|
|
|
MIRA INFORM REPORT
|
Report No. : |
489908 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
MITSUBISHI ELEVATOR INDIA PRIVATE LIMITED (w.e.f. 27.04.2015) |
|
|
|
|
Formerly Known
As : |
MITSUBISHI ELEVATOR ETA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No 59-63 & 65-71, Vemagal Industrial Area, Shingehalli
Village, Vemagal Hobli , Kolar - 563102, Karnataka |
|
Tel. No.: |
91-44-28477373 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
24.08.2012 |
|
|
|
|
Com. Reg. No.: |
08-087354 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 67.032
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29300KA2012PTC107614 |
|
|
|
|
IEC No.: |
0412029626 |
|
|
|
|
TIN No.: |
33940803656 |
|
|
|
|
GST No.: |
33AAICM1338G1ZQ |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICM1338G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Walks and Supplying of Elevators, Escalotors and Moving
Providing Maintenance and Repair Services of Elevators and Escalators
Services. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2012, “Mitsubishi electric Corporation,
Japan” holds 45% stakes in the subject company. For the financial year 2017, the company has dip in its revenue by
1.06% as compared to the previous year along with operational loss. The sound financial risk profile of the company is marked by adequate
net worth base along with strong debt coverage indicators debt to debt free
balance sheet profile of the company of the company and sufficient cash
balance to meet its working capital needs. Rating further takes into account strong financial support from its
parent in the form of equity and debt, established market position along with
experienced management. Payments seems to be regular. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 05.02.2018.
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 DECLINED BY
|
Name : |
Mr. Ravi Shankar |
|
Designation : |
Deputy Manager |
|
Contact No.: |
91-44-28477323 |
|
Date : |
02.02.2018 |
LOCATIONS
|
Registered/ Corporate Office/ Factory : |
Plot No 59-63 & 65-71,Vemagal Industrial Area, Shingehalli Village
,Vemagal Hobli , Kolar - 563102, Karnataka |
|
Tel. No.: |
91-44-28477373 |
|
Fax No.: |
91-44-28477374 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
Prestige Khoday Towers, 7th Floor, No.5, Raj Bhavan
Road, Bangalore -560001, Karnataka, India |
|
Tel. No.: |
91-80-46239500-502 |
|
Fax No.: |
91-80-46239503 |
|
|
|
|
Regional Offices : |
· 781, Anandapur Akash Towers, Unit 3 A, 6th Floor, Room No.6 C, Kolkata – 700107, West Bengal, India Tel. No.:91-33-40146100 Fax No.:91-33-40146101 · Bannari Amman Tower,4th Floor, Block ‘B’, 29, DR. R.K. Salai Mylapore, Chennai – 600 004, Tamilnadu, India Tel. No.:91 44 2847 7323 Fax No.:91 44 2847 7324 · 201, 2nd Floor, 121, Dickenson Road, Bangalore - 560042, Karnataka, India Tel. No.:91-80-25592540 Fax No.:91-80-25592548 · 5-4-94 To 97 M.G. Road, Ranigunj, Secunderabad - 500 003 Tel. No.:91-40-27546738 Fax No.:91-40-27546739 · 502, Natraj, 5th Floor, Andheri Kurla Road, Andheri (East), Mumbai 400 069, Maharashtra, India Tel. No.:91-22-61177222 Fax No.:91-22-61177234 · 201, Ground Floor, Okhla Industrial Area, Phase-III New Delhi 110 020, India Tel. No.:91-11-26933921-24 Fax No.:91-11-26933970 |
|
|
|
|
Area Offices : |
Located at: · Chandigarh · Jaipur · Ahmedabad · Pune · Coimbatore · Cochin |
|
|
|
|
Service Centers : |
Located at: · Bhubaneshwar · Trivandrum · Goa |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Ko Tanaka |
||||||||||||
|
Designation : |
Managing Director |
||||||||||||
|
Address : |
23-8-703, Senju Motomachi, Adachi-Ku, Tokyo 50072 Japan |
||||||||||||
|
Date of Appointment : |
01.04.2017 |
||||||||||||
|
DIN No.: |
07762627 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Kaori Takahashi |
||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||
|
Address : |
4-2, 5 Chome, Nakakokubun, Chiba, 2720835, Japan |
||||||||||||
|
Date of Birth/Age : |
28.10.1967 |
||||||||||||
|
Date of Appointment : |
25.03.2015 |
||||||||||||
|
DIN No.: |
06886056 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Iwao Oda |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
4-15-12-106, Sakai, Musashino City Tokyo, Japan |
||||||||||||
|
Date of Appointment : |
01.04.2016 |
||||||||||||
|
DIN No.: |
07470977 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Nobuhiro Ito |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
307, Sereas Utsukushigaoka Primal, 2-12-10 Utsukushigaoka, Aoba-Ku,
Yokohama-Shi Kanagawa 2210045 |
||||||||||||
|
Date of Appointment : |
06.09.2016 |
||||||||||||
|
DIN No.: |
07603811 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Pravin Rao |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
SSD Pearls, Flat No-T-6, 3rd Floor Udayanagar 2nd Cross, Uttarahalli,
Main Road, Bengalore-560060, Karnataka, India |
||||||||||||
