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|
MIRA INFORM REPORT
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Report No. : |
490304 |
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Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
RAJHANS NUTRIMENTS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Rajhans
House, 3rd Floor, Opposite Gitanjali Petrol Pump, Varachha Road,
Surat – 395006, Gujarat |
|
Tel. No.: |
91-261-2551129/ 2553307/2541456/2503041/42 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
26.08.2011 |
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Com. Reg. No.: |
04-066906 |
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Capital
Investment / Paid-up Capital : |
INR 500.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U15490GJ2011PTC066906 |
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|
IEC No.: |
5211026420 |
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GSTIN: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAFCR4322Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Cocoa, Chocolate and Sugar Confectionery. (Registered Activity) |
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No. of Employees
: |
Information declined 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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Rajhans Nutriments Private Limited (RNPL) part of Desai & Jain group of companies was incorporated in August 2011 with the objective to enter into the chocolate confectionery manufacturing industry and diversify operations of the group. For the financial year 2017, the company has achieved remarkable revenue growth as compared to its previous year but has incurred losses during the year. The loss has been accumulated and it has exceeded the capital of the company, which resulted in the erosion of the net worth during the year. Rating gets constrained on account of weak financial profile marked by negative net worth base and low liquidity position. Rating further gets constrained on account of its continuous operational losses and exposure to intense competition in confectionery industry. However, Business is active. Payments seems to be slow. In view of aforesaid, the company can be considered for business dealings at fully safe and secured terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
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 DENIED
Management non-cooperative (Tel No.: 91-261-2551129/2553007)
LOCATIONS
|
Registered Office/ Corporate Office : |
“Rajhans
House”, 3rd Floor, Opposite Gitanjali Petrol Pump, Varachha Road,
Surat – 395 006, Gujarat, India |
|
Tel. No.: |
91-261-2551129/ 2553307/2541456/2503041/42 |
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Fax No.: |
91-261-2541496 |
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E-Mail : |
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Website : |
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Factory : |
Block No. 555, NH-08, Village Mahuvea, Taluka Mangrol, Surat - 394125, Gujarat, India |
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Tel. No.: |
91-261-3312660/61 |
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Branch Office : |
Located at:
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Jayesh Batukbhai Desai |
|
Designation : |
Director |
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Address : |
B.No-4 Yashvi Satkeval Society, Near.-Sarjan Society, Piplod Choriyasi, Surat - 395007 , Gujarat, India |
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Date of Birth/Age : |
01.07.1969 |
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Date of Appointment : |
26.08.2011 |
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PAN No.: |
AAQPR4394G |
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DIN No.: |
00060977 |
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|
|
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Name : |
Mr. Shivlal Gokulchand Jain |
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Designation : |
Director |
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Address : |
Bungla No.33/ Adarsh Society, Opposite Seventhday School, Athwalines Surat 395001, Gujarat, India |
|
Date of Birth/Age : |
01.01.1958 |
|
Date of Appointment : |
26.08.2011 |
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PAN No.: |
ADZPS8605D |
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DIN No.: |
00061146 |
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|
|
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Name : |
Mr. Pankaj Shivlal Jain |
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Designation : |
Director |
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Address : |
B.No.33, 1 Floor, Adarsh Society Athwalines. Surat -395001 , Gujarat, India |
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Date of Birth/Age : |
08.06.1989 |
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Date of Appointment : |
26.08.2011 |
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PAN No.: |
AIZPJ6254G |
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DIN No.: |
03597235 |
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|
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Name : |
Mausam Vijay Desai |
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Designation : |
Director |
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Address : |
4, Sant Kewal Society, Behind Sarjan Society, Near Amidhara Apartment,
Umra, Surat - 395007, Gujarat, India |
|
Date of Birth/Age : |
07.02.1996 |
|
Date of Appointment : |
20.11.2015 |
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DIN No.: |
07329983 |
KEY EXECUTIVES
|
Name : |
Priyanshi Venugopalan Nair |
|
Designation : |
Company Secretary |
|
Address : |
B/210, Divyam Residency, Morabhagal, Behind Shubhas Garden, Jahagirpura Road, Surat -395009, Gujarat, India |
|
Date of Appointment : |
12.05.2017 |
|
PAN No.: |
AKBPN2349E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Jayesh B Desai |
|
8900000 |
|
Shival Gokulchand Jain |
|
8600000 |
|
Pankaj Shivlal Jain |
|
2994600 |
|
Bhumiben Desai |
|
4500000 |
|
Truptiben Desai |
|
4500000 |
|
Seemaben Jain |
|
1450000 |
|
Rikuben Jain |
|
4000000 |
|
Sushilaben Jain |
|
2750000 |
|
Mausam Vijay Desai |
|
3198000 |
|
Jayesh B Desai HUF |
|
3900000 |
|
Shival Gokulchand Jain HUF |
|
2707400 |
|
Sanjay S. Jain HUF |
|
2500000 |
|
Total |
|
50000000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cocoa, Chocolate and Sugar Confectionery. (Registered Activity) |
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Products : |
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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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Imports : |
Not Divulged |
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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 declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
PKMG and Company Chartered Accountants |
|
Address : |
7011,, World Trade Centre, Ring Road, Surat – 395 002, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
AALFP0373J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
INR 10/- each |
INR 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
INR 10/- each |
INR 500.000 Million |
|
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|
|
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 |
500.000 |
400.000 |
400.000 |
|
(b) Reserves & Surplus |
(1083.787) |
(659.371) |
(78.328) |
|
(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) |
(583.787) |
(259.371) |
321.672 |
|
|
|
||
|
(3) Non-Current Liabilities |
|
||
|
(a) long-term borrowings |
2196.478 |
1959.092 |
1319.928 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
2196.478 |
1959.092 |
1319.928 |
|
|
|
||
|
(4) Current Liabilities |
|
||
|
(a) Short term borrowings |
254.693 |
269.493 |
301.916 |
|
(b) Trade payables |
64.488 |
84.550 |
58.630 |
|
(c) Other current liabilities |
0.000 |
22.330 |
32.267 |
|
(d) Short-term provisions |
28.764 |
41.986 |
26.178 |
|
Total
Current Liabilities (4) |
347.945 |
418.359 |
418.991 |
|
|
|
||
|
TOTAL |
1960.636 |
2118.080 |
2060.591 |
|
|
|
||
|
II.
