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%20PRIVATE%20LIMITED%20-%20505685_MIRA%2026-Apr-2018_files/image005.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20505685_MIRA%2026-Apr-2018_files/image016.jpg)
%20PRIVATE%20LIMITED%20-%20505685_MIRA%2026-Apr-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
505685 |
|
Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
GLASS WALL SYSTEMS ( |
|
|
|
|
Registered
Office : |
503/504, 5th Floor, A Wing, Marathon Futurex, Mafatlal Mills Compound,
N.M. Joshi Marg, Lower Parel (East), Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-61033456 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
27.08.2010 |
|
|
|
|
Com. Reg. No.: |
11-207187 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 194.382 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2010PTC207187 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN / CST No.: |
27630794371 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AADCG9248G1ZD |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCG9248G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company engaged in business of erection and commissioning of architectural facade and glass wall curtain systems. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 2002 as a as a partnership concern
with the name Glass Wall System and later during the August 2010 it got
converted into private limited company with the present name. The company is engaged in business of erection and commissioning of
architectural facade and glass wall curtain systems. It is an established
company having fine track. For the financial year ended 2017, revenue of the company has
marginally declined. However, it has witnessed a growth in its profit and has
achieved fair profit margin at 4.88% (approximately). The company possesses sound financial risk profile marked by healthy
networth base along with comfortable debt level and favorable gap between
trade payables to its trade receivables. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular and as per commitments. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Rating= BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
07.04.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating= A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
07.04.2018 |
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 26.04.2018
IBBI (Insolvency and Bankruptcy Board of
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-22-61033456)
LOCATIONS
|
Registered Office : |
503/504, 5th Floor, A Wing, Marathon Futurex, Mafatlal Mills Compound,
N.M. Joshi Marg, Lower Parel (East), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-61033456 |
|
Fax No.: |
91-22-61033401 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located
at : ·
Ambernath ·
Gurugram |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Jawahar Hariram Hemrajani |
|
Designation : |
Director |
|
Address : |
1003, Jimmy Tower CHS Limited, Sector - 4, Vashi, Navi Mumbai –
400705, |
|
Date of Birth/Age : |
15.08.1963 |
|
Date of Appointment : |
27.08.2010 |
|
PAN No.: |
AAAPH4147F |
|
DIN No.: |
00740482 |
|
|
|
|
Name : |
Mr. Kamlesh Arjun Choudhari |
|
Designation : |
Director |
|
Address : |
1002/1003, |
|
Date of Birth/Age : |
13.06.1974 |
|
Date of Appointment : |
27.08.2010 |
|
PAN No.: |
AABPC0207C |
|
DIN No.: |
00740645 |
|
|
|
|
Name : |
Mr. Prakash Manohar Kulkarni |
|
Designation : |
Director |
|
Address : |
Flat No. G-703 and 803, Rohan Garima, Shivajinagar,
Pune-411016, |
|
Date of Birth/Age : |
09.06.1947 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
00019652 |
|
|
|
|
Name : |
Dimitrius John D'mello |
|
Designation : |
Director |
|
Address : |
B-103, Astar Dsouza House, I C Colony, |
|
Date of Birth/Age : |
09.02.1964 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
00837714 |
|
|
|
|
Name : |
Mr. Vishal Kumar Gupta |
|
Designation : |
Director |
|
Address : |
Apartment No. C 303, |
|
Date of Birth/Age : |
02.05.1973 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
02368313 |
|
|
|
|
Name : |
Mrs. Sunita Kamlesh Choudhari |
|
Designation : |
Director |
|
Address : |
1002/1003 Kalinga Building A-Wing, 10th Floor, Nirmal Nagar, Off Link Road, Mulund (West), Mumbai-400080, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1975 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
02987268 |
|
|
|
|
Name : |
Mr. Eshan Jawahar Hemrajani |
|
Designation : |
Director |
|
Address : |
Flat No -1003, |
|
Date of Birth/Age : |
12.03.1990 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
02987292 |
|
|
|
|
Name : |
Mr. Prakash Bagla |
|
Designation : |
Director |
|
Address : |
C2008,Oberoi Splendor, |
