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|
|
MIRA INFORM REPORT
|
Report No. : |
491388 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HAZEL MERCANTILE LIMITED (w.e.f. 09.03.1999) |
|
|
|
|
Formerly Known
As : |
HAZEL MERCANTILE PRIVATE LIMITED |
|
|
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|
Registered
Office : |
181, Ashoka Shopping Centre, 2nd Floor, G.T. Hospital
Complex, L.T. Road, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22- 2261 0282 / 4009 8900 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
16.10.1995 |
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|
|
|
Com. Reg. No.: |
11-093674 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 324.960 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1995PLC093674 |
|
|
|
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IEC No.: |
0396030441 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH05177E /
MUMH04309E |
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GSTIN : |
Not Divulged |
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|
|
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PAN No.: [Permanent Account No.] |
AAACH2671K |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is in the business of Imports, Exports, Trading
and Distribution of Chemicals, Metals, Sheets, Paper, Pharmaceutical
products, Paper products, Natural Rubber, Computer Software Development and
Electricity Generation etc. (Registered activity) |
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|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1995 and it is in the business of Imports, Exports, Trading and Distribution of Chemicals, Metals, Sheets, Paper, Pharmaceutical products, Paper products, Natural Rubber, Computer Software Development and Electricity Generation etc. Management has failed to file its financials with
Registrar of Companies for the FY 2017. As per the available financial records of 2016, revenue of the company
has marginally declined by 1.40% and has reported low profit margin of 0.31%
during the year under review. The company’s sound financial profile is supported by its adequate net
worth base along with above average debt coverage indicators and average
liquidity position. Rating continue to reflect the extensive experience of the promoters
in the trading business supported by company’s sound distribution network and
strong relationship with several key suppliers and customers. However, rating strength is partially offset by the susceptibility of
operating performance to volatility in commodity prices and foreign exchange
rates. Business is active. Payments seems to be regular. In view of aforesaid, the company can be considered good for normal
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.
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 09.02.2018
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 BY
|
Name : |
Mr. Rohan |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-22610282 |
|
Date : |
08.02.2018 |
LOCATIONS
|
Registered Office : |
181, Ashoka Shopping Centre, 2nd Floor, G.T. Hospital
Complex, L.T. Road, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22610282 / 43512000 / 22610262 / 22824444 |
|
Fax No.: |
91-22-22620553 / 22824440 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
300 sq. ft. |
|
Location : |
Commercial |
|
|
|
|
Head Office : |
Office No.4, 1st Floor, Naitik Gandhidham Unas Association,
|
|
Tel. No.: |
91-283-6229548 |
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|
|
|
Corporate Office 1 : |
701/712A, Embassy Centre, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22824444/ 40098900 |
|
Fax No.: |
91-22-22824440/ 22041411 |
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E-Mail : |
|
|
|
|
|
Corporate Office 2 : |
Veritas House, 70 Mint Road, Fort, Mumbai – 400001, Maharashtra India |
|
Tel. No.: |
91-22-22755555 / 61840000 |
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Fax No.: |
91- 22-22755556 / 61840001 |
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E-Mail : |
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Marketing Office : |
1410, Maker Chambers V, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-22832170 (5 Lines) |
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Fax No.: |
91-22-22821605 |
|
E-Mail : |
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|
|
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Branch Office 1 : |
SEZ
Office: Shed No.250, sector III, KSEZ, Kandla, Gandhidham, |
|
E-Mail : |
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Branch Offices : |
Also Located at: · Agartala · Ahmedabad · Bhopal · Chennai · Cochin · Daman · Delhi · Faridabad · Hyderabad · Jaipur · Kakinada · Kolkata · Mumbai · Nagpur · Surat · Silvassa · Vapi |
