|
|
|
MIRA INFORM REPORT
|
Report No. : |
504321 |
|
Report Date : |
20.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
BIRLA FURUKAWA FIBRE OPTICS PRIVATE LIMITED (w.e.f.
14.01.2015) |
|
|
|
|
Formerly Known
As : |
BIRLA FURUKAWA FIBRE OPTICS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.L-62 to
L-64, Verna Industrial Estate, Verna – 403 722, Goa |
|
Tel. No.: |
91-830-6696400 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
23.07.2009 |
|
|
|
|
Com. Reg. No.: |
24-006140 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 144.510 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33200GA2009PTC006140 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
1709000821 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
30AADCB8087A1Z4 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCB8087A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is predominantly engaged in the manufacturing and selling of Optical Fibre
and allied products. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of M. P. Birla Group and was incorporated in the year 2009. It is a manufacturer of single mode optical fibre.
|
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 |
CARE |
|
Rating |
Long term borrowing: A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
26.03.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term borrowing: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
26.03.2018 |
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 20.04.2018
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 BY
|
Name : |
Mr. Vishant Prabhu |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-832-6696400 |
|
Date : |
19.04.2018 |
LOCATIONS
|
Registered Office / Factory: |
Plot No.L-62 to
L-64, Verna Industrial Estate, Verna – 403 722, Goa, India |
|
Tel. No.: |
91-830-6696400 |
|
Fax No.: |
91-832-6696414 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Dhanraj Bansal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
House No. 12, Gotri Co-Operative Housing
Society Behind Harikripa Society, Gotri Road, Vadodara -390021, Gujarat,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.08.1939 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
M.Sc. Chemistry |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.07.2009 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00050612 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Yashwant Singh Lodha |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-802, K.M. Apartments Plot No.12,
Sector-12, Dwarka, Delhi -110075, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.04.1964 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Chartered Accountant and Company Secretary |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.07.2009 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00052861 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Harsh Vardhan Lodha |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
10 Judges Court Road, Flat No. 9, Alipore,
Kolkata- 700027, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.02.1967 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Chartered Accountant |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.07.2009 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00394094 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Akio Nakajima |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Mizuho 2-1-1-14-708 Hanamigawa Ward Chiba
2620026, Japan |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.11.1969 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.06.2017 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06904305 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Shunichi Nakamura |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Nishiki-Cho 4-1-801 Hiratsuka Kanaga Japan
wa 2540044, Japan |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.01.1959 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Post Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.08.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07222387 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Soumitra Ashutosh Chawathe |
|
Designation : |
Company Secretary |
|
Address : |
201 Travasso Heights, Near Yashodhan
Hospital, Power House Road, Aquem Alto Margao 403601, Goa, India |
|
Date of Appointment : |
01.04.2017 |
|
PAN No.: |
AIWPC4547J |
|
|
|
|
Name : |
Mr. Prahlad Ray Somani |
|
Designation : |
Chief Finance Officer |
|
Address : |
Flat No. 8, First Floor, Building C, Sapna
Oasis, Nagesh Garden Road, Borda Margao - 403602, Goa, India |
|
Date of Appointment : |
11.02.2015 |
|
PAN No.: |
ANTPS4443D |
|
|
|
|
Name : |
Mr. Kapil Mehta |
|
Designation : |
Chief Executive Officer |
|
Address : |
114, Kamat Royale Building, 6, Kerant Caranzalem 403002, Goa, India |
|
Date of Appointment : |
09.03.2016 |
|
PAN No.: |
AIAPM7521L |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Universal Cables Limited, India |
|
4588465 |
|
The Punjab Produce and Trading Company Private Limited, India |
|
1266477 |
|
Baroda Agents and Trading Company Private Limited, India |
|
688453 |
|
Gwalior Webbing Company Private Limited, India |
|
289011 |
|
August Agents Limited |
|
369844 |
|
Insilco Agents Limited |
|
369844 |
|
Laneseda Agents Limited |
|
375714 |
|
Furukawa Electric Co. Limited, Japan |
|
6502750 |
|
Furukawa Electric Co. Limited, Japan (Jointly with Katsuhiko Murota) |
|
1 |
|
Furukawa Electric Co. Limited, Japan (Jointly with Yoshiaki Mizota) |
|
1 |
|
Total |
|
14450560 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.06.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is predominantly engaged in the manufacturing and selling of Optical Fibre
and allied products. [Registered
Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
V. Sankar Aiyar and Company Chartered Accountants |
|
Address : |
Satyam Cinema Complex, Ranjit Nagar Community Centre, New Delhi – 110008, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFV0781D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other related party : |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14450560 |
