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|
|
MIRA INFORM REPORT
|
Report No. : |
491329 |
|
Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PMP AUTO COMPONENTS PRIVATE LIMITED (w.e.f. 13.11.2009) |
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Formerly Known
As : |
PMP COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
Peninsula Spenta, Mathuradas Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-66154651 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
01.05.1996 |
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|
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Com. Reg. No.: |
11-099236 |
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Capital
Investment / Paid-up Capital : |
INR 209.332 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MH1996PTC099236 |
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IEC No.: |
0396064761 |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACP7200N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Machine Tools. (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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1996. It is a manufacturer and seller of industrial cutting tools. The product profile includes drills, tool bits, end mills, saws etc. The subject customer’s includes, Tata, Mahindra, Tafe, Hindustan Motors etc. For the financial year 2016, the revenue of the company has increased by 3.59% but has incurred operational loss. The sound financial profile of the company marked by healthy networth base along with negligible debt level. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. However, In April 2009, PCPL and Miranda were amalgamated into PMP Auto Components Private Limited. The company acquired two European companies, Bakony Wiper Systems (2007) and PAL International (2008), engaged in wiper systems manufacturing. PMP became a part of the Ashok Piramal group in 2006. In July 2017, the company sold auto components business to Pricol Group. Business is active. Payments seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. Note: As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources. |
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 |
ICRA |
|
Rating |
Term Loan : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
23.10.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits : A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
23.10.2017 |
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 12.02.2018
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 DECLINED
Management non-cooperative (Tel No.: 91-22-66154651/24912189)
LOCATIONS
|
Registered Office : |
Peninsula Spenta, Mathuradas Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66154651/ 24912189/ 24919581 |
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Fax No.: |
91-22-66154593 |
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E-Mail : |
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|
Website : |
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|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
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Locality : |
Commercial |
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Head Office : |
3rd Floor, Bhagat House, Plot No.5A, Shyam Nagar, Off JVLR,
Jogeshwari (East), Mumbai – 400 060, Maharashtra, India |
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Tel. No.: |
91-22-28381670 |
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Fax No.: |
91-22-28394419 |
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|
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Factory 1 : |
Unit No.27/28, Plot No.7, Udyog Nagar, Goregaon (West),
Mumbai – 400 062, Maharashtra, India |
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Factory 2 : |
K-7, Additional
M.I.D.C. Industrial Area, Satara
– 415 004, Maharashtra |
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Factory 3 : |
903-904, G.I.D.C. Industrial Estate, Ankleshwar – 393 002, Gujarat,
India |
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Tel. No.: |
91-2646-221519/ 252368/ 239707 |
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Fax No.: |
91-2646-251326 |
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Factory 4 : |
Plot No.49, Sec-11,
SIDCUL, Pantnagar, Rudrapur – 263 153, U.S. Nagar, Uttaranchal, India |
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Branch Offices -
Sales & Services : |
Located at : · Delhi · Mumbai · Pune · Chennai · Kolkata · Bengaluru · Vijaywada · Jaipur · Ahmedabad · Indore · Jalandhar |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Harshvardhan Ashok Piramal |
|
Designation : |
Managing Director |
|
Address : |
61-A, Piramal House, Pochkhanawala Road, Worli, Mumbai – 400 025,
Maharashtra, India |
|
Date of Birth/Age : |
27.10.1973 |
|
Date of Appointment : |
18.07.2006 |
|
DIN No.: |
00044972 |
|
|
|
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Name : |
Mr. Nandan Ashok Piramal |
|
Designation : |
Managing Director |
|
Address : |
Cliff,
2nd Floor, 11, Carmichael Road, Mumbai – 400 026, Maharashtra,
India |
|
Date of Birth/Age : |
01.04.1981 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
00045003 |
|
|
|
|
Name : |
Ms. Urvi Ashok Piramal |
|
Designation : |
Director |
|
Address : |
61-A, Piramal House, Pochkhanawala Road, Worli, Mumbai – 400 025,
Maharashtra, India |
|
Date of Birth/Age : |
19.07.1952 |
|
Date of Appointment : |
30.12.1996 |
|
DIN No.: |
00044954 |
|
PAN No.: |
AAJPP8861F |
|
|
|
|
Name : |
Mr.
