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|
|
MIRA INFORM REPORT
|
Report No. : |
506115 |
|
Report Date : |
28.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ASHA PENN COLOR PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Asha House, Plot No. 808/C, Dr. Babasaheb Ambedkar Road, Dadar (East),
Mumbai – 400014, Maharashtra |
|
Tel. No.: |
91-22-24140020 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
17.08.2006 |
|
|
|
|
Com. Reg. No.: |
11-163800 |
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|
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Capital
Investment / Paid-up Capital : |
INR 19.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24222MH2006PTC163800 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0397081910 |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAFCA9682E1ZF |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAFCA9682E |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, exporter and importer of pigmented chips and
dispersions. [Registered
Activity] |
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|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
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|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Asha Penn Color Private Limited is engaged in manufacturing, exporting
and importing of pigmented chips and dispersions. The company was incorporated
in the year 2006 and it based in Mumbai, Maharashtra. It is an established
company good track. For the financial year ended 2017, revenue of the company has
marginally declined and has reported profit margin at 4.44% (approximately). The company possesses sound financial profile marked by healthy
networth base along with low debt level and favorable gap between trade
payables to its trade receivables. Trade relations are reported as fair. Business is active. Payments terms
are seems to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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 28.04.2018.
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 DENIED BY
|
Name : |
Mr. Jinesh Mehta |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9825142359 |
|
Date : |
26.04.2018 |
Tel. No.: 91-22-24140020 (Number is continuously ringing)
Tel. No.: 91-22-24178050 (Not exist)
Mobile
No.:91-9892521915 / 9967350546 (Unavailable)
LOCATIONS
|
Registered Office : |
Asha House, Plot No. 808/C, Dr. Babasaheb Ambedkar Road, Dadar (East),
Mumbai – 400014, Maharashtra, India |
|
Tel. No.: |
91-22-24140020 |
|
Mobile No.: |
91-9825142359 (Mr. Jinesh Mehta) |
|
Fax No.: |
91-22-24137190 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Bidyut Baran Sen |
|
Designation : |
Managing Director |
|
Address : |
503/ 504, 5th Floor, Stellar Tower, Lokhandwala Complex,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
25.11.1948 |
|
Date of Appointment : |
17.08.2006 |
|
DIN No.: |
00036771 |
|
|
|
|
Name : |
Mr. Champaklal Dolatram Mehta |
|
Designation : |
Director |
|
Address : |
503, Abhishek 65, S V Road, Irla Bridge, Andheri (West), Mumbai –
400058, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1937 |
|
Date of Appointment : |
17.08.2006 |
|
DIN No.: |
00020159 |
|
|
|
|
Name : |
Mr. Hirachand Vamalchand Shah |
|
Designation : |
Director |
|
Address : |
502, Paradise Apartment, 7th Road, TPS III, Santacruz (East), Mumbai –
400055, Maharashtra, India |
|
Date of Birth/Age : |
31.03.1936 |
|
Date of Appointment : |
17.08.2006 |
|
DIN No.: |
00479277 |
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|
|
|
Name : |
Mr. Kevin Scott Putman |
|
Designation : |
Director |
|
Address : |
5450 Long Lane, Dolyestown, Pennsylvania – 18901, United States of
America |
|
Date of Birth/Age : |
03.11.1951 |
|
Date of Appointment : |
01.02.2007 |
|
DIN No.: |
02391254 |
|
|
|
|
Name : |
Mr. Bharat Parekh |
|
Designation : |
Director |
|
Address : |
731, Haycock View Drive, Pekasie, Pennsylvania – 18944, United States
of America |
|
Date of Birth/Age : |
27.01.1948 |
|
Date of Appointment : |
01.02.2007 |
|
DIN No.: |
02032633 |
|
|
|
|
Name : |
Mr. Babulal Bhikhalal Mehta |
|
Designation : |
Director |
|
Address : |
Sheetal Near Avdhut Sty, Tithal Road, Valsad – 396001, Gujarat, India |
|
Date of Birth/Age : |
04.12.1941 |
|
Date of Appointment : |
15.11.2011 |
|
DIN No.: |
00036837 |
|
|
|
|
Name : |
Mr. David Bernard Hill |
|
Designation : |
Director |
|
Address : |
1, Knoll Drive, Yardley, Pennsylania 19067, United States of America |
|
Date of Birth/Age : |
09.04.1956 |
|
Date of Appointment : |
01.02.2007 |
|
DIN No.: |
