|
|
|
MIRA INFORM REPORT
|
Report No. : |
490856 |
|
Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SONA ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Medi-Max House Opposite. Karnavati Hospital,
Ellis Bridge Ahmedabad – 380006, Gujarat |
|
Tel. No.: |
91-79-40071604 / 5 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
04.01.2007 |
|
|
|
|
Com. Reg. No.: |
04-049708 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 3242.989 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27107GJ2007PTC049708 |
|
|
|
|
IEC No.: |
0807016225 |
|
|
|
|
GSTIN/UIN: |
27AAKCS5706L1ZW |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS5706L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Iron and Steel Products; Such as Pig Iron, Mild Steel, Alloy Steel,
Billets, Wire Rod, TMT Bar, Channels and Angles and Importers of Raw
Material. (Registered activity and also confirmed by management) |
|
|
|
|
No. of Employees
: |
210 (Approximately) (Office + Factory) |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2007. It is engaged as manufacturer
of iron and steel products. For the financial year 2017, the company has booked heavy operating
loss. 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. The company’s weak financial profile is reflected by its average
solvency indicators due to highly leveraged balance sheet profile. Further rating gets constrained, by its loss making nature of
operations, highly aggressive capital structure and weak debt coverage
metrics and vulnerability of its operating margin to volatility in raw
material prices. Payments are reported to be slow. In view of aforesaid, the company can be considered for business
dealings at fully safe and secured terms. |
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 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Dhawal Panchal |
|
Designation : |
Assistant Manager Finance |
|
Contact No.: |
91-79-40071605/9824654516 |
|
Date : |
13.12.2017 |
LOCATIONS
|
Registered Office : |
4th Floor, Medi-Max House Opposite. Karnavati Hospital,
Ellis Bridge Ahmedabad – 380006, Gujarat |
|
Tel. No.: |
91-79-40071604 / 5 |
|
Mobile No.: |
91-9824654516 (Mr. Dhawal Panchal) |
|
Fax No.: |
91-79-40071607 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
C-1, MIDC, Village Lonand, Taluka Khandala, District Satara – 415521, |
|
Tel No.: |
91-2169-226826/ 226828 / 2270000 |
|
Fax No.: |
91-2169-226828 |
|
|
|
|
Branch Office: |
C2/15, Brahma Estate, |
|
Tel No.: |
91-20-26831546/ 30428329 |
|
Fax No: |
91-20-26837239 |
|
Location: |
Owned |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Amit Kumar Jain |
||||||||||||||||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||||||||||||||||
|
Address : |
E-302, Ashawari, Behind Fun Republic, Near Karnavati Club, S.G.
Highway, Satellite, Ahmedabad – 380015, Gujarat, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.07.1973 |
||||||||||||||||||||||||||||||||
|
Qualification : |
Graduation |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2014 |
||||||||||||||||||||||||||||||||
|
PAN No.: |
ADRPJ4826H |
||||||||||||||||||||||||||||||||
|
Voter ID No.: |
LPZ8936744 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
01353681 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
Name : |
Mr. Asit Pawankumar Jain |
||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||
|
Address : |
E-302, Ashawari, Behind Fun Republic, Near Karnavati Club, S.G. Highway, Satellite, Ahmedabad – 380015, Gujarat, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.09.1976 |
||||||||||||||||||||||||||||||||
|
Qualification : |
Graduation |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2014 |
||||||||||||||||||||||||||||||||
|
PAN No.: |
AAVPJ6075F |
||||||||||||||||||||||||||||||||
|
Voter ID No.: |
LPZ8935751 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
01353705 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ashok Kumar Srivastava |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Sai Dham 297/1, Near Karmali Railway Station, Carambolim,
CorlimIe, North Goa – 403110, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
11.06.2015 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00182303 |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Ashok Kumar Srivastava |
|
Designation : |
Director |
|
Address : |
Sai Dham 297/1, Near Karmali Railway Station, Carambolim,
CorlimIe, North Goa – 403110, India |
|
Date of Appointment : |
11.06.2015 |
|
DIN No.: |
00182303 |
|
PAN No.: |
AAVPR3039F |
|
|
|
|
Name : |
Mr. Dhawal Panchal |
|
Designation : |
Assistant Manager Finance |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
SHAREHOLDING FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
8.35 |
|
Promoters- Body corporate |
85.08 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
4.53 |
|
Public/Other than promoters - Body corporate |
1.64 |
|
Public/Other than promoters- Others |
0.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Iron and Steel Products; Such as Pig Iron, Mild Steel, Alloy Steel,
Billets, Wire Rod, TMT Bar, Channels and Angles and Importers of Raw Material.