|
Date of Appointment : |
13.12.2016 |
||||||||||||
|
DIN No.: |
07673496 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Katsunori Ushiku |
||||||||||||
|
Designation : |
Additional Director |
||||||||||||
|
Address : |
Flat No.142 Tower E, 14th Floor, Park Heights, Sector 54,
Gurugram-122002, Haryana, India |
||||||||||||
|
Date of Appointment : |
01.04.2017 |
||||||||||||
|
DIN No.: |
07477115 |
||||||||||||
|
Other
Directorship :
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Eisuke Shiozaki |
||||||||||||
|
Designation : |
Additional Director |
||||||||||||
|
Address : |
13, Panchsheel Marg Chanakya Puri, Delhi-110021, India |
||||||||||||
|
Date of Appointment : |
28.04.2017 |
||||||||||||
|
DIN No.: |
07797863 |
||||||||||||
|
Other
Directorship :
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Takuya Yoshino |
||||||||||||
|
Designation : |
Additional Director |
||||||||||||
|
Address : |
4-11-16 Zenpukuji, Suginami-Ku, Tokyo 10885, Japan |
||||||||||||
|
Date of Appointment : |
28.04.2017 |
||||||||||||
|
DIN No.: |
07798588 |
||||||||||||
KEY EXECUTIVES
|
Name : |
Kaori Takahashi |
|
Designation : |
Chief Financial Officer |
|
Address : |
4-2, 5 Chome, Nakakokubun, Ichikawa - 2720835, Japan |
|
Date of Appointment : |
03.02.2015 |
|
PAN No.: |
AVQPT0740F |
|
|
|
|
Name : |
Mr. Ravi Shankar |
|
Designation : |
Deputy Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Mitsubishi Electric Corporation, Japan |
6156 |
45.00 |
|
Mitsubishi Corporation, Japan |
6156 |
45.00 |
|
Mitsubishi Electric Building Techno Service Co. Limited, Japan |
684 |
5.00 |
|
Mitsubishi Electric India Private Limited, India |
684 |
5.00 |
|
|
|
|
|
Total |
13680 |
100.00 |
AS ON: 14.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Bodies corporate) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Walks and Supplying of Elevators, Escalotors and Moving
Providing Maintenance and Repair Services of Elevators and Escalators
Services. [Registered Activity] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
No 10, Mahatma Gandhi Road, Nungambakkam, Chennai
– 600034, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFB7355D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Mitsubishi Electric Corporation, Japan |
|
|
|
|
Associate company: |
·
MC Lift and Solutions Co. Limited.,
Thailand ·
Mitsubishi Electric Buildings
Techno-Service Company Limited, Japan ·
Mitsubishi Corporation, Japan ·
Meltec Parts and Engineering Co Limited,
Thailand ·
Mitsubishi Electric and Electronics Shanghai
Company Limited, China ·
Mitsubishi Electric Trading Corporation,
Japan ·
Mitsubishi Electric Korea Co. Limited,
Korea ·
Mitsubishi Elevator (Singapore) Pte
Limited, Singapore ·
Mitsubishi Elevator Asia Co. Limited,
Thailand ·
Mitsubishi Elevator Korea Co., Limited,
Korea ·
Mitsubishi Electric Europe B.V., United
Kingdom ·
Mitsubishi Electric Asia Pte Ltd, Singapore ·
Mitsubishi Elevator Malaysia SDN. BHD,
Malaysia ·
Mitsubishi Electric India Private Limited
[U51909DL2010FTC227827] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000 |
Equity Shares |
INR 4900/- each |
INR 612.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13680 |
Equity Shares |
INR 4900/- each |
INR 67.032
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 |
67.032 |
67.032 |
55.174 |
|
(b) Reserves and Surplus |
2293.709 |
2372.711 |
846.433 |
|
(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) |
2360.741 |
2439.743 |
901.607 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
111.829 |
88.202 |
80.590 |
|
Total Non-current
Liabilities (3) |
111.829 |
88.202 |
80.590 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
638.676 |
660.647 |
586.423 |
|
(c) Other
current liabilities |
992.618 |
932.654 |
544.327 |
|
(d) Short-term
provisions |
271.216 |
133.615 |
100.080 |
|
Total Current
Liabilities (4) |
1902.510 |
1726.916 |
1230.830 |
|
|
|
|
|
|
TOTAL |
4375.080 |
4254.861 |
2213.027 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1658.201 |
351.003 |
355.398 |
|
(ii)
Intangible Assets |
32.181 |
28.188 |
37.319 |
|
(iii) Tangible assets
capital work-in-progress |
6.131 |
807.503 |
24.780 |
|
(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 |
111.778 |
84.339 |
|
(d)
Long-term loans and advances |
154.887 |
81.631 |
156.288 |
|
(e) Other
Non-current assets |
0.000 |
0.387 |
0.355 |
|
Total Non-Current
Assets |
1851.400 |
1380.490 |
658.479 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
595.503 |
231.475 |
215.804 |
|
(c) Trade
receivables |
476.964 |
518.141 |
483.577 |
|
(d) Cash and
bank balances |
947.776 |
1771.615 |
608.805 |
|
(e)
Short-term loans and advances |
193.162 |
86.743 |
26.669 |
|
(f) Other
current assets |
310.275 |
266.397 |
219.693 |
|
Total
Current Assets |
2523.680 |
2874.371 |
1554.548 |
|
|
|
|
|
|
TOTAL |
4375.080 |
4254.861 |
