|
|
|
MIRA INFORM REPORT
|
Report No. : |
503796 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
KUMAR ORGANIC PRODUCTS LIMITED (w.e.f. 17.06.2001) |
|
|
|
|
Formerly Known
As : |
KUMAR ORGANIC PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Usha Krishna Towers, Plot No. 36-B, Road No. 3 and 5, Jigani
Industrial Area, Anekal Taluka, Bangalore - 562106, Karnataka |
|
Tel. No.: |
91-80-27825376 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
01.07.1991 |
|
|
|
|
Com. Reg. No.: |
08-012095 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 278.140 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1991PLC012095 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0793003091 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
29AAACK6745P1ZT |
|
|
|
|
TIN No: |
29050064053 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK6745P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing of chemicals that are mainly used in personal care products. The Company's product concentration caters to skin care, hair care and oral care products. The Company also deals in chemicals which are used in paint and other industrial products. [Registered activity and also confirmed by management] |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 3853800 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1991. The company’s concentration caters to skin care, hair care and oral care. The Company also deals in chemicals. For the financial year 2017, the company achieved revenue growth of
2.07% as compared to the previous year along with an average profit margin of
5.82% as compared to the previous year. The sound financial risk profile of the company is marked by adequate
net worth base along with low debt balance sheet profile. Rating takes into account the subject’s long established track record
of business operations along with extensive experienced of its promoters. These rating strengths are partially offset by susceptibility to
intense competition, vulnerability to economic downturns in end –user
industries and product concentration in revenue profile. Payment seems to be regular. 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 Borrowing =A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
14.12.2016 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Borrowing =A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
14.12.2016 |
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 13.04.2018
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
|
Name : |
Mr. Venkateswar Upputuni |
|
Designation : |
Manager |
|
Contact No.: |
91-9686696596 |
|
Date : |
12.04.2018 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Usha Krishna Towers, Plot No. 36-B, Road No. 3 and 5, Jigani
Industrial Area, Anekal Taluka, Bangalore - 562106, Karnataka, India |
|
Tel. No.: |
91-80-27825376/7826018 / 27825196 |
|
Mobile No.: |
91-9686696596 (Mr. Venkateswar) |
|
Fax No.: |
91-80-27825439 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Corporate Office : |
Usha Krishan Center, 819/C, 13th Cross, 7th
Block West, Near JSS College Circle, Jayanagar, Bangalore – 560041,
Karnataka, India |
|
Tel. No.: |
91-80-41425832/ 41525960 |
|
Fax No.: |
91-80-26715688 |
|
|
|
|
Factory 2 : |
100 Percent Export Oriented, Unit Plot No 60/61/62/63, Road No 3 And
5, Jigani Industrial Area, Anekal Taluka, Bangalore - 562105,
Karnataka, India |
|
|
|
|
Overseas Office: |
Located at: · United Kingdom · Switzerland · United States of America · Singapore |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Unayan Kumar Singh |
||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||
|
Address : |
128, Mourya, 42nd
Cross, 7th Main, 5th Block, Jajanagar, Bangalore –
560082, Karnataka, India |
||||||||||||||||||
|
Date of Birth/Age : |
16.01.1971 |
||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||
|
Date of Appointment : |
01.01.2014 |
||||||||||||||||||
|
PAN No.: |
ABOPS9751P |
||||||||||||||||||
|
DIN No.: |
00838904 |
||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Udayan Kumar Singh |
||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||
|
Address : |
128, Mourya, 42nd Cross, 7th Main, 5th Block, Jajyanagar, Bangalore – 560082, Karnataka, India |
||||||||||||||||||
|
Date of Birth/Age : |
22.03.1966 |
||||||||||||||||||
|
Qualification : |
BE |
||||||||||||||||||
|
Date of Appointment : |
30.05.2001 |
||||||||||||||||||
|
PAN No.: |
ABOPS9750N |
||||||||||||||||||
|
DIN No.: |
00838825 |
||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Raj Gopal Katju |
||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||
|
Address : |
