|
|
|
MIRA INFORM REPORT
|
Report No. : |
489650 |
|
Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ROLLWELL FORGE PRIVATE LIMITED [w.e.f. 12.04.2011] |
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|
|
|
Formerly known
as: |
ROLLWELL
FORGE LIMITED |
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Registered
Office : |
Plot No 1, Survey No 239/1, N. H. 8B Rajkot-Gondal Highway, Shapar,
Veraval, Rajkot - 360002, Gujarat |
|
Tel. No.: |
91-2827-253671 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
25.01.1991 |
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|
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|
Com. Reg. No.: |
04-014964 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 14.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100GJ1991PTC014964 |
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|
|
|
IEC No.: |
2403002194 |
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|
|
TIN No.: |
Not Divulged |
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|
|
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GST No.: |
24AABCR0080P1ZB |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCR0080P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer and Exporter of Forging and Forged Flanges, Forged Pipe
Fitting and Engineering Components. [Confirmed by Management and also
Registered Activity] |
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|
|
|
No. of Employees
: |
165 [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 |
|
Maximum Credit Limit : |
USD 349000 INR 24398600 |
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|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 1991 and it is a Manufacturer and
Exporter of Forging and Forged Flanges, Forged Pipe Fitting and Engineering
Components. As per financials of March 2017, the company has registered sharp
decline in its revenue as compared to its previous year’s revenue and
reported average profit margin. Rating is constrained on account of company’s modest scale of
operations along with susceptibility to foreign exchange fluctuation risk and
working capital intensive operations. However, rating weakness is partially offset by its experienced
management of the company. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some cautions. |
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 |
SMERA |
|
Rating |
Long term rating = B- |
|
Rating Explanation |
Risk-prone-credit-quality and carries very high credit risk |
|
Date |
31.01.2018 |
|
Rating Agency Name |
SMERA |
|
Rating |
Short term rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
31.01.2018 |
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 06.02.2018.
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 : |
Mr. Kishan Kadvaui |
|
Designation : |
General Manager |
|
Contact No.: |
91-8511050501 |
|
Date : |
03.02.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No 1, Survey No 239/1, N. H. 8B Rajkot-Gondal Highway, Shapar,
Veraval, Rajkot - 360002, Gujarat, India |
|
Tel. No.: |
91-2827-253671 |
|
Mobile No.: |
91-8511050501 [Mr. Kisan Kadvaui] |
|
Fax No.: |
91-2827-253571 |
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E-Mail : |
|
|
Website : |
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|
Area : |
11000 Sq. Ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Corporate Office: |
5th Floor, Near Sadar Moti Tanki Chowk,Shree Guru Krupa Tower, Rajkot - 360 001, Gujarat, India |
|
Tel. No.: |
91-281-6644660 |
|
Fax No.: |
91-281-6644661 |
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Area: |
3500 Sq. Ft. |
|
Location: |
Rented |
|
Locality: |
Commercial |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Omprakash Siremal Kanungo |
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Designation : |
Director |
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Address : |
Seth Tukade Bldg. 2nd Floor. 5-Mughbhat Lane, Girgaum, Mumbai - 400004, Maharashtra, India |
||||||||||||||||||||
|
Date of Appointment : |
11.09.2003 |
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DIN No.: |
00248455 |
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Other Directorship :
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||||||||||||||||||||
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Name : |
Mr. Kanji Bhima Rangani |
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Designation : |
Director |
||||||||||||||||||||
|
Address : |
Chandani, 1-Alka Society, P. N. T. Colony, Malviya Nagar, Rajkot - 360004, Gujarat, India |
||||||||||||||||||||
|
Date of Appointment : |
01.07.2016 |
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DIN No.: |
01028350 |
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Other Directorship :
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||||||||||||||||||||
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Name : |
Mr. Rameshbhai Bhimabhai Rangani |
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Designation : |
Director |
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Address : |
Chandani, 1-Alka Society, Mavdi Plot, Rajkot - 360004, Gujarat, India |
