|
|
|
MIRA INFORM REPORT
|
Report No. : |
489499 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUUMAYA LIFESTYLE LIMITED (w.e.f. 17.07.2017) |
|
|
|
|
Formerly Known
As : |
RICHWAY
INTERNATIONAL TRADE LIMITED (w.e.f. 11.03.2014) RICHWAY
INFRASTRUCTURE LIMITED |
|
|
|
|
Registered
Office : |
Gala No.5F/D, Malad Industrial Units, Co-Operative Society Limited Kachpada, Ramchandra Lane Extension, Malad (West), Mumbai – 400064, Maharashtra |
|
Tel. No.: |
91-22-49712090 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
11.08.2011 |
|
|
|
|
Com. Reg. No.: |
11-220879 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 221.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102MH2011PLC220879 |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCR4357R |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
|
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 2011 and was originally known as
“Richway Infrastructure Limited” and later in the year 2014 the name was
changed to “Richway International Trade Limited”, again in the year 2017, the
name of the company was changed to its current name. The subject is engaged into manufacturer of textile products and
fabrics. Management has failed to file its financials for the year 2017 with
Registrar of Companies. As per available financials for the year 2016, the company has achieved
decent growth in its revenue as compared to its previous year but has
reported very thin profit margin during the year. The general financial position of the company is reflected by its low
networth base and weak cash accruals. Further, rating gets constrained on account of non-availability of
latest financials and intense competition from local ad other large
international players in the retails garments and fabrics industry. However, these rating gets partially offset by its established track
record of its business operation and strong capital base. Payments are seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Ishita Mahesh Gala |
|
Designation : |
Managing Director |
|
Contact No.: |
91-22-49712090 |
|
Date : |
2.02.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Gala No.5F/D, Malad Industrial Units, Co-Operative Society Limited Kachpada, Ramchandra Lane Extension, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-49712090/ 65555288 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ishita Mahesh Gala |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
B/15/16, Chandrakiran C.H.S.L S V Road, Malad (West), Opposite N L High School, Mumbai – 400064, Maharashtra, India |
||||||||||||||||
|
Date of Appointment : |
07.02.2017 |
||||||||||||||||
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DIN No.: |
07165038 |
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Other Directorship:
|
|||||||||||||||||
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|
||||||||||||||||
|
Name : |
Mr. Paras Hansrajbhai Desai |
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Designation : |
Director |
||||||||||||||||
|
Address : |
B-3, Mahavir Darshan Manchubhai Road, Malad (East), Mumbai – 400097, Maharashtra, India |
||||||||||||||||
|
Date of Appointment : |
28.06.2017 |
||||||||||||||||
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DIN No.: |
07302022 |
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Other Directorship:
|
|||||||||||||||||
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|
||||||||||||||||
|
Name : |
Ms. Sneha Dutta |
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Designation : |
Director |
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|
Address : |
Flat No.304, C Wing, Octacrest Akruli Road, Lokhandwala Circle, Lokhandwala Township, Kandivali, Mumbai – 400101, Maharashtra, India |
||||||||||||||||
|
Date of Appointment : |
20.06.2017 |
||||||||||||||||
|
DIN No.: |
07597476 |
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|
||||||||||||||||
|
Name : |
Mr. Satish Jayantilal Khimawat |
||||||||||||||||
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Designation : |
Director |
||||||||||||||||
|
Address : |
Gundecha Gardens Building, Flat No.801, G-Wing, Gas Mill Compound, Near Lalbaugcha Raja, Lalbaug, Mumbai – 400012, Maharashtra, India |
||||||||||||||||
|
Date of Appointment : |
23.09.2017 |
||||||||||||||||
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DIN No.: |
07769130 |
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Other Directorship:
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Ushik Mahesh Gala |
|
Designation : |
Chief Executive Officer |
|
Address : |
B-16, Chandrakiran C.H.S.L S V Road, Malad (West), Opposite N L College, Mumbai – 400064, Maharashtra, India |
|
Date of Appointment : |
30.08.2017 |
|
PAN No.: |
BBNPG4050P |
|
|
|
|
Name : |
Ms. Karishma Ruturaj
Kaku |
|
Designation : |
CFO |
|
Address : |
E-4, Shiv Chhaya CHS Limited, Eksar Road, Borivali (West), Mumbai – 400092, Maharashtra, India |
|
Date of Appointment : |
20.06.2017 |
|
PAN No.: |
BRQPK8354K |
|
|
|
|
Name : |
Mr. Shubham Gandhi |
|
Designation : |
Company Secretary |
|
Address : |
99, Tilak Nagar Extension, Near Jain Shwetamber Temple, Street No. 10, Indore – 452018, Madhya Pradesh, India |
|
Date of Appointment : |
01.08.2015 |
|
PAN No.: |
ALIPG1074H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
0.40 |
|
Promoters (Body corporate) |
26.22 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
53.78 |
|
Public/Other than promoters (Venture capital) |
0.54 |
|
Public/Other than promoters (Body corporate) |
18.88 |
|
Public/Other than promoters (Others-Others) |
0.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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||||
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Imports : |
Not Available |
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||||
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Terms : |
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||||
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Selling : |
Cash, Advance Payment, L/C, Cheque and Credit (30 Days) |
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|
||||
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Purchasing : |
Cash, Advance Payment, L/C, Cheque and Credit (30 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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||||||||||||||||||||||