Equity Shares |
INR 10/- each |
INR 144.506 Million |
|
|
|
|
|
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14450560 |
Equity Shares |
INR 10/- each |
INR 144.510 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
144.510 |
144.510 |
123.080 |
|
(b) Reserves &
Surplus |
1027.360 |
856.570 |
708.560 |
|
(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) |
1171.870 |
1001.080 |
831.640 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
137.670 |
197.780 |
100.460 |
|
(b) Deferred tax
liabilities (Net) |
69.970 |
69.920 |
69.610 |
|
(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) |
207.640 |
267.700 |
170.070 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
16.600 |
332.480 |
359.610 |
|
(b) Trade payables |
523.920 |
404.110 |
407.270 |
|
(c) Other current
liabilities |
98.540 |
174.990 |
125.640 |
|
(d) Short-term provisions |
8.580 |
19.090 |
17.710 |
|
Total Current Liabilities
(4) |
647.640 |
930.670 |
910.230 |
|
|
|
|
|
|
TOTAL |
2027.150 |
2199.450 |
1911.940 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
827.590 |
885.520 |
675.420 |
|
(ii) Intangible Assets |
0.000 |
0.090 |
0.190 |
|
(iii) Capital
work-in-progress |
7.760 |
2.510 |
3.340 |
|
(iv) Intangible assets
under development |
3.380 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.880 |
35.680 |
43.150 |
|
(e) Other Non-current
assets |
0.500 |
5.800 |
0.290 |
|
Total Non-Current Assets |
842.110 |
929.600 |
722.390 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
323.440 |
210.740 |
181.520 |
|
(c) Trade receivables |
722.450 |
890.220 |
847.710 |
|
(d) Cash and cash
equivalents |
64.100 |
43.090 |
32.570 |
|
(e) Short-term loans and
advances |
73.620 |
125.140 |
124.870 |
|
(f) Other current assets |
1.430 |
0.660 |
2.880 |
|
Total Current Assets |
1185.040 |
1269.850 |
1189.550 |
|
|
|
|
|
|
TOTAL |
2027.150 |
2199.450 |
1911.940 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2952.360 |
2021.920 |
2070.550 |
|
|
Other Income |
53.880 |
14.750 |
8.600 |
|
|
TOTAL |
3006.240 |
2036.670 |
2079.150 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2050.560 |
1470.760 |
1280.330 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
45.230 |
233.090 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
13.660 |
(36.620) |
43.920 |
|
|
Employees benefits
expense |
85.770 |
74.110 |
65.750 |
|
|
CSR
expenditure |
1.000 |
2.000 |
2.100 |
|
|
Other expenses |
388.270 |
281.080 |
242.330 |
|
|
TOTAL |
2539.260 |
1836.560 |
1867.520 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
466.980 |
200.110 |
211.630 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
13.620 |
46.850 |
41.250 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
453.360 |
153.260 |
170.380 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
190.870 |
120.830 |
109.260 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
262.490 |
32.430 |
61.120 |
|
|
|
|
|
|
|
Less |
TAX |
91.700 |
0.420 |
18.850 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
170.790 |
32.010 |
42.270 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1222.920 |
836.550 |
59.990 |
|
|
TOTAL EARNINGS |
1222.920 |
836.550 |
59.990 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1995.430 |
1443.260 |
1386.230 |
|
|
Components and Stores
parts |
28.720 |
19.100 |
13.010 |
|
|
Capital Goods |
130.370 |
300.490 |
17.640 |
|
|
TOTAL IMPORTS |
2154.520 |
1762.850 |
1416.880 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
11.82 |
2.22 |
3.43 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
55.170 |
162.880 |
111.990 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
701.520 |
85.310 |
126.060 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
643.570 |
79.400 |
113.130 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
89.32 |
160.70 |
149.44 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.09 |
2.27 |
2.44 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
93.26 |
97.30 |
98.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.44 |
0.95 |
1.17 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.56 |
0.23 |
0.31 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.41 |
0.59 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.18 |
0.69 |
0.69 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.55 |
0.93 |
1.09 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.72 |
0.89 |
0.82 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
34.29 |
4.27 |
5.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
5.78 |
1.58 |
2.04 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.43 |
1.46 |
2.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
14.57 |
3.20 |
5.08 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.83 |
1.36 |
1.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.33 |
1.14 |
1.11 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.58 |
0.46 |
0.43 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.45 |
4.80 |
4.65 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.83 |
1.36 |
1.31 |
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 |
123.080 |
144.510 |
144.510 |
|
Reserves & Surplus |
708.560 |
856.570 |
1027.360 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
831.640 |
1001.080 |
1171.870 |
|
|
|
|
|
|
Long Term borrowings |
100.460 |
197.780 |
137.670 |
|
Short Term borrowings |
359.610 |
332.480 |
16.600 |
|
Current Maturities of Long term debt |
111.990 |
162.880 |
55.170 |
|
Total
borrowings |
572.060 |
693.140 |
209.440 |
|
Debt/Equity
ratio |
0.688 |
0.692 |
0.179 |
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
|
2070.550 |
2021.920 |
2952.360 |
|
|
|
(2.349) |
46.018 |
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
|
2070.550 |
2021.920 |
2952.360 |
|
Profit |
42.270 |
32.010 |
170.790 |
|
|
2.04% |
1.58% |
5.78% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
NATURE OF OPERATIONS
Subject is predominantly engaged in the manufacturing and selling of Optical Fibre and allied products.
