|
|
|
MIRA INFORM REPORT
|
Report No. : |
504682 |
|
Report Date : |
20.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PORTESCAP INDIA PRIVATE LIMITED (w.e.f. 12.10.2006) |
|
|
|
|
Formerly Known
As : |
DANAHER MOTION INDIA PRIVATE LIMITED (w.e.f. 18.10.2002) KOLLMORGEN INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 2, SDF-I, SEEPZ-SEZ, Andheri (East), Mumbai - 400096,
Maharashtra |
|
Tel. No.: |
91-22-42004100 / 28924000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
16.08.1994 |
|
|
|
|
Com. Reg. No.: |
11-137603 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 122.793 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31103MH1994PTC137603 |
|
|
|
|
TIN No.: |
27510254632 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
2795000016 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK4896K |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACK4896K1ZZ |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
The Company is in the business of manufacturing high precision, special purpose motors - Brush ('DC') Motors, Brushless DC ('BLDC') Motors and Stepper Motors as per customer specific requirements for various applications in surgical and dental instruments, ventilators, respirators and various other medical equipment's, robotics, security and access, automation systems, etc. (Registered activity) |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “TGA Holding Singapore Pte. Ltd., Singapore” and was incorporated in the year 1994. For the financial year 2017, the company has reported dip in its revenue by 5.06% as compared to the previous year but has managed to maintain a decent profit margin of 17.99%. The sound financial risk profile of the company is marked by adequate net worth base along with strong debt protection metrics due to debt free balance sheet profile. Rating takes into consideration the subject’s healthy Earnings per Share of INR 61.14 against the Face Value of INR 10. Rating takes into account the subject’s long established track record of business operations along with extensive experience of its promoters. Payment 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 20.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. D’souza |
|
Designation : |
Manager |
|
Contact No.: |
91-9920774354 |
|
Date : |
19.04.2018 |
MANAGEMENT NON-CO-OPERATIVE (TEL NO.: 91-22-42006200 / 28924000 /
42006201 / 4200410)
91-22-28290552
(NOT WORKING)
LOCATIONS
|
Registered Office : |
Unit No. 2, SDF-I, SEEPZ-SEZ, Andheri (East), Mumbai-400096,
Maharashtra, India |
|
Tel. No.: |
91-22-28924000 / 42004100 |
|
Fax No.: |
91-22-26916034 / 2629 4038 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
Tower 2, Unit 101 to 104, SDF-1, SEEPZ-SEZ, Andheri (East),
Mumbai-400096, Maharashtra, India |
|
Tel. No.: |
91-22-42004165 / 42006200 / 42006201 |
|
Fax No.: |
91-22-42004036 |
|
|
|
|
Overseas Offices : |
Located At:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. James Andrew Eder |
|
Designation : |
Director |
|
Address : |
130 Stoner Drive, West Hartford, 06107, United States of America |
|
Date of Birth/Age : |
29.07.1945 |
|
Qualification : |
BA, Master’s degree in English |
|
Date of Appointment : |
01.07.2013 |
|
DIN No.: |
00271500 |
|
|
|
|
Name : |
Mr. Rishi Bhatnagar |
|
Designation : |
Whole-Time Director |
|
Address : |
28/101, East End Apartments, Mayur Vihar Phase-I, Extension, Delhi – 110096, India |
|
Date of Birth/Age : |
20.06.1959 |
|
Qualification : |
B.E. Electrical PGDBA. |
|
Date of Appointment : |
03.10.2011 |
|
PAN No.: |
AEHPB8811R |
|
DIN No.: |
02261444 |
|
|
|
|
Name : |
Mr. Amitava Sur |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No.B-1004, Plot No. 4/6, Seawoods Garden CHS, SEC-17/ Sanpada, Navi Mumbai – 400705, Maharashtra, India |
|
Date of Birth/Age : |
27.12.1968 |
|
Qualification : |
M Com, FCA, ACMA |
|
Date of Appointment : |
15.11.2012 |
|
PAN No.: |
AHYPS4905P |
|
DIN No.: |
06423493 |
KEY EXECUTIVES
|
Name : |
Ms. Rashmi Omprakash Savita |
|
Designation : |
Secretary |
|
Address : |
A-I 02, Om Sai Cooperative Housing Society, Building No.2, Bharat
Nagar, Tagore Nagar, Vikroli (East), Mumbai - 400083, Maharashtra, India |
|
Date of Appointment : |
26.03.2015 |
|
PAN No.: |
CECPS1929E |
|
|
|
|
Name : |
Mr. D’souza |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Portescap Singapore Pte. Limited, Singapore |
|
12279243 |
|
Portescap Singapore Pte. Limited Jointly with James Andrew Eder |
|
100 |
|
|
|
|
|
Total |
|
