|
|
|
MIRA
INFORM REPORT
|
Report No. : |
489486 |
|
Report Date : |
02.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAMRUDDHA RESOURCES LIMITED (w.e.f.16.04.2008) |
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|
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|
Formerly Known
As : |
SAMRUDDHA OVERSEAS LIMITED |
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Registered
Office : |
6th Floor, 'A'block, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra |
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Tel. No.: |
91-22-66619090 |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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|
|
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Date of
Incorporation : |
05.12.1997 |
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|
|
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Com. Reg. No.: |
11-112284 |
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|
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Capital
Investment / Paid-up Capital : |
INR 124.573 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U51900MH1997PLC112284 |
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IEC No.: |
Not Divulged |
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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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|
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PAN No.: [Permanent Account No.] |
AAECS7532A |
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|
|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The business of mining and trading of Iron Ore Fines and Lumps. (Registered Activity) |
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|
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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 : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Poor |
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Payment Behaviour : |
Slow and Delayed |
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Litigation : |
Clear |
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|
Comments : |
Samruddha Resources Limited was incorporated in the year 1997. It is
engaged in mining of metal ores. Management has failed to file its financials with registrar of
companies for the FY 2017. As per the available financials records of 2016, the revenue of the
company has decreased by 67.95% but has managed to maintain low profit margin
of 0.30%. Rating is constrained on account of delays in debt servicing. However, rating weakness is partially offset by sound financial
profile of the company marked by healthy networth base. Payments seems to be slow and delayed. In view of aforesaid, the company can be considered for business
dealings on safe and secured 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limits = D |
|
Rating Explanation |
Lowest-credit-quality and very low prospects
of recovery. |
|
Date |
02.08.2017 |
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 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 DENIED
Management Non-Cooperative (91-22-66619090)
LOCATIONS
|
Registered Office : |
6th Floor, 'A'block, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
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Tel. No.: |
91-22-66619090 |
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Fax No.: |
91-22-66619090 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vinay Rohidas Patil |
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Designation : |
Managing Director |
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Address : |
302, Purna, Sir Ponchkhanwala Road, Worli Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
22.02.1972 |
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Date of Appointment : |
05.12.1997 |
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Qualification: |
B.E., MBA |
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DIN No.: |
00522674 |
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Other Directorship:
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Name : |
Mr. Amit Anil Jagtap |
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Designation : |
Director |
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Address : |
C-60A, Abhimanshree Society, |
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Date of Birth/Age : |
03.02.1977 |
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Date of Appointment : |
07.01.2010 |
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DIN No.: |
00357982 |
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Other Directorship:
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Name : |
Mr. Ashish Bahadur |
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Designation : |
Director |
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Address : |
1301 - 3b, Phase Vi, Siddhachal Off. Pokharan, Road No. 2, Thane West, Thane – 400610, Maharashtra, India |
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Date of Birth/Age : |
11.05.1967 |
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Date of Appointment : |
13.01.2012 |
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Qualification: |
BA |
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DIN No.: |
01444885 |
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Other Directorship:
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Name : |
Mr. Manoj Vinayak |
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Designation : |
Director |