(Registered activity and also confirmed by management) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|||||
|
Products : |
Finished Goods |
||||
|
Countries : |
·
Pakistan ·
Australia |
||||
|
|
|
||||
|
Imports : |
|||||
|
Products : |
Raw Material |
||||
|
Countries : |
·
Germany ·
China |
||||
|
|
|
||||
|
Terms : |
|||||
|
Selling : |
Cash and Cheque |
||||
|
|
|
||||
|
Purchasing : |
Cash and Cheque |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers, End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
210 (Approximately) (Office + Factory) |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Arvind A. Thakkar and Company Chartered Accountants |
|
Address : |
Ground Floor,
Truptii Apartment, Behind Old High Court, Navrangpura, Ahmedabad, Gujarat,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHPT1587E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their relatives: |
· Shree Krishna Ship Breaking Ind. |
|
|
|
|
Others related
parties: |
· Bhikkamal Chhotelal Exim Private Limited · Amjay Medimax (India) Private Limited. · Tulsi Trimpex Private Limited. · Neuromed Imaging Centre Private Limited · Sugam Mineral Exim Private Limited · Ganpati Cold Ware house Private Limited. · Narayani Vyapaar Private Limited · Yamuna Advisory Private Limited. · Lonand Cement Private Limited · Raag Steel Private Limited. · Shree Krishna Oxygen Industries |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
325000000 |
Equity Shares |
INR 10/- each |
INR 3250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
324298957 |
Equity Shares |
INR 10/- each |
INR 3242.989 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
3242.989 |
3242.989 |
2600.000 |
|
(b) Reserves &
Surplus |
(6372.696) |
(2830.919) |
(1386.678) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
641.857 |
|
Total Shareholders’ Funds
(1) + (2) |
(3129.707) |
412.070 |
1855.179 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
7467.659 |
8212.186 |
7572.093 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
97.642 |
45.470 |
58.243 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
7565.301 |
8257.656 |
7630.336 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3143.711 |
2115.451 |
1836.852 |
|
(b) Trade payables |
764.526 |
1770.110 |
723.005 |
|
(c) Other current
liabilities |
2977.894 |
1117.972 |
584.530 |
|
(d) Short-term provisions |
1.000 |
1.000 |
98.348 |
|
Total Current Liabilities
(4) |
6887.131 |
5004.533 |
3242.735 |
|
|
|
|
|
|
TOTAL |
11322.725 |
13674.259 |
12728.250 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6955.571 |
6367.570 |
5946.695 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
825.613 |
1133.067 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
47.617 |
47.717 |
47.717 |
|
(c) Deferred tax assets
(net) |
171.883 |
229.566 |
0.000 |
|
(d) Long-term Loan and Advances |
255.875 |
272.610 |
11.247 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
111.379 |
|
Total Non-Current Assets |
7430.946 |
7743.076 |
7250.105 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1094.558 |
2550.455 |
2425.706 |
|
(c) Trade receivables |
1257.507 |
1730.252 |
1171.053 |
|
(d) Cash and cash
equivalents |
89.195 |
184.121 |
199.818 |
|
(e) Short-term loans and
advances |
1127.561 |
1091.329 |
1668.875 |
|
(f) Other current assets |
322.958 |
375.026 |
12.693 |
|
Total Current Assets |
3891.779 |
5931.183 |
5478.145 |
|
|
|
|
|
|
TOTAL |
11322.725 |
13674.259 |
12728.250 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
4126.373 |
6083.068 |
6559.391 |
|
|
Other Income |
9.666 |
67.093 |
115.990 |
|
|
TOTAL |
4136.039 |
6150.161 |
6675.381 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3846.234 |
4585.682 |
5090.593 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
282.889 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
776.277 |
(351.293) |
(67.530) |
|
|
Employees benefits
expense |
298.560 |
339.073 |
140.210 |
|
|
Extraordinary item |
75.192 |
75.192 |
0.000 |
|
|
Other expenses |
984.039 |
1158.764 |
1028.103 |
|
|
TOTAL |
5980.302 |
6090.307 |
6191.376 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(1844.263) |
59.854 |
484.005 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1274.116 |
1129.255 |
1106.071 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(3118.379) |
(1069.401) |
(622.066) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
417.205 |
381.032 |
376.172 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(3535.584) |
(1450.433) |
(998.238) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
(42.338) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(3535.584) |
(1450.433) |
(955.900) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(10.9) |
(4.86) |
(4.64) |
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 |
573.919 |
|
Cash generated from operations |
(2409.663) |
(754.146) |
(2952.880) |
|
Net cash flows from (used in) operations |
(1126.289) |
411.823 |
(3293.875) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
111.23 |
103.82 |
65.16 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.28 |
3.52 |
5.60 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
72.55 |
132.71 |
51.84 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(1.68) |
