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MIRA
INFORM REPORT
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Report No. : |
491610 |
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Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRATEEK APPARELS PRIVATE LIMITED |
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Registered
Office : |
#113, Krishna Reddy Industrial Area, 7th Mile, Kudlu Gate,
Hosur Road, Bangalore-560068, Karnataka |
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Tel. No.: |
91-80-42815300 / 5400 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
10.01.1995 |
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Com. Reg. No.: |
08-016925 |
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Capital
Investment / Paid-up Capital : |
INR 210.000 Million |
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CIN No.: [Company Identification
No.] |
U85110KA1995PTC016925 |
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IEC No.: |
Not Divulged |
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GSTIN: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACP7190B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, importer and exporter of garments. [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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1995. It is a manufacturer, exporter and importer of all types of Fabrics, Cotton, Knitted, Dyed etc. Management has failed to file its financial with Registrar of Companies for the FY 2017. For the financial year 2016, the company has reported decline in its revenue as compared to previous year but has managed to maintain low profit margin of 0.32%. The rating takes into consideration the sound financial profile of the company marked by adequate networth base along with comfortable debt coverage indicators. The company has decent earning per share (EPS) of INR 0.30 against the face value (FV) of INR 10. Rating also derives strength from company’s established track record of business. However, rating strength are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
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Rating |
Long term cash credit = BB- |
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Rating Explanation |
Moderate risk of default |
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Date |
28.04.2017 |
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Rating Agency Name |
ICRA |
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Rating |
Short term non fund based limit = A4 |
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Rating Explanation |
Minimal degree of safety and very high
credit risk |
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Date |
28.04.2017 |
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.
.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.:
91-80-42815300)
Tel. No.:91-80-42815301 (Number is continuously
ringing)
LOCATIONS
|
Registered Office : |
#113, Krishna Reddy Industrial Area, 7th Mile, Kudlu Gate,
Hosur Road, Bangalore-560068, Karnataka, India |
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Tel. No.: |
91-80-42815300 / 5400 |
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Fax No.: |
91-80-42815314 |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Pradeep Phulchand Agarwal |
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Designation : |
Director |
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Address : |
Plot No. 4, Villa B, Pochkhanwala Road, Near Godrej Tower, Worli Seaface, Worli, Mumbai-400030, Maharashtra, India |
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Date of Birth/Age : |
27.06.1963 |
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Qualification : |
Graduation |
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Date of Appointment : |
28.02.2007 |
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DIN No.: |
00026779 |
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Other Directorship:
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Name : |
Mr. Sanjay Dalmia |
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Designation : |
Director |
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Address : |
No.B-708, Raheja Residency, 3rd Block, Kormangala, Bangalore-560034, Karnataka, India |
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Date of Birth/Age : |
07.10.1975 |
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Qualification : |
Graduation |
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Date of Appointment : |
14.01.2006 |
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DIN No.: |
01401883 |
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Other Directorship:
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Name : |
Mr. Mahesh Tejpal Birla |
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Designation : |
Director |
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Address : |
Nai Nagari Mandal, Near Balaji Temple, Bhilwara-311403, Rajasthan, India |
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Date of Appointment : |
06.11.2017 |
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DIN No.: |
