|
|
|
MIRA INFORM REPORT
|
Report No. : |
492958 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SANIMO POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
102 Anand Estates, 189, Arthur Road, Chinchpokli, Mumbai - 400011,
Maharashtra |
|
Tel. No.: |
91-22-23080588 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
04.08.1986 |
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|
|
|
Com. Reg. No.: |
11-040540 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 2.725 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1986PTC040540 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0302033769 |
|
|
|
|
TIN No.: |
27130288597 [Mumbai] 24223201185 [Gujarat] |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACS6209G1ZH |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACS6209G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer of Embroidery Dyed Yarn and also Consultancy
Services. [Registered
Activity and also Confirmed by Management] |
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|
|
|
No. of Employees
: |
215 [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
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|
Comments : |
Subject was incorporated in the year 1986. It is engaged in manufacturing and processing of Polyester Embroidery Yarns. Mr. Prashant Shukla (Finance Consultant) has provided information about the subject. For the financial year 2017, the revenue of the company has increased by 2.91% but has incurred operational loss. The satisfactory financial profile of the company is marked by comfortable networth base. Furthermore, we have received satisfactory feedback regarding the business transactions from its Supplier (Wellknown Polymers Limted, Reliance Industries Limited, Adarsh Lignite Suppliers and Colourtex Industries Private Limited). Customer (Kartik Threads Private Limited, Raymond Limited (Textile Division), Sujata Snthetics, Reliance Industries and Mix and Match) also gave positive feedback and claimed that they are satisfied with subject’s product quality and delivery. Banker (Bank of Baroda) has also given positive feedback and is satisfied with firm’s banking transaction. However, rating is constrained on account of poor debt coverage indicators due to high debt balance sheet profile. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealings with some caution. Note: Site
Visit was conducted at the factory address “Shreenathji Industrial Estate, Block No.
211 A/B, Moto Barsara, Taluka Mangrol, Kim Surat - 394110, Gujarat, India”
and our executive has successfully traced the subject at the factory address. At the premises, our executive met, Mr. Surendra Jain (General Manager) and he claimed that subject is situated on the factory address. As per our executive’s observation, it is a 2 storey building and entire premises belongs to the subject. Location was easy to find and locality appears to be industrial. Area seems to be upmarket and 70 employees were sighted at the premises. Name board of the subject was not sighted. |
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 cooperating) = B |
|
Rating Explanation |
Risk-prone-credit-quality and carries very high credit risk |
|
Date |
07.06.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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. Prashant Shukla |
|
Designation : |
Finance Consultant |
|
Contact No.: |
91-9821470975 |
|
Date : |
10.04.2018 |
[91-9821091020/ 9375133204] Ringing
LOCATIONS
|
Registered Office : |
102, Anand Estates, 189, Arthur Road, Chinchpokli, Mumbai - 400011,
Maharashtra, India |
|
Tel. No.: |
91-22-23080588 |
|
Mobile No.: |
91-9821470975 [Mr. Prashant Shukla] 91-9821091020 [Mr. Suresh Somchand Shah] 91-9375133204 [Mr. Surendra Jain] |
|
Fax No.: |
91-22-23080500 |
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E-Mail : |
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|
Website : |
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|
Location: |
Rented |
|
Locality: |
Industrial [As per site visit] |
|
|
|
|
Factory 1: |
Shreenathji Industrial Estate, Block No. 49, Plot No. 3/B, Kim Char Rasta, Taluka: Mangrol, Surat - 394110, Gujarat, India |
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|
|
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Factory 2: |
Shreenathji Industrial Estate, Block No. 211/AB, Moto Barsara, Taluka Mangrol, Kim, Surat - 394110, Gujarat, India |
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|
|
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Factory 3: |
Shreenathji Industrial Estate, Block No. 213/AB, Moto Barsara, Taluka Mangrol, Kim, Surat - 394110, Gujarat, India |
|
|
|
|
Surat Office: |
808, 21st Century Business Centre, Udhana Darwaja, Ring Road, Surat 395002, Gujarat, India |
|
Tel. No.: |
91-261-3044300/1/2 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Suresh Somchand Shah |
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|
Designation : |
Director |
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|
Address : |
1402, Lodha Arya, Sriram Tekdi Road, Sindhu Nagar, Mumbai, Maharashtra, India |
||||||||||||||||
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Date of Birth/Age : |
02.12.1954 |
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Qualification : |
Textile Engineer from V.J.T.I 1978 |
||||||||||||||||