0.02 |
0.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.27) |
0.01 |
0.07 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.27 |
0.97 |
0.89 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(3.39) |
25.06 |
5.38 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(2.20) |
12.14 |
1.75 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(2.22) |
17.46 |
3.82 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(1.45) |
0.05 |
0.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(85.68) |
(23.84) |
(14.57) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(31.23) |
(10.61) |
(7.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
112.97 |
(351.99) |
(51.53) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.57 |
1.19 |
1.69 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.41 |
0.68 |
0.94 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.28) |
0.03 |
0.15 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.27 |
3.18 |
3.84 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.57 |
1.19 |
1.69 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
2600.000 |
3242.989 |
3242.989 |
|
Reserves & Surplus |
(1386.678) |
(2830.919) |
(6372.696) |
|
Share Application money
pending allotment |
641.857 |
0.000 |
0.000 |
|
Net worth |
1855.179 |
412.070 |
(3129.707) |
|
|
|
|
|
|
long-term borrowings |
7572.093 |
8212.186 |
7467.659 |
|
Short term borrowings |
1836.852 |
2115.451 |
3143.711 |
|
Total borrowings |
9982.864 |
10327.637 |
10611.370 |
|
Debt/Equity ratio |
5.381 |
25.063 |
(3.391) |
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 |
6559.391 |
6083.068 |
4126.373 |
|
|
|
(7.262) |
(32.166) |
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 |
6559.391 |
6083.068 |
4126.373 |
|
Profit |
(955.900) |
(1450.433) |
(3535.584) |
|
|
(14.57)% |
(23.84)% |
(85.68)% |
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 |
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) |
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 |
OPERATIONAL
PERFORMANCE:
During the year, the turnover and other income stood at INR 4136.039 Million against INR.6150.161 Million in the previous year. The Company incurred a net loss of INR 3535.584 Million during the period under review as against Net Loss of INR 1450.433 in the previous year. Due to severe recession in the economy and demonitisation, the business was affected very badly. Moreover, the margins also came under pressure due to high cost of raw materials and low price of finished goods. This resulted into defaults in payment of dues to the Banks.
OUTLOOK:
The market is still reeling under pressure. However the Board
REVENUE FROM
OPERATION:
Sales revenue is recognized when property in the goods with all risk rewards and effective control of goods usually associated with ownership are transferred to buyer at price. Sales comprise manufacturing and trading sales and are exclusive of excise duty and local taxes and sales return. The various Discounts and rate differences on the Sales those accepted/rejected are accounted in the year, however if the same is
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances
from related parties |
415.837 |
700.677 |
|
Total |
415.837 |
700.677 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G08207961 |
100040782 |
BANK OF MAHARASHTRA |
07/07/2016 |
- |
- |
62400000.0 |
ASHRAM ROAD BRANCH, 10 EMBASSEY MARKETNR. DINESH HALLAHMEDABADGJ380009IN |
|
2 |
G05047238 |
100030867 |
UNION BANK OF INDIA |
14/05/2016 |
- |
- |
122000000.0 |
619 SACHAPIR STREETPUNE CAMPPUNEMH411001IN |
|
3 |
G02131068 |
100022137 |
DENA BANK |
31/03/2016 |
- |
- |
133700000.0 |
INDUSTRIAL FINANCE BRANCH, 2ND FLOOR,DENALAXMI BUILDING,ASHRAM ROAD,NAVRANGPURAAHMEDABADGJ380009IN |
|
4 |
G01694918 |
100020542 |
STATE BANK OF INDIA |
04/03/2016 |
- |
- |
392200000.0 |
OVERSEAS BRANCH,1ST FLOOR, ISCON ELEGANCE,NEAR PRAHLADNAGAR, S.G. HIGHWAY,AHMEDABADGJ380015IN |
|
5 |
G57689572 |
10584725 |
SBICAP TRUSTEE COMPANY LIMITED |
31/07/2015 |
26/09/2017 |
- |
11599700000.0 |
202 MAKER TOWER "E" , CUFFE PARADEMUMBAIMUMBAIMH410301IN |
|
6 |
G37353562 |
10543171 |
SBICAP TRUSTEE COMPANY LIMITED |
30/12/2014 |
14/02/2017 |
- |
11599700000.0 |
202 MAKER TOWER "E" , CUFFE PARADEMUMBAIMUMBAIMH400005IN |
|
7 |
B80311780 |
10438545 |
HDFC BANK LIMITED |
24/07/2013 |
- |
- |
3060000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
8 |
B77648061 |
10432399 |
HDFC BANK LIMITED |
20/06/2013 |
- |
- |
4343000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
9 |
B74754185 |
10424711 |
BANK OF MAHARASHTRA |
28/03/2013 |
- |
- |
250000000.0 |
1208 BHUSARI COLONY BRANCH PUNE, PAUD ROADBHUSARI COLONYPUNEMH411038IN |
|
10 |
A99913428 |
10251640 |
KOTAK MAHINDRA BANK LIMITED |
09/11/2010 |
- |
- |
5185754.0 |
36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021 |
FIXED ASSETS:
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
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 64.45 |
|
|
1 |
INR 85.94 |
|
Euro |
1 |
INR 75.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
PUJ |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKTS |
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 |
YES |
|
--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.