B-21 Industrial Society, New Sama Road, Chani, Jakat Naka, Vadodara – 390002, Gujarat, India |
||||||||||||||||||
|
Date of Birth/Age : |
19.03.1940 |
||||||||||||||||||
|
Qualification : |
B. Tech |
||||||||||||||||||
|
PAN No.: |
AESPK7649K |
||||||||||||||||||
|
Date of Appointment : |
14.11.2008 |
||||||||||||||||||
|
DIN No.: |
02739714 |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Sachidanad Singh |
||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||
|
Address : |
125, 9th Main Sector – 1, Nova Nagar, Bangalore - 560076, Karnataka, India |
||||||||||||||||||
|
Date of Birth/Age : |
06.01.1959 |
||||||||||||||||||
|
Qualification : |
BE |
||||||||||||||||||
|
Date of Appointment : |
06.09.2004 |
||||||||||||||||||
|
PAN No.: |
EECPS0291P |
||||||||||||||||||
|
DIN No.: |
00232922 |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Krishan Kumar Singh |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
128, Mourya, 42nd Cross, 7th Main, 5th Block, Jajyanagar, Bangalore – 560082, Karnataka, India |
||||||||||||||||||
|
Date of Birth/Age : |
23.09.1941 |
||||||||||||||||||
|
Qualification : |
M. Sc |
||||||||||||||||||
|
Date of Appointment : |
06.09.2004 |
||||||||||||||||||
|
PAN No.: |
AKMPS8266J |
||||||||||||||||||
|
DIN No.: |
00892698 |
||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Bhawani Shankar Sahay |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
139, Usha Krishna Apartment, Billekahalli, Sarvom Nagar, Bangalore-560076, Karnataka, India |
||||||||||||||||||
|
Date of Birth/Age : |
01.01.1942 |
||||||||||||||||||
|
Qualification : |
CA |
||||||||||||||||||
|
Date of Appointment : |
30.09.2003 |
||||||||||||||||||
|
PAN No.: |
AIRPS4361H |
||||||||||||||||||
|
DIN No.: |
00232309 |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Ramakrishnan Bharathan |
||||||||||||||||||
|
Designation : |
Director and Chief Executive Officer (KMP) |
||||||||||||||||||
|
Address : |
Flat No. A 14, Cedar Sherwood Apartment, Basavanagar Main Road, Bangalore -560037, Karnataka, India |
||||||||||||||||||
|
Date of Birth/Age : |
18.01.1957 |
||||||||||||||||||
|
Qualification : |
BE and MBA |
||||||||||||||||||
|
Date of Appointment : |
30.09.2017 |
||||||||||||||||||
|
PAN No.: |
AAOPR8105R |
||||||||||||||||||
|
DIN No.: |
03110029 |
||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Uma Nandan Misra |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
417/4, 4th A Cross, Sector - 'A' Yelahanka Newtown, Bangalore-560106, Karnataka, India |
||||||||||||||||||
|
Date of Birth/Age : |
18.03.1951 |
||||||||||||||||||
|
Qualification : |
MBA |
||||||||||||||||||
|
Date of Appointment : |
23.12.2014 |
||||||||||||||||||
|
PAN No.: |
AARPM8530G |
||||||||||||||||||
|
DIN No.: |
07012120 |
||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ananda Sharath Chandra Prasad |
|
Designation : |
Chief Finance Officer (KMP) |
|
Address : |
No.128 A, 4th Main, 58th Cross, 4th Block, Rajajinagar, Bangalore-560010, Karnataka, India |
|
Date of Birth/Age : |
02.11.1985 |
|
Qualification : |
CA |
|
Date of Appointment : |
08.10.2015 |
|
PAN No.: |
AAPPP7884E |
|
|
|
|
Name : |
Vivek Hegde and Company |
|
Designation : |
Company Secretary |
|
Address : |
No.86, 1st Floor, 2nd Main, Samvruddhi Enclave, Kumaraswamy Layout 2nd Stage, Bangalore – 5600061, Karnataka, India |
|
Mob. No: |
91-9900898223 |
|
Tel. No: |
91-80-26663577 |
|
Email: |
|
|
|
|
|
Name : |
Mr. Rupesh Vatanapally Haridas |
|
Designation : |
Company Secretary |
|
Address : |
No.221, 1st Main, 2nd Cross, Jyothi Nagar, HAL Mai Bangalore, India Bangalore-560017, Karnataka, India |
|
Date of Birth/Age : |
14.03.1988 |
|
Date of Appointment : |
05.05.2017 |
|
Qualification : |
CS |
|
PAN No.: |
AXQPR3474A |
|
|
|
|
Name : |
Mr. Venkateswar Upputuni |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Krishna Kumar Singh |
|
2711967 |
|
Udayan Kumar Singh |
|
5550690 |
|
Usha Singh |
|
3262290 |
|
S D N Singh and Sons, Bihar |
|
24807 |
|
Unayan Kumar Singh |
|
5314011 |
|
Shubra Singh |
|
3654813 |
|
K K Singh and Sons |
|
212577 |
|
Swetlana Singh |
|
3663693 |
|
Shourya Singh |
|
1082427 |
|
Shreyansh Singh |
|
1055814 |
|
Shashank Singh |
|
780012 |
|
Sri Balaji Temple |
|
180 |
|
Son Pari |
|
501120 |
|
Total |
|
27814401 |
AS ON 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Promoters
– Individual/Hindu Undivided Family (Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of chemicals that are mainly used in personal care products. The Company's product concentration caters to skin care, hair care and oral care products. The Company also deals in chemicals which are used in paint and other industrial products. [Registered activity and also confirmed by management] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, NEFT and RTGS |
