|
|
|
MIRA INFORM REPORT
|
Report No. : |
489514 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PLATINUM TEXTILES LIMITED (w.e.f. 31.12.2009) |
|
|
|
|
Formerly Known
As : |
NEHA FURNISHINGS LIMITED (w.e.f. 19.10.2009) NEHA FURNISHINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
97 and 99, Maker Tower 'F', Cuffe Parade, Mumbai – 400005, Maharashtra |
|
Tel. No.: |
91-22-40290011 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
11.08.1993 |
|
|
|
|
Com. Reg. No.: |
11-073419 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 59.909 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH1993PLC073419 |
|
|
|
|
IEC No.: |
0312012527 |
|
|
|
|
GSTIN: |
27AABCN1537H1ZM |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN13445F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN1537H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged for Trading and
Manufacturing of Textile Yarn and Fabrics etc. (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1993. It is engaged in the
business of manufacturing of cotton, polyester and cotton blended yarn. For the financial year 2016, the company has achieved revenue growth
of 26.48% as compared to the previous year but has reported a low profit
margin of 0.63%. The sound financial risk profile of the company is marked by adequate
net worth base along with comfortable debt balance sheet profile. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. Note: As per Registrar of Companies date of balance sheet (i.e. financial
filed) is shown as 31.03.2017 but documents related to financial for the year
31.03.2017 are not available from any sources. |
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 |
CARE |
|
Rating |
Long term Borrowing (BBB) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
28.03.2017 |
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 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 DENIED BY
|
Name : |
Ms. Laxmi |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-40290013 |
|
Date : |
02.02.2018 |
|
Name : |
Mr. Sam |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-40290013 |
|
Date : |
02.02.2018 |
91-9930350033 (Number is continuously ringing)
LOCATIONS
|
Registered Office : |
97 and 99, Maker Tower 'F', Cuffe Parade, Mumbai – 400005,
Maharashtra, India |
|
Tel. No. : |
91-22-40290011/ 40290013 |
|
Fax No. : |
91-22-40290033 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 Sq. ft. |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Warehouse : |
302, Chawre Complex, Station Road, Nalasopara, Taluka
Vasai, District Palghar - 401302, Maharashtra, India |
|
|
|
|
Factory 1 : |
Survey No.965/1, 966/A2 and 966/A3, Thalaiyuthu (Village
and Post), Palani, Dindigul - 624618, Tamilnadu, India |
|
|
|
|
Factory 2 : |
35/2,36/1, 1/2 and 3, 6/5, Devakottai Ramnad, N.H. Road,
Ramanathapuram – 623528, Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Chirag Vinod Kumar Pittie |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
97 and 99, Maker Tower 'F', Cuffe Parade, Mumbai – 400005,
Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.05.1982 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2011 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00117368 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Praveen Sammul Shelly |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
37, Central School Scheme, Jodhpur - 342002, Rajasthan, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.12.1947 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2012 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
01922237 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Palak Kanaiyalal Bhavsar |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat-1001, Floor-10, Wing-B, Riviera CHS, Thane (West), Siddeshwar
Garden, Village Dhokali, Kolshet Road, Thane-400607, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.08.1992 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.08.2016 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
