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|
MIRA INFORM REPORT
|
Report No. : |
490214 |
|
Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BALAJI MULTIFLEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No G 1612, GIDC Metoda, Taluka Lodhika, District Rajkot-360035,
Gujarat |
|
Tel. No.: |
91-2827-287977 |
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|
|
|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
18.12.2001 |
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|
Com. Reg. No.: |
04-040276 |
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|
|
Capital
Investment / Paid-up Capital : |
INR 5.000
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202GJ2001PTC040276 |
|
|
|
|
IEC No.: |
Not Divulged |
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|
|
GST No.: |
24AACCB4222G1Z9 |
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TIN No.: |
24092400354 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCB4222G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Laminated Polyester Pouch and also into Windmill Division. [Registered Activity] |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2001 having fine track record. It is engaged in manufacturing of multi-layered printed plastic films used for primary packaging of food and snack industry. As per the available financials of March 2017, the company has achieved decent growth in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the sound financial risk profile marked by healthy net worth base, comfortable leverage and strong debt protection metrics. Rating continue to derive strengths from its long and established track record of its business operations in packaging industry along with strong operational linkages with “Balaji Wafers Private Limited”, in addition to its experienced promoters. Further, the company has achieved remarkable Earnings Per Share of INR 298.00 against its face value of INR 10. However, these rating strengths gets partially offset by susceptibility of its profitability to volatility in prices of raw materials and its presence in a highly competitive flexible packaging material industry. Payments seems to be regular. In view of aforesaid, the company can be considered for business dealings with usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating=A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
30.03.2017 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating=A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
30.03.2017 |
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 07.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED BY
|
Name : |
Mr. Chandrakant Valllabhdas Bhalara |
|
Designation : |
Wholetime Director |
|
Contact No.: |
91-9825074741 |
|
Date : |
06.02.2018 |
LOCATIONS
|
Registered Office : |
Plot No G 1612, GIDC Metoda, Taluka Lodhika, District Rajkot-360035,
Gujarat, India |
|
Tel. No.: |
91-2827-287977 |
|
Mobile No.: |
91-9825074741 [Mr. Chandrakant Valllabhdas Bhalara] |
|
Fax No.: |
91-2827-287979 |
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E-Mail : |
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Website : |
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Factory : |
Plot No.G-1515 to 1522-B, G.I.D.C., Metoda, Taluka Lodhika District,
Rajkot - 360 035, Gujarat, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Chandrakant Valllabhdas Bhalara |
|
Designation : |
Wholetime Director |
|
Address : |
Pavitra, 2 Suryoday Society, Opp. St. Mary's School,
Kalawad Road, Rajkot- 360005, Gujarat, India |
|
Date of Birth/Age : |
15.06.1957 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
18.12.2001 |
|
PAN No.: |
ACHPB0377Q |
|
DIN No.: |
00525496 |
|
|
|
|
Name : |
Mr. Pranav Chandrakant Bhalara |
|
Designation : |
Director |
|
Address : |
Pavitra, 2 - Suryoday Society Opp St Mary School, Kalawad Road,
Rajkot- 360005, Gujarat, India |
|
Date of Birth/Age : |
01.02.1983 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
01.03.2007 |
|
PAN No.: |
AFAPB2371N |
|
DIN No.: |
03299470 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Kanjibhai Virani |
4000 |
0.80 |
|
Chandrakantbhai Bhalara |
116000 |
23.20 |
|
Pranav Chandrakant Bhalara [Patel] |
115000 |
23.00 |
|
Bhavnaben Alpeshbhai Patel |
150000 |
30.00 |
|
Pravinaben Chandrakant Bhalara |
115000 |
23.00 |
|
|
|
|
|
Total |
500000 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Laminated Polyester Pouch and also into Windmill Division. [Registered Activity] |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Kotak Mahindra Bank Limited 36-38a, Nariman Bhavan, 227,D,, Nariman Point,, Mumbai - 400021, Maharashtra, India · Small Industries Development Bank of India |
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Facilities : |
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Auditors : |
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|
Name : |
B.M. Vasoya and Associates Chartered Accountants |
|
Address : |
12/3-Bhaktinagar Station Plot, Near Bank of Baroda, Rajkot - 360 002, Gujarat-India |
|
PAN No.: |
AELPV5012Q |
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|
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|
Memberships : |
Not Available |
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|
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|
Collaborators : |
Not Available |
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|
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
INR 10/- each |
INR 6.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 10/- each |
INR 5.000
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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves and Surplus |
668.226 |
519.299 |
421.063 |
|
(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) |
673.226 |
524.299 |
426.063 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
327.706 |
84.273 |
77.411 |
|
(b) Deferred tax liabilities (Net) |
30.612 |
23.977 |
20.255 |
|
(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) |
358.318 |
108.250 |
97.666 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
93.260 |
0.000 |
0.000 |
|
(b) Trade
payables |
124.176 |
104.067 |
147.781 |
|
(c) Other current
liabilities |
14.240 |
39.071 |
3.665 |
|
(d) Short-term
provisions |
40.711 |
25.046 |
17.316 |
|
Total Current
Liabilities (4) |
272.387 |