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Address : |
44 Telephone Colony Deopur, Dhule – 424005, Maharashtra, India |
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Date of Birth/Age : |
10.04.1968 |
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Qualification: |
Graduate |
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Date of Appointment : |
13.01.2012 |
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DIN No.: |
02798067 |
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Other Directorship:
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Name : |
Mr. Mangesh Prataprao Bhosale |
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Designation : |
Director |
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Address : |
1088, B/3, Himmat Villa, Hare Krishna Mandir Road, Model Colony, Shivajinagar, Pune – 411016, Maharashtra, India |
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Date of Appointment : |
21.08.2015 |
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DIN No.: |
06365648 |
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Other Directorship:
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Name : |
Shekhar Atmaram Gaonkar |
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Designation : |
Wholetime Director |
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Address : |
Xg-7, Sunset Boulevard - Dangui Colony, Alto - Dhuler Mapusa, In Bardez North, Goa – 403507, India |
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Date of Appointment : |
03.07.2017 |
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DIN No.: |
06487340 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Abhay patidar |
|
Designation : |
Company secretary |
|
Address : |
H. No. 85 Main Road Village Jamli, Mhow, Indore – 453441, Madhya Pradesh, India |
|
Date of Appointment : |
12.09.2014 |
|
PAN No.: |
AMLPP2371A |
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|
|
|
Name : |
Mr. Ketan Jitendra Vora |
|
Designation : |
Chief Finance Officer |
|
Address : |
301, Rajshree Vatika, Bhaji Galli, Opposite Building No. 34, Pantnagar, Ghatkopar, Mumbai – 400075, Maharashtra, India |
|
Date of Appointment : |
12.09.2014 |
|
PAN No.: |
AAFPV6410L |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Vinay Patil |
|
2704455 |
|
Kunal Patil |
|
1918385 |
|
Lata Rohidas Patil |
|
150 |
|
Ruchi Vinay Patil |
|
2070950 |
|
Teeshee Holding Private Limited, India |
|
5700000 |
|
Smita C Patil |
|
100 |
|
Arjeet Vinay Patil |
|
63300 |
|
Total |
|
12457340 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
21.71 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
32.53 |
|
Public/Other than promoters - Body corporate |
45.76 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The business of mining and trading of Iron Ore Fines and Lumps. (Registered Activity) |
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Products / Services
: |
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||||
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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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||||
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Imports : |
Not Divulged |
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|
||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
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)
|
|
Auditors : |
|
|
Name : |
M. B. Agrawal and Company Chartered Accountants |
|
Address : |
204, Mhatre Pen Building, Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFM5230D |
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|
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
|
Associate: |
· Terminus Security and Manpower Private Limited U74900MH2014PTC256384] · Tech Sutre Industries Limited U13200MH2003PLC141188 |
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|
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Subsidiary: |
· Samruddha Phosphates Private Limited U24100MH2003PTC141309 · Tara Spaces Private Limited U45400MH2013PTC241354 |
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|
|
|
Related parties: |
· Dhule Textiles Park Private Limited · LRP Securities Services Private Limited · RVK Infrastructure Private Limited · Samruddha International Limited · Samruddha Phosphates Private Limited · Techsutre Industries Private Limited · Terre Holding Limited · Tycoon Agency Private Limited · Tvish Reality Private Limited · Tara Dwellings Private Limited · Tara Spaces Private Limited · Tara and Janaki Developers LLP · Tara and Janaki Mahim Realty LLP · Anusaya Infrastructure Private Limited · Raya Fabrics Private Limited · Techonic Mineral Resources · Techonic Mining Resources (TMR) Limited · Pacific Residentials Private Limited · Eden Dwelling Private Limited · Midcity Infrastructure Private Limited · Samruddha Food Products Private Limited · Mineral Resources Techonic Mining Resources (TMR) Limited |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12457340 |
Equity Shares |
INR 10/- each |
INR 124.573 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
124.573 |
124.573 |
124.573 |
|
(b) Reserves &
Surplus |
1454.946 |
1452.486 |
1380.000 |
|
(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) |
1579.519 |
1577.059 |
1504.573 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
350.085 |
1073.585 |
5.750 |
|
(b) Deferred tax
liabilities (Net) |
10.260 |
16.347 |
13.692 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
108.106 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
