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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

504237

Report Date :

23.04.2018

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

DAMAN GANGA BOARD MILLS PRIVATE LIMITED (w.e.f. 26.09.1989)

 

 

Formerly Known As :

VAPI SPICE MILLS PRIVATE LIMITED

 

 

Registered Office :

104, Jagruti Bldg. No. 1 CTS No 334, Village Kanheri Carter Road No. 3, Borivali (East), Mumbai – 400066, Maharashtra

Tel. No.:

91-22-28010950 / 65273026

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

26.09.1974

 

 

Com. Reg. No.:

11-017798

 

 

Capital Investment / Paid-up Capital :

INR 20.400 Million

 

 

CIN No.:

[Company Identification No.]

U01110MH1974PTC017798

 

 

IEC No.:

[Import-Export Code No.]

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACD1550B

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACD1550B1ZC

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Manufacturer of M.G. Kraft Papers and Boards. (Registered activity and also Confirmed by management)

 

 

No. of Employees :

60 (Approximately) 

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Maximum Credit Limit :

USD 81000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1974 and it is engaged as manufacturer of M.G kraft paper and board importer of raw materials.

 

For the financial year 2017, the company shows a drop in its revenue during the year and reflecting negative result driven by high operating expenses.

 

The company possesses moderate financial risk profile marked by low reserve level and stretched liquidity position.

 

Rating further gets constrained on account of vulnerability of the company’s profitability to any increase in raw material prices and volatility in foreign exchange rates.

 

However, these rating weakness gets partially offset by its long standing experience of its management team paper manufacturing industry.

 

Payment seems to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealing with some caution.

 

 

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

 

 

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 23.04.2018

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Deepak

Designation :

Key Executive

Contact No.:

91-22-28010950

Date :

14.04.2018

 

 

LOCATIONS

 

Registered Office :

104, Jagruti Building, No. 1 CTS, No 334, Village Kanheri, Carter Road No. 3, Borivali (East), Mumbai-400066, Maharashtra 

Tel. No.:

91-22-28010950 / 65273026

Fax No.:

91-22-28010950

E-Mail :

info@damanganga.com

damanganga@damanganga.com

Website :

http://www.damanganga.com

 

 

Admin Office / Factory / Branch Office :

254-256, Selvas Road, P.O. Box No. 65, GIDC, Vapi - 396 195, Gujarat, India

Tel. No.:

91-260-2400523 / 2422523 / 2432522

Fax No.:

91-260-2430522

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Ashok Kumar Shah

Designation :

Director

Address :

31, Alamoana Premises Co-Operative Society Limited B/H Khar Telephone Exchange, Khar (West), Mumbai-400054, Maharashtra, India 

Date of Birth/Age :

05.11.1957

Date of Appointment :

27.03.1989

DIN No.:

00185467

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U21010MH1981PTC024405

DAMAN GANGA PAPER MILLS PRIVATE LIMITED

13/05/1981

-

U63040MH1994PTC076747

SIMBA TOURS AND TRAVELS PRIVATE LIMITED

23/02/1994

-

U23200MH1994PTC080760

DAMAN GANGA PETROCHEMICALS PRIVATE LIMITED

02/09/1994

-

U21010MH1995PLC094242

DAMAN GANGA PAPERS LIMITED

26/09/2006

-

 

 

Name :

Mr. Banjul Shah

Designation :

Director

Address :

P. No 514/515, Chanod Via Vapi, Taluka Pardi, Vapi-396191, Gujarat, India

Date of Birth/Age :

30.09.1988

Date of Appointment :

29.04.2014

DIN No.:

02577932

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U21098GJ1982PTC005566

DAMAN GANGA TUBES AND CORES PRIVATE LIMITED

01/10/2013

-

U21010MH1981PTC024405

DAMAN GANGA PAPER MILLS PRIVATE LIMITED

30/09/2009

-

U21010MH1991PTC062200

DAMAN GANGA PAPER CONVERTORS PRIVATE LIMITED

18/07/2011

-

U37100GJ2011PTC066686

UNITED RECYCLERS PRIVATE LIMITED

08/08/2011

-

 

 

Name :

Mr. Jitendra Lalji Shah

Designation :

Whole-Time Director

Address :

Plot No. 606, H-II, Chanod Housing Sector, GIDC, Vapi Valsad-396195, Gujarat, India

