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MIRA INFORM REPORT
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Report No. : |
488958 |
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Report Date : |
01.02.2018 |
IDENTIFICATION DETAILS
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Name : |
CYTECH COATINGS PRIVATE LIMITED |
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Registered
Office : |
Plot No- C-1/3221 and 3223/1, G.I.D.C. Sarigam, Taluka – Umbergaon,
Sarigam – 396155, Gujarat |
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Tel. No.: |
91-260-2781321/ 2423514 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
13.04.2009 |
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Com. Reg. No.: |
04-056593 |
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Capital
Investment / Paid-up Capital : |
INR 9.700 Million |
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CIN No.: [Company Identification
No.] |
U24223GJ2009PTC056593 |
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IEC No.: |
5210011771 |
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GSTIN/UIN: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCC6403H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in Manufacturing of Printing Inks, Resins and Chemicals. (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)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 190000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2009 having satisfactory track record. It is engaged as manufacturer and exporter of printing inks, like flexo and gravure inks, lamination adhesives and polyurethane resins. As per the financials of 2017, the company has achieved decent growth in its revenue as compared to previous year revenue and has maintained average profitability margin during the year. The company’s sound financial profile is reflected by its above average solvency indicators due to low debt balance sheet profile along with strong net worth base. Rating also derive strength from company’s established track record of business operations and promoters extensive industry experience. However, rating strength partially offset by vulnerability of its operating margins to volatility in raw material prices and working capital intensive operations. Payment terms are seems to be slow but correct. In view of 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating = B+ |
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Rating Explanation |
Risk-prone-credit-quality and carries very
high credit risk. |
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Date |
22.08.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating = A4 |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
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Date |
22.08.2017 |
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 31.01.2018.
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. Viren Desai |
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Designation : |
Purchase Manager |
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Date : |
29.01.2018 |
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Name : |
Mr. Sharwan Sharma |
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Designation : |
Finance Department |
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Contact No.: |
91-9824712461 |
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Date : |
29.01.2018 |
LOCATIONS
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Registered Office/ Factory 1 : |
Plot No- C-1/3221 and 3223/1, G.I.D.C. Sarigam, Taluka – Umbergaon,
Sarigam, District Valsad – 396155, Gujarat, India |
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Tel. No.: |
91-260-2781321/ 2423514/ 2780132 |
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Mobile No.: |
91-9824712461 (Mr. Sharwan Sharma) |
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Fax No.: |
91-260-2781321 |
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E-Mail : |
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Website : |
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Factory 2 : |
Part of ACR Group of Companies 11, Peninsula Centre, S.S. Rao Road,
Parel (E), Mumbai – 400012, Maharashtra, India |
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Tel. No.: |
91-22-40586777 |
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Fax No.: |
91-22-40586770 |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Birendrakant Gyanprakash Srivastava |
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Designation : |
Managing Director |
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Address : |
Ec-94 C-003, Krishna Vandan Co-Operative Housing Society, Evershine