360.345 |
1089.932 |
127.548 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
313.108 |
325.647 |
301.756 |
|
(b) Trade payables |
120.410 |
47.694 |
914.369 |
|
(c) Other current
liabilities |
424.528 |
631.550 |
792.811 |
|
(d) Short-term provisions |
44.190 |
41.115 |
26.753 |
|
Total Current Liabilities
(4) |
902.236 |
1046.006 |
2035.689 |
|
|
|
|
|
|
TOTAL |
2842.100 |
3712.997 |
3667.810 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
147.761 |
167.537 |
128.484 |
|
(ii) Intangible Assets |
99.105 |
145.449 |
558.570 |
|
(iii) Capital
work-in-progress |
12.985 |
17.619 |
4.662 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
295.621 |
294.401 |
286.444 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1537.524 |
1853.760 |
894.491 |
|
(e) Other Non-current
assets |
5.760 |
5.760 |
40.962 |
|
Total Non-Current Assets |
2098.756 |
2484.526 |
1913.613 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
20.000 |
|
(b) Inventories |
265.088 |
298.899 |
283.042 |
|
(c) Trade receivables |
87.415 |
33.554 |
161.711 |
|
(d) Cash and cash
equivalents |
45.373 |
50.217 |
88.636 |
|
(e) Short-term loans and
advances |
333.801 |
834.282 |
1193.197 |
|
(f) Other current assets |
11.667 |
11.519 |
7.611 |
|
Total Current Assets |
743.344 |
1228.471 |
1754.197 |
|
|
|
|
|
|
TOTAL |
2842.100 |
3712.997 |
3667.810 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
807.899 |
2521.423 |
6170.460 |
|
|
Other Income |
125.169 |
241.414 |
44.260 |
|
|
TOTAL |
933.068 |
2762.837 |
6214.720 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
267.846 |
240.086 |
261.916 |
|
|
Purchases of
Stock-in-Trade |
71.524 |
400.324 |
727.439 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
33.811 |
(15.856) |
48.766 |
|
|
Employees benefits
expense |
57.392 |
65.158 |
103.794 |
|
|
Expenditure on production, transportation and other expenditure pertaining to exploration and production activities |
0.152 |
0.020 |
0.000 |
|
|
Exceptional item |
0.021 |
(2.393) |
7.713 |
|
|
CSR expenses |
7.121 |
2.853 |
0.060 |
|
|
Other expenses |
357.093 |
1862.041 |
4188.362 |
|
|
TOTAL |
794.960 |
2552.233 |
5338.050 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
138.108 |
210.604 |
876.670 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
62.916 |
40.381 |
47.424 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
75.192 |
170.223 |
829.246 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
68.452 |
67.164 |
50.255 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
6.740 |
103.059 |
778.991 |
|
|
|
|
|
|
|
Less |
TAX |
4.280 |
45.792 |
335.431 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
2.460 |
57.267 |
443.560 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.2 |
4.6 |
35.61 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
7.896 |
7.128 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
260.616 |
826.115 |
2062.701 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average
Collection Days (Sundry Debtors /
Income * 365 Days) |
39.49 |
4.86 |
9.57 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
9.24 |
75.15 |
38.16 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
129.50 |
27.18 |
337.34 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.52 |
0.70 |
3.10 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.53 |
0.64 |
1.27 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.44 |
0.57 |
0.56 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.42 |
0.89 |
0.20 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.57 |
0.66 |
1.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.16 |
0.21 |
0.46 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.20 |
5.22 |
18.49 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.30 |
2.27 |
7.19 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.09 |
1.54 |
12.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.16 |
3.63 |
29.48 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets /
Current Liabilities) |
0.82 |
1.17 |
0.86 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.53 |
0.89 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.56 |
0.42 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.39 |
11.29 |
2.47 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.82 |
1.17 |
0.86 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
124.573 |
124.573 |
124.573 |
|
Reserves & Surplus |
1380.000 |
1452.486 |
1454.946 |
|
Net worth |
1504.573 |
1577.059 |
1579.519 |
|
|
|
|
|
|
long-term borrowings |
5.750 |
1073.585 |
350.085 |
|
Short term borrowings |
301.756 |
325.647 |
313.108 |
|
Total borrowings |
307.506 |
1406.360 |
671.089 |
|
Debt/Equity ratio |
0.204 |
0.892 |
0.425 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
6170.460 |
2521.423 |
807.899 |
|
|
|
(59.137) |
(67.959) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
6170.460 |
2521.423 |
807.899 |
|
Profit/(Loss) |
443.560 |
57.267 |
2.460 |
|
|
7.19% |
2.27% |
0.30% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
124.573 |
124.573 |
|
(b) Reserves &
Surplus |
1461.386 |
1456.457 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Minority interest |
2.507 |
2.671 |
|
(3) Share Application
money pending allotment |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
1588.466 |
1583.701 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
530.098 |
323.806 |
|
(b) Deferred tax
liabilities (Net) |
10.260 |
16.347 |
|
(c) Other long term
liabilities |
4.887 |
926.879 |
|
(d) long-term provisions |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
