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MIRA INFORM REPORT
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Report No. : |
503182 |
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Report Date : |
12.04.2018 |
IDENTIFICATION DETAILS
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Name : |
INTERVALVE POONAWALLA LIMITED (w.e.f.
25.06.2015) |
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Formerly Known
As : |
INTERVALVE (INDIA) LIMITED |
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Registered
Office : |
212/2, Off Soli Poonawalla Road, Hadpsar, Pune – 411028, Maharashtra |
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Tel. No.: |
91-20-26993900/ 26993904 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.10.1987 |
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Com. Reg. No.: |
11-044960 |
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Capital
Investment / Paid-up Capital : |
INR 88.244 Million |
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CIN No.: [Company Identification
No.] |
U29120PN1987PLC044960 |
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IEC No.: [Import-Export Code No.] |
0389012076 |
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TIN No.: |
27580388696 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACI3917P1Z7 |
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PAN No.: [Permanent Account No.] |
AAACI3917P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
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The Subject is engaged in the business of manufacturing of industrial valves like Butterfly Valve, Ball Valve, Gate Valve, Globe Valve, Check Valve etc. and spares and parts thereof. (Registered activity) |
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No. of Employees
: |
Information declined by the management
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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 : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1987. The company is a
manufacturer of industrial valves such as butterfly valve, ball valve, gate
valve, globe valve, check valve, etc. and their spare parts. Tata Chemicals Limited, Reliance Industries Limited, Larsen and Turbo,
Finolex India Limited, Gujarat State Fertilizers and Chemicals Limited,
Bharat Heavy Electricals Limited, etc. are some of the clients of the
subject. As per the financial of 2017, the company has gained an average net
profit margin of 1.02% but has reported a decline in its revenue as compared
to the previous year’s revenue. The healthy financial position of the company is reflected by above
average net worth base along with strong debt coverage indicators due to low
debt balance sheet profile and acceptable liquidity position. Rating take into consideration the company’s long established track
record. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual 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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low
Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High
Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
Not Available |
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 12.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-20-26993900
/ 904
LOCATIONS
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Registered/ Head Office : |
212/2, Off Soli Poonawalla Road, Hadpsar, Pune – 411028, Maharashtra,
India |
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Tel. No.: |
91-20-26993900/ 26993904 |
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Fax No.: |
91-20-26993921 |
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E-Mail : |
intervalve@poonawallagroup.com |
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Website : |
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Factory : |
94/1, Manjri Off. Soli Poonawalla Road, Pune – 412307, Maharashtra,
India |
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Tel. No.: |
91-20-2699 3900, 2699 3904 |
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Fax No.: |
91-20-2699 3921 |
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Branch Office 1: |
No. 6, 3rd Main Road, N.R. Colony, Bangalore- 560 019, Karnataka, India |
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Tel. No.: |
91-80-26610509 |
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Fax No.: |
91-80-26611313 |
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E-Mail : |
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Branch Office 2: |
17-A, 2nd Floor, Nutan Bharat Society, Near Nutan Bharat Club, Alkapuri, Baroda- 390 007, Gujarat, India |
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Tel. No.: |
91-265-2324341 / 2324337 |
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Fax No.: |
91-265-2324271 |
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E-Mail : |
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Branch Office 3: |
First Floor, New No.39 / Old No. 21, Nachiappan Street, Mahalingapuram, Chennai- 600 034, Tamilnadu, India |
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Tel. No.: |
91-44-28170323 |
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Fax No.: |
91-44-28170324 |
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E-Mail : |
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Branch Office 5: |
NO: 5/522B, Neriyakkal House, Pukkattupadi Road, Unichira, Thrikkakara PO., Cochin - 682 021 |
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Tel. No.: |
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Branch Office 6: |
H. No. 6-2-1/15, Flat No. 303, H.G.H. Residency, Beside Seha Hospital Lane, Lakdi-ka-Pool, Hyderabad- 500 004, Telangana, India |
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Tel. No.: |
91-40-23221375 / 23221400 |
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Fax No.: |
91-40-23309982 |
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E-Mail : |
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Branch Office 7: |
3rd Floor, 21/A, Kavi Bharati Sarani (formerly Lake Road), Lake Market, Opposite to Charu Chandra College, Kolkata - 700 029, West Bengal, India |