02337612 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Babulal Bikhalal Mehta |
|
132050 |
|
Bidyut Baran Sen |
|
158650 |
|
Penn Color Inc, Doylestown PA |
|
950000 |
|
Hirachand Vamalchand Shah |
|
313500 |
AS ON 19.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
50.00 |
|
Promoters - Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, exporter and importer of pigmented chips and
dispersions. [Registered
Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Mehta Kothari and Company Chartered Accountants |
|
Address : |
213/215 Jolly Bhavan No.1, 10, New Marine Lines, Mumbai- 400020,
Maharashtra, India |
|
PAN No.: |
AAAFM5736F |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
|
Relative of Key Managerial Personnel : |
C. D. Mehta HUF |
CAPITAL STRUCTURE
AS ON 19.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1900000 |
Equity Shares |
INR 10/- each |
INR 19.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
19.000 |
19.000 |
19.000 |
|
(b) Reserves &
Surplus |
216.139 |
183.312 |
188.487 |
|
(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) |
235.139 |
202.312 |
207.487 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
54.371 |
53.065 |
53.136 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
54.371 |
53.065 |
53.136 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
52.143 |
51.180 |
19.915 |
|
(b) Trade payables |
66.578 |
95.227 |
101.586 |
|
(c) Other current
liabilities |
6.661 |
6.661 |
6.855 |
|
(d) Short-term provisions |
62.124 |
73.818 |
54.104 |
|
Total Current Liabilities
(4) |
187.506 |
226.886 |
182.460 |
|
|
|
|
|
|
TOTAL |
477.016 |
482.263 |
443.083 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
53.676 |
56.610 |
63.450 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
1.512 |
2.468 |
0.142 |
|
(d) Long-term Loan and Advances |
5.662 |
3.205 |
2.455 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
60.850 |
62.283 |
66.047 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
73.007 |
51.418 |
0.000 |
|
(b) Inventories |
68.723 |
113.854 |
116.746 |
|
(c) Trade receivables |
113.430 |
133.739 |
139.271 |
|
(d) Cash and cash
equivalents |
18.904 |
9.720 |
30.397 |
|
(e) Short-term loans and
advances |
78.652 |
111.249 |
90.579 |
|
(f) Other current assets |
63.450 |
0.000 |
0.043 |
|
Total Current Assets |
416.166 |
419.980 |
377.036 |
|
|
|
|
|
|
TOTAL |
477.016 |
482.263 |
443.083 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
738.835 |
755.058 |
746.391 |
|
|
Other Income |
21.427 |
15.006 |
19.320 |
|
|
TOTAL |
760.262 |
770.064 |
765.711 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
537.978 |
532.821 |
535.915 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(30.927) |
(2.396) |
(6.545) |
|
|
Employees benefits
expense |
22.079 |
19.973 |
14.690 |
|
|
Exceptional items |
9.380 |
0.000 |
0.000 |
|
|
Other expenses |
150.690 |
142.129 |
139.707 |
|
|
TOTAL |
689.200 |
692.527 |
683.767 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
71.062 |
77.537 |
81.944 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
6.137 |
5.739 |
5.669 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
64.925 |
71.798 |
76.275 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
12.035 |
18.850 |
20.625 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
52.890 |
52.948 |
55.650 |
|
|
|
|
|
|
|
Less |
TAX |
20.063 |
16.874 |
16.484 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
32.827 |
36.074 |
39.166 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
160.720 |
165.894 |
126.728 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Provision for dividend
including taxes |
0.000 |
41.162 |
0.000 |
|
|
Accelerated Depreciation as
per Companies Act, 2013 |
0.000 |
0.086 |
0.000 |
|
|
Total |
0.000 |
41.248 |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
193.547 |
160.720 |
165.894 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
309.592 |
392.363 |
417.328 |
|
|
TOTAL EARNINGS |
309.592 |
392.363 |
417.328 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
308.947 |
283.378 |
322.070 |
|
|
TOTAL IMPORTS |
308.947 |
283.378 |
322.070 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
18.79 |
18.99 |
21.09 |
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 |
65.060 |
77.936 |
54.147 |
|
Net cash flow from operating activities |
64.353 |
77.936 |
54.147 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors
/ Income * 365) |
56.04 |
64.65 |
68.11 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
6.51 |
5.65 |
5.36 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
45.17 |
65.23 |
