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|
|
%20PRIVATE%20LIMITED%20-%20506059%2025-Apr-2018_files/image002.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20506059%2025-Apr-2018_files/image004.jpg)
%20PRIVATE%20LIMITED%20-%20506059%2025-Apr-2018_files/image005.gif)
MIRA INFORM REPORT
|
Report No. : |
506059 |
|
Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
COSMOS IMPEX (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Cosmos House, 85/2, Atladra, Padra Road, Vadodara – 390012, Gujarat |
|
Tel. No.: |
91-265-3927000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
10.01.1994 |
|
|
|
|
Com. Reg. No.: |
04-021035 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 7.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29255GJ1994PTC021035 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0894002716 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAACC7621C1Z9 |
|
|
|
|
TIN No.: |
24190101833 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC7621C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
[Registered activity and also Confirmed by management] |
|
|
|
|
No. of Employees
: |
30 (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 : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1994. It is a manufacturer of CNC Vertical Machining Centers and Grinding Machines with Machine Tool Accessories. For the financial year 2017, the company has achieved 67.04% growth in its revenue as compared to previous year revenue and has maintained decent profitability margin of 6.29% during the year under review. The sound financial profile of the company is marked by adequate networth base along with negligible debt level. The company has favourable Earning Per Share (EPS) of INR 86.90 against a face value (FV) of INR 10. The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. Business is active. Payment seems to be usually 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
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 25.04.2018
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 : |
Mrs. Smita Vilkan |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-265-3927000 |
|
Date : |
25.04.2018 |
LOCATIONS
|
Registered Office : |
Cosmos House, 85/2, Atladra, Padra Road, Vadodara – 390012, Gujarat,
India |
|
Tel. No.: |
91-265-3927000 (30 Lines) / 265-3927023 / 25 |
|
Fax No.: |
91-265-3927001 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
Plot No. 68/B, Sigil India Compound, Atladra, Padra Road, Vadodara –
390012, Gujarat, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Nimish Arvindbhai Shah |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
36, Greenpark Society, Makarpura Road, Vadodara – 390010, Gujarat, India |
||||||||||||||||
|
Date of Birth/Age : |
15.07.1962 |
||||||||||||||||
|
Date of Appointment : |
10.01.1994 |
||||||||||||||||
|
DIN No.: |
00372897 |
||||||||||||||||
|
Other directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Nagesh Velaga |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
2/3 Abhaay Villa, Bill Chapad Road, Bill Vadodara – 391410, Gujarat, India |
||||||||||||||||
|
Date of Birth/Age : |
01.03.1963 |
||||||||||||||||
|
Date of Appointment : |
10.01.1994 |
||||||||||||||||
|
DIN No.: |
00373006 |
||||||||||||||||
|
Other directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Rajesh Satishbhai Pradhan |
||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||
|
Address : |
Spandan Flat-103 First Floor, Plot No.2 Amrakunj Society, Opposite Productivity Road, Vadodara – 390007, Gujarat, India |
||||||||||||||||
|
Date of Birth/Age : |
24.09.1962 |
||||||||||||||||
|
Date of Appointment : |
15.03.1997 |
||||||||||||||||
|
DIN No.: |
00534607 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Bina Jaysukh Khambhaita |
||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||
|
Address : |
C-10, Samrajya Duplex Nr, Akota Garden Munjmahuda Road, Vadodara – 390020, Gujarat, India |
||||||||||||||||
|
Date of Birth/Age : |
10.01.1966 |
||||||||||||||||
|
Date of Appointment : |
17.09.2009 |
||||||||||||||||
|
DIN No.: |
02739562 |
||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mrs. Smita Vilkan |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Nimish Arvindbhai Shah |