07425056 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Bhumika Ramesh Ruparelia |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
901, Pushp Vinod 3, 9th Floor, S. V. Road, Borivali (West), Mumbai-400092, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.09.1990 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
05.04.2017 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
07785779 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Shravan A. Gupta and Associates |
|
Designation : |
Practicing Company Secretary |
|
Address : |
4, Ram Sumer Gupta House, Goras Wadi, S.V. Road, Malad (West), Mumbai
– 400064, Maharashtra, India |
|
Email: |
|
|
Mob. No: |
91-9594541306/ 9833442351 |
|
PAN No: |
AOZPG2398N |
|
|
|
|
Name : |
Mr. Sam |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Red Maple Mercantile Limited, India |
|
10 |
|
SVP Global Ventures Limited, India |
|
10 |
|
Scenario Communication Limited, India |
|
10 |
|
Chirag V. Pittie |
|
10 |
|
Shrivallabh Pittie |
|
10 |
|
Shrivallabh Pittie Mercantile Limited, India |
|
10 |
|
Citron Infraprojects Limited, India |
|
7805447 |
|
Total |
|
7805507 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged for Trading and
Manufacturing of Textile Yarn and Fabrics etc. (Registered Activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institutions: |
IFCI Limited, IFCI Tower, 61, Nehru Place, New
Delhi-110019, India |
|
|
|
|
Auditors : |
|
|
Name : |
Shah Parmar and Mehta Chartered Accountants |
|
Address : |
108, 1st Floor, Sujata Niketan, Next Rani to Railway Station, Sati Road Malad (East), Mumbai – 400097, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AVUPS1786L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Citron Infraprojects Limited (U45201MH2008PLC177616) |
|
|
|
|
Associate: |
Shrivallabh Pittie Industries Limited (U26960MH2012PLC235201) |
|
|
|
|
Associate Company
(As on 31.03.2016) |
|
CAPITAL STRUCTURE
As on: 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
INR 10/- each |
INR 80.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7805507 |
Equity Shares |
INR 10/- each |
INR 78.055 Million |
|
|
|
|
|
As
on: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
INR 10/- each |
INR 60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5990892 |
Equity Shares |
INR 10/- each |
INR 59.909 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
59.909 |
59.909 |
53.370 |
|
(b) Reserves and Surplus |
1406.389 |
1324.419 |
1090.745 |
|
(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) |
1466.298 |
1384.328 |
1144.115 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1092.378 |
849.630 |
371.589 |
|
(b) Deferred tax liabilities (Net) |
33.971 |
33.971 |
25.452 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1126.349 |
883.601 |
397.041 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2183.195 |
1176.015 |
1013.689 |
|
(b) Trade
payables |
428.925 |
329.195 |
230.184 |
|
(c) Other
current liabilities |
96.425 |
130.440 |
95.881 |
|
(d) Short-term
provisions |
17.637 |
20.754 |
21.738 |
|
Total Current
Liabilities (4) |
2726.182 |
1656.404 |
1361.492 |
|
|
|
|
|
|
TOTAL |
5318.829 |
3924.333 |
2902.648 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
567.746 |
584.959 |
405.802 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
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 |
500.450 |
0.069 |
7.038 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
44.017 |
25.822 |
25.500 |
|
(e) Other
Non-current assets |
0.000 |
0.088 |
0.132 |
|
Total Non-Current
Assets |
1112.213 |
610.938 |
438.472 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
302.826 |
419.500 |
322.815 |
|
(c) Trade
receivables |
3459.363 |
2604.959 |
1569.855 |
|
(d) Cash and
bank balances |
37.631 |
47.313 |
36.524 |
|
(e)
Short-term loans and advances |
402.378 |
232.936 |
530.157 |
|
(f) Other
current assets |
4.418 |
8.687 |
4.825 |
|
Total Current
Assets |
4206.616 |
3313.395 |
2464.176 |
|
|
|
|
|
|
TOTAL |
5318.829 |
3924.333 |
2902.648 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
12815.891 |
10133.016 |
7985.326 |
|
|
Other Income |
