vasila Apartment, Near Dhobi Ghat, New Palasia, Indore - 452001, Madhya Pradesh, India |
|
Date of Appointment : |
30.08.2012 |
|
PAN No.: |
AMSPC0123A |
|
|
|
|
Name : |
Mr. Jagdish Chandr Paliwal |
|
Designation : |
Chief Financial Officer |
|
Address: |
24 C, Seva Sardar Nagar, Near Geeta Bhawan, Indore - 452001, Madhya Pradesh, India |
|
Date of Appointment : |
12/05/2016 |
|
PAN No.: |
AFYPP3780M |
|
|
|
|
Name : |
Mr. Pariwal |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on December 2017
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares |
|
|
(A) Promoter & Promoter
Group |
203910000 |
69.27 |
|
|
(B) Public |
90460000 |
30.73 |
|
|
Grand Total |
294370000 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as a
% of total no. of shares |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
57599540 |
19.57 |
|
|
MUKESH SANGLA |
34100720 |
11.58 |
|
|
MONIKA SANGLA |
21435000 |
7.28 |
|
|
AVANTIKA SANGLA |
1500000 |
0.51 |
|
|
MUKESH SANGLA |
443820 |
0.15 |
|
|
SAURABH SANGLA |
120000 |
0.04 |
|
|
Any
Other (specify) |
146310460 |
49.70 |
|
|
SHREE BALAJI STARCH AND
CHEMICALS LIMITED |
38862000 |
13.20 |
|
|
SWAN IRRIGATION PRIVATE
LIMITED |
28917000 |
9.82 |
|
|
ADROIT INDUSTRIES INDIA
LIMITED |
27250000 |
9.26 |
|
|
ORINATE LEASING AND FINANCE |
10944000 |
3.72 |
|
|
SIGNATE LEASING AND FINANCE |
10817460 |
3.67 |
|
|
SIGNET IMPEX PRIVATE LIMITED |
9840000 |
3.34 |
|
|
SIGNET TRADELINKS PRIVATE
LIMITED |
9840000 |
3.34 |
|
|
ORNATE IMPEX |
9840000 |
3.34 |
|
|
Sub
Total A1 |
203910000 |
69.27 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
203910000 |
69.27 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
B1)
Institutions |
0 |
0.00 |
|
|
B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual
share capital upto INR 0.200 Million |
42851271 |
14.56 |
|
|
Individual
share capital in excess of INR 0.200 Million |
2497897 |
0.85 |
|
|
Any
Other (specify) |
45110832 |
15.32 |
|
|
Sub
Total B3 |
90460000 |
30.73 |
|
|
B=B1+B2+B3 |
90460000 |
30.73 |
BUSINESS DETAILS
|
Line of Business : |
Merchant Trader and Importer of All Kind of Polymers and Other Products and Manufacturer of Micro Irrigation System (DRIP), Sprinkler Pipe / PVC Pipe and Agro fittings and its Allied Products, all type of House Hold and Plastic Moulded Furniture. (Registered activity and also Confirmed by management) |
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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 : |
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Countries : |
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Terms : |
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Selling : |
Advance Payment, L/C and Credit (30 / 60 / 90 Days) |
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Purchasing : |
Advance Payment, L/C and Credit (30 / 60 / 90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
600 (Approximately) |
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Bankers : |
·
Punjab National Bank, Sitlamata Bazar Main
Road, Cloth Market, Sitlamata, Maharaja Tukoji Rao Holker Cloth Market,
Indore-452002, Madhya Pradesh, India ·
UCO Bank, 2/5, 3/5, Girnar Tower, New
Palasia Branch, Indore-452003, Madhya Pradesh, India ·
Union Bank of India ·
Dena Bank |
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Facilities : |
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Auditors : |
|
|
Name : |
Ashok Khasgiwala and Company Chartered Accountants |
|
Address : |
702, Shekhar Central, Palasia Square, A. B. Road, Indore-452001 Madhya Pradesh, India |
|
Tel. No.: |
91-731-2517341 / 4069301 |
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Mobile No.: |
91-9770067763 / 9111110023 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Other parties /
Companies where key managerial persons or their relatives have significant
influence: |
·
Androit Industries (India) Limited |