Chandrasekhar Ramamurthy Kottagajula |
|
Designation : |
Director |
|
Address : |
B/105,
Ambe Green City, Ankleshwar, Bharuch, Ankleshwar – 393 001, Gujarat, India |
|
Date of Birth/Age : |
10.08.1969 |
|
Date of Appointment : |
24.09.2014 |
|
DIN No.: |
06979985 |
|
|
|
|
Name : |
Ms.
Roopali Rajeev Piramal |
|
Designation : |
Director |
|
Address : |
61,
Piramal House, Pochkhanwala Road, Worli, Mumbai – 400025, Maharashtra, India |
|
Date of Appointment : |
05.03.2015 |
|
DIN No.: |
00046245 |
|
|
|
|
Name : |
Mr.
Mahesh Shrikrishna Gupta |
|
Designation : |
Director |
|
Address : |
402,
Ashok House, Beach House CHS, Gandhigram Road, Juhu, Mumbai – 400049,
Maharashtra, India |
|
Date of Appointment : |
05.03.2015 |
|
DIN No.: |
00046810 |
KEY EXECUTIVES
|
Name : |
Mr. Tanmay Pramod Bhat |
|
Designation : |
Company Secretary |
|
Address : |
B/601, New Sneha Shraddha Society, Sunil Nagar, Dombivali (East), Thane 421201, Maharashtra, India |
|
Date of Appointment : |
19.12.2017 |
|
PAN No.: |
AVEPB2623H |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Ashok Piramal
Group Engineering Trust, India Acting
Through its Trustee Urvi A. Piramal |
|
19394747 |
|
Urvi A. Piramal
Jointly with Ashok Piramal Group Engineering Trust, India |
|
4 |
|
Blossom
Mercantile Private Limited, India |
|
663084 |
|
Total |
|
20057835 |
|
Names of Preference Shareholders (1% Non-Cumulative Redeemable Preference Shares) |
|
No. of Shares |
|
Urvi A. Piramal |
|
25439 |
|
Harshvardhan A.
Piramal |
|
4483 |
|
Rajeev A.
Piramal |
|
4653 |
|
Nandan A.
Piramal |
|
4612 |
|
Urvi A. Piramal
jointly with Harshvardhan A. Piramal |
|
17500 |
|
Harshvardhan A.
Piramal jointly with Urvi A. Piramal |
|
15000 |
|
Urvi A. Piramal
jointly with Rajeev A. Piramal |
|
17500 |
|
Rajeev A. Piramal
jointly with Urvi A. Piramal |
|
15000 |
|
Urvi A. Piramal
jointly with Nandan A. Piramal |
|
17490 |
|
Nandan A.
Piramal jointly with Urvi A. Piramal |
|
15010 |
|
Peninsula Land
Limited, India |
|
190 |
|
Aarti Management
Consultancy Private Limited, India |
|
166 |
|
Aditi Management
Consultancy Private Limited, India |
|
167 |
|
Anjoss Trading Private Limited, India |
|
167 |
|
Total
|
|
137377 |
|
Names of Preference Shareholders (10% Cumulative Redeemable
Preference Shares) |
|
No. of Shares |
|
Urvi A. Piramal |
|
737999 |
|
Harshvardhan A.