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Customers : |
Retailers and End Users
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No. of Employees : |
35 (Approximately) |
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Bankers : |
|
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Auditors : |
|
|
Name : |
Sanjay N Shah and Company Chartered Accountants |
|
Address : |
108, 1st Floor, Sujata Niketan CHS Limited, Rani Sati Road, Near Railway, Station Malad (East), Mumbai – 400097, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AVUPS1786L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
After 30.09.2016
Authorised Capital : INR 250.000 Million
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22120000 |
Equity Shares |
INR 10/- each |
INR 221.200
Million |
|
|
|
|
|
As on 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22600000 |
Equity Shares |
INR 10/- each |
INR 226.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22120000 |
Equity Shares |
INR 10/- each |
INR 221.200
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
221.200 |
221.200 |
220.000 |
|
(b) Reserves and Surplus |
7.997 |
4.911 |
(0.326) |
|
(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) |
229.197 |
226.111 |
219.674 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.008 |
0.021 |
0.008 |
|
(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) |
0.008 |
0.021 |
0.008 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
36.345 |
83.531 |
0.025 |
|
(d) Short-term
provisions |
2.448 |
1.037 |
0.513 |
|
Total Current
Liabilities (4) |
38.793 |
84.568 |
0.538 |
|
|
|
|
|
|
TOTAL |
267.998 |
310.700 |
220.220 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
0.171 |
0.312 |
0.296 |
|
(ii) Intangible
Assets |
0.004 |
0.005 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.057 |
0.086 |
0.114 |
|
Total Non-Current
Assets |
0.232 |
0.403 |
0.410 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
60.839 |
127.229 |
47.224 |
|
(c) Trade
receivables |
155.804 |
101.460 |
85.986 |
|
(d) Cash and
bank balances |
1.013 |
31.498 |
31.290 |
|
(e)
Short-term loans and advances |
50.110 |
50.110 |
55.310 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
267.766 |
310.297 |
219.810 |
|
|
|
|
|
|
TOTAL |
267.998 |
310.700 |
220.220 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
905.311 |
371.502 |
154.705 |
|
|
Other Income |
0.000 |
0.076 |
0.002 |
|
|
TOTAL |
905.311 |
371.578 |
154.707 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
831.537 |
446.346 |
199.441 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
66.390 |
(80.005) |
(47.224) |
|
|
Employee benefit expense |
0.487 |
0.346 |
0.180 |
|
|
Other expenses |
2.235 |
3.210 |
0.588 |
|
|
TOTAL |
900.649 |
369.897 |
152.985 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4.662 |
1.681 |
1.722 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.007 |
0.010 |
0.002 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.655 |
1.671 |
1.720 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.171 |
0.127 |
0.034 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4.484 |
1.544 |
1.686 |
|
|
|
|
|
|
|
Less |
TAX |
1.398 |
1.050 |
0.521 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3.086 |
0.494 |
1.165 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
0.111 |
(0.326) |
0.003 |
|
|
|
|
|
|
|
Less |
Other deductions to reserves |
0.000 |
0.057 |
1.494 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
3.197 |
0.111 |
(0.326) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.14 |
0.02 |
0.05 |
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 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(30.485) |
(5.102) |
(186.951) |
|
Net cash flow from operating activity |
(30.485) |
(5.615) |
(186.952) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
62.82 |
99.68 |
202.87 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
5.81 |
3.66 |
1.80 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.08 |
0.01 |
0.04 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
26.64 |
5.30 |
5.82 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.14 |
0.27 |
0.00 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.17 |
0.37 |
0.00 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
666.00 |
168.10 |
861.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
0.34 |
0.13 |
0.75 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.15 |
0.16 |
0.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.35 |
0.22 |
0.53 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
6.90 |
3.67 |
408.57 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
5.33 |
2.16 |
320.79 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.86 |
0.73 |
1.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
6.90 |
3.67 |
408.57 |
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 |
220.000 |
221.200 |
221.200 |
|
Reserves & Surplus |
(0.326) |
4.911 |
7.997 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
219.674 |
226.111 |
229.197 |
|
|
|
|
|
|
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
154.705 |
371.502 |
905.311 |
|
|
|
140.136 |
143.689 |
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 |
154.705 |
371.502 |
905.311 |
|
Profit/ (Loss) |
1.165 |
0.494 |
3.086 |
|
|
0.75% |
0.13% |
0.34% |
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 |
No |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
CORPORATE INFORMATION
(As on 31.03.2016)
The Company is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956.
RESULT OF OPERATIONS
(As on 31.03.2016)
During the current period of operation, the Company has shown remarkable improvement as the turnover has increased in F.Y 2015-16 to INR 905.311 Million from INR 371.502 Million during the corresponding FY 2014-15.
The Directors report that the working of the Company for the year has resulted in a Profit of INR 3.086 Million (after tax).
INDEX
OF CHARGES
No Charges Exists for Company
FIXED ASSETS
- Furniture and fixtures
- Plant and equipment
- Other plant and equipment
- Computer 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 64.07 |
|
|
1 |
INR 91.33 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
NRG |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--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.