|
91875 |
|
Nagesh Velaga |
|
118750 |
|
Prabhaben Shah |
|
25000 |
|
Arvind B. Shah |
|
35000 |
|
Veenita Shah |
|
91875 |
|
Neetu Velaga |
|
75000 |
|
Rajesh Pradhan |
|
30000 |
|
Abhishek N. Velaga |
|
75000 |
|
Bina Khambaita |
|
22500 |
|
Aayush Nagesh Velaga |
|
80000 |
|
Aditya Nimish Shah |
|
52500 |
|
Master Tejas Nimish Shah |
|
52500 |
|
|
|
|
|
Total |
|
750000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20506059%2025-Apr-2018_files/image006.gif)
USINESS DETAILS
|
Line of Business
: |
[Registered activity and also Confirmed by management] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|||||
|
Products : |
|
||||
|
Countries : |
China |
||||
|
|
|
||||
|
Imports : |
|||||
|
Products : |
Machinery Parts |
||||
|
Countries : |
Taiwan |
||||
|
|
|
||||
|
Terms : |
|||||
|
Selling : |
Advance Payment and L/C |
||||
|
|
|
||||
|
Purchasing : |
L/C |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Manufacturer
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Ambalal Shah and Company Chartered Accountants |
|
Address : |
08, Bell-Evista, Race Course, Vadodara – 390007, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABUPJ1970B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
INR 10/- each |
INR 7.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
INR 10/- each |
INR 7.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.500 |
7.500 |
7.500 |
|
(b) Reserves &
Surplus |
341.928 |
277.500 |
246.728 |
|
(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) |
349.428 |
285.000 |
254.228 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
11.717 |
2.380 |
9.520 |
|
(b) Deferred tax
liabilities (Net) |
12.548 |
11.654 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
8.664 |
11.591 |
|
(d) long-term provisions |
0.000 |
0.000 |
8.664 |
|
Total Non-current
Liabilities (3) |
24.265 |
22.698 |
29.775 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
44.592 |
48.757 |
47.066 |
|
(b) Trade payables |
148.718 |
135.574 |
73.755 |
|
(c) Other current
liabilities |
67.803 |
30.884 |
32.262 |
|
(d) Short-term provisions |
45.928 |
25.407 |
19.676 |
|
Total Current Liabilities
(4) |
307.041 |
240.622 |
172.759 |
|
|
|
|
|
|
TOTAL |
680.734 |
548.320 |
456.762 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
183.950 |
173.684 |
177.299 |
|
(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 |
54.082 |
54.123 |
50.832 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.040 |
1.025 |
0.799 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
239.072 |
228.832 |
228.930 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
187.221 |
140.741 |
89.036 |
|
(c) Trade receivables |
70.660 |
47.689 |
44.326 |
|
(d) Cash and cash
equivalents |
132.684 |
99.339 |
63.666 |
|
(e) Short-term loans and
advances |
40.934 |
23.051 |
24.300 |
|
(f) Other current assets |
10.163 |
8.668 |
6.504 |
|
Total Current Assets |
441.662 |
319.488 |
227.832 |
|
|
|
|
|
|
TOTAL |
680.734 |
548.320 |
456.762 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1035.425 |
619.863 |
507.522 |
|
|
Other Income |
9.066 |
8.208 |
6.575 |
|
|
TOTAL |
1044.491 |
628.071 |
514.097 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
646.131 |
351.570 |
275.0650 |
|
|
Purchases of
Stock-in-Trade |
100.085 |
82.244 |
78.1100 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.125 |
(4.219) |
(2.4710) |
|
|
Employees benefits
expense |
111.757 |
92.190 |
72.2210 |
|
|
Other expenses |
67.011 |
41.455 |
39.0020 |
|
|
Exceptional
items |
0.040 |
0.000 |
0.0280 |
|
|
TOTAL |
925.149 |
563.240 |
461.955 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
119.342 |
64.831 |
52.142 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
8.356 |
8.903 |
6.610 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
110.986 |
55.928 |
45.532 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.965 |
10.001 |
10.522 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
100.021 |
45.927 |
35.010 |
|
|
|
|
|
|
|
Less |
TAX |
34.849 |
15.156 |
10.807 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
65.172 |
30.771 |
24.203 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
145.181 |
106.479 |
|
|
TOTAL IMPORTS |