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Experience : |
3 Years |
||||||||||||||||
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Date of Appointment : |
25.04.1995 |
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PAN No.: |
AAKPS7689B |
||||||||||||||||
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Aadhar No.: |
983752988922 |
||||||||||||||||
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DIN No.: |
00054740 |
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Other Directorship :
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|
||||||||||||||||
|
Name : |
Mrs. Gunvanti Suresh Shah |
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Designation : |
Director |
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|
Address : |
1402, Lodha Arya, Sriram Tekdi Road, Sindhu Nagar, Mumbai, Maharashtra, India |
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Date of Birth/Age : |
09.08.1956 |
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Date of Appointment : |
14.03.2002 |
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DIN No.: |
00054775 |
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KEY EXECUTIVES
|
Name : |
Mr. Prashant Shukla |
|
Designation : |
Finance Consultant |
|
|
|
|
Name : |
Mr. Surendra Jain |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 29.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Somchand Bhoja Shah HUF |
|
26600 |
|
Suresh S Shah HUF |
|
37300 |
|
Suresh S Shah Jointly Gunvanti Shah |
|
43795 |
|
Gunvanti S Shah Jointly Suresh Shah |
|
58600 |
|
Somchand Bhoja shah Jointly Suresh Shah |
|
10000 |
|
Tejal S Shah Jointly Hitul Gutka |
|
600 |
|
Tejal S Shah Jointly Gunvanti Shah |
|
20600 |
|
Suresquare Trading and Consultancy Private Limited |
|
45900 |
|
Ajaayu Trading and Consultancy Private Limited |
|
21599 |
|
Paharia Trading and Consultancy Private Limited |
|
1980 |
|
Sudhir K Jain |
|
500 |
|
Shobha Paharia |
|
5 |
|
Usha R Kala |
|
5 |
|
Tanvi Paharia |
|
5 |
|
Arun MAhendrakumar HUF |
|
5 |
|
Aayush Jain |
|
1 |
|
Jinal Shah Jointly with Tejas Shah |
|
5000 |
|
Isha Maru |
|
1 |
|
Premachand shah |
|
1 |
|
Pushaben Shah |
|
1 |
|
L S Malde |
|
1 |
|
Harsha Maru |
|
1 |
|
|
|
|
|
Total |
|
272500 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
37.36 |
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
37.87 |
|
Public/Other than promoters (Body corporate) |
24.77 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Embroidery Dyed Yarn and also Consultancy
Services. [Registered
Activity and also Confirmed by Management] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Credit [30/60 Days] |
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Purchasing : |
Credit [30 Days] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
215 [Approximately] |
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Bankers : |
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Facilities : |
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|
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Auditors : |
|
|
Name : |
Sweta S Jain and Associates Chartered Accountants |
|
Address : |
303, Parvati Building, Mahesh Park, Gokul Nagar, Bhiwandi - 421302,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AHBPJ1528J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Party : |
Ryewood Impex Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
INR 10/- each |
INR 3.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
272500 |
Equity Shares |
INR 10/- each |
INR 2.725 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 |
2.725 |
2.725 |
2.725 |
|
(b) Reserves & Surplus |
26.180 |
58.719 |
54.257 |
|
(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) |
28.905 |
61.444 |
56.982 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
103.592 |
110.105 |
96.532 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
8.394 |
7.798 |
|
(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) |
103.592 |
118.499 |
104.330 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
157.273 |
160.271 |
134.814 |
|
(b)
Trade payables |
56.424 |
28.601 |
13.690 |
|
(c)
Other current liabilities |
20.608 |
17.144 |
10.495 |
|
(d)
Short-term provisions |
1.366 |
3.332 |
1.281 |
|
Total
Current Liabilities (4) |
235.671 |
209.348 |
160.280 |
|
|
|
|
|
|
TOTAL |
368.168 |
389.291 |
321.592 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
100.584 |
98.631 |
96.320 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.088 |
0.079 |
0.079 |
|
(c) Deferred tax assets
(net) |
6.153 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
2.120 |
2.079 |
1.927 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
108.945 |
100.789 |
98.326 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
129.241 |
166.161 |
112.548 |
|
(c)
Trade receivables |
120.211 |
110.254 |
101.583 |
|
(d)
Cash and cash equivalents |
1.754 |
0.747 |
2.374 |
|
(e)
Short-term loans and advances |
8.017 |
11.340 |
6.761 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
259.223 |
288.502 |
223.266 |
|
|
|
|
|
|
TOTAL |
368.168 |
389.291 |
321.592 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
643.415 |
625.208 |
568.865 |
|
|
|
Other Income |
2.951 |
2.154 |
3.584 |
|
|
|
TOTAL |
646.366 |
627.362 |
572.449 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost or raw Materials and
Components Consumed |
398.588 |
392.594 |
399.129 |
|
|
|
