|
|
|
MIRA INFORM REPORT
|
Report No. : |
503929 |
|
Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAVORIT LIMITED |
|
|
|
|
Registered
Office : |
Door No. 6, Suryanarayana Street, Tollgate, Chennai –
600081, Tamilnadu |
|
Tel. No.: |
91-44-25912672 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
30.03.1960 |
|
|
|
|
Com. Reg. No.: |
18-004108 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 50.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15314TN1960PLC004108 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0488008824 |
|
|
|
|
TIN / CST No.: |
33981200073 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
33AAACS9903R1ZU |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS9903R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
·
Wholesale trade services of wheat, wheat
products, Macaroni, noodles and similar products. ·
Manufacturer and trader of wheat, wheat
products and pasta 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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 330000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1960 and it is engaged as sale of wheat, wheat products and pasta. For the financial year 2017, the company has reported a marginal
decline in its revenue as compared to its previous year along with low profit
margin during the year. However, the company possesses above average financial risk profile
marked by acceptable networth base and fair cash accruals. Rating continue to derive strength from its long and established track
record of its business operations backed by its well-experienced management
team. However, these rating strengths gets partially offset by excess of
borrowing recorded by the company and its presence in highly fragmented
retail consumer industry. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealing at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
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
31-03-2018.
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 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 DENIED BY
|
Name : |
Mr. Saravanan |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-8012534543 |
|
Date : |
18.04.2018 |
91-451-2411055 - Continuously Ringing
91-451-2411052 / 53 / 54 – Number does not exist
LOCATIONS
|
Registered Office : |
New No.22, North Terminus Road, Tollgate, Chennai – 600081, Tamilnadu,
India |
|
Tel. No.: |
91-451-2411055 |
|
Mobile No.: |
91-8012534543 [Mr. Saravanan] |
|
Fax No.: |
91-451-2411053 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Unit : |
131, Trichy Road, Dindigul – 624005, Tamilnadu, India |
|
Tel. No.: |
91-451-2411055 |
|
Fax No.: |
91-451-2411053 |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Kolur Sreenivasan Venugopal |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
Flat 9-D Tower, Three B, Ranimeyyammai Towers, Rajaanna Malai Puram,
Chennai – 600028, Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
20.10.1948 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
01.04.1986 |
||||||||||||||||
|
DIN No.: |
00707454
|
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Dhanalakshmi Venugopaal |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Flat 9-D Tower, Three B, Ranimeyyammai Towers, Rajaanna Malai Puram,
Chennai – 600028, Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
29.06.1958 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
06.10.2014 |
||||||||||||||||
|
DIN No.: |
02524422
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Murugesan Perisamy |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
New No. 18, Gandhiji Lane, Dr. Radhakrishna Nagar, Chennai – 600019,
Tamilnadu , India |
||||||||||||||||
|
Date of Birth/Age : |
15.09.1959 |
||||||||||||||||
|
Qualification : |
H.S.C. |
||||||||||||||||
|
Date of Appointment : |
18.09.2000 |
||||||||||||||||
|
DIN No.: |
01757057
|
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Karpundi Narasingarao Ramanathan |
||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||
|
Address : |
C/o United India Foods, 131 Trichy Road, Aindigul,
Anna District – 624005, Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
14.09.1939 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
26.09.2009 |
||||||||||||||||
|
DIN No.: |
02524417
|
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Ponraj Jeganathan |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
No. 15, Reddy Street, Virugambakkam, Chennai – 600092, Tamilnadu,
India |
||||||||||||||||
|
Date of Birth/Age : |
07.06.1965 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
04.02.2011 |
||||||||||||||||
|
DIN No.: |
03494642
|
||||||||||||||||
KEY EXECUTIVES
|
Name : |
Rajamanickam Thyagarajan |
|
Designation : |
Company Secretary |
|
Address : |
C-3, Green Town Apartments, 33A, Reddy Kuppam Road Near Aranganathan Subway, West Mambalam, Chennai – 600033, Tamilnadu, India |
|
Date of Appointment : |
13.10.2012 |
|
PAN No.: |
AACPT6433C |
|
|
|
|
Name : |
Mr. Saravanan |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
K.S. Venugopala |
4114200 |
|
K.S. Venugopala (HUF) |
125000 |
|
Vinodh Venugopal |
246000 |
|
Manoj Venugopal |
246000 |
|
Shyam Venugopal |
246000 |
|
R. Balakrishnan |
10000 |
|
B. Padmanabhan |
10000 |
|
V. Dhanalakshmi |
2800 |
|
|
|
|
Total |
5000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
99.60 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
0.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
·
Wholesale trade services of wheat, wheat
products, Macaroni, noodles and similar products. ·