Piramal jointly with Urvi A. Piramal |
|
1 |
|
Total
|
|
738000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
0.00001994 |
|
Promoters (Others - Trust) |
96.69411978 |
|
Public/Other than promoters (Body corporate) |
3.30586028 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Machine Tools. (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 (From Indirect Sources): |
Located at · Tata · Mahindra · Tafe · Hindustan Motors · Ashok Leyland · New Holland · Escorts · Piaggio · GM ·
FIAT ·
Volvo ·
Suzuki |
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No. of Employees : |
Information denied by the management |
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Bankers : |
· The Saraswat Co-operative Bank Limited, Lower Parel Branch, Orbit Eternia, N M Joshi Marg Lower Parel, Mumbai-400013, Maharashtra, India · IDBI Bank Limited, IDBI Tower WTC Complex Cuff Parade, Mumbai-400005, Maharashtra, India · Axis Bank Limited, CFB Branch, Ground Floor, Bombay Dying Mill Compound, P B Marg, Worli Mumbai-400025, Maharashtra, India · Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade Mumbai-400005, Maharashtra, India ·
Oriental Bank of Commerce, Jash Chambers;
Ground Floor; Sir P M Road, Mumbai-400001, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
Haribhakti and Co. LLP Chartered Accountants |
|
Address : |
705, Leela Business Park, Andheri –Kurla Road, Andheri (East), Mumbai-400059, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFH2010F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates (As on
2017): |
Morarjee Textiles Limited CIN No.: L52322MH1995PLC090643 |
|
|
|
|
Subsidiaries (As on
2017): |
· Miranda Bi-Metal Tools Private Limited CIN No.: U29253MH2011PTC225496 · Thundercloud Technologies (India) Private Limited CIN No.: U72900MH2000PTC125308 · PMP Pal International s.r.o, Czech Republic · PMP Bakony Ablaktoria · PMP Auto Mexico S.A. de C.V, Mexico |
|
|
|
|
Joint Venture (As
on 2017): |
· Miranda Few Tools Private Limited CIN No.: U51909MH2005PTC150968 |
CAPITAL STRUCTURE
After 29.09.2017
Authorised Capital : INR 259.200 million
Issued, Subscribed & Paid-up Capital : INR 201.952
million
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24720000 |
Equity Shares |
INR 10/- each |
INR 247.200 Million |
|
400000 |
0.1 % Non-Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 4.000 Million |
|
800000 |
10% Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 8.000 Million |
|
|
Total |
|
INR 259.200
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20057835 |
Equity Shares |
INR 10/- each |
INR 200.578 Million |
|
137377 |
0.1 % Non-Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 1.374 Million |
|
738000 |
10% Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 7.380 Million |
|
|
Total |
|
INR 209.332
Million |
FINANCIAL DATA
[all figures are
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 |
209.332 |
209.332 |
209.332 |
|
(b) Reserves and Surplus |
1114.255 |
1064.288 |
1129.326 |
|
(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) |
1323.587 |
1273.620 |
1338.658 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
228.180 |
350.300 |
158.500 |
|
(b) Deferred tax liabilities (Net) |
6.398 |
31.404 |
36.518 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
10.013 |
7.521 |
7.450 |
|
Total Non-current
Liabilities (3) |
244.591 |
389.225 |
202.468 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
545.878 |
566.334 |
480.186 |
|
(b) Trade
payables |
234.712 |
219.341 |
171.267 |
|
(c) Other
current liabilities |
241.797 |
261.266 |
247.220 |
|
(d) Short-term
provisions |
11.534 |
9.562 |
7.472 |
|
Total Current
Liabilities (4) |
1033.921 |
1056.503 |
906.145 |
|
|
|
|
|
|
TOTAL |
2602.099 |
2719.348 |
2447.271 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
572.745 |
629.819 |
588.812 |
|
(ii)
Intangible Assets |
39.104 |
53.349 |
17.540 |
|
(iii) Tangible assets
capital work-in-progress |
43.464 |
40.529 |
44.637 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
592.085 |
549.879 |
512.129 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
296.048 |
453.048 |
306.017 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1543.446 |
1726.624 |
1469.135 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
391.512 |
420.530 |
366.240 |
|
(c) Trade
receivables |
354.355 |
360.187 |
349.779 |
|
(d) Cash and
bank balances |
13.183 |
16.920 |
22.198 |
|
(e)
Short-term loans and advances |
299.603 |
195.087 |
239.835 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.084 |