|
Date of Birth/Age : |
11.11.1975 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
03043874 |
KEY EXECUTIVES
|
Name : |
Mrs. Deepali Mansukhlal Nirmal |
|
Designation : |
Secretary |
|
Address : |
A/19, Sunder Nagar CHS Limited, Opposite Blue Empire, New Link Road, Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Date of Birth/Age : |
11.06.1985 |
|
Date of Appointment
: |
10.04.2013 |
|
PAN No.: |
AIIPN2314A |
|
|
|
|
Name : |
Mr. Amit Goel |
|
Designation : |
Chief Finance Officer |
|
Address : |
Flat No. 201, Dosti Daffodil, A Wing, Do Antop Hill,
Wadala (East) Mumbai-400037, |
|
Date of Birth/Age : |
20.03.1978 |
|
Date of Appointment
: |
02.03.2016 |
|
PAN No.: |
AHOPG9792N |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Equity Shareholders |
No. of Shares |
|
Jawahar Hariram Hemrajani |
6497217 |
|
Kamlesh Arjun Choudhari |
6497217 |
|
Vinne Jawahar Hemrajani |
73871 |
|
Sunita Kamlesh Choudhari |
184676 |
|
Eshan Jawahar Hemrajani |
57671 |
|
Amit Jawahar Hemrajani |
53134 |
|
IL and FS Trust Company Limited (Trustee of Business
Excellence Trust II- India Business Excellence Fund II), |
1052904 |
|
|
566950 |
|
|
|
|
Total |
14983640 |
|
Names of Class B Equity Shareholders |
No. of Shares |
|
IL and FS Trust Company Limited (Trustee of Business
Excellence Trust II- India Business Excellence Fund II), |
647941 |
|
|
3806654 |
|
|
|
|
Total |
4454595 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
68.75 |
|
Public/Other than promoters [Body corporate] |
31.25 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20505685_MIRA%2026-Apr-2018_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
The company engaged in business of erection and commissioning of architectural facade and glass wall curtain systems. [Registered Activity] |
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Products / Services
: |
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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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|
||||
|
Imports : |
Not Divulged |
||||
|
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||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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|
Bankers : |
·
Bank of |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
S R B C and Company LLP Chartered Accountants |
|
Address : |
14th
Floor, The Ruby 29, Senapati Bapat Marg, Dadar (West), Mumbai – 400028, |
|
PAN No.: |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other Related Parties : |
· GWS Engineers and Fabricators Private Limited (U99999MH1993PTC071793) · M.J. Coaters Private Limited (U27204MH2003PTC142570) · Murano Veneers Private Limited (U74999MH2013PTC243698) · Techne Infra India Private Limited (U45400MH2010PTC210961) · M. J. Enterprises · Arham Engineers |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21545405 |
Equity Shares |
INR 10/- each |
INR 215.454 Million |
|
4454595 |
Class B Equity Shares |
INR 10/- each |
INR 44.546 Million |
|
|
|
|
|
|
|
Total |
|
INR 260.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14983640 |
Equity Shares |
INR 10/- each |
INR 149.836 Million |
|
4454595 |
Class B Equity Shares |
INR 10/- each |
INR 44.546 Million |
|
|
|
|
|
|
|
Total |
|
INR 194.382
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 |
194.382 |
204.836 |
204.836 |
|
(b) Reserves & Surplus |
1285.587 |
1161.069 |
1055.125 |
|
(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) |
1479.969 |
1365.905 |
1259.961 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.267 |
1.550 |
0.613 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
22.858 |
19.490 |
14.591 |
|
Total Non-current
Liabilities (3) |
23.125 |
21.040 |
15.204 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
779.787 |
780.720 |
487.934 |
|
(b) Trade
payables |
660.224 |
686.181 |
637.274 |
|
(c) Other
current liabilities |
708.405 |
707.642 |
781.291 |
|
(d) Short-term
provisions |
7.718 |
19.571 |
26.300 |
|
Total Current
Liabilities (4) |
2156.134 |
2194.114 |
1932.799 |
|
|
|
|
|
|
TOTAL |
3659.228 |
3581.059 |
3207.964 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
447.171 |
442.240 |
486.695 |
|
(ii)
Intangible Assets |
2.594 |
0.048 |
0.129 |
|
(iii)
Capital work-in-progress |
17.074 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
56.974 |
10.326 |
0.600 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
322.692 |
87.212 |
21.232 |
|
(e) Other
Non-current assets |
294.903 |
283.307 |
142.610 |
|
Total Non-Current
Assets |
1141.408 |
823.133 |
651.266 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
244.230 |
256.533 |
315.151 |
|
(c) Trade
receivables |
889.023 |