69.19 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.03 |
0.68 |
0.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.32 |
1.37 |
1.29 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.51 |
0.58 |
0.53 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.45 |
0.52 |
0.35 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.80 |
1.12 |
0.88 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.23 |
0.28 |
0.31 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
11.58 |
13.51 |
14.45 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
4.44 |
4.78 |
5.25 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.88 |
7.48 |
8.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.96 |
17.83 |
18.88 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.22 |
1.85 |
2.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.85 |
1.35 |
1.43 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.49 |
0.42 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.61 |
5.49 |
3.84 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.22 |
1.85 |
2.07 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
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 |
19.000 |
19.000 |
19.000 |
|
Reserves & Surplus |
188.487 |
183.312 |
216.139 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
207.487 |
202.312 |
235.139 |
|
|
|
|
|
|
Long-term borrowings |
53.136 |
53.065 |
54.371 |
|
Short term borrowings |
19.915 |
51.180 |
52.143 |
|
Total borrowings |
73.051 |
104.245 |
106.514 |
|
Debt/Equity ratio |
0.352 |
0.515 |
0.453 |
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 |
746.391 |
755.058 |
738.835 |
|
|
|
1.161 |
(2.149) |
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 |
746.391 |
755.058 |
738.835 |
|
Profit |
39.166 |
36.074 |
32.827 |
|
|
5.25% |
4.78% |
4.44% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF BUSINESS OPERATIONS
AND FUTURE PROSPECTS
There has been a fall of about 2% in the sales turnover of the Company. The total sales during the year amounted to INR 738.835 Million as compared to INR 755.058 Million that of the last year for the same period. Though the share in Domestic market has gone up, the export are lower particularly on three major accounts which are USA, Indonesia and Middle East, apart from the loss of business in February and March due to fire. There is a likelihood of revival of Indonesian business this year but while they are not still sure about business with Penn Color USA, the Middle East Asia business may remain affected due to some key customers opting for Pigment route. They are trying to make up the short fall from alternate customer base in South America and South East Asia. They are also working on new product line such as UV.
There was a fire in factory in the month of February, 2017 resulting in a loss of fixed assets of INR 9.191 Million (W.D.V.) which has been written off in Profit & Loss Account as an exceptional item and loss of stock of raw materials, work in progress and finished goods amounting to INR 63.386 Million has been shown as receivables against the insurance claim. Hence it has not affected the profit and loss position of the Company. The net profit before tax amounted to INR 52.890 Million as compared to INR 52.948 Million that of the last year. The Company is positive about a growth of 5-10% in sales in financial year 2017-18.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
Loans and advances
from related parties |
|
|
|
Loans from directors |
16.867 |
15.443 |
|
Loans and advances from others |
8.578 |
8.869 |
|
Inter corporate borrowing |
28.926 |
28.753 |
|
Total |
54.371 |
53.065 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G66354200 |
10354881 |
CITI BANK N.A. |
02/04/2012 |
30/10/2017 |
- |
100000000.0 |
First International Financial Centre, 9th Floor, Plot No. C-54 and 55, BKC, Bandra (East), Mumbai-400051, Maharashtra, India |
|
2 |
B56352479 |
10053012 |
HDFC BANK LIMITED |
03/04/2007 |
- |
17/08/2012 |
5000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bills Receivable and discounting with bank |
52.143 |
51.180 |
|
Directors remuneration on account of salary |
4.787 |
4.369 |
|
Total |
56.930 |
55.549 |
FIXED ASSETS:
- Plant and
Machinery
- Chip cutting
machine
- Lab mixer
- Lab roller
- Electric
installation
- New lab
electrification
- Furniture and
Fixture
- Computer
- Motor
- Scooter
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.78 |
|
|
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
AKY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BHG |
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.