Increase/decrease in inventories of finished goods and
work-in-progress |
34.505 |
(40.018) |
(18.309) |
|
|
|
Employees benefits expense |
29.284 |
33.380 |
19.002 |
|
|
|
Other expenses |
191.021 |
198.656 |
133.419 |
|
|
|
TOTAL |
653.398 |
584.612 |
533.241 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(7.032) |
42.750 |
39.208 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
29.771 |
26.200 |
24.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(36.803) |
16.550 |
14.598 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.284 |
9.935 |
11.749 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)BEFORE
TAX |
(47.087) |
6.615 |
2.849 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(14.547) |
2.152 |
0.763 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(32.540) |
4.463 |
2.086 |
|
|
|
|
|
|
|
|
|
|
EXPORT OF GOODS
CALCULATED ON FOB BASIS |
6.541 |
8.119 |
13.139 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
(119.41) |
16.38 |
7.66 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term borrowings |
4.500 |
5.692 |
9.353 |
|
|
|
|
|
|
Cash generated from operations |
51.569 |
25.114 |
11.753 |
|
|
|
|
|
|
Net Cash flow from (used in) Operating Activities |
49.298 |
23.660 |
9.874 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
68.19 |
64.37 |
65.18 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.35 |
5.67 |
5.60 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
51.67 |
26.59 |
12.52 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.05) |
0.26 |
0.35 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.07) |
0.43 |
0.41 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.93 |
0.84 |
0.83 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
9.18 |
4.49 |
4.22 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
8.15 |
3.41 |
2.81 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
3.48 |
1.61 |
1.69 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(0.24) |
1.63 |
1.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(5.06) |
0.71 |
0.37 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(8.84) |
1.15 |
0.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(112.58) |
7.26 |
3.66 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.10 |
1.38 |
1.39 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.55 |
0.58 |
0.69 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.08 |
0.16 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
97.38 |
101.31 |
88.33 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.10 |
1.38 |
1.39 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
2.725 |
2.725 |
2.725 |
|
Reserves & Surplus |
54.257 |
58.719 |
26.180 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
56.982 |
61.444 |
28.905 |
|
|
|
|
|
|
long-term borrowings |
96.532 |
110.105 |
103.592 |
|
Short term borrowings |
134.814 |
160.271 |
157.273 |
|
Current Maturities of Long
term Borrowings |
9.353 |
5.692 |
4.500 |
|
Total
borrowings |
240.699 |
276.068 |
265.365 |
|
Debt/Equity
ratio |
4.224 |
4.493 |
9.181 |
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 |
568.865 |
625.208 |
643.415 |
|
|
|
9.904 |
2.912 |
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 |
568.865 |
625.208 |
643.415 |
|
Profit/(Loss) |
2.086 |
4.463 |
(32.540) |
|
|
0.37% |
0.71% |
(5.06%) |
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 |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
-----------------------------------------------------------------------------------------------------------------------------
OBSERVATION POINTS
|
Name of Company : |
SANIMO POLYMERS PRIVATE LIMITED |
|
|
|
|
Address : |
Shreenathji Industrial Estate, Block No. 211 A/B, Moto Barsara, Taluka
Mangrol, Kim Surat - 394110, Gujarat, India |
|
|
|
|
Person to whom we met: |
Mr. Surendra Jain [General Manager] |
|
|
|
|
Name Board : |
Not Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Total Floors of the Building : |
2 Storey Building |
|
|
|
|
Subject situated on: |
Whole Premises |
|
|
|
|
Locality: |
Industrial |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
No. of employees seen at premises: |
70 [Approx.] |
|
|
|
|
Visibility of
Items: |
·
Computers ·
Air Conditioner ·
Office Equipment |
|
|
|
|
Proof of visit: |
Photos |
-----------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
MRS. GUNVANTI
SURESH SHAH [DIRECTOR]
|
SOURCES OF FUNDS |
|
|
31.03.2018 [Provisional] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
|
|
36.324 |
|
|
2] Reserves & Surplus |
|
|
0.000 |
|
|
NETWORTH |
|
|
36.324 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000
|
|
|
2] Unsecured Loans |
|
|
0.000
|
|
|
TOTAL BORROWING |
|
|
0.000
|
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
36.324 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
40.676 |
|
|
FIXED ASSETS [Net Block] |
|
|
0.000
|
|
|
Capital work-in-progress |
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.613 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.713
|
|
|
Other Current Assets |
|
|
0.082
|
|
|
Loans & Advances |
|
|
0.000
|
|
Total
Current Assets |
|
|
0.795
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities |
|
|
7.760
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
7.760
|
|
|
Net Current Assets |
|
|
(6.965)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
36.324 |
|
-----------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
MR.