545.245 |
1267.032 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
313.108 |
325.647 |
|
(b) Trade payables |
120.410 |
47.722 |
|
(c) Other current
liabilities |
425.416 |
632.151 |
|
(d) Short-term provisions |
44.337 |
51.301 |
|
Total Current Liabilities
(4) |
903.271 |
1056.821 |
|
|
|
|
|
TOTAL |
3036.982 |
3907.554 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
147.761 |
167.537 |
|
(ii) Intangible Assets |
99.106 |
145.449 |
|
(iii) Capital
work-in-progress |
12.985 |
17.619 |
|
(iv) Intangible assets
under development |
0.043 |
0.043 |
|
(b) Non-current
Investments |
255.410 |
252.067 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1456.933 |
1496.220 |
|
(e) Other Non-current
assets |
8.363 |
7.994 |
|
Total Non-Current Assets |
1980.601 |
2086.929 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
1.050 |
|
(b) Inventories |
265.088 |
298.899 |
|
(c) Trade receivables |
87.415 |
33.554 |
|
(d) Cash and cash
equivalents |
46.345 |
61.709 |
|
(e) Short-term loans and
advances |
645.843 |
1413.894 |
|
(f) Other current assets |
11.690 |
11.519 |
|
Total Current Assets |
1056.381 |
1820.625 |
|
|
|
|
|
TOTAL |
3036.982 |
3907.554 |
PROFIT
AND LOSS (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
Income |
807.899 |
2521.423 |
|
|
Other Income |
128.081 |
244.077 |
|
|
TOTAL |
935.980 |
2765.500 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
267.846 |
240.086 |
|
|
Purchases of Stock-in-Trade |
71.524 |
400.324 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
33.811 |
(15.856) |
|
|
Employees benefits
expense |
57.392 |
64.430 |
|
|
Prior period items |
(0.369) |
(2.234) |
|
|
Exceptional items |
0.021 |
(2.393) |
|
|
CSR Expenditure |
7.321 |
2.853 |
|
|
Other expenses |
365.219 |
1871.802 |
|
|
TOTAL |
802.765 |
2559.012 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
133.215 |
206.488 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
55.594 |
33.843 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
77.621 |
172.645 |
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
68.452 |
67.164 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
9.169 |
105.481 |
|
|
|
|
|
|
Less |
TAX |
4.376 |
45.830 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4.793 |
59.651 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.38 |
0.48 |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
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 |
No |
|
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 |
BUSINESS ACTIVITY AND
FUTURE OUTLOOK:
The operations during the financial year were not very encouraging as the prices of iron ore in the world and domestic market remained unstable due to various factors. Hence, your company could not achieve the turnover even nearest to the last year. The management is hopeful to see improvement in market conditions and restore the business growth in coming years.
The government has removed export duty on the export of Iron ore completely which was reduced from 30% to 10% in the last year, but an obligation is imposed to pay an amount equivalent to 30% on royalty payable on the mined cargo towards District Mineral foundation fund which has subsided the positive impact of removal of export duty on the cost of production/mining. There is no significant change in Ocean freight, which is the major cost in mining business. The Company exports its entire iron ore produced mainly to Hong Kong. However the steel and iron ore prices are still at its low, the market is gaining slowly and gradually.
UNSECURED LOANS:
|
Particulars |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Deposits |
249.652 |
110.029 |
|
Loans and advances from related parties |
5.150 |
5.000 |
|
Other loans and advances |
4.888 |
926.879 |
|
Total |
259.690 |
1041.908 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G49663644 |
100113659 |
SINDHUDURG JILHA MADHYAVARTI CO OPERATIVE BANK LIMITED |
19/07/2017 |
- |
- |
120000000.0 |
HEAD OFFICESINDHUDURG NAGARISINDHUDURGMH416812IN |
|
2 |
C75675595 |
10612567 |
RELIGARE FINVEST LIMITED |
06/01/2016 |
- |
- |
151500000.0 |
D3, P3B,DISTRICT CENTRE, SAKETNEW DELHIDL110017IN |
|
3 |
C73089450 |
10607554 |
ICICI BANK LIMITED |
29/10/2015 |
- |
- |
66000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
4 |
C40283657 |
10542681 |
ICICI BANK LIMITED |
01/11/2014 |
- |
- |
14100000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
5 |
C37215902 |
10537068 |
ICICI BANK LIMITED |
23/09/2014 |
- |
- |
26000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
6 |
A41104209 |
10019969 |
STATE BANK OF INDIA |
03/08/2006 |
20/06/2008 |
- |
975000000.0 |
INDUSTRIAL FINANCE BRANCH,SHIVSAGAR ESTATE, WORLI,MUMBAIMH400018IN |
|
7 |
A62857404 |
90159150 |
THE UNITED WESTERN BANK LTD. |
15/02/2003 |
- |
08/05/2009 |
5000000.0 |
PRABHADEVI BRANCHMUMBAIMH400028IN |
|
8 |
A15168883 |
90159163 |
THE FEDERAL BANK LTD. |
10/05/2003 |
13/01/2005 |
15/05/2007 |
80000000.0 |
32; MUMBAI SAMACHAR MARGFORTMUMBAIMHIN |
|
9 |
Y10258816 |
90159046 |
THE UNITED WESTERN BANK LTD. |
16/04/2001 |
15/02/2003 |
11/11/2003 |
4000000.0 |
PRABHADEVI BRANCHMUMBAIMH400028IN |
FIXED ASSETS:
- Buildings
- Office
building
- Plant and
equipment
- Other plant
and equipment
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
- Computer
equipments
- Other
equipments
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 63.61 |
|
|
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
PUJ |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
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.