911.038 |
637.272 |
|
(d) Cash
and cash equivalents |
282.310 |
223.035 |
376.851 |
|
(e)
Short-term loans and advances |
49.170 |
367.740 |
432.543 |
|
(f) Other
current assets |
1053.087 |
999.580 |
794.881 |
|
Total
Current Assets |
2517.820 |
2757.926 |
2556.698 |
|
|
|
|
|
|
TOTAL |
3659.228 |
3581.059 |
3207.964 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2338.796 |
2545.655 |
2318.367 |
|
|
Other Income |
31.096 |
66.506 |
53.689 |
|
|
TOTAL |
2369.892 |
2612.161 |
2372.056 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1063.790 |
1240.025 |
1073.959 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(19.059) |
17.109 |
11.392 |
|
|
Employee benefit expense |
270.810 |
247.925 |
205.011 |
|
|
CSR expenditure |
0.050 |
0.300 |
0.825 |
|
|
Other expenses |
714.792 |
747.189 |
701.962 |
|
|
Prior period items |
0.000 |
0.000 |
(2.336) |
|
|
TOTAL |
2030.383 |
2252.548 |
1990.813 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
339.509 |
359.613 |
381.243 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
129.091 |
119.750 |
72.388 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
210.418 |
239.863 |
308.855 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
37.187 |
49.743 |
41.018 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
173.231 |
190.120 |
267.837 |
|
|
|
|
|
|
|
Less |
TAX |
59.167 |
70.937 |
93.065 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
114.064 |
119.183 |
174.772 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
10.637 |
37.652 |
37.178 |
|
|
TOTAL EARNINGS |
10.637 |
37.652 |
37.178 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
26.693 |
45.171 |
0.000 |
|
|
Components and spare
parts |
0.000 |
1.516 |
0.000 |
|
|
Capital Goods |
28.267 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
54.960 |
46.687 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
- Basic |
7.48 |
7.95 |
11.66 |
|
|
- Diluted |
5.84 |
6.13 |
9.42 |
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 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
190.514 |
(146.870) |
86.077 |
|
Net cash flows from (used in) operating activities |
117.368 |
(250.422) |
(15.363) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
138.74 |
130.63 |
100.33 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.63 |
2.79 |
3.64 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
226.53 |
201.98 |
216.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.39 |
1.40 |
1.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.73 |
0.81 |
0.78 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.59 |
0.61 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.53 |
0.57 |
0.39 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.46 |
1.61 |
1.53 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.32 |
0.32 |
0.39 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.63 |
3.00 |
5.27 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
4.88 |
4.68 |
7.54 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.12 |
3.33 |
5.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
7.71 |
8.73 |
13.87 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.17 |
1.26 |
1.32 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.05 |
1.14 |
1.16 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.40 |
0.38 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.01 |
3.81 |
2.38 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.17 |
1.26 |
1.32 |
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 |
204.836 |
204.836 |
194.382 |
|
Reserves & Surplus |
1055.125 |
1161.069 |
1285.587 |
|
Net
worth |
1259.961 |
1365.905 |
1479.969 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
487.934 |
780.720 |
779.787 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
487.934 |
780.720 |
779.787 |
|
Debt/Equity
ratio |
0.387 |
0.572 |
0.527 |
%20PRIVATE%20LIMITED%20-%20505685_MIRA%2026-Apr-2018_files/image022.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 |
2318.367 |
2545.655 |
2338.796 |
|
|
|
9.804 |
(8.126) |
%20PRIVATE%20LIMITED%20-%20505685_MIRA%2026-Apr-2018_files/image024.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 |
2318.367 |
2545.655 |
2338.796 |
|
Profit/ (Loss) |
174.772 |
119.183 |
114.064 |
|
|
7.54
% |
4.68
% |
4.88
% |
%20PRIVATE%20LIMITED%20-%20505685_MIRA%2026-Apr-2018_files/image026.gif)
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
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 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The company, a company registered under Companies Act, 1956, is a leading facade engineering company in India engaged in providing complete solutions in architectural facade and glass wall curtains.