19.215 |
18.667 |
7.776 |
|
|
TOTAL |
12835.106 |
10151.683 |
7993.102 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
12144.206 |
9590.677 |
7625.146 |
|
|
Employee benefit expense |
24.951 |
27.587 |
7.785 |
|
|
CSR expenditure |
1.720 |
0.000 |
0.000 |
|
|
Other expenses |
105.065 |
95.823 |
97.494 |
|
|
TOTAL |
12275.942 |
9714.087 |
7730.425 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
559.164 |
437.596 |
262.677 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
413.093 |
235.661 |
158.057 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
146.071 |
201.935 |
104.620 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
40.625 |
102.574 |
10.217 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
105.446 |
99.361 |
94.403 |
|
|
|
|
|
|
|
Less |
TAX |
25.196 |
29.149 |
30.627 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
80.250 |
70.212 |
63.776 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
13.68 |
11.72 |
24.98 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(695.414) |
(524.539) |
94.403 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(673.206) |
(524.539) |
94.403 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
98.52 |
93.83 |
71.76 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
3.70 |
3.89 |
5.09 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors / Purchases * 365] |
|
12.89 |
12.53 |
11.02 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income / Inventories] |
|
1.85 |
1.04 |
0.81 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed Assets] |
|
0.98 |
0.75 |
0.65 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.72 |
0.64 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / Net Worth) |
|
2.23 |
1.46 |
1.21 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
1.86 |
1.20 |
1.19 |
|
|
|
|
|
|
|
Fixed Assets to Net Worth (Net Fixed Assets / NetWorth) |
|
0.39 |
0.42 |
0.35 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
1.35 |
1.86 |
1.66 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.63 |
0.69 |
0.80 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
1.51 |
1.79 |
2.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
5.47 |
5.07 |
5.57 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.54 |
2.00 |
1.81 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.43 |
1.75 |
1.57 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.28 |
0.35 |
0.39 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
54.68 |
33.81 |
25.96 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.54 |
2.00 |
1.81 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
53.370 |
59.909 |
59.909 |
|
Reserves & Surplus |
1090.745 |
1324.419 |
1406.389 |
|
Net
worth |
1144.115 |
1384.328 |
1466.298 |
|
|
|
|
|
|
Long-term borrowings |
371.589 |
849.630 |
1092.378 |
|
Short term borrowings |
1013.689 |
1176.015 |
2183.195 |
|
Total
borrowings |
1385.278 |
2025.645 |
3275.573 |
|
Debt/Equity
ratio |
1.211 |
1.463 |
2.234 |
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 |
7985.326 |
10133.016 |
12815.891 |
|
|
|
26.895 |
26.477 |
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 |
7985.326 |
10133.016 |
12815.891 |
|
Profit/ (Loss) |
63.776 |
70.212 |
80.250 |
|
|
0.80
% |
0.69
% |
0.63
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
|
59.909 |
|
(b) Reserves and Surplus |
|
2378.441 |
|
(c) Money
received against share warrants |
|
0.000 |
|
(d) Minority interest |
|
13.426 |
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2438.350 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
|
1790.382 |
|
(b) Deferred tax liabilities (Net) |
|
33.971 |
|
(c) Other long-term
liabilities |
|
0.000 |
|
(d) long-term
provisions |
|
0.000 |
|
Total Non-current Liabilities
(3) |
|
1824.353 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short-term
borrowings |
|
2183.195 |
|
(b) Trade
payables |
|
428.925 |
|
(c) Other
current liabilities |
|
180.516 |
|
(d) Short-term
provisions |
|
17.637 |
|
Total Current Liabilities
(4) |
|
2810.273 |
|
|
|
|
|
TOTAL |
|
7086.402 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1)
