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|
|
MIRA
INFORM REPORT
|
Report No. : |
491213 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
KHATU SHYAM CONCRET UDYOG |
|
|
|
|
Registered
Office : |
Gut No. 84/3, Khadki Village, Off Nagar, Daund Road, Ahmednagar – 414006,
Maharashtra |
|
Mobile No.: |
91-8983520035 / 9323713713 (Mr. Pankaj Indrachand Shah) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of
Establishment: |
2007 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 26.345 Million |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJFK0985D |
|
|
|
|
GSTIN : |
27AAJFK0985D1Z9 |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer of PSC Electric Poles (Power Distribution). (Confirmed by
management) |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a partnership concern established in the year 2007. It is a
manufacturer of PSC Electric Poles. As per the financial records of 2017, the concern has achieved a
decent growth of 8.99% as compared to the previous year’s revenue and has
earned an average profitability margin of 3.73%. Rating takes into consideration, the satisfactory financial profile of
the concern marked by adequate capital base along with low debt balance sheet
profile. Payments are seems to be usually correct. In view of aforesaid, the concern can be considered for business
dealings at usual trade terms and condition. |
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 08.02.2018.
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
|
Name : |
Mr. Pankaj Indrachand Shah |
|
Designation : |
Partner |
|
Contact No.: |
91-9323713713 |
LOCATIONS
|
Registered Office / Factory : |
Gut No. 84/3, Khadki Village, Off Nagar, Daund Road, Ahmednagar – 414006,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8983520035 / 9323713713 (Mr. Pankaj Indrachand Shah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
PARTNERS
|
Name : |
Mr. Pankaj Indrachand Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Rupa Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Indrachand Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Bhupesh Shah |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PSC Electric Poles (Power Distribution). (Confirmed by
management) |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment, L/C, Cheque, Credit (30, 60 Days) |
|
|
|
|
Purchasing : |
Advance Payment, L/C, Cheque, Credit (30, 60 Days) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Power Sector (Electrical Construction)
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No. of Employees : |
40 (Approximately) |
||||||||||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Amrut Deshmukh and Company Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Sister Concern: |
Pan India Presence |
CAPITAL STRUCTURE
|
Particulars |
INR in Million |
|
|
|
|
CAPITAL ACCOUNT |
|
|
Bhupesh Shah |
4.605 |
|
Indrachand Shah |
10.143 |
|
Rupa Shah |
7.991 |
|
Pankaj Shah |
3.606 |
|
Total |
26.345 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
26.345 |
22.552 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
26.345 |
22.552 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
9.549 |
5.084 |
|
|
2] Unsecured Loans |
|
10.792 |
9.731 |
|
|
TOTAL BORROWING |
|
20.341 |
14.815 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
46.686 |
37.367 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
13.394 |
8.882 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
10.733 |
12.008 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
6.315
|
2.836
|
|
|
Sundry Debtors |
|
16.899
|
16.282
|
|
|
Cash & Bank Balances |
|
3.005
|
0.761
|
|
|
Other Current Assets |
|
0.148
|
0.654
|
|
|
Loans & Advances |
|
0.000
|
0.000
|
|
Total
Current Assets |
|
26.367
|
20.533
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
4.335
|
2.864
|
|
|
Other Current Liabilities |
|
1.004
|
2.704
|
|
|
Provisions |
|
0.000
|
0.000
|
|
Total
Current Liabilities |
|
5.339
|
5.568
|
|
|
Net Current Assets |
|
21.028
|
14.965
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
1.531 |
1.512 |
|
|
|
|
|
|
|
|
TOTAL |
|
46.686 |
37.367 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
53.949 |
49.796 |
|
|
Pole Freight |
|