SURESH SOMCHAND SHAH [DIRECTOR]
|
SOURCES OF FUNDS |
|
|
31.03.2018 [Provisional] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
|
|
38.887 |
|
|
2] Reserves & Surplus |
|
|
0.000 |
|
|
NETWORTH |
|
|
38.887 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000
|
|
|
2] Unsecured Loans |
|
|
0.000
|
|
|
TOTAL BORROWING |
|
|
0.000
|
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
38.887 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
33.048
|
|
|
Capital work-in-progress |
|
|
0.000
|
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
3.528 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
1.758
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
66.873
|
|
Total
Current Assets |
|
|
68.631
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities |
|
|
66.320
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
66.320
|
|
|
Net Current Assets |
|
|
2.311
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
38.887 |
|
-----------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF FLEXIBLE BANK FINANCE
(INR IN MILLION)
|
Particulars |
OPERATING YEARS |
||
|
|
2018 [Estimated] |
2019 [Projected] |
2020 [Projected] |
|
Total CA |
262.409 |
278.611 |
301.695 |
|
|
|
|
|
|
Other CL (other than bank borings) |
54.737 |
59.929 |
69.917 |
|
|
|
|
|
|
Working capital gap |
207.672 |
218.682 |
231.778 |
|
|
|
|
|
|
Net working capital (Actual/projected) |
57.672 |
68.682 |
81.779 |
|
|
|
|
|
|
Flexible bank finance (FBF) |
150.000 |
150.000 |
150.000 |
|
|
|
|
|
|
NWC to TCA (%) |
21.98 |
24.65 |
27.11 |
|
|
|
|
|
|
Flexible bank finance (FBF) to TCA (%) |
57.16 |
53.84 |
49.72 |
|
|
|
|
|
|
S creditors to TCA (%) |
14.10 |
14.69 |
16.14 |
|
|
|
|
|
|
Net sales |
693.511 |
758.379 |
823.039 |
|
|
|
|
|
|
Inventory to net sales (Days) |
69.74 |
69.40 |
70.41 |
|
|
|
|
|
|
Inventory to cost of sales (days) |
75.50 |
75.04 |
76.02 |
|
|
|
|
|
|
Receivables to gross sales (days) |
63.19 |
61.20 |
59.90 |
|
|
|
|
|
|
S creditors to purchases (days) |
31.80 |
32.18 |
35.39 |
-----------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENT
OPERATING STATEMENT
(INR IN MILLION)
|
Particulars |
OPERATING YEARS |
||
|
|
2018 [Estimated] |
2019 [Projected] |
2020 [Projected] |
|
Operating Statement |
|
|
|
|
i. Domestic Sale |
606.000 |
616.525 |
656.556 |
|
ii. Export Sale |
70.000 |
120.050 |
142.055 |
|
|
|
|
|
|
Job work charges
received |
30.000 |
30.000 |
32.000 |
|
|
|
|
|
|
Total |
706.000 |
766.575 |
830.611 |
|
|
|
|
|
|
Less: VAT |
12.489 |
8.196 |
7.572 |
|
|
|
|
|
|
Net sales |
693.511 |
758.379 |
823.039 |
|
|
|
|
|
|
% age rise or fall in net sales as
compared to previous year |
7.79% |
9.35% |
8.53% |
|
|
|
|
|
|
COST OF SALES |
|
|
|
|
Raw Material
[including stores and other items used in the process of manufacturer] |
|
|
|
|
a) Imported |
0.000 |
0.000 |
0.000 |
|
b) Indigenous |
424.425 |
462.800 |
499.265 |
|
|
|
|
|
|
Other Spares |
|
|
|
|
a) Imported |
0.000 |
0.000 |
0.000 |
|
b) Indigenous |
90.000 |
97.925 |
107.525 |
|
|
|
|
|
|
Power & Fuel |
11.525 |
14.500 |
16.025 |
|
|
|
|
|
|
Direct Labour |
31.500 |
38.025 |
42.056 |
|
|
|
|
|
|
Other operating
expenses |
76.065 |
88.025 |
99.525 |
|
|
|
|
|
|
Depreciation |
10.233 |
10.128 |
8.883 |
|
|
|
|
|
|
Sub-Total |
643.748 |
711.403 |
773.279 |
|
|
|
|
|
|
Add: Opening
Stock in Process |
79.048 |
81.000 |
89.000 |
|
|
|
|
|
|
Sub Total |
722.796 |
792.403 |
862.279 |
|
|
|
|
|
|
Deduct : Closing
Stock in Process |
81.000 |
89.000 |
97.025 |
|
|
|
|
|
|
Cost of
Production |
641.796 |
703.403 |
765.254 |
|
|
|
|
|
|
Add: Opening
Stock of Finished Goods |
21.768 |
23.000 |
25.000 |
|
|
|
|
|
|
Sub Total |
663.564 |
726.403 |
790.254 |
|
|
|
|
|
|
Deduct : Closing
Stock OF Finished Goods |
23.000 |
25.000 |
28.000 |
|
|
|
|
|
|
Sub Total (Total Cost of Sales) |
640.564 |
701.403 |
762.254 |
|
|
|
|
|
|
Selling Expenses
and Administrative Expenses |
23.000 |
25.800 |
27.800 |
|
|
|
|
|
|
Sub Total |
663.564 |
727.203 |
790.054 |
|
|
|
|
|
|
Operating Profit
before interest |
29.947 |
31.176 |
32.985 |
|
|
|
|
|
|
Interest |
25.459 |
26.036 |
25.844 |
|
|
|
|
|
|
Operating Profit after
Interest |
4.488 |
5.140 |
