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|
|
MIRA INFORM REPORT
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Report No. : |
504022 |
|
Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
LOXIM INDUSTRIES LIMITED (w.e.f. 15.04.2008) |
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|
Formerly Known
As : |
LOXIM INDUSTRIES PRIVATE LIMITED (w.e.f. 30.08.2006) LOXIM COLORS PRIVATE LIMITED |
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Registered
Office : |
803, Shilp Building, C.G. Road, Navrangpura, Ahmedabad – 380009,
Gujarat |
|
Tel. No.: |
91-79-30800000 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.08.2003 |
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Com. Reg. No.: |
04-042820 |
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Capital
Investment / Paid-up Capital : |
INR 73.580 Million |
|
|
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|
CIN No.: [Company Identification
No.] |
U24114GJ2003PLC042820 |
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IEC No.: [Import-Export Code No.] |
0805017135 |
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TIN No.: |
24073404557 |
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GSTN : [Goods & Service Tax
Registration No.] |
24AAACL9043M1ZB |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACL9043M |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Chemical Dyestuff and Plastic Granules. [Registered Activity] |
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No. of Employees
: |
Information declined 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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject
was incorporated in the year 2003 and it is a manufacturer and exporter of
chemical dyestuff and plastic granules. As per
financials of March 2017, the company has registered a growth of 4.93% in its
revenue as compared to its previous year’s revenue and has reported good
profit margin of 8.19%. Rating
takes into consideration the company’s satisfactory track record of business
operations marked by sound net worth base along with comfortable debt
coverage indicators and good liquidity position. Rating
also takes into account the experienced and resourceful promoters, presence
in diverse businesses and long standing relationship with reputed domestic
and overseas clientele. Further,
the company has reported a good Earnings Per Share of INR 15.23 against its face
value of INR 10. However,
rating strength is partially offset by its presence in highly competitive and
cyclical dyes industry, its working capital intensive nature of operations
and susceptibility of its profitability to volatility in raw material prices
and foreign exchange rates. Payments
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
29.03.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
29.03.2018 |
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
31-03-2016.
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 18.04.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-2717-616929]
Given number [91-2717-308000] not working
LOCATIONS
|
Registered Office/ Head
Office and SBU - Dyes : |
803, Shilp Building, C.G. Road, Navrangpura, Ahmedabad – 380009,
Gujarat, India |
|
Tel. No.: |
91-79-30800000/ 26404727 |
|
Fax No.: |
91-79-26467488/ 30800001 |
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E-Mail : |
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Website : |
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SBU – Polymers/
Unit I : |
Plot No. 184/185-2, Sanand-Viramgam Highway, Iyava Village,
Sanand, District Ahmedabad – 382110, Gujarat, India |
|
Tel. No.: |
91-2717-616900/ 616929 |
|
Fax No.: |
91-2717-308001 |
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E-Mail : |
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|
|
|
|
Unit II: |
Plot No.105/ 109-A, ECPL Road, Village Ekalbara, Padra, District Vadodara – 391440, Gujarat, India |
|
Tel. No.: |
91-2662-308000 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Jayprakash Maneklal Patel |
|
Designation : |
Whole-time Director |
|
Address : |
Anik 13, Kairvi Bunglow, Vastrapur, Ahmedabad – 380054, Gujarat, India
|
|
Date of Birth/Age : |
09.02.1948 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
ABCPP1959N |
|
Qualification |
Chemical Engineer |
|
DIN No.: |
00256790 |
|
|
|
|
Name : |
Mr. Canon Jayprakash Patel |
|
Designation : |
Managing Director |
|
Address : |
Anik 13, Kairvi Bunglow, Vastrapur, Ahmedabad – 380054, Gujarat, India
|
|
Date of Birth/Age : |
06.11.1974 |
|
Date of Appointment : |
01.04.2012 |
|
Qualification |
MBA |
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PAN No.: |
AAWPP0924A |
|
DIN No.: |
00078065 |
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|
|
|
Name : |
Ms. Falguni Canon Patel |
|
Designation : |
Director |
|
Address : |
Anik 13, Kairvi Bunglow, Vastrapur, Ahmedabad – 380054, Gujarat, India