12279343 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is in the business of manufacturing high precision, special purpose motors - Brush ('DC') Motors, Brushless DC ('BLDC') Motors and Stepper Motors as per customer specific requirements for various applications in surgical and dental instruments, ventilators, respirators and various other medical equipment's, robotics, security and access, automation systems, etc. (Registered activity) |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Divulged |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiary : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
INR 10/- each |
INR 140.000 Million |
|
4000000 |
Preference Shares |
INR 10/- each |
INR 40.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 180.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12279343 |
Equity Shares |
INR 10/- each |
INR 122.793 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 |
122.793 |
122.7930 |
122.7930 |
|
(b) Reserves & Surplus |
3413.600 |
2662.9000 |
3732.1000 |
|
(c) Money received against
share warrants |
0.000 |
0.0000 |
0.0000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.0000 |
0.0000 |
|
Total
Shareholders’ Funds (1) + (2) |
3536.393 |
2785.693 |
3854.893 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
446.107 |
345.800 |
222.000 |
|
(c) Other long term
liabilities |
35.500 |
31.300 |
22.800 |
|
(d) long-term provisions |
13.100 |
11.000 |
8.500 |
|
Total
Non-current Liabilities (3) |
494.707 |
388.100 |
253.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
576.600 |
596.007 |
554.907 |
|
(c) Other current liabilities |
102.600 |
92.500 |
73.100 |
|
(d) Short-term provisions |
26.800 |
58.700 |
52.800 |
|
Total
Current Liabilities (4) |
706.000 |
747.207 |
680.807 |
|
|
|
|
|
|
TOTAL |
4737.100 |
3921.000 |
4789.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
529.600 |
520.800 |
470.900 |
|
(ii) Intangible Assets |
5.100 |
8.600 |
1.700 |
|
(iii) Capital work-in-progress |
3.700 |
31.100 |
35.000 |
|
(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 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
409.900 |
339.400 |
269.900 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
948.300 |
899.900 |
777.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
486.000 |
449.400 |
561.600 |
|
(c) Trade receivables |
531.800 |
646.800 |
578.300 |
|
(d) Cash and cash equivalents |
2619.800 |
1839.300 |
2814.700 |
|
(e) Short-term loans and
advances |
22.900 |
29.400 |
31.100 |
|
(f) Other current assets |
128.300 |
56.200 |
25.800 |
|
Total
Current Assets |
3788.800 |
3021.100 |
4011.500 |
|
|
|
|
|
|
TOTAL |
4737.100 |
3921.000 |
4789.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
4172.800 |
4395.100 |
4146.800 |
|
|
Other Income |
124.300 |
205.700 |
174.100 |
|
|
TOTAL
|
4297.100 |
4600.800 |
4320.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1632.800 |
1592.500 |
1743.100 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(35.900) |
74.700 |
(44.000) |
|
|
Employees benefits expense |
384.400 |
364.500 |
354.300 |
|
|
CSR expenditure |
22.845 |
18.900 |
1183.000 |
|
|
Other expenses |
1212.055 |
1199.100 |
16.800 |
|
|
TOTAL |
3216.200 |
3249.700 |
3253.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1080.900 |
1351.100 |
1067.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1080.900 |
1351.100 |
1067.700 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
89.900 |
72.900 |
59.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
991.000 |
1278.200 |
1008.300 |
|
|
|
|
|
|
|
Less |
TAX |
240.300 |
352.200 |
302.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
750.700 |
926.000 |
706.000 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
4071.400 |
4316.600 |
4110.300 |
|
|
TOTAL
EARNINGS |
4071.400 |
4316.600 |
4110.300 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1373.600 |
1355.700 |
1517.900 |
|
|
Components and Stores parts |
100.900 |
112.000 |
107.000 |
|
|
Capital Goods |
43.600 |
60.700 |
48.100 |
|
|
TOTAL
IMPORTS |
1518.100 |
1528.400 |
1673.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
61.14 |
75.41 |
57.50 |
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 |
|
Net cash flows from (used in) operations |
1139.800 |
1394.500 |
1232.200 |
|
Net cash flows from (used in) operating activities |
744.700 |
977.900 |
836.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
46.52 |
53.71 |
50.90 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.85 |
6.80 |
7.17 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
