|
|
|
MIRA INFORM REPORT
|
Report No. : |
505968 |
|
Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
OLYMPIA INDUSTRIES
LIMITED (w.e.f. 24.02.1993) |
|
|
|
|
Formerly Known
As : |
DOUBLE A PETRO PRODUCTS LIMITED
(w.e.f. 22.11.1989) DOUBLE A TWISTERS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
C-205, Synthofine
Industrial Estate, Behind Virwani Industrial Estate, Goregaon (East), Mumbai
– 400 063, |
|
Tel. No.: |
91-22-42138333 |
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|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
10.11.1987 |
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|
|
|
Com. Reg. No.: |
11-045248 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 52.786 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L52100MH1987PLC045248 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Trader and Exporter of FMCG Products. [Confirmed by Management] |
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|
|
|
No. of Employees
: |
280 (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 |
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|
|
Payment Behaviour : |
Usually Correct |
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|
Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1987 and it is engaged as trader and exporter of FMCG products. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operation backed by its well-experienced management team. The company has its share price trading at around INR 118.40 on BSE as on 24th April 2018 as against its face value of INR 10. As per quarterly financials of December 2017, the company has achieved a sales turnover of INR 320.07 million and reported fair profit margin of nearly 1.5%. However, these rating are partially offset by highly competitive consumer retail market with presence of large players and unorganized sector marked by profit margins exposed to fluctuations in the input prices. Payment seems to be usually 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.
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
31-03-2016.
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Laxmi Narayan |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-42138333 |
|
Date : |
24.04.2018 |
Given Number [91-22-56973044] is not working
LOCATIONS
|
Registered Office : |
C-205, Synthofine
Industrial Estate, Behind Virwani Industrial Estate, Goregaon (East), Mumbai –
400 063, |
|
Tel. No.: |
91-22-42138333 |
|
Fax No.: |
91-22-42138332 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Block No.284, Plot No.4 and 5, Mota Borasara, Kim, District |
|
|
|
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Factory 2 : |
S. No.441/2, 4, 6, Village Mahim, Palghar, Thane District – 401 404, |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Navin Kumar Pansari |
|
Designation : |
Managing Director |
|
Address : |
D-401 Vikas Park Chs Ltd., |
|
Date of Appointment : |
30.09.2015 |
|
DIN No.: |
00085711 |
|
|
|
|
Name : |
Mr. Pravin Kumar Shishodiya |
|
Designation : |
Director |
|
Address : |
A/G-189 Scheme No. 54, Indore-452001, Madhya Pradesh, India |
|
Date of Appointment : |
23.07.2015 |
|
DIN No.: |
03011429 |
|
|
|
|
Name : |
Ms. Anisha Gautam Parmar |
|
Designation : |
Director |
|
Address : |
403, Walchand Plaza, Geeta Nagar, Bhayandar (West), Thane-401101 , Maharashtra, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
07141598 |
|
|
|
|
Name : |
Mr. Naresh Parsharam Waghchaude |
|
Designation : |
Director |
|
Address : |
B-12 United Chs Ltd. Bhamasha Apt. Ram Nagar Road, Opposite Bhujale Talav, Bhandarwada, Malad (West), Mumbai-400064, Maharashtra, India |
|
Date of Appointment : |
23.07.2015 |
|
DIN No.: |
07240631 |
|
|
|
|
Name : |
Mr. Kamlesh Ramanlal Shah |
|
Designation : |
Director |
|
Address : |
A/703, Shah Arcade, Rani Sati Marg, Near Western Express Highway, Malad (East), Mumbai-400097, Maharashtra, India |
|
Date of Appointment : |
29.12.2016 |
|
DIN No.: |
07657503 |
KEY EXECUTIVES
|
Name : |
Mrs. Radhika Gajendra Jharolla |
|
Designation : |
Company Secretary |