15.124 |
13.58 |
|
|
Discount Received |
|
0.006 |
0.005 |
|
|
Other Income |
|
0.861 |
0.744 |
|
|
TOTAL |
|
69.940 |
64.125 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
32.997 |
34.906 |
|
|
Labour Charges |
|
6.483 |
4.746 |
|
|
Wages |
|
0.391 |
0.388 |
|
|
Power Charges |
|
0.258 |
0.198 |
|
|
Excise Duty |
|
2.451 |
0.783 |
|
|
Water Charges |
|
0.135 |
0.256 |
|
|
Transportation Charges |
|
3.276 |
2.387 |
|
|
Stores and Consumption |
|
0.636 |
1.184 |
|
|
Diesel and Oil for Truck
and Generator |
|
3.753 |
2.740 |
|
|
Mould Repairing Expense |
|
0.000 |
0.262 |
|
|
Service Tax |
|
0.202 |
0.412 |
|
|
Machine Hire Charges |
|
0.145 |
0.003 |
|
|
repair and Maintenance |
|
1.317 |
1.298 |
|
|
Truck Running Expenses |
|
0.132 |
0.176 |
|
|
Loading Unloading Charges |
|
1.161 |
1.083 |
|
|
Govt Taxes |
|
0.130 |
0.015 |
|
|
Insurance |
|
0.175 |
0.116 |
|
|
Bonus |
|
0.127 |
0.108 |
|
|
Salary |
|
1.657 |
1.876 |
|
|
Salary to Partners |
|
4.068 |
2.258 |
|
|
Pre-Operative Expense |
|
0.099 |
0.099 |
|
|
Vehicle Expense |
|
0.068 |
0.052 |
|
|
Repairs of Vehicles |
|
0.075 |
0.125 |
|
|
Miscellaneous expense |
|
0.003 |
0.092 |
|
|
Travelling Expense |
|
0.018 |
0.043 |
|
|
Interest on Capital |
|
2.538 |
2.129 |
|
|
Other Expense |
|
0.319 |
0.196 |
|
|
TOTAL |
|
62.614 |
57.931 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
7.326 |
6.194 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
1.961 |
2.384 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
5.365 |
3.810 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
2.789 |
1.524 |
|
|
|
|
|
|
|
|
NET PROFIT |
|
2.576 |
2.286 |
Expected Sales (2017-2018) : INR 100.000 Million (Approximately)
The above information has been parted by Mr. Pankaj Shah (Partner)
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
89.29 |
93.77 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
4.09 |
3.89 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
47.95 |
29.95 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
1.16 |
2.18 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
0.55 |
0.70 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.49 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
0.77 |
0.66 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
0.61 |
0.68 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
0.51 |
0.39 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
3.74 |
2.60 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
((PAT / Sales) * 100) |
% |
|
3.73 |
3.61 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
4.95 |
5.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
9.78 |
10.14 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
1.63 |
1.34 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
1.24 |
1.16 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.51 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
0.77 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
1.63 |
1.34 |
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 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Share Capital |
22.552 |
26.345 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Net
worth |
22.552 |
26.345 |
|
|
|
|
|
Secured Loans |
5.084 |
9.549 |
|
Unsecured Loans |
9.731 |
10.792 |
|
Total
borrowings |
14.815 |
20.341 |
|
Debt/Equity
ratio |
0.657 |
0.772 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
63.381 |
69.079 |
|
|
|
8.990 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
63.381 |
69.079 |
|
Profit |
2.286 |
2.576 |
|
|
3.61% |
3.73% |
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
No |
|
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Karan Shah |
1.595 |
1.386 |
|
Amitkumar Dugar |
1.017 |
0.222 |
|
Ashokkumar Ganesh |
0.743 |
0.660 |
|
Indrachand Shah HUF |
2.586 |
2.279 |
|
Kusumdevi Dugar |
0.000 |
0.684 |
|
Pankaj Shah HUF |
3.010 |
2.652 |
|
Sharda Shah |
1.346 |
1.186 |
|
Vivek A Dugar HUF |
0.495 |
0.440 |
|
Vivek Dugar |
0.000 |
0.222 |
|
|
|
|
|
Total |
10.792 |
9.731 |
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.13 |
|
|
1 |
INR 89.49 |
|
Euro |
1 |
INR 79.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
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.