Manufacturer and trader of wheat, wheat
products and pasta 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 : |
|
|
Auditors : |
|
|
Name : |
D Sampath Kumar and Company Chartered Accountants |
|
Address : |
New No. 5, Old No. 3, South Boag Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
PAN No.: |
AAAFD2288D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary company
: |
·
Savorit Unavugal Limited |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Vims Impex Limited · Parvenu Vanigam Private Limited · Tejassvi Aaharam Limited · Yenlakshmi Enterprizes · Savorit Food Industries Limited |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
INR 10/- each |
INR 60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 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 |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
63.765 |
55.880 |
45.677 |
|
(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) |
113.765 |
105.880 |
95.677 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
351.861 |
494.068 |
248.866 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
27.400 |
77.400 |
75.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
379.261 |
571.468 |
323.866 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
83.994 |
70.890 |
127.366 |
|
(b) Trade
payables |
205.378 |
185.494 |
205.988 |
|
(c) Other
current liabilities |
202.942 |
39.427 |
27.381 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
492.314 |
295.811 |
360.735 |
|
|
|
|
|
|
TOTAL |
985.340 |
973.159 |
780.278 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
153.903 |
136.307 |
113.847 |
|
(ii)
Intangible Assets |
1.209 |
0.613 |
0.228 |
|
(iii)
Capital work-in-progress |
0.000 |
24.108 |
28.873 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
91.110 |
91.110 |
91.110 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
135.686 |
216.098 |
115.741 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
381.908 |
468.236 |
349.799 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
45.446 |
52.559 |
33.591 |
|
(c) Trade receivables |
528.471 |
337.176 |
369.576 |
|
(d) Cash
and cash equivalents |
13.241 |
100.935 |
15.548 |
|
(e)
Short-term loans and advances |
16.274 |
14.253 |
11.764 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
603.432 |
504.923 |
430.479 |
|
|
|
|
|
|
TOTAL |
985.340 |
973.159 |
780.278 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1983.256 |
2027.872 |
1758.654 |
|
|
Other Income |
0.819 |
1.472 |
1.341 |
|
|
TOTAL |
1984.075 |
2029.344 |
1759.995 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
686.224 |
670.761 |
866.422 |
|
|
Purchases of
Stock-in-Trade |
1014.570 |
989.955 |
560.874 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
8.203 |
(11.215) |
0.550 |
|
|
Employee benefit expense |
56.084 |
58.400 |
39.856 |
|
|
Other expenses |
244.225 |
282.838 |
228.684 |
|
|
Exceptional items before tax |
(127.841) |
(40.282) |
0.000 |
|
|
TOTAL |
1881.465 |
1950.457 |
1696.386 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
102.610 |
78.887 |
63.609 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
81.097 |
55.758 |
41.111 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
21.513 |
23.129 |
22.498 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.278 |
10.227 |
10.823 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
9.235 |
12.902 |
11.675 |
|
|
|
|
|
|
|
Less |
TAX |
1.350 |
2.700 |
1.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
7.885 |
10.202 |
9.875 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.58 |
2.04 |
1.98 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
26.832 |
18.260 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(30.145) |
(60.597) |
99.460 |
|
Net cash flows from (used in) operating activities |
(30.145) |
(60.597) |
99.460 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
97.26 |
60.69 |
76.70 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.75 |
6.01 |
4.76 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
44.08 |
40.77 |
52.68 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.26 |
1.50 |
1.89 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.66 |
0.49 |
0.44 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.88 |
0.83 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
4.07 |
5.51 |
3.93 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.33 |
2.79 |
3.77 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.36 |
1.52 |
1.49 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.27 |
1.41 |
1.55 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
0.40 |
0.50 |
0.56 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.80 |
1.05 |
1.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
6.93 |
9.64 |
10.32 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.23 |
1.71 |
1.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.13 |
1.53 |
1.10 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.12 |
0.11 |
0.12 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
9.25 |
11.66 |
7.52 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.23 |
1.71 |
1.19 |
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 |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
45.677 |
55.880 |
63.765 |
|
Net
worth |
95.677 |
105.880 |
113.765 |
|
|
|
|
|
|
Long-term borrowings |
248.866 |
494.068 |
351.861 |
|
Short term borrowings |
127.366 |
70.890 |
83.994 |
|
Current maturities of
long-term debts |
0.000 |
18.260 |
26.832 |
|
Total
borrowings |
376.232 |
583.218 |
462.687 |
|
Debt/Equity
ratio |
3.932 |
5.508 |
4.067 |
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 |