DIRECTORS
As on 31.03.2017
|
Name : |
Mrs. Sushmadevi Deendayal Didwania |
|
Designation : |
Director |
|
Address : |
172, Kshitij, 47, Napeansea Road, Mumbai - 400036,
Maharashtra, India |
|
Date of Birth/Age : |
13.09.1955 |
|
Qualification : |
BA |
|
Date of Appointment : |
01.04.1997 |
|
PAN No.: |
AAIPD6340E |
|
DIN No.: |
00210240 |
|
|
|
|
Name : |
Mr. Nitinkumar Dindayal Didwania |
|
Designation : |
Managing Director |
|
Address : |
172, Kshitij, 47, Nepeansea Road, Mumbai - 400036, Maharashtra, India |
|
Date of Birth/Age : |
23.06.1974 |
|
Qualification : |
M.Com |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AACPD7055J |
|
DIN No.: |
00210289 |
|
|
|
|
Name : |
Mr. Saurabh Dipak Sanghvi |
|
Designation : |
Director |
|
Address : |
66, Kamal Building, 69, Walkeshwar Road, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
05.08.1974 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
02000411 |
|
|
|
|
Name : |
Mrs. Kamala Rahul Aitha |
|
Designation : |
Director |
|
Address : |
C/5/2, Kripa Nagar, S. V. Road Irla, Vile Parle West, Mumbai - 400056, Maharashtra, India |
|
Date of Appointment : |
25.05.2017 |
|
DIN No.: |
07832519 |
KEY EXECUTIVES
|
Name : |
Mr. Lalit Ashok Karne |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 402, Royal Manikaran Residency, Mahavir H Krishna Nagar, Section-25 Ulhasnagar – 421004, Maharashtra, India |
|
Date of Appointment : |
05.06.2017 |
|
PAN No.: |
BRGPK8019R |
|
|
|
|
Name : |
Mr. Sweta Vinay Fernandes |
|
Designation : |
Chief Finance Officer |
|
Address : |
Room No.15, Khattav Building, 8 Marine Street Alkash
Dinesh Mody Marg, Fort, Mumbai – 400023, Maharashtra, India |
|
Date of Appointment : |
01.11.2017 |
|
PAN No.: |
AAKPU3782B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Nitin Kumar Didwania |
|
32491600 |
|
Sushmadevi
Didwania |
|
900 |
|
Hetal Sanghvi |
|
100 |
|
Ajay Jain |
|
200 |
|
Yash Gala |
|
200 |
|
Saurabh Sanghvi |
|
200 |
|
Sanjay Busa |
|
2800 |
|
Total |
|
32496000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
99.99 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the business of Imports, Exports, Trading and
Distribution of Chemicals, Metals, Sheets, Paper, Pharmaceutical products,
Paper products, Natural Rubber, Computer Software Development and Electricity
Generation etc. (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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Imports : |
Not Divulged |
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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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Facilities : |
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Auditors : |
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|
Name : |
Shabbir and Rita Associates LLP Chartered Accountants |
|
Address : |
Office No. 8, 63, Narayan Niwas, 1st Floor, Aarey Road, Goregaon (West), Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACOFS3938D |
|
|
|
|
Secretarial Audit
Report : |
|
|
Name : |
Mansi Damania and Associates |
|
Address : |
ALTPD4959M |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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Subsidiary company
: |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
U99999MH1994PTC082808
U74900MH1994PLC082813
U74900MH2005PTC151366
U70100MH2006PTC161465
U45202MH2011PTC211769
U74900MH2005PTC151378
U70109MH2011PTC213831
U63090MH2006PTC161463
U51909MH2005PTC154481
U51900MH1996PLC104099
U45202MH2008PLC182355 |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50100000 |
Equity Shares |
INR 10/- each |
INR 501.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32496000 |
Equity Shares |
INR 10/- each |
INR 324.960
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET – (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
324.960 |
324.960 |
324.960 |
|
(b) Reserves and Surplus |
5775.515 |
5839.086 |
5835.834 |
|
(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) |
6100.475 |
6164.046 |
6160.794 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
22.703 |
7.554 |
13.596 |
|
(b) Deferred tax liabilities (Net) |
23.152 |
35.164 |
40.471 |
|
(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) |
45.855 |
42.718 |
54.067 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1429.559 |
1191.689 |
1142.299 |
|
(b) Trade
payables |
8233.751 |
9360.246 |
7736.812 |
|
(c) Other current
liabilities |
201.797 |
223.308 |
91.489 |
|
(d) Short-term
provisions |
19.621 |
15.420 |
12.203 |
|
Total Current
Liabilities (4) |
9884.728 |
10790.663 |
8982.803 |
|
|
|
|
|
|
TOTAL |
16031.058 |
16997.427 |
15197.664 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
272.380 |
147.574 |
163.084 |