|
Total
Current Assets |
1058.653 |
992.724 |
978.136 |
|
|
|
|
|
|
TOTAL |
2602.099 |
2719.348 |
2447.271 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
1663.427 |
1605.670 |
1514.870 |
|
|
Other Income |
89.075 |
42.724 |
59.588 |
|
|
TOTAL |
1752.502 |
1648.394 |
1574.458 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
802.960 |
813.796 |
705.408 |
|
|
Purchases of
Stock-in-Trade |
88.156 |
96.764 |
107.200 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
24.476 |
(14.964) |
(1.200) |
|
|
Employee benefit expense |
276.626 |
263.711 |
240.822 |
|
|
Other expenses |
374.844 |
357.509 |
312.538 |
|
|
Prior period items |
0.000 |
(4.748) |
0.000 |
|
|
Exceptional items |
0.000 |
0.000 |
37.495 |
|
|
TOTAL |
1567.062 |
1512.068 |
1402.263 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
185.440 |
136.326 |
172.195 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
124.372 |
102.724 |
103.409 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
61.068 |
33.602 |
68.786 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
87.443 |
74.460 |
57.644 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(26.375) |
(40.858) |
11.142 |
|
|
|
|
|
|
|
Less |
TAX |
(25.005) |
1.136 |
3.271 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1.370) |
(41.994) |
7.871 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.11) |
(2.13) |
0.34 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
129.700 |
139.400 |
110.400 |
|
Net cash flows from (used in) operations |
224.179 |
137.321 |
199.945 |
|
Net cash flows from (used in) operating activities |
266.552 |
150.748 |
164.129 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
77.75 |
81.88 |
84.28 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.69 |
4.46 |
4.33 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
96.14 |
87.92 |
76.93 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.47 |
0.32 |
0.47 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.28 |
0.19 |
0.26 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.53 |
0.57 |
0.48 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.68 |
0.83 |
0.56 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.78 |
0.83 |
0.68 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.50 |
0.57 |
0.49 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.49 |
1.33 |
1.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(0.08) |
(2.62) |
0.52 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(0.05) |
(1.54) |
0.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(0.10) |
(3.30) |
0.59 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.02 |
0.94 |
1.08 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.65 |
0.54 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.51 |
0.47 |
0.55 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.32 |
5.04 |
3.58 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.02 |
0.94 |
1.08 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
209.332 |
209.332 |
209.332 |
|
Reserves & Surplus |
1129.326 |
1064.288 |
1114.255 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1338.658 |
1273.620 |
1323.587 |
|
|
|
|
|
|
long-term borrowings |
158.500 |
350.300 |
228.180 |
|
Short term borrowings |
480.186 |
566.334 |
545.878 |
|
Current maturities of
long-term debts |
110.400 |
139.400 |
129.700 |
|
Total
borrowings |
749.086 |
1056.034 |
903.758 |
|
Debt/Equity
ratio |
0.560 |
0.829 |
0.683 |
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 |
1514.870 |
1605.670 |
1663.427 |
|
|
|
5.994 |
3.597 |
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 |
1514.870 |
1605.670 |
1663.427 |
|
Profit/ (Loss) |
7.871 |
(41.994) |
(1.370) |
|
0.52% |
(2.62%) |
(0.08%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
209.332 |
209.332 |
|
(b) Reserves and Surplus |
|
715.273 |
726.405 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.019 |
0.033 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
924.605 |
935.737 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
410.285 |
362.987 |
|
(b) Deferred tax liabilities (Net) |
|
11.429 |
33.835 |
|
(c) Other long-term
liabilities |
|
4.807 |
0.000 |
|
(d) long-term
provisions |
|
10.132 |
7.656 |
|
Total Non-current
Liabilities (3) |
|
436.653 |
404.478 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
658.136 |
645.214 |
|
(b) Trade
payables |
|
619.119 |
521.736 |
|
(c) Other
current liabilities |
|
450.418 |
490.156 |
|
(d) Short-term
provisions |
|
11.708 |
9.706 |
|
Total Current
