|
|
|
MIRA INFORM REPORT
|
Report No. : |
505089 |
|
Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
IJM CONCRETE PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H. No.1-89/1, Plot No 42, 43, 2nd Floor,
R and R Residency, Kavuri Hills, Phase 1, Siddhi Vinayak Nagar, Madhapur,
Hyderabad - 500081, Telangana |
|
Tel. No.: |
91-40-23114661/62/63/64/ 40056911 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
15.07.2004 |
|
|
|
|
Com. Reg. No.: |
36-043668 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 70.958 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14200TG2004PTC043668 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable (As informed by the management that firm
does not have export and import) |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
36AABCI2896J1Z7 |
|
|
|
|
TIN No: |
36710118834 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI2896J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Dealer of Ready
Mixed Concrete and Aggregates. (Registered activity and also confirmed by management) |
|
|
|
|
No. of Employees
: |
25 (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “IPCB (Mauritius) Limited” and it was
incorporated in the year 2004. The subject is engaged as manufacturer and dealer of cement, lime,
plasters, quarrying, mining, etc. For the financial year 2017, the company has reported a marginal
decline in its revenue as compared to its previous year and has incurred
operational losses during the year. Rating takes into account, the satisfactory financial risk profile
marked by adequate networth base and strong debt protection metrics. Rating continue to derive strength from its established track record
of its business operation backed by its well-experienced management team
along with strong financial support from its holding entity. However, these rating strengths gets partially offset by its
continuous operational losses due to its presence in highly competitive
cement industry. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing
at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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 (GENERAL DETAILS)
|
Name : |
Mrs. Smita |
|
Designation : |
HR and Admin Department |
|
Contact No.: |
91-8108596004 |
|
Date : |
23.04.2018 |
91-22-27617187 (Incorrect number)
LOCATIONS
|
Registered / Head Office : |
H. No.1-89/1, Plot No 42, 43, 2nd Floor,
R and R Residency, Kavuri Hills, Phase 1, Siddhi Vinayak Nagar, Madhapur,
Hyderabad - 500081, Telangana, India |
|
Tel. No.: |
91-40-23114661/62/63/64/ 40056911/ 43408888 |
|
Fax No.: |
91-40-23114669 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
Sy. No. 18/2, Seneerkuppam Village, Poonamalle Taluk, Avadi Road, Thiruvallur District, Chennai - 600 056, Tamilnadu, India |
|
Tel. No.: |
91-44-29042024/25 |
|
Fax No.: |
91-44-29042023 |
|
|
|
|
Factory 2: |
38B, 38B-1, Doddanekundi Industrial Area, Phase - 1,
Mahadevapura Post, Whitefield, Bangalore - 560 048, Karnataka, India |
|
Tel. No.: |
91-80-41226740/1/2/3 |
|
Fax No.: |
91-80-41226739 |
|
|
|
|
Factory 3: |
Plot No C-448, TTC Industrial Area, Turbhe MIDC, Pawane,
Navi Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-27889248 |
|
Fax No.: |
91-22-27889288 |
DIRECTORS
As on 31.03.2017
|
Name : |
Tan Khuan Beng |
|
Designation : |
Director |
|
Address : |
C2-03-7, Menara Komanwel, C2 Vista Komanwel Bukit Jalil, 57000 Seri Petaling Kuala Lumpur 57000 Malaysia |
|
Date of Appointment : |
30.08.2017 |
|
DIN No: |
07911067 |
|
|
|
|
Name : |
Lau Liang See |
|
Designation : |
Additional Director |
|
Address : |
Lot 16507 Taman Dinding 32400 Ayer Tawar Perak 32400 Malaysia |
|
Date of Appointment : |
25.09.2017 |
|
DIN No: |
07927949 |
|
|
|
|
Name : |
Mr. Tan Boon Leng |
|
Designation : |
Additional Director |
|
Address : |
1, Jalan Sungai Merbau, 32/79d, Bukit Kemuning Seksyen 32, 40460 Shah Alam 40460 Malaysia |
|
Date of Appointment : |
25.09.2017 |
|
DIN No: |
07939588 |
KEY EXECUTIVES
|
Name : |
Mr. Srinivas Vengala |
|
Designation : |
Company Secretary |
|
Address : |
H.No:1-3-1/A/38, Padmashali Colony, Bolakpur, Hyderabad-500080, Telangana, India |
|
Date of Appointment : |
26.09.2009 |
|
PAN No.: |
AGAPV4836D |
|
|
|
|
Name : |
Mrs. Smita |
|
Designation : |
HR and Admin Department |
|
|
|
|
Name : |
Prathap Satla and Associates |
|
Designation : |
Company Secretary |
|
Address : |
H.No.6-3-1238/ 15/ 1, Flat No.301, 3rd Floor, Elite
Heights, Somajiguda, Hyderabad – 500082, Telangana, India |
|
Mob. No: |
91-9866463289/ 7095492555/ 7095472555 |
|
Email: |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
ICPB (Mauritius) Limited, Mauritius |
|
7095811 |
|
Swarnandhra Roadcare, India |
|
1 |
|
Total |
|
7095812 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer and Dealer of Ready
Mixed Concrete and Aggregates.