||||||||||||||||||||
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Date of Appointment : |
01.07.2016 |
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DIN No.: |
01028416 |
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Other Directorship :
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||||||||||||||||||||
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Name : |
Mr. Mehul Omprakash Kanungo |
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Designation : |
Director |
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|
Address : |
Flat No-141, 14th Floor, Monalisa 686, Bomanji Petit Road, Mumbai - 400036, Maharashtra, India |
||||||||||||||||||||
|
Date of Appointment : |
01.05.2015 |
||||||||||||||||||||
|
DIN No.: |
07107335 |
||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Kishan Kadvaui |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Babulal R. Mehta |
|
25000 |
|
Babulal R. Mehta( HUF) |
|
25000 |
|
Prakash R Mehta |
|
96600 |
|
Naresh R. Mehta |
|
84500 |
|
Niru N. Mehta |
|
40000 |
|
Rushab B. Mehta |
|
52700 |
|
Chandani B. Mehta |
|
71600 |
|
Badamikumar. I Mehta |
|
52800 |
|
Pavanben M. Mehta |
|
20000 |
|
Ajlt M. Mehta |
|
29800 |
|
Kanungo Ferromet Private Limited, India |
|
249700 |
|
Stainless Steel Trading Private Limited, India |
|
248300 |
|
Kanji Bhima Rangani |
|
264000 |
|
Ramesh Bhima Rangani |
|
140000 |
|
Total |
|
1400000 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
64.42 |
|
Promoters (Body corporate) |
35.57 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Forging and Forged Flanges, Forged Pipe
Fitting and Engineering Components. [Confirmed by Management and also Registered
Activity] |
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Products : |
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||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
USA |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cheque and RTGS |
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Purchasing : |
Cheque and RTGS |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
· Esprit Container Line · Kandla Logistics · Om International Courier and Cargo · Sar Transport Systems Private Limited · Gujarat Gas Limited, etc. |
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Customers : |
Retailers and End Users · EMI Transmission Limited, Nasik · Ganga Forging Private Limited · H M Trading Corporation · Kamal Corporation Private Limited · Krishna Concast Private Limited, etc. |
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No. of Employees : |
165 [Approximately] |
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Bankers : |
· Corporation Bank SSI Branch, J P Tower, Tagore Road, Rajkot - 360002, Gujarat, India |
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Facilities : |
|
|
Financial Institution: |
·
Sundaram Finance Limited Tamilnadu,
India |
|
|
|
|
Auditors : |
|
|
Name : |
Bhavin Associates Chartered Accountants |
|
Address : |
709, Everest Complex, Shubhas Road, Opp.Shastri Maidan, Rajkot -
360001, Gujarat, India |
|
Tel. No.: |
91-281-2220123/ 2223153 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAOFB1700E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Associate Companies: |
· Rangani Engineering’s Private Limited · MKJ enterprise Limited · Sunring Trade Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1400000 |
Equity Shares |
INR 10/- each |
INR 14.000 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 |
14.000 |
9.960 |
9.960 |
|
(b) Reserves & Surplus |
107.993 |
83.490 |
79.252 |
|
(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) |
121.993 |
93.450 |
89.212 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
27.053 |
41.671 |
38.850 |
|
(b) Deferred tax liabilities (Net) |
9.995 |
10.929 |
10.929 |
|
(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) |
37.048 |
52.600 |
49.779 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
84.636 |
108.156 |
124.340 |
|
(b)
Trade payables |
19.004 |
49.079 |
156.506 |
|
(c)
Other current liabilities |
1.637 |
10.215 |
23.450 |
|
(d)
Short-term provisions |
2.135 |
2.180 |
4.545 |
|
Total
Current Liabilities (4) |
107.412 |
169.630 |
308.841 |
|
|
|
|
|
|
TOTAL |
266.453 |
315.680 |
447.832 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
63.171 |
65.614 |
79.138 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
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 |
1.100 |
4.625 |
7.739 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
64.271 |
70.239 |
86.877 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
146.219 |
164.647 |
214.395 |
|
(c)
Trade receivables |
11.462 |
34.793 |
71.446 |
|
(d)
Cash and cash equivalents |
0.964 |
0.587 |
0.535 |
|
(e)
Short-term loans and advances |
37.927 |
43.155 |
72.003 |
|
(f)
Other current assets |
5.610 |
2.259 |
2.576 |
|
Total
Current Assets |
202.182 |
245.441 |
360.955 |
|
|
|
|
|
|
TOTAL |
266.453 |
315.680 |
447.832 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
100.358 |
250.170 |
448.306 |
|
|
|
Other Income |
3.628 |
24.493 |