|
Address : |
507/D-2, Kamala Park, 60 Feet Road, Opposite Icici Bank, Bhayandar (West), Thane-401101, Maharashtra, India |
|
Date of Appointment : |
29.09.2014 |
|
PAN No.: |
AHYPJ9670L |
|
|
|
|
Name : |
Mr. Ramjeevan Vishwanath Khedia |
|
Designation : |
Chief Finance Officer |
|
Address : |
C-504, Pradnya Chs Ltd, M.H.B Colony , Gorai Road, Borivali West, Mumbai-400091, Maharashtra, India |
|
Date of Appointment : |
15.02.2018 |
|
PAN No.: |
AQCPK9715E |
|
|
|
|
Name : |
Mr. Laxmi Narayan |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2018
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter &
Promoter Group |
4328357 |
71.86 |
|
|
(B) Public |
1695213 |
28.14 |
|
|
Grand Total |
6023570 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
|
0.00 |
|
|
Individuals/Hindu
undivided Family |
1931937 |
32.07 |
|
|
ANURAG NAVINKUMAR
PANSARI |
750001 |
12.45 |
|
|
NAVIN KUMAR
PANSARI |
681935 |
11.32 |
|
|
CHIRAG NAVINKUMAR
PANSARI |
1 |
0.00 |
|
|
ALOK PANSARI |
500000 |
8.30 |
|
|
Any Other
(specify) |
2396420 |
39.78 |
|
|
AGRANKIT SYNFAB
PRIVATE LIMITED |
820000 |
13.61 |
|
|
CHITRAKAR TEXTILES
PRIVATE LTD |
348705 |
5.79 |
|
|
EKAMAT SYNTHETICS PRIVATE
LTD |
848420 |
14.09 |
|
|
JAMJIR POLYESTER
PRIVATE LIMITED |
379295 |
6.30 |
|
|
Sub Total A1 |
4328357 |
71.86 |
|
|
A2) Foreign |
|
0.00 |
|
|
A=A1+A2 |
4328357 |
71.86 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
B1) Institutions |
|
0.00 |
|
|
Mutual Funds/ |
3150 |
0.05 |
|
|
Sub Total B1 |
3150 |
0.05 |
|
|
B2) Central Government/
State Government(s)/ President of India |
|
0.00 |
|
|
B3)
Non-Institutions |
|
0.00 |
|
|
Individual share
capital Up to INR 0.200 million |
976979 |
16.22 |
|
|
Individual share
capital in excess of INR 0.200 million |
249899 |
4.15 |
|
|
MEENAKSHI KANOONGO |
249899 |
4.15 |
|
|
Any Other
(specify) |
465185 |
7.72 |
|
|
Clearing Members |
1255 |
0.02 |
|
|
Trusts |
5 |
0.00 |
|
|
Bodies Corporate |
293025 |
4.86 |
|
|
Non-Resident
Indian (NRI) |
166005 |
2.76 |
|
|
Others |
140 |
0.00 |
|
|
LLP |
666 |
0.01 |
|
|
HUF |
4089 |
0.07 |
|
|
MANGAL KESHAV
CAPITAL LTD |
230814 |
3.83 |
|
|
Sub Total B3 |
1692063 |
28.09 |
|
|
B=B1+B2+B3 |
1695213 |
28.14 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Exporter of FMCG Products. [Confirmed by Management] |
|
|
|
|
Products : |
FMCG Products |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
FMCG Products |
|
Countries : |
USA |
|
|
|
|
Imports : |
|
|
Products : |
FMCG Products |
|
Countries : |
· China Hong Kong USA |
|
|
|
|
Terms : |
|
|
Selling : |
Others [NEFT, RTGS] |
|
|
|
|
Purchasing : |
Others [NEFT, RTGS] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
280 (Approximately) |
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Bankers : |
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|
||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
CPM and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other related
parties where common control exist : |
· Agrankit Synfab Private Limited Chitrakar Textiles Private Limited Ekamat Synthetics Private Limited Jamjir Polyester Private Limited Tirupati Biz Link LLP |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10750000 |
Equity Shares |
INR 10/- each |
INR 107.500 Million |
|
250000 |
11% Cumulative Reedeemable Preference Share |
INR 10/- each |
INR 2.500 Million |
|
|
|
|
|
|
|
Total |
|
INR 110.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5078570 |
Equity Shares |
INR 10/- each |
INR 50.786
Million |
|
200000 |
11% Cumulative Reedeemable Preference Share |
INR 10/- each |
INR 2.000
Million |
|
|
|
|
|
|
|
Total |
|
INR 52.786 Million |
During the year ended 31st March 2017, Share Forfeited of INR 3,82,460 has been transferred to the Capital Reserve of the company
Details of Equity
Shareholders holding more than 5% shares of the company:
|
Name of Shareholder |
31.03.2017 |
|
|
No. of shares |
% Held |
|
|
Ekamat Synthetics Private Limited |
768420 |
15.13 |
|
Anurag Pansari |
750001 |
14.77 |
|
Navin Pansari |
681935 |
13.43 |