(Registered activity and also confirmed by management) |
||||
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Products / Services
: |
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||||
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||||
|
Brand Names : |
Not Available |
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|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
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Exports : |
Not Divulged |
||||
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|
|
||||
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Imports : |
Not Divulged |
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|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Depend |
||||
|
|
|
||||
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Purchasing : |
Depend |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
25 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
BSR and Associates LLP Chartered Accountants |
|
Address : |
8-2-618/2, Reliance Humsafar, 4th Floor, Road No. 11, Banjara Hills, Hyderabad -500034, Telangana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
ICPB (Mauritius) Limited, Mauritius |
|
|
|
|
Joint Venture |
IJM-Aikya Joint Venture |
|
|
|
|
Ultimate Holding
Company |
IJM Corporation Berhad, Malaysia |
|
|
|
|
Other related
parties with whom transactions have taken place: |
|
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7095812 |
Equity Shares |
INR 10/- each |
INR 70.958 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
70.958 |
70.958 |
70.958 |
|
(b) Reserves and Surplus |
291.942 |
311.234 |
311.453 |
|
(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) |
362.900 |
382.192 |
382.411 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
2.500 |
15.000 |
|
(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 |
2.359 |
2.284 |
0.524 |
|
Total Non-current
Liabilities (3) |
2.359 |
4.784 |
15.524 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
156.909 |
203.833 |
139.305 |
|
(b) Trade
payables |
188.732 |
239.273 |
385.345 |
|
(c) Other
current liabilities |
82.841 |
49.446 |
77.230 |
|
(d) Short-term
provisions |
16.244 |
12.461 |
4.415 |
|
Total Current
Liabilities (4) |
444.726 |
505.013 |
606.295 |
|
|
|
|
|
|
TOTAL |
809.985 |
891.989 |
1004.230 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
163.981 |
199.951 |
257.790 |
|
(ii)
Intangible Assets |
0.000 |
0.005 |
0.032 |
|
(iii) Tangible assets
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
42.828 |
38.572 |
26.464 |
|
(d)
Long-term loans and advances |
86.810 |
83.930 |
56.819 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
293.619 |
322.458 |
341.105 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
28.568 |
31.856 |
42.677 |
|
(c) Trade
receivables |
380.019 |
424.743 |
505.844 |
|
(d) Cash and
bank balances |
14.089 |
8.603 |
13.487 |
|
(e)
Short-term loans and advances |
86.027 |
88.230 |
96.864 |
|
(f) Other
current assets |
7.663 |
16.099 |
4.253 |
|
Total
Current Assets |
516.366 |
569.531 |
663.125 |
|
|
|
|
|
|
TOTAL |
809.985 |
891.989 |
1004.230 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1484.920 |
1446.723 |
1846.991 |
|
|
Other Income |
12.849 |
14.431 |
7.360 |
|
|
TOTAL |
1497.769 |
1461.154 |
1854.351 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
920.704 |
892.173 |
1188.888 |
|
|
Purchases of
Stock-in-Trade |
0.041 |
0.696 |
1.962 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
4.371 |
7.247 |
14.789 |
|
|
Employee benefit expense |
98.341 |
99.110 |
111.097 |
|
|
Other expenses |
387.338 |
404.086 |
506.547 |
|
|
TOTAL |
1410.795 |
1403.312 |
1823.283 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
86.974 |
57.842 |
31.068 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.796 |
21.476 |
22.633 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
70.178 |
36.366 |
8.435 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
37.059 |
43.386 |
43.690 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
33.119 |
(7.020) |
(35.255) |
|
|
|
|
|
|
|
Less |
TAX |
11.595 |
(6.801) |
(10.193) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
21.524 |
(0.219) |
(25.062) |
|
|
|
|
|
|
|
|
SHARE
OF PROFIT (LOSS) OF ASSOCIATES |
(40.816) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
(19.292) |
(0.219) |
(25.062) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.03 |
(0.03) |
(3.53) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
12.500 |
12.500 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
111.566 |
24.377 |
(17.244) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
106.016 |
19.910 |
(21.678) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
93.41 |
107.16 |
99.96 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
3.91 |
3.41 |
3.65 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
74.82 |
97.81 |
118.11 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
3.04 |
1.82 |
0.73 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.53 |
0.29 |
0.12 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.55 |
