|
|
|
MIRA INFORM REPORT
|
Report No. : |
505895 |
|
Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SARUP INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Post Office, Ramdaspura, Jalandhar - 144003, |
|
Tel. No.: |
91-181-2271556/ 7/ 8 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
27.07.1979 |
|
|
|
|
Com. Reg. No.: |
16-004014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 32.524 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L19113PB1979PLC004014 |
|
|
|
|
TIN No.: |
03091092466 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable (As informed by the management that firm
does not have export and import) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS8749J |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
03AABCS8749J1Z2 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Footwear. (Registered activity and also Confirmed by
management) |
|
|
|
|
No. of Employees
: |
912 (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 |
|
Maximum Credit Limit : |
USD 600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated on 27th July 1979 and it is a manufacturer of footwear. As per financials of March 2017, the company has registered a marginal growth in its revenue and has reported average profit margin. Rating takes into consideration the company’s established track record of business operations marked by sound net worth along with comfortable debt coverage indicators and decent liquidity position. Further, share are quoted fairly high on Stock Exchanges. (Share are traded at a price of INR 58.20 against its face value of INR 10.) As per unaudited quarterly financials of December 2017, the company has achieved a revenue of INR 95.75 million and has reported profit margin of 0.64%. Payments 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
|
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 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
|
Name : |
Mr. Rakesh Sonagara |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-7087373809 |
|
Date : |
24.04.2018 |
LOCATIONS
|
Registered Office : |
Post Office, Ramdaspura, Jalandhar - 144003, |
|
Tel. No.: |
91-181-2271556/ 7/ 8 |
|
Mobile No.: |
91-7087373809 (Mr. Rakesh Sonagara) 91-7696278184 (Mr. Ashish) |
|
Fax No.: |
91-181-2277557 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory 1 : |
Plot No. 141, Leather Complex, |
|
Tel. No.: |
91-181-5012163 / 5021037 |
|
|
|
|
Factory 2 : |
Unit No V, VILL Shyampur Tahliwal, Una, Solan – 174101, |
|
|
|
|
Factory 3: |
Plot No 73, Phase-IV, Sector-56 Hsiid, Industrial Area,
Kundli Sonipat - 131028, |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Atamjit Singh Bawa |
|
Designation : |
Wholetime Director |
|
Address : |
534, |
|
Date of Birth/Age : |
64 Years |
|
Experience : |
30 Years |
|
Date of Appointment : |
29.09.2015 |
|
DIN No.: |
00807400 |
|
|
|
|
Name : |
Mr. Simarjit Singh Bawa |
|
Designation : |
Managing Director |
|
Address : |
534, |
|
Date of Birth/Age : |
44 Years |
|
Date of Appointment : |
29.09.2015 |
|
DIN No.: |
00851651 |
|
|
|
|
Name : |
Ms. Ashwani Arora |
|
Designation : |
Director |
|
Address : |
85, Gurdev Nagar, Jalandhar – 144001, |
|
Date of Appointment : |
29.09.2015 |
|
DIN No.: |
01809365 |
|
|
|
|
Name : |
Mr. Gurendra Singh Bedi |
|
Designation : |
Director |
|
Address : |
D- 303, Nagarjuna Apartment, Mayur Vihar - I, A – 1 Chilla
Regulator, |
|
Date of Appointment : |
22.09.2015 |
|
DIN No.: |
01809365 |
|
|
|
|
Name : |
Mr. Lajpat Sangwan |
|
Designation : |
Director |
|
Address : |
H. No 97, Bishangarh, Bechirag Chaura, Tehsil Karna, L
Karnal – 132001, |
|
Date of Appointment : |
23.12.2014 |
|
DIN No.: |
07035654 |
|
|
|
|
Name : |
Mr. Surinder Singh Cheema |
|
Designation : |
Director |
|
Address : |
H No. 38/4, Friends Colony, VI LL. Kingra, Jalandhar – 144001, Punjab, India |
|
Date of Appointment : |
13.08.2015 |
|
DIN No.: |
07273630 |
|
|
|
|
Name : |
Ms. Lissy Jacob |
|
Designation : |
Director |
