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MIRA INFORM REPORT
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Report No. : |
504653 |
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Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
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Name : |
NEXION INTERNATIONAL PRIVATE LIMITED [w.e.f. 19.12.2016] |
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Formerly Known
As : |
SIMPOLO EMILCERAMICA PRIVATE LIMITED [w.e.f. 22.07.2015] SIMPOLO TILES PRIVATE LIMITED |
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Registered
Office : |
Office No. 1102, 1104 and 1105, Shapath V, Opposite Karnavati Club, S. G. Highway, Ahmedabad – 380051, Gujarat |
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Tel No.: |
91-79-66168422 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
24.12.2014 |
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Com. Reg. No.: |
04-081644 |
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Capital
Investment / Paid-up Capital : |
INR 200.616 Million |
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CIN No.: [Company Identification
No.] |
U26933GJ2014PTC081644 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
24AAVCS2567C1Z5 |
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TIN No.: |
24092010464 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAVCS2567C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Marketing of Vitrified Tiles, Natural and
Artificial Marbles and Other Ceramic Products. [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)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2014. It is a (50:50) joint venture between Simpolo Vitrified Private Limited and Ceramiche Speranza S.P.A. The company is a manufacture of vitrified tiles, natural and artificial marbles and other ceramic products. As per the financial of 2017, the company has achieved sales turnover of INR 368 million but has incurred operational losses. The company possesses satisfactory financial position marked by above average net worth base along with acceptable debt level. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 19.04.2018.
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
[Contact No: 91-7069071188/ 7069071159]
[91-79-66168422
is continuously ringing]
LOCATIONS
|
Registered Office : |
Office No. 1102, 1104 and 1105, Shapath V Opposite Karnavati Club, S. G. Highway, Ahmedabad – 380051, Gujarat, India |
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Tel. No.: |
91-79-66168422 |
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Mobile No.: |
91-7069071188/ 7069071159 [Office] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Production &
Logistics : |
Survey No, 171 P, Unchi Mandal Morbi Halvad Highway, Morbi – 363642, Gujarat, India |
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Tel. No.: |
91-2822-293722/ 293822 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Jitendra Thakershibhai Aghara |
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Designation : |
Managing Director |
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Address : |
'Sneh-Milan', Somnath Society, Near. Prannagar, Ravapar Road, (District Rajkot), Morbi – 363641, Gujarat, India |
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Date of Birth/Age : |
28.08.1969 |
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Qualification : |
Graduate |
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Date of Appointment : |
24.12.2014 |
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PAN No.: |
ABQPA8653E |
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DIN No.: |
00211915 |
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Name : |
Mr. Dhirajlal Thobhanbhai Aghara |
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Designation : |
Director |
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Address : |
Shrimadd Society PPW Road, Morbi - 363642, Gujarat, India |
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Date of Birth/Age : |
02.11.1977 |
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Date of Appointment : |
24.12.2014 |
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DIN No.: |
01642981 |
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Name : |
Mr. Bharat Thakershibhai Aghara |
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Designation : |
Director |
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Address : |
Sneh Milan Somnath Society, Ravapar Road, Morbi – 363641, Gujarat, India |
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Date of Birth/Age : |
13.05.1979 |
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Qualification : |
Graduate |
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Date of Appointment : |
24.12.2014 |
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PAN No.: |
ABQPA8651G |
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DIN No.: |
01920820 |
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Name : |
Mr. Sergio Sassi |
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Designation : |
Director |
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Address : |
Sassuolo (Mo) Via, Dello Zodiaco N. 4/4 Italy 0000000000 IT |
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Date of Appointment : |
16.07.2015 |
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DIN No.: |
06960219 |
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Name : |
Mr. Villiam Tioli |
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Designation : |
Director |
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Address : |
Viale Muratori, 20 Modena 41124 IT |
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Date of Appointment : |
16.07.2015 |
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DIN No.: |
07085488 |
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Name : |
Luca Majocchi |
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Designation : |
Director |
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Address : |
Modena Viale Lodovico Antonio, 277S, BI30 Muratori 0000000000 IT |
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Date of Birth/Age : |
24.05.1959 |
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Date of Appointment : |
26.09.2016 |
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DIN No.: |
06960203 |
KEY EXECUTIVES
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Name : |
Mr. Jagdish Ghanshyam Sonagra |
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Designation : |
Company Secretary |
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Address : |
1427, Gopalnagar, Village: Charadva Taluka Halvad, Morbi – 363330, Gujarat, India |
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Date of Appointment : |
26.09.2016 |
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PAN No.: |
EHDPS0397Q |
MAJOR SHAREHOLDERS
AS ON 29.09.2017
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Names of Shareholders |
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No. of Shares |
|
Simpolo Vitrified Private Limited |
|
10030788 |
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Jitendra Aghara As a nominee of Simpolo Vitrified Private Limited |
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1 |
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Ceramiche Speranza S.P.A. (Formerly known as Emilceramica S.p.A) |
|
10030789 |
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Total |
|
20061578 |
AS ON 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters – Body Corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Marketing of Vitrified Tiles, Natural