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Tel. No.: |
91-33-24199281 / 24199282 |
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Fax No.: |
91-33-24199283 |
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E-Mail : |
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Branch Office 8: |
1010 Filix, 10th Floor, Opposite Asian Paints, L B S Marg, Bhandup (West), Mumbai - 400 078, Maharashtra, India |
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Tel. No.: |
22-25953965 / 66 |
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E-Mail : |
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Branch Office 9: |
601, Siddhartha Building, 96 Nehru Place, New Delhi- 110 019, India |
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Tel. No.: |
91-011-46514500-5 & 6 |
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Fax No.: |
91-11-46514526 |
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E-Mail : |
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Branch Office 10: |
94/1, Manjari, Off Soli Poonawalla Road, Pune - 412 307, Maharashtra, India |
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Tel. No.: |
91-20-26993900 |
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Fax No.: |
91-20-26993921 |
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E-Mail : |
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Branch Office 11: |
Door No. 39-20-40/1/3, First Floor, Madhavadhara |
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Tel. No.: |
91-891-2501455 |
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Fax No.: |
91-891-2500799 |
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E-Mail : |
DIRECTORS
As on 31.03.2017
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Name : |
Mr. Zavareh Soli Poonawalla |
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Designation : |
Director |
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Address : |
12, Gidney Park Salisbury Park, Pune – 411037, Maharashtra, India |
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Date of Birth/Age : |
04.12.1943 |
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Qualification : |
B.Com |
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Date of Appointment : |
23.09.2011 |
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PAN No.: |
AAJPP5268N |
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DIN No.: |
00044760 |
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Other Directorship:
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Name : |
Mr. Deepak Popatlal Shah |
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Designation : |
Director |
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Address : |
C - 101 Panchratna Apts. Soc. Poonawalla Road Bhairoba Nalla, Pune – 411013, Maharashtra, India |
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Date of Birth/Age : |
06.05.1976 |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
00054104 |
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Other Directorship:
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Name : |
Mr. Donald Ashok Patrick |
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Designation : |
Director |
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Address : |
54 Marian Town S. No. 121/1 Adjacent To St. Patrick Town, Gate No.4, Pune - 411013, Maharashtra, India |
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Date of Birth/Age : |
22.08.1943 |
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Date of Appointment : |
09.02.2004 |
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DIN No.: |
00212719 |
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Other Directorship:
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Name : |
Mr. Yohan Zavareh Poonawalla |
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Designation : |
Managing Director |
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Address : |
Poonawalla House 87 Koregaon Park, Lane No. 4, Pune - 411001, Maharashtra, India |
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Date of Birth/Age : |
15.01.1972 |
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Qualification : |
MBA |
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Date of Appointment : |
13.04.2016 |
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PAN No.: |
ABEPP3834A |
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DIN No.: |
00503409 |
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Other Directorship:
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Name : |
Mr. Michelle Yohan Poonawalla |
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Designation : |
Director |
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Address : |
Poonawalla House 87 Koregaon Park, Lane No. 4, Pune- 411001, Maharashtra, India |
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Date of Birth/Age : |
23.08.1977 |
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Qualification : |
MBA |
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Date of Appointment : |
23.09.2011 |
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DIN No.: |
00503625 |
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Other Directorship:
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Name : |
Mr. Aijaz Zakir Hussain |
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Designation : |
Director |
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Address : |
Flat No. 10, Venus Residency 169 Lulla Nagar, Pune – 411040, Maharashtra, India |
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Date of Appointment : |
30.09.2015 |
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DIN No.: |
06988929 |
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Name : |
Mr. Rakesh Jagdish Shah |
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Designation : |
Director |
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Address : |
Plot No. 41, 159/A 8-9, Bhosale Nagar, Hadapsar, Pune-411028, Maharashtra, India |
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Date of Appointment : |