|
Address : |
H No. 1416, Near |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
MBA |
|
Date of Appointment : |
05.05.2016 |
|
DIN No.: |
07510795 |
|
|
|
|
Name : |
Ms. Harnarinder Deep Kaur |
|
Designation : |
Director |
|
Address : |
House No. 681, Urban Estate Phase-1, Garha, Jalandhar –
144022, |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
M. A, M-Phil and B.ED |
|
Date of Appointment : |
13.08.2016 |
|
DIN No.: |
07592946 |
KEY EXECUTIVES
|
Name : |
Mr. Chakkarvarti Sharma |
|
Designation : |
Chief Finance Officer |
|
Address : |
H No 68/75, Garden Colony, Janaldhar – 144003, |
|
Date of Appointment : |
13.02.2018 |
|
PAN No.: |
ASSPS0405P |
|
|
|
|
Name : |
Ms. Megha Gandhi |
|
Designation : |
Company Secretary |
|
Address : |
84/12, Friends Colony, Jalandhar – 144001, |
|
Date of Appointment : |
01.08.2015 |
|
PAN No.: |
BJAPM1989A |
|
|
|
|
Name : |
Mr. Ramesh Chand Sharma |
|
Designation : |
Chief Executive Officer |
|
Address : |
36 New University Enclave, Jalandhar – 144001, |
|
Date of Appointment : |
11.08.2014 |
|
PAN No.: |
ADQPS2416K |
|
|
|
|
Name : |
Mr. Rakesh Sonagara |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on March, 2018
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
|
|
Promoter and Promoter Group |
2418500 |
74.36 |
|
|
Public |
833900 |
25.64 |
|
|
Grand Total |
3252400 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER
GROUP
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
|
|
A1) Indian |
|
0.00 |
|
|
Individuals/Hindu undivided Family |
2418500 |
74.36 |
|
|
MANJIT BAWA |
1040800 |
32.00 |
|
|
ATAMJIT SINGH BAWA |
891054 |
27.40 |
|
|
SIMARJIT SINGH BAWA |
486646 |
14.96 |
|
|
Sub Total A1 |
2418500 |
74.36 |
|
|
A2) Foreign |
|
0.00 |
|
|
A=A1+A2 |
2418500 |
74.36 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
|
B1) Institutions |
0 |
0.00 |
|
B2) Central Government/ State Government(s)/ President of |
0 |
0.00 |
|
B3) Non-Institutions |
0 |
0.00 |
|
Individual share capital upto INR 0.200 Million |
522006 |
16.05 |
|
Individual share capital in excess of INR 0.200 Million |
194309 |
5.97 |
|
MANOJ DUA |
74184 |
2.28 |
|
SUBRAMANIAN P |
57680 |
1.77 |
|
NBFCs registered with RBI |
3400 |
0.10 |
|
Any Other (specify) |
114185 |
3.51 |
|
Bodies Corporate |
96991 |
2.98 |
|
HUF |
13469 |
0.41 |
|
NRI |
3725 |
0.11 |
|
Sub Total B3 |
833900 |
25.64 |
|
B=B1+B2+B3 |
833900 |
25.64 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Footwear. (Registered activity and also Confirmed by
management) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash, Credit (30, 60, 90 Days), NEFT, RTGS |
||||
|
|
|
||||
|
Purchasing : |
Cash, Credit (30, 60, 90 Days), NEFT, RTGS |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers, Warehouses
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
912 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Mehatpur Branch,
Kundli Branch, Sonipat, |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Y. K. SUD and Company Chartered Accountants |
|
Address : |
|
|
Tel. No.: |
91-181-22202020/ 2224174 |
|
|
|
|
Legal Advisor : |
|
|
Name : |
Mr. V. K. Sareen |
|
Address : |
7-New Rajendra Nagar, Police |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Firm where
relatives of promoters are partners : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
INR 10/- each |
INR 40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3252400 |
Equity Shares |
INR 10/- each |
INR 32.524
Million |
|
|
|
|
|
Reconciliation of the
number of shares and amount outstanding at the beginning and at the end of the
reporting period:
|
Particulars |
Opening Balance |
Closing balance |
|
Equity shares with
voting rights |
|
|
|
Year ended 31 March, 2017 |
|
|
|
Number of shares |
3252400 |
3252400 |
|
Amount (INR in Million) |
32.524 |
32.524 |
Details of shares
held by the holding company, the ultimate holding company, their subsidiaries
and Note Applicable
Details of shares held
by each shareholder holding more than 5% shares:
