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|
MIRA INFORM REPORT
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Report No. : |
491246 |
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Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SYRMA TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 601, 6th Floor, Floral Deck Plaza,
MIDC, Andheri (East), Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-40363000 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
23.08.2004 |
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Com. Reg. No.: |
11-148165 |
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Capital
Investment / Paid-up Capital : |
INR 82.000 Million |
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CIN No.: [Company Identification
No.] |
U30007MH2004PTC148165 |
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IEC No.: |
3804000142 |
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GSTIN/UIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAICS5745D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Designers, Manufacturers, Assemblers, Distributors and Dealers in memory
chips, memory modules, PCB assemblies and other computer hardware and
peripherals including floppy disc drives hard disk drives, voice coils,
antenna coils, smart card and radio frequency identification devices etc. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied 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 : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Tancon Electronics Private Limited”, India. The company was incorporated in the year 2004. For the financial year 2017, the revenue of the company has decreased by 42.18% but has managed to maintain average profit margin of 1.24%. The sound financial profile of the company is marked by adequate networth base along with negligible debt level. Rating takes into consideration equity infused by its promoters. Rating also takes into consideration strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. Business is active. Payment terms are seems to be usually correct. In view of aforesaid, the company can be considered for business dealings with usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities= BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
13.07.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities= A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
13.07.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 10.02.2017.
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.: 91-22-40363000)
LOCATIONS
|
Registered Office : |
Unit No. 601, 6th Floor, Floral Deck Plaza,
MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-40363000 |
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Fax No.: |
91-22-28291176 |
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E-Mail : |
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Website : |
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Factory : |
Plot No.B27, Phase II, Zone B, MEPZ-SEZ, Tambaram, Chennai – 600045,
Tamilnadu, India |
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Tel. No.: |
91-44-71728600 (Main) 91-44-71728601 (Sales) 91-44-71728654 (HR India) |
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Fax No.: |
91-44-71728612 |
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|
|
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Overseas Offices : |
Located at: ·
United States ·
Europe ·
Singapore |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vikram Chopra |
|
Designation : |
Whole-Time Director |
|
Address : |
1702, Glen Classic Cliff Avenue, Hiranandani Gardens, Powai,
Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
15.01.1969 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
00311827 |
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|
|
|
Name : |
Mr. Sandeep Tandon |
|
Designation : |
Director |
|
Address : |
37, Merry Niketan, Mount Mary Road, Bandra (West), Mumbai-400050,
Maharashtra, India |
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Date of Birth/Age : |
17.05.1969 |
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Date of Appointment : |
29.12.2004 |
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PAN No: |
AAAPT5592B |
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DIN No.: |
00054553 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Kumar Nagori |
|
Designation : |
Company Secretary |
|
Address : |
B-14, Building No. 5, Nalanda, Mittal Enclave, Naigaon (East), Vasai, Thane – 401202, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1983 |
|
Date of Appointment : |
18.06.2010 |
|
Pan No.: |
AFSPN5761Q |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Tancom Electronics Private Limited, India |
697900 |
|
Tancom Electronics, A Partnership firm |
2100 |
|
Total |
700000 |
|
Names of Shareholders (0.1% cumulative nonconvertible redeemable
Preference Shares) |
No. of Shares |
|
Sandeep Tandon |
750000 |
|
|
|
|
Total |
750000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
99.70 |
|
Promoters [Others
- Firm] |
0.30 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Designers, Manufacturers, Assemblers, Distributors and Dealers in memory
chips, memory modules, PCB assemblies and other computer hardware and
peripherals including floppy disc drives hard disk drives, voice coils,
antenna coils, smart card and radio frequency identification devices etc. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers (As on 2016) |
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Facilities : |
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Auditors : |
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|
Name : |
R. Subramanian and Company Chartered Accountants |
|
Address : |
New No. 6, Old No. 36, Krishnaswamy Avenue, Luz, Mylapore, Chennai – 600004, Tamilnadu, India |
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PAN No.: |
AAAFR0602F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
· Tancom Electronics Private Limited [CIN No. U32107MH1988PTC047729] |
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|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
· Syrma Tech Singapore Private Limited · Tis International Inc,USA · Memory Electronics Private Limited · Infinx Services Private Limited · Reliable Consultancy Services Private Limited · Tassel Trading Company Limited · Syrma Services And Solutions Private Limited · Tancom Electronics (Firm) · M L Tondon and Sons HUF · Advance Power Devices Private Limited · Ballast Trading Company Private Limited · Delta Computer Prints Private Limited · Hybrid Agricultural Limited · Media Electronics Limited · Titus Trading And Agencies Limited · Tranquil Trading Company Limited · Vedacom (India) Private Limited · Golden Computers Limited |
|
|
|
|
Other related
parties: |
