|
|
|
MIRA INFORM REPORT
|
Report No. : |
505481 |
|
Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
VICO FORGE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No 748/2 - 749, 40, Shed Area, GIDC, Vapi, District Valsad
– 396195, Gujarat |
|
Tel. No.: |
91-260-2430378 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
01.04.1986 |
|
|
|
|
Com. Reg. No.: |
04-008588 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 4.520 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910GJ1986PTC008588 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
5299003692 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAACV9427B1ZK |
|
|
|
|
TIN No.: |
24250900167 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV9427B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Manufacturer of Closed Die Steel
Forging. (Registered Activity and also Confirmed by Management) |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is
an established company incorporated in the year 1986 and it is having
satisfactory track. For the financial
year 2017, the company has achieved decent revenue from its operations but
maintained minimal profitability margin of 0.82%. Rating
takes into consideration sound financial profile of the company marked by
adequate networth base and average debt balance sheet. Further,
rating also derives strength from its established track records of business
operations and improvement in the profitability profile during the year. However,
rating strength is partially offset by low profitability margin during the
year and intense competition from industry. Trade
relations are reported as fair. Business is active. Payment terms are seems
to be slow but correct. 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Dhirendra |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9687636986 |
|
Date : |
23.04.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No 748/2-749, 40, Shed Area, GIDC, Vapi, District
Valsad – 396195, Gujarat, India |
|
Tel. No.: |
91-260-2430378 / 2421913 / 2400112 |
|
Mobile No.: |
91-9687636986 (Mr. Dhirendra) |
|
Fax No.: |
91-260-2432591 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Amrutlal Dalchharam Panchal |
|
Designation : |
Director |
|
Address : |
Gokuldham, Mahalaxminagar Daman Road, Chala, Vapi - 396191, Gujarat, India |
|
Date of Birth/Age : |
12.12.1949 |
|
Date of Appointment : |
06.10.1986 |
|
DIN No.: |
00133824 |
|
|
|
|
Name : |
Mr. Babulal Shivram Panchal |
|
Designation : |
Director |
|
Address : |
Gokuldham, Mahalaxminagar Daman Road, Chala, Vapi - 396191, Gujarat, India |
|
Date of Birth/Age : |
01.06.1954 |
|
Date of Appointment : |
06.10.1986 |
|
DIN No.: |
01290875 |
KEY EXECUTIVES
|
Name : |
Mr. Dhirendra |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Amrutlal Dalchharam Panchal |
21473 |
47.51 |
|
Babulal Shivram Panchal |
21473 |
47.51 |
|
Riko Forge Private Limited |
2250 |
4.98 |
|
Ugrabhai Patel |
1 |
0.00 |
|
Maniben Ugrabhai Patel |
1 |
0.00 |
|
|
|
|
|
Total |
45198 |
100.00 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
95.02 |
|
Promoters – Body Corporate |
4.98 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Manufacturer of Closed Die Steel
Forging. (Registered Activity and also Confirmed by Management) |
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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 : |
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Products : |
Finished Goods |
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Countries : |
· African Countries · European Countries |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Cash, Advance Payment, Cheque and Others [NEFT, RTGS] |
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Purchasing : |
Cash, Advance Payment, Cheque and Others [NEFT, RTGS] |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
·
JSW Steel Limited |
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Customers : |
Manufacturers
·
Fortune Engineering |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
· Union Bank of India Princess Street Branch,, Devkaran Mansion, Shamaldas Gandhi Marg,, Mumbai - 400002, Maharashtra, India · Bank of Baroda Vapi Industrial Estate SSI Branch, C.M.14,, Near GIDC Char Rasta,, Vapi - 396195, Gujarat, India |
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Facilities : |
|
|
Financial Institutions : |
· Religare Finvest Limited "H" Block 1st Floor, Dhirubhai Ambani Knowledge