CAPITAL STRUCTURE
After 26.09.2017
Authorised Capital : INR 500.000
Million
Issued, Subscribed & Paid-up Capital : INR 344.370 Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
INR 1/- each |
INR 300.000 Million |
|
5000000 |
5% Non-Cumulative Redeemable Preferences Shares |
INR 10/- each |
INR 50.000 Million |
|
15000000 |
2% Non-Cumulative Redeemable Preference |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
294370000 |
Equity Shares |
INR 1/- each |
INR 294.370
Million |
|
5000000 |
5% Non-Cumulative Redeemable Preferences Shares |
INR 10/- each |
INR 50.000
Million |
|
6000000 |
2% Non-Cumulative Redeemable Preference |
INR 10/- each |
INR 60.000
Million |
|
|
|
|
|
|
|
Total |
|
INR 404.370 Million |
Reconciliation of number
of Equity Shares and amount outstanding:
|
Particulars |
As at 31st March 17 |
|
|
No. of Shares |
Amount |
|
|
Equity Shares at the beginning of the year |
291870000 |
291.870 |
|
Add : Issued during the year |
2500000 |
2.500 |
|
Equity Shares at the end of the year |
294370000 |
294.370 |
Reconciliation of
number of Preference Shares and amount outstanding:
|
Particulars |
As at 31st March 17 |
|
|
|
No. of Shares |
Amount |
|
A. 5% Non-Convertible,
Non-Cumulative Redeemable Preference Shares |
||
|
At the beginning of the year |
5000000 |
50.000 |
|
Add : Issued during the year |
-- |
-- |
|
At the end of the year |
5000000 |
50.000 |
|
B. 2% Non-Convertible,
Non-Cumulative Redeemable Preference Shares |
||
|
At the beginning of the year |
6000000 |
60.000 |
|
Add : Issued during the year |
-- |
-- |
|
At the end of the year |
6000000 |
60.000 |
Terms / Rights
attached to Equity Shares :
The company has only one class of equity shares having a par value of Rs. 1 per share. Each shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders will be entitled to receive the remaining assets of the Company after distribution of all preferential amounts in proportion to their shareholding.
Terms / Rights
attached to Preference Shares :
A. 5% Non
Convertible, Non Cumulative Redeemable Preference Shares
Preference Shares are Non Convertible, Non Cumulative, Redeemable and have a par value of Rs.10/- per share. Each Preference Shareholder is eligible for one vote per share only on resolution affecting their rights and interest. Shareholders are entitled to dividend at the rate of 5% p.a. which is non cumulative. In the event of liquidation of the Company before redemption the holders of preference shares will have priority over equity shares in the payment of dividend and repayment of capital.
The Company has allotted 50,00,000, 5% Non Convertible, Non Cumulative, Redeemable Preference Shares of Rs. 10/- each on 8th October 2012. The preference shares are redeemable at par, not being after 20 years from the date of allotment, to be decided by the board of directors
B. 2% Non
Convertible, Non Cumulative Redeemable Preference Shares
Preference Shares are Non Convertible, Non Cumulative, Redeemable and have a par value of Rs.10/- per share. Each Preference Shareholder is eligible for one vote per share only on resolution affecting their rights and interest. Shareholders are entitled to dividend at the rate of 2% p.a. which is non cumulative. In the event of liquidation of the Company before redemption the holders of preference shares will have priority over equity shares in the payment of dividend and repayment of capital.
The Company has allotted 54,00,000, 2% Non Convertible, Non Cumulative, Redeemable Preference Shares of Rs. 10/- each at a premium of Rs. 40/- per share on 27th March 2015. and 6,00,000 Shares on 14th May, 2015. The preference shares shall be redeemed of Rs. 80/- (Rupees Eight only) other the end of fifth year but within a period of 20 years either in one or more than one trenches as may be deterrmined by the board of directors of the company in its absolute discrition.