|
(ii)
Intangible Assets |
698.751 |
1397.502 |
2096.253 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
48.405 |
17.230 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
328.196 |
328.765 |
359.010 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1299.327 |
1922.246 |
2635.577 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4454.534 |
5602.338 |
3666.466 |
|
(c) Trade
receivables |
9157.614 |
8315.995 |
7979.019 |
|
(d) Cash and
bank balances |
506.260 |
516.524 |
399.981 |
|
(e)
Short-term loans and advances |
613.323 |
640.324 |
516.621 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
14731.731 |
15075.181 |
12562.087 |
|
|
|
|
|
|
TOTAL |
16031.058 |
16997.427 |
15197.664 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
35386.458 |
35890.365 |
30981.541 |
|
|
Other Income |
251.219 |
248.744 |
137.722 |
|
|
TOTAL |
35637.677 |
36139.109 |
31119.263 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
32270.164 |
35874.366 |
30204.448 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1147.804 |
(1935.872) |
(911.608) |
|
|
Employee benefit expense |
123.437 |
97.482 |
69.884 |
|
|
CSR expenditure |
3.689 |
0.000 |
0.000 |
|
|
Other expenses |
930.317 |
886.700 |
696.552 |
|
|
TOTAL |
34475.411 |
34922.676 |
30059.276 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1162.266 |
1216.433 |
1059.987 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
306.417 |
289.817 |
209.846 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
855.849 |
926.616 |
850.141 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
725.945 |
715.366 |
716.672 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
129.904 |
211.250 |
133.469 |
|
|
|
|
|
|
|
Less |
TAX |
19.636 |
32.645 |
3.205 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
110.268 |
178.605 |
130.265 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
8865.033 |
7115.456 |
5034.906 |
|
|
Freight Insurance and
Commission |
0.000 |
13.762 |
25.808 |
|
|
Dividend |
195.548 |
174.525 |
57.98 |
|
|
TOTAL
EARNINGS |
9060.581 |
7303.743 |
5118.694 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Traded Goods |
17315.936 |
22186.848 |
15731.886 |
|
|
TOTAL IMPORTS |
17315.936 |
22186.848 |
15731.886 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.39 |
5.50 |
4.01 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
11.235 |
6.043 |
6.043 |
|
Net cash flows from (used in) operations |
102.020 |
336.612 |
(52.330) |
|
Net cash flows from (used in) operating activities |
68.793 |
290.179 |
(78.679) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
94.46 |
84.57 |
94.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.86 |
4.32 |
3.88 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
93.13 |
95.23 |
93.49 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.26 |
0.22 |
0.29 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.20 |
0.76 |
0.47 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.62 |
0.64 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.24 |
0.20 |
0.19 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.62 |
1.75 |
1.46 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.16 |
0.26 |
0.37 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.79 |
4.20 |
5.05 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.31 |
0.50 |
0.42 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.69 |
1.05 |
0.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
1.81 |
2.90 |
2.11 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.49 |
1.40 |
1.40 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.04 |
0.88 |
0.99 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.38 |
0.36 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.50 |
3.71 |
3.58 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.49 |
1.40 |
1.40 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
324.960 |
324.960 |
324.960 |
|
Reserves & Surplus |
5835.834 |
5839.086 |
5775.515 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6160.794 |
6164.046 |
6100.475 |
|
|
|
|
|
|
Long Term borrowings |
13.596 |
7.554 |
22.703 |
|
Short Term borrowings |
1142.299 |
1191.689 |
1429.559 |
|
Current Maturities of Long term debt |
6.043 |
6.043 |
11.235 |
|
Total
borrowings |
1161.938 |
1205.286 |
1463.497 |
|
Debt/Equity
ratio |
0.189 |
0.196 |
0.240 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
30981.541 |
35890.365 |
35386.458 |
|
|
0.000 |
15.844 |
(1.404) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
30981.541 |
35890.365 |
35386.458 |
|
Profit/ (Loss) |
130.265 |
178.605 |
110.268 |
|
|
0.42
% |
0.50
% |
0.31
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
324.960 |
324.960 |
|
(b) Reserves & Surplus |
|
13436.474 |