|
|
Date of Birth/Age : |
20.06.1978 |
|
Date of Appointment : |
29.09.2008 |
|
PAN No.: |
ACOPS3488J |
|
Qualification |
B.com |
|
DIN No.: |
00078102 |
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|
|
|
Name : |
Mr. Jayesh Pravinchandra Mehta |
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Designation : |
Additional Director |
|
Address : |
C/33, Satellite Apartments, Satelite Road, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
18.08.1967 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
02140233 |
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|
|
|
Name : |
Mr. Rahul Jitendrakumar Shah |
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Designation : |
Additional Director |
|
Address : |
258, Archna Bunglow, Opposite Swaminarayan Gurukul, Memnagar, Ahmedabad – 380052, Gujarat, India |
|
Date of Appointment : |
16.03.2015 |
|
DIN No.: |
00825780 |
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|
|
|
Name : |
Mr. Sunil Bansibhai Shah |
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Designation : |
Additional Director |
|
Address : |
A-301 Sepal Residency Opposite A-One
School, Opposite Ashwamegh 5 Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
16.03.2015 |
|
DIN No.: |
02107662 |
|
|
|
|
Name : |
Mr. Adityabhai Piyushbhai Shah |
|
Designation : |
Additional Director |
|
Address : |
A-1103, Heritage Skyz, Satellite, Ahmedabad
– 380015, Gujarat, India |
|
Date of Appointment : |
16.03.2015 |
|
DIN No.: |
03203052 |
KEY EXECUTIVES
|
Name : |
Mrs. Purvi Shashikant Shah |
|
Designation : |
Company Secretary |
|
Address : |
12/C, Jay Yogeshwar Apartment, Kumbhnath Society, Maninagar Ahmedabad-380008, Gujarat, India |
|
Date of Appointment : |
01.04.2016 |
|
PAN No.: |
BBZPS2597D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Canon Patel |
|
2464730 |
|
Falguni Patel |
|
1214070 |
|
Jayprakash Patel |
|
2464730 |
|
Hina Patel |
|
1214070 |
|
Surendra Patel |
|
100 |
|
Dinesh Chandra Patel |
|
100 |
|
Girish Shah |
|
100 |
|
Jayesh Mehta |
|
100 |
|
Total |
|
7358000 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
99.99 |
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemical Dyestuff and Plastic Granules. [Registered Activity] |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Citibank N.A. Ground Floor, Rembrandt, C. G. Road, Mr. Panchavati Circle, Ahmedabad - 380006, Gujarat, India · Kotak Mahindra Bank Limited · ICICI Bank Limited · Axis Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
Dharmesh Parikh and Company Chartered Accountants |
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Address : |
303 / 304, "Milestone", Near Drive - in - Cinema, Opposite T.V. Tower, Thaltej, Ahmedabad – 380054, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAGFD1279G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate Company: |
· DYE-O-PRINT(GUJ) Private Limited [U24231GJ1984PTC006946] · Sunil Sandeep and Company |
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Subsidiary Company: |
Loxim Europe GmbH |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7358000 |
Equity Shares |
INR 10/- each |
INR 73.580
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
73.580 |
73.580 |
73.580 |
|
(b) Reserves and Surplus |
455.071 |
343.033 |
266.327 |
|
(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) |
528.651 |
416.613 |
339.907 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
94.016 |
126.086 |
139.450 |
|
(b) Deferred tax liabilities (Net) |
31.032 |
25.880 |
31.313 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.501 |
2.890 |
1.776 |
|
Total Non-current
Liabilities (3) |
128.549 |
154.856 |
172.539 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
298.077 |
292.171 |
370.858 |
|
(b) Trade
payables |
152.361 |
177.531 |
148.634 |
|
(c) Other
current liabilities |
100.955 |
54.443 |
25.037 |
|
(d) Short-term
provisions |
10.621 |
3.588 |
7.183 |
|
Total Current
Liabilities (4) |
562.014 |
527.733 |
551.712 |
|
|
|
|
|
|
TOTAL |
1219.214 |
1099.202 |
1064.158 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
324.740 |
236.994 |
252.608 |
|
(ii)
Intangible Assets |
0.032 |
0.000 |
0.029 |
|
(iii) Tangible assets capital
work-in-progress |
0.000 |
69.513 |
0.000 |
|
(iv)
Intangible assets under development |
4.454 |
3.600 |
0.000 |
|
(b) Non-current Investments |
3.013 |
3.013 |
0.001 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
15.760 |
8.733 |
7.425 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
347.999 |
321.853 |
260.063 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
260.816 |
243.908 |
249.959 |
|
(c) Trade
receivables |
501.954 |
476.673 |
491.890 |
|
(d) Cash and
bank balances |
62.257 |
32.421 |
31.890 |
|
(e)
Short-term loans and advances |
42.591 |
21.460 |
28.393 |
|
(f) Other
current assets |
3.597 |
2.887 |
1.963 |
|
Total
Current Assets |
871.215 |
777.349 |
804.095 |
|
|
|
|
|
|
TOTAL |
1219.214 |