|
Jamjir Polyester Private Limited |
379295 |
7.47 |
|
Agrankit Synfab Private Limited |
355000 |
6.99 |
|
Chitrakar Textiles Private Limited |
348705 |
6.87 |
The Reconciliation of
the Number of Equity Shares Outstanding is set out below
|
|
No. of shares |
|
Equity shares at the beginning of the year |
3423570 |
|
Add: Equity Shares alloted on conversion of Share Warrants |
1655000 |
|
Equity shares at the end of the year |
5078570 |
Details of 11%
Cumulative Redeemable Preference Shareholders holding more than 5% of total
shares of the Company :
|
Name of Shareholder |
31.03.2017 |
|
|
No. of shares |
% Held |
|
|
Alok Pansari |
200000 |
100.00 |
The Reconciliation of
the No. of 11% Cumulative Redeemable
|
Particulars |
31.03.2017 |
|
No. of shares |
|
|
Preference share at the beginning of the year |
200000 |
|
Issued during the year |
-- |
|
Preference shares at the end of the year |
200000 |
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 |
52.786 |
36.618 |
32.618 |
|
(b) Reserves & Surplus |
233.841 |
129.994 |
53.030 |
|
(c) Money received against share warrants |
10.631 |
29.250 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
297.258 |
195.862 |
85.648 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
5.747 |
5.841 |
4.186 |
|
(b) Deferred tax liabilities (Net) |
2.370 |
2.324 |
2.087 |
|
(c)
Other long term liabilities |
2.570 |
2.570 |
2.570 |
|
(d)
long-term provisions |
0.916 |
0.500 |
0.384 |
|
Total
Non-current Liabilities (3) |
11.603 |
11.235 |
9.227 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
113.678 |
121.173 |
28.690 |
|
(b)
Trade payables |
379.545 |
227.839 |
254.395 |
|
(c)
Other current liabilities |
24.553 |
12.406 |
27.145 |
|
(d)
Short-term provisions |
13.838 |
8.753 |
0.641 |
|
Total
Current Liabilities (4) |
531.614 |
370.171 |
310.871 |
|
|
|
|
|
|
TOTAL |
840.475 |
577.268 |
405.746 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
30.374 |
23.054 |
15.947 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.013 |
5.929 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
11.674 |
23.975 |
22.198 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
46.061 |
52.958 |
38.145 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
555.382 |
394.556 |
316.158 |
|
(c)
Trade receivables |
128.831 |
25.482 |
18.959 |
|
(d)
Cash and cash equivalents |
16.007 |
12.645 |
3.515 |
|
(e)
Short-term loans and advances |
92.600 |
63.742 |
12.085 |
|
(f)
Other current assets |
1.594 |
27.885 |
16.884 |
|
Total
Current Assets |
794.414 |
524.310 |
367.601 |
|
|
|
|
|
|
TOTAL |
840.475 |
577.268 |
405.746 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2464.445 |
1882.283 |
1225.369 |
|
|
|
Other Income |
4.121 |
4.753 |
2.113 |
|
|
|
TOTAL |
2468.566 |
1887.036 |
1227.482 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
2256.232 |
1550.542 |
1330.625 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(161.129) |
(77.554) |
(295.492) |
|
|
|
Employees benefits expense |
62.408 |
31.022 |
9.907 |
|
|
|
Other expenses |
226.008 |
324.608 |
126.234 |
|
|
|
Extraordinary Items |
0.000 |
6.511 |
0.000 |
|
|
|
TOTAL |
2383.519 |
1835.129 |
1171.274 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
85.047 |
51.907 |
56.208 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.526 |
10.629 |
4.851 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
72.521 |
41.278 |
51.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
4.456 |
2.767 |
1.894 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
68.065 |
38.511 |
49.463 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
22.525 |
12.735 |
3.743 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
45.540 |
25.776 |
45.720 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Value of imports on CIF Basis |
14.566 |
2.491 |
0.000 |
|
|
TOTAL IMPORTS |
14.566 |
2.491 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic |
11.84 |
7.52 |
15.12 |
|
|
|
Diluted
|
7.56 |
7.35 |
15.12 |
|
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 |
(1.865) |
(132.703) |
(16.881) |