City, Vasai East, Thane – 401 205, Maharashtra, India |
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Date of Birth/Age : |
02.01.1973 |
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Date of Appointment : |
15.05.2013 |
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DIN No.: |
02609627 |
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Other Directorship:
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Name : |
Mr. Manish Kumar Bansnarayan Ray |
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Designation : |
Director |
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Address : |
At/Po. Sarigam, Ta.Umbergam, District – Valsad, Sarigam – 396 171,
Gujarat, India |
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Date of Birth/Age : |
20.05.1983 |
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Date of Appointment : |
03.05.2013 |
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DIN No.: |
03512320 |
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Other Directorship:
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Name : |
Mr. Nitu Birendra Srivastava |
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Designation : |
Director |
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Address : |
Malhar 'B' Co-operative Hosing 30c, Near. Pioner Bakery,
Silvas Road, Chano D, Vapi - 396195, Gujarat, India |
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Date of Appointment : |
04.09.2017 |
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DIN No.: |
03399349 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Viren Desai |
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Designation : |
Purchase Manager |
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Name : |
Mr. Sharwan Sharma |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Birendrakant Gyanprakash Srivastava |
679000 |
70.00 |
|
Manish Kumar Bansnarayan Ray |
291000 |
30.00 |
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Total |
970000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 07.08.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in Manufacturing Of Printing Inks, Resins and Chemicals. (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 : |
(INR
In Million)
LONG TERM
BORROWING Term Loan from
Banks: (a)Loan From Dena Bank -Term Loan 23871 been closed in this finacial year (b) [Secured against Plant and Machinery. The term loan was taken during the financial year 2014-15 and carries interest@l3.25% p.a. the loan is repayable in 60 monthly installments of INR 4,00,000/- plus interest thereon, commencing after period of 6 months from first disbursement amount.The Loan is secured by first charge in favor of Dena Bank over Leasehold Factory Land and Building on Plot C 1/3221and3223/1, GIDC Sarigam Tal - Umbergaon Gujarat - 396155 and Equitable Mortgage over Plot C-1/3221and3223/1, GIDC Sarigam Tal - Umbergaon Gujarat - 396155 and Hypothecation over the entire movable Fixed Assets including Plant and Machinery present and future of the company (c) [Secured against PlantandMachinery. The term loan was taken during the financial year 2016-17 and carries interest@13.25% p.a.the loan is repayable in 72 monthly installments of INR.5,97,222/- plus interest thereon, commencing after period of 6 months from first disbursement amount. The Loan is secured by first charge in favor of Dena Bank over Leasehold Factory Land and Building on Plot C-1/3221and3223/1, GIDC Sarigam Tal - Umbergaon Gujarat - 396155 and Equitable Mortgage over Plot C-1/3221and3223/1, GIDC SaripmTal - Umbergaon Gujarat - 396155 and Hypothecation over the entire movable Fixed Assets including Plant and future of the company. 2.Vehicle Loans (a) BOB-Eicher Mini Truck Loan has been closed in this finacial year (b) BOB Forklift Truck Loan was taken during 2012 year and carries interest @11.35%.The Loan is repayable in monthly installment of INR 19,444/- Plus interest thereon.The BOB Forklift Loan is secured by hyphothication of Vehicle of the company 3.Other Loans Secured by way of PeINRonal guarantee of DirectoINR (a)Loan of INR 25,38,452/- From Religare Finvest Limited is repayable in 36 equal installments of INR 92,430/-. (c) Loan of INR 20,20,000/- From Bajaj Finance Limited is repayable in 24 equal installment of INR 1,01,825/- (d)
(c) Loan of INR 30,00,000/- From Capital FiINRt Limited is repayable in 24 equal installment of INR 1,51,956/- (e) Loan of INR 40,00,000/- From Tata Capital Financial is repayable in 36 equal installment of INR 1,25,415/- (e) Loan of INR 40,00,000/- From Tata Capital Financial Services Ltd - 6521358 is repayable in 36 equal installment of INR 1,40,628/- (f) Loan of INR 40,23,010/- From Magma Fincorp Limited is repayable in 36 equal installment of INR 1,42,432/- g) Loan of INR 25,00,000/-From HDB Financial Services repayable in 36 equal installment of INR 91,640/- (h) Loan of INR,30,30,000/-From Bajaj Finance Limited is repayable in 24 equal installment of INR 1,49,810/- SHORT TERM
