|
|
|
MIRA INFORM REPORT
|
Report No. : |
491352 |
|
Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BST TEXTILE MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 309, 3rd Floor, Woodrow Building, Opposite Veera
Desai Road, Police Chowki, Andheri (West), Mumbai – 400053, Maharashtra |
|
Tel. No.: |
91-22-42063999 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
27.09.2005 |
|
|
|
|
Com. Reg. No.: |
11-156368 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 125.188 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111MH2005PTC156368 |
|
|
|
|
IEC No.: |
Not Divulged |
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|
|
|
GSTIN No.: |
05AACCB7130P1ZL |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCB7130P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is engaged in Manufacturing and Exporting of
cotton yarn. [Registered activity and also confirmed by management] |
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|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company incorporated in the year 2005 having
satisfactory track record. Management of the company has not filed its financials with the
government department for the year 2017. As per available financial of 2016, revenue and profit of the company
has declined. However, the company possesses sound financial profile marked by
healthy networth base along with fair debt level and favourable gap between trade
payables to its trade receivables. The company also derives strength from its established track record of
business operations. Trade relations reported as fair. Business is active. Payment terms
seems to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating = (BBB) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
22.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = (A3) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
22.11.2017 |
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Suresh MV |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-42063999 |
|
Date : |
10.02.2018 |
LOCATIONS
|
Registered Office : |
Office No. 309, 3rd Floor, Woodrow Building, Opposite Veera
Desai Road, Police Chowki, Andheri (West), Mumbai – 400053, Maharashtra,
India |
|
Tel. No.: |
91-22-42063999 |
|
Mobile No.: |
91-9867354603 (Mr. Mukesh Tyagi) |
|
Fax No.: |
91-22-42063902 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
Plot No.9, Sector No.9, SIDCUL, Pantnagar, Rudrapur-263153,
Uttarakhand, India |
|
Tel. No.: |
91-5944-250209 |
|
Fax No.: |
91-5944-250109 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Mukesh Balrajsingh Tyagi |
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|
Designation : |
Director |
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|
Address : |
131/2A, Windermere Building, Near Oshiwara Police Station, Azad Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
||||||||||||
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Date of Birth/Age : |
04.03.1962 |
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Date of Appointment : |
27.09.2005 |
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Qualification : |
Textile Engineer |
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PAN No.: |
AAAPT5676P |
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DIN No.: |
01711370 |
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Other Directorship:
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|
|||||||||||||
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Name : |
Ms. Sangeeta Mukesh Tyagi |
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|
Designation : |
Director |
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|
Address : |
131/2A, Windermere Building, Near Oshiwara Police Station, Azad Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
||||||||||||
|
Date of Birth/Age : |
07.03.1963 |
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Date of Appointment : |
27.09.2005 |
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Qualification : |
Graduate |
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PAN No.: |
AAAPT5676P |
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DIN No.: |
01349616 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Sandeep Goyal |
|
Designation : |
Company Secretary |
|
Address : |
A-21 Scheme No. 10, Vivek Vihar, Alwar – 301001, Rajasthan, India |
|
Date of Appointment
: |
01.04.2016 |
|
PAN No.: |
AMUPG9444L |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Balrajsingh Tyagi |
|
2124000 |
|
Sangeela Mukesh Tyagi |
|
1012556 |
|
Pawan Balrajsingh Tyagi |
|
1046805 |
|
Ajay Tyagi |
|
431900 |
|
Sheetal Tyagi |
|
68100 |
|
Sagar Birhal Singh |
|
350000 |
|
Ved Prakash Tyagi |
|
245000 |
|
Yogesh Tyagi |
|
255000 |
|
Munesh Kumar Tyagi |
|
700000 |
|
BST Yarn Fab Private Limited, India |
|
3769798 |
|
Arvind Kumar |
|
20000 |
|
Virendra Kumar |
|
20000 |
|
Mukesh Kumar Tyagi (HUF) |
|
1530000 |
|
Geeta Tyagi |
|
460000 |
|
Sudha |
|
140000 |
|
Sanju Tyagi |
|
125600 |
|
Ashu Munesh Tyagi |
|
220000 |
|
Total |
|
12518759 |
AS ON 30.09.2016
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
61.52491633 |
|