||||
|
|
|
||||
|
Purchasing : |
L/C, NEFT and RTGS |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers and End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
1000 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· Canara Bank, Industrial Finance Branch, Richmond Road, Bangalore-560025, Karnataka, India · Axis Bank Limited, Corporate Banking Branch, Queens Road, Bangalorek-60001, Karnataka, India · Corporation Bank, I Floor, Indian Express Building, No. 1 Queen Road, Bangalore-560001, Karnataka, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institutions: |
|
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company LLP Chartered Accountants |
|
Address : |
Flat No A, 601 Tower 2, Adarsh Palm Retreat, Outer Ring Road, Devarabisanahalli Near Intel, Bangalore - 560103, Karnataka, India |
|
Tel. No: |
91-80-42430700 |
|
Mob. No: |
91-80-41251228 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFW4298E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate : |
Inquirly Technologies Private Limited, India [U72200KA2013PTC071398] |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· KOP Research Centre Private limited, India [U18101KA1997PTC022921] · BWS Park Private Limited, India [U92419KA1983PTC005765] · Kumar Katha Industries Private Limited, India [U01114BR1980PTC001439 · K.K. Singh and Sons · S.D.N. Singh and Sons · Kumar Fuel Station · Shreyansh Luxury Stores Private Limited, India [U52312KA2006PTC040848] |
|
|
|
|
Subsidiary Company : |
· Kumar Organic products Europe AG, Switzerland · Kumar Organic Products (Singapore) Pte, Singapore ·
Kumar Organic Products Limited, United States
of America |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27814401 |
Equity Shares |
INR 10/- each |
INR 278.140 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 |
278.140 |
278.140 |
278.000 |
|
(b) Reserves and Surplus |
1070.690 |
977.210 |
925.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1348.830 |
1255.350 |
1203.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6.520 |
8.070 |
45.000 |
|
(b) Deferred tax liabilities (Net) |
2.430 |
13.490 |
16.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
8.950 |
21.560 |
61.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
47.040 |
67.630 |
35.000 |
|
(b) Trade
payables |
347.820 |
300.940 |
200.000 |
|
(c) Other
current liabilities |
95.280 |
136.200 |
125.000 |
|
(d) Short-term
provisions |
41.440 |
60.430 |
7.000 |
|
Total Current
Liabilities (4) |
531.580 |
565.200 |
367.000 |
|
|
|
|
|
|
TOTAL |
1889.360 |
1842.110 |
1631.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
617.990 |
558.610 |
527.000 |
|
(ii)
Intangible Assets |
0.000 |
0.140 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
14.330 |
42.370 |
37.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11.690 |
24.690 |
24.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
129.850 |
103.690 |
81.000 |
|
(e) Other
Non-current assets |
105.570 |
70.260 |
63.000 |
|
Total Non-Current
Assets |
879.430 |
799.760 |
732.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
242.940 |
184.760 |
194.000 |
|
(c) Trade
receivables |
518.280 |
581.090 |
541.000 |
|
(d) Cash and
bank balances |
149.310 |
193.160 |
106.000 |
|
(e)
Short-term loans and advances |
99.400 |
80.840 |
56.000 |
|
(f) Other
current assets |
0.000 |
2.500 |
2.000 |
|
Total
Current Assets |
1009.930 |
1042.350 |
899.000 |
|
|
|
|
|
|
TOTAL |
1889.360 |
1842.110 |
1631.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2182.250 |
2137.910 |
2081.000 |
|
|
Other Income |
23.460 |
59.700 |
26.000 |
|
|
TOTAL |
2205.710 |
2197.610 |
2107.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1167.290 |
1092.720 |
1041.000 |
|
|
Purchases of
Stock-in-Trade |
61.800 |
82.040 |
23.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(52.110) |
(3.250) |
13.000 |
|
|
Employee benefit expense |
185.550 |
169.810 |
214.000 |
|
|
CSR expenditure |
3.690 |
0.350 |
1.000 |
|
|
Other expenses |
592.650 |
474.560 |
431.000 |
|
|
Prior period items |
0.000 |
12.540 |
18.000 |
|
|
TOTAL |
1958.870 |
1828.770 |
1741.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
246.840 |
368.840 |
366.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
15.290 |
21.330 |
20.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
231.550 |
347.510 |
346.000 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
50.040 |
65.270 |
130.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
181.510 |
282.240 |
216.000 |
|
|
|
|
|
|
|
Less |