7.141 |
|
|
|
|
|
|
Add: Other
non-operating Income |
|
|
|
|
a) Interest on
bank deposit |
0.200 |
0.200 |
0.300 |
|
|
|
|
|
|
b) Other interest
and late payment charges |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
c) Discounts and
sundry balance wr5itten off |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
d) Other income |
2.500 |
3.500 |
4.000 |
|
|
|
|
|
|
Sub Total (Income) |
2.700 |
3.700 |
4.300 |
|
|
|
|
|
|
Deduct other non-operating expenses |
|
|
|
|
a) Deferred tax
expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
b) Preli. And
Preop. Expenses written off |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
c) Other expenses
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sub Total (Expenses) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net of other
non-operating Income/Expenses |
2.700 |
3.700 |
4.300 |
|
|
|
|
|
|
Profit before Tax /Loss (PBT) |
7.188 |
8.840 |
11.441 |
|
|
|
|
|
|
Provision for
Taxes |
1.797 |
2.917 |
3.776 |
|
|
|
|
|
|
Net Profit/Loss (PAT) |
5.391 |
5.923 |
7.666 |
|
|
|
|
|
|
Retained profit |
5.391 |
5.923 |
7.666 |
|
|
|
|
|
|
Retained profit/net profit |
100 |
100 |
100 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(INR IN MILLION)
|
Particulars |
OPERATING YEARS |
||
|
|
2018 [Estimated] |
2019 [Projected] |
2020 [Projected] |
|
LIABILITIES |
|
|
|
|
Current Liabilities |
|
|
|
|
Short Term loans from Bank |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Short Term
Borrowings from Others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sundry Creditors |
3.700 |
40.935 |
48.700 |
|
|
|
|
|
|
Advance Payment from Customers/ deposits from dealers |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Provision for Taxation |
1.800 |
2.041 |
2.528 |
|
|
|
|
|
|
Dividend Payable |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Statutory Liab. (Due within one Year) |
1.122 |
1.357 |
1.492 |
|
|
|
|
|
|
Deposits/instalments of term loan/DPGs/Debentures/ECB/ADR/GDR (Due within one Year) |
3.315 |
3.315 |
2.951 |
|
|
|
|
|
|
Other Current Liabilities & Provisions (due within one year) |
11.500 |
12.281 |
14.245 |
|
|
|
|
|
|
Sub Total |
54.737 |
59.929 |
69.917 |
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES |
204.737 |
209.929 |
219.917 |
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
Debentures (not maturing within one Year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Preference Shares (redeemable after 1 year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Term Loan from Bank (excluding Instalments payable within 1 year) |
9.488 |
6.173 |
3.222 |
|
|
|
|
|
|
Deferred Payments Credits Bank (excluding Instalments due 1 year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Term deposits (after 1 year) |
85.000 |
87.500 |
87.500 |
|
|
|
|
|
|
Other term Liabilities |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL TERM LIABILITIES |
94.488 |
93.673 |
90.722 |
|
|
|
|
|
|
TOTAL OF OUTSIDE LIABILITIES |
299.225 |
303.603 |
310.639 |
|
|
|
|
|
|
NET WORTH |
|
|
|
|
Ordinary share capital |
2.725 |
2.725 |
2.725 |
|
|
|
|
|
|
Preference shares beyond 12 years |
20.000 |
20.000 |
20.000 |
|
|
|
|
|
|
Share application money |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
General Reserve |
8.130 |
13.521 |
19.443 |
|
|
|
|
|
|
Revaluation Reserve |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other reserves (excluding Provisions) |
|
|
|
|
a) Share Premium Reserve |
18.050 |
18.050 |
18.050 |
|
|
|
|
|
|
b) Deferred Tax Liability |
8.596 |
9.025 |
8.525 |
|
|
|
|
|
|
Surplus (+) or
deficit (-) in Profit & Loss a/c |
5.391 |
5.923 |
7.666 |
|
|
|
|
|
|
NET WORTH |
62.892 |
69.243 |
76.409 |
|
|
|
|
|
|
TOTAL LIABILITIES |
362.117 |
372.846 |
387.048 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
Current Assets |
|
|
|
|
Cash & Bank Balances Investment |
1.371 |
0.718 |
0.885 |
|
|
|
|
|
|
Govt. & other Trustee securities |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Fixed Deposits with Banks/MMMF, CPs, CDs, etc. |
0.148 |
0.148 |
0.148 |
|
|
|
|
|
|
Receivables (Less than 6 months) other than deferred and exports |
115.000 |
120.000 |
126.500 |
|
|
|
|
|