03578615 |
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Other Directorship:
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Name : |
Mr. Palangat Gopalakrishnan |
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Designation : |
Nominee Director |
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Address : |
#4093, Sobha Daisy, Bellandur Sarjapur Outer Ring Road, Bangalore-560037, Karnataka, India |
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Date of Birth/Age : |
09.01.1950 |
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Qualification : |
Graduation |
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Date of Appointment : |
15.06.2012 |
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DIN No.: |
01594697 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Pranav Gadgil |
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Designation : |
Company Secretary |
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Address : |
#673, 11 B Main, 5th Block Jaya Nagar, Bangalore-560041, Karnataka, India |
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Date of Birth/Age : |
16.01.1987 |
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Qualification : |
CS |
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Date of Appointment : |
24.02.2016 |
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PAN No.: |
AMDPG1700C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Pradeep Agarwal |
|
4070000 |
|
Prateek Agarwal |
|
2380000 |
|
Phulchand Exports Limited, India |
|
9193330 |
|
Phulchand Agarwal |
|
356670 |
|
L N Jhunjhnuwala |
|
100000 |
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Pramod Panduranga Timblo |
|
500000 |
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Networth Trading Pte Limited, Singapore |
|
400000 |
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Bennett Coleman and Company Limited |
|
10 |
|
SIDBI Trustee Company Limited |
|
4000000 |
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Total |
|
21000010 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2016
|
Category |
Percentage |
|
Individual/Hindu Undivided Family - Indian |
32.41 |
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Individual/Hindu
Undivided Family - Bodies corporate |
43.78 |
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Public/Other than promoters - Indian |
2.86 |
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Public/Other than promoters - Foreign national (other than NRI) |
1.90 |
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Public/Other than promoters - Venture capital |
19.05 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, importer and exporter of garments. [Registered Activity] |
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Products : |
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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 declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Shankarlal Jain and Associates Chartered Accountants |
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Address : |
12, Engineer Building, 2nd Floor, Above Parsi Dairy, 265, Princess St, Mumbai-400002, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFS6967Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate Company : |
Whole Wealth Limited, Hong Kong |
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Subsidiary Companies
: |
CIN No.:U05190KA2004PTC034048
CIN No.:U18101KA2007PLC043877 |
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Joint Venture : |
Bilteek Fashions Private Limited, India CIN No.:U18101KA2011PTC057857 |
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Entity controlled
by KMP : |
Phulchand Exports Private Limited |
CAPITAL STRUCTURE
As on 29.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27000000 |
Equity Shares |
INR 10/- each |
INR 270.000 Million |
|
1500000 |
Preference Shares |
INR 100/- each |
INR 150.000 Million |
|
|
Total |
|
INR 420.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21000010 |
Equity Shares |
INR 10/- each |
INR 210.000 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
210.000 |
210.000 |
210.000 |
|
(b) Reserves &
Surplus |
905.370 |
899.041 |
891.939 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
20.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
1115.370 |
1109.041 |
1121.939 |
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.149 |
0.299 |
0.518 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
5.223 |
|
(c) Other long term
liabilities |
53.545 |
9.045 |
67.134 |
|
(d) long-term provisions |
33.372 |
34.782 |
25.654 |
|
Total Non-current
Liabilities (3) |
87.066 |
44.126 |
98.529 |
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
864.967 |
858.574 |
875.602 |
|
(b) Trade payables |
270.778 |
219.878 |
236.024 |
|
(c) Other current
liabilities |
60.209 |
112.211 |
87.790 |
|
(d) Short-term provisions |
6.528 |
4.000 |
2.597 |
|
Total Current Liabilities
(4) |
1202.482 |
1194.663 |
1202.013 |
|
|
|
|
|
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TOTAL |
2404.918 |
2347.830 |
2422.481 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
260.659 |
285.343 |
323.094 |