City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India · Reliance Commercial Finance Limited |
|
Auditors : |
|
|
Name : |
Kakaria and Associates Chartered Accountants |
|
Address : |
Royal Fortune Complex, Daman Road, Chala, Vapi – 396191, Gujarat,
India |
|
Tel. No.: |
91-260-3981000 (30 Lines) |
|
E-Mail : |
|
|
PAN No.: |
AAHFK2571P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company : |
Riko Forge Private Limited [U27107GJ2007PTC049954] |
|
|
|
|
Related Parties : |
· Son and Son Fabricators · Divya Engineering Works · Kuldevi Engineering Works |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000 |
Equity Shares |
INR 100/- each |
INR 9.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45198 |
Equity Shares |
INR 100/- each |
INR 4.520
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 |
4.520 |
4.520 |
4.520 |
|
(b) Reserves & Surplus |
41.540 |
38.720 |
37.216 |
|
(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) |
46.060 |
43.240 |
41.736 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
131.686 |
128.059 |
7.105 |
|
(b) Deferred tax liabilities (Net) |
2.913 |
3.548 |
4.246 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
134.599 |
131.607 |
11.351 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
4.517 |
1.450 |
90.584 |
|
(b)
Trade payables |
84.932 |
83.718 |
65.037 |
|
(c)
Other current liabilities |
31.450 |
20.820 |
23.444 |
|
(d)
Short-term provisions |
1.453 |
1.391 |
0.913 |
|
Total
Current Liabilities (4) |
122.352 |
107.379 |
179.978 |
|
|
|
|
|
|
TOTAL |
303.011 |
282.226 |
233.065 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
72.424 |
67.222 |
61.066 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.375 |
0.375 |
6.548 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.502 |
1.502 |
1.502 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
8.683 |
5.137 |
5.144 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
82.984 |
74.236 |
74.260 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
88.891 |
69.312 |
50.595 |
|
(c)
Trade receivables |
84.060 |
96.217 |
95.517 |
|
(d)
Cash and cash equivalents |
9.126 |
6.263 |
2.859 |
|
(e)
Short-term loans and advances |
34.886 |
34.759 |
9.173 |
|
(f)
Other current assets |
3.064 |
1.439 |
0.661 |
|
Total
Current Assets |
220.027 |
207.990 |
158.805 |
|
|
|
|
|
|
TOTAL |
303.011 |
282.226 |
233.065 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
349.332 |
350.445 |
336.665 |
|
|
|
Other Income |
0.959 |
0.985 |
2.293 |
|
|
|
TOTAL |
350.291 |
351.430 |
338.958 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
179.206 |
181.227 |
174.243 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(0.807) |
(1.298) |
5.397 |
|
|
|
Employees benefits expense |
19.812 |
19.392 |
18.754 |
|
|
|
Other expenses |
115.771 |
117.499 |
128.985 |
|
|
|
TOTAL |
313.982 |
316.820 |
327.379 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
36.309 |
34.610 |
11.579 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.669 |
22.396 |
19.744 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.640 |
12.214 |
(8.165) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
11.828 |
11.109 |
11.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2.812 |
1.105 |
(19.204) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.056) |
(0.447) |
(1.006) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2.868 |
1.552 |
(18.198) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
63.00 |
34.00 |
(402.63) |
|
|
PARTICULARS |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
380.000 |
|
|
|
|
[Due to Market
Fluctuation] |
The above information has been parted by Mr. Dhirendra [Finance Manager]
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
19.586 |
11.983 |
13.169 |
|
|
|
|
|
|
Cash generated from operations |
6.305 |
(16.092) |
0.861 |
|
|
|
|
|
|
Net Cash from Operations |
5.727 |
(16.268) |
1.469 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
87.83 |
100.21 |
103.56 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.16 |
3.64 |
3.52 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
172.99 |
168.61 |
136.24 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.41 |
0.50 |
0.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.50 |
0.51 |
0.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.90 |
0.88 |
0.86 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
3.38 |
3.27 |
2.66 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.66 |
2.48 |