and Artificial Marbles and Other Ceramic Products. [Registered Activity] |
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Products/ Services : |
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Brand Names : |
“NEXION” |
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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 : |
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 : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai – 400013, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Chandulal M. Shah and Company Chartered Accountants |
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Address : |
601 Samruddhi, Near Sattar Taluka Society, Opposite Gujarat High Court, Opposite Sakar – III, Ahmedabad – 380014, Gujarat, India |
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PAN No.: |
AAAFC6603M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Sims Ceramic Private Limited, India [U26933GJ2010PTC063189] · Simpolo Ceramics · Mactus Mineral LLP · Meracus Mineral LLP · Sahara International · Metrix Ceramics |
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Associate Companies: |
· Simpolo Vitrified Private Limited, India [U26914GJ2007PTC051766] · Ceramiche Speranza S.P.A. · Silvenia Cermaics Private Limited, India [U26914GJ2003PTC042582] |
CAPITAL STRUCTURE
AFTER 29.09.2017
Authorised Capital : INR
230.000 Million
Issued, Subscribed & Paid-up Capital : INR 216.616 Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23000000 |
Equity Shares |
INR 10/- each |
INR 230.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
20061578 |
Equity Shares |
INR 10/- each |
INR 200.616 Million |
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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 |
|
|
|
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(a) Share Capital |
200.616 |
152.616 |
60.000 |
|
(b) Reserves and Surplus |
389.922 |
337.986 |
(0.939) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
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|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
590.538 |
490.602 |
59.061 |
|
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(3)
Non-Current Liabilities |
|
|
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|
(a) long-term borrowings |
465.341 |
159.237 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
404.823 |
444.771 |
0.000 |
|
(d) long-term
provisions |
0.966 |
0.021 |
0.000 |
|
Total Non-current
Liabilities (3) |
871.130 |
604.029 |
0.000 |
|
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|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
176.443 |
0.000 |
0.000 |
|
(b) Trade
payables |
161.909 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
318.839 |
238.016 |
0.000 |
|
(d) Short-term
provisions |
35.051 |
0.172 |
0.000 |
|
Total Current
Liabilities (4) |
692.242 |
238.188 |
0.000 |
|
|
|
|
|
|
TOTAL |
2153.910 |
1332.819 |
59.061 |
|
|
|
|
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|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1521.079 |
38.928 |
31.188 |
|
(ii)
Intangible Assets |
0.641 |
0.047 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.208 |
1194.819 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.131 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
2.167 |
4.028 |
0.000 |
|
Total Non-Current
Assets |
1524.095 |
1237.953 |
31.188 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
459.186 |
8.859 |
0.000 |
|
(c) Trade receivables |
79.175 |
0.793 |
0.000 |
|
(d) Cash and
bank balances |
27.675 |
47.897 |
27.873 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
63.779 |
37.317 |
0.000 |
|
Total
Current Assets |
629.815 |
94.866 |
27.873 |
|
|
|
|
|
|
TOTAL |
2153.910 |
1332.819 |
59.061 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
268.096 |
0.001 |
0.000 |
|
|
Other Income |
2.848 |
5.792 |
0.000 |
|
|
TOTAL |
270.944 |
5.793 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
204.708 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
1.865 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(323.655) |
0.000 |
0.000 |
|
|
Employee benefit expense |
80.410 |
2.023 |
0.000 |
|
|
Other expenses |
357.851 |
8.453 |
0.939 |
|
|
TOTAL |
321.179 |
10.476 |
0.939 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(50.235) |
(4.683) |
(0.939) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
42.310 |
0.401 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(92.545) |
(5.084) |
(0.939) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
107.388 |
0.216 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(199.933) |
(5.300) |
(0.939) |
|
|
|
|
|
|
|
Less |
TAX |
0.131 |
1.719 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(200.064) |
(7.019) |
(0.939) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(12.78) |
(1.59) |
(0.60) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
239.215 |
6.959 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(411.287) |
592.798 |
(0.939) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(411.460) |
592.798 |
(0.939) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
107.79 |
289445.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.39 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
286.08 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.11) |
(0.53) |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.03) |
0.00 |
(0.03) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.65 |
0.30 |
0.00 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.49 |
0.34 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.17 |
0.49 |
0.00 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.58 |
2.51 |
0.53 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(1.19) |
(11.68) |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(74.62) |
(701900.00) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(9.29) |
(0.53) |
(1.59) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(33.88) |
(1.43) |
(1.59) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.91 |
0.40 |
0.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.25 |
0.36 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.27 |
0.37 |
1.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.39 |
1.09 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.91 |
0.40 |
0.00 |
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 |
60.000 |
152.616 |
200.616 |
|
Reserves & Surplus |
(0.939) |
337.986 |
389.922 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
59.061 |
490.602 |
590.538 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
159.237 |
465.341 |
|
Short term borrowings |
0.000 |
0.000 |
176.443 |
|
Current maturities of
long-term debts |
0.000 |
6.959 |
239.215 |
|
Total
borrowings |
0.000 |
166.196 |
880.999 |
|
Debt/Equity
ratio |
0.000 |
0.339 |
1.492 |
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 |
0.000 |
0.001 |
268.096 |
|
|
|
|
26809500.000 |
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 |
0.000 |
0.001 |
268.096 |
|
Profit/ (Loss) |
(0.939) |
(7.019) |
(200.064) |
|
|
|
(701900.00
%) |
(74.62
%) |
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C80235971 |
10614709 |
HDFC BANK LIMITED |
17/12/2015 |
09/02/2016 |
- |
1516000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
NATURE OF OPERATIONS
Subject (“the Company”) is engaged in Manufacturing and Marketing of vitrified tiles, natural and artificial marbles and other ceramic products.
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Vehicle
· Plant and Equipment
· Office Equipment
· Furniture and Fixture
· Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.68 |
|
UK Pound |
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
IND |
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.