|
|
|
MIRA INFORM REPORT
|
Report No. : |
489771 |
|
Report Date : |
02.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
KUSH SYNTHEITCS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
209, Thakore Bai Mithaiwala Market, Above Bank of Rajasthan, Sharma
Darwaja, Ring Road, Surat – 395003, Gujarat |
|
Tel. No.: |
91-261-2344251/ 2322715 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
20.10.1997 |
|
|
|
|
Com. Reg. No.: |
04-033214 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 137.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110GJ1997PTC033214 |
|
|
|
|
IEC No.: |
5205017791 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
SRTK00129D |
|
|
|
|
GSTIN : |
24AABCK2282J1ZM |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK2282J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
(Registered activity)
|
|
|
|
|
No. of Employees
: |
150 (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 : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 1997 and is into manufacturing
and exporting of glass fiber fabrics, electric power generation using wind
mills. As per the financial records of 2017, the company has achieved a
decent growth of 54.18% in its revenue as compared to the provisions year’s
revenue and has gained a favourable net profit margin of 13.49%. The company possesses healthy financial position marked by above
average net worth base along with negligible debt balance sheet profile and
comfortable liquidity parameters. Trade relations are reported as fair. Business is active. Payments are
seems to be usually 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Loan Term Loans (Withdrawal) = (BB) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
11.08.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Loans (Withdrawal) = (A4) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
11.08.2017 |
Reason for Withdrawal = The Withdrawal of the rating
is at the request of the company.
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 02.02.2018
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 (GENERAL INFORMATION)
|
Name : |
Mr. Sunil Bachwani |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9925633389 |
|
Date : |
01.02.2018 |
LOCATIONS
|
Registered Office : |
209, Thakore Bai Mithaiwala Market, Above Bank of Rajasthan, Sharma
Darwaja, Ring Road, Surat – 395003, Gujarat, India |
|
Tel. No.: |
91-261-2344251/ 2322715 |
|
Mobile No.: |
91-9925633389 (Mr. Sunil Bachwani) |
|
Fax No.: |
91-261-2344253 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Administrative Office : |
303, Zodiac Square, S.G. Highway (Opposite Gurudwara), Thaltej,
Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
91-79-40092299 |
|
Fax No.: |
91-79-40092299 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Factory : |
Glass
Fibre Unit Survey No.146-147, Village: Moti Chirai, N.H. 8-A,
Gandhidham – Bhachau Road, Bhachau (Kutch) – 370140, Gujarat, India |
|
Tel No.: |
91-2837-282374 |
|
Fax No.: |
91-2837-282375 |
|
Area : |
13 Acers |
|
Location : |
Owned |
|
|
|
|
Windmill : |
Located at: 4 in Kutch Located at: 2 in Rajasthan |
|
|
|
|
Overseas Office 1 : |
12700 Stowe Drive, Suite 230, Poway, CA – 92064, United
States |
|
Tel No.: |
+1 858 679 7300 |
|
Fax No.: |
+1 858 679 7335 |
|
|
|
|
Overseas Office 2 : |
Springendalhoek 48, 7546GT Enschede (Overijssel),
Netherlands |
|
Tel No.: |
+31 53 4772401 |
|
Fax No.: |
+31 84 7101329 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Prashant Mansukhabhai Virani |
|
Designation : |
Director |
|
Address : |
Virani Bhavan, Opposite Jolly Bungalow, Club Road, Jamnagar – 361005,
Gujarat, India |
|
Date of Birth/Age : |
29.08.1984 |
|
Qualification : |
BBA |
|
Date of Appointment : |
30.06.2012 |
|
PAN No.: |
AGZPV7072Q |
|
DIN No.: |
03147176 |
|
|
|
|
Name : |
Mr. Dineshchandra Karsanbhai Patel |
|
Designation : |
Director |
|
Address : |
Sumair Club Road, Near Jolly Bunglow, Jamnagar – 361005, Gujarat, India |
|
Date of Birth/Age : |
13.05.1958 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
20.10.1997 |
|
PAN No.: |
ABJPP7388Q |
|
DIN No.: |
02209650 |
|
|
|
|
Name : |
Mr. Mansukhlal Karsandas Patel |
|
Designation : |
Director |
|
Address : |
B-404, Palak Crystal, Opposite Saibaba Temple, Satellite,
Ahmedabad City, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
17.12.1952 |
|
Qualification : |
B.Sc |
|
Date of Appointment : |
20.10.1997 |
|
PAN No.: |
ABJPP7390J |
|
DIN No.: |
00873403 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Bachwani |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Mansukhlal K. Patel |
|