Date of Birth/Age :

21.03.1963

Date of Appointment :

22.05.1987

DIN No.:

00185329

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U21098GJ1982PTC005566

DAMAN GANGA TUBES AND CORES PRIVATE LIMITED

10/09/2014

-

U21010MH1981PTC024405

DAMAN GANGA PAPER MILLS PRIVATE LIMITED

22/09/2014

-

U21010MH1991PTC062200

DAMAN GANGA PAPER CONVERTORS PRIVATE LIMITED

22/09/2014

-

U23200MH1994PTC080760

DAMAN GANGA PETROCHEMICALS PRIVATE LIMITED

01/09/2004

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Deepak

Designation :

Key Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2017

 

Names of Shareholders (Equity Share)

 

No. of Shares

Harshida A. Shah

 

131900

Ashokkumar H. Shah

 

137100

Banjul Ashokkumar Shah

 

138000

Jitendra Lalji Shah

 

30000

Rushit Jitendra Shah

 

1500

Ashay Jitendra Shah

 

1500

Total

 

440000

 

Names of Shareholders (Preference Share)

 

No. of Shares

Daman Ganga Paper Mills Private Limited, India

 

1600000

Total

 

1600000

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2017

 

Category

Percentage

Promoter – (Individual/ Hindu Undivided Family – Indian)

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of M.G. Kraft Papers and Boards. (Registered activity and also Confirmed by management)

 

 

Products :

Item Code No.

Product Description

48042900

Kraft Paper

 

Item Code No.

Product Description

21015

Sale of Kraft Paper / Board Paper

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Countries :
  • African Countries
  • Kenya

 

 

Imports :

 

Products :

Raw Material

Countries :
  • United States
  • Dubai
  • Muscat

 

 

Terms :

 

Selling :

Advance Payment, NEFT, RTGS

 

 

Purchasing :

Advance Payment, NEFT, RTGS

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Accutex Marketing

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

  • A-one lnfotech Service
  • Dynamic Computers
  • Dynamic lnfotech
  • Precitech Laboratories Private Limited
  • Roomy Enterprises
  • Allwyan Gears
  • Ambuja Cement Limited
  • GIDC Drainage Line
  • Jalaram Tempo Services
  • Maheshwari Traders
  • Mamta Enterprises
  • Khushi Air Components
  • Pankaj Steel
  • Om Lubricants
  • Om Tyres House
  • Shree Mahalaxmi Stationery
  • Shree Mahalaxmi Engineering Works
  • Vapi Green Enviro Ltd
  • Vora Engineering Works

 

 

Customers :

Wholesalers, Retailers

 

Reference :

Vasanti Enterprises

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

  • Agarwal Paper Products
  • Arya Industries(Piparia)
  • Bhilosa Industries Private Limited
  • Chhabaria Textile Prossesors Private Limited
  • C.J. Corporation
  • Daman Ganga Packaging Solution LLP
  • Excel Tubes and Cones(Vapi)
  • Fibro Paper Tube Private Limited
  • Gajanan Paper Tube
  • Gopal Krishna Papers Private Limited
  • Hindustan Tubes
  • Krishna Packaging Industries
  • Madhav Cores
  • O.S.E. Packaging Private Limited (Karjan)
  • Packwell Industries
  • Prompt Printing Press Private Limited
  • Responsive Industries Limited
  • Shreeji Paper Convertor
  • Sun Poly films
  • Tirth Packaging
  • Vitrag Packaging Industries

 

 

No. of Employees :

60 (Approximately) 

 

 

Bankers :

Bank Name

State Bank of India

Branch

Vapi Town Industrial Branch, Valsad – 396195, Gujarat, India

Person Name (With Designation)

--

Contact Number

91-20-2401496 (Ringing)

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

ICICI Bank Limited

(Secured against Mercedes Benz)

1.523

5.019

(The loan on 96.79 Lacs is guaranteed by Directors of Mr. A. H. Shah, Mr. J. L. Shah)

(Terms of Repayment for Mercedes Benz 35 Monthly Installments of

INR 0.320 Million each)

 

 

SBPP Co.op. Bank Limited

(Secured against Tractor Loan)

0.221

0.611

(The loan of INR 1.114 Million is guaranteed by Directors of Mr. A. H. Shah

(Terms of Repayment for Tractor 36 Monthly Installments of INR 0.036 Million each)