Liabilities (4) |
|
1739.381 |
1666.812 |
|
|
|
|
|
|
TOTAL |
|
3100.658 |
3007.060 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
788.893 |
760.999 |
|
(ii)
Intangible Assets |
|
40.445 |
55.477 |
|
(iii) Tangible assets
capital work-in-progress |
|
132.532 |
61.937 |
|
(iv)
Intangible assets under development |
|
30.703 |
5.367 |
|
(b) Non-current Investments |
|
0.100 |
50.437 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
111.178 |
71.461 |
|
(e) Other Non-current
assets |
|
0.000 |
0.560 |
|
Total Non-Current
Assets |
|
1103.851 |
1006.238 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.008 |
0.008 |
|
(b)
Inventories |
|
846.047 |
697.605 |
|
(c) Trade
receivables |
|
772.000 |
828.031 |
|
(d) Cash and
bank balances |
|
46.240 |
215.133 |
|
(e)
Short-term loans and advances |
|
332.512 |
260.045 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
1996.807 |
2000.822 |
|
|
|
|
|
|
TOTAL |
|
3100.658 |
3007.060 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
3722.505 |
3735.440 |
|
|
Other Income |
|
83.323 |
60.262 |
|
|
TOTAL |
|
3805.828 |
3795.702 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
2228.672 |
2210.151 |
|
|
Purchases of
Stock-in-Trade |
|
88.156 |
96.764 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(7.613) |
4.433 |
|
|
Employee benefit expense |
|
523.564 |
480.320 |
|
|
Other expenses |
|
760.288 |
690.336 |
|
|
Prior period items |
|
0.000 |
(4.726) |
|
|
TOTAL |
|
3593.067 |
3477.278 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
212.761 |
318.424 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
139.283 |
126.911 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
73.478 |
191.513 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
142.516 |
124.040 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(69.038) |
67.473 |
|
|
|
|
|
|
|
Less |
TAX |
|
(4.045) |
35.015 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(64.993) |
32.458 |
|
|
|
|
|
|
|
|
Minority interest |
|
0.014 |
7.650 |
|
|
|
|
|
|
|
|
Share of profit (loss) of
associates |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
FOR PERIOD |
|
(64.979) |
40.108 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(3.28) |
1.96 |
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 |
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 |
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 |
Yes |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
No |
|
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 |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 106 Peninsula Centre, Dr. S S Rao Road Parel, Mumbai-400012, Maharashtra, India to the present address w.e.f. 31.01.2007
OVERVIEW OF THE COMPANY:
(AS ON 31.03.2016)
The company has 2 divisions viz. Auto Components Division and Cutting Tools Division.
Auto Components
Division:
The Company is engaged in manufacturing and marketing of auto electrical components for OEM, Replacement and Export Markets. PMP Auto has a product range that includes alternators, Starter Motor Kits, Wind Shield Washer Pumps, Oil Pressure Switches and Wiper assemblies.
Cutting Tools
Division (Miranda Tools):
Miranda Tools manufactures HSS toolbits, saws, drills and end mills. With one of the most extensive distribution network in India the company also distributes and sells low alloy saw blades, carbide tipped tools, masonry drills, measuring instruments, power tools, clamps, carbide tools and other industrial tools. Equipped with state of the art technology for producing precision cutting tools conforming to IS, BS, DIN, JIS and ISO standards, Miranda Tools was the first Indian company manufacturing high speed steel tools to have been awarded the ISO 9002:1994 certificate by BVQI for all its products. Miranda Tools has a strong global thrust with its export sales to the UK, Europe, South Africa and the Asia Pacific region.
STATE OF COMPANY’S
AFFAIRS/ BUSINESS REVIEW (AS ON 31.03.2016)
The total income for the financial year ended March 31, 2016 stood at INR 1752.502 Million as against INR 1648.394 Million for the corresponding financial year ended March 31, 2015. The Company incurred a loss from ordinary activities before tax of INR 26.375 Million for the financial year ended March 31, 2016 as against loss of INR 40.858 Million for the financial year ended March 31, 2015. The Company reported a net loss of INR 1.370 Million for the financial year ended March 31, 2016 as against loss of INR 41.994 Million for the financial year ended March 31, 2015.