600000 |
|
Dineshchandra K. Patel |
|
1100000 |
|
Mansukhbhai K. Patel (HUF) |
|
500000 |
|
Dineshbhai K. Patel (HUF) |
|
1500 |
|
Kiranben M. Patel |
|
1900000 |
|
Rasilaben D. Patel |
|
1900000 |
|
Kesharben K. Patel |
|
748500 |
|
Kishorbhai K. Patel |
|
500000 |
|
Jay D. Virani |
|
375000 |
|
Prashant M. Virani |
|
375000 |
|
Total |
|
8000000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Kesarben K. Patel |
|
490000 |
|
Dineshchandra K. Patel |
|
420000 |
|
Kiranben M. Patel |
|
560000 |
|
Kishorbhai K. Patel |
|
300000 |
|
Mansukhbhai K. Patel |
|
750000 |
|
Mansukhbhai K. Patel (HUF) |
|
200000 |
|
Vibhaben K. Patel |
|
780000 |
|
Jay Dinesh Virani |
|
1500000 |
|
Jay D. Virani |
|
375000 |
|
Prashant M. Virani |
|
375000 |
|
Total |
|
5750000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
(Registered activity)
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cheque and Credit (30 Days) |
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Purchasing : |
Cheque and Credit (30 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, End Users
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
V.H. Gundarwala and Company Chartered Accountants |
|
Address : |
Gate No.6, 123,
1st Floor, Multi Storied Building, Near Vatsalya Hospital,
Singapuri Wadi, Rustompura, Surat – 395 002, Gujarat, India |
|
Tel No.: |
91-261-2353116 |
|
Mobile No.: |
91-9824123329 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABHPG3627M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
L17119GJ1992PLC017218 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8750000 |
Equity Shares |
INR 10/- each |
INR 87.500 Million |
|
5750000 |
Preference Shares |
INR 10/- each |
INR 57.500 Million |
|
|
|
|
|
|
|
Total |
|
INR 145.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
INR 10/- each |
INR 80.000 Million |
|
5750000 |
Preference Shares |
INR 10/- each |
INR 57.500 Million |
|
|
|
|
|
|
|
Total |
|
INR 137.500 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 |
137.500 |
137.500 |
137.500 |
|
(b) Reserves and Surplus |
777.291 |
605.794 |
544.267 |
|
(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) |
914.791 |
743.294 |
681.767 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
85.924 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.018 |
0.684 |
0.703 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
85.942 |
0.684 |
0.703 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
5.651 |
39.886 |
7.244 |
|
(b) Trade
payables |
117.523 |
115.567 |
94.296 |
|
(c) Other
current liabilities |
7.568 |
7.171 |
80.699 |
|
(d) Short-term
provisions |
216.263 |
155.967 |
139.430 |
|
Total Current
Liabilities (4) |
347.005 |
318.591 |
321.669 |
|
|
|
|
|
|
TOTAL |
1347.738 |
1062.569 |
1004.139 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
467.966 |
349.754 |
399.969 |
|
(ii)
Intangible Assets |
0.004 |
0.006 |
0.008 |
|
(iii) Tangible assets capital
work-in-progress |
0.947 |
10.277 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.516 |
7.516 |
9.512 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
60.816 |
58.388 |
76.817 |
|
(e) Other
Non-current assets |
0.098 |
0.074 |
0.078 |
|
Total Non-Current
Assets |
537.347 |
426.015 |
486.384 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
142.817 |
130.466 |
94.003 |
|
(c) Trade
receivables |
192.271 |
213.636 |
150.926 |
|
(d) Cash and
bank balances |
265.770 |
207.858 |
244.038 |
|
(e)
Short-term loans and advances |
209.533 |
84.594 |
28.788 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
810.391 |
636.554 |
517.755 |
|
|
|
|
|
|
TOTAL |
1347.737 |
1062.569 |
1004.139 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1270.995 |
824.361 |
336.715 |
|
|
Other Income |
39.267 |
14.838 |
7.099 |
|
|
TOTAL |
1310.262 |
839.199 |
343.814 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
791.985 |
547.115 |
190.328 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(10.403) |
1.091 |
1.830 |
|
|
Employee benefit expense |
56.582 |
47.646 |
28.572 |
|
|
CSR expenditure |
0.300 |
0.000 |
0.000 |
|
|
Other expenses |
157.820 |
99.391 |
59.865 |
|
|
Prior period items before tax |
(0.197) |
(2.277) |
0.021 |
|
|
TOTAL |
996.087 |
692.966 |
280.616 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
314.175 |
146.233 |
63.198 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
31.271 |
16.562 |
3.536 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
282.904 |
129.671 |
59.662 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
51.407 |
52.145 |
59.303 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
231.497 |
77.526 |