BORROWING (A) and (B) [Secured by hypothecation of stocks and book debts by way of first charge in favor of Dena bank over entire Current Assets of the company including Raw Materials, Stock in Process, Stock in Transit, store & spare, Finished Goods, Receivable, Book Debts and other chargeable Current Assets both present and future wherever situated including Hypothecation over entire Movable Fixed Assets including Plant and Machinery present and future of the company and personal gaurantee of all the directors of the company] (C) [Secured by hypothecation of Raw material, stock in proces, finished goods, stores, spares meant for export] (D) [Secured by Shipping Document Accompained By bill of Ladding, Air Way Bill etc. Covering consignment of Raw Material] |
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Auditors : |
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Name : |
G.B. Laddha and Company LLP Chartered Accountants |
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Address : |
1-2, Second Floor, Sahara Market, Slivassa Road, Vapi – 396191,
Gujarat, India |
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Fax No.: |
91-260-2425966 |
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Mon. No.: |
91-8347744411/ 422/ 433 |
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Email: |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFG2280N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates: |
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Other related parties |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
970000 |
Equity Shares |
INR 10/- each |
INR 9.700 Million |
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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 |
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|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
9.700 |
9.700 |
9.700 |
|
(b) Reserves &
Surplus |
58.624 |
51.078 |
46.641 |
|
(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) |
68.324 |
60.778 |
56.341 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
56.002 |
41.888 |
20.327 |
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(b) Deferred tax liabilities
(Net) |
1.656 |
1.594 |
1.060 |
|
(c) Other long term
liabilities |
31.248 |
19.444 |
21.110 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
88.906 |
62.926 |
42.497 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
121.669 |
98.309 |
78.640 |
|
(b) Trade payables |
89.073 |
56.481 |
39.249 |
|
(c) Other current
liabilities |
31.358 |
24.341 |
18.438 |
|
(d) Short-term provisions |
1.801 |
2.407 |
1.600 |
|
Total Current Liabilities
(4) |
243.901 |
181.538 |
137.927 |
|
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|
|
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TOTAL |
401.131 |
305.242 |
236.765 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
106.912 |
63.902 |
50.736 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
17.133 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.076 |
0.568 |
0.936 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
108.988 |
64.470 |
68.805 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
38.743 |
44.855 |
28.862 |
|
(c) Trade receivables |
185.778 |
144.404 |
112.870 |
|
(d) Cash and cash
equivalents |
43.442 |
18.258 |
8.674 |
|
(e) Short-term loans and
advances |
23.999 |
33.217 |
17.535 |
|
(f) Other current assets |
0.181 |
0.038 |
0.019 |
|
Total Current Assets |
292.143 |
240.772 |
167.960 |
|
|
|
|
|
|
TOTAL |
401.131 |
305.242 |
236.765 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
546.559 |
411.917 |
296.106 |
|
|
Other Income |
4.608 |
6.126 |
6.218 |
|
|
TOTAL |
551.167 |
418.043 |
302.324 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
441.606 |
329.096 |
233.302 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.802 |
(3.730) |
8.202 |
|
|
Employees benefits
expense |
20.852 |
18.532 |
13.180 |
|
|
Other expenses |
50.802 |
41.721 |
29.046 |
|
|
TOTAL |
515.062 |
385.619 |
283.730 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
36.105 |
32.424 |
18.594 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
14.477 |
13.427 |
6.459 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
21.628 |
18.997 |
12.135 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.194 |
11.500 |
6.956 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
9.434 |
7.497 |
5.179 |
|
|
|