 

 

ICICI Bank Limited

(Secured against BMW)

3.085

4.635

 (The loan of INR 5.000 Million is guaranteed by Directors of Mr. A. H. Shah) (Terms of Repayment for BMW 36 Monthly Installments of INR 0.160 Million)

 

 

ICICI Bank Limited

(Secured against Maruti Swift)

0.367

0.535

(The loan of INR 0.550 Million is guaranteed by Directors of Mr. A. H. Shah) (Terms of Repayment for Maruti Swift 36 Monthly Installments of INR 0.018 Million)

 

 

SBI (VAPI) CC Account

(Secured by entire present and future current assets of the Company Collaterally secured by Land and Building, Plant and Machinery of the Company and residential house of one of Director and personal guarantee of directors and their family members)

14.754

12.860

 

 

 

Less:- Current Maturities

 

 

ICICI Bank (Mercedes Benz)

(1.523)

(3.841)

SBPP Co-Operative Bank (Tractor)

(0.221)

(0.435)

ICICI Bank (BMW)

(1.918)

(1.918)

ICICI Bank (Maruti Swift)

(0.211)

(0.212)

SBI (Vapi) CC Account

(14.754)

(12.860)

 

 

 

Total

1.323

4.394

 

Auditors :

 

Name :

D D Desai and Associates

Chartered Accountants

Address :

G/2, Sunshine Apartment, Ratanji Wadi, Valsad-396001, Gujarat, India

Tel. No.:

91-2632-243737

E-Mail :

dddesaica@yahoo.co.in

PAN N Income-tax PAN of auditor or auditor's firm :

AARPD1313N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

After 30.09.2017

 

Authorised Capital : INR 30.000 Million

 

Issued, Subscribed & Paid-up Capital : INR 20.700 Million

 

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

900000

Equity Shares

INR 10/- each

INR 9.000 Million

2100000

Preference Shares

INR 10/- each

INR 21.000 Million

 

 

 

INR 30.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

440000

Equity Shares

INR 10/- each

INR 4.400 Million

1600000

Preference Shares

INR 10/- each

INR 16.000 Million

 

 

 

INR 20.400 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

20.400

20.400

20.400

(b) Reserves & Surplus

7.792

20.736

18.714

(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)

28.192

41.136

39.114

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1.323

4.394

5.650

(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)

1.323

4.394

5.650

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3.161

2.166

9.575

(b) Trade payables

57.074

39.330

30.499

(c) Other current liabilities

25.515

28.308

25.357

(d) Short-term provisions

3.406

2.766

2.801

Total Current Liabilities (4)

89.156

72.570

68.232

 

 

 

 

TOTAL

118.671

118.100

112.996

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

26.344

29.212

24.222

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

10.145

0.257

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.045

0.045

0.045

(c) Deferred tax assets (net)

1.209

0.137

0.293

(d)  Long-term Loan and Advances

5.753

5.799

4.964

(e) Other Non-current assets

2.724

5.294

4.256

Total Non-Current Assets

46.220

40.744

33.780

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

17.962

10.440

17.801

(c) Trade receivables

46.674

60.384

55.617

(d) Cash and cash equivalents

0.270

0.203

0.207

(e) Short-term loans and advances

7.076

5.851

5.105

(f) Other current assets

0.469

0.478

0.486

Total Current Assets

72.451

77.356

79.216

 

 

 

 

TOTAL

118.671

118.100

112.996

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

436.659

462.666

493.458

 

Other Income

1.771

1.275

1.402

 

TOTAL

438.430

463.941

494.860

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed- Raw Material

325.526

332.922

359.597

 

Cost of Materials Consumed- Store and Spares

4.956

4.305

4.107

 

Cost of Materials Consumed -  Packing Materials

2.047

2.174

2.965

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(0.100)

0.556

0.410

 

Employees benefits expense

22.114

20.341

23.965

 

Other expenses

89.524

93.047

91.249

 

TOTAL

444.067

453.345

482.293

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

(5.637)

10.596

12.567

 

 

 

 

 

Less

FINANCIAL EXPENSES

2.575

2.638

2.256

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(8.212)

7.958

10.311

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

5.813

5.246

3.288

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(14.025)

2.712

7.023

 

 

 

 

 

Less

TAX

(1.081)

0.691

0.723

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(12.944)

2.021

6.300

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(6.35)