11631.296 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Deferred government grants |
|
0.000 |
2.606 |
|
Total
Shareholders’ Funds (1) + (2) |
|
13761.434 |
11958.862 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
283.281 |
336.151 |
|
(b) Deferred tax liabilities
(Net) |
|
23.152 |
35.164 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
306.433 |
371.315 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
4525.172 |
6439.693 |
|
(b) Trade payables |
|
11084.105 |
12098.484 |
|
(c) Other current liabilities |
|
364.451 |
378.787 |
|
(d) Short-term provisions |
|
38.219 |
15.420 |
|
Total
Current Liabilities (4) |
|
16011.947 |
18932.384 |
|
|
|
|
|
|
TOTAL |
|
30079.814 |
31262.561 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
775.724 |
655.380 |
|
(ii) Intangible Assets |
|
941.408 |
1639.858 |
|
(iii) Capital work-in-progress |
|
14.085 |
48.406 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
9.433 |
10.502 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
1740.650 |
2354.146 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
4935.521 |
7874.123 |
|
(c) Trade receivables |
|
20018.241 |
18153.491 |
|
(d) Cash and cash equivalents |
|
856.407 |
1473.861 |
|
(e) Short-term loans and
advances |
|
2528.995 |
1406.940 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
28339.164 |
28908.415 |
|
|
|
|
|
|
TOTAL |
|
30079.814 |
31262.561 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
83715.120 |
82826.874 |
|
|
Other Income |
|
91.644 |
77.500 |
|
|
TOTAL
|
|
83806.764 |
82904.374 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
0.000 |
0.000 |
|
|
Purchases of Stock-in-Trade |
|
75103.162 |
81197.990 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
2938.602 |
(3385.097) |
|
|
Employees benefits expense |
|
341.855 |
281.328 |
|
|
Other expenses |
|
2100.089 |
1881.237 |
|
|
TOTAL |
|
80483.708 |
79975.458 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
3323.056 |
2928.916 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
682.520 |
509.927 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
2640.536 |
2418.989 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
765.594 |
751.115 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
1874.942 |
1667.874 |
|
|
|
|
|
|
|
Less |
TAX |
|
37.539 |
32.893 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
1837.403 |
1634.981 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
56.63 |
50.31 |
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) |
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION:
The Company is in the business of Imports, Exports, Trading and Distribution of Chemicals, Metals, Sheets, Paper, Pharmaceutical products, Paper products, Natural Rubber, Computer Software Development and Electricity Generation etc.
PERFORMANCE REVIEW
The following are the
figures and comparison of the operation of the Company: -
Standalone:
Standalone revenue from operations of INR 35386.458 Million as compared to previous year of INR 35890.365 Million. Standalone Profit after Tax of INR 110.268 Million as compared to previous year of INR 178.605 Million.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
Industry Structure
and Development
The Company is engaged in the business of imports, export, trading and distribution of poly chemicals, metals and other products. The Company is also engaged in the generation of wind energy. Even though global economic activity has displayed the sign of improvement and domestic economy is showing signs of improvement.
Chemical Industry
Chemicals have become essential part of modern day life as it is widely used in a variety of products. In 1971 the global chemical output was estimated at a value of about $171 billion and is estimated to have increased to about $3.9 trillion.
The Chemical Industry has a vital role to play for the development of any Economy. Product from the Chemical Industry have improved the quality of life world over and contributed significantly to everyone's day-to-day requirements. Industry is cautiously optimistic about future growth prospects.
Industry experts believe that demand for Chemical products continues to rise in India in the year 2016-17. It is expected that the Company will also increase its turnover in the coming financial year 2016-17.
Chemical Industry in India has graduated from manufacturing principal chemicals in a highly regulated market to being a mature industry in a liberalized economy. In India the chemical industry is among the fastest growing Industry. The bulk of chemicals produced in India comprise either upstream products or intermediates, which go into a variety of manufacturing applications including fertilizers, pharmaceuticals, textiles and plastics, agrochemicals, paints and dyes etc.