29.09.2017 |
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DIN No.: |
07622293 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Deepak Madhav Manerikar |
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Designation : |
Company Secretary |
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Address : |
Flat No. 5 Nav Vrindavan Co-Operative Housing Society Bhav Patil Road Bopodi, Pune – 411020, Maharashtra, India |
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Date of Appointment : |
25.08.2008 |
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PAN No.: |
AHZPM2502R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
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Names of Equity Shareholders |
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No. of Shares |
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Zavareh Soli Poonawalla |
|
66649 |
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Firduas Jal Dastoor |
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01 |
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Yohan Zavareh Poonawalla |
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84997 |
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Michelle Yohan Poonawalla |
|
01 |
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Zayan Yohan Poonawalla |
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01 |
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Yohan Poonawalla Financials Private Limited |
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01 |
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Eureka Finvest Private Limited |
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750 |
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Total |
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152400 |
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Names of Preference Shareholders |
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No. of Shares |
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Zavareh Soli Poonawalla |
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365020 |
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Yohan Zavareh Poonawalla |
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365020 |
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Total |
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730040 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
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Category |
Percentage |
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Promoter – (Individual/ Hindu Undivided
Family – Indian) |
99.51 |
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Public - Bodies corporate |
0.49 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Subject is engaged in the business of manufacturing of industrial valves like Butterfly Valve, Ball Valve, Gate Valve, Globe Valve, Check Valve etc. and spares and parts thereof. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : (From indirect source) |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Patki and Soman Chartered Accountants |
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Address : |
101-102, Parmesh Plaza, 1213 Sadashiv Peth, Near, Hatti Ganpati, Pune –
411030, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFP3742Q |
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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 : |
U65993PN1985PTC037194
U67110PN1993PTC070986
U29299PN1989PTC054181
U65929PN1989PTC051960
U65999PN1987PTC044058
U01200PN2014PTC151221
U29299PN2005PTC021249
U67110PN1996PTC097401
U01214PN1945PTC004667
U65993PN1988PTC049504
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
INR 100/- each |
INR 20.000 Million |
|
750000 |
Preference Shares |
INR 100/- each |
INR 75.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 95.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
152400 |
Equity Shares |
INR 100/- each |
INR 15.240
Million |
|
730040 |
Preference Shares |
INR 100/- each |
INR 73.004
Million |
|
|
|
|
|
|
|
Total |
|
INR 88.244
Million |
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 |
88.244 |
88.244 |
88.244 |
|
(b) Reserves and Surplus |
279.351 |
269.178 |
262.753 |
|
(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) |
367.595 |
357.422 |
350.997 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
44.239 |
34.912 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
29.973 |
29.886 |
30.549 |
|
(c) Other long-term
liabilities |
3.605 |
2.632 |
4.484 |
|
(d) long-term
provisions |
25.428 |
23.157 |
22.968 |
|
Total Non-current
Liabilities (3) |
103.245 |
90.587 |
58.001 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
446.545 |
350.633 |
173.702 |
|
(b) Trade
payables |
386.915 |
380.657 |
301.948 |
|
(c) Other current
liabilities |
54.743 |
53.313 |
36.128 |
|
(d) Short-term
provisions |
89.719 |
86.993 |
74.453 |
|
Total Current
Liabilities (4) |
977.922 |
871.596 |
586.231 |
|
|
|
|
|
|
TOTAL |
1448.762 |
1319.605 |
995.229 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
295.616 |
255.137 |
231.464 |
|
(ii)
Intangible Assets |
0.663 |
0.801 |
0.134 |
|
(iii) Tangible assets
capital work-in-progress |
60.544 |
3.227 |
0.752 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.962 |
6.962 |
6.261 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
21.765 |
23.429 |
20.094 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
385.550 |
289.556 |
258.705 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
99.410 |
235.657 |
56.743 |
|
(b)
Inventories |
315.068 |
287.635 |
259.381 |
|
(c) Trade
receivables |
374.768 |
373.522 |
313.336 |
|
(d) Cash and
bank balances |
2.981 |
23.623 |
8.583 |
|
(e)
Short-term loans and advances |
234.382 |
81.574 |
77.751 |
|
(f) Other
current assets |
36.603 |
28.038 |
20.730 |
|
Total
Current Assets |
1063.212 |
1030.049 |
736.524 |
|
|
|
|
|
|
TOTAL |
1448.762 |
1319.605 |
995.229 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
998.533 |
999.583 |
782.049 |
|
|
Other Income |
25.109 |
4.438 |
13.441 |
|
|
TOTAL |
1023.642 |
1004.021 |
795.490 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