Equity Shareholders
holding more than 5% equity shares:
|
Name of the
Shareholder |
As at 31st March 17 |
|
|
|
No. of Shares |
% |
|
Mukesh Sangla HUF |
45800720 |
15.56% |
|
Shri Balaji Starch & Chemicals Private Limited |
38862000 |
13.20% |
|
Swan Irrigation Private Limited |
28917000 |
9.82% |
|
Adroit Industries (India) Limited |
27250000 |
9.26% |
|
Mr. Mukesh Sangla |
-- |
-- |
|
Mrs. Monika Sangla |
22435000 |
7.62% |
|
Mr. Saurabh Sangla |
-- |
-- |
|
Ornate Impex Private Limited |
20784000 |
7.06% |
|
Signet Tradelinks Private Limited |
20657460 |
7.02% |
5% Non-Convertible, Non-Cumulative
Preference Shareholders holding more than 5% preference shares:
|
Name of the
Shareholder |
As at 31st March 17 |
|
|
|
No. of Shares |
% |
|
Avance Technologies Limited |
1205000 |
24.10% |
|
Asan Investments & Finance Limited |
1000000 |
20.00% |
|
Advance Corpcare (India) Private Limited |
600000 |
12.00% |
|
Advance Fertilizers (India) Private Limited |
500000 |
10.00% |
|
Ayushi Daga |
350000 |
7.00% |
|
Dinesh Kumar Maheshwari |
345000 |
6.90% |
|
RSD Capital Market Private Limited |
-- |
0.00% |
2% Non-Convertible,
Non-Cumulative Preference Shareholders holding more than 5% preference shares:
|
Name of the
Shareholder |
As at 31st March 17 |
|
|
Adroit Industries (India) Limited |
3200000 |
53.33% |
|
Lucky Commotrade Private Limited |
1000000 |
16.67% |
|
Swan Petrochemicals Private Limited |
1400000 |
23.33% |
|
Kamdeep Marketing Private Limited |
400000 |
6.67% |
For the period of five years immediately preceding the date at which the Balance Sheet is prepared i.e. 31st March, 2017, the company has not allotted any bonus shares, any shares pursuant to contract(s) without payment being received in cash, and bought back any shares/class of shares
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
404.370 |
401.870 |
395.870 |
|
(b) Reserves & Surplus |
1100.008 |
756.996 |
580.905 |
|
(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) |
1504.378 |
1158.866 |
976.775 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
347.687 |
543.581 |
595.075 |
|
(b) Deferred tax liabilities
(Net) |
131.214 |
132.279 |
124.591 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.017 |
6.818 |
4.660 |
|
Total
Non-current Liabilities (3) |
486.918 |
682.678 |
724.326 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1562.010 |
1256.788 |
1035.375 |
|
(b) Trade payables |
2042.645 |
1725.181 |
1822.967 |
|
(c) Other current liabilities |
225.876 |
257.511 |
418.257 |
|
(d) Short-term provisions |
83.031 |
64.637 |
32.009 |
|
Total
Current Liabilities (4) |
3913.562 |
3304.117 |
3308.608 |
|
|
|
|
|
|
TOTAL |
5904.858 |
5145.661 |
5009.709 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
723.491 |
774.691 |
813.687 |
|
(ii) Intangible Assets |
0.033 |
0.090 |
0.147 |
|
(iii) Capital work-in-progress |
40.970 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.045 |
0.045 |
0.045 |
|
(b) Non-current Investments |
0.421 |
0.669 |
0.651 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
48.368 |
48.794 |
53.689 |
|
(e) Other Non-current assets |
20.301 |
41.859 |
15.531 |
|
Total
Non-Current Assets |
833.629 |
866.148 |
883.750 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1277.371 |
1034.570 |
1168.529 |
|
(c) Trade receivables |
3103.128 |
2649.356 |
2275.251 |
|
(d) Cash and cash equivalents |
277.026 |
342.268 |
398.244 |
|
(e) Short-term loans and
advances |
396.016 |
240.869 |
256.019 |
|
(f) Other current assets |
17.688 |
12.450 |
27.916 |
|
Total
Current Assets |
5071.229 |
4279.513 |
4125.959 |
|
|
|
|
|
|
TOTAL |
5904.858 |
5145.661 |
5009.709 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
9318.955 |
7935.718 |
6562.664 |
|
|
Other Income |
45.232 |
31.096 |
69.272 |
|
|
TOTAL
|
9364.187 |
7966.814 |
6631.936 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1955.578 |
1873.118 |
1853.905 |
|
|
Purchases of Stock-in-Trade |
6307.805 |
4705.079 |
3826.071 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(268.244) |
50.398 |
(247.508) |
|
|
Employees benefits expense |
156.725 |
136.601 |
123.015 |
|
|
Exceptional / Extraordinary
Items |
0.000 |
0.000 |
-9.243 |
|
|
Other expenses |
535.660 |
504.640 |
438.003 |
|
|
TOTAL |
8687.524 |
7269.836 |
5984.243 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
676.663 |
696.978 |
647.693 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
369.070 |
400.104 |
425.873 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
307.593 |
296.874 |
221.820 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
65.870 |
65.578 |
64.506 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
241.723 |
231.296 |
157.314 |
|
|
|
|
|
|
|
Less |
TAX |
48.710 |
57.204 |
40.279 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