TAX |
54.560 |
146.650 |
66.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
126.950 |
135.590 |
150.000 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1344.780 |
1165.670 |
0.000 |
|
|
TOTAL EARNINGS |
1344.780 |
1165.670 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.56 |
4.87 |
5.41 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
2.300 |
16.500 |
15.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
303.940 |
414.840 |
296.000 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
185.690 |
318.340 |
183.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.82 |
6.34 |
7.21 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.31 |
17.25 |
17.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.61 |
15.32 |
13.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.22 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04 |
0.07 |
0.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90 |
1.84 |
2.45 |
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
86.69 |
99.21 |
94.89 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
4.21 |
3.68 |
3.85 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors / Purchases
* 365] |
|
103.29 |
93.50 |
68.61 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
1.02 |
2.00 |
1.89 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.39 |
0.61 |
0.65 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.29 |
0.32 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.04 |
0.07 |
0.08 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.39 |
0.45 |
0.31 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.47 |
0.48 |
0.47 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
16.14 |
17.29 |
18.30 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
5.82 |
6.34 |
7.21 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
6.72 |
7.36 |
9.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
9.41 |
10.80 |
12.47 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.90 |
1.84 |
2.45 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.44 |
1.52 |
1.92 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.71 |
0.68 |
0.74 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.20 |
0.33 |
0.34 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
1.90 |
1.84 |
2.45 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
278.000 |
278.140 |
278.140 |
|
Reserves & Surplus |
925.000 |
977.210 |
1070.690 |
|
Net
worth |
1203.000 |
1255.350 |
1348.830 |
|
|
|
|
|
|
Long-term borrowings |
45.000 |
8.070 |
6.520 |
|
Short term borrowings |
35.000 |
67.630 |
47.040 |
|
Current maturities of
long-term debts |
15.000 |
16.500 |
2.300 |
|
Total
borrowings |
95.000 |
92.200 |
55.860 |
|
Debt/Equity
ratio |
0.079 |
0.073 |
0.041 |
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 |
2081.000 |
2137.910 |
2182.250 |
|
|
|
2.735 |
2.074 |
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 |
2081.000 |
2137.910 |
2182.250 |
|
Profit/ (Loss) |
150.000 |
135.590 |
126.950 |
|
|
7.21
% |
6.34
% |
5.82
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
278.140 |
278.140 |
|
(b) Reserves and Surplus |
1090.420 |
952.010 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
|
(d) Minority interest |
2.660 |
2.000 |
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
1368.560 |
1230.150 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
6.520 |
8.070 |
|
(b) Deferred tax liabilities (Net) |
2.430 |
13.490 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
8.950 |
21.560 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short-term
borrowings |
47.040 |
67.630 |
|
(b) Trade
payables |
352.870 |
306.830 |
|
(c) Other current
liabilities |
99.010 |
143.940 |
|
(d) Short-term
provisions |
45.930 |
59.620 |
|
Total Current
Liabilities (4) |
544.850 |
578.020 |
|
|
|
|
|
TOTAL |
1925.020 |
1831.730 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1)
Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i)
Tangible assets |
618.570 |
559.480 |
|
(ii)
Intangible Assets |
0.000 |
0.140 |
|
(iii) Tangible assets
capital work-in-progress |
14.330 |
42.370 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.020 |
7.770 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
133.460 |
107.250 |
|
(e) Other
Non-current assets |
105.570 |
70.260 |
|
Total Non-Current
Assets |
871.950 |
787.270 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a)
Current investments |
0.000 |
0.000 |
|
(b)
Inventories |
319.150 |
246.230 |
|
(c) Trade
receivables |
395.880 |
466.690 |
|
(d) Cash and
bank balances |
238.080 |
261.050 |
|
(e)
Short-term loans and advances |
99.960 |
67.990 |
|
(f) Other current
assets |
0.000 |
2.500 |