ASSETS |
|
||
|
(1) Non-current assets |
|
||
|
(a) Fixed Assets |
|
||
|
(i) Tangible assets |
935.537 |
1003.658 |
1027.408 |
|
(ii) Intangible Assets |
0.387 |
0.417 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
17.348 |
|
(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) |
148.638 |
148.638 |
169.717 |
|
(d) Long-term Loan and Advances |
590.939 |
644.887 |
448.783 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1675.501 |
1797.600 |
1663.256 |
|
|
|
||
|
(2) Current assets |
|
||
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
162.243 |
215.485 |
317.561 |
|
(c) Trade receivables |
113.446 |
93.792 |
6.639 |
|
(d) Cash and cash equivalents |
6.603 |
1.840 |
1.907 |
|
(e) Short-term loans and
advances |
2.843 |
9.363 |
71.228 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
285.135 |
320.480 |
397.335 |
|
|
|
||
|
TOTAL |
1960.636 |
2118.080 |
2060.591 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
603.295 |
282.344 |
161.353 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
603.295 |
282.344 |
161.353 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
333.954 |
141.631 |
157.697 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
56.586 |
62.849 |
(165.539) |
|
|
Employee benefit expense |
114.484 |
105.078 |
61.549 |
|
|
Other expenses |
224.753 |
234.672 |
188.193 |
|
|
TOTAL |
729.777 |
544.230 |
241.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
(126.482) |
(261.886) |
(80.547) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
226.883 |
228.898 |
111.665 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(353.365) |
(490.784) |
(192.212) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
71.050 |
69.181 |
55.833 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(424.415) |
(559.965) |
(248.045) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
21.078 |
(169.717) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(424.415) |
(581.043) |
(78.328) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(8.49) |
(14.53) |
(1.96) |
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 |
(141.421) |
(153.563) |
(243.357) |
|
Net cash flows from (used in) operating activities |
(141.421) |
(153.563) |
(243.357) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
68.64 |
121.25 |
15.02 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.32 |
3.01 |
24.30 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
70.48 |
217.90 |
135.70 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.78) |
(1.22) |
(0.25) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.14) |
(0.26) |
(0.08) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
1.30 |
1.12 |
0.84 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(4.20) |
(8.59) |
5.04 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(0.60) |
(1.61) |
1.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(1.60) |
(3.87) |
3.25 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(0.56) |
(1.14) |
(0.72) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(70.35) |
(205.79) |
(48.54) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(21.65) |
(27.43) |
(3.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
72.70 |
224.02 |
(24.35) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.82 |
0.77 |
0.95 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.35 |
0.25 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(0.30) |
(0.12) |
0.16 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.90 |
5.57 |
4.05 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
0.82 |
0.77 |
0.95 |
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 |
400.000 |
400.000 |
500.000 |
|
Reserves & Surplus |
(78.328) |
(659.371) |
(1083.787) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
321.672 |
(259.371) |
(583.787) |
|
|
|
|
|
|
long-term borrowings |
1319.928 |
1959.092 |
2196.478 |
|
Short term borrowings |
301.916 |
269.493 |
254.693 |
|
Total
borrowings |
1621.844 |
2228.585 |
2451.171 |
|
Debt/Equity
ratio |
5.042 |
(8.592) |
(4.199) |
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 |
161.353 |
282.344 |
603.295 |
|
|
|
74.985 |
113.674 |
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 |
161.353 |
282.344 |
603.295 |
|
Profit |
(78.328) |
(581.043) |
(424.415) |
|
|
(48.54)% |
(205.79)% |
(70.35)% |
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 |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
No |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
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 |
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 |
STATE OF COMPANY'S AFFAIRS
During the year, the revenue from operations of the company
increased from INR 276.545 million to INR 601.630 million as compared to
previous year financial year. The overall expenditure also got increased as
compared to last year. The company suffered a loss of INR 424.415 million at
the end of the year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
1955.612 |
1677.875 |
|
Total |
1955.612 |
1677.875 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C09392895 |
10426298 |
STATE BANK OF INDIA |
26/04/2013 |
18/06/2014 |
- |
689000000.0 |
MID
CORPORATE BRANCH, TRADE HOUSE, OPP. MANDRAWA |
|
2 |
C07221864 |
10426295 |
STATE BANK OF INDIA |
25/04/2013 |
24/05/2014 |
- |
689000000.0 |
MID
CORPORATE BRANCH, TRADE HOUSE, OPP. MANDRAWA |
|
3 |
C38925111 |
10471507 |
State Bank of India |
28/12/2013 |
- |
16/12/2014 |
45000000.0 |
MID
CORPORATE BRANCH, TRADE HOUSE, OPP. MANDRAWA |
|
4 |
C38922571 |
10413275 |
STATE BANK OF INDIA |
31/01/2013 |
- |
16/12/2014 |
204000000.0 |
MID
CORPORATE BRANCH, TRADE HOUSE, OPP. MANDRAWA |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Plant and equipment
- Furniture and fixtures
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 |
|
UK Pound |
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
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.