193.013 |
174.092 |
117.035 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
496.473 |
344.382 |
227.792 |
|
|
|
|
|
|
|
Add |
Depreciation
Adjustment as per Schedule II of the Companies Act, 2013 (Net of tax expenses
of INR 0.236 Million) |
0.000 |
0.000 |
(0.445) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend - Preference
shares |
0.000 |
3.686 |
0.000 |
|
|
Proposed Dividend - Equity
shares |
0.000 |
14.594 |
0.000 |
|
|
Tax on Dividend |
0.000 |
3.721 |
0.000 |
|
|
Total
|
0.000 |
22.001 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
689.486 |
496.473 |
344.382 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1474.799 |
1120.085 |
967.388 |
|
|
Components and Stores parts |
0.000 |
0.045 |
0.158 |
|
|
Capital Goods |
0.391 |
0.000 |
4.540 |
|
|
TOTAL
IMPORTS |
1475.190 |
1120.130 |
972.086 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.66 |
0.40 |
0.40 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
64.368 |
140.004 |
277.780 |
|
Cash generated from operations |
167.051 |
316.191 |
708.785 |
|
Net cash flow from operating activity |
147.377 |
281.971 |
646.134 |
QUARTERLY RESULTS
|
Particulars |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
|
1ST Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
2735.740 |
1851.710 |
2172.620 |
|
Total Expenditure |
2565.600 |
1725.840 |
1980.250 |
|
PBIDT (Excl OI) |
170.140 |
125.870 |
192.370 |
|
Other Income |
5.010 |
6.960 |
4.950 |
|
Operating Profit |
175.140 |
132.830 |
197.310 |
|
Interest |
104.940 |
95.550 |
104.750 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
70.200 |
37.280 |
92.550 |
|
Depreciation |
16.170 |
15.980 |
16.890 |
|
Profit Before Tax |
54.030 |
21.290 |
75.660 |
|
Tax |
16.390 |
6.980 |
27.090 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
37.640 |
14.310 |
48.570 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
37.640 |
14.310 |
48.570 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
121.54 |
121.86 |
126.54 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.00 |
3.00 |
2.88 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
90.23 |
95.72 |
117.15 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.53 |
0.67 |
0.55 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.89 |
0.90 |
0.80 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.73 |
0.77 |
0.83 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.31 |
1.67 |
1.95 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.60 |
2.85 |
3.39 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.51 |
0.67 |
0.83 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.83 |
1.74 |
1.52 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.07 |
2.19 |
1.78 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.27 |
3.38 |
2.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
12.83 |
15.02 |
11.98 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.30 |
1.30 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.97 |
0.98 |
0.89 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.25 |
0.23 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.88 |
4.83 |
4.82 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.30 |
1.30 |
1.25 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 01.00/- |
|
Market Value |
INR 8.05/- |
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 |
395.870 |
401.870 |
404.370 |
|
Reserves & Surplus |
580.905 |
756.996 |
1100.008 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
976.775 |
1158.866 |
1504.378 |
|
|
|
|
|
|
Long Term borrowings |
595.075 |
543.581 |
347.687 |
|
Short Term borrowings |
1035.375 |
1256.788 |
1562.010 |
|
Current Maturities of Long term debt |
277.780 |
140.004 |
64.368 |
|
Total
borrowings |
1908.230 |
1940.373 |
1974.065 |
|
Debt/Equity
ratio |
1.954 |
1.674 |
1.312 |
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
|
6562.664 |
7935.718 |
9318.955 |
|
|
|
20.922 |
17.431 |
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
|
6562.664 |
7935.718 |
9318.955 |
|
Profit |
117.035 |
174.092 |
193.013 |
|
|
1.78% |
2.19% |
2.07% |
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 |
Yes |
|
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 |
COMPANY INFORMATION
Signet Industries Limited was incorporated on January 29, 1985 under the Companies Act 1956, having its Registered Office in Mumbai. Company is engaged in Merchant Trading of All Kind of Polymers and Other Products and Manufacturing of Micro Irrigation System (DRIP), Sprinkler Pipe / PVC Pipe and Agro fittings and its Allied Products, all type of House Hold and Plastic Moulded Furniture. The Company’s shares are listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The Company’s shares are traded on both Bombay Stock Exchange and National Stock Exchange of India Limited.