|
|
|
|
Less |
TAX |
1.883 |
3.060 |
1.508 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
7.551 |
4.437 |
3.671 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
224.042 |
116.716 |
112.740 |
|
|
TOTAL EARNINGS |
224.042 |
116.716 |
112.740 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
106.261 |
94.010 |
47.100 |
|
|
TOTAL IMPORTS |
106.261 |
94.010 |
47.100 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
8.00 |
4.57 |
3.79 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
17.970 |
10.982 |
5.872 |
|
Cash generated from operations |
53.146 |
(19.864) |
4.097 |
|
Net cash flows from (used in) operations |
51.482 |
(7.228) |
2.247 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
124.07 |
127.96 |
139.13 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.94 |
2.85 |
2.62 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
73.62 |
62.64 |
61.40 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.93 |
0.72 |
0.64 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.34 |
0.51 |
0.27 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.79 |
0.77 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.86 |
2.49 |
1.86 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.57 |
2.99 |
2.45 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.56 |
1.05 |
1.20 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.49 |
2.41 |
2.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.38 |
1.08 |
1.24 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.88 |
1.45 |
1.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
11.05 |
7.30 |
6.52 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.20 |
1.33 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.04 |
1.08 |
1.01 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.17 |
0.20 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
20.17 |
15.59 |
10.81 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.20 |
1.33 |
1.22 |
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 |
9.700 |
9.700 |
9.700 |
|
Reserves & Surplus |
46.641 |
51.078 |
58.624 |
|
Net worth |
56.341 |
60.778 |
68.324 |
|
|
|
|
|
|
long-term borrowings |
20.327 |
41.888 |
56.002 |
|
Short term borrowings |
78.640 |
98.309 |
121.669 |
|
Current Maturities of
Long term debt |
5.872 |
10.982 |
17.970 |
|
Total borrowings |
104.839 |
151.179 |
195.641 |
|
Debt/Equity ratio |
1.861 |
2.487 |
2.863 |
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 |
296.106 |
411.917 |
546.559 |
|
|
|
39.111 |
32.687 |
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 |
296.106 |
411.917 |
546.559 |
|
Profit/(Loss) |
3.671 |
4.437 |
7.551 |
|
|
1.24% |
1.08% |
1.38% |
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Corporate
Information
The company is Private limited Company incorporated under the provision of companies Act, 1956. The Company is engaged in Manufacturing Of Printing Inks, Resins and Chemicals.
Operations and
State of Company's affairs
During the year the company's total income was INR 551.167 Million as against INR 418.043 Million in previous year. The company has made net profit before tax INR 9.434 Million for the year.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Unsecured Loan from Directors |
7.085 |
7.606 |
|
Total |
7.085 |
7.606 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G00520585 |
10545920 |
DENA BANK |
05/01/2015 |
21/03/2016 |
- |
199526000.0 |
ROZY EMPIRE BUILDING, OPP. BHAVSAR PETROL PUMP,VAPI SILVASSA ROADVAPIGJ396191IN |
|
2 |
G00170670 |
10532384 |
DENA BANK |
05/11/2014 |
16/03/2016 |
- |
199526000.0 |
ROZY EMPIRE BUILDING, OPP. BHAVSAR PETROL PUMP,VAPI SILVASSA ROADVAPIGJ396191IN |
|
3 |
C34309054 |
10532331 |
BANK OF BARODA |
24/07/2014 |
- |
- |
700000.0 |
VAPI IND ESTATE BRANCHG.I.D.CVAPIGJ396195IN |
|
4 |
C38892014 |
10557912 |
BANK OF BARODA |
23/10/2013 |
- |
- |
758000.0 |
VAPI IND ESTATE BRANCHG.I.D.CVAPIGJ396195IN |
|
5 |
C49519523 |
10325789 |
BANK OF BARODA |
19/11/2011 |
24/02/2014 |
09/04/2015 |
76924000.0 |
VAPI IND ESTATE BRANCHG.I.D.C.VAPIGJ396195IN |
|
6 |
C38891768 |
10354254 |
BANK OF BARODA |
07/05/2012 |
24/02/2014 |
26/12/2014 |
76924000.0 |
VAPI IND ESTATE BRANCHG.I.D.CVAPIGJ396195IN |
|
7 |
B60931896 |
10247402 |
HDFC BANK LIMITED |
15/09/2010 |
05/11/2011 |
10/10/2012 |
55000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
FIXED ASSETS:
- Land
- Factory
Building
- Factory
Equipment
- Lab Equipment
- Office
Equipment
- Plant and
Machinery
- Furniture and
Fixture
- Motor
Vehicles
- Computers
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 63.68 |
|
|
1 |
INR 90.35 |
|
Euro |
1 |
INR 79.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKTS |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.