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|
MIRA INFORM REPORT
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Report No. : |
504814 |
|
Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
VENSON ELECTRIC PRIVATE LIMITED |
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|
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|
Registered
Office : |
No.331, 9th Cross, 4th Phase, Peenya Industrial Area, Bangalore –
560058, Karnataka |
|
Tel. No.: |
91-80-28361208/28360232/28360223 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
17.02.2000 |
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|
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Com. Reg. No.: |
08-026414 |
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Capital
Investment / Paid-up Capital : |
INR 20.000 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U31909KA2000PTC026414 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
29450572792 |
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PAN No.: [Permanent Account No.] |
AABCV7157P |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
29AABCV7157P1ZH |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supply of Control and Relay Panels for the system
voltages up to 220KV as well as 400KV Protection Segment and also providing
services as EPC contractor and to power utilities. (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 |
|
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 2000. It is engaged in manufacturing control and relay panel boards for generations, transmission and distribution of switchgear equipments. For the financial year ended 2017, the company has reported a decline in its revenue as compared to the previous year’s revenue but has managed to achieve low net profit margin. The overall financial position of the company seems to be satisfactory marked by acceptable networth base along with low debt level and average liquidity position. 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 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
|
Rating Agency Name |
ICRA |
|
Rating |
Long term loans : BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
23.03.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term loans : A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
23.03.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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
Management non-cooperative (Tel No.: 91-80-28361208/28360232/28360223)
LOCATIONS
|
Registered Office/ Factory : |
No.331, 9th Cross, 4th Phase, Peenya Industrial Area, Bangalore –
560058, Karnataka, India |
|
Tel. No.: |
91-80-28361208/28360232/28360223 |
|
Fax No.: |
91-80-28360223 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality:
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Industrial |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Girish R Chaitanya |
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Designation : |
Managing Director |
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Address : |
No.50, 11th A Main, 5th Block Jayanagar, Bangalore-560041, Karnataka,
India |
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Date of Birth/Age : |
02.09.1971 |
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Date of Appointment : |
12.04.2013 |
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DIN No.: |
00290909 |
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Other
Directorship :
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Name : |
Mr. Satyanarayana Venkata Rama Sastry Manchanahalli |
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Designation : |
Director |
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Address : |
No.: 68, Satyanarayana Layout, 3rd Stage, 4th Block,
Basaveshwaranagra, Bangalore – 560079, Karnataka, India |
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Date of Appointment : |
17.02.2000 |
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DIN No.: |
00271610 |
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Other
Directorship :
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Name : |
Anagha Satyanarayana Manchanahalli |
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Designation : |
Director |
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Address : |
No.50, 11th A Main, 5th Block Jayanagar, Bangalore-560041, Karnataka,
India |
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Date of Appointment : |
17.02.2000 |
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DIN No.: |
00287494 |
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Other
Directorship :
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Name : |
Aaryaa Satyanarayana Manchanahalli |
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Designation : |
Director |
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Address : |
# 68, Satyanarayana Layout, 3rd Stage, 4th Block,
Basaveshwaranagra, Bangalore – 560079, Karnataka, India |
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Date of Appointment : |
17.02.2000 |
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DIN No.: |
00286187 |
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Other
Directorship :
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Name : |
Nagarathna Ballupura Krishnappa |
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Designation : |
Director |
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Address : |
# 68, Satyanarayana Layout, 3rd Stage, 4th
Block, Basaveshwaranagra, Bangalore – 560079, Karnataka, India |
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Date of Birth/Age : |
03.02.1946 |
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Date of Appointment : |
01.04.2005 |
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DIN No.: |
00286066 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Satyanarayana Venkata Rama Sastry Manchanahalli |
1040000 |
52.00 |
|
Nagarathna Ballupura Krishnappa |
540000 |
27.00 |
|
Aaryaa Satyanarayana Manchanahalli |
160000 |
8.00 |
|
Anagha Satyanarayana Manchanahalli |
160000 |
8.00 |
|
M.V. Satyanarayana (HUF) |
44000 |
2.20 |
|
Girish R Chaitanya |
56000 |
2.80 |
|
Total |
2000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
97.80 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
2.20 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supply of Control and Relay Panels for the system voltages
up to 220KV as well as 400KV Protection Segment and also providing services
as EPC contractor and to power utilities. (Registered Activity) |
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Products/Services : |
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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 : |
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 : |
· State Bank of Mysore, Small and Medium Enterprises City Credit Centre, No.8/6,2nd Floor, Ranga Rao Road, Shankarapuram, Bangalore - 560004, Karnataka, India |
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Facilities : |
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Auditors : |
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Name : |
SNR and Company Chartered Accountants |
|
Address : |
No 605, 2nd Floor, 62nd Cross, V Block, Rajajinagar,