GENERAL AND CORPORATE MATTERS
During the FY 2016-17, the Company accomplished robust growth and substantial swing in its performance as compared to the previous year. The Directors are pleased to report that turnover of the Company during the year was INR 3172.180 Million and it has earned a net profit of INR 170.790 Million as against the turnover of INR 2,166.440 Million and a net profit of INR 32.010 Million, achieved during the previous financial year, which is an exemplary year-over-year growth. During the year, the Company registered a voluminous increase of 46% of gross turnover as compared to the previous year and there was a substantial swerve in the net profit, which escalated by 433%.
The change of fortune in the Company has been primarily due to the strategic positioning of the Company in the market. The Company continues to benefit from its strong marketing setup and continued support from Furukawa Electric Co., Limited, Japan. The Company is also constantly acclimatizing itself to the varying industrial atmosphere so as to widen its existing basket of a gamut of products. With the Government's ambitious project of "Digitalization" and "Make in India", the Company shall continue to reap in benefits which are applicable to a domestic producer.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Foreign currency term loans from banks |
137.670 |
197.780 |
|
Total |
137.670 |
197.780 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B10887032 |
10281000 |
STATE BANK OF
INDIA |
29/03/2011 |
- |
- |
352000000.0 |
CORPORATE ACCOUNTS
GROUP BRANCHNEVILLE HOUSE, J. N. HEREDIA MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
2 |
B93699239 |
10257104 |
THE BANK OF TOKYO
MITSUBISHI UFJ LTD |
21/12/2010 |
19/12/2013 |
- |
158976000.0 |
MUMBAI BRANCH,
HOECHST HOUSE, 15 FLOOR, 193, VINAYK SHAH MARG, NARIMAN POINTMUMBAIMH400021IN |
|
3 |
B94241254 |
10251470 |
MIZUHO BANK
LIMITED (FORMERLY KNOWN AS MIZUHO CORPORATE BANK LTD) |
19/11/2010 |
17/12/2013 |
- |
201657600.0 |
MUMBAI BRANCH,
MAKER CHAMBER III, 1ST FLOOR,JAMNALAL BAJAJ ROAD, NARIMAN
POINTMUMBAIMH400021IN |
|
4 |
G48327290 |
10529716 |
THE BANK OF TOKYO
MITSUBISHI UFJ LTD |
10/11/2014 |
- |
16/06/2017 |
306177500.0 |
MUMBAI BRANCH,
HOECHST HOUSE, 15TH FLOOR,193, VINAY K SHAH MARG, NARIMAN
POINTMUMBAIMH400021IN |
|
5 |
B86369139 |
10379153 |
THE BANK OF
TOKYO-MITSUBISHI UFJ LTD |
12/09/2012 |
- |
20/09/2013 |
22500000.0 |
MUMBAI BRANCH,
HOECHST HOUSE, 15TH FLOOR193 VINAY K. SHAH MARG, NARIMAN
POINTMUMBAIMH400021IN |
CONTINGENT LIABILITIES (AS ON 31.03.2017):
Demand raised by Goa Industrial Development Corporation (GIDC) in respect of certain premises taken on sub-lease by the Company from a sister concern, which as per operating lease terms is reimbursable by the Company to the said sister concern upon crystallisation of liability - INR 3.060 million (INR 3.060 million). The demand has been suitably contested on merit by the said sister concern and the Company does not expect any reimbursement in respect of the above contingent liability.
FIXED ASSETS:
Tangible assets
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Leasehold improvements
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 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 65.78 |
|
|
1 |
INR 93.42 |
|
Euro |
1 |
INR 81.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KVT |
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.