|
|
|
MIRA INFORM REPORT
|
Report No. : |
488637 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
NEW OPPORTUNITY CONSULTANCY PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, No. 707/708, Cyber One, Plot No. 4 and 6, Sector
No. 30A, Vashi, Navi Mumbai – 400703, Maharashtra |
|
Tel. No.: |
91-22-20870050 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
15.01.2014 |
|
|
|
|
Com. Reg. No.: |
11-252078 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 53.575 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93030MH2014PTC252078 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTIN : |
27AAECN5753G1ZB |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECN5753G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Management consulting and management services; information technology services. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2014 having satisfactory track
record. For the financial year 2017, the company has achieved top line growth
in its revenue as compared to its previous year along with average profit
margin during the year. Rating takes into consideration, the satisfactory financial risk
profile marked by sufficient net worth base and comfortable debt level. However, theses rating strength gets partially offset by volatile
profitability margin and intensive competition in the service industry. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at 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 |
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 DENIED
MANAGEMENT NON-COOPERATIVE: Tel. No.:
91-22-20870358
Tel No.: 91-22-20870050 / 91-422-4035511 –
Numbers are not working
LOCATIONS
|
Registered Office : |
7th Floor, No. 707/708, Cyber One, Plot No. 4 and 6, Sector
No. 30A, Vashi, Navi Mumbai – 400703, Maharashtra, India |
|
Tel. No.: |
91-22-20870050 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office 1: |
No. 726 B, Sri Venki Complex, 2nd Floor, Near Cross Cut
Road, Coimbatore – 641012, Tamilnadu, India |
|
|
|
|
Administrative Office 2: |
6 and 7, Maragadham Plaza, 11/11, S.N. Layout, Cross Cut Road, Near
Flyover, Coimbatore – 641012, Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ramachandra Kasargod Kamath |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
B/2004, Neptune CHSL, Sun City, Adi Shankaracharya Marg,
Powai, Mumbai – 400076, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.01.2017 |
||||||||||||||||||||||||||||||||||||
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DIN No.: |
01715073 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ganesh Ramanand Rao |
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|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 1101, 11th Floor, Ambrosia Raheja Acropolis-II, Mahalaxmi
Road, Deonar Mumbai – 400088, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.03.1966 |
||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.05.2017 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAZPR9012J |
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DIN No.: |
02302989 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mohan Vasant Tanksale |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
C - 3105, 31st Floor, Obero Exquisite, Goregaon (East), Mumbai
– 400063, Maharashtra, India |
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|
Date of Appointment : |
02.01.2017 |
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DIN No.: |
02971181 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ambadas Mukundrao Pedgaonkar |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
A 602, Daffodil 1, Lokhandwala Complex, Kandivali East,
Mumbai – 400101, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.01.2017 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03540861 |
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Meenakshi Rao Ganesh |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
1101, Ambrosia, Raheja Acropolis, Mahalaxmi Road, Deonar,
Mumbai – 400088, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.06.1972 |
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|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
13.07.2017 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
BSBPR6839Q |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06748708 |
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|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Ganesh Ramanand Rao |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 1101, 11th Floor, Ambrosia Raheja Acropolis-II,
Mahalaxmi Road, Deonar Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
13.03.1966 |
|
Qualification : |
Graduate |
|
PAN No.: |
AAZPR9012J |
|
|
|
|
Name : |
Mrs. Mona Jeetendra Thakkar |
|
Designation : |
Company Secretary |
|
Address : |
Sai Ganesh Apartment, Opposite Bhoir Gymkhana M. Phule
(R), Dombivali (West) Mumbai 421202, Maharashtra, India |
|
Date of Appointment : |
03.10.2016 |
|
PAN No.: |
AIUPT1184E |
|
|
|
|
Name : |
Loganathan |
|
Designation : |
Chief Finance Officer |
|
Address : |
47/86, A 4th Street Bharathi Nagar Periyanaicken Palayam, Coimbatore – 641020, Tamilnadu, India |
|
Date of Birth/Age : |
22.02.1980 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
02.08.2016 |
|
PAN No.: |
ADUPL7574M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Meenakshi Rao Ganesh |
2324900 |
43.40 |
|
Ganesh Ramanand Rao |
2675050 |
49.93 |
|
Jasbinder Singh Toor |
357550 |
6.67 |
|
Total |
5357500 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 13.07.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
93.33 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
6.67 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Management consulting and management services; information technology services. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||||
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Imports : |
Not Divulged |