|
(ii) Intangible Assets |
0.713 |
1.504 |
5.412 |
|
(iii) Capital
work-in-progress |
14.665 |
14.665 |
14.665 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
56.144 |
56.144 |
56.144 |
|
(c) Deferred tax assets
(net) |
5.390 |
6.220 |
0.000 |
|
(d) Long-term Loan and Advances |
574.097 |
555.381 |
354.297 |
|
(e) Other Non-current
assets |
0.845 |
0.770 |
3.873 |
|
Total Non-Current Assets |
912.513 |
920.027 |
757.485 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
11.262 |
11.273 |
11.251 |
|
(b) Inventories |
932.094 |
894.342 |
892.597 |
|
(c) Trade receivables |
482.198 |
482.569 |
539.700 |
|
(d) Cash and cash
equivalents |
0.857 |
0.633 |
187.952 |
|
(e) Short-term loans and
advances |
26.850 |
6.378 |
12.108 |
|
(f) Other current assets |
39.144 |
32.608 |
21.388 |
|
Total Current Assets |
1492.405 |
1427.803 |
1664.996 |
|
|
|
|
|
|
TOTAL |
2404.918 |
2347.830 |
2422.481 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1948.116 |
2019.051 |
2736.072 |
|
|
Other Income |
68.806 |
96.104 |
116.562 |
|
|
TOTAL |
2016.922 |
2115.155 |
2852.634 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
690.869 |
628.903 |
644.263 |
|
|
Purchases of
Stock-in-Trade |
456.154 |
559.805 |
661.862 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(12.467) |
54.504 |
370.675 |
|
|
Employees benefits
expense |
414.528 |
403.274 |
436.096 |
|
|
Extraordinary items |
0.148 |
0.011 |
(0.021) |
|
|
Other expenses |
291.060 |
274.028 |
495.295 |
|
|
TOTAL |
1840.292 |
1920.525 |
2608.170 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
176.630 |
194.630 |
244.464 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
138.142 |
144.457 |
176.879 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
38.488 |
50.173 |
67.585 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
27.453 |
38.934 |
51.071 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
11.035 |
11.239 |
16.514 |
|
|
|
|
|
|
|
Less |
TAX |
4.706 |
(3.009) |
3.803 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
6.329 |
14.248 |
12.711 |
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
899.041 |
891.939 |
879.228 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
Transfer to General
Reserve |
6.329 |
7.146 |
12.711 |
|
|
Total (M) |
6.329 |
7.146 |
12.711 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
899.041 |
899.041 |
891.939 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
144.597 |
131.476 |
224.307 |
|
|
TOTAL EARNINGS |
144.597 |
131.476 |
224.307 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Accessories |
18.674 |
15.798 |
27.636 |
|
|
Raw materials |
7.474 |
10.134 |
52.400 |
|
|
Capital goods and spares |
0.371 |
0.702 |
0.976 |
|
|
TOTAL IMPORTS |
26.519 |
26.634 |
81.012 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.30 |
0.68 |
0.61 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.151 |
0.219 |
0.246 |
|
Net cash flows from (used in) operations |
29.970 |
(100.320) |
158.106 |
|
Net cash flows from (used in) operating activities |
98.130 |
(3.410) |
271.022 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
90.34 |
87.24 |
72.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.04 |
4.18 |
5.07 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
86.17 |
67.51 |
65.96 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.19 |
0.22 |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.64 |
0.65 |
0.71 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.50 |
0.51 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.78 |
0.77 |
0.78 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.08 |
1.08 |
1.07 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.25 |
0.27 |
0.31 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.28 |
1.35 |
1.38 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.32 |
0.71 |
0.46 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.26 |
0.61 |
0.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.57 |
1.28 |
1.13 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.24 |
1.20 |
1.39 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.47 |
0.45 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.46 |
0.47 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.12 |
4.09 |
4.17 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.24 |
1.20 |
1.39 |
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 |
210.000 |
210.000 |
210.000 |
|
Reserves & Surplus |
891.939 |
899.041 |
905.370 |
|
Money received against
share warrants |
20.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1121.939 |
1109.041 |
1115.370 |
|
|
|
|
|
|
long-term borrowings |
0.518 |
0.299 |
0.149 |
|
Short term borrowings |
875.602 |
858.574 |
864.967 |
|
Current Maturities of
Long term debt |
0.246 |
0.219 |
0.151 |
|
Total borrowings |
876.366 |
859.092 |
865.267 |
|
Debt/Equity ratio |
0.781 |
0.775 |
0.776 |
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 |
2736.072 |
2019.051 |
1948.116 |
|
|
|
(26.206) |
(3.513) |
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 |
2736.072 |
2019.051 |
1948.116 |
|
Profit |
12.711 |
14.248 |
6.329 |
|
|
0.46% |
0.71% |
0.32% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
210.000 |
210.000 |