2213.027 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3490.448 |
3527.886 |
3396.151 |
|
|
Other Income |
87.582 |
67.407 |
63.303 |
|
|
TOTAL |
3578.030 |
3595.293 |
3459.454 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1815.271 |
2072.763 |
1961.631 |
|
|
Employee benefit expense |
622.207 |
512.353 |
514.163 |
|
|
CSR expenditure |
7.683 |
3.082 |
0.000 |
|
|
Other expenses |
1026.716 |
593.927 |
586.058 |
|
|
TOTAL |
3471.877 |
3182.125 |
3061.852 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
106.153 |
413.168 |
397.602 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.076 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
105.077 |
413.168 |
397.602 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
72.301 |
38.766 |
37.094 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
32.776 |
374.402 |
360.508 |
|
|
|
|
|
|
|
Less |
TAX |
111.778 |
130.966 |
122.231 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(79.002) |
243.436 |
238.277 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(5775.00) |
17725.75 |
21161.38 |
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 |
(179.556) |
656.764 |
543.506 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(343.021) |
413.945 |
335.380 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
49.88 |
53.61 |
51.97 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.32 |
6.81 |
7.02 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
128.42 |
116.34 |
109.12 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.18 |
1.78 |
1.84 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.06 |
0.35 |
0.95 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.43 |
0.41 |
0.56 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.81 |
0.71 |
1.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.72 |
0.49 |
0.46 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
98.66 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(2.26) |
6.90 |
7.02 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.81) |
5.72 |
10.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(3.35) |
9.98 |
26.43 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.33 |
1.66 |
1.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.01 |
1.53 |
1.09 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.54 |
0.57 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.33 |
1.66 |
1.26 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
55.174 |
67.032 |
67.032 |
|
Reserves & Surplus |
846.433 |
2372.711 |
2293.709 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
901.607 |
2439.743 |
2360.741 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
3396.151 |
3527.886 |
3490.448 |
|
|
|
3.879 |
(1.061) |
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 |
3396.151 |
3527.886 |
3490.448 |
|
Profit/ (Loss) |
238.277 |
243.436 |
(79.002) |
|
|
7.02
% |
6.90
% |
(2.26
%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G01039692 |
100018025 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
23/03/2016 |
- |
- |
45000000.0 |
NO.30RAJAJI SALAICHENNAITN600001IN |
REVIEW OF OPERATIONS
During the year, the Company has earned revenue of INR 2,289.61Million from supply and installation of elevators and revenue of INR 1,157.19Million from maintenance, reconstruction and repairs of elevators as against the previous year revenue of INR 2,438.97 Million and INR 1,059.64 Million respectively. There is a decrease of 6.12% over the previous year revenues from supply & installation and an increase of 9.20% over the previous year revenues maintenance, reconstruction& repairs respectively.
The Company has achieved total revenue of INR 3,578.03 Million, a decrease of 0.48% over the previous year. Operating profit before depreciation and tax was amounting to INR 105.080 Million. Profit before tax was amounting to INR 32.78 Million, a decrease of 90.28% over the previous year. The net loss for the year ending 31st March 2017 amounting to INR (79.000) Million is due to discharge of deferred tax assets of INR 111.780 Million in the year in which tax loss is achieved as per Income Tax Act, 1961 computation and in accordance with Indian Accounting Standard 22. In 2016-17 we achieved Loss as per tax book which is due to additional investment allowances (additional depreciation expense as deductible expense) for newly constructed factory. This is because of accounting and tax incentive treatment; not because of business operational issues. We expect refund of tax due to this incentive in FY2020-21.
The Directors are continuously looking for avenues for future growth of the Company.
FIXED ASSETS:
· Plant and equipment
· Furniture and fixtures
· Motor vehicles
· Office equipment
· Computer equipment’s
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 64.08 |
|
UK Pound |
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
ARC |
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.