NA |
145.181 |
106.479 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
86.89 |
41.03 |
32.27 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
2000.000 (Due to business
growth) |
The above information has been parted by Ms. Smita Virkan
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 flows from (used in) operations |
89.974 |
57.429 |
7.471 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
55.125 |
42.273 |
(3.337) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
24.91 |
28.08 |
31.88 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
14.65 |
13.00 |
11.45 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
72.74 |
114.07 |
76.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.64 |
0.46 |
0.59 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.65 |
0.37 |
0.29 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.47 |
0.44 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.16 |
0.18 |
0.22 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.88 |
0.84 |
0.68 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.53 |
0.61 |
0.70 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
14.28 |
7.28 |
7.89 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
6.29 |
4.96 |
4.77 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.57 |
5.61 |
5.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
18.65 |
10.80 |
9.52 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.44 |
1.33 |
1.32 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.83 |
0.74 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.51 |
0.52 |
0.56 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.51 |
6.82 |
7.54 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.44 |
1.33 |
1.32 |
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 |
7.500 |
7.500 |
7.500 |
|
Reserves & Surplus |
246.728 |
277.500 |
341.928 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
254.228 |
285.000 |
349.428 |
|
|
|
|
|
|
Long Term borrowings |
9.520 |
2.380 |
11.717 |
|
Short Term borrowings |
47.066 |
48.757 |
44.592 |
|
Total
borrowings |
56.586 |
51.137 |
56.309 |
|
Debt/Equity
ratio |
0.223 |
0.179 |
0.161 |
%20PRIVATE%20LIMITED%20-%20506059%2025-Apr-2018_files/image007.gif)
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
|
507.522 |
619.863 |
1035.425 |
|
|
|
22.135 |
67.041 |
%20PRIVATE%20LIMITED%20-%20506059%2025-Apr-2018_files/image008.gif)
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
|
507.522 |
619.863 |
1035.425 |
|
Profit |
24.203 |
30.771 |
65.172 |
|
|
4.77% |
4.96% |
6.29% |
%20PRIVATE%20LIMITED%20-%20506059%2025-Apr-2018_files/image009.gif)
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
7.500 |
7.500 |
|
(b) Reserves &
Surplus |
|
275.232 |
245.455 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(d) Minority Interest |
|
1.778 |
1.919 |
|
Total Shareholders’ Funds
(1) + (2) |
|
284.510 |
254.874 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2.380 |
9.520 |
|
(b) Deferred tax
liabilities (Net) |
|
12.929 |
12.904 |
|
(c) Other long term liabilities |
|
8.665 |
8.664 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
23.974 |
31.088 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
48.757 |
48.523 |
|
(b) Trade payables |
|
135.702 |
73.844 |
|
(c) Other current
liabilities |
|
31.467 |
32.525 |
|
(d) Short-term provisions |
|
25.512 |
19.828 |
|
Total Current Liabilities
(4) |
|
241.438 |
174.720 |
|
|
|
|
|
|
TOTAL |
|
549.922 |
460.682 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
188.749 |
193.801 |
|
(ii) Intangible Assets |
|
0.113 |
0.140 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
39.303 |
36.012 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.248 |
1.052 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
229.413 |
231.005 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
47.774 |
44.504 |
|
(c) Trade receivables |
|
140.741 |
89.458 |
|
(d) Cash and cash
equivalents |
|
99.547 |
64.345 |
|
(e) Short-term loans and
advances |
|
23.777 |
24.865 |
|
(f) Other current assets |
|
8.670 |
6.505 |
|
Total Current Assets |
|
320.509 |
229.677 |
|
|
|
|
|
|
TOTAL |
|
549.922 |
460.682 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
619.786 |
510.358 |
|
|