1758.654 |
2027.872 |
1983.256 |
|
|
|
15.308 |
(2.200) |
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 |
1758.654 |
2027.872 |
1983.256 |
|
Profit/ (Loss) |
9.875 |
10.202 |
7.885 |
|
|
0.56
% |
0.50
% |
0.40
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
50.000 |
50.000 |
|
(b) Reserves and Surplus |
|
17.026 |
9.468 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
67.026 |
59.468 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
325.213 |
467.406 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
27.400 |
77.400 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
352.613 |
544.806 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
83.994 |
70.890 |
|
(b) Trade payables |
|
205.378 |
185.495 |
|
(c) Other
current liabilities |
|
203.352 |
39.591 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
492.724 |
295.976 |
|
|
|
|
|
|
TOTAL |
|
912.363 |
900.250 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
165.078 |
147.481 |
|
(ii)
Intangible Assets |
|
1.209 |
0.614 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
24.109 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
6.633 |
6.633 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term
loans and advances |
|
135.686 |
216.098 |
|
(e) Other
Non-current assets |
|
0.022 |
0.022 |
|
Total Non-Current
Assets |
|
308.628 |
394.957 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
45.446 |
52.559 |
|
(c) Trade
receivables |
|
528.720 |
337.222 |
|
(d) Cash and bank
balances |
|
13.250 |
101.219 |
|
(e)
Short-term loans and advances |
|
16.319 |
14.293 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
603.735 |
505.293 |
|
|
|
|
|
|
TOTAL |
|
912.363 |
900.250 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
1983.256 |
2027.872 |
|
|
Other Income |
|
0.819 |
1.472 |
|
|
TOTAL |
|
1984.075 |
2029.344 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
686.224 |
670.761 |
|
|
Purchases of
Stock-in-Trade |
|
1014.570 |
989.955 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
8.203 |
(11.215) |
|
|
Employee benefit expense |
|
56.303 |
58.607 |
|
|
Other expenses |
|
244.332 |
282.857 |
|
|
Exceptional items before tax |
|
(127.841) |
(38.178) |
|
|
TOTAL |
|
1881.791 |
1952.787 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
102.284 |
76.557 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
81.098 |
55.760 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
21.186 |
20.797 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
12.278 |
10.227 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
8.908 |
10.570 |
|
|
|
|
|
|
|
Less |
TAX |
|
1.350 |
2.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
7.558 |
7.870 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
1.51 |
1.57 |
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 |
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 |
COMPANY PERFORMANCE
The Company's Turnover and other Income during the year under review is INR 1984.075 million as against INR 2029.344 million for the corresponding previous year. The Directors are to report that the company has earned a Net Profit after tax of INR 7.885 million as against a sum of INR 10.202 million during the previous year.
REVIEW OF BUSINESS OPERATIONS AND FUTURE
PROSPECTS:
The Directors are optimistic about company’s business and hopeful of better performance in next year.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Intercorporate deposits |
0.000 |
20.000 |
|
Loans and advances from related parties |
26.648 |
26.662 |
|
Other loans and advances |
99.379 |
91.010 |
|
|
|
|
|
Total |
126.027 |
137.672 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G69992204 |
100139870 |
SAMUNNATI FINANCIAL INTERMEDIATION & SERVICES PRIVATE LIMITED |
26/10/2017 |
- |
- |
30000000.0 |
MODULE 2-A, 6TH FLOOR, BLOCK A, PHASE IIIITM RESEARCH PARK, KANAGAM, TARAMANI ROAD CHENNAI TA600113IN |
|
2 |
G42199489 |
100093176 |
LAKSHMI VILAS BANK LIMITED |
30/03/2017 |
- |
- |
229000000.0 |
NO.47/2, PENSIONER STREET, DINDIGUL TN624001IN |
|
3 |
G82675257 |
100020691 |
RELIGARE FINVEST LIMITED |
21/03/2016 |
- |
27/03/2018 |
246500000.0 |
D3, P3B, DISTRICT CENTRE, SAKET NEW DELHI DE110017IN |
|
4 |
G42579474 |
10608163 |
FULLERTON INDIA CREDIT COMPANY LIMITED |
24/11/2015 |
- |
25/04/2017 |
124900000.0 |
MEGH TOWERS, THIRD FLOOR, OLD NO-307,NEW NO-165, POONAMALLEE HIGH ROAD, MADURAVOYAL, CHENNAI TN600095IN |
|
5 |
G44168326 |
100038060 |
CORPORATION BANK |
24/06/2016 |
02/12/2016 |
25/04/2017 |
94500000.0 |
I FLOOR JEEVA JOTHI BUILDING SALAI ROAD POST BOX NO 35 DINDIGUL TN624001IN |
|
6 |
G42861641 |
10626789 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
15/03/2016 |
- |
25/04/2017 |
40000000.0 |
GROUND FLOOR, MADITSSIA AUDITORIUM NO.1A-4A, DR. AMBEDKAR ROAD MADURAI TN625020IN |
|
7 |
G00921874 |
10132308 |
INDIAN BANK |
20/10/2008 |
- |
29/03/2016 |
7160000.0 |
MADRAS GEORGE TOWN BRANCH CHENNAI TN600001IN |
|
8 |
G01253194 |
10163961 |
INDIAN BANK |
11/05/2009 |
- |
29/03/2016 |
500000.0 |
MADRAS GEORGE TOWN BRANCH GEORGE TOWN CHENNAI TN600001IN |
|
9 |
G00729012 |
10059727 |
INDIAN BANK |
18/07/2007 |
04/03/2015 |
29/03/2016 |
380900000.0 |
MADRAS GEORGE TOWN BRANCH, 321 (OLD NO.155), THAMBU CHETTY STREET CHENNAI TN600001IN |
|
10 |
G00912600 |
10060224 |
INDIAN BANK |
06/07/2007 |
- |
29/03/2016 |
150000000.0 |
MADRAS GEROGE TOWN BRANCH, CHENNAI TN600001IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.68 |
|
|
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKT |
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.