|
Total
Current Assets |
1053.070 |
1044.460 |
|
|
|
|
|
TOTAL |
1925.020 |
1831.730 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Total
Revenue from operations |
2273.190 |
2242.460 |
|
|
Other Income |
29.020 |
43.090 |
|
|
TOTAL |
2302.210 |
2285.550 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
1167.290 |
1092.720 |
|
|
Purchases of
Stock-in-Trade |
77.010 |
94.430 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(66.850) |
9.810 |
|
|
Employee benefit expense |
220.130 |
201.730 |
|
|
CSR expenditure |
3.690 |
0.350 |
|
|
Other expenses |
604.180 |
489.850 |
|
|
Prior period items |
0.000 |
12.540 |
|
|
TOTAL |
2005.450 |
1901.430 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
296.760 |
384.120 |
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
15.890 |
21.820 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
280.870 |
362.300 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
50.330 |
65.270 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
230.540 |
297.030 |
|
|
|
|
|
|
Less |
TAX |
58.000 |
146.030 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
172.540 |
151.000 |
|
|
|
|
|
|
|
MINORITY INTEREST |
(0.660) |
(0.210) |
|
|
|
|
|
|
|
SHARE OF PROFIT
(LOSS) OF ASSOCIATES |
0.000 |
(3.000) |
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
171.880 |
147.790 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.18 |
5.28 |
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 |
THE YEAR IN
RETROSPECT:
During the year, subdued business statements, demonetization of Indian Rupee, combined with difficult market conditions and slow-down in global demand, posted challenges. As a result Company could post only nominal sales growth. In spite of not so favorable conditions, the Company has registered much better performance in terms of growth in profits as compared to previous year.
REVIEW OF OPERATIONS
Having regard to the challenging business conditions, the performance of the company has been satisfactory. The Company has earned a total Profit of INR 126.950 million in the current financial year as against the profit of INR 135.590 million in the previous financial year. The company intends to intensify its marketing thrust to expand its geographical foot print and introduce its unique value proposition to the potential customers. In doing so, the company will be fully leveraging its foreign subsidiaries and their network of offices at strategic locations. Having already established offices at U.K, Singapore, USA and Europe, the underlying objective is to be close to our customers through extended reach of regional offices and ensure market visibility and customer’s confidence for its products and after-market services.
CORPORATE INFORMATION
The Company is a public company domiciled in India
established in 1991. Its head office is in Bengaluru, Karnataka. The Company is
engaged in the business of manufacturing chemicals that are mainly used in
personal care products. The Company's product concentration caters to skin
care, hair care and oral care products. The Company also deals in chemicals
which are used in paint and other industrial products.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B67298000 |
10401156 |
DEPARTMENT OF BIOTECHNOLOGY |
30/01/2013 |
- |
- |
5966000.0 |
6-8TH FLOOR, BLOCK NO.2, CGO COMPLEX, LODHI ROAD, NEW DELHI-110003, INDIA |
|
2 |
A18617530 |
10058851 |
CANARA BANK |
22/05/2007 |
- |
- |
10000000.0 |
INDUSTRIAL FINANCE BRANCH, RICHMOND ROAD, BANGALORE-560025, KARNATAKA, INDIA |
|
3 |
G70627310 |
80044450 |
CANARA BANK |
26/09/2005 |
18/11/2017 |
- |
450000000.0 |
INDUSTRIAL FINANCE BRANCH, RICHMOND ROAD, BANGALORE-560025, KARNATAKA, INDIA |
|
4 |
Y10301374 |
90199475 |
CORPORATION BANK |
26/09/2001 |
03/03/2003 |
- |
45000000.0 |
I FLOOR, INDIAN EXPRESS BUILDING, NO. 1 QUEEN ROAD, BANGALORE-560001, KARNATAKA, INDIA |
|
5 |
Y10299910 |
90198011 |
CORPORATION BANK |
26/09/2001 |
03/03/2003 |
- |
45000000.0 |
I FLOOR, INDIAN EXPRENS BUILDING, NO. 1 QUEEN ROAD, BANGALORE-560001, KARNATAKA, INDIA |
|
6 |
Y10299598 |
90197699 |
ICICI LIMITED (STRUCTURED PRODUCTS FUND) |
23/02/2000 |
19/01/2001 |
- |
30000000.0 |
IV FLOOR, RAHEJA PLAZA, 17; COMMISSARIAT ROAD, BANGALORE-560025, KARNATAKA, INDIA |
|
7 |
G07796535 |
10376939 |
AXIS BANK LIMITED |
29/08/2012 |
30/09/2013 |
18/07/2016 |
250000000.0 |
CORPORATE BANKING BRANCH, QUEENS ROAD, BANGALOREK-60001, KARNATAKA, INDIA |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
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 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 65.35 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.