Other Income |
|
8.235 |
7.841 |
|
|
TOTAL |
|
628.021 |
518.199 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
350.991 |
270.552 |
|
|
Purchases of Stock-in-Trade |
|
82.244 |
77.981 |
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(4.220) |
(0.415) |
|
|
Employees benefits expense |
|
92.243 |
73.688 |
|
|
Other expenses |
|
41.518 |
41.163 |
|
|
Exceptional Items |
|
0.000 |
0.028 |
|
|
Extraordinary Items |
|
0.000 |
0.009 |
|
|
TOTAL |
|
562.776 |
463.006 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
65.245 |
55.193 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
9.025 |
7.797 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
56.220 |
47.396 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
11.467 |
11.592 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
44.753 |
35.804 |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
15.117 |
12.272 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
|
29.636 |
23.532 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
39.51 |
31.38 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF BUSINESS OPERATIONS AND FUTURE
PROSPECTS:
Production and Profitability:
The Company is involved in manufacture of CNC Vertical Machining Centres and Grinding Machines with Machine Tool Accessories. It also has trading segment importing and marketing CNC Machines from Taiwan and Japan. The Company has been maintain a very healthy profitability level. During the year under review, on Standalone basis, the Company earned Net Profit of INR 65.172 Million as against Net Profit of INR 30.771 Million of the previous year showing Substantial growth 111% in Net Profit.
Sales:
The Company has its own marketing and services setup across India and west Asia and is able to market directly across industry segments. Across India through its offices at Delhi, Pune, Jamshedpur, Chennai, Coimbatore, Mumbai.
During the year, on Standalone basis, the Company generated Gross Total revenue of INR 1044.491 Million as against INR 628.070 Million of the previous year, showing impressive growth of 66 % in Total Income .
Marketing and Market environment:
The company’s marketing strength of over 20years, has helped in promotion of company s’ products very strongly and gained market share in its manufacturing machines inspire of very tough competition from established players. The capex cycle is now easing and the market environment is slowly improving.
Future Prospects including constraints
affecting due to Government policies:
With the upcoming focus on make in India and major growth in FDI in industry, the Company expects very good prospects for company products into future and they are aiming to continue achieving substantial growth in to the next year. Ever the export market is opening up in a good way for their products.
Constraints affecting the Business:
The major constraint at present is very subdued capex cycle in India and across the world and high interest in India. However, the Company views thesame easing now and the scope is expected to improve substantially.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Deposits |
1.034 |
1.034 |
|
Loans and advances from related parties |
5.243 |
0.000 |
|
Total |
6.277 |
1.034 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G59451344 |
10322778 |
ICICI BANK LIMITED |
02/12/2011 |
07/10/2017 |
- |
206000000.0 |
ICICI BANK TOWER, NEAR
CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
|
2 |
G59714246 |
10228652 |
UNIVERSAL
TRUSTEESHIP SERVICES LIMITED |
28/06/2010 |
09/10/2017 |
- |
235600000.0 |
D-214, KANAKIA
ZILLION, L.B.S MARGKURLA BEST BUS DEPOT, BKC ANNEXE, KURLA (WEST)MUMBAIMA400070IN |
|
3 |
A85951382 |
10236109 |
3I INFOTECH
TRUSTEESHIP SERVICES LIMITED |
18/03/2010 |
- |
- |
27300000.0 |
3RD TO 6TH FLOOR,
INTERNATIONAL INFOTECH PARK,TOWER NO.5, VASHI RAILWAY STATION COMPLEX,
VASHINAVI MUMBAIMH400703IN |
|
4 |
A86969813 |
10136418 |
ICICIC BANK
LIMITED |
02/12/2008 |
- |
21/05/2010 |
10000000.0 |
LANDMARKRACE
COURSEVADODARAGJ390007IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 66.36 |
|
|
1 |
INR 92.51 |
|
Euro |
1 |
INR 81.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
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.