PERFORMANCE
HIGHLIGHTS
The Company continued to maintain its upward trend by registering Sales of INR 9318.955 Million as against INR 7935.719 Million in the previous year. However, Profit before Finance Costs, Depreciation, and Tax has decreased from INR 696.978 Million to INR 676.663 Million. After providing for finance costs and Depreciation amounting to INR 369.070 Million and INR 65.870 Million respectively, the Profit before Tax for the year has amounted to INR 241.723 Million as compared to INR 231.295 Million in the previous year. Net profit after tax for the year is INR 193.013 Million as compared to INR 174.092 Million in the previous year.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
OVERVIEW
As the third largest consumer of polymers, India ranks only after China and USA. Evaluation of the polymer industry trends reveals strong growth prospects citing the increased usage of plastics across sectors. The sector is projected to grow at the rate of 6.2% in 2015 and 6.8 in 2016 citing the growing demand from various industries. Furthermore, with the key market players integrating more back-end exploration and refining businesses, alongside streamlining their sourcing operations, opportunities are expected to increase in the coming years.
With this change of guard in government, industry will also revive which will also consume lots of pipes in coming years which is mainly because of demand in agriculture pipes, plumbing pipes and industrial pipes.
Four major factors are contributing to the favorable outlook: shale oil and gas developments, regional market expansion, innovation and increased awareness. PVC pipe demand is projected to accelerate through 2020, reaching 33.2 million metric tons. Through to 2020, HDPE demand is projected to rise 7.8% a year to 18.1 million metric tons.
The Indian Pipe Industry has experienced rapid growth in the last several years. The major reasons for the growth of this industry is increasing demand for pipes in the irrigation sector, oil and gas sector and also the real estate industry. The demand for plastic pipes such as PVC and CPVC is also increasing as these pipes are better in quality and durability. Infrastructure development, urbanization and the subsequent development of residential and industrial construction are facilitating the growth of the pipe Industry in India.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Intercorporate Deposits |
64.852 |
206.883 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Working capital Loan From Banks |
23.962 |
14.093 |
|
Buyers Credit from Bank |
476.409 |
364.771 |
|
Intercorporate Deposits |
0.000 |
2.500 |
|
Total |
565.223 |
588.247 |
|
Note: Short Term
Borrowing a. (i) Working Capital Loans from Banks amounting to INR 1061.639 Million (Pre. Year INR 875.423 Million) are secured by hypothecation of stock of raw materials, work in process, finished goods, other current assets and charge on book debts, second pari passu charge on the Fixed Assets (both present and future) of the company, extension of equitable mortgage of the immovable properties situated at Industrial Area Pithampur and Kelodhala, Dewas Naka, Indore and personal guarantee of Mr. Mukesh Sangla and Mr. Saurabh Sangla, Directors of the company and Mrs. Monika Sangla and Corporate Guarantee of M/s Kamdeep Marketing Private Limited. (ii) Short Term Borrowings aggregating to INR 1061.639 Million (Pre. Year INR 875.423 Million) are secured by Personal Guarantee of Directors Mr. Mukesh Sangla and Mr. Saurabh Sangla and Mrs. Monika Sangla and corporate guarantee of M/s Kamdeep Marketing Private Limited. b. During the year Company has availed buyer’s credit outstanding as at 31st March 2017 INR 476.409 Million (Pre. Year INR 364.771 Million) is guaranteed by the bank against lien in Non Fund Based limit. c. During the year compnay has availed loan from Axis Bank under Channel Financing Scheme, the said facility oustanding as at 31st March, 2017 INR 23.962 Million (Pre. Year INR 14.093 Million) is Guaranteed by Directors Mr. Mukesh Sangla and Mr. Saurabh Sangla. |
