|
|
|
MIRA INFORM REPORT
|
Report No. : |
505422 |
|
Report Date : |
21.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
COLOURTEX INDUSTRIES PRIVATE LIMITED (w.e.f.03.03.2014) |
|
|
|
|
Formerly Known
As : |
COLOURTEX INDUSTRIES LIMITED (w.e.f.20.03.2007) COLOURTEX INDUSTRIES PRIVATE LIMITED PANDESARA DYES AND INTERMEDIATES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S. No. 80, Bhestan, G.I.D.C., Pandesar, Surat – 394221, Gujarat |
|
Tel. No.: |
91-261-2890122 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
23.10.1989 |
|
|
|
|
Com. Reg. No.: |
04-012922 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 645.811
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1989PTC012922 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0893012289 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AABCP6359B1Z0 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP6359B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Supplier and Exporter of Dyes and
Intermediates and importer of raw materials. [Registered activity and also confirmed by
management] |
|
|
|
|
No. of Employees
: |
5000 (Approximately) |
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 : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Colourtex Industries Private Limited is engaged in manufacturing and
exporting of dyes and intermediates. The company was incorporated in 1989 and
is based in Surat, Gujarat. It is having fine track record. Management of the company has not filed its financials with the
government department for the year 2017. As per available financials of 2016, revenue of the company has
slightly declined. However, it has been able to achieve fair profit margin at
6.14 (approx). The company possesses strong financial risk profile marked by healthy
net worth base along with comfortable debt level and favorable gap between
trade payables to its trade receivables. The rating also continue to derive strength from the wide experience
of the promoters of CIPL in chemical industry along with well-established
operations. Further, as per indirect sources we could also find that company has
achieved healthy operational revenue of INR 28830.000 Million and reported
profit of INR 1800.000 Million during FY 2017. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular and as per commitment. In view of the aforesaid, the company can be considered normal for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating: AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
09.03.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
09.03.2017 |
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 21.04.2018
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 PARTED BY
|
Name : |
Mr. Vinod Patel |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9825041931 |
|
Date: |
21.04.2018 |
LOCATIONS
|
Registered Office/ Factory 1 : |
S. No.80, Bhestan, G.I.D.C., Pandesar, Surat – 394221, Gujarat, India |
|
Tel. No.: |
91-261-2890122 |
|
Mobile No.: |
91-9825041931 (Mr. Vinod Patel) |
|
Fax No.: |
91-261-2891011 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
1500 Sq. ft |
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Head Quarter/ Admin Office : |
Survey No.91, Opposite Navin Fluorine Industries, Bhestan,
Surat – 395023, Gujarat, India |
|
Tel. No.: |
91-261-2897800/ 801/ 802 |
|
Fax No.: |
91-261-2892364/ 2890080 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Survey No.74/79/80, Plot No.158/15 to 19, 19, 438-1, 2, 3, 4, Bhestan G.I.D.C.,
Pandesara, Surat – 394221, Gujarat, India |
|
Tel. No.: |
91-261-2891428/ 2891429/ 2897800/ 801/ 802 |
|
Fax No.: |
91-261-2890080/ 2892364 |
|
E-Mail : |
|
|
Area : |
69000 Sq. Mtrs. (Land area – 80000 Sq. mtrs.) |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
Survey No.75/50/80, Plot No.158, Bhestan, GIDC, Pandesara, |
|
|
|
|
Factory 4 : |
Plot No. 8108/2, 288/1-2, 289/2 G.I.D.C., Sachin, Surat –
394230, Gujarat, India |
|
|
|
|
Branch Offices : |
Plot No HB 17, Phase VI, Focal Point,
Opposite Raghav Woolen Mills, Ludhiana – 414010, Punjab, India Tel No.: 91-161-2670286 Also
Located At: · Ahmedabad · Bhilwara · Chandigarh · Chennai · Ghaziabad · Ichhalkaranji · Mumbai ·
Tirupur |
|
|
|
|
Sales Offices : |
Located at: · Bangalore · Delhi · Gorakhpur · Hyderabad · Kanpur ·
Kolkata |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Jayantilal Thakordas Jariwala |