|
Class of shares/ Name of shareholder |
As at 31 March 2017 |
|
|
|
Number of shares held |
% holding in that class of shares |
|
Equity shares with
voting rights |
|
|
|
S. Atamjit Singh Bawa |
891054 |
27.40 |
|
Maniit Bawa |
1040800 |
.32.00 |
|
S. Simerjit Singh Bawa |
486646 |
14.96 |
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 |
32.524 |
32.524 |
32.524 |
|
(b) Reserves & Surplus |
191.903 |
190.725 |
215.057 |
|
(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) |
224.427 |
223.249 |
247.581 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
203.193 |
154.491 |
40.442 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
20.665 |
28.822 |
49.355 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
223.858 |
183.313 |
89.797 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
144.127 |
146.154 |
125.437 |
|
(b) Trade payables |
106.891 |
103.190 |
88.329 |
|
(c) Other current liabilities |
33.747 |
37.720 |
35.026 |
|
(d) Short-term provisions |
46.568 |
47.752 |
56.027 |
|
Total
Current Liabilities (4) |
331.333 |
334.816 |
304.819 |
|
|
|
|
|
|
TOTAL |
779.618 |
741.378 |
642.197 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
150.734 |
150.511 |
170.853 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
130.889 |
104.136 |
3.514 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.079 |
4.279 |
4.279 |
|
(c) Deferred tax assets (net) |
2.573 |
2.830 |
1.013 |
|
(d) Long-term Loan and Advances |
2.138 |
2.126 |
2.494 |
|
(e) Other Non-current assets |
0.914 |
0.068 |
0.000 |
|
Total
Non-Current Assets |
294.327 |
263.950 |
182.153 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
281.903 |
284.082 |
289.442 |
|
(c) Trade receivables |
134.527 |
111.950 |
123.370 |
|
(d) Cash and cash equivalents |
5.114 |
8.959 |
12.813 |
|
(e) Short-term loans and
advances |
59.990 |
60.155 |
24.727 |
|
(f) Other current assets |
3.757 |
12.282 |
9.692 |
|
Total
Current Assets |
485.291 |
477.428 |
460.044 |
|
|
|
|
|
|
TOTAL |
779.618 |
741.378 |
642.197 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
497.105 |
492.935 |
696.474 |
|
|
Other Income |
0.963 |
1.432 |
2.515 |
|
|
TOTAL
|
498.068 |
494.367 |
698.989 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
257.255 |
282.784 |
390.519 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.633) |
4.130 |
(3.412) |
|
|
Employees benefits expense |
144.303 |
134.655 |
166.600 |
|
|
Other expenses |
58.249 |
62.551 |
83.210 |
|
|
TOTAL |
457.174 |
484.120 |
636.917 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
40.894 |
10.247 |
62.072 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
18.146 |
18.064 |
18.451 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
22.748 |
(7.817) |
43.621 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
17.311 |
17.507 |
18.192 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5.437 |
(25.324) |
25.429 |
|
|
|
|
|
|
|
Less |
TAX |
0.356 |
(1.771) |
5.086 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
5.081 |
(23.553) |
20.343 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.316 |
37.648 |
68.681 |
|
|
|
|
|
|
|
Add |
Adjustments in
respect of prior years |
0.000 |
(0.779) |
(41.886) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend on Equity Shares |
3.252 |
0.000 |
5.854 |
|
|
Dividend Tax on Proposed Dividend |
0.650 |
0.000 |
1.169 |
|
|
Income Tax /TDS/ wealth Tax Provision |
0.000 |
0.000 |
2.500 |
|
|
Tax on Dividend |
0.000 |
0.000 |
(0.033) |
|
|
Total
(M) |
3.902 |
0.000 |
9.490 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
14.495 |
13.316 |
37.648 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.807 |
7.953 |
|
|
TOTAL
EARNINGS |
0.000 |
0.807 |
7.953 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
104.568 |
133.305 |
110.151 |
|
|
Capital Goods |
0.000 |
0.000 |
32.752 |
|
|
TOTAL
IMPORTS |
104.568 |
133.305 |
142.903 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
1.56 |
(7.24) |