168.184 |
168.762 |
|
|
|
|
|
|
TOTAL |
1303.931 |
800.733 |
692.491 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
450.596 |
304.181 |
292.410 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
175.682 |
14.861 |
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 |
13.673 |
11.418 |
13.670 |
|
Total Non-Current
Assets |
639.951 |
330.460 |
306.080 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
243.974 |
229.480 |
230.633 |
|
(c) Trade receivables |
0.128 |
0.336 |
54.828 |
|
(d) Cash and
bank balances |
219.884 |
219.636 |
79.432 |
|
(e)
Short-term loans and advances |
155.180 |
8.076 |
6.662 |
|
(f) Other
current assets |
44.814 |
12.745 |
14.856 |
|
Total
Current Assets |
663.980 |
470.273 |
386.411 |
|
|
|
|
|
|
TOTAL |
1303.931 |
800.733 |
692.491 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1609.968 |
1501.198 |
1418.149 |
|
|
Other Income |
25.527 |
11.255 |
20.303 |
|
|
TOTAL |
1635.495 |
1512.453 |
1438.452 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1235.397 |
1167.180 |
1207.919 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(29.198) |
(1.980) |
(14.309) |
|
|
Employee benefit expense |
75.382 |
58.724 |
46.484 |
|
|
CSR expenditure |
0.867 |
0.632 |
0.231 |
|
|
Other expenses |
61.307 |
55.728 |
53.430 |
|
|
TOTAL |
1343.755 |
1280.284 |
1293.755 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
291.740 |
232.169 |
144.697 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.027 |
10.975 |
(2.023) |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
290.713 |
221.194 |
146.720 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
58.714 |
61.053 |
54.771 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
231.999 |
160.141 |
91.949 |
|
|
|
|
|
|
|
Less |
TAX |
83.071 |
61.905 |
29.430 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
148.928 |
98.236 |
62.519 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
217.076 |
47.752 |
17.997 |
|
|
Tools and Parts |
0.261 |
0.902 |
0.175 |
|
|
TOTAL IMPORTS |
217.337 |
48.654 |
18.172 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
298.00 |
196.00 |
125.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.136 |
38.628 |
3.661 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
231.999 |
160.141 |
28.817 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
231.999 |
160.141 |
7.921 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
0.03 |
0.08 |
14.11 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
12577.88 |
4467.85 |
25.87 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
36.69 |
32.54 |
44.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.20 |
1.01 |
0.63 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.47 |
0.73 |
0.49 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.46 |
0.36 |
0.36 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.63 |
0.23 |
0.19 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.40 |
0.32 |
0.40 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.93 |
0.61 |
0.69 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
284.07 |
21.15 |
(71.53) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
9.25 |
6.54 |
4.41 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
11.42 |
12.27 |
9.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.12 |
18.74 |
14.67 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.44 |
2.80 |
2.29 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.54 |
1.43 |
0.92 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.52 |
0.65 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
84.22 |
24.58 |
16.21 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.44 |
2.80 |
2.29 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
421.063 |
519.299 |
668.226 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
426.063 |
524.299 |
673.226 |
|
|
|
|
|
|
Long-term borrowings |
77.411 |
84.273 |
327.706 |
|
Short term borrowings |
0.000 |
0.000 |
93.260 |
|
Current maturities of
long-term debts |
3.661 |
38.628 |
0.136 |
|
Total
borrowings |
81.072 |
122.901 |
421.102 |
|
Debt/Equity
ratio |
0.190 |
0.234 |
0.625 |
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 |
1418.149 |
1501.198 |
1609.968 |
|
|
|
5.856 |
7.246 |
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 |
1418.149 |
1501.198 |
1609.968 |
|
Profit/ (Loss) |
62.519 |
98.236 |
148.928 |
|
|
4.41
% |
6.54
% |
9.25
% |
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 |
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 |
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 |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G60175551 |
10105180 |
KOTAK MAHINDRA BANK LIMITED |
27/05/2008 |
13/10/2017 |
- |
692600000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
|
2 |
G55803316 |
10059031 |
KOTAK MAHINDRA BANK LIMITED |
02/07/2007 |
25/09/2017 |
- |
692600000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
3 |
Y10196862 |
90107170 |
ICICI BANK LTD. |
18/08/2005 |
- |
- |
350000.0 |
JAI HIND PRESS BLDG.KASTURBA ROADRAJKOTGJIN |
|
4 |
G12836037 |
10271763 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
11/03/2011 |
- |
31/08/2016 |
8400000.0 |
1ST FLOOR NIRMAL, 7 RAMKRISHNA NAGAR CORNEROPP. COMMISSIONER BUNGLOW, OFF YAGNIK ROADRAJKOTGJ360001IN |
|
5 |
A20023412 |
90105163 |
CORPORATION BANK |
13/05/2002 |
17/01/2007 |
01/08/2007 |
25138000.0 |
SSI BRANCH,J.P.TOWER, TAGORE ROAD,RAJKOTGJ360002IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits from directors |
50.611 |
31.459 |
|
Deposits from shareholders |
16.073 |
13.170 |
|
|
|
|
|
Total |
66.684 |
44.629 |
STATE OF COMPANY’S AFFAIRS AND FUTURE
OUTLOOK:
During the year under Report, the Company has recorded the Revenue from Operations of INR 1609.968 Million as compared to INR 1501.198 Million of previous financial year 2015-16. The company is doing growth every year and another reason for increase in profitability is due to reduction in prices of Raw Materials. The net profit of the Company has been 12% eased from INR 98.235 Million of previous year to INR 148.928 Million during the fiscal 2016-17.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
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 64.27 |
|
UK Pound |
1 |
INR 89.72 |
|
Euro |
1 |
INR 79.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
IND |
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.