|
Designation : |
Managing Director |
|
Address : |
3, Etka, Opposite Trinidhi Apartment, Ghad Dod Road, Surat – 395001, Gujarat, India |
|
Date of Birth/Age : |
04.11.1943 |
|
Qualification : |
B Com |
|
Date of Appointment : |
02.03.2011 |
|
PAN No.: |
AAWPJ4444K |
|
DIN No.: |
00110103 |
|
|
|
|
Name : |
Mr. Vishadkumar Jayantilal Jariwala |
|
Designation : |
Director |
|
Address : |
4, Etka, Opposite Trinidhi Apartment, Ghaddod Road, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
26.09.1975 |
|
Qualification : |
B Com |
|
Date of Appointment : |
29.12.1994 |
|
PAN No.: |
AAWPJ4340G |
|
DIN No.: |
00076314 |
|
|
|
|
Name : |
Mr. Kanakkumar Jayantilal Jariwala |
|
Designation : |
Director |
|
Address : |
3, Etka, Opposite Trinidhi Apartment, Ghad Dod Road, Surat – 395001, Gujarat, India |
|
Date of Birth/Age : |
17.11.1973 |
|
Qualification : |
BSC |
|
Date of Appointment : |
18.01.1994 |
|
PAN No.: |
AAWPJ4339B |
|
DIN No.: |
00110182 |
|
|
|
|
Name : |
Mr. Maheshchandra Dhansukhlal Kabutarwala |
|
Designation : |
Director |
|
Address : |
4, Etka Society, Opposite Mamta Apartment, Ghad Dod Road, Surat – 395001, Gujarat, India |
|
Date of Birth/Age : |
16.11.1965 |
|
Qualification : |
B Com |
|
Date of Appointment : |
22.09.1993 |
|
PAN No.: |
ABTPK3090N |
|
DIN No.: |
00110317 |
|
|
|
|
Name : |
Mr. Pravinchandra Dhansukhlal Kabutarwala |
|
Designation : |
Director (Operating and HRD) |
|
Address : |
4, Etka Society, Opposite Mamta Apartment, Ghad Dod Road, Surat – 395001, Gujarat, India |
|
Date of Birth/Age : |
03.10.1956 |
|
Qualification : |
BSC |
|
Date of Appointment : |
23.10.1989 |
|
PAN No.: |
AFIPK6382A |
|
DIN No.: |
00110351 |
KEY EXECUTIVES
|
Name : |
Mr. Vinod Patel |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Neelam Sureshkumar Jain |
|
Designation : |
Company Secretary |
|
Address : |
A/302, Suryaprakash Residency, Near Agrasen Bhavan, City Light Surat 395007, Gujarat, India |
|
Date of Appointment : |
03.08.2015 |
|
PAN No.: |
ALEPJ7821M |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
99.99 |
|
Promoters- Body corporate |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer, Supplier and Exporter of Dyes and
Intermediates and importer of raw materials. [Registered activity and also confirmed by management] |
||||
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Products / Services
: |
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||||
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||||
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Brand Names : |
Not Available |
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||||
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Agencies Held : |
Not Available |
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Exports : |
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||||
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Products : |
Finished Goods |
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Countries : |
· United States of America · China · European Countries ·
African Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
|||||
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Selling : |
Cash, L/C and Credit (30,60 Days) (RTGS) |
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|
||||
|
Purchasing : |
Cash, L/C and Credit (30,60 Days) (RTGS) |
PRODUCTION STATUS (AS ON 31.03.2016)
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
S.O. Dyes |
Kgs. |
2,864,757 |
|
Dyes Intermediates |
Kgs. |
132,499 |
|
Dispersing Agents |
Kgs. |
150 |
|
Organic Surface Active Agents |
Kgs. |
100 |
|
Misc. Chemical Products |
Kgs. |
340,695 |
|
Intermediates |
Kgs. |
597,775 |
|
Mineral Fuel, Oils, etc. |
Kgs. |
270 |
|
Articles of Plastics |
Kgs. |
3,064 |
|
Industrial Enzymes |
Kgs. |
2,852 |
GENERAL INFORMATION
|
Suppliers : |
|
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|
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Customers : |
Wholesalers, Retailers and End Users
|
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|
No. of Employees : |
5000 (Approximately) |
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|
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|
Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India Tel No.: 91-22-66521000 · ICICI Bank Limited, ICICI Bank Tower, Near Chakli Circle,Old Padra Road, Vadodara - 390007, Gujarat, India · IDBI Bank Limited, IDBI Tower, World Trade ComplexCuffe Parade, Mumbai - 400005, Maharashtra, India |
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|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
SNK and Company Chartered Accountants |
|
Address : |
45, Sai Nagar Society, B/H Bhulka Bhavan School, Adajan Road, Surat – 395009, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAJFS8455L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related parties
with whom transactions have taken place during the year under consideration (AS
ON 31.03.2016) |
|
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5230000 |
Equity Shares |
INR 10/- each |
INR 52.300 Million |
|
60650000 |
Preference Shares |
INR 10/- each |
INR 606.500
Million |
|
|
|
|
|
|
|
Total |
|
INR 658.800
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3981137 |
Equity Shares |
INR 10/- each |
INR 39.811
Million |
|
60600000 |
Preference Shares |
INR 10/- each |
INR 606.000
Million |
|
|
|
|
|
|
|
Total |
|
INR 645.811 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
645.811 |
45.811 |
45.811 |
|
(b) Reserves and Surplus |
9065.892 |
7289.036 |
5675.469 |
|
(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) |
9711.703 |
7334.847 |
5721.280 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2767.520 |
2947.380 |
3187.528 |
|
(b) Deferred tax liabilities (Net) |
39.951 |
29.157 |
19.107 |
|
(c) Other long-term
liabilities |
2.515 |
1.940 |
11.270 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2809.986 |
2978.477 |
3217.905 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
946.254 |
2221.242 |
2068.198 |
|
(b) Trade
payables |
3049.279 |
3196.582 |
3657.472 |
|
(c) Other
current liabilities |
659.193 |
964.901 |
485.704 |
|
(d) Short-term
provisions |
994.833 |
978.913 |
619.693 |
|
Total Current
Liabilities (4) |
5649.559 |
7361.638 |
6831.067 |
|
|
|
|
|
|
TOTAL |
18171.248 |
17674.962 |
15770.252 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4501.267 |
4345.901 |
2971.670 |
|
(ii)
Intangible Assets |
3.242 |
2.810 |
2.585 |
|
(iii) Tangible assets capital
work-in-progress |
805.450 |
396.929 |
298.252 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
26.548 |
26.548 |
26.548 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
137.450 |
125.038 |
104.320 |
|
(e) Other
Non-current assets |
98.741 |
97.103 |
6.104 |
|
Total Non-Current
Assets |
5572.698 |
4994.329 |
3409.479 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4726.060 |
4080.394 |
4322.704 |
|
(c) Trade
receivables |
5382.314 |
5909.837 |
5630.416 |
|
(d) Cash and
bank balances |
504.295 |
782.494 |
652.726 |
|
(e)
Short-term loans and advances |
1985.881 |
1907.908 |
1754.927 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
12598.550 |
12680.633 |
12360.773 |
|
|
|
|
|
|
TOTAL |
18171.248 |
17674.962 |
15770.252 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
27731.475 |
28258.203 |
21696.005 |
|
|
Other Income |
257.090 |
266.007 |
142.742 |
|
|
TOTAL |
27988.565 |
28524.210 |
21838.747 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
20109.087 |
19739.216 |
15754.755 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(469.478) |
395.762 |
(414.563) |
|
|
Employee benefit expense |
1282.623 |
1152.986 |
837.316 |
|
|
CSR expenditure |
29.814 |
14.970 |
0.000 |
|
|
Other expenses |
3068.452 |
3443.383 |
2848.481 |
|
|
TOTAL |
24020.498 |
24746.317 |
19025.989 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
3968.067 |
3777.893 |
2812.758 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
459.638 |
528.699 |
494.414 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3508.429 |
3249.194 |
2318.344 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
870.699 |
769.943 |
616.426 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2637.730 |
2479.251 |
1701.918 |
|
|
|
|
|
|
|
Less |
TAX |
934.513 |
865.050 |
601.283 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
1703.217 |
1614.201 |
1100.635 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
5650.057 |
4036.496 |
2939.024 |
|
|
|
|
|
|
|
|
Provision
for tax of earlier years |
88.226 |
(0.496) |
(3.030) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Depreciation Reserve |
12.120 |
0.120 |
0.120 |
|
|
Dividend on Preference shares |