Non-current assets |
|
|
|
(a) Fixed
Assets |
|
|
|
(i)
Tangible assets |
|
567.746 |
|
(ii)
Intangible Assets |
|
480.858 |
|
(iii) Tangible assets capital
work-in-progress |
|
595.847 |
|
(iv)
Intangible assets under development |
|
0.000 |
|
(b) Non-current Investments |
|
0.454 |
|
(c) Deferred tax assets (net) |
|
0.000 |
|
(d)
Long-term loans and advances |
|
44.017 |
|
(e) Other Non-current
assets |
|
56.047 |
|
Total Non-Current
Assets |
|
1744.969 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a)
Current investments |
|
0.000 |
|
(b)
Inventories |
|
302.826 |
|
(c) Trade
receivables |
|
3459.363 |
|
(d) Cash and
bank balances |
|
71.031 |
|
(e)
Short-term loans and advances |
|
1487.367 |
|
(f) Other
current assets |
|
20.846 |
|
Total
Current Assets |
|
5341.433 |
|
|
|
|
|
TOTAL |
|
7086.402 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
|
|
SALES |
|
|
|
|
Total
Revenue from operations |
|
12815.891 |
|
|
Other Income |
|
19.215 |
|
|
TOTAL |
|
12835.106 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
|
12144.206 |
|
|
Employee benefit expense |
|
24.951 |
|
|
Other expenses |
|
105.065 |
|
|
TOTAL |
|
12274.222 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
560.884 |
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
413.093 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
147.791 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
40.625 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
107.166 |
|
|
|
|
|
|
Less |
TAX |
|
25.193 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
81.973 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
13.683 |
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 |
Yes |
|
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 |
CORPORATE INFORMATION
The Company is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged for Trading and Manufacturing of Fabrics etc.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
979.790 |
642.575 |
|
Short-term
borrowings |
|
|
|
Other loans and advances, others |
2.323 |
1.069 |
|
Total |
982.113 |
643.644 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
ADDRESS |
|
1 |
G70971429 |
100141597 |
BANK OF MAHARASHTRA |
19/12/2017 |
- |
- |
500000000.0 |
INDUSTRIAL FINANCE BRANCHAPEEJAY HOUSE, 130, B.S. MARG, FORTMUMBAIMH400001IN |
|
2 |
G56277312 |
100127409 |
United Bank of India |
13/09/2017 |
- |
- |
400000000.0 |
CORPORATE FINANCE BRANCH, 25,P.M. ROAD, FORT, MUMBAIMUMBAIMH400001IN |
|
3 |
G39269956 |
100034479 |
United Bank of India |
06/06/2016 |
20/01/2017 |
- |
1600000000.0 |
CORPORATE FINANCE BRANCH, 25,SIR P.M. ROAD, FORTMUMBAIMH400001IN |
|
4 |
G03682713 |
10621159 |
IFCI LIMITED |
01/02/2016 |
27/04/2016 |
- |
500000000.0 |
IFCI TOWER, 61,NEHRU PLACENEW DELHIDL110019IN |
|
5 |
G06533111 |
100035851 |
Indian Overseas Bank |
18/01/2016 |
- |
- |
810000.0 |
MERCHANT CHAMBER, OPP. S.N.D.T. COLLEGENEW MARINE LINESMUMBAIMH400020IN |
|
6 |
C76801596 |
10615261 |
TAMILNAD MERCANTILE BANK LIMITED |
30/11/2015 |
- |
- |
50000000.0 |
MANDVI BRANCH, HEMPRAKASH BUILDING, GROUND FLOOR92, KAZI SYED STREET, MANDVIMUMBAIMH400003IN |
|
7 |
C80925407 |
10625387 |
Indian Overseas Bank |
10/08/2015 |
- |
- |
400000.0 |
MERCHANT CHAMBER, OPP. S.N.D.T. COLLAGENEW MARINE LINESMUMBAIMH400020IN |
|
8 |
C54025192 |
10570167 |
Central Bank of India |
29/04/2015 |
- |
- |
450000000.0 |
1ST FLOOR, MMO BUILDING, FORT,MUMBAIMUMBAIMH400023IN |
|
9 |
C47278296 |
10556084 |
Corporation Bank |
03/03/2015 |
- |
- |
112500000.0 |
BONANZA SAHAR PLAZA,ANDHERI KURLA ROADMUMBAIMH400059IN |
|
10 |
C54625421 |
10571608 |
TAMILNAD MERCANTILE BANK LIMITED |
02/03/2015 |
- |
- |
150000000.0 |
GORADIA HOUSE, 1ST FLOOR, 101 - 104,KAZI SYED STREET, MANDVIMUMBAIMH400003IN |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Office equipment
- Computer
Accessories
- Computer
Software
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 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
PYN |
|
|
|
|
Report Prepared
by : |
MTN |
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.