|
(b) Reserves &
Surplus |
|
951.152 |
944.968 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
(3) Minority interest |
|
(0.017) |
0.001 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1161.135 |
1154.969 |
|
|
|
|
|
|
(4) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.149 |
0.299 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
53.545 |
9.045 |
|
(d) long-term provisions |
|
33.371 |
34.782 |
|
Total Non-current
Liabilities (3) |
|
87.065 |
44.126 |
|
|
|
|
|
|
(5) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
864.967 |
858.574 |
|
(b) Trade payables |
|
271.071 |
220.226 |
|
(c) Other current
liabilities |
|
109.946 |
160.770 |
|
(d) Short-term provisions |
|
6.529 |
4.000 |
|
Total Current Liabilities
(4) |
|
1252.513 |
1243.570 |
|
|
|
|
|
|
TOTAL |
|
2500.713 |
2442.665 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
260.973 |
285.870 |
|
(ii) Intangible Assets |
|
0.809 |
1.659 |
|
(iii) Capital
work-in-progress |
|
14.665 |
14.665 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
55.145 |
55.145 |
|
(c) Deferred tax assets
(net) |
|
5.390 |
6.180 |
|
(d) Long-term Loan and Advances |
|
655.890 |
638.961 |
|
(e) Other Non-current
assets |
|
0.845 |
0.771 |
|
Total Non-Current Assets |
|
993.717 |
1003.251 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
11.262 |
11.273 |
|
(b) Inventories |
|
932.093 |
894.342 |
|
(c) Trade receivables |
|
482.198 |
482.569 |
|
(d) Cash and cash
equivalents |
|
0.977 |
0.805 |
|
(e) Short-term loans and
advances |
|
41.322 |
17.816 |
|
(f) Other current assets |
|
39.144 |
32.609 |
|
Total Current Assets |
|
1506.996 |
1439.414 |
|
|
|
|
|
|
TOTAL |
|
2500.713 |
2442.665 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
1948.116 |
2019.051 |
|
|
Other Income |
|
70.515 |
100.646 |
|
|
TOTAL |
|
2018.631 |
2119.697 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
690.869 |
628.903 |
|
|
Purchases of
Stock-in-Trade |
|
456.153 |
559.805 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(12.467) |
54.504 |
|
|
Employees benefits
expense |
|
414.528 |
404.299 |
|
|
Prior period items |
|
0.149 |
-0.104 |
|
|
Other expenses |
|
291.911 |
274.172 |
|
|
TOTAL |
|
1841.143 |
1921.579 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
177.488 |
198.118 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
138.427 |
148.296 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
39.061 |
49.822 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
27.724 |
39.725 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
11.337 |
10.097 |
|
|
|
|
|
|
|
Less |
TAX |
|
5.171 |
0.076 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
6.166 |
10.021 |
|
|
|
|
|
|
|
Add |
Minority
interest |
|
0.018 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) FOR THE
PERIOD |
|
6.184 |
10.021 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
0.29 |
0.48 |
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 |
No |
|
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
0.000 |
21.000 |
|
Total |
0.000 |
21.000 |
INDEX OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B38071353 |
10269595 |
Canara Bank |
07/02/2011 |
29/03/2012 |
- |
1060000000.0 |
Prime Corporate Branch-II, 2nd Floor, Verma Chambers, Homji Street, Fort, Mumbai-400001, Maharashtra, India |
|
2 |
G73771859 |
100060613 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
05/11/2016 |
- |
09/01/2018 |
50000000.0 |
One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai-400001, Maharashtra, India |
|
3 |
C78807971 |
90199821 |
Canara Bank |
27/04/2005 |
- |
29/01/2016 |
9773000.0 |
Fort Branch, Warden House, Mumbai-400001, Maharashtra, India |
|
4 |
C78807245 |
90199839 |
Canara Bank |
05/07/2005 |
- |
29/01/2016 |
12500000.0 |
Fort Branch, Warden House, Mumbai-400001, Maharashtra, India |
|
5 |
C78805835 |
90199853 |
Canara Bank |
30/08/2005 |
09/06/2005 |
29/01/2016 |
15000000.0 |
Fort Branch, Warden House, Mumbai-400001, Maharashtra, India |
|
6 |
C78804853 |
90201050 |
Canara Bank |
19/10/2005 |
- |
29/01/2016 |
4000000.0 |
Fort Branch, Warden House, Mumbai-400001, Maharashtra, India |
|
7 |
C78806544 |
90198617 |
Canara Bank |
05/07/2005 |
- |
29/01/2016 |
12500000.0 |
Fort Branch, Warden House, Mumbai-400001, Maharashtra, India |
|
8 |
C78808649 |
90201018 |
Canara Bank |
27/04/2005 |
- |
29/01/2016 |
9773000.0 |
Fort Branch, Warden House, Mumbai-400001, Maharashtra, India |
|
9 |
C78809100 |
90198507 |
Canara Bank |
10/11/2004 |
- |
29/01/2016 |
35000000.0 |
Fort Branch, Warden House, Mumbai-400001, Maharashtra, India |
|
10 |
C78811668 |
90200849 |
Canara Bank |
30/08/2003 |
11/06/2005 |
29/01/2016 |
15000000.0 |
Fort Branch, Warden House, Mumbai-400001, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
19.528 |
14.516 |
|
Guarantees |
134.800 |
134.800 |
|
Other money for which company is contingently liable |
4.267 |
4.267 |
|
Total |
158.595 |
153.583 |
FIXED ASSETS
Tangible Assets:
- Land
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Leasehold improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, 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 : |
PRT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.