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||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||||||||||||
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||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Hari Bhakti and Co LLP Chartered Accountants |
|
Address : |
Shree Shanmugapriya, 2nd Floor, 454 Poonaiyan St, Crosscut Road, Gandhinagar Coimbatore, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFH2010F |
|
|
|
|
Secretarial Audit
Report
: |
|
|
Name : |
S Sandeep and Associates |
|
Address : |
No. 20. "F" Block, Ground Floor, Gemini Parsn Apartments, New No. 448, Old No. 599, Cathedral Garden Road, Anna Salai, Chennai – 600006, Tamilnadu, India |
|
PAN No.: |
BDSPS8091M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary company: |
U91110MH1998NPL113558 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6600000 |
Equity Shares |
INR 10/- each |
INR 66.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5357500 |
Equity Shares |
INR 10/- each |
INR 53.575
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 |
53.575 |
53.575 |
22.950 |
|
(b) Reserves and Surplus |
119.304 |
35.459 |
2.079 |
|
(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) |
172.879 |
89.034 |
25.029 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
95.131 |
57.671 |
21.100 |
|
(b) Deferred tax liabilities (Net) |
0.963 |
0.282 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.044 |
0.908 |
0.000 |
|
Total Non-current
Liabilities (3) |
98.137 |
58.861 |
21.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
3.144 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
125.279 |
85.858 |
50.682 |
|
(d) Short-term
provisions |
4.989 |
0.002 |
0.000 |
|
Total Current
Liabilities (4) |
130.269 |
85.860 |
53.826 |
|
|
|
|
|
|
TOTAL |
401.285 |
233.755 |
99.955 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
18.392 |
10.107 |
3.445 |
|
(ii)
Intangible Assets |
0.273 |
0.495 |
0.156 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.495 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
18.050 |
18.050 |
13.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.140 |
|
(d)
Long-term loans and advances |
20.283 |
17.190 |
27.290 |
|
(e) Other
Non-current assets |
122.000 |
37.000 |
0.000 |
|
Total Non-Current
Assets |
178.998 |
82.842 |
45.026 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
43.106 |
20.849 |
2.676 |
|
(d) Cash and
bank balances |
171.621 |
128.595 |
52.233 |
|
(e)
Short-term loans and advances |
1.783 |
1.042 |
0.020 |
|
(f) Other
current assets |
5.777 |
0.427 |
0.000 |
|
Total
Current Assets |
222.287 |
150.913 |
54.929 |
|
|
|
|
|
|
TOTAL |
401.285 |
233.755 |
99.955 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
365.413 |
133.264 |
13.022 |
|
|
Other Income |
1.361 |
0.285 |
3.446 |
|
|
TOTAL |
366.774 |
133.549 |
16.468 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
156.162 |
60.450 |
6.027 |
|
|
Other expenses |
39.947 |
23.598 |
4.600 |
|
|
TOTAL |
196.109 |
84.048 |
10.627 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
170.665 |
49.501 |
5.841 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
37.673 |
15.712 |
2.937 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
132.992 |
33.789 |
2.904 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.656 |
1.514 |
0.208 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
129.336 |
32.275 |
2.696 |
|
|
|
|
|
|
|
Less |
TAX |
45.491 |
11.270 |
0.545 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
83.845 |
21.005 |
2.151 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
15.65 |
6.52 |
0.94 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
12.419 |
25.936 |
0.000 |
|
Net cash flows from (used in) operations |
104.604 |
13.551 |
36.249 |
|
Net cash flows from (used in) operating activities |
66.705 |
1.330 |
35.009 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
43.06 |
57.10 |
75.01 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
8.48 |
6.39 |
4.87 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
9.14 |
4.67 |
1.43 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.59 |
0.72 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.62 |
0.94 |
0.97 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.75 |
0.96 |
2.15 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.11 |
0.12 |
0.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.53 |
3.15 |
1.99 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
22.95 |
15.76 |
16.52 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
20.89 |
8.99 |
2.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
48.50 |
23.59 |
8.59 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.71 |
1.76 |
1.02 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.71 |
1.76 |
1.02 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.43 |
0.38 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.01 |
1.56 |
1.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.71 |
1.76 |
1.02 |
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 |
22.950 |
53.575 |
53.575 |
|
Reserves & Surplus |
2.079 |
35.459 |
119.304 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
25.029 |
89.034 |
172.879 |
|
|
|
|
|
|
Long Term borrowings |
21.100 |
57.671 |
95.131 |
|
Short Term borrowings |
3.144 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
0.000 |
25.936 |
12.419 |
|
Total
borrowings |
24.244 |
83.607 |
107.550 |
|
Debt/Equity
ratio |
0.969 |
0.939 |
0.622 |
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 |
13.022 |
133.264 |
365.413 |
|
|
0.000 |
923.376 |
174.202 |
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 |
13.022 |
133.264 |
365.413 |
|
Profit/ (Loss) |
2.151 |
21.005 |
83.845 |
|
|
16.52
% |
15.76
% |
22.95
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
53.575 |
53.575 |
|
(b) Reserves & Surplus |
|
342.036 |
184.059 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.053 |