128.89 |
136.60 |
116.20 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.22 |
3.01 |
1.90 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.01 |
2.41 |
2.10 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.15 |
0.19 |
0.14 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.20 |
0.27 |
0.18 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.15 |
0.20 |
0.13 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
17.99 |
21.07 |
17.03 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
15.85 |
23.62 |
14.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
21.23 |
33.24 |
18.31 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
5.37 |
4.04 |
5.89 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
4.68 |
3.44 |
5.07 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.75 |
0.71 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
5.37 |
4.04 |
5.89 |
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 |
122.793 |
122.793 |
122.793 |
|
Reserves & Surplus |
3732.100 |
2662.900 |
3413.600 |
|
Net
worth |
3854.893 |
2785.693 |
3536.393 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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
|
4146.800 |
4395.100 |
4172.800 |
|
|
|
5.988 |
(5.058) |
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
|
4146.800 |
4395.100 |
4172.800 |
|
Profit |
706.000 |
926.000 |
750.700 |
|
|
17.03% |
21.07% |
17.99% |
LEGAL
CASE
HIGH COURT
|
THE COMMISSIONER OF INCOM E TAXTDS2 VS MS PORTESCAP INDIA VT.LTD |
|
high court-Mum |
|
Case no:41. ITXAL/652/2015 |
|
Case status:Pending |
|
Judge:BEFORE SHRI. B. M. GORE, MASTER & REGISTRAR IN EQUITY AND |
|
Date:2015-10-09T00:00:00Z |
HIGH COURT
|
THE COMMISSIONER OF INCOM E TAXTDS2 VS MS PORTESCAP INDIA P VT.LTD Assessment Year 20092010. |
|
high court-Maharashtra |
|
Case no:ITXA/1277/2015 [Original] REMARK : CD IS GIVEN ON 4.12.2015 Lower Court Details : Case No.-ITA/5490/2013, Decision Dt.-18/12/2014, |
|
Case status:Pending |
|
Judge:HON'BLE SHRI JUSTICE A.S. OKA HON'BLE SHRI JUSTICE A. K. MENON |
|
Date:2017-11-30 |
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 |
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 |
No |
|
21 |
Banking facility details |
No |
|
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 |
REVIEW OF OPERATIONS
AND OVERALL PERFORMANCE
During the year, a subdued industrial market segment accentuated by stronger Rupee posed growth challenges for the Company. However, your Company continued to leverage its improved quality performance and customer focus to maintain its share of wallet of the customer. The Company’s Sales turnover stood at INR 4172.800 Million as compared to INR 4395.100 Million in the previous year.
More than half (amounting to INR 120.000 Million) of the Company’s drop-in revenue year-on-year, was on account of lower realisation of export sales due to the Indian Rupee strengthening against most of the Company’s transacting currencies viz. US dollars, Euro and Swiss Franc. The Profit for the year was INR 750.700 Million as compared to INR 926.000 Million in previous year. Foreign exchange transactions during the year adversely impacted the Profit of the Company by INR 70.000 Million over and above the revenue impact stated above. There were no material changes in the nature of business of the Company during the year under review.
The Company continues to Live and Leverage its ultimate holding Company’s philosophy of Fortive Business System (FBS) across its people, functions, processes and resources. This is done with an aim of ensuring an organizational culture which encourages people engagement; efficient execution with continual improvement in its processes and functions; effortless adaptation to changes in its business environment or its resources as well as on time delivery of quality products to its customers. In its efforts improve its digital presence, the Company improved its website through robust content development and made it more interactive.
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Estimated amount of contracts remaining to be executed on capital account and not provided for |
12.200 |
49.700 |
FIXED ASSETS
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- 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,
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 65.78 |
|
|
1 |
INR 93.42 |
|
Euro |
1 |
INR 81.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
SRY |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.