6.25 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
500.000 |
|
|
|
(Due to business
growth) |
|
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 |
172.211 |
(13.142) |
57.384 |
|
Net cash flow from operating activity |
143.211 |
(17.042) |
52.984 |
QUARTERLY RESULTS
(INR
in Million)
|
Particulars |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
64.760 |
173.510 |
95.760 |
|
Total Expenditure |
64.650 |
162.090 |
85.880 |
|
PBIDT (Excl OI) |
0.110 |
11.420 |
9.880 |
|
Other Income |
0.040 |
0.070 |
0.050 |
|
Operating Profit |
0.150 |
11.480 |
9.930 |
|
Interest |
4.400 |
5.490 |
5.310 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
(4.250) |
5.990 |
4.620 |
|
Depreciation |
4.000 |
4.000 |
4.000 |
|
Profit Before Tax |
(8.250) |
1.990 |
0.620 |
|
Tax |
NA |
NA |
NA |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
(8.250) |
1.990 |
0.620 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
(8.250) |
1.990 |
0.620 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
98.78 |
82.89 |
64.65 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.70 |
4.40 |
5.65 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
151.66 |
133.19 |
82.56 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.15 |
0.04 |
0.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.15 |
0.04 |
0.36 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.69 |
0.66 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.55 |
1.35 |
0.67 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
1.48 |
1.50 |
1.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.25 |
1.14 |
0.70 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.25 |
0.57 |
3.36 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
1.02 |
(4.78) |
2.92 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.65 |
(3.18) |
3.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
2.26 |
(10.55) |
8.22 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.46 |
1.43 |
1.51 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.61 |
0.58 |
0.56 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.29 |
0.30 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
10.68 |
9.24 |
5.10 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.46 |
1.43 |
1.51 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10.00/- each |
|
Market Value |
INR 58.20/- each |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
32.524 |
32.524 |
32.524 |
|
Reserves & Surplus |
215.057 |
190.725 |
191.903 |
|
Net
worth |
247.581 |
223.249 |
224.427 |
|
|
|
|
|
|
Long Term borrowings |
40.442 |
154.491 |
203.193 |
|
Short Term borrowings |
125.437 |
146.154 |
144.127 |
|
Total
borrowings |
165.879 |
300.645 |
347.320 |
|
Debt/Equity
ratio |
0.670 |
1.347 |
1.548 |
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
|
696.474 |
492.935 |
497.105 |
|
|
|
(29.224) |
0.846 |
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
|
696.474 |
492.935 |
497.105 |
|
Profit
/ (Loss) |
20.343 |
(23.553) |
5.081 |
|
|
2.92% |
(4.78%) |
1.02% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
RESULTS OF OPERATIONS
AND THE STATE OF COMPANY'S AFFAIRS
The highlights of the
Company's performance are as under:
• Revenue from operations little increased this year by 0,84% to INR 497.105 Million
• Sales also increased by 0,80% to INR 496.834 Million
Further our Company putting the efforts to increase more sale as well as revenues of the Company this year.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
Outlook
In the transforming era, where footwear industry in India has shown an outgrowth in the recent years due to its increased demand. With the arrival of latest advancements, the growth of nonleather footwear in India has become prominent. The global footwear market is rising expeditiously as footwear is increasingly becoming a fashion accessory. Not only this, the increasing demands for trendy. yet comfortable footwear among all age groups a key factor driving the global footwear market.