|
|
|
|
|
|
Net Cash from Operating activities |
(24.344) |
(145.200) |
(18.538) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
19.08 |
4.94 |
5.65 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
19.13 |
73.87 |
64.63 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
61.40 |
53.63 |
69.78 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.15 |
0.13 |
0.18 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.47 |
1.79 |
3.52 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.64 |
0.65 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.40 |
0.65 |
0.38 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.79 |
1.89 |
3.63 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.12 |
0.15 |
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
6.79 |
4.88 |
11.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.85 |
1.37 |
3.73 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.42 |
4.47 |
11.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.32 |
13.16 |
53.38 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.49 |
1.42 |
1.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.45 |
0.35 |
0.17 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.35 |
0.34 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.26 |
3.47 |
1.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.49 |
1.42 |
1.18 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
|
|
|
Market Value |
INR 118.40/- |
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 |
32.618 |
36.618 |
52.786 |
|
Reserves & Surplus |
53.030 |
129.994 |
233.841 |
|
Money received against share
warrants |
0.000 |
29.250 |
10.631 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
85.648 |
195.862 |
297.258 |
|
|
|
|
|
|
long-term borrowings |
4.186 |
5.841 |
5.747 |
|
Short term borrowings |
28.690 |
121.173 |
113.678 |
|
Total
borrowings |
32.876 |
127.014 |
119.425 |
|
Debt/Equity
ratio |
0.384 |
0.648 |
0.402 |
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 |
1225.369 |
1882.283 |
2464.445 |
|
|
|
53.609 |
30.929 |
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 |
1225.369 |
1882.283 |
2464.445 |
|
Profit/ (Loss) |
45.720 |
25.776 |
45.540 |
|
|
3.73% |
1.37% |
1.85% |
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) |
Yes |
|
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 |
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 |
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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G56407810 |
10616549 |
STATE BANK OF INDIA |
29/12/2015 |
22/09/2017 |
- |
250000000.0 |
SIR P. M ROAD, GRESHAM HOUSE,FORTMUMBAIMH400001IN |
|
2 |
B79321006 |
90163823 |
UNION BANK OF INDIA |
27/01/1999 |
- |
15/06/2013 |
15500000.0 |
NARIMAN POINT BRANCH; UNION ANK BHAVAN239; BACKBAY RECLAMATION; NARIMAN POINTBOMBAYMH400021IN |
|
3 |
B79362851 |
90166385 |
UNION BANK OF INDIA |
29/06/1995 |
25/07/1997 |
15/06/2013 |
18000000.0 |
NARIMAN POINT BRANCH; UNION BANK BHAVAN239; BACKBAY RECLAMATION; NARIMAN POINTMUMBAIMH400021IN |
|
4 |
B79320594 |
90163671 |
UNION BANK OF INDIA |
20/02/1998 |
27/01/1999 |
15/06/2013 |
7500000.0 |
NARIMAN POINT BRANCH; UNION ANK BHAVAN239; BACKBAY RECLAMATION; NARIMAN POINTBOMBAYMH400021IN |
|
5 |
B79319307 |
80052737 |
UNION BANK OF INDIA |
27/01/1999 |
- |
15/06/2013 |
114877000.0 |
NARIMAN POINT BRANCH, UNION BANK BHAVAN,239, VIDHAN BHAVAN MARG, NARIMAN POINT,MUMBAIMH400021IN |
|
6 |
B79321675 |
90166518 |
UNION BANK OF INDIA |
23/06/1997 |
25/07/1997 |
15/06/2013 |
8000000.0 |
MUMBAI MAIN OFFICE; UNION BANK BHAVAN239; BACKBAY RECLAMATION; NARIMAN POINTMUMBAIMH400021IN |
|
7 |
B79320297 |
90160947 |
UNION BANK OF INDIA |
30/03/1998 |
- |
15/06/2013 |
13000000.0 |
NARIMAN POINT BRANCH; UNION ANK BHAVAN239; BACKBAY RECLAMATION; NARIMAN POINTBOMBAYMH400021IN |
|
8 |
B79318374 |
80052736 |
UNION BANK OF INDIA |
23/06/1997 |
- |
15/06/2013 |
10000000.0 |
MUMBAI MAIN BRANCH, UNION BANK BHAVAN,239, BACKBAY RECLAMATION, NARIMAN POINT,MUMBAIMH400021IN |
|
9 |
B79319851 |
90160889 |
UNION BANK OF INDIA |
13/03/1996 |