0.359 |
|
|
|
|
|
|
|
Less |
TAX |
60.000 |
16.000 |
30.070 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
171.497 |
61.526 |
(29.711) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
9.265 |
28.455 |
|
|
TOTAL EARNINGS |
0.000 |
9.265 |
28.455 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
113.081 |
154.308 |
16.112 |
|
|
Capital Goods |
117.642 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
230.723 |
154.308 |
16.112 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
12.44 |
7.69 |
(3.71) |
Expected Sales (2017-2018) : INR 1400.000 Million
The above information has been parted by Mr. Sunil Bachwani (Accounts
Manager)
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 |
|
Net cash flows from (used in) operations |
246.543 |
(53.725) |
68.011 |
|
Net cash flows from (used in) operating activities |
246.346 |
(56.002) |
68.032 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
55.22 |
94.59 |
163.60 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.61 |
3.86 |
2.23 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
54.16 |
77.10 |
180.84 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.20 |
1.12 |
0.67 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.67 |
0.41 |
0.16 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.32 |
0.30 |
0.32 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.10 |
0.05 |
0.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.38 |
0.43 |
0.47 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.51 |
0.48 |
0.59 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
10.05 |
8.83 |
17.87 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
13.49 |
7.46 |
(8.82) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
12.72 |
5.79 |
(2.96) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
18.75 |
8.28 |
(4.36) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.34 |
2.00 |
1.61 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.92 |
1.59 |
1.32 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.68 |
0.70 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.67 |
0.29 |
0.05 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.34 |
2.00 |
1.61 |
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 |
137.500 |
137.500 |
137.500 |
|
Reserves & Surplus |
544.267 |
605.794 |
777.291 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Net
worth |
681.767 |
743.294 |
914.791 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
85.924 |
|
Short term borrowings |
7.244 |
39.886 |
5.651 |
|
Total
borrowings |
7.244 |
39.886 |
91.575 |
|
Debt/Equity
ratio |
0.011 |
0.054 |
0.100 |
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 |
336.715 |
824.361 |
1270.995 |
|
|
0.000 |
144.825 |
54.179 |
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 |
336.715 |
824.361 |
1270.995 |
|
Profit/ (Loss) |
(29.711) |
61.526 |
171.497 |
|
|
(8.82
%) |
7.46
% |
13.49
% |
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 |
Yes |
|
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) |
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 |
-- |
|
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 |
STATE OF COMPANY'S AFFAIRS
During the year, company's financial result was showed upward performance as compared to previous financial year. The operational revenue generated by the company was increased as compared to previous financial year from INR 824.361 Million to INR 1270.995 Million. Likewise, the total expenditure was also increased as compared to previous financial year from INR 763.950 Million to INR 1078.962 Million and the Company has earned Net Profit After Tax of INR 171.497 Million at the end of the financial year.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G37090487 |
100059088 |
ICICI BANK LIMITED |
27/10/2016 |
02/02/2017 |
- |
255000000.0 |
ICICI BANK TOWER, NEAR CHAKLI CIRCLE, OLD PADRA ROAD, VADODARA – 390007, GUJARAT, INDIA |
|
2 |
G03397353 |
90095473 |
STATE BANK OF PATIALA |
17/10/2005 |
13/04/2016 |
- |
150000000.0 |
COMMERCIAL BRANCH, FIRST FLOOR, ATLANTA, NARIMA POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
|
3 |
B75745844 |
10085592 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
12/01/2008 |
- |
26/04/2013 |
67000000.0 |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI – 400703, MAHARASHTRA, INDIA |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
Intangible assets
- Brands and trade marks
- Trade marks
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 63.75 |
|
|
1 |
INR 89.38 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
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.