0.037 |
|
Total
Shareholders’ Funds (1) + (2) |
|
395.664 |
237.671 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
106.230 |
70.150 |
|
(b) Deferred tax liabilities
(Net) |
|
1.203 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
2.044 |
0.908 |
|
Total
Non-current Liabilities (3) |
|
109.477 |
71.058 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
0.000 |
0.000 |
|
(c) Other current liabilities |
|
186.609 |
163.487 |
|
(d) Short-term provisions |
|
9.527 |
24.791 |
|
Total
Current Liabilities (4) |
|
196.136 |
188.278 |
|
|
|
|
|
|
TOTAL |
|
701.277 |
497.007 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
42.629 |
24.699 |
|
(ii) Intangible Assets |
|
0.785 |
1.251 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.299 |
|
(d) Long-term Loan and Advances |
|
22.916 |
18.559 |
|
(e) Other Non-current assets |
|
208.300 |
89.500 |
|
Total
Non-Current Assets |
|
274.630 |
134.308 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
80.868 |
51.437 |
|
(d) Cash and cash equivalents |
|
323.923 |
307.377 |
|
(e) Short-term loans and
advances |
|
14.883 |
2.763 |
|
(f) Other current assets |
|
6.973 |
1.122 |
|
Total
Current Assets |
|
426.647 |
362.699 |
|
|
|
|
|
|
TOTAL |
|
701.277 |
497.007 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
717.508 |
422.275 |
|
|
Other Income |
|
1.382 |
0.301 |
|
|
TOTAL
|
|
718.890 |
422.576 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
|
324.991 |
155.717 |
|
|
Other expenses |
|
101.372 |
71.567 |
|
|
TOTAL |
|
426.363 |
227.284 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
292.527 |
195.292 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
39.226 |
19.550 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
253.301 |
175.742 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
8.394 |
4.267 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
244.907 |
171.475 |
|
|
|
|
|
|
|
Less |
TAX |
|
86.913 |
60.242 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
157.994 |
111.233 |
|
|
|
|
|
|
|
Share
of profit (loss) of associates |
|
0.000 |
(2.415) |
|
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS)
FOR PERIOD FROM CONTINUING OPERATIONS |
|
(0.016) |
(0.020) |
|
|
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS)
FOR PERIOD |
|
157.978 |
108.798 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
29.49 |
33.8 |
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 |
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF AFFAIRS
& FUTURE OUTLOOK:
Post the 2010 Andhra Pradesh crisis, the timely intervention of regulators, the emergence of self-regulatory body (MFIN) and the micro finance credit bureau have considerably supported the growth of micro finance industry. The sector saw a remarkable growth of above 80% in the past couple of years.
The announcement by Government of India on 8th November, 2016, to demonetize 500 and 1,000 specified bank notes (SBN) and the prolonged cash shortages in the weeks that followed, created significant disturbance in Micro finance sector which hitherto was largely cash driven. While the fresh disbursements are yet to reach pre-demonetization, the delinquency rose from below 1.00 % in September, 2016 to a peak of 20.9% in March 2017.
Most of the states have witnessed a recovery in the month of March 2017, but Uttar Pradesh (UP), Maharashtra, Karnataka and Madhya Pradesh have not shown any signs of recovery resulting in no fresh disbursement in these states. However, the impact was very minimal in Tamil Nadu and Kerala which account for more than 75 percent of our portfolio. It is a matter of satisfaction that your Company’s performance has been better than the industry as depicted by the figures below.
The Company will make all out effort to maintain this position and improve upon further.
The Micro Finance Industry has a total loan portfolio of INR 1600000.000 Million. including SHG-Bank linkage program. The portfolio sourced under Business Correspondent model (BC) exceeds INR 50000.000 Million. The Director s state that, New opportunity along with its fully owned subsidiary IASC has emerged as a prominent player in this segment and has a managed portfolio in excess of 8000.000 Million as on 31st of March 2017.
GROWTH STRATEGY
The last quarter of 2016-17 was a turbulent period. Post the demonetization, the industry witnessed a sharp increase in Delinquency and sharp decline in fresh disbursements resulting in de-growth of loan book which was expected in a sector which is 90% cash intensive. In this turbulent period, all the concerned stakeholders of the Industry have come together and aligned with the MFIN (SRO) to defuse the crisis.
They believe the recovery will be slow and gradual. They had entered into Karnataka and Kerala states while extending their presence in Tamilnadu and Maharashtra in the second half of 2016-17. The existing infrastructure is capable of handling over INR 12000.000 Million. of loan portfolio. In this background, they will consolidate and grow in their existing locations and focus on improving our IT platform which will enable cash less transactions in future.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Bonds/debentures |
44.000 |
0.000 |
|
(Debentures represents 17.08% 440 non-convertible debentures of 100000/- each issued for cash at par . the debentures as on 31.3.2017 are redeemed at par at the end of 29 months) |
|
|
|
Loans and advances from directors |
30.100 |
37.100 |
|
Other loans and advances |
18.794 |
0.000 |
|
|
|
|
|
Total |
92.894 |
37.100 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Furniture and fixtures
- Office equipment
- Computer equipments
- Leasehold improvements
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 64.13 |
|
|
1 |
INR 89.49 |
|
Euro |
1 |
INR 79.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
NSR |
|
|
|
|
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.