4.31 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.58 |
1.56 |
1.62 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.68 |
1.55 |
0.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.82 |
0.44 |
-5.41 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.95 |
0.55 |
-7.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
6.23 |
3.59 |
-43.60 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.80 |
1.94 |
0.88 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.07 |
1.29 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.15 |
0.15 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
34.47 |
31.30 |
24.53 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.80 |
1.94 |
0.88 |
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 |
4.520 |
4.520 |
4.520 |
|
Reserves & Surplus |
37.216 |
38.720 |
41.540 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
41.736 |
43.240 |
46.060 |
|
|
|
|
|
|
long-term borrowings |
7.105 |
128.059 |
131.686 |
|
Short term borrowings |
90.584 |
1.450 |
4.517 |
|
Current Maturities of Long
term debt |
13.169 |
11.983 |
19.586 |
|
Total
borrowings |
110.858 |
141.492 |
155.789 |
|
Debt/Equity
ratio |
2.656 |
3.272 |
3.382 |
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 |
336.665 |
350.445 |
349.332 |
|
|
|
4.093 |
-0.318 |
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 |
336.665 |
350.445 |
349.332 |
|
Profit |
-18.198 |
1.552 |
2.868 |
|
|
-5.41% |
0.44% |
0.82% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G80057946 |
100162003 |
RELIANCE COMMERCIAL FINANCE LIMITED |
28/02/2018 |
- |
- |
3200000.0 |
RELIANCE CENTRE, 6TH FLOOR, SOUTH WING,OFF. WESTERN EXPRESS HIGHWAY, SANTACRUZ (EAST)MUMBAIMA400055IN |
|
2 |
G29578242 |
100065767 |
ELECTRONICA FINANCE LIMITED |
27/10/2016 |
- |
- |
3519057.0 |
128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS,PAUD ROAD, KOTHRUDPUNEMA411038IN |
|
3 |
G08736308 |
100042476 |
ELECTRONICA FINANCE LIMITED |
01/08/2016 |
- |
- |
7914513.0 |
128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS,PAUD ROAD, KOTHRUDPUNEMA411038IN |
|
4 |
C82465766 |
10627914 |
RELIGARE FINVEST LIMITED |
08/03/2016 |
- |
- |
84162000.0 |
D3, P3B,DISTRICT CENTRE, SAKETNEW DELHIDL110017IN |
|
5 |
C81905234 |
10626470 |
RELIGARE FINVEST LIMITED |
17/02/2016 |
- |
- |
21116000.0 |
D3, P3B,DISTRICT CENTRE, SAKETNEW DELHIDL110017IN |
|
6 |
C82216060 |
10627311 |
RELIGARE FINVEST LIMITED |
16/02/2016 |
- |
- |
84162000.0 |
D3, P3B,DISTRICT CENTRE, SAKETNEW DELHIDL110017IN |
|
7 |
B79626560 |
10484733 |
RELIANCE CAPITAL LTD |
24/09/2012 |
- |
- |
2724000.0 |
"H" BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMH400710IN |
|
8 |
C75037424 |
10329584 |
UNION BANK OF INDIA |
19/12/2011 |
18/07/2013 |
22/12/2015 |
50000000.0 |
PRINCESS STREET BRANCH,DEVKARAN MANSION, SHAMALDAS GANDHI MARG,MUMBAIMH400002IN |
|
9 |
C75036988 |
10329577 |
UNION BANK OF INDIA |
19/12/2011 |
18/07/2013 |
22/12/2015 |
10000000.0 |
PRINCESS STREET BRANCH,DEVKARAN MANSION, SHAMALDAS GANDHI MARG,MUMBAIMH400002IN |
|
10 |
C75037648 |
10331289 |
UNION BANK OF INDIA |
05/01/2012 |
06/02/2013 |
22/12/2015 |
55000000.0 |
PRINCESS STREET BRANCH,DEVKARAN MANSION, SHAMALDAS GANDHI MARG,MUMBAIMH400002IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loan from banks |
120.427 |
121.558 |
|
Term loan from other parties |
8.362 |
3.688 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loan repayable
on demand From other parties |
4.517 |
1.450 |
|
|
|
|
|
Total |
133.306 |
126.696 |
INDUSTRY SCENARIO
AND STATE OF COMPANY’S AFFAIRS:
The company is a private company having its registered office and factory
unit located in Vapi, Gujarat. The company deals in various forging products.
CORPORATE
INFORMATION
The company is engaged in the business of manufacturing of closed die
steel forging and is carrying on its business from the principal place of business
at Vapi.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Guarantees |
|
|
|
Irrecoverable and unconditional Bank
guarantee given by Shamrao Vitthal Co. Operative Bank Limited, Borivali Branch,
Mumbai to GSPC Gac Company Limited |
2.524 |
2.524 |
FIXED ASSETS:
Tangible Assets
· Land
· Building
· Plant and Equipment
· Furniture and Fixture
· Vehicle
· Office Equipment
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 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 66.70 |
|
UK Pound |
1 |
INR 93.14 |
|
Euro |
1 |
INR 81.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.