UNSECURED LOAN
|
PARTICULAR |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
71.880 |
40.620 |
|
Total |
71.880 |
40.620 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G68512755 |
100137155 |
RBL BANK LIMITED |
28/08/2017 |
- |
- |
300000000.0 |
One Indiabulls Centre, Tower 2B, 9th Floor841, Senapati Bapat Marg, Lower Parel Mumbai MAHARASHTRA 400013 INDIA |
|
2 |
G62747019 |
10540606 |
The Saraswat Co-Op Bank Limited |
18/12/2014 |
18/09/2017 |
- |
200000000.0 |
Lower Parel Branch, Orbit Eternia, N M Joshi Marg Lower Parel Mumbai MAHARASHTRA 400013 INDIA |
|
3 |
G60526647 |
10274950 |
The Saraswat Co-op Bank Limited (Lead Banker in Multiple Banking) |
11/02/2011 |
18/09/2017 |
- |
730000000.0 |
Lower Parel Branch, Orbit Eternia, N M Joshi Marg Lower Parel Mumbai MAHARASHTRA 400013 INDIA |
|
4 |
G53470241 |
10242635 |
SARASWAT CO-OPERATIVE BANK LIMITED |
21/09/2010 |
01/09/2017 |
- |
250000000.0 |
Lower Parel Branch, Orbit Eternia, N M Joshi Marg Lower Parel Mumbai MAHARASHTRA 400013 INDIA |
|
5 |
G53032546 |
10242147 |
IDBI Bank Limited |
09/09/2010 |
08/09/2017 |
- |
400000000.0 |
IDBI TOWER WTC COMPLEX CUFF PARADE MUMBAI MAHARASHTRA 400005 INDIA |
|
6 |
G53066718 |
80044569 |
Axis Bank Limited |
21/11/2005 |
08/09/2017 |
- |
80000000.0 |
Axis Bank Limited, CFB Branch, Ground Floor Bombay Dying Mill Compound, P B Marg, Worli Mumbai MAHARASHTRA 400025 INDIA |
|
7 |
G53468930 |
10389853 |
Export-Import Bank of India |
07/11/2012 |
- |
12/09/2017 |
150000000.0 |
Centre One Building, Floor 21World Trade Centre Complex, Cuffe Parade Mumbai MAHARASHTRA 400005 INDIA |
|
8 |
G53033940 |
10482589 |
IDBI Bank Limited |
21/02/2014 |
- |
08/09/2017 |
45000000.0 |
CBG BRANCH, 2ND FL, A WING,MITTAL COURT, NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
9 |
G52450129 |
10567657 |
Export Import Bank of India |
05/05/2015 |
- |
04/09/2017 |
352000000.0 |
Centre One Building, Floor 21World Trade Centre Complex, Cuffe Parade Mumbai MAHARASHTRA 400005 INDIA |
|
10 |
G46228094 |
90142058 |
ORIENTAL BANK OF COMMERCE |
09/12/1997 |
- |
05/06/2017 |
95000000.0 |
JASH CHAMBERS; GROUND FLOOR; SIR P M ROAD MUMBAI MAHARASHTRA 400001 INDIA |
FIXED ASSETS
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Furniture and Fixture
·
Office Equipment
·
Vehicles
Intangible Assets
·
Computer Software
WEBSITE DETAILS
NEWS / PRESS RELEASES
PRICOL TO ACQUIRE PMP
AUTO COMPONENTS
MAY 31, 2017
Pricol is acquiring Ashok Piramal Group company PMP Auto Components for an undisclosed amount, as the company looks to expand in Europe and North American markets.
Pricol board has “approved the acquisition of PMP Auto Components,” the auto components maker said in a regulatory filing today.
“Pricol and PMP Auto Components, India have entered into an exclusive and binding agreement for Pricol to acquire the entire ownership interest in wiping systems business of PMP,” the filing said.
Both the parties are working towards “executing definitive documentation and closure of this deal shortly”, it said.
The acquisition will give Pricol access to manufacturing locations in Europe and North America, where it does not have any footprint.
“This will also enable Pricol to manufacture its current product portfolio in these new geographies. With this acquisition, Pricol will increase its presence with the passenger vehicles manufacturers, thereby opening up future cross selling opportunities,” the company said.
PMP, which has a turnover of INR 2500.000 Million, has manufacturing facilities in Czech Republic, Mexico and India.
It supplies components to auto majors such as Volkswagen, Daimler, Fiat, John Deere, Skoda, Audi, Renault and Tata Motors.
“Pricol is acquiring the business as part of a long-term product diversification strategy and believes that wiping systems is a growing product segment with India, Czech Republic and Mexico serving as best cost manufacturing bases,” the company said.
Shares of Pricol were trading up by 1.57 per cent at INR 81 on the BSE.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
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 64.37 |
|
UK Pound |
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·