The Company has a wide scope for growth of footwear industry with all the positives on its side. Our access to state-of-the art machineries opens up a number of possibilities as a stimulating factor. The way footwear sector has become prominent in the non-leather industry, at present most of footwear brands in India are putting efforts on deploying resources and producing high-quality and durable non-leather footwear for the entire family.
Further our company will relaunch its own Brand "LOTUS BAWA" In September and has received good response in the domestic market. The Company is providing training to workers and staff to improve the Quality according to the market demand and increase efficiency of work. This will further reduce the operating cost of the product. These impact overall performance through the ability of the company to offer high levels of service to its customers.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deposits |
169.406 |
144.631 |
|
|
|
|
|
Total |
169.406 |
144.631 |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED 31ST DECEMBER, 2017
(INR
in Million)
|
|
|
Particulars |
31.12.2017 (Quarter Ended) |
30.09.2017 (Quarter Ended) |
31.12.2017 (Nine Months Ended) |
|
1 |
|
Income from
Operations |
|
|
|
|
|
|
Sales/Income from Operations (Gross) |
94.915 |
173.437 |
332.274 |
|
|
|
b) Other Operating Income |
0.836 |
0.070 |
1.750 |
|
|
Total Income from
Operations (Net) |
95.751 |
173.507 |
334.024 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Cost of Materials consumed |
47.719 |
86.948 |
166.755 |
|
|
b) |
Purchase of Stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(19.724) |
14.184 |
(24.020) |
|
|
d) |
Employee benefit expenses |
34.430 |
38.749 |
109.700 |
|
|
e) |
Depreciation and amortization expense |
4.000 |
4.000 |
12.000 |
|
|
f) |
Other expenses |
23.451 |
22.213 |
60.188 |
|
|
Total Expenses |
89.876 |
166.094 |
324.623 |
|
|
|
|
|
|
|
|
|
3 |
Profit /(Loss) from
operations before other income, finance costs and exceptional items |
5.875 |
7.413 |
9.401 |
|
|
4 |
Other Income |
0.050 |
0.065 |
0.150 |
|
|
5 |
Profit /(Loss) from
ordinary activities before finance costs and exceptional items |
5.925 |
7.478 |
9.551 |
|
|
6 |
Finance Costs |
5.309 |
5.489 |
15.199 |
|
|
7 |
Profit /(Loss) from
ordinary activities after finance costs but before exceptional items |
0.616 |
1.989 |
(5.648) |
|
|
8 |
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
|
9 |
Profit /(Loss) from
ordinary activities before tax |
0.616 |
1.989 |
(5.648) |
|
|
10 |
Tax Expense |
0.000 |
0.000 |
0.000 |
|
|
11 |
Net Profit /(Loss)
from ordinary activities after tax |
0.616 |
1.989 |
(5.648) |
|
|
|
|
|
|
|
|
|
12 |
Paid up equity share capital (Eq. shares of INR 10/- each) |
32.524 |
32.525 |
32.524 |
|
|
13 |
Reserve excluding revaluation reserves |
186.255 |
185.639 |
186.255 |
|
|
|
|
|
|
|
|
|
14 |
Earnings per share (before/after
extraordinary items) of INR 10/- each) |
0.19 |
0.61 |
(1.74) |
|
NOTE :
1. The above Unaudited Financial Results were reviewed by Audit Committee and approved by the Board of Directors at its 7th meeting for the FY 2017-18 held on 13th February, 2018.
2. The Statutory Auditors have given their Limited Review report as required
under Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements)
Regulations, 2015 for the above results.
3. The Company is operating in a single segment i.e. manufacturing of
shoes/shoe uppers.
4. Previous period/year figures have been regrouped and/or reclassified,
wherever necessary.