Bangalore- 560010, Karnataka, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAKFS9813P |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Company : |
·
Venson Green Solutions Private Limited |
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Associate Companies : |
· JVS Electronics Private Limited CIN No.: U29100KA2014PTC074061 · Dhee Automation Private Limited CIN No.: U72200KA2016PTC085991 |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
20.000 |
20.000 |
20.000 |
|
(b) Reserves & Surplus |
25.718 |
25.352 |
23.614 |
|
(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) |
45.718 |
45.352 |
43.614 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
25.167 |
24.665 |
33.357 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
25.167 |
24.665 |
33.357 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5.524 |
0.000 |
9.891 |
|
(b) Trade payables |
51.024 |
53.716 |
72.946 |
|
(c) Other current liabilities |
4.440 |
5.016 |
6.732 |
|
(d) Short-term provisions |
0.128 |
1.535 |
0.860 |
|
Total
Current Liabilities (4) |
61.116 |
60.267 |
90.429 |
|
|
|
|
|
|
TOTAL |
132.001 |
130.284 |
167.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.520 |
9.034 |
11.126 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.820 |
4.820 |
4.620 |
|
(c) Deferred tax assets (net) |
0.526 |
0.307 |
0.176 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
12.866 |
14.161 |
15.922 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
62.799 |
44.618 |
20.076 |
|
(c) Trade receivables |
34.434 |
44.312 |
108.273 |
|
(d) Cash and cash equivalents |
7.798 |
7.312 |
6.662 |
|
(e) Short-term loans and
advances |
12.607 |
18.282 |
16.467 |
|
(f) Other current assets |
1.497 |
1.599 |
0.000 |
|
Total
Current Assets |
119.135 |
116.123 |
151.478 |
|
|
|
|
|
|
TOTAL |
132.001 |
130.284 |
167.400 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
130.880 |
161.866 |
209.382 |
|
|
Other Income |
2.657 |
2.180 |
0.675 |
|
|
TOTAL
|
133.537 |
164.046 |
210.057 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
104.024 |
107.419 |
138.745 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(28.481) |
(7.998) |
3.003 |
|
|
Employees benefits expense |
19.431 |
20.500 |
18.376 |
|
|
Other expenses |
28.780 |
30.822 |
34.342 |
|
|
Exceptional Items |
0.000 |
(1.077) |
0.119 |
|
|
TOTAL |
123.754 |
149.666 |
194.585 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
9.783 |
14.380 |
15.472 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
7.870 |
6.844 |
7.159 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.913 |
7.536 |
8.313 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
1.638 |
2.960 |
1.922 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
0.275 |
4.576 |
6.391 |
|
|
|
|
|
|
|
Less |
TAX |
(0.091) |
1.403 |
0.813 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.366 |
3.173 |
5.578 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.18 |
1.59 |
2.79 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash used in operating activities
|
NA |
NA |
11.210 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
96.03 |
99.92 |
188.74 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.80 |
3.65 |
1.93 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
179.03 |
182.52 |
191.90 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.16 |
0.32 |
0.77 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.30 |
1.59 |
1.39 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.65 |
0.65 |
0.74 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.67 |
0.54 |
0.99 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.34 |
1.33 |
2.07 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.16 |
0.20 |
0.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.24 |
2.10 |
2.16 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.28 |
1.96 |
2.66 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.28 |
2.44 |
3.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
0.80 |
7.00 |
12.79 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.95 |
1.93 |
1.68 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.92 |
1.19 |
1.45 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.35 |
0.35 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.53 |
1.23 |
2.16 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.95 |
1.93 |
1.68 |
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 |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
23.614 |
25.352 |
25.718 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
43.614 |
45.352 |
45.718 |
|
|
|
|
|
|
long-term borrowings |
33.357 |
24.665 |
25.167 |
|
Short term borrowings |
9.891 |
0.000 |
5.524 |
|
Total
borrowings |
43.248 |
24.665 |
30.691 |
|
Debt/Equity
ratio |
0.992 |
0.544 |
0.671 |
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 |
209.382 |
161.866 |
130.880 |
|
|
|
(22.693) |
(19.143) |
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 |
209.382 |
161.866 |
130.880 |
|
Profit |
5.578 |
3.173 |
0.366 |
|
|
2.66% |
1.96% |
0.28% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION: (As on 31.03.2016)
The company incorporated under the company act, 1956 in the year 2000.
The company is engaged in Manufacturer and Supply of Control and Relay Panels for
the system voltages up to 220KV as well as 400KV Protection Segment and also
providing services as EPC contractor and to power utilities.
BRIEF DESCRIPTION OF
THE COMPANY’S WORKING DURING THE YEAR (As on 31.03.2017)
The company's revenue has been declined by 19%. The Profit after Tax (PAT) has been declined from INR 3.173 Million to INR 0.366 Million a decrease of 88.46%. In the previous year report, the Directors had foreseen a drop in this financial year both in revenue and profitability. Strong competitive environment, with many suppliers, and not many new projects were started this year, were some of the reasons for the fall in revenue and profitability.
The company's 100% business is from Power Utilities. Working with standard specification of the utilities gives us very little choice other than pricing to differentiate from the competitors. The company is further working towards approval with utilities and other consultants to increase the breadth of the business.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From Directors |
25.167 |
24.655 |
|
Total |
25.167 |
24.655 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
A34965921 |
10094687 |
STATE BANK OF MYSORE |
25/09/2007 |
- |
- |
2500000.0 |
II ND CROSS SAMPIGE ROAD, MALLESHWARM, BANGALORE-560003, KARNATAKA, INDIA |
|
2 |
G41011040 |
80026942 |
State Bank of Mysore |
17/05/2003 |
17/03/2017 |
- |
95000000.0 |
Small & Medium Enterprises City Credit Centre,8/6, 2nd Floor, Ranga Rao Road, Shankarpuram Bangalore Karnataka 560004 India |
|
3 |
G37041894 |
10380870 |
THE NATIONAL CO-OPERATIVE BANK LIMITED |
08/10/2012 |
- |
20/02/2017 |
15000000.0 |
THE NATIONAL CO-OPERATIVE BANK LIMITED, 73/1, GANDHI BAZAAR MAIN ROAD, BANGALORE-560004, KARNATAKA, INDIA |
FIXED ASSETS
- Land
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Printer
- CC TV Camera
- Mobile hone
- Office
Equipment
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 65.45 |
|
UK Pound |
1 |
INR 93.28 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
JYTK |
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.