2.467 |
0.024 |
0.020 |
|
|
Balance Carried to the B/S |
7426.913 |
5650.057 |
4036.489 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
FOB value of Direct Export |
9397.560 |
10184.229 |
7345.646 |
|
|
TOTAL
EARNINGS |
9397.560 |
10184.229 |
7345.646 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
6030.029 |
6606.041 |
6047.413 |
|
|
Capital Goods |
44.484 |
41.632 |
21.309 |
|
|
TOTAL
IMPORTS |
6074.513 |
6647.673 |
6068.722 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
427.82 |
405.46 |
337.63 |
|
PARTICULARS |
|
|
31.03.2017 |
|
Total Operating Income |
|
|
28830.000 |
|
|
|
|
|
|
PAT (Profit/ (Loss) After Tax) |
|
|
1800.000 |
Note: The above
information has been taken from indirect source i.e. “CARE”
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
203.381 |
596.909 |
236.724 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
3210.667 |
3606.072 |
874.118 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
2286.947 |
2751.072 |
289.618 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
70.84 |
76.34 |
94.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.15 |
4.78 |
3.85 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
55.35 |
59.11 |
84.73 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.84 |
0.93 |
0.65 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.75 |
0.80 |
0.86 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.47 |
0.62 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.40 |
0.79 |
0.96 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.58 |
1.00 |
1.19 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.55 |
0.65 |
0.57 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
8.63 |
7.15 |
5.69 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
6.14 |
5.71 |
5.07 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.37 |
9.13 |
6.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.54 |
22.01 |
19.24 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.23 |
1.72 |
1.81 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.39 |
1.17 |
1.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.53 |
0.41 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.07 |
125.85 |
119.89 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.23 |
1.72 |
1.81 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
45.811 |
45.811 |
645.811 |
|
Reserves & Surplus |
5675.469 |
7289.036 |
9065.892 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5721.280 |
7334.847 |
9711.703 |
|
|
|
|
|
|
Long-term borrowings |
3187.528 |
2947.380 |
2767.520 |
|
Short term borrowings |
2068.198 |
2221.242 |
946.254 |
|
Current maturities of
long-term debts |
236.724 |
596.909 |
203.381 |
|
Total
borrowings |
5492.450 |
5765.531 |
3917.155 |
|
Debt/Equity
ratio |
0.960 |
0.786 |
0.403 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
21696.005 |
28258.203 |
27731.475 |
|
|
|
30.246 |
(1.864) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
21696.005 |
28258.203 |
27731.475 |
|
Profit/ (Loss) |
1100.635 |
1614.201 |
1703.217 |
|
|
5.07
% |
5.71
% |
6.14
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
645.811 |
45.811 |
|
(b) Reserves & Surplus |
|
9852.557 |
7982.933 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Minority interest |
|
35.926 |
34.007 |
|
Total
Shareholders’ Funds (1) + (2) |
|
10534.294 |
8062.751 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2767.520 |
2947.380 |
|
(b) Deferred tax liabilities
(Net) |
|
39.951 |
25.651 |
|
(c) Other long term
liabilities |
|
2.515 |
12.401 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
2809.986 |
2985.432 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
946.254 |
2221.242 |
|
(b) Trade payables |
|
3080.901 |
3219.324 |
|
(c) Other current liabilities |
|
664.257 |
966.337 |
|
(d) Short-term provisions |
|
1012.880 |
993.405 |
|
Total
Current Liabilities (4) |
|
5704.292 |
7400.308 |
|
|
|
|
|
|
TOTAL |
|
19048.572 |
18448.491 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4531.471 |
4396.569 |
|
(ii) Intangible Assets |
|
3.242 |
2.810 |
|
(iii) Capital work-in-progress |
|
805.450 |
396.929 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
443.696 |
409.189 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
149.760 |
137.895 |
|
(e) Other Non-current assets |
|
102.004 |
39.810 |
|
Total
Non-Current Assets |
|
6035.623 |