|
Receivables Export discounting by banks |
5.000 |
6.000 |
7.000 |
|
|
|
|
|
|
Receivables (Less than 6 months) |
2.225 |
2.525 |
2.800 |
|
|
|
|
|
|
Duty drawback Receivables |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Receivables from government authority |
3.000 |
3.000 |
3.700 |
|
|
|
|
|
|
Inventory |
|
|
|
|
Raw material [Including stores and other items used in the process of manufacture) |
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
|
Indigenous |
21.500 |
23.000 |
26.000 |
|
|
|
|
|
|
Stock in Process |
81.000 |
89.000 |
97.025 |
|
|
|
|
|
|
Finished Goods |
23.000 |
25.000 |
28.000 |
|
|
|
|
|
|
Other consumable spares |
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Advances to Suppliers of raw material and stores/spares |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Advance Payment of Taxes |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Current Assets like cash margin on LCs, LGs, etc. |
3.165 |
1.720 |
1.905 |
|
|
|
|
|
|
TOTAL CURRENT
ASSETS |
262.409 |
278.611 |
301.695 |
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
Gross Block (Land & Building Machinery, work-in-process) |
233.782 |
238.437 |
238.437 |
|
|
|
|
|
|
Depreciation to date |
136.162 |
146.290 |
155.173 |
|
|
|
|
|
|
NET BLOCK |
97.620 |
92.147 |
83.264 |
|
|
|
|
|
|
Investments/book debts/advances/deposits/deposits which are not current assets |
97.620 |
92.147 |
83.264 |
|
|
|
|
|
|
a) Investments in subsidiary companies /affiliates |
-- |
-- |
-- |
|
b) Others |
0.089 |
0.089 |
0.089 |
|
|
|
|
|
|
Advances to supplier of capital good & contractors |
-- |
-- |
-- |
|
|
|
|
|
|
Deferred receivables [maturity exceeding 1 year] |
-- |
-- |
-- |
|
|
|
|
|
|
Others, ICDs, etc. |
-- |
-- |
-- |
|
|
|
|
|
|
Deposits with Govt. debt/ statutory bodies, etc. |
2.00 |
2.000 |
2.000 |
|
|
|
|
|
|
Non-consumable stores and spares |
-- |
-- |
-- |
|
|
|
|
|
|
Other non-current assets including dues from directors |
-- |
-- |
-- |
|
|
|
|
|
|
Total other
non-current assets |
2.089 |
2.089 |
2.018 |
|
|
|
|
|
|
Intangible assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Total Assets |
362.117 |
372.846 |
387.047 |
|
|
|
|
|
|
Tangible net worth |
62.892 |
69.243 |
76.409 |
|
|
|
|
|
|
Net working capital
|
57.672 |
68.682 |
81.779 |
|
|
|
|
|
|
Current ratio |
1.28 |
1.33 |
1.37 |
|
|
|
|
|
|
TOL/TNW |
4.76 |
4.38 |
4.07 |
|
|
|
|
|
|
Quasi debt-equity
ratio |
1.45 |
1.38 |
1.36 |
------------------------------------------------------------------------------------------------------------------------------
FUND FLOW STATEMENT
(INR IN MILLION)
|
Particulars |
OPERATING YEARS |
||
|
|
2018 [Estimated] |
2019 [Projected] |
2020 [Projected] |
|
SOURCES |
|
|
|
|
Net profit [after tax] |
5.391 |
5.923 |
7.666 |
|
|
|
|
|
|
Depreciation |
10.233 |
10.128 |
8.883 |
|
|
|
|
|
|
Increase in capital - including share application money |
28.596 |
0.429 |
(0.500) |
|
|
|
|
|
|
Increase in term liabilities [including public deposit] |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Decrease in |
|
|
|
|
i) Fixed assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
ii) Other non-current assets |
6.273 |
0.000 |
0.000 |
|
|
|
|
|
|
Others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Total |
50.494 |
16.480 |
16.049 |
|
|
|
|
|
|
Uses |
|
|
|
|
NET LOSS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Decrease in term liabilities [including public deposit] |
9.103 |
0.815 |
2.951 |
|
|
|
|
|
|
Increase in |
|
|
|
|
i) Fixed assets |
7.270 |
4.655 |
0.000 |
|
|
|
|
|
|
ii) Other non-current assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Dividend payments |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Total |
5.470 |
5.470 |
2.951 |
|
|
|
|
|
|
Long term surplus/deficit |
34.121 |
11.010 |
13.097 |
|
|
|
|
|
|
Increase/decrease in current assets |
3.186 |
16.202 |
23.084 |
|
|
|
|
|
|
Increase/decrease in current liabilities other than bank borrowings |
(47.791) |
5.192 |
9.987 |
|
|
|
|
|
|
Increase/decrease in working capital gap |
50.977 |
11.010 |
13.097 |
|
|
|
|
|
|
NET SURPLUS/DEFICIT
|
(16.856) |
(0.000) |
0.001 |
|
|
|
|
|
|
Increase/decrease in bank borrowings |