With Asia's growing contribution to the global chemical industry, India has emerged as one of the focused destinations for chemical companies worldwide.
With ease of doing business initiative of Government and pro-business active support would make business environment more vibrant paving ways for faster approval, sanction and execution of projects.
It is expected that the Company will increase its turnover in the coming financial year 2016-2017. The Company also has a well developed and robust logistic and marketing network which affords the buyers in the multiple choices of chemical products at reasonably competitive rates.
OUTLOOK
The management is quite positive on its outlook in terms of revenue in the coming period as economies all over the world are slowly recovering and it is expected that the global markets will respond well to the products traded by the Company. With beginning of the re-emergence of healthy economic environment, barring unforeseen circumstances, the Company is optimistic and confident to receive more demands and given the current financial performance of the Company; the Board is confident in its outlook for future that the Company shall grow sizably over and above its demonstrated growth in terms of turnover and profits.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
358.472 |
124.692 |
|
Total |
358.472 |
124.692 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
A78104643 |
10198433 |
PUNJAB NATIONAL BANK |
12/01/2010 |
- |
- |
42300000.0 |
FORESHORE ROAD BRANCH, RAHEJA CHAMBERS,NARIMAN POINTMUMBAIMH400021IN |
|
2 |
C15033327 |
80027453 |
PUNJAB NATIONAL BANK (LEAD BANK) |
21/10/2004 |
16/07/2014 |
- |
10800000000.0 |
FORESHORE ROAD BRANCH, RAHEJA CHAMBERS,NARIMAN POINT,MUMBAIMH400021IN |
|
3 |
G43116714 |
10545656 |
PUNJAB NATIONAL BANK |
24/12/2014 |
- |
28/04/2017 |
300000000.0 |
FORESHORE ROAD BRANCH, RAHEJA CHAMBERS,NARIMAN POINT,MUMBAIMH400021IN |
|
4 |
G43115633 |
100033806 |
Punjab National Bank |
19/05/2016 |
- |
28/04/2017 |
300000000.0 |
Foreshore Road Branch, Raheja ChambersNariman Point Mumbai-21MumbaiMH400021IN |
|
5 |
C41201773 |
10478219 |
PUNJAB NATIONAL BANK |
23/01/2014 |
- |
20/01/2015 |
500000000.0 |
FORESHORE ROAD BRANCH,RAHEJA CHAMBERSNARIMAN POINTMUMBAIMH400021IN |
|
6 |
B95626875 |
90157443 |
THE NEDUNGADI BANK LTD |
16/03/2000 |
- |
28/01/2014 |
19000000.0 |
265; BIRYA HOUSEBAZARGALE STREET; FORTMUMBAIMH400001IN |
|
7 |
B95629895 |
90157901 |
PUNJAB NATINAL BANKL |
23/03/2002 |
17/12/2003 |
28/01/2014 |
165000000.0 |
NARIMAN POINTMUMBAIMH400021IN |
|
8 |
B95629085 |
10133042 |
PUNJAB NATIONAL BANK |
24/11/2008 |
17/12/2009 |
28/01/2014 |
500000000.0 |
FORESHORE ROAD BRANCH, RAHEJA CHAMBERS,NARIMAN POINT,MUMBAIMH400021IN |
|
9 |
B95630455 |
10117924 |
PUNJAB NATIONAL BANK |
02/08/2008 |
- |
28/01/2014 |
1750000000.0 |
FORESHORE ROAD BRANCH, RAHEJA CHAMBERS,NARIMAN POINTMUMBAIMH400021IN |
|
10 |
B94494960 |
10140989 |
3i Infotech Trusteeship Services Limited |
03/02/2009 |
- |
14/01/2014 |
121600000.0 |
3rd to 6th floor, International Infotech Park,Tower No.5, Vashi Railway Station Complex, VashiNavi MumbaiMH400703IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Guarantees |
5103.840 |
7588.152 |
|
Other money for which company is contingently liable |
63.086 |
102.559 |
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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 : |
SLK |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
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.