1099.202 |
1064.158 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
1367.222 |
1302.938 |
1227.296 |
|
|
Other Income |
10.838 |
19.709 |
10.314 |
|
|
TOTAL |
1378.060 |
1322.647 |
1237.610 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
702.766 |
803.970 |
756.875 |
|
|
Purchases of
Stock-in-Trade |
21.987 |
9.895 |
4.081 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
7.425 |
(23.411) |
(23.060) |
|
|
Employee benefit expense |
159.782 |
114.054 |
61.765 |
|
|
CSR expenditure |
0.916 |
0.500 |
0.713 |
|
|
Other expenses |
226.594 |
208.178 |
175.787 |
|
|
TOTAL |
1119.470 |
1113.186 |
976.161 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
258.590 |
209.461 |
261.449 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
42.819 |
61.366 |
73.368 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
215.771 |
148.095 |
188.081 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
32.460 |
26.869 |
28.492 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
183.311 |
121.226 |
159.589 |
|
|
|
|
|
|
|
Less |
TAX |
71.273 |
44.520 |
54.188 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
112.038 |
76.706 |
105.401 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
926.797 |
786.340 |
718.178 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
336.095 |
363.409 |
421.646 |
|
|
Components and spare
parts |
2.061 |
0.595 |
2.012 |
|
|
TOTAL IMPORTS |
338.156 |
364.005 |
423.658 |
|
|
|
|
|
|
|
|
Earnings Per Share (INR) |
15.23 |
10.42 |
14.32 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
5.945 |
8.189 |
6.689 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
216.069 |
295.629 |
196.178 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
155.467 |
238.503 |
160.007 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
134.00 |
133.53 |
146.29 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.72 |
2.73 |
2.50 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
76.73 |
79.62 |
71.29 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.99 |
0.86 |
1.05 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.79 |
0.68 |
1.03 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.60 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.75 |
1.02 |
1.52 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.06 |
1.27 |
1.62 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.62 |
0.74 |
0.74 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
6.04 |
3.41 |
3.56 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
8.19 |
5.89 |
8.59 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.19 |
6.98 |
9.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
21.19 |
18.41 |
31.01 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.55 |
1.47 |
1.46 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.09 |
1.01 |
1.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.43 |
0.38 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.41 |
5.80 |
7.03 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.55 |
1.47 |
1.46 |
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 |
73.580 |
73.580 |
73.580 |
|
Reserves & Surplus |
266.327 |
343.033 |
455.071 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
339.907 |
416.613 |
528.651 |
|
|
|
|
|
|
Long-term borrowings |
139.450 |
126.086 |
94.016 |
|
Short term borrowings |
370.858 |
292.171 |
298.077 |
|
Current maturities of
long-term debts |
6.689 |
8.189 |
5.945 |
|
Total
borrowings |
516.997 |
426.446 |
398.038 |
|
Debt/Equity
ratio |
1.521 |
1.024 |
0.753 |
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 |
1227.296 |
1302.938 |
1367.222 |
|
|
|
6.163 |
4.934 |
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 |
1227.296 |
1302.938 |
1367.222 |
|
Profit |
105.401 |
76.706 |
112.038 |
|
|
8.59
% |
5.89
% |
8.19
% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
73.580 |
73.580 |
|
(b) Reserves and Surplus |
|
438.810 |
342.900 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Minority interest |
|
0.000 |
0.753 |
|
|
|
|
|
|
Total
Shareholders’ Funds (1) + (2) |
|
512.390 |
417.233 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
94.016 |
126.086 |
|
(b) Deferred tax liabilities (Net) |
|
31.032 |
26.004 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
3.501 |
2.890 |
|
Total Non-current
Liabilities (3) |
|
128.549 |
154.980 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
301.544 |
292.171 |
|
(b) Trade
payables |
|
152.377 |
177.531 |
|
(c) Other
current liabilities |
|
103.561 |
54.442 |
|
(d) Short-term
provisions |
|
10.621 |
3.588 |
|
Total Current
Liabilities (4) |
|
568.103 |
527.732 |
|
|
|
|
|
|
TOTAL |
|
1209.042 |
1099.945 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
324.960 |
236.994 |
|
(ii)
Intangible Assets |
|
0.032 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
69.513 |
|
(iv)
Intangible assets under development |
|
4.454 |
3.600 |
|
(b) Non-current Investments |
|
0.001 |