||
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G68947233 |
100137803 |
UCO Bank |
28/11/2017 |
- |
- |
1790000000.0 |
2/5, 3/5, Girnar Tower,New Palasia,Indore |
|
2 |
G73333007 |
100146368 |
HDFC BANK LIMITED |
18/11/2017 |
- |
- |
659000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WMUMBAIMH400013IN |
|
3 |
G54896303 |
100125407 |
The Shamrao Vithal Co-operative Bank Limited |
01/09/2017 |
- |
- |
750000.0 |
ADITYA ENCLAVE, C-1, HIG SQUARELIG MAIN ROADINDOREMP452008IN |
|
4 |
G51766681 |
100119102 |
The Shamrao Vithal Co-operative Bank Limited |
14/08/2017 |
- |
- |
634000.0 |
ADITYA ENCLAVE, C-1, HIG SQUARELIG MAIN ROADIndoreMP452008IN |
|
5 |
G42123620 |
100092937 |
The Shamrao Vithal Co-operative Bank Limited |
28/03/2017 |
- |
- |
1200000.0 |
ADITYA ENCLAVE, C-1, HIG SQUARELIG MAIN ROADINDOREMP452008IN |
|
6 |
G33666371 |
100072809 |
The Shamrao Vithal Co-operative Bank Limited |
11/01/2017 |
- |
- |
100000000.0 |
C-1, Aditya Enclave, LIG Main Road,LIG Colony, Indore.IndoreMP452008IN |
|
7 |
G31774805 |
100068707 |
HDFC BANK LIMITED |
30/07/2016 |
- |
- |
1155000.0 |
HDFC Bank HouseSenapati Bapat Marg, Lower Parel WestMumbaiMH400013IN |
|
8 |
G79777876 |
100044118 |
UCO Bank |
01/07/2016 |
05/03/2018 |
- |
3861000000.0 |
2/5, 3/5, Girnar TowerNew Palasia BranchIndoreMP454775IN |
|
9 |
G31774193 |
100068705 |
HDFC BANK LIMITED |
08/06/2016 |
- |
- |
773000.0 |
HDFC Bank HouseSenapati Bapat Marg, Lower Parel WestMumbaiMH400013IN |
|
10 |
G05720388 |
100033161 |
HERO FINCORP LIMITED |
11/04/2016 |
- |
- |
10434000.0 |
34, COMMUNITY CENTRE, BASANT LOKVASANT VIHARNEW DELHIDe110057IN |
STATEMENT OF STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST
DECEMBER 2017
|
|
|
Particulars |
Quarter ended |
Quarter ended |
Nine months ended |
|
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
1 |
|
Income from
Operations |
|
|
|
|
|
|
Sales/Income from Operations (Gross) |
2172.615 |
1851.705 |
6760.057 |
|
|
|
b) Other Operating Income |
4.951 |
6.963 |
16.921 |
|
|
Total Income from
Operations (Net) |
2177.566 |
1858.668 |
4776.977 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Cost of Materials consumed |
641.188 |
319.573 |
1353.860 |
|
|
b) |
Purchase of Stock-in-trade |
1194.494 |
1489.657 |
4472.205 |
|
|
c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(44.396) |
(168.036) |
(45.305) |
|
|
d) |
Employee benefit expenses |
59.852 |
40.973 |
149.513 |
|
|
e) |
Finance Costs |
104.752 |
95.546 |
305.242 |
|
|
f) |
Depreciation and amortization expense |
16.892 |
15.983 |
49.049 |
|
|
g) |
Other expenses |
129.121 |
43.678 |
341.430 |
|
|
Total Expenses |
2101.903 |
1837.374 |
6625.994 |
|
|
|
|
|
|
|
|
|
7 |
Profit /(Loss) from
before exceptional items and tax |
75.662 |
21.294 |
150.983 |
|
|
8 |
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
|
9 |
Profit /(Loss) from
ordinary activities before tax |
75.662 |
21.294 |
150.983 |
|
|
10 |
Tax Expense |
|
|
|
|
|
|
Current Tax |
(26.520) |
(5.146) |
(49.400) |
|
|
|
Deferred Tax |
(0.574) |
(1.837) |
(1.063) |
|
|
|
Tax for earlier years |
|
|
|
|
|
11 |
Net Profit /(Loss)
for the period |
48.568 |
14.311 |
100.520 |
|
|
|
Other Comprehensive
Income: |
|
|
|
|
|
|
A. Items that will not be reclassified to profit or loss |
0.246 |
(0.035) |
0.127 |
|
|
|
Income tax relating to items that will be reclassified to profit or loss |
|
|
|
|
|
|
B. Items that will be reclassified to profit or loss |
(0.066) |
(0.054) |
(0.186) |
|
|
|
Income tax relating to items that will be reclassified to profit or loss |
|
|
|
|
|
|