16.856 |
0.000 |
0.000 |
|
|
|
|
|
|
INCREASE/DECREASE
IN NET SALES |
50.06 |
64.868 |
4.660 |
-----------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS
AND
CURRENT LIABILITIES
(INR IN MILLION)
|
Particulars |
OPERATING YEARS |
||
|
|
2018 [Estimated] |
2019 [Projected] |
2020 [Projected] |
|
CURRENT ASSETS |
|
|
|
|
Raw materials [including stores and other items used in the process of manufacturer] |
|
|
|
|
a) Imported |
0.000 |
0.000 |
0.000 |
|
Months consumption |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
b) Indigenous |
0.000 |
0.000 |
0.000 |
|
Months consumption |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Other consumable spare excluding those included in 1 above |
|
|
|
|
a) Imported |
0.000 |
0.000 |
0.000 |
|
Months consumption |
-- |
-- |
-- |
|
|
|
|
|
|
b) Indigenous |
7.000 |
7.200 |
7.732 |
|
Months consumption |
(0.93) |
(0.88) |
(0.86) |
|
|
|
|
|
|
Stock-in-process |
81.000 |
89.000 |
97.025 |
|
Months cost of production |
(1.51) |
(1.52) |
(1.52) |
|
|
|
|
|
|
Finished goods |
23.000 |
25.000 |
28.000 |
|
Months cost of production |
(0.43) |
(0.43) |
(0.44) |
|
|
|
|
|
|
Receivables other than export and deferred receivable |
117.225 |
122.525 |
129.300 |
|
Months domestic sales |
(2.32) |
(2.38) |
(2.36) |
|
|
|
|
|
|
Export receivables excluding deferred payment sales (including bills purchased and discounted by bankers) |
5.000 |
6.000 |
7.000 |
|
Months export sales |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Duty drawback receivables |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Advance to suppliers of raw materials and stores/spares consumables |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other current assets including cash and bank balances and deferred receivables due within 1 year (specify major items) |
7.684 |
5.886 |
6.638 |
|
|
|
|
|
|
To agree with item 34 in form III |
262.409 |
278.611 |
301.695 |
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
(Other than bank borrowings for working capital) |
|
|
|
|
Creditors for purchase of raw materials, store and consumable spares |
37.000 |
40.935 |
48.700 |
|
Months purchases |
(0.86) |
(0.88) |
(0.96) |
|
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Statuary liabilities |
2.922 |
3.398 |
4.020 |
|
|
|
|
|
|
Other current liabilities |
14.815 |
15.596 |
17.196 |
|
|
|
|
|
|
Total |
54.737 |
59.929 |
69.917 |
-----------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MRS.
GUNVANTI SURESH SHAH [DIRECTOR]
(INR IN MILLION)
ASSETS
IMMOVABLE
PROPERTIES:
|
Particular |
Amount |
|
PRESENT ESTIMATED MARKET VALUE OF THE PROPERTY |
3.000 |
MOVABLE
PROPERTIES:
SHARES/DEBENTURES, ETC.
|
Name of the company |
Total amount Face Value |
|
Balance sheet |
0.011 |
|
Balance sheet |
0.028 |
|
Total |
0.039 |
INVESTMENT IN GOVERNMENT SECURITIES BONDS/ NSE,
ETC.
|
Name of the company |
Date of purchase |
Amount |
|
PPF |
Balance sheet |
1.307 |
|
PF |
Balance sheet |
0.020 |
|
Total |
|
1.327 |
|
Particulars |
Amount |
|
Capital invested in business name of firm/company |
1.248 |
|
Particulars |
Amount |
|
Full details of other investment if any i.e. Jewellery, Investment, in other firms, etc.) |
4.032 |
TOTAL ASSETS : INR 9.646 MILLION
LIABILITIES
DETAILS OF LOANS
|
Particulars |
Amount |
|
Liabilities other than to Bank and Financial Institutions |
0.400 |
PARTICULARS
OF LEGAL HEIRS
|
Name |
Relationship |
Age |
Present Address |
|
Mr. Suresh Shah |
Husband |
63 |
1402, Lodha Arya, Sriram Tekdi Road, Sindhu Nagar, Mumbai, Maharashtra, India |
|
Mr. Tejas S Shah |
Son |
32 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. SURESH
SOMCHAND SHAH [DIRECTOR]
(INR IN MILLION)
ASSETS
IMMOVABLE
PROPERTIES:
|
Particular |
Amount |
|
PRESENT ESTIMATED MARKET VALUE OF THE PROPERTY |
30.000 |
|
|
3.000 |
MOVABLE
PROPERTIES:
LIC POLICIES.
|
Name of the company |
Date of issuance of policy |
Annual Premium |
|
Balance sheet |
0.000 |
0.033 |
|
Surrender Value |
0.633 |
0.000 |
SHARES/DEBENTURE, ETC.
|
Name of the company |
Total amount Face Value |
|
As per balance sheet |
0.010 |
|
Tata power |
0.002 |
|
Total |
0.012 |
INVESTMENT IN GOVERNMENT SECURITIES BONDS/ NSE,
ETC.