0.58 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.43 |
0.57 |
0.44 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
1.23 |
1.32 |
1.59 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.45 |
0.52 |
0.67 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
5.18 |
2.69 |
1.37 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
1.45 |
(0.02) |
(1.36) |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
2.66 |
(0.02) |
(2.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
5.93 |
(0.06) |
(6.55) |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.16 |
1.13 |
1.09 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.10 |
1.06 |
1.02 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.45 |
0.43 |
0.38 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
2.21 |
3.08 |
2.35 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.16 |
1.13 |
1.09 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
70.958 |
70.958 |
70.958 |
|
Reserves & Surplus |
311.453 |
311.234 |
291.942 |
|
Net
worth |
382.411 |
382.192 |
362.900 |
|
|
|
|
|
|
Long-term borrowings |
15.000 |
2.500 |
0.000 |
|
Short term borrowings |
139.305 |
203.833 |
156.909 |
|
Current maturities of
long-term debts |
12.500 |
12.500 |
0.000 |
|
Total
borrowings |
166.805 |
218.833 |
156.909 |
|
Debt/Equity
ratio |
0.436 |
0.573 |
0.432 |
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 |
1846.991 |
1446.723 |
1484.920 |
|
|
|
(21.671) |
2.640 |
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 |
1846.991 |
1446.723 |
1484.920 |
|
Profit/ (Loss) |
(25.062) |
(0.219) |
21.524 |
|
|
(1.36
%) |
(0.02
%) |
1.45
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
70.958 |
70.958 |
|
(b) Reserves and Surplus |
291.935 |
297.588 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
362.893 |
368.546 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
0.000 |
2.500 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.484 |
2.425 |
|
Total Non-current
Liabilities (3) |
2.484 |
4.925 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short-term
borrowings |
156.909 |
203.833 |
|
(b) Trade
payables |
199.995 |
267.009 |
|
(c) Other
current liabilities |
43.742 |
51.050 |
|
(d) Short-term
provisions |
16.263 |
12.482 |
|
Total Current
Liabilities (4) |
416.909 |
534.374 |
|
|
|
|
|
TOTAL |
782.286 |
907.845 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1)
Non-current assets |
|
|
|
(a) Fixed
Assets |
|
|
|
(i)
Tangible assets |
167.786 |
213.743 |
|
(ii)
Intangible Assets |
0.000 |
0.005 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.119 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
42.828 |
38.572 |
|
(d)
Long-term loans and advances |
53.286 |
52.054 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
|
Total Non-Current
Assets |
263.900 |
304.493 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a) Current
investments |
0.000 |
0.000 |
|
(b)
Inventories |
41.976 |
51.112 |
|
(c) Trade
receivables |
407.776 |
505.888 |
|
(d) Cash and
bank balances |
20.590 |
9.436 |
|
(e)
Short-term loans and advances |
41.634 |
36.916 |
|
(f) Other
current assets |
6.410 |
0.000 |
|
Total
Current Assets |
518.386 |
603.352 |
|
|
|
|
|
TOTAL |
782.286 |
907.845 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Total
Revenue from operations |
1554.821 |
1657.367 |
|
|
Other Income |
13.494 |
12.071 |
|
|
TOTAL |
1568.315 |
1669.438 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
900.428 |
892.173 |
|
|
Purchases of
Stock-in-Trade |
41.521 |
64.934 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
12.600 |
8.591 |
|
|
Employee benefit expense |
105.422 |
110.788 |
|
|
Other expenses |
452.872 |
552.298 |
|
|
TOTAL |
1512.843 |
1628.784 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
55.472 |
40.654 |
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.796 |
21.476 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
38.676 |
19.178 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
44.381 |
46.926 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(5.705) |
(27.748) |
|
|
|
|
|
|
Less |
TAX |
11.595 |
(6.783) |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(17.300) |
(20.965) |
|
|
|
|
|
|
|
PROFIT
(LOSS) OF MINORITY INTEREST |
11.647 |
8.291 |
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
(5.653) |
(12.674) |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(2.44) |
(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 |
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 |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
NOTE: Registered office of the company has been
shifted from “1-90A, Plot No.20 and 21, RBI CLY, Madhapur, Hyderabad – 500081, Telangana, India,” to the present
address w.e.f. 30.12.2010
REVIEW OF OPERATIONS
During the year, the total revenue from operations of the Company is INR 1484.920 million as compared to the previous year revenue of INR 1446.723 million. The loss after tax for the year under review is INR (19.292) million as compared to the previous year loss after tax of INR (0.219) million.