Other Comprehensive Income for the year, net of taxes |
48.747 |
14.222 |
100.461 |
|
|
|
Total Other
Comprehensive Income for the period |
48.747 |
14.222 |
100.461 |
|
|
|
|
|
|
|
|
|
13 |
Reserve excluding revaluation reserves |
|
|
|
|
|
14 |
|
Earnings per share (before/after extraordinary items) of Rs.10/- each |
|
|
|
|
|
|
Basic & Diluted |
0.16 |
0.05 |
0.34 |
SEGMENT-WISE REVENUE,
RESULTS ASSETS AND LIABILITIES
|
Particulars |
Quarter ended |
Quarter ended |
Nine months ended |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
Segment Revenue |
|
|
|
|
Manufacturing |
858.672 |
476.461 |
2275.671 |
|
Windmill |
0.321 |
3.911 |
8.126 |
|
Trading |
1313.622 |
1371.334 |
4476.261 |
|
Total |
2172.615 |
1851.705 |
6760.057 |
|
Segment Results |
|
|
|
|
Manufacturing |
153.388 |
107.459 |
413.958 |
|
Windmill |
(0.868) |
2.782 |
4.653 |
|
Trading |
25.823 |
3.020 |
30.023 |
|
Sub Total |
178.343 |
113.261 |
448.634 |
|
Less: i) Financial Expenses |
(104.752) |
(95.546) |
(305.242) |
|
Add: II) Other-Un-allocable Income (net of expenses ) |
2.072 |
3.578 |
7.592 |
|
|
|
|
|
|
Total Profit /
(Loss) before Tax / Exceptional Items |
75.662 |
21.294 |
150.983 |
|
Less: Exceptional Items |
-- |
-- |
-- |
|
Total Profit /
(Loss) before Tax |
75.662 |
21.294 |
150.983 |
|
|
|
|
|
|
Segment assets |
|
|
|
|
Manufacturing |
4120.294 |
3953.356 |
4120.294 |
|
Windmill |
59.872 |
65.316 |
59.872 |
|
Trading |
1685.559 |
1745.315 |
1685.559 |
|
Un-allocated |
436.690 |
428.921 |
436.690 |
|
Total Segment assets |
6302.415 |
6192.908 |
6302.415 |
|
Segment Liabilities |
|
|
|
|
Manufacturing |
1136.456 |
1018.819 |
1136.456 |
|
Windmill |
-- |
-- |
-- |
|
Trading |
1271.809 |
1455.654 |
1271.809 |
|
Un-allocated |
2434.322 |
2307.353 |
2434.322 |
|
Total Segment Liabilities |
4842.587 |
4781.826 |
4842.587 |
Note:
1. The above results were reviewed by the Audit Committee and approved at the meeting of the Board of Directors held on 5th February. 2018.
2. The Company has adopted Indian Accounting Standards ("IND AS") from
01.04.2017 and accordingly these financial results together with the results of
comparative previous period have been prepared in accordance with the
recognition and measurement principles laid down in Ind AS 34 on Interim
Financial Reporting prescribed under Section 133 of the Companies Act, 2013
read with the relevant rules made thererunder.
3. The format of the above results as prescribed in SEBI's Circular
CIR/CFD/CMD/15/2015 dated 30th November, 2015 has been modified to comply with
requirements of SEBI's Circular dated 5th July, 2016, Ind AS and Schedule III
(Division-ll) to the Companies Act, 2013 applicable to the Companies that are
required to comply with Ind AS. Pursuant to this Circular, the above results do
not include Ind AS compliant results for previous year ended 31st March, 2017
as the same are not mandatory.
4. Reconciliation of Net Profit as previously reported on account of transition
from the previous Indian GAAP to IND AS for the Quarter and Nine Month ended
31.12.2016 as under
5. Previous period/year figures have been regrouped/recasted wherever
necessary, to make them comparable with current period/year figures.
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
a. Income Tax / Sales tax / Excise Duty demand disputed in appeal (Amount deposited INR 7.755 Million Previous year INR 7.755 Million |
117.480 |
117.234 |
|
b. Corporate Guarantee given on behalf of others |
100.000 |
100.000 |
FIXED ASSETS
- Land - Free hold
- Land - Lease hold
- Building
- Plant and Machinery
- Windmill
- Furniture and Fixtures
- Office Equipments
- Vehicle
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 64.92 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 79.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
YES |
|
--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.