REVIEW OF BUSINESS OPERATIONS:
During the year, the Company have achieved turnover of INR 2369.892 million as compared to the previous year's turnover of INR 2612.161 million and has posted a profit of INR 114.064 million as against INR 119.183 million in the previous financial year. The marginal slowdown in revenue is due to concentrated efforts of management in improving cash flow which will help the Company in setting stability in the Organization and future growth.
Demonetization of INR 500 and INR 1000 currency notes in November, 2016 by the Central Government caused further delays in ongoing projects. Despite of said slow down and challenges, the Company has successfully demonstrated value addition. Post demonetization, transparency have been increased in the market which helped the Company in future planning of the project effectively.
During the year, they have started their regional office in Bengaluru, Karnataka and have acquired few commercial projects in Southern Region. Further, the Company has been recognized as "Façade Contractor of the year" for the Consecutive fifth year by Construction week India Awards.
There is a strong focus on reducing inventory and organization restructuring to strengthen organization for future challenges. The Company is focusing on diversifying its order book across geographies and project types. Company's ability to deliver complex designs and work with international consultants and architects has enabled it to be the first choice for all marquee buildings in India.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G43272335 |
100095860 |
IDFC BANK LIMITED |
29/04/2017 |
- |
- |
30000000.0 |
NAMAN CHAMBERS BRANCH, GROUND FLOOR, NAMAN CHAMBERC-32, G-BLOCK, BANDRA KURLA COMPLEX,MUMBAIMH400051IN |
|
2 |
G50697127 |
100117462 |
PNB HOUSING FINANCE LIMITED |
26/04/2017 |
- |
- |
19280774.0 |
9TH FLOOR ANTRIKSH BHAWAN22 K G MARGNEW DELHIMH400069IN |
|
3 |
G50696921 |
100117468 |
PNB HOUSING FINANCE LIMITED |
26/04/2017 |
- |
- |
21304932.0 |
9TH FLOOR ANTRIKSH BHAWAN22 K G MARGNEW DELHIMH400069IN |
|
4 |
G50697101 |
100117471 |
PNB HOUSING FINANCE LIMITED |
26/04/2017 |
- |
- |
22535457.0 |
9TH FLOOR ANTRIKSH BHAWAN22 K G MARGNEW DELHIMH400069IN |
|
5 |
G50548130 |
100119520 |
PNB HOUSING FINANCE LIMITED |
29/03/2017 |
- |
- |
22009515.0 |
9TH FLOOR ANTRIKSH BHAWAN22 K G MARGNEW DELHIMH400069IN |
|
6 |
G50548510 |
100119523 |
PNB HOUSING FINANCE LIMITED |
29/03/2017 |
- |
- |
21169528.0 |
9TH FLOOR ANTRIKSH BHAWAN22 K G MARGNEW DELHIMH400069IN |
|
7 |
G50696954 |
100119524 |
PNB HOUSING FINANCE LIMITED |
29/03/2017 |
- |
- |
20554957.0 |
9TH FLOOR ANTRIKSH BHAWAN22 K G MARGNEW DELHIMH400069IN |
|
8 |
C68789981 |
10600033 |
STANDARD CHARTERED BANK |
06/10/2015 |
- |
- |
40000000.0 |
NARAIN MANZIL,23 BARAKHAMBA ROADNEW DELHIDL110001IN |
|
9 |
G47473756 |
10375797 |
BANK OF INDIA |
06/08/2012 |
19/06/2017 |
- |
2500000000.0 |
MUMBAI MID CORPORATE BRANCH, MEZZANINE FLOOR,BOI BUILDING, 70/80, M. G. ROAD, FORT,MUMBAIMH400080IN |
|
10 |
G47471784 |
10257776 |
BANK OF INDIA |
22/11/2010 |
19/06/2017 |
- |
2500000000.0 |
MUMBAI MID CORPORATE BRANCH, MEZZANINE FLOOR,BOI BUILDING, 70/80, M. G. ROAD, FORT,MUMBAI MH400001IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 records 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 : |
ARC |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
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.