5. The Company has adopted Indian Accounting Standards ("Ind AS') notified
by the Ministry of Corporate affair. This statement has been prepared in
accordance with the Companies (Indian Accounting standards) Rules,2015 (Ind AS)
prescribed under section 133 of Companies Act 2013 read with relevant rules
issued thereunder and other recognised accounting practise and policies to the
extent applicable. The Company has for the first time adopted Ind AS w.e.f.
April 2017 with a transition date of April,2016.Though maximum information have
been extracted from the books of accounts maintained by the Company.
6. The format for un-audited quarterly results as prescribed in SEBI's Circular
CIR/CFD/CMD/15/2015 dated November 30,2015 has been modified to comply with
requirements of SEBI's Circular dated July, 5,2015. IND AS and Schedule III to
the Companies Act,2013 applicable to the Company that are required to comply
with IND AS.
7. The Reconcilation of net profit or loss reported in accordance with the
Indian GAAP to total comprehensive income in accordance with IND AS as given
below-
|
Description |
Quarter ended December 31, 2017 |
|
Net Profit as per previous GAAP (Indian GAAP) |
0.616 |
|
Add/Less-Increase / Decrease in Net profit as reported under Indian GAAP |
|
|
Net Profit as per IND AS |
0.616 |
|
Other comprehensive income, net of income tax |
|
|
Total comprehensive income for the period |
0.616 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G73093999 |
10043061 |
State Bank of India |
09/03/2007 |
30/12/2017 |
- |
224800000.0 |
SPECIALISED COMMERCIAL BRANCHCIVIL LINESJALANDHARPB144001IN |
|
2 |
G74152430 |
10323904 |
Distt. Industries Centre |
13/12/2011 |
- |
08/01/2018 |
3000000.0 |
UNAUNAHP174303IN |
|
3 |
A38075339 |
90181688 |
PUNJAB & SIND BANK |
04/10/1991 |
13/05/1992 |
01/05/2008 |
14000000.0 |
INTERNATIONAL BANKING DIVISIONOPP. NEHRU GARDENJALANDHARPBIN |
|
4 |
A38077186 |
90177122 |
PUNJAB & SIND BANK |
21/06/1989 |
- |
01/05/2008 |
4000000.0 |
INTERNATIONAL BANKING DIVISIONOPP. NEHRU GARDENJALANDHARPBIN |
|
5 |
A38076469 |
90177009 |
PUNJAB & SIND BANK |
10/06/1988 |
19/04/1993 |
01/05/2008 |
7000000.0 |
INTERNATIONAL BANKING DIVISIONNEHRU GARDENJALANDHARPBIN |
|
6 |
A38073243 |
90178142 |
PUNJAB & SIND BANK |
10/08/2000 |
10/08/2000 |
01/05/2008 |
80500000.0 |
INTERNATIONAL BANKING DIVISIONJALANDHARPBIN |
|
7 |
A38076675 |
90178974 |
PUNJAB & SIND BANK |
10/06/1988 |
19/04/1993 |
01/05/2008 |
700000.0 |
INTERNATIONAL BANKING DIVISIONOPP. NEHRU GARDENJALANDHARPBIN |
|
8 |
A38075040 |
90177353 |
PUNJAB & SIND BANK |
26/08/1992 |
- |
01/05/2008 |
23800000.0 |
INTERNATIONAL BANKING DIVISIONOPP. NEHRU GARDENJALANDHARPBIN |
|
9 |
A38074902 |
90177443 |
PUNJAB & SIND BANK |
07/12/1993 |
- |
01/05/2008 |
7280000.0 |
JALANDHARJALANDHARPBIN |
|
10 |
A38076873 |
90177118 |
PUNJAB & SIND BANK |
30/05/1989 |
- |
01/05/2008 |
2400000.0 |
INTERNATIONAL BANKING DIVISIONOPP. NEHRU GARDENJALANDHARPBIN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
6.550 |
6.550 |
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office equipment
- Leasehold Improvements
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 66.23 |
|
|
1 |
INR 92.84 |
|
Euro |
1 |
INR 81.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
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.