· 3G Wireless Communications Private Limited · Tovya Automation Private Limited |
CAPITAL STRUCTURE
AFTER 25.09.2017
Authorised Capital : INR
175.500 Million
Issued, Subscribed & Paid-up Capital : INR
97.021 Million
AS ON 25.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
INR 10/- each |
INR 35.000 Million |
|
900000 |
Preferences Shares |
INR 100/- each |
INR 90.000 Million |
|
|
|
|
|
|
|
Total
|
|
INR
125.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Share |
INR 10/- each |
INR 7.000 Million |
|
750000 |
Preferences Shares |
INR 100/- each |
INR 75.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 82.000
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
82.000 |
75.250 |
75.250 |
|
(b) Reserves and Surplus |
284.164 |
270.059 |
243.886 |
|
(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) |
366.164 |
345.309 |
319.136 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
273.239 |
231.525 |
100.111 |
|
(b) Deferred tax liabilities (Net) |
25.203 |
20.057 |
15.422 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.405 |
5.170 |
2.153 |
|
Total Non-current
Liabilities (3) |
304.847 |
256.752 |
117.686 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
103.445 |
231.840 |
212.276 |
|
(b) Trade
payables |
445.064 |
417.907 |
363.556 |
|
(c) Other
current liabilities |
271.826 |
70.231 |
48.418 |
|
(d) Short-term
provisions |
6.201 |
5.276 |
4.705 |
|
Total Current
Liabilities (4) |
826.536 |
725.254 |
628.955 |
|
|
|
|
|
|
TOTAL |
1497.547 |
1327.315 |
1065.777 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
269.583 |
175.117 |
166.879 |
|
(ii)
Intangible Assets |
67.346 |
72.178 |
4.027 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
71.773 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term
loans and advances |
25.353 |
6.414 |
6.051 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
362.282 |
253.709 |
248.730 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
326.221 |
348.303 |
360.606 |
|
(c) Trade
receivables |
536.605 |
547.489 |
271.049 |
|
(d) Cash and bank
balances |
75.112 |
55.175 |
61.177 |
|
(e)
Short-term loans and advances |
197.327 |
122.639 |
124.215 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1135.265 |
1073.606 |
817.047 |
|
|
|
|
|
|
TOTAL |
1497.547 |
1327.315 |
1065.777 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1492.124 |
2580.739 |
2490.774 |
|
|
Other Income |
55.422 |
59.496 |
29.089 |
|
|
TOTAL |
1547.546 |
2640.235 |
2519.863 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
838.420 |
2001.010 |
2086.822 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(4.486) |
1.314 |
(15.632) |
|
|
Employee benefit expense |
145.554 |
131.663 |
128.745 |
|
|
Other expenses |
479.179 |
410.818 |
256.231 |
|
|
TOTAL |
1458.667 |
2544.805 |
2456.166 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
88.879 |
95.430 |
63.697 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
33.839 |
35.547 |
12.553 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
55.040 |
59.883 |
51.144 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
29.234 |
20.799 |
20.176 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
25.806 |
39.084 |
30.968 |
|
|
|
|
|
|
|
Less |
TAX |
7.280 |
12.911 |
4.045 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
18.526 |
26.173 |
26.923 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
- Basic |
26.47 |
49.85 |
51.28 |
|
|
- Diluted |
26.47 |
37.39 |
38.46 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
13.605 |
8.298 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
256.856 |
(90.073) |
(29.381) |
|
Net cash flows from (used in) operating activities |
253.613 |
(101.916) |
(29.381) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
131.26 |
77.43 |
39.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.78 |
4.71 |
9.19 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
193.76 |
76.23 |
63.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.27 |
0.27 |
0.18 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.26 |
0.39 |
0.26 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.73 |
0.73 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.03 |
1.38 |
1.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.26 |
2.10 |
1.97 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.92 |
0.72 |
0.76 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.63 |
2.68 |
5.07 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
1.24 |
1.01 |
1.08 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.24 |
1.97 |
2.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.06 |
7.58 |
8.44 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.37 |
1.48 |
1.30 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.98 |
1.00 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.26 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.59 |
6.34 |
4.26 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.37 |
1.48 |
1.30 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
75.250 |
75.250 |
82.000 |
|
Reserves & Surplus |
243.886 |
270.059 |
284.164 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
319.136 |
345.309 |
366.164 |
|
|
|
|
|
|
Long-term borrowings |
100.111 |
231.525 |
273.239 |
|
Short term borrowings |
212.276 |
231.840 |
103.445 |
|
Current maturities of
long-term debts |
8.298 |
13.605 |
0.000 |
|
Total
borrowings |
320.685 |
476.970 |
376.684 |
|
Debt/Equity
ratio |
1.005 |
1.381 |
1.029 |
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 |
2490.774 |
2580.739 |
1492.124 |
|
|
|
3.612 |
(42.182) |
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 |
2490.774 |
2580.739 |
1492.124 |
|
Profit/ (Loss) |
26.923 |
26.173 |
18.526 |
|
|
1.08
% |
1.01
% |
1.24
% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
No |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company is shifted from C-1, Udyog Sadan 3, MIDC, Central Road, Andheri (East), Mumbai – 400093, Maharashtra, India to the present address w.e.f 17.07.2012.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
255.406 |
209.179 |
|
|
|
|
|
Total |
255.406 |
209.179 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C51176196 |
10564219 |
RBL Bank Limited |
07/03/2015 |
- |
- |
331400000.0 |
6th Floor, Tower 2b, One Indiabulls Centre 841, S B Marg, Lower Parel (West) Mumbai 400013, Maharashtra, India |
|
2 |
C82246786 |
10063394 |
State Bank of India |
29/06/2007 |
22/02/2016 |
- |
519300000.0 |
SME Branch, 65-A, G.S.T Road, Guindy, Chennai 600032, Tamilnadu, India |
FIXED ASSETS:
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Computer equipments
· Office equipment
Intangible assets
· Computer software
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 63.61 |
|
|
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
RKI |
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.