|
Name of the company |
Date of purchase |
Amount |
|
PF |
Balance sheet |
0.246 |
|
EPF |
Balance sheet |
0.012 |
|
Total |
|
0.258 |
|
Particulars |
Amount |
|
Details like
Reg. No. type and value of vehicles owned by me [Honda City MH-01-CP-418] |
0.334 |
|
Particulars |
Amount |
|
Capital invested in business name of firm/company |
2.625 |
|
Particulars |
Amount |
|
Full details of other investment if any i.e. Jewellery, Investment, in other firms, etc.) |
2.916 |
LIABILITIES
DETAILS OF LOANS
|
Particulars |
Amount |
|
Liabilities other than to Bank and Financial Institutions |
0.553 |
PARTICULARS
OF LEGAL HEIRS
|
Name |
Relationship |
Age |
Present Address |
|
Gunvanti S Shah |
Wife |
61 |
1402, Lodha Arya, Sriram Tekdi Road, Sindhu Nagar, Mumbai, Maharashtra, India |
|
Tejas S Shah |
Son |
32 |
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE
The company initiated its business in the year 2002 with manufacturing/ processing of polyester Embroidery yarns. Year on year of innovation and expansion the manufacturing units has twisting capacity of 120 TPM (Tones Per Month) and dyeing capacity of 200 TPM. The company purchases polyester filament yarns and converts it into cabled yarns. This yarn is sold in grey (un-dyed) state or is further processed, dyed and packaged into various packing as per the requirement of the end-use. The company houses its manufacturing activity into three units located at Kim-near Surat a textile town of western India. The company has machinery for all the stage of manufacturing which including twisting - doubling - soft winding - dyeing and packing including ETP plant, boiler, etc.
The company also as “OKYOTEX” certification for the use of ecofriendly dyes. The certification is a must pre-requirement for export to European countries.
The company is ably managed by the management which includes directors Mr. Suresh Shah, his son Mr. Tejas Shah and professional team.
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
(GENERAL DETAILS)
|
Name of the Owner |
SANIMO POLYMERS PRIVATE LIMITED |
|
|
|
|
Location, Street, Ward No |
Plot No. 3-B, Opposite Fairdeal, Near
Navapura Patia, Sai Kanta Mota Borasara, Taluka Mangrol District Surat, State
Saurastra |
|
Present Market Value |
INR 24.033 Million |
|
|
|
|
Realizable Value |
INR 21.630 Million |
|
|
|
|
Forced Sale Value |
INR 19.467 Million |
|
|
|
|
Cost of Construction |
INR 14.870 Million |
|
|
|
|
For Insurance Purpose |
INR 14.870 Million |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
(GENERAL DETAILS)
|
Name of the Owner |
Mr. Dipan Jayantilal Shah |
|
|
|
|
Location, Street, Ward No |
Plot No. 1, of Block No. 213, Essar Petrol
Pump Gully, Kim Station Road, Mota Borasara, Taluka Mangrol District Surat, State
Saurastra |
|
Present Market Value |
INR 33.232 Million |
|
|
|
|
Realizable Value |
INR 29.909 Million |
|
|
|
|
Forced Sale Value |
INR 26.918 Million |
|
|
|
|
Cost of Construction |
INR 17.316 Million |
|
|
|
|
For Insurance Purpose |
INR 17.316 Million |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
(GENERAL DETAILS)
|
Name of the Owner |
Mr. Dipan Jayantilal Shah |
|
|
|
|
Location, Street, Ward No |
Plot No. 9, of Block No. 211, Essar Petrol
Pump Gully, Kim Station Road, Mota Borasara, Taluka Mangrol District Surat,
State Saurastra |
|
Present Market Value |
INR 59.113 Million |
|
|
|
|
Realizable Value |
INR 53.202 Million |
|
|
|
|
Forced Sale Value |
INR 47.882 Million |
|
|
|
|
Cost of Construction |
INR 38.627 Million |
|
|
|
|
For Insurance Purpose |
INR 38.627 Million |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
(GENERAL DETAILS)
|
Name of the Owner |
Mr. Sureshkumar M Paharia |
|
|
|
|
Location, Street, Ward No |
Plot No. 3, of Block No. 213, Essar Petrol
Pump Gully, Kim Station Road, Mota Borasara, Taluka Mangrol District Surat,
State Saurastra |
|
Present Market Value |
INR 13.356 Million |
|
|
|
|
Realizable Value |
INR 12.020 Million |
|
|
|
|
Forced Sale Value |
INR 10.818 Million |
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G42522888 |
80023469 |
BANK OF BARODA |
12/04/2003 |
29/03/2017 |
- |
177564000.0 |
C.P. TANK BRANCH -
6/10, HALAI LOHANA MAHAJAN BUILDR. BABASAHEB JAYKAR MARG,MUMBAIMH400002IN |
------------------------------------------------------------------------------------------------------------------------------
STATE OF AFFAIRS
The company is engaged in the business of consultancy services. There has been no change in the business of the company during the financial year ended 31st March 2017.
The highlights of the company’s performance are as under:
· Revenue from operations increased by 2.91% from INR 625.208 million 5to INR 643.415 million.
· Net profit for the year increase by 829.15% from INR 4.463 million to INR (32.540)
· Earnings per share have increase by (829%) from INR 1.638 million to INR (11.941) million
FIXED ASSETS
· Freehold Land
· Building
· Plant and Machinery
· Electrical Installation
· Computers
· Furniture and Fixture
· Office Equipment
· Vehicles
------------------------------------------------------------------------------------------------------------------------------
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 |
|
UK Pound |
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
ARC |
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.