Promoters – [Individual/Hindu Undivided Family – Non-resident Indian (NRI)] |
8.36189114 |
|
Promoters – [Bodies corporate] |
30.11319253 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in Manufacturing and Exporting of
cotton yarn. [Registered activity and also confirmed by management] |
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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 : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
L/C and Credit [30,60 90 Days] |
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Purchasing : |
L/C and Credit [30,60 90 Days] |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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Terms : |
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Selling : |
Credit [30/60/90 Days] |
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Purchasing : |
Credit [30/60/90 Days] |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and Manufacture
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Sunil Shandilya and Company Chartered Accountants |
|
Address : |
1104 Neel Padam II,Sector4, Vaishali, Ghaziabad - 201010, Uttar
Pradesh, India |
|
PAN No.: |
ABBPK7241H |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Enterprises which
are owned, or have significant
influence of or are partners with Key management personnel and their
relatives: [As On 31.03.2016] |
BST Yarn-Fab Private Limited, India [CIN NO.: U17110MH1996PTC104632] |
CAPITAL STRUCTURE
AS ON 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
INR 10/- each |
INR 140.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12518759 |
Equity Shares |
INR 10/- each |
INR 125.188 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
125.188 |
125.188 |
125.188 |
|
(b) Reserves and Surplus |
162.835 |
153.835 |
132.974 |
|
(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) |
288.023 |
279.023 |
258.162 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
188.648 |
253.332 |
333.039 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.124 |
3.217 |
2.912 |
|
Total Non-current
Liabilities (3) |
192.772 |
256.549 |
335.951 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
351.925 |
284.668 |
386.753 |
|
(b) Trade
payables |
182.208 |
83.662 |
137.524 |
|
(c) Other
current liabilities |
71.662 |
92.823 |
81.604 |
|
(d) Short-term
provisions |
6.725 |
21.952 |
16.872 |
|
Total Current
Liabilities (4) |
612.520 |
483.105 |
622.753 |
|
|
|
|
|
|
TOTAL |
1093.315 |
1018.677 |
1216.866 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
376.345 |
422.597 |
488.281 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
1.833 |
|
(iv)
Intangible assets under development |
4.116 |
3.066 |
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 |
48.103 |
43.004 |
33.716 |
|
(e) Other
Non-current assets |
0.000 |
0.063 |
0.129 |
|
Total Non-Current
Assets |
428.564 |
468.730 |
523.959 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
403.690 |
287.511 |
285.143 |
|
(c) Trade
receivables |
184.699 |
196.482 |
304.027 |
|
(d) Cash and
bank balances |
4.221 |
4.592 |
2.897 |
|
(e)
Short-term loans and advances |
71.730 |
60.497 |
100.104 |
|
(f) Other
current assets |
0.411 |
0.865 |
0.736 |
|
Total
Current Assets |
664.751 |
549.947 |
692.907 |
|
|
|
|
|
|
TOTAL |
1093.315 |
1018.677 |
1216.866 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1647.415 |
1842.070 |
2029.921 |
|
|
Other Income |
6.329 |
15.909 |
3.132 |
|
|
TOTAL |
1653.744 |
1857.979 |
2033.053 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1179.343 |
1312.967 |
1499.731 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
10.128 |
32.355 |
(14.424) |
|
|
Employee benefit expense |
70.257 |
61.157 |
69.730 |
|
|
Other expenses |
236.088 |
252.287 |
250.888 |
|
|
TOTAL |
1495.816 |
1658.766 |
1805.925 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
157.928 |
199.213 |
227.128 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
63.846 |
84.021 |
96.097 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
94.082 |
115.192 |
131.031 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
61.704 |
73.415 |
84.805 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
32.378 |
41.777 |
46.226 |
|
|
|
|
|
|
|
Less |
TAX |
8.310 |
2.082 |
8.465 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
24.068 |
39.695 |
37.761 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
67.494 |
114.777 |
87.823 |
|
|
TOTAL EARNINGS |
67.494 |
114.777 |
87.823 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2.111 |
0.000 |
4.699 |
|
|
Components and Stores parts |
3.776 |
0.606 |
5.870 |
|
|
Capital Goods |
2.885 |
0.000 |
7.542 |
|
|
TOTAL IMPORTS |
8.772 |
0.606 |
18.111 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.92 |
3.17 |
3.02 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
66.509 |
85.506 |
72.800 |
|
Net cash flows from (used in) operations |
95.846 |
297.138 |
102.963 |
|
Net cash flows from (used in) operating activities |
95.846 |
297.138 |
94.498 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
40.92 |
38.93 |
54.67 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
8.92 |
9.38 |
6.68 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