0.99

3.09

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

 

 

 

Sundaram Finance

0.000

0.000

0.296

ICICI Bank (Mercedes Benz)

1.523

3.841

3.164

SBPP Co-Operative Bank (Tractor)

0.221

0.435

0.349

ICICI Bank (BMW)

1.918

1.918

0.000

ICICI Bank (Maruti Swift)

0.211

0.212

0.000

SBI (Vapi) CC Account

14.754

12.860

13.863

Total

18.627

19.266

17.672

 

 

 

 

Cash generated from operations

16.942

22.482

27.613

Net cash flow from operating activity

18.550

10.374

25.498

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

39.01

47.64

41.14

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

9.36

7.66

8.87

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

62.65

42.30

30.36

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

(0.31)

1.01

0.71

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

(0.15)

0.36

0.52

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.76

0.65

0.65

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.16

0.16

0.39

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

3.16

1.76

1.74

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.29

0.72

0.62

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

(2.19)

4.02

5.57

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

(2.96)

0.44

1.28

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

(10.91)

1.71

5.58

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(45.91)

4.91

16.11

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.81

1.07

1.16

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.61

0.92

0.90

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.24

0.35

0.35

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.22

0.32

0.75

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.81

1.07

1.16

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

20.400

20.400

20.400

Reserves & Surplus

18.714

20.736

7.792

Net worth

39.114

41.136

28.192

 

 

 

 

Long Term borrowings

5.650

4.394

1.323

Short Term borrowings

9.575

2.166

3.161

Current Maturities of Long term debt

17.672

19.266

18.627

Total borrowings

32.897

25.826

23.111

Debt/Equity ratio

0.841

0.628

0.820

 

 

 

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

493.458

462.666

436.659

 

 

(6.240)

(5.621)

 

 

 

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

493.458

462.666

436.659

Profit / (Loss)

6.300

2.021

(12.944)

 

1.28%

0.44%

(2.96%)

 

 

 

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

No

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

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

Litigations that the firm/promoter involved in

--

32

Market information

--

33

Payments terms

Yes

34

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from 101/102, Rizvi Nagar, "C" Wing, S. V. Road, Santacruz (West), Mumbai-400054, Maharashtra India to the present address w.e.f. 14.03.2008

 

 

FINANCIAL HIGHLIGHTS AND OPERATION

 

The Key highlights pertaining to the business of the company for the year 2016-17 and period subsequent there to have been given hereunder:

 

• The Total Revenue of the Company has been reduced from INR 463.941 Million to INR 438.430 Million during the period.

 

• The Company witnessed in Loss Before Tax at INR 14.025 Million in Financial Year 2016-17 as against Profit Before Tax of INR 2.712 Million in the previous year

 

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Short-term borrowings

 

 

Loans and advances from related parties

 

 

From Directors

 

 

Shri Ashok H. Shah

3.161

2.166

 

 

 

Total

3.161

2.166

 

 

INDEX OF CHARGES:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G72078850

100141008

SARDAR BHILADWALA PARDI PEOPLE'S CO-OP. BANK LTD.

08/12/2017

22/12/2017

-

20000000.0

Killa-Pardi, Valsad – 396125, Gujarat, India

2

G69281418

100138464

SARDAR BHILADWALA PARDI PEOPLE'S CO-OP. BANK LTD.

29/11/2017

-

-

50000000.0

Killa-Pardi, Valsad – 396125, Gujarat, India

3

G72790959

80037201

STATE BANK OF INDIA

26/10/1993

16/03/2005

12/12/2017

16000000.0

Vapi Industrial Township Branch, G.I.D.C. Valsad, Vapi – 396195, Gujarat, India

 

 

 

FIXED ASSETS

 

  • Land
  • Factory Building
  • Road
  • Housing Quarter
  • Plant and Equipment
  • Electric Fitting
  • Motor Car
  • Cycle
  • Office Equipment
  • Fire Extinguisher
  • Air Conditioner
  • Projector
  • Typewriter
  • Tractor
  • Furniture and Fixture    

 

 

 

 

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 66.02

UK Pound

1

INR 92.73

Euro

1

INR 81.46

 

 

INFORMATION DETAILS

 

Information Gathered by :

SRY

 

 

Analysis Done by :

NSG

 

 

Report Prepared by :

KJL

 

 

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

NO

--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)

 

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.