30/06/1999 |
15/06/2013 |
41000000.0 |
MUMBAI MAIN OFFICE; UNION ANK BHAVAN239; BACKBAY RECLAMATION; NARIMAN POINTBOMBAYMH400021IN |
|
10 |
A56247612 |
90162925 |
IDBI |
29/04/1994 |
- |
21/01/2009 |
26700000.0 |
NARIMAN BHAVAN; 227V. K. SHAH MARG; NARIMAN POINTBOMBAYMH400021IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Inter-Corporate Deposits |
4.507 |
4.186 |
|
|
|
|
|
Total |
4.507 |
4.186 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Non provision of dividend on 11% Cumulative Redeemable Preference
Shares amounting |
4.180 |
3.960 |
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS YEAR ENDED 31.12.2017
(INR IN MILLION)
|
Particulars |
Six Months Ended 31.12.2017 |
Six Months Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Income
from operations |
|
|
|
|
Revenue from operations |
320.777 |
310.810 |
1478.530 |
|
Other Income |
2.718 |
0.273 |
3.635 |
|
Total
Income |
323.495 |
311.083 |
1482.165 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
Purchases of
Stock-in-Trade |
221.624 |
227.518 |
977.947 |
|
Changes of
Stock-in-Trade |
13.643 |
5.529 |
219.180 |
|
Employee benefits expense |
20.408 |
19.317 |
59.317 |
|
Finance Costs |
6.408 |
4.789 |
14.812 |
|
Depreciation and
amortisation expense |
2.822 |
3.680 |
8.373 |
|
Other expenditure |
53.350 |
46.240 |
189.036 |
|
Total
Expenses |
318.255 |
307.073 |
1468.665 |
|
|
|
|
|
|
Profit before exceptional
Items (3+4) |
5.240 |
4.010 |
13.500 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
Profit
before tax (7-8) |
5.240 |
4.010 |
13.500 |
|
Tax expense |
1.811 |
2.371 |
5.811 |
|
Net
Profit for the period |
3.429 |
1.639 |
7.689 |
|
Attributable
to: |
|
|
|
|
Shareholders of the company |
3.429 |
1.639 |
7.689 |
|
Non-Controlling Interest |
-- |
-- |
-- |
|
Other
comprehensive income |
|
|
|
|
Item that will not be reclassified to profit or loss |
0.720 |
1.665 |
2.385 |
|
income tax relating to items that will not be reclassified to profit or loss |
-- |
-- |
-- |
|
Item that will be reclassified to profit or loss |
-- |
-- |
-- |
|
income tax relating to items that will be reclassified to profit or loss |
-- |
-- |
-- |
|
Total
comprehensive income |
4.149 |
3.304 |
10.074 |
|
Attributable
to: |
|
|
|
|
Shareholders of the company |
4.149 |
3.304 |
10.074 |
|
Non-Controlling Interest |
-- |
-- |
-- |
|
Paid
- up Equity Share Capital (Face
value of INR 10/- per share) |
62.236 |
62.236 |
62.236 |
|
Earnings Per Share (EPS) |
|
|
|
|
a)
Basic |
0.59 |
0.28 |
1.35 |
|
b)
Diluted |
0.58 |
0.27 |
1.24 |
NOTES:
- The above financial results, which have been subjected to Limited Review by Statutory Auditors, have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on February 14.2018.
- The Company adopted Indian Accounting Standard find AS') from April I. 2017 and accordingly these financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 "Interim Financial Reporting" prescribed under Section 133 of the Companies .Act. 2013 read with the relevant rules issued thereunder the date of transition to Ind AS is April I. 2016. Financial results for all the periods presented have been prepared in accordance with the recognition and measurement principles of ind AS 34.
- As required by the circular C1R/CFD/FAC/62/2016 issued by SEBI dated July 05. 2016. The Ind AS unaudited financial results for the quarter and Nine Month ended December 31. 2016. Have been compiled by the management after making necessary adjustments to give a true and fair view of the results in accordance with ind AS. This information has not been subject to any limited review or audit.
- Out of the 945000 warrants outstanding as at April 01, 2017. A total of 6,30,000 warrants have been converted into equivalent number of equity shares on June 30, 2017 and balance 3,15.000 warrant have been converted in to equivalent number of equity shares on August 02, 2017.
- Provision for deferred tax liability, if any. Will be made at the end of the financial year.
- The Company operates under a single primary' segment which is trading.