56.39 |
23.26 |
33.47 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.39 |
0.69 |
0.80 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.42 |
0.47 |
0.46 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.79 |
0.81 |
0.85 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.11 |
2.23 |
3.07 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.13 |
1.73 |
2.41 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.32 |
1.53 |
1.90 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.47 |
2.37 |
2.36 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
1.46 |
2.15 |
1.86 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.20 |
3.90 |
3.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
8.36 |
14.23 |
14.63 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.09 |
1.14 |
1.11 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.43 |
0.54 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.26 |
0.27 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.85 |
4.98 |
6.33 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.09 |
1.14 |
1.11 |
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 |
125.188 |
125.188 |
125.188 |
|
Reserves & Surplus |
132.974 |
153.835 |
162.835 |
|
Net
worth |
258.162 |
279.023 |
288.023 |
|
|
|
|
|
|
Long-term borrowings |
333.039 |
253.332 |
188.648 |
|
Short term borrowings |
386.753 |
284.668 |
351.925 |
|
Current maturities of
long-term debts |
72.800 |
85.506 |
66.509 |
|
Total
borrowings |
792.592 |
623.506 |
607.082 |
|
Debt/Equity
ratio |
3.070 |
2.235 |
2.108 |
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 |
2029.921 |
1842.070 |
1647.415 |
|
|
0.000 |
(9.254) |
(10.567) |
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 |
2029.921 |
1842.070 |
1647.415 |
|
Profit/ (Loss) |
37.761 |
39.695 |
24.068 |
|
|
1.86
% |
2.15
% |
1.46
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
[As On 31.03.2016]
The Company is a private company limited by shares, incorporated in accordance with the provisions of the Companies Act, 1956, vide company registration number U17111MH2005PTC156368, having its registered office at office No. 309, third floor, Woodrow Building, Veera Desai Road, Andheri (West), Mumbai-400053. The Company is engaged in manufacturing of cotton yarn having its works at plot No. 9, Sector-9, SIDCUL, Pantnagar, Rudrapur-263153 in Uttrakhand and is eligible for dedcutions from its profits under section 80-IC of
Chapter-VIA of the Income Tax Act, 1961.
BACKGROUND AND
OPERATIONS, STATE OF COMPANY’S AFFAIRS: [As On 31.03.2016]
The Company is a private company limited by shares, incorporated in accordance with the provisions of the Companies Act, 1956, vide company registration number U17111MH2005PTC156368, having its registered office at office No. 09, third floor, Woodrow Building, Veera Desai Road, Andheri (West), Mumbai-400053. The Company is engaged in manufacturing of cotton yarn having its works at plot No. 9, Sector-9, SIDCUL, Pantnagar, Rudrapur-263153 in Uttarakhand. The company was promoted by Mr. Mukesh Balrajsingh Tyagi and Mrs. Sangeeta Mukesh Tyagi in the year 2005, to set up manufacturing plant in Uttarakhand, which is successfully set-up and has been operating satisfactorily.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
A95792834 |
10200769 |
STATE BANK OF TRAVANCORE |
25/01/2010 |
12/06/2010 |
380000000.0 |
112-115, TULSIANI CHAMBER, WEST WING, 1ST FLOOR, 212, NARIMAN POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
|
2 |
B93580066 |
10010243 |
STATE BANK OF PATIALA |
16/06/2006 |
16/11/2013 |
637000000.0 |
STATE BANK OF PATIALA - COMMERCIAL BRANCHFIRST FLOOR, ATLANTA BUILDING, NARIMAN POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
Contingent Liabilities (to the extent not provided for) :
(a) Claims for damages in dispute: A matter is undergoing in arbitration proceedings with regard to claim against the company by a raw material supplier namely The Cotton Corporation of India Limited, alleging infringement of contractual obligation and claiming damages consequent thereto. The company has also filed counter claim against the said supplier. The matter is subjudiced before the Hon’ble arbitrator as per the terms of the said contract. There is uncertainty relating to the outcome of the said matter undergoing in the said arbitration. The Board of Directors does not foresee any probability of any outflow of resources and no provision is considered necessitated for the same.
(b) Guarantees: Nil
(c) Other money for which company is contingently liable:
(i) Discounted value of letter of credits/bills outstanding as at the end of the year Nil (previous year INR Nil).
(ii) Disputed income tax demand of INR 3.305 million (previous year INR 7.563 million); which is presently sub-judiced before the CIT (Appeals), Mumbai.
FIXED ASSETS:
Tangible Assets
· Land
· Factory Building
· Plant and Machinery
· Computer
· Electrical Installation
· Furniture
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.28 |
|
|
1 |
INR 78.93 |
|
Euro |
1 |
INR 89.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
YES |
|
--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.