5383.202 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
4850.446 |
4270.310 |
|
(c) Trade receivables |
|
5506.465 |
6010.657 |
|
(d) Cash and cash equivalents |
|
649.730 |
856.785 |
|
(e) Short-term loans and
advances |
|
2006.308 |
1927.537 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
13012.949 |
13065.289 |
|
|
|
|
|
|
TOTAL |
|
19048.572 |
18448.491 |
|
|
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
28515.956 |
29202.933 |
|
|
Other Income |
|
265.544 |
290.710 |
|
|
TOTAL
|
|
28781.500 |
29493.643 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
20495.704 |
20439.324 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(401.726) |
379.311 |
|
|
Employees benefits expense |
|
1320.051 |
1181.950 |
|
|
CSR expenditure |
|
29.814 |
14.970 |
|
|
Other expenses |
|
3219.908 |
3575.956 |
|
|
TOTAL |
|
24663.751 |
25591.511 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
4117.749 |
3902.132 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
460.190 |
529.913 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3657.559 |
3372.219 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
875.400 |
776.445 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
2782.159 |
2595.774 |
|
|
|
|
|
|
|
Less |
TAX |
|
982.644 |
895.076 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
1799.515 |
1700.698 |
|
|
|
|
|
|
|
|
PROFIT
(LOSS) OF MINORITY INTEREST |
|
(2.116) |
(2.866) |
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
|
1797.399 |
1697.832 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
451.48 |
426.47 |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last four 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF
COMPANY’S AFFAIRS:
The Company has made profit during the financial year 2015-16 and hence, the financial position of company is satisfactory. The company is hopeful that the market will pick up in the future years and the Company will gain more in near future.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
LONG TERM
BORROWING |
|
|
|
Loans repayable on demand |
2514.398 |
2493.062 |
|
Total |
2514.398 |
2493.062 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G82804550 |
100166412 |
HDFC BANK LIMITED |
19/03/2018 |
- |
700000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
G69711299 |
100139167 |
ICICI BANK LIMITED |
05/10/2017 |
- |
750000000.0 |
ICICI BANK TOWER,
NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
|
3 |
G02519494 |
100023744 |
IDBI BANK LIMITED |
08/04/2016 |
- |
205000000.0 |
IDBI TOWER, WORLD TRADE
COMPLEXCUFFE PARADE,MUMBAIMH400005IN |
|
4 |
C29561065 |
10429532 |
HDFC BANK LIMITED |
22/04/2013 |
01/09/2014 |
1200000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
B65403362 |
10208255 |
STANDARD CHARTERED
BANK |
25/02/2010 |
09/10/2012 |
750000000.0 |
ABHIJIT II, GROUND
FLOOR,NEAR MITHAKHALI SIX ROADAHMEDABADGJ380006IN |
|
6 |
G69573079 |
10097978 |
IDBI BANK LIMITED |
29/03/2008 |
05/12/2017 |
2052500000.0 |
IDBI TOWERWTC
COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
7 |
A02325090 |
10015403 |
THE SURAT PEOPLE'S
CO.OP BANK LTD. |
10/07/2006 |
- |
20000000.0 |
VASUDHARA BHAVAN,
TIMALIAWAD, NANPURASURATGJ395001IN |
|
8 |
Y10262132 |
90160885 |
STATE BANK OF
INDIA |
24/02/1996 |
30/12/1996 |
50000000.0 |
SALABAT PURASURATGJIN |
|
9 |
Y10438512 |
90315433 |
GUJARAT STATE
FINANCIAL CORPORATION |
21/03/1995 |
- |
9000000.0 |
JALDARSHAN
BUILDINGASHRAM ROADAHMEDABADGJIN |
|
10 |
Y10267507 |
90166260 |
CANARA BANK |
17/01/1994 |
19/10/1994 |
5000000.0 |
PATEL CHAMBERSNANPURASURATGJ395001IN |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Guarantees issued by the Company’s Bankers on behalf of the Company - Bank of Baroda |
0.000 |
9.824 |
|
- IDBI Bank |
127.327 |
78.426 |
|
Disputed Excise Duty and Other demands |
14.188 |
1.173 |
|
Disputed Gujarat VAT demands |
4.145 |
12.935 |
|
Income Tax demands where the cases are pending at various stages of appeal with the authorities |
9.256 |
14.098 |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Emission reduction equipment
- Vehicles
- Computer equipments
Intangible assets
- Computer software
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 66.02 |
|
|
1 |
INR 92.73 |
|
Euro |
1 |
INR 81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
YES |
|
--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.