The Company’s volumes and revenue was impacted by the currency demonetization which affected the property market in India. The volatility in raw material prices has also impacted the volumes and revenue. The Company is trying to improve the volumes with good margins from existing plants.
COMPANY OVERVIEW
The Company was incorporated on 15 July 2004 as a private limited company under the Companies Act, 1956. The principal activity of the Company is manufacturing of ready mixed concrete and aggregates.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
0.000 |
2.500 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
110.000 |
100.000 |
|
Working capital loans from banks |
46.909 |
103.833 |
|
Total |
156.909 |
206.333 |
|
Long-term Borrowings Term loans from HSBC bank aggregating to Nil disclosed under long-term borrowings Nil. and current maturities of long term debt Nil was secured by way of a corporate guarantee from Industrial Concrete Products (ICPB) Sdn, Berhad, holding Company of ICPB (Mauritius) Limited. The loans carried fixed interest rate which ranges between 11.25% p.a to 11.90 % p.a. The loans were repayable in 8 to 9 equal quarterly installments. The loan has been pre closed on 22 April 2016. Term loans from HSBC bank aggregating to INR 15.000 million disclosed under long-term borrowings year: INR 2.500 million and current maturities of long term debt INR 12.500 million was secured by way of a corporate guarantee from Industrial Concrete Products (ICPB) Sdn, Berhad, holding Company of ICPB (Mauritius) Limited. The loans carried fixed interest rate which ranges between 11.25% p.a to 11.90 % p.a. The loans were repayable in 8 to 9 equal quarterly installments. Short-term borrowings Term loans from bank is guaranteed by Industrial Concrete Products, Sdn, Berhad, holding company of ICPB (Mauritius) Limited. The loan is for a period of 180 days and carries an interest rate which ranges between 8.75% p.a. to 9.50% p.a. Term loans from bank is guaranteed by Industrial Concrete Products, Sdn, Berhad, holding company of ICPB (Mauritius) Limited.The loan is for a period of 180 days and carries an interest rate which ranges between 8.50% p.a. to 9.50% p.a. Cash credit facility comprise of vendor finance and overdraft facilities. These facilities are guaranteed by Industrial Concrete Products, Sdn Berhad, holding company of ICPB (Maurius) Limited and carry an interest rate which ranges between 8.80% p.a. to 10.40% p.a. computed on a monthly basis, based on actual amount of facility utilised. They have a repayment period of three months. Cash credit facility comprise of vendor finance and overdraft facilities. These facilities are guaranteed by Industrial Concrete Products, Sdn Berhad, holding company of ICPB (Maurius) Limited and carry an interest rate which ranges between 9.50% p.a. to 10.75% p.a.computed on a monthly basis, based on actual amount of facility utilised. They have a repayment period of three months. |
||
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B90520784 |
10266948 |
HDFC BANK LIMITED |
05/01/2011 |
- |
30/11/2013 |
3190000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
B90476482 |
10271980 |
ICICI BANK LIMITED |
28/02/2011 |
- |
21/11/2013 |
10334139.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
3 |
B37040888 |
10163275 |
ICICI BANK LIMITED |
30/04/2009 |
- |
12/04/2012 |
23919000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Office equipment
- Leasehold improvements
- Plant and
Machinery
- Vehicle
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 : |
AKY |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.