675.752 |
662.262 |
507.543 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(30.156) |
(57.929) |
(42.880) |
|
|
Employee benefit expense |
168.642 |
159.944 |
143.786 |
|
|
Other expenses |
150.726 |
181.319 |
135.464 |
|
|
TOTAL |
964.964 |
945.596 |
743.913 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
58.678 |
58.425 |
51.577 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.586 |
9.566 |
5.841 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
42.092 |
48.859 |
45.736 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
32.876 |
33.097 |
33.310 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
9.216 |
15.762 |
12.426 |
|
|
|
|
|
|
|
Less |
TAX |
(0.957) |
9.337 |
5.697 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
10.173 |
6.425 |
6.729 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
122.046 |
123.431 |
116.631 |
|
|
TOTAL EARNINGS |
122.046 |
123.431 |
116.631 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
67.00 |
42.00 |
44.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
11.357 |
7.961 |
0.000 |
|
Net cash flows from (used in) operations |
(134.885) |
66.327 |
27.621 |
|
Net cash flows from (used in) operating activities |
(140.076) |
60.513 |
20.339 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
136.99 |
136.39 |
146.24 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.66 |
2.68 |
2.50 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
208.99 |
209.80 |
217.15 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.19 |
0.20 |
0.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.16 |
0.23 |
0.22 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.71 |
0.69 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.37 |
1.10 |
0.49 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.66 |
2.44 |
1.67 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.97 |
0.73 |
0.66 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.54 |
6.11 |
8.83 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.02 |
0.64 |
0.86 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.70 |
0.49 |
0.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
2.77 |
1.80 |
1.92 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.09 |
1.18 |
1.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.77 |
0.85 |
0.81 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.25 |
0.27 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.69 |
4.46 |
1.97 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.09 |
1.18 |
1.26 |
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 |
88.244 |
88.244 |
88.244 |
|
Reserves & Surplus |
262.753 |
269.178 |
279.351 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
350.997 |
357.422 |
367.595 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
34.912 |
44.239 |
|
Short Term borrowings |
173.702 |
350.633 |
446.545 |
|
Current Maturities of Long term debt |
0.000 |
7.961 |
11.357 |
|
Total
borrowings |
173.702 |
393.506 |
502.141 |
|
Debt/Equity
ratio |
0.495 |
1.101 |
1.366 |
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
|
782.049 |
999.583 |
998.533 |
|
|
|
27.816 |
(0.105) |
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
|
782.049 |
999.583 |
998.533 |
|
Profit |
6.729 |
6.425 |
10.173 |
|
|
0.86% |
0.64% |
1.02% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION:-
Subject, is a public company domiciled in India and incorporated under the provision of Companies Act 1956.
The company is engaged in the manufacturing of Industrial Valves like Butterfly Valve, Ball Valve, Gate Valve, Globe Valve, Check Valve etc. The company caters to both domestic and international markets. The Directors of the Company are Mr. Yohan Poonawalla, Mr. Zavareh Poonawalla, Mrs. Michelle Poonawalla, Mr. Don Patrick, Mr. Deepak Shah, Mr. Aijaz Hussain and Mr. Rakesh Shah
STATE OF COMPANY’S AFFAIRS
The Company is engaged in the business of manufacturing of industrial valves like Butterfly Valve, Ball Valve, Gate Valve, Globe Valve, Check Valve etc. and spares and parts thereof.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
148.724 |
80.066 |
|
Loans and advances from directors |
257.479 |
257.479 |
|
Total |
406.203 |
337.545 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G32659344 |
100036405 |
Axis Bank Limited |
08/06/2016 |
04/11/2016 |
- |
50000000.0 |
Corporate Banking Branch, 214-215, City Mall,Near Pune University, Ganeshkhind RoadPuneMH411007IN |
|
2 |
C64845829 |
10592310 |
ICICI BANK LIMITED |
31/08/2015 |
- |
- |
39600000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
3 |
C57945875 |
10577944 |
Daimler Financial Services India Private Limited |
11/06/2015 |
- |
- |
7226162.0 |
Unit 202, 2nd Floor, Campus 3B,RMZ MillenniaBusiness Park, No.143, Dr. M.G.R.Road,PerungudiChennaiTN600096IN |
|
4 |
G50888155 |
10113920 |
HDFC BANK LIMITED |
22/07/2008 |
29/07/2017 |
- |
200000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
A19373802 |
10060720 |
HDFC BANK LIMITED |
09/06/2007 |
- |
- |
40000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
6 |
Y10168638 |
90083617 |
BANK OF BARODA |
04/08/1989 |
- |
- |
1000000.0 |
PUNE CHAMP. BRANCH2 MOLEDINA ROADPUNEMH411001IN |
|
7 |
Y10174507 |
90089486 |
BANK OF BARODA |
04/08/1989 |
- |
- |
2100000.0 |
PUNE CAMP BRANCH2 MOLEDINA ROADPUNEMH411001IN |
|
8 |
Y10168637 |
90083616 |
BANK OF INDIA |
24/07/1989 |
24/07/1989 |
- |
3500000.0 |
PUNE INDUSTRIAL FINANCE BRANCH6/7 SHIVAJINAGAR; UNIVERCITY ROADPUNEMH411005IN |
|
9 |
Y10174503 |
90089482 |
BANK OF BARODA |
29/06/1989 |
30/01/1993 |
- |
2900000.0 |
PUNECHAMP BRANCH2 MOLEDINA ROADPUNEMH411001IN |
|
10 |
Y10168424 |
90083403 |
BANK OF BARODA |
04/08/1985 |
28/11/1991 |
- |
1460000.0 |
PUNE CHAMP BRANCH2 MOLEDINA ROADPOONAMH411001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
84.028 |
107.489 |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipments
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.12 |
|
|
1 |
INR 92.51 |
|
Euro |
1 |
INR 80.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
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 |
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.