0.001 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
5.511 |
8.733 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
334.958 |
318.841 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
260.816 |
243.908 |
|
(c) Trade
receivables |
|
501.522 |
476.673 |
|
(d) Cash and
bank balances |
|
63.197 |
36.175 |
|
(e)
Short-term loans and advances |
|
45.348 |
21.460 |
|
(f) Other
current assets |
|
3.201 |
2.888 |
|
Total
Current Assets |
|
874.084 |
781.104 |
|
|
|
|
|
|
TOTAL |
|
1209.042 |
1099.945 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
1371.853 |
1302.938 |
|
|
Other Income |
|
11.193 |
19.709 |
|
|
TOTAL |
|
1383.046 |
1322.647 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
702.766 |
803.970 |
|
|
Purchases of
Stock-in-Trade |
|
26.273 |
9.895 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
7.425 |
(23.411) |
|
|
Employee benefit expense |
|
170.687 |
114.054 |
|
|
CSR expenditure |
|
0.916 |
0.500 |
|
|
Other expenses |
|
233.645 |
208.178 |
|
|
TOTAL |
|
1141.712 |
1113.186 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
241.334 |
209.461 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
42.885 |
61.366 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
198.449 |
148.095 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
32.538 |
26.869 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
|
165.911 |
121.226 |
|
|
|
|
|
|
|
Less |
TAX |
|
71.150 |
44.644 |
|
|
|
|
|
|
|
|
Minority Interest |
|
3.401 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
98.162 |
76.582 |
|
|
|
|
|
|
|
|
Earnings Per Share (INR) |
|
13.34 |
10.41 |
LOCAL AGENCY FURTHER INFORMATION
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G04377826 |
100028891 |
KOTAK MAHINDRA BANK
LIMITED |
18/03/2016 |
- |
- |
650000.0 |
27BKC, C 27, G BLOCKBANDRA
KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
2 |
C16643991 |
10515266 |
ICICI BANK LIMITED |
26/06/2014 |
- |
- |
9500000.0 |
LANDMARKRACE COURCE
CIRCLEALKAPURIBARODAGJ390015IN |
|
3 |
B77531515 |
10432133 |
AXIS BANK LIMITED |
06/06/2013 |
- |
- |
685335.0 |
RAC AHMEDABAD, CV/
CE DEPARTMENT, 4TH FLOORSHIVALIK ISHAN, NR. C. N. VIDHYALAYA,
AMBAWADIAHMEDABADGJ380006IN |
|
4 |
C49944226 |
10369847 |
STATE BANK OF INDIA |
16/06/2012 |
16/03/2015 |
- |
350000000.0 |
C/1-5, ADVANCE BUSINESS
PARK,OPP. SWAMINARAYAN TEMPLE, SHAHIBAUG,AHMEDABADGJ380004IN |
|
5 |
G02674042 |
10246970 |
KOTAK MAHINDRA BANK
LIMITED |
22/10/2010 |
05/08/2015 |
- |
325000000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
6 |
C77266757 |
10246892 |
KOTAK MAHINDRA BANK
LIMITED |
08/09/2010 |
29/12/2015 |
- |
325000000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN |
|
7 |
C40633810 |
10128031 |
AXIS BANK LIMITED |
23/09/2008 |
13/01/2015 |
- |
211900000.0 |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
8 |
C20804670 |
10152242 |
AXIS BANK LIMITED |
18/02/2008 |
25/08/2014 |
- |
211900000.0 |
TRISHUL 3RD FLOOR OPP
SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
9 |
G01185057 |
10442999 |
AXIS BANK LIMITED |
07/08/2013 |
- |
08/04/2016 |
10000000.0 |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
10 |
A96526363 |
10028370 |
CITIBANK N. A. |
30/11/2006 |
- |
14/10/2010 |
32000000.0 |
GROUND FLOOR,
REMBRANDTC. G. ROAD, NEAR PANCHAVATI |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
50.000 |
77.500 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from directors |
30.538 |
41.184 |
|
Total |
80.538 |
118.684 |
CHANGE OF ADDRESS:
Registered address of the company has been
shifted from 802 Shilp Building Cgroad Navrangpura, Ahmedabad - 380009,
Gujarat, India to the present address w.e.f. 02.04.2007.
CORPORATE INFORMATION
The company was incorporated in 2003 and converted into Loxim Industries Limited in 2007. Presently, the company has two manufacturing units. The dyestuff unit, located at Padra (Gujarat) which is a 100% Export Oriented Unit(EOU) and other at Sanand (Gujarat). The polymer and optical brightener units are located at Sanand (Gujarat).
OPERATIONS
The total income of the Company was INR 1378.060 million, as compared to last year's income of INR 1322.646 Lacs, which shows increase of more than 4.21% over last year. Profit before depreciation and interest stood at INR 258.591 million as against last year of INR 209.461 million. The Net profit after tax stood at INR 112.038 million as compared to last year's of INR 76.706 million. Overall the performance of the Company is good, considering the general market scenario in India as well as other parts of the world.
FIXED ASSETS:
·
Land
·
Buildings
·
Factory building
·
Plant and equipment
·
Factory equipment’s
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipment’s
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 65.61 |
|
UK Pound |
1 |
INR 94.21 |
|
Euro |
1 |
INR 81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHK |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.