0.750 |
|
|
|
TOTAL |
103.986 |
274.663 |
449.056 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Raw Materials |
43.111 |
137.792 |
374.836 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
18.428 |
49.749 |
(34.182) |
|
|
|
Employees benefits expense |
11.541 |
21.008 |
12.898 |
|
|
|
Manufacturing expense |
4.596 |
20.413 |
57.556 |
|
|
|
Exceptional items |
0.000 |
0.011 |
0.030 |
|
|
|
Other expenses |
7.585 |
21.989 |
13.810 |
|
|
|
TOTAL |
85.261 |
250.962 |
424.948 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
18.725 |
23.701 |
24.108 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
11.066 |
14.544 |
17.062 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.659 |
9.157 |
7.046 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.458 |
4.840 |
7.638 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
0.201 |
4.317 |
(0.592) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.935) |
0.079 |
1.472 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.136 |
4.238 |
(2.064) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
62.759 |
179.455 |
355.210 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
24.526 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
0.08 |
0.43 |
(0.21) |
|
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 |
|
|
|
|
|
|
Cash generated from (used in) operations |
(10.921) |
(14.488) |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operating Activities |
(11.794) |
(14.568) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
41.69 |
50.76 |
58.17 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.76 |
7.19 |
6.27 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
160.90 |
130.01 |
152.40 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.13 |
0.14 |
0.11 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.30 |
0.36 |
0.30 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.50 |
0.67 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.92 |
1.60 |
1.83 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.88 |
1.82 |
3.46 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.52 |
0.70 |
0.89 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.69 |
1.63 |
1.41 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.13 |
1.69 |
(0.46) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.43 |
1.34 |
(0.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.93 |
4.54 |
(2.31) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.88 |
1.45 |
1.17 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.52 |
0.48 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.46 |
0.30 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.98 |
15.04 |
16.38 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.88 |
1.45 |
1.17 |
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 |
9.960 |
9.960 |
14.000 |
|
Reserves & Surplus |
79.252 |
83.490 |
107.993 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
89.212 |
93.450 |
121.993 |
|
|
|
|
|
|
long-term borrowings |
38.850 |
41.671 |
27.053 |
|
Short term borrowings |
124.340 |
108.156 |
84.636 |
|
Total
borrowings |
163.190 |
149.827 |
111.689 |
|
Debt/Equity
ratio |
1.829 |
1.603 |
0.916 |
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 |
448.306 |
250.170 |
100.358 |
|
|
|
(44.197) |
(59.884) |
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 |
448.306 |
250.170 |
100.358 |
|
Profit/(Loss) |
(2.064) |
4.238 |
1.136 |
|
|
(0.46%) |
1.69% |
1.13% |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
Yes |
|
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 |
A00976647 |
10003784 |
SUNDARAM FINANCE
LTD |
19/04/2006 |
- |
- |
233920.0 |
|
|
2 |
A00724096 |
10003098 |
SUNDARAM FINANCE
LTD |
31/03/2006 |
- |
- |
530640.0 |
|
|
3 |
B30493837 |
80043790 |
CORPORATION BANK |
10/05/2004 |
08/09/2011 |
- |
170908119.0 |
SSI BRANCH, J P
TOWERTAGORE ROADRAJKOTGJ360002IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Kanji Bhima Rangani (Loan) |
0.600 |
0.000 |
|
MkJ Enterprises Limited |
3.304 |
2.982 |
|
Rangani Engineering Loan |
0.000 |
7.730 |
|
Snring Trade Private Limited |
8.591 |
7.781 |
|
V R B Capital Services India Private Limited |
14.558 |
13.139 |
|
Total |
27.053 |
31.632 |
STATE OF
COMPANY’S AFFAIRS AND FUTURE OUTLOOK:
The company has earned Income of INR. 103.986 million (Including other income of INR 3.628 million) for the year 2016-17 as against INR 274.662 million (Including other income of INR 24.493 million) for the year 2015-16. Company has regret to inform to Board of Directors that Company earned profit after Tax of INR 1.136 million for the year 2016-17 as against INR 4.238 million for the year 2015-16. The Company has continuously looking for better future.
FIXED ASSETS:
· Land
· Factory
· Plant and Machinery
· Office Equipment
· Computer
· Furniture
· Vehicle
· Air Conditioner
· Computer Pinter
· Mobile Phone
· Crane
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 64.03 |
|
UK Pound |
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
INFORMATION
DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
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.