- Previous period figures have been regrouped / reclassified wherever necessary to correspond with the current period's classification / disclosure.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
Industry Structure
& Development
E-commerce Industry:
Recent years have seen a remarkable transformation in the way India shops and trades. E commerce has taken the world of retail by storm and captivated the imagination of an entire generation of entrepreneurs, with e-commerce ventures, with various business and commercial models. Online retail, while today representing a small fraction of the e-commerce space is one of the fastest growing segments. It is also the most challenging in fulfilling its fundamental proposition of transcending physical boundaries to deliver a variety of products to the customer’s doorstep. E-commerce removes barriers of distance & time, consumers can access internet anywhere and anytime to make purchases, which adds convenience to the shopping experience. The best thing in e-commerce business is e-commerce retailers can easily keep a constant eye on consumer’s buying habits. By satisfying their needs constantly, a company can improve its ongoing relationship with them and build long-lasting relationship. Today, e-commerce has revolutionized the way companies are doing business. Now, consumers can purchase almost anything online 24* by 7 and get an ultimate shopping experience, they can buy products or services from their home at any time of day or night.
Recent online trends
of the E-commerce Industry:
Digital Payments: Digital Payments Technologies will give a stiff competition to the traditional payment ecosystem. The Companies who are dealing in the online transactions will come up with their own mobile wallets to ensure better payment experience for the consumers.
Retailers unifying their online and offline data collection: Since today’s consumers go through multiple channels in their path to purchase and collection, more retailers have started analyzing online and offline data together. Doing so will give them more comprehensive picture of their customer’s shopping journeys
Tier 2 and 3 cities embrace Online Shopping: The festive offers on online market places saw a huge increase in customers from Tier 2 & 3 Indian cities. Customer acquisition at online portals saw massive growth with new users coming from these cities. Sales from Tier 2 and 3 have started registering an impressive growth thanks to logistical capabilities of e-commerce companies.
The high numbers of positive reviews coupled with favorable
ratings of the company on e-commerce portal has led to increased sales as new
customers can place their trust on an already proven seller. Consequently, the
Company is in a dominant position to locate more customers, best suppliers and
suitable business partners
OUTLOOK
Despite a challenging retail environment and increase in competitive intensity, their company continued to deliver steady improvement in its performance. Their company is taking appropriate steps to leverage its position to achieve good growth in terms of volumes and profitability. The performance of the Company has been continuously increasing in the financial year 2016-2017. Moving forward the Company expects and has plans to increase its turnover in coming years as well. The company is continuously establishing a strong marketing and sales team internally to develop a strong market base. The Company has plans to further strengthen its sales force.
India has a good potential for the ecommerce industry in view of rapid change in life style of the customers. Customer’s preference for branded products is providing a better opportunity to the players in ecommerce Industry.
In the financial year 2016-2017, e-commerce players see
mobile commerce as the most preferred route with the mobile wallet as the
preferred way of payment. With 4G services launched in the year 2015, internet
penetration has taken a significant leap, which has and will continue to boost
the mobile commerce in future years.
OPERATIONS
With focus on automation the Company is expected to become more scalable. There is a lot of momentum amongst the Company’s existing suppliers, as many new suppliers and products have been added. The Company continued to perform well consistently for the Financial Year 2016-2017. The incremental market share both in terms of volume and profit is a clear indicator of the growing market power of the Company.
The categories explored by the Company are Automotive Industry, Baby Care Industry, Beauty and Personal Care, Gourmet and Specialty Foods Industry, Home and Kitchen, Sports Goods and Pets Products, Consumer Electronics including IT & IT supplies and Fashion. Our Company continues to serve as the platform for electronic retail to the various customers across India.
During the year 2016, the company ventured into offline retailing under the brand Seconds & Moments with a flagship retail store launched in the Northern suburb of Mumbai. The categories explored at the store include Small appliances, Kitchen & Dining, Personal Care Appliances, Home & Furnishing, Baby Toys, Indoor Lighting, Home Improvement and Automotive
The turnover and other income of the Company increase to INR
24,68.565 million as against INR 18,87.036 million in the previous year. Net
profit from operation stood at INR 45.540 million compared to INR 25.776
million in the previous year.
FIXED ASSETS:
· Freehold Land
Building
Plant
& Machinery
Electric
Installation
Office
Equipments
Computer
System
Vehicles
Furniture
& 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 66.70 |
|
UK Pound |
1 |
INR 93.14 |
|
Euro |
1